Topic: Is PoS dead? - page 7. (Read 17330 times)

Think of me what you will, but I am paying off the debt and could care less what people think of me because of it. I would love to pay off the debt that I owe RIGHT NOW, but unfortunately that isn't financially possible for me. I cant make money appear out of thin air. It was an honest mistake which was balooned by the Bitcoin price hike late last year when it went from $150 to $1200+, and I paid off a lot of my debt when Bitcoin was valued above $800... even $1000 plus dollars. If I would of waited until now for the value to crash, I would have all my debt paid off and some savings as well.

You can say what you want about your Hash Fast situation, but words are easier to come by than money, and I feel like what I am doing... paying people back means a lot more than offering an apology. Sure, you don't owe those people anything, but all you are doing is offering an apology.. it seems pretty weak considering you were the biggest cheer leader for one of the biggest ASIC scams thus far. People lost millions and millions of dollars with Hash Fast, whereas in my situation I only owe people about 5.5 Bitcoins since I have repaid most of the debt. Hash Fast went bankrupt and probably no one is getting paid back.. if they do it will be pennies on the dollar. I am paying people back in full. I think your apologies about the Hash Fast situation would mean a lot more if you actually tried to help any of the victims out a little bit- instead you do nothing but offer an apology and point fingers.

Anyways... thanks for reminding me I needed to update people about my debts and how I am coming along with them. I can assure you everyone will be paid back as soon as possible. You can say what you will about it, but I know that in my heart I meant no wrong, and I am paying everyone back as soon as I can. I stopped caring what people think about me a long time ago when Smoothie was constantly harassing me about this all over every forums on the internet.

dickhead Coinhoarder started it.

here's the problem.

your comprehension of what's fair and legal is ridiculous.  just like your claims about POW and POS.  what i did for HF was an endorsement at the beginning of their existence.  i was never part of their incompetence later on.  yes, i made a judgment error in the endorsement.  but that doesn't make me liable to pay back all their customers, both legally and morally.  how would that even be possible and even reasonable?  

your debt obligation, otoh, are your own.  made by you and personally guaranteed by you.  if you are so high and mighty like you claim, why are so many ppl pissed at you, creating a thread about you, and labelling you a scammer?  how about paying those poor guys interest for your late payments made on your own terms?  that was a year ago, btw.

Once again you fail at reading comprehension, go back and read my last post.

and you know Coinhoarder, any reasonable person can see that HF was totally out of my control.  and the first sentence of my endorsement revealed to everyone that i was being paid.

you, otoh, have complete control of paying off your promises but haven't.  and after all the work those poor guys did designing those beautful logos for you to shit on them.  i actually took pity on one of them and bought one of their designs so all that work wouldn't be for naught.

Nice try bro, but I actually pay my debts in this community. Scammers don't repay their debts, therefore I am not a scammer. I have two debts which I am actively paying off. The first is a 30 Bitcoin loan that I owed 32 Bitcoins for, as of a few days ago I have paid 31.5 Bitcoin of the 32 Bitcoins owed. If you don't believe me, here is evidence on the block chain I am actively paying off that debt: https://blockchain.info/address/1MenQ9tJiGHaNwTiFJJu2g9F2qpseWzPMu

After I pay off that debt, I will be paying off the bounty debt next, and will be free and clear of all debt owed in the cryptocoin community. You see.. I am a man of my word and am in the process of paying my debts in the community. There are many people that can vouch for me that I am a trustworthy person, I have done a lot of honest business with happy customers and/or sellers.

Tell me, when will you be paying back Hash Fast customers that you duped into buying hardware from a scam company that never delivered? The only recourse you seem to be providing is an apology. I've provided both an apology AND I am paying people back... I've put in a lot more effort than you have to right my wrongs.

