Nice, a discussion about PoSP!
PoSP was adopted by Pesobit two months ago and it's going great.
https://c-cex.com/?p=psb-btc
https://bitcointalksearch.org/topic/annpsb-pesobit-the-currency-for-remittances-and-international-cooperation-1581240
I agree with VonSpass it's a very economically sane algorithm
Topic: Have you looked at PoSP, the original staking algorithm of CBX? (Read 1345 times)
September 06, 2016, 04:21:44 PM
We can just agree to disagree.
Time will provide the final decision on who was correct.
Time will provide the final decision on who was correct.
September 06, 2016, 10:14:47 AM
As far as understanding interest, I can ask the same of you.
What I am saying is your CBX whales can monopolize the opportunity to stake and earn that %, and then in the next hour, stake again with the earlier amount & stake included in the next block, which this process will continue increasing their ownership at a faster degree.
Your Whales, decrease the # of times the nonwhales can stake, so even thru they eventually stake, it is less because their compounding effect was blocked the majority of the time.
If that is above your comprehension skill take a math class on the difference between compound interest & simple interest.
http://www.investopedia.com/ask/answers/042315/what-difference-between-compounding-interest-and-simple-interest.asp
Your guy said there were measures that would be implemented, to protect PoSP ,
I just want to hear if it is valid or just propaganda.
As far as DDOS, anyone can be attacked , but PoSP gives a Direct Financial Incentive to do so.
With Normal PoS, a DDOS attack is irrelevant, because you will make up the difference when you stake so there is no direct financial incentive because you receive the stake in proportion to your coins, not in proportion to the amount of available coins staking like PoSP.
So if you are want to know which is superior algo, then standard PoS would be superior to PoSP.
What I am saying is your CBX whales can monopolize the opportunity to stake and earn that %, and then in the next hour, stake again with the earlier amount & stake included in the next block, which this process will continue increasing their ownership at a faster degree.
Your Whales, decrease the # of times the nonwhales can stake, so even thru they eventually stake, it is less because their compounding effect was blocked the majority of the time.
If that is above your comprehension skill take a math class on the difference between compound interest & simple interest.
http://www.investopedia.com/ask/answers/042315/what-difference-between-compounding-interest-and-simple-interest.asp
Your guy said there were measures that would be implemented, to protect PoSP ,
I just want to hear if it is valid or just propaganda.
As far as DDOS, anyone can be attacked , but PoSP gives a Direct Financial Incentive to do so.
With Normal PoS, a DDOS attack is irrelevant, because you will make up the difference when you stake so there is no direct financial incentive because you receive the stake in proportion to your coins, not in proportion to the amount of available coins staking like PoSP.
So if you are want to know which is superior algo, then standard PoS would be superior to PoSP.
Now your speaking in circles and ignoring what I am telling you. I am not going to continue repeating myself. As far as standard PoS is concerned, you are entitled to your own opinion but the facts are not in your favor. I have addressed the problems with standard PoS in the PoSP white paper, each of which is addressed and improved upon with PoSP's design. Feel free to read it and learn.
September 05, 2016, 05:04:30 PM
As far as understanding interest, I can ask the same of you.
What I am saying is your CBX whales can monopolize the opportunity to stake and earn that %, and then in the next hour, stake again with the earlier amount & stake included in the next block, which this process will continue increasing their ownership at a faster degree.
Your Whales, decrease the # of times the nonwhales can stake, so even thru they eventually stake, it is less because their compounding effect was blocked the majority of the time.
If that is above your comprehension skill take a math class on the difference between compound interest & simple interest.
http://www.investopedia.com/ask/answers/042315/what-difference-between-compounding-interest-and-simple-interest.asp
Your guy said there were measures that would be implemented, to protect PoSP ,
I just want to hear if it is valid or just propaganda.
As far as DDOS, anyone can be attacked , but PoSP gives a Direct Financial Incentive to do so.
With Normal PoS, a DDOS attack is irrelevant, because you will make up the difference when you stake so there is no direct financial incentive because you receive the stake in proportion to your coins, not in proportion to the amount of available coins staking like PoSP.
So if you are want to know which is superior algo, then standard PoS would be superior to PoSP.
