Mark your calendars folks... On May 10th, MicroCash will be introduced
Did I miss it?
Notice they didn't specify which year.
Topic: Get Ready for "MicroCash" : The most advanced Crypto-based Currency yet! - page 3. (Read 15300 times)
June 12, 2012, 02:23:02 PM
Did I miss it?
Notice they didn't specify which year.
June 11, 2012, 06:51:32 PM
*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.
A few of the alternate chains tried that, it caused a lot of forked blocks due to everyones clocks being set differently.
*) Resistant against 51% mining attacks. Money is used to help solve block disputes but now nearly everyone can contribute to this process instead of only a few trust nodes.
There is no sensible way that can work.
*) A new way to send/recv funds securely over the MicroCash network, meaning you can download the client and be sending/receiving cash within seconds. No blockchain download required
You mean a lite client?
*) Can now get paid merely for running a node
No. Get paid for having funds with the payment being proportional to the amount of funds you have. A tax the poor to pay the rich tax system.
*) MicroCash Accounts now gain a form of "interest" which is collected from all network fees and redistibuted to accounts based on their total MicroCash holdings. Increase your MicroCash amount and get more interest
Covered above.
*) Chain donation address added. Send money to this address and it redistributes it evenly to every MicroCash account
Part of the tax/interest system and doesn't make sense for any normal use.
*) Dual signature accounts allowed. Meaning you can now have two devices with 2 keys able to confirm a transaction. ie You create a transaction on your PC and your mobile phone confirms it. If your PC is ever hacked your funds can't be removed without your phone confirming it.
A good idea, copied from BitCoin.
*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.
That was already listed. A few of the alternate chains tried that, it caused a lot of forked blocks due to everyones clocks being set differently.
*) Transaction fees reduced to a fixed 0.005MC (half cent) for a normal transaction and 0.01 MC for dual signature
Nonsense. We saw how well fixed transaction fees worked with solidcoin. They lead to blockchain abuse.
*) Transaction size is now much smaller, which means we can fit more in a block and have less disk/memory usage
You mean some of the security has been removed by using shorted key lengths. Bad move if you expect this thing to carry on for a few years.
*) An address (pubkey and privkey) is now looked at like an account. Each transaction involves the moving of one balance to another account. No inputs required, fixed transaction size, one signing per transaction maximum with the standard transaction type.
This doesn't appear to make sense. Need more details.
*) There are no physical transactions added to the blockchain as a result of a new block. Instead a new block is treated as 2 separate transactions. One to the creator (who gets 100% of a blocks value) and one to the CPF (that gets 5% of the block value)
Are you saying transactions are not stored in the blockchain? This doesn't make sense. Also the CPF is really RealSolid's personal wallet and the whole concept of a tax on a peer2peer currency is sick and wrong.
*) Block header is now 104 bytes, with room for the address of creator and optimization of other fields
Optimization = reduced security by using shorter block lengths.
*) Address format is now much smaller and easier to read (will be announced at beta)
Again, reduced security by using short key lengths.
*) Custom database engine that is extremely fast at looking up every transaction, every block and every account. Much improved custom database to store all blocks and transactions.
Need more details.
*) Extremely fast transaction/block/account lookup, resulting in less CPU usage running a node.
Due to a reduction in security be reducing key lengths and possibly other security reducing measures.
*) No IRC client needed to find other nodes
BitCoin has been bootstraping from DNS for a long time now. This is just a copy of that mechanism.
*) New C++ codebase that is easy to extend and has been heavily optimized
Strange. I was told it was C#.
*) Easier for businesses and websites to use. Low resource usage. URL Callbacks when their accounts are involved in transactions, no need for constant polling or creating a new address for every customer.
This is nonsense.
*) Transactions are now a fixed size and are also heavily optimized and easy to create for thin clients.
This was covered above. Security had to be reduced by a large amount for this.
*) Improved Proof of Work hash and handling. Now reference previous blocks with a SHA256 to improve disk loading
That doesn't sound like an improvement.
*) Increased mining income to match $1-$2 range instead of $3-4 range
Increased to less? This doesn't make sense.
*) Powerblocks are removed
Good. They were an insane idea.
*) Trust nodes and trust blocks are removed
Good. They were an insane idea.
*) The 10 trust accounts are removed
Good. They were an insane idea. I wonder where those 10 million coins will go though?
*) Improved P2P handling
Yet to be seen.
*) Much shorter address format and new hashing mechanism for them. Accounts store public keys so that once set it's more secure than ripemd160
Covered above. This was brought with a very large reduction in security of the whole system.
*) Denial of Service code added, can now ban nodes that flood the network
Ripe for abuse no doubt because there isn't any clear way to do this sensibly.
