Topic: Keep your wallet up and WIN HUGE hourly! - page 5. (Read 5180 times)

sent you a PM..

14 hours. Your BIGcoin address to get 1176 HUGE...

Interesting... before I download the wallet, may I know the current price of Huge ?

14 hours. Your BIGcoin address to get 1176 HUGE...

And what exactly stops people from running hundreds of wallets across VMs and increase the inflation of the coin so much that's it's utterly worthless?

46.238.44.222 , I'm in...

106.8.72.122   

and  please give me  some nodes ~~

Just in now ... 58.26.196.129
que...

23.102.34.115 , wallet is open

46.238.44.222 , I'm in...

and there is the rub. You're not 51% proof, you're just hoping that no one ever sees a malicious mode. In fact, I'd say this is even easier to fork than a standard PoW coin, because all you have to do is mint 3 or 4 blocks ahead, and your coin will fork itself off, and then it's just a matter of getting nodes to see the malicious nodes before your legit nodes (ie, easily done with a DDoS).

Posting your IP address here is dangerous in itself of course as well. Let's hope there is no security flaw in your wallet cause otherwise you're painting a huge target on people.

Refusing to accept a superior blockchain is not "51% proof", it just means that when a node gets forked off, it will never recover by itself, leading to even more dangerous actions happening, such as if hash power leaves the chain (and then it becomes even easier to 51% the old chain).

Also, before you ask, your 51% "bounty" would not cover my time.. up it to something more lucrative, and maybe I'll prove it

because all you have to do is mint 3 or 4 blocks ahead

easily done with a DDoS

Refusing to accept a superior blockchain is not "51% proof"

when a node gets forked off

The situation when long forks are desirable is when there's a coincidence of multiple genuine conflicting miners (considering non-restricting networks). The probability of the coincidence is very low and reduces dramatically as each block gets added in either of the forked chain. By the time 12 blocks have been mined on the forks, the probability has reduced to a practically impossible value. Had this not been true, a 51% attack would've been a coincidence. Till date, off all cryptocurreny history and the billions of blocks mined, this coincidence has never happened. A 51% attack requires skills, it can't be done by chance.

There is only one configuration in which long forks are genuinely made - when the miners produce forked blocks at the same height. If some miner has made a block at, say the 3rd or 4th last block (or lower than that), then it points to either 1 or 2.

Let's take an e.g. of a set of miners A and B. Suppose A mines a new block (named 100A, where 100 is depth and A is the miner's name), but before the block reaches B, B generates a new block (100B). In this situation a fork is made. B continues to mine on on 100B and A continues to mine on 100A. Let's take the probability of this happening -

(probability of B mining block 100B (depends on hash rate) at time t)*(probability of A mining block 100A (depends on hash rate) at time t+D)

Where D is the delta; D is a unit of time which is less than the time it takes for a block to traverse; that's why B found a new block and broadcasted it to the network without marking it stale.

A high hash rate and low difficulty will increase the probability of of a forked block. This is where eDRv2 kicks in and makes this situation less likely than normal.

There is low (but not impossible) probability of this situation.

 For this fork to continue, B should generate a new block 101B, and A should generate a block 101A before each of the blocks reach the other set of miners. So the the probability involved here is -
 
(probability of B mining block 100B (depends on hash rate) at time t)*(probability of A mining block 100A (depends on hash rate) at time t+D)*(probability of B mining block 101B (depends on hash rate) at time T)*(probability of A mining block 101A (depends on hash rate) at time T+D)

So this is exponentially unlikely to happen and we're still at just the 2nd block of the parallel forks.

The game changer difference between this and the 100A/B situation is the difficulty of 101A/B. For A to continue mining on 101A and for B to continue mining on 101B, the difficulty of both these blocks must be identical; that means blocks 100A/B must have identical timestamps. So d has to be less than a second; otherwise one of 101A/B will be selected as the main chain.

All this has to happen for each block till block 12 (or 6, depending on the coin); so a 51% attack by coincidence is impossible to happen; and we've seen this happening.

if hash power leaves the chain (and then it becomes even easier to 51% the old chain).

Regardless of how powerful the attacker is once a transaction is confirmed (12 blocks), you cannot reverse it.

Also, before you ask, your 51% "bounty" would not cover my time.. up it to something more lucrative, and maybe I'll prove it Wink

That's cause they're not 51% proof; this coin has a different concept.

More no. of nodes means less chance of the bad blockchain syncing.