Mimblewimble with POS | Bitcointalksearch.org

plast555

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Quote from: suchmoon on November 21, 2019, 05:42:44 PM

Quote from: plast555 on November 21, 2019, 05:38:06 PM

I meant token holders, not ICO, IEO investors.
I have a lot of friends who accumulated GRIN already. But they left the project after this news.
Besides, I'm really sorry about the news. Mimblewimble could be the next generation of privacy algorithm.

Grin was always a bad investment and not because of this clickbait non-news. Its coin emission rate is not suitable for holding, at least not until a few years down the road when/if the percentage of newly created coins drops below the level of adoption growth.

It wasn't for me anyway; I didn't invest in Grin or Beam.

However, some of my friends found the Mimblewimble algorithm successful and invested in these cryptocurrencies. I talked on behalf of them.

But I have never found the Mimblewimble algorithm useful. Monero and Zcoin have much more powerful privacy algorithms, I think.

suchmoon

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Quote from: plast555 on November 21, 2019, 05:38:06 PM

I meant token holders, not ICO, IEO investors.
I have a lot of friends who accumulated GRIN already. But they left the project after this news.
Besides, I'm really sorry about the news. Mimblewimble could be the next generation of privacy algorithm.

Grin was always a bad investment and not because of this clickbait non-news. Its coin emission rate is not suitable for holding, at least not until a few years down the road when/if the percentage of newly created coins drops below the level of adoption growth.

plast555

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Quote from: suchmoon on November 19, 2019, 04:48:03 PM

Quote from: plast555 on November 19, 2019, 04:39:12 PM

As for grin and Beam, I haven't read the article on the mimblewimble protocol, but reports have taken a pretty severe hit. They lost a lot of investors as a result of this. Cryptocurrency investors are often driven by speculation, I don't know how real or how wrong the news is, but it would be challenging to convince the investors to make invest again who abandoned the project already.

What are you talking about? Grin doesn't even have investors. Their development fund got some donations. I don't think anybody withdrew the donations because of this.

Beam has a premine. How did they lose investors?

I meant token holders, not ICO, IEO investors.
I have a lot of friends who accumulated GRIN already. But they left the project after this news.
Besides, I'm really sorry about the news. Mimblewimble could be the next generation of privacy algorithm.

suchmoon

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Quote from: plast555 on November 19, 2019, 04:39:12 PM

As for grin and Beam, I haven't read the article on the mimblewimble protocol, but reports have taken a pretty severe hit. They lost a lot of investors as a result of this. Cryptocurrency investors are often driven by speculation, I don't know how real or how wrong the news is, but it would be challenging to convince the investors to make invest again who abandoned the project already.

What are you talking about? Grin doesn't even have investors. Their development fund got some donations. I don't think anybody withdrew the donations because of this.

Beam has a premine. How did they lose investors?

plast555

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Quote from: mosprognoz on November 19, 2019, 06:28:57 AM

Quote from: plast555 on November 19, 2019, 06:12:14 AM

Grin and Beam are dead projects now, buddy. That's why I don't recommend using PoS.

Today, someone wrote an article about how to crash the Mimblewimble algorithm by spending $ 60 a week.

I suggest you read it.

https://medium.com/dragonfly-research/breaking-mimblewimble-privacy-model-84bcd67bfe52

That's quite interesting... I guess only zerocoin protocol is the real thing regarding anonymity, but still some problems has been reported.

https://www.chaac.tf.fau.eu/2018/04/12/zerocoinzcoinpivxzoinsmartcashhexxcoin-attack/

Of course not, the Zerocoin protocol almost ended in April when the Veil project was attacked.

After that, Zcoin immediately abandoned the Zerocoin protocol and started using their designs, Sigma and Lelantus. Zcoin was the first coin to provide 100% privacy by creating a perfect algorithm.

Following this, Veil persistently continued to use Zerocoin. But after the subsequent attack