What I am saying is your CBX whales can monopolize the opportunity to stake and earn that %, and then in the next hour, stake again with the earlier amount & stake included in the next block, which this process will continue increasing their ownership at a faster degree.
Your Whales, decrease the # of times the nonwhales can stake, so even thru they eventually stake, it is less because their compounding effect was blocked the majority of the time.
If that is above your comprehension skill take a math class on the difference between compound interest & simple interest.
http://www.investopedia.com/ask/answers/042315/what-difference-between-compounding-interest-and-simple-interest.asp
Your guy said there were measures that would be implemented, to protect PoSP ,
I just want to hear if it is valid or just propaganda.
As far as DDOS, anyone can be attacked , but PoSP gives a Direct Financial Incentive to do so.
With Normal PoS, a DDOS attack is irrelevant, because you will make up the difference when you stake so there is no direct financial incentive because you receive the stake in proportion to your coins, not in proportion to the amount of available coins staking like PoSP.
So if you are want to know which is superior algo, then standard PoS would be superior to PoSP.
September 05, 2016, 03:16:06 PM
It goes by input size Kiklo, not by address size. Every address can have many inputs.
The point made was that he staked more than once per hour, multiplied thru out the day,
he will block those with less per block from staking, while his amount will continue to grow.
There is nothing wrong with CBX being for Elites or Whales, but the pretense that it is not is irritating.
You still have not answered what measures will be taken once the ddos starts.
FYI:
If you can't comprehend what I am saying you should study the effects of compound interest.
Are you making a joke or just not able to understand how interest works? A interest percentage will be larger in accordance to the size of ones capital. To make it easy: 10% of 100 is 10; 10% of 1000 is 100.
With regard to DDoS, are you trying to say large PoW pools can't be DDos'ed to allow other miners an advantage?
Please explain what algo you are representing as superior and WHY...
September 03, 2016, 12:23:16 AM
It goes by input size Kiklo, not by address size. Every address can have many inputs.
The point made was that he staked more than once per hour, multiplied thru out the day,
he will block those with less per block from staking, while his amount will continue to grow.
There is nothing wrong with CBX being for Elites or Whales, but the pretense that it is not is irritating.
You still have not answered what measures will be taken once the ddos starts.
FYI:
If you can't comprehend what I am saying you should study the effects of compound interest.
September 02, 2016, 11:53:56 PM
Any PoS or PoSP coin that allows coins to stake less than 5 days will favor the whales, since they can stake pretty much all of the time and keep smaller blocks from staking.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.
This is not accurate. Lets take a 'whale' with 20k CBX as an example. Yes, they will get the first PoSP block when they stake but then an hour has to go by until their CBX is eligible to stake again (that is 60 blocks for the non-whales). It is not quite the monopoly possibility that you suggest.
Hmm,
LOL
, you are making a joke right. Observe # 6 on your Rich List with ~25k CBX
https://chainz.cryptoid.info/cbx/address.dws?123346.htm
He is staking more than once per hour, and only 1 hour later he can stake again.
And that is only if that is his only address, if he has a few other high addresses, he is taking more of those limited # of chances to stake crowding out the little guy.
What I said was exactly accurate.
Transactions
Hash Block Date/Time Amount Balance
ef06c69d64d7acee... 1616444 2016-09-02 16:17:00 + 0.040465 CBX 25,200.705904 CBX
ee26bfc28f64bc9e... 1616441 2016-09-02 16:15:46 + 0.040465 CBX 25,200.665439 CBX
d4304e7bd054815b... 1616436 2016-09-02 16:09:24 + 0.040465 CBX 25,200.624974 CBX
It goes by input size Kikloo, not by address size. Every address can have many inputs.
September 02, 2016, 05:50:28 PM
FYI:
DDOS was just 1 vulnerability, another would be if a small group with majority of coins just set their firewalls to block all IPs except the ones in the group.
Plus not every user can switch IPs at will. (Depends on their Service Provider.)
DDoS is a very nasty and serious offence. People go to jail for that - and if I was victim of one for sure I would report it to the authorities; US and other countries governments take these things seriously!
If someone is going to DDoS any PoS coin - it better yield much more than 50$ - 5000$ or it's not worth risking going to jail for such small amounts.