*) Ability to donate MicroCash to nodes for passing on transactions and blocks
Ability to give away money? What?
*) URL and email callbacks for accounts on a node. Allow developers to get transactions pushed to them instead of constantly polling
A reasonable idea but hardly world changing. Could be done with a small change to BitCoin but most people just write a wrapper around bitcoind.
*) Trading on exchanges will be possible within the client
Which exchanges? Because the only dedicated solidcoin exchange just shut down.
*) Ability to add labels or information to transactions you send to others
That's fairly useful actually.
*) Can create payment codes that clients accept with amount, address and information tags already filled out.
Any website can do that, it's called a form.
June 01, 2012, 11:36:39 PM
By the same token... December 17, 2038, is also "close to the tenth" of something.
June 01, 2012, 10:16:42 PM
The dev team is polishing things up before release. As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....
Oh
My
FUCKING
God.
When do we get to hit people for stating that False Statement that "bitcoin was hacked and 18,000btc were stolen"
BITCOINICA<---- THE WEBSITE, BUILT BY A NINETEEN YEAR OLD PERSON, WAS HACKED. AND THE BITCOINICA ACCOUNTS WERE ATTACKED.
NOTHING about bitcoin was threatened.
May 14, 2012, 02:47:12 PM
are we googlebombing microcash is a scam?
Googlebombing is such ineloquent term, we're merely enhacing Google's search results for Microcash is a Scam, that's all.
~BCX~
Yup just like my subject line above!
May 14, 2012, 11:36:06 AM
are we googlebombing microcash is a scam?
May 13, 2012, 10:30:01 PM
The dev team is polishing things up before release. As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....
I don't see what a comprimised account has to do with the technology of bitcoin. The theft is more about the security at bitcoinica. It just so happened BTC were involved.
Regardless if MC is more secure or not, in order for these "currencies" to succeed, they need to be accepted at a wide variety of vendors commonly used by the public. Where is MC accepted?
lol, i can imagine how that goes
email to store "Do you accept microcash?"
store searches for microcash "MICROCASH IS A SCAM!"
store emails back "...no"
LOL exactly...
May 13, 2012, 09:42:08 PM
The dev team is polishing things up before release. As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....
I don't see what a comprimised account has to do with the technology of bitcoin. The theft is more about the security at bitcoinica. It just so happened BTC were involved.
Regardless if MC is more secure or not, in order for these "currencies" to succeed, they need to be accepted at a wide variety of vendors commonly used by the public. Where is MC accepted?
lol, i can imagine how that goes
email to store "Do you accept microcash?"
store searches for microcash "MICROCASH IS A SCAM!"
store emails back "...no"
May 13, 2012, 02:44:41 PM
The dev team is polishing things up before release. As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....
I don't see what a comprimised account has to do with the technology of bitcoin. The theft is more about the security at bitcoinica. It just so happened BTC were involved.
Regardless if MC is more secure or not, in order for these "currencies" to succeed, they need to be accepted at a wide variety of vendors commonly used by the public. Where is MC accepted?
May 13, 2012, 01:46:02 PM
Are you still arguing with these trolls? Seriously, why are you trying to teach these pigs to sing?
Let the kids play in their sand box with their dog poo, not your problem
Let the kids play in their sand box with their dog poo, not your problem
The MicroCash kids can play where they like, when they start trying to scam people that don't know better into using their rigged coin then I care.
If we just ignore these morons they are going to scam everyone they can. If we make noise and question their rigged system google will index it and anyone doing due-diligence ( which isn't nearly enough people judging by how many people handed over BitCoins to bitcoinica ) will find it. Less people will be scammed and less damage will be done to the reputation of crypto-currencies in general.
You cannot protect everyone. Eventually people will have to learn to wise up and do their homework before jumping head first. It's all part of the natural cycle. Unfortunate? Yes. But it's for their own good.
It's been well established that Scamcoin is a sham, and anyone who fails to see that deserves to get ripped off, as that's the only way they'll learn.
Some people never wise up, and when those people get fleeced by SoiledCoin the press might make a distinction between them and Bitcoin. I would prefer if those who are doomed to be taken advantage were not part of Bitcoin so their folly does not reflect poorly on BTC. So SoiledCoin does serve a purpose.
There does need to be a minimum bar however. Threads like these make certain that those with over 80 I.Q. are forewarned of the danger. Those with under 80 cannot be helped, and provide the grist the SoiledCoin mill feeds upon.
May 13, 2012, 12:53:58 PM
Are you still arguing with these trolls? Seriously, why are you trying to teach these pigs to sing?