Furthermore (more in line with the topic of conversation), tell me how your ASIC investments have gone for you thus far. Minus the free mining rigs you got from HashFast for sending customers to their scam?

somehow i didn't think you were serious.

and i keep putting up this chart which shows yet another backing off away from the 51% scenario that you are so worried about.  how many times have we bumped up against that % w/o incident?  3x.  and still no problems.  there's a game theory going on here that you guys conveniently dismiss.

no, i don't think a gubmint would take the legal or political risk to subvert  mining operators.  plus, there's too many of them and they are scattered round the world.  what's to stop one of those operators from doing a Lavabit and telling the world?  gubmint cannot risk that type of shitstorm.

and just which gubmint are we talking about here?  the US gubmint?  ok, what if China or Russia is secretly supporting their mining operators b/c they are quite happy with the possibility that Bitcoin subverts the USD?  what if they are secretly building mines of their own?  last i looked, there is quite a bit of derision going on btwn sovereigns and war is not out of the possiblity.  do you really think they all act as a monolith?

yeah, i thought i recognized your scammer name, Coinhoarder:

https://bitcointalksearch.org/topic/--316370

You keep conveniently ignoring what I wrote before.  A bad actor does not need to buy or build asics in secret.  All the hash rate centralization is already concentrated and available in the form of pools.  Do you somehow believe that pool operators would turn down a buy out offer that's accompanied by the threat of government force?  Or do you somehow believe ghash.io or discuss fish servers are mysteriously unknown or so well hidden that governments can't find them?  This is one of the main problems of PoW in it's current winner take all form is that the economic laws of division of labor make small miners eventually obsolete.  That and the fact that block rewards are forever decreasing makes centralization through pools a guaranteed fact.  Even with p2p available it is not being used and majority still mines in pools with no known owners or operators.  Why?  Because it's simple.  Path of least resistance.  An average miner just wants to make a profit so he will go where the profit is greatest not some tilting at windmills I will mine alone because network needs protection BS.

haha.  stooping to new lows out of desperation now, i see.  too bad, HF wasn't my fault and i had no control.  yeah, bad endorsement, no question, but certainly understandable like many other endorsements made in the community:  Ver for gox, Andreas & Tuur for NeoBee, etc.  but go ahead, keep trying to defend POS with shit arguments.  you're a prick for bringing it up and you know it.

i do mine and it takes work.  real blood, sweat and tears.  which is precisely why it will work and no gubmint will try to 51% attack.  gubmints and money printers don't want to work, they'd rather print and take the easy route.  just like you and the other POS shills.  you'd rather take the easy route to success.  sorry, ain't gonna happen and it isn't happening.

Too bad then, I guess there won't be a completed whitepaper any time soon. They are still writing code and have scheduled features that will take another year or more before NXT is anywhere close to complete, the whitepaper will always be incomplete and in draft mode.

Yes he did - didn´t you read the link he posted?

It clearly shows that he found no answers in the Whitepaper.

Did you read the NXT whitepaper draft?

I think NXT is in a deplorable state if basic questions about achieving consensus (the single goal of PoS) cannot be answered in a straightforward manner.

Such knowledge should not be limited to core developers or buried deep in long discussion threads.
It should be very prominent in FAQs and wikis and whitepapers. It is not. That is cause for worry...

You'll just have to search Bitcointalk original NXT thread (the one that's over 1000 pages long) for answers, developers are busy coding new features like crazy, no time to answer everyone's questions

I recently tried to lay to rest some concerns I have about the technical underpinnings of the PoS system as used in NXT. See this thread on the NXT forum:

https://nxtforum.org/general/forging-questions/

Needless to say, my concerns have not been laid to rest.

Furthermore, I have to say that the lack of technical expertise in the NXT community is somewhat worrying.

There are no central checkpoints in NXT, only rolling checkpoints, and all txs deeper than 720 blocks are irreversible. When TF is implemented, all txs deeper than 10 blocks will be irreversible.

If you start your own fork, who will join you? By the way, you can start your own fork in Bitcoin too just as easily, but who will join you? This is just FUD you're spreading.

EDIT: don't take Peercoin for example, NXT's implementation of PoS has nothing to do with Peercoin's implementation.
To make an analogy: both apples and oranges are fruits, but they are very different.

Of course, thats why we have another attack vector.
The thing is, if u take Peercoin for example they have masterkey for the syncheckpoints they have to broadcast every x (i think 30) days.

Steal his privatekey and enforce your own checkpoint on the "wrong" fork.
Or simpler, Sunnyking vanishes for whatever reason and then...no idea what happens but the checkpointing is useless.