As many sites that get DDOS, and their is no prosecution , I sincerely doubt the people doing it are concerned in the least with a threat of law enforcement, if they were the Cloudflare service would not even exist.
So you still have not answered my previous question?
Not worth DDoSing right now, and when it will be worth it (CBX value is going up), appropriate measures will be taken.
What measures will be taken?
Because this is a big issue for any PoSP implementation, and certain to be executed if the coin has any success.
FYI:
I am not trying to focus on a CBX flaw, to me it is a design flaw of PoSP, so if you do have any measures to stop this from happening,
post it as all PoSP coin implementations would be affected not just CBX.
September 02, 2016, 05:44:47 PM
Any PoS or PoSP coin that allows coins to stake less than 5 days will favor the whales, since they can stake pretty much all of the time and keep smaller blocks from staking.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.
This is not accurate. Lets take a 'whale' with 20k CBX as an example. Yes, they will get the first PoSP block when they stake but then an hour has to go by until their CBX is eligible to stake again (that is 60 blocks for the non-whales). It is not quite the monopoly possibility that you suggest.
Hmm,
LOL
, you are making a joke right. Observe # 6 on your Rich List with ~25k CBX
https://chainz.cryptoid.info/cbx/address.dws?123346.htm
He is staking more than once per hour, and only 1 hour later he can stake again.
And that is only if that is his only address, if he has a few other high addresses, he is taking more of those limited # of chances to stake crowding out the little guy.
What I said was exactly accurate.
Transactions
Hash Block Date/Time Amount Balance
2784123d32ddedef... 1616552 2016-09-02 18:30:45 + 0.040465 CBX 25,201.272414 CBX
5bf4c118a61091cd... 1616551 2016-09-02 18:30:45 + 0.040465 CBX 25,201.231949 CBX
ba69c9365162ac9e... 1616545 2016-09-02 18:19:58 + 0.040465 CBX 25,201.191484 CBX
ad156a361115f322... 1616541 2016-09-02 18:15:08 + 0.040465 CBX 25,201.151019 CBX
c8f5b154f8551ef9... 1616540 2016-09-02 18:14:50 + 0.040465 CBX 25,201.110554 CBX
ac5efb973de3fd97... 1616516 2016-09-02 17:44:44 + 0.040465 CBX 25,201.070089 CBX
30f320729398133d... 1616502 2016-09-02 17:28:58 + 0.040465 CBX 25,201.029624 CBX
609ce88482cd5d2b... 1616499 2016-09-02 17:27:15 + 0.040465 CBX 25,200.989159 CBX
193baf2a64f30cb3... 1616493 2016-09-02 17:14:39 + 0.040465 CBX 25,200.948694 CBX
12aea0b0f6af1e69... 1616489 2016-09-02 17:09:36 + 0.040465 CBX 25,200.908229 CBX
008062b9e4a1d5c4... 1616488 2016-09-02 17:09:23 + 0.040465 CBX 25,200.867764 CBX
1b9719d9f3b3b18b... 1616484 2016-09-02 17:05:48 + 0.040465 CBX 25,200.827299 CBX
5f552f5bffe1f4a5... 1616478 2016-09-02 16:59:11 + 0.040465 CBX 25,200.786834 CBX
7fe4eb580ccb8a25... 1616454 2016-09-02 16:31:32 + 0.040465 CBX 25,200.746369 CBX
ef06c69d64d7acee... 1616444 2016-09-02 16:17:00 + 0.040465 CBX 25,200.705904 CBX
ee26bfc28f64bc9e... 1616441 2016-09-02 16:15:46 + 0.040465 CBX 25,200.665439 CBX
d4304e7bd054815b... 1616436 2016-09-02 16:09:24 + 0.040465 CBX 25,200.624974 CBX
September 02, 2016, 12:30:57 PM
FYI:
DDOS was just 1 vulnerability, another would be if a small group with majority of coins just set their firewalls to block all IPs except the ones in the group.
Plus not every user can switch IPs at will. (Depends on their Service Provider.)
DDoS is a very nasty and serious offence. People go to jail for that - and if I was victim of one for sure I would report it to the authorities; US and other countries governments take these things seriously!