Let the kids play in their sand box with their dog poo, not your problem
Let the kids play in their sand box with their dog poo, not your problem
The MicroCash kids can play where they like, when they start trying to scam people that don't know better into using their rigged coin then I care.
If we just ignore these morons they are going to scam everyone they can. If we make noise and question their rigged system google will index it and anyone doing due-diligence ( which isn't nearly enough people judging by how many people handed over BitCoins to bitcoinica ) will find it. Less people will be scammed and less damage will be done to the reputation of crypto-currencies in general.
You cannot protect everyone. Eventually people will have to learn to wise up and do their homework before jumping head first. It's all part of the natural cycle. Unfortunate? Yes. But it's for their own good.
It's been well established that Scamcoin is a sham, and anyone who fails to see that deserves to get ripped off, as that's the only way they'll learn.
May 13, 2012, 12:15:56 PM
Are you still arguing with these trolls? Seriously, why are you trying to teach these pigs to sing?
Let the kids play in their sand box with their dog poo, not your problem
Let the kids play in their sand box with their dog poo, not your problem
The MicroCash kids can play where they like, when they start trying to scam people that don't know better into using their rigged coin then I care.
If we just ignore these morons they are going to scam everyone they can. If we make noise and question their rigged system google will index it and anyone doing due-diligence ( which isn't nearly enough people judging by how many people handed over BitCoins to bitcoinica ) will find it. Less people will be scammed and less damage will be done to the reputation of crypto-currencies in general.
May 13, 2012, 11:09:10 AM
The dev team is polishing things up before release. As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....
Your a stupid fool, That was the 19yr old's Trading Website Bitcoinica that got robbed of 18k.
Same thing could happen to ANY currency.
Are you still arguing with these trolls? Seriously, why are you trying to teach these pigs to sing?
Let the kids play in their sand box with their dog poo, not your problem
May 13, 2012, 09:20:20 AM
The dev team is polishing things up before release. As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....
Your a stupid fool, That was the 19yr old's Trading Website Bitcoinica that got robbed of 18k.
Same thing could happen to ANY currency.
May 12, 2012, 10:18:39 PM
Here is one example of a significant improvement: "Dual signature accounts allowed with MC$"
More code copied from Bitcoin, eh? Will the source code include the required licenses?
May 12, 2012, 04:36:46 PM
coooooooooooooooooooool
Scamcoins, Now with the ability to slowly drain your balance!
Scamcoins, Now with the ability to slowly drain your balance!
Signing off until the official release... Stay tuned to MicroCash.org for updates. That's all Folks!
I see you addressed none of my points about the design weaknesses in SoiledCoin (and it's rebranding as Microcash).
Still, if you spent more time coding and less time on the forums it would save us all a lot of time and effort.
I wonder if the source code will ever be released for Microcash. Probably not since they had to shut down SoiledCoin2 after releasing it's source.
May 12, 2012, 04:33:46 PM
coooooooooooooooooooool
Scamcoins, Now with the ability to slowly drain your balance!
Scamcoins, Now with the ability to slowly drain your balance!
Signing off until the official release... Stay tuned to MicroCash.org for updates. That's all Folks!
Signing off to the past?
May 12, 2012, 04:33:08 PM
coooooooooooooooooooool
Scamcoins, Now with the ability to slowly drain your balance!
Scamcoins, Now with the ability to slowly drain your balance!
Signing off until the official release... Stay tuned to MicroCash.org for updates. That's all Folks!
May 12, 2012, 04:17:05 PM
coooooooooooooooooooool
Scamcoins, Now with the ability to slowly drain your balance!
Scamcoins, Now with the ability to slowly drain your balance!
May 12, 2012, 04:11:02 PM
Here is one example of a significant improvement: "Dual signature accounts allowed with MC$: Meaning you can now have two devices with 2 keys able to confirm a transaction. ie You create a transaction on your PC and your mobile phone confirms it. If your PC is ever hacked your funds can't be removed without your phone confirming it."
No one may never learn all the details surrounding the recent 18K BTC Heist. Nevertheless, the hard work the community and dev team have put into the MC$ code base such as the above will demonstrate that the goal is to make security of the currency priority one.
No one may never learn all the details surrounding the recent 18K BTC Heist. Nevertheless, the hard work the community and dev team have put into the MC$ code base such as the above will demonstrate that the goal is to make security of the currency priority one.
That was copied from BitCoin, Gavin was asking the alt coins to test it months ago.
It would not help where transfers have to be initiated automatically in any case, it only helps where it's reasonable to have two people or one system and one person approving a transfer.
Security may be your goal but you are working with an unproven codebase. MicroCash security can't be up to BitCoin standards in protocol or in implementation.
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