If someone is going to DDoS any PoS coin - it better yield much more than 50$ - 5000$ or it's not worth risking going to jail for such small amounts.
September 02, 2016, 09:11:10 AM
Any PoS or PoSP coin that allows coins to stake less than 5 days will favor the whales, since they can stake pretty much all of the time and keep smaller blocks from staking.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.
This is not accurate. Lets take a 'whale' with 20k CBX as an example. Yes, they will get the first PoSP block when they stake but then an hour has to go by until their CBX is eligible to stake again (that is 60 blocks for the non-whales). It is not quite the monopoly possibility that you suggest.
September 01, 2016, 11:01:44 AM
Is STRATIS related with CBX? Btw, the price is still over 3 times higher than the ICO.
P.S. I have the CBX whitepaper, but didn't read it yet.
P.S. I have the CBX whitepaper, but didn't read it yet.
STRATIS has no relation to CBX. I do not know what STRATIS is.
Let us know what you think regarding the WP.
September 01, 2016, 04:17:55 AM
Is STRATIS related with CBX? Btw, the price is still over 3 times higher than the ICO.
P.S. I have the CBX whitepaper, but didn't read it yet.
P.S. I have the CBX whitepaper, but didn't read it yet.
September 01, 2016, 12:44:01 AM
Be nice if that were true, but odds are someone will hold their coins and dump before the coins are released from ICO lockdown.
Time will tell.
Nobody is dumping anything. As devs of CBX, of course we have a few CBX locked up in our Vaults - you think dumping will help our individual or collective situation in any possible way?
We spent years refining CBX, adding PoSP to it on time and as promised even after losing our coding dev, then building a strong and talented community. CBX has a rich history why blow it away in a few trades.
When ICO is over and tough objectives are met, if we have succeeded to secure 250k CBX dumping will be the last thing on our minds. We want to build.
No offense, but last time I checked to build something , you have to pay for services or materials.
Even if you don't unload the bulk of CBX at once, you will have to unload a little at a time to pay for things.
Cause if you found a way to build without paying anything , please share that little jewel.
FYI2: Ok, Slow Dump will be in progress for ICO coins
But that won't include any coins not used in the ICO that someone else holds for the best time to dump, which will be toward the end of the ICO.
Ok let me know if I get this right because this sounds quite interest. I mean you have my attention now I don't think you are fooling around here and I hope you prove us all right.
So this is for developers and it is like a crowd fund for them when we convert the tokens into spark ? How does the developer us the sparks ? How do we get a return on the investment if we exchanging our tokens for spark ?
Cbx is owning on yobit. Damn it doubled.
So this is for developers and it is like a crowd fund for them when we convert the tokens into spark ? How does the developer us the sparks ? How do we get a return on the investment if we exchanging our tokens for spark ?
Cbx is owning on yobit. Damn it doubled.
The CBX contributed to the Quintessence crowdfunding will be sent to a 3 signature CBX address, and will be used slowly in the future for bounties and for paying for development.
When the Spark wallet is up and running, in the ICO site http://cryptotokensico.com/, you will be able to log in and paste your SPK address there to receive your Spark tokens.
Basis price for Spark is 1 CBX per 4000 SPKs - however we will have bonuses like DAY ONE (Monday, September 12th) where you will get 5200 SPK instead of 4000 per CBX contributed.
September 01, 2016, 12:27:35 AM
Not worth DDoSing right now, and when it will be worth it (CBX value is going up), appropriate measures will be taken.
What measures will be taken?
Because this is a big issue for any PoSP implementation, and certain to be executed if the coin has any success.
FYI:
DDOS was just 1 vulnerability, another would be if a small group with majority of coins just set their firewalls to block all IPs except the ones in the group.
Plus not every user can switch IPs at will. (Depends on their Service Provider.)
September 01, 2016, 12:06:55 AM
FYI2:
No one may have noticed it, but there is a direct financial incentive to DDOS the other CBX wallets when you stake.
If you read their whitepaper, you will notice the interest rate increases when the amount of coins staking decreases,
currently ~250,000 coin staking, meaning the interest is between 7% & 10%.
If Someone Staking was able to DDOS a few of the other wallets and decrease the amount staking to only 100,000 coin,
then the interest rate for anyone still online is 20% instead of below 10%.
So you have a direct financial incentive to DDOS the other wallets.
PoSP, has a Built in Backstabbing Incentive.
No one may have noticed it, but there is a direct financial incentive to DDOS the other CBX wallets when you stake.
If you read their whitepaper, you will notice the interest rate increases when the amount of coins staking decreases,
currently ~250,000 coin staking, meaning the interest is between 7% & 10%.
If Someone Staking was able to DDOS a few of the other wallets and decrease the amount staking to only 100,000 coin,
then the interest rate for anyone still online is 20% instead of below 10%.
So you have a direct financial incentive to DDOS the other wallets.
PoSP, has a Built in Backstabbing Incentive.
You forget CBX's inflation profile is just 2%. So DDOSing all of the live Vaults while you run your own solo will earn you a whopping ... 50 CBX per day!
Also, its pretty easy to switch IP addresses as soon as one realises what is going on.
Not worth DDoSing right now, and when it will be worth it (CBX value is going up), appropriate measures will be taken.
August 31, 2016, 11:55:52 PM
Be nice if that were true, but odds are someone will hold their coins and dump before the coins are released from ICO lockdown.
Time will tell.
Nobody is dumping anything. As devs of CBX, of course we have a few CBX locked up in our Vaults - you think dumping will help our individual or collective situation in any possible way?
We spent years refining CBX, adding PoSP to it on time and as promised even after losing our coding dev, then building a strong and talented community. CBX has a rich history why blow it away in a few trades.
When ICO is over and tough objectives are met, if we have succeeded to secure 250k CBX dumping will be the last thing on our minds. We want to build.
August 31, 2016, 08:27:57 PM
Looks like CBX team is trying to pump CBX by having it fund an ICO for a project called Quintessence with a 2nd coin called Sparks.
https://bitcointalksearch.org/topic/spk-quintessence-neighborhood-project-canceled-reimbursement-underway-1600250
$156,000 pump in the past 12 hours.
Enjoy the Pump, everyone else there is always a dump later , so be careful.
I don't know about that. All of the CBX being purchased off of the market is going into ICO lockdown during development. With only 1 million CBX out there, there will be nothing existing to dump.
Be nice if that were true, but odds are someone will hold their coins and dump before the coins are released from ICO lockdown.
Time will tell.
August 31, 2016, 07:57:19 PM
@kiklo,
As far as I know, PoS also favourites the whales. I found out about PoSP probably a week ago and I'm currently researching it.
As far as I know, PoS also favourites the whales. I found out about PoSP probably a week ago and I'm currently researching it.
Lots of people say it, but few examine it.
Any PoS or PoSP coin that allows coins to stake less than 5 days will favor the whales, since they can stake pretty much all of the time and keep smaller blocks from staking.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.
Sprouts is a Good example , a high interest 60% per month coin able to stake every 5 days , however the whales are staking so much , that even if you have a million coins all in one block it will be ~20 days before you can stake, people with less than a 100,000 per block will find it almost impossible to stake.
FYI:
Here is CBX Whitepaper , if you want to study it.
http://cryptobullion.io/white-paper/
FYI2:
No one may have noticed it, but there is a direct financial incentive to DDOS the other CBX wallets when you stake.
If you read their whitepaper, you will notice the interest rate increases when the amount of coins staking decreases,
currently ~250,000 coin staking, meaning the interest is between 7% & 10%.
If Someone Staking was able to DDOS a few of the other wallets and decrease the amount staking to only 100,000 coin,
then the interest rate for anyone still online is 20% instead of below 10%.
So you have a direct financial incentive to DDOS the other wallets.
PoSP, has a Built in Backstabbing Incentive.
August 31, 2016, 12:26:56 PM
Looks like CBX team is trying to pump CBX by having it fund an ICO for a project called Quintessence with a 2nd coin called Sparks.
https://bitcointalksearch.org/topic/spk-quintessence-neighborhood-project-canceled-reimbursement-underway-1600250
$156,000 pump in the past 12 hours.
Enjoy the Pump, everyone else there is always a dump later , so be careful.
I don't know about that. All of the CBX being purchased off of the market is going into ICO lockdown during development. With only 1 million CBX out there, there will be nothing existing to dump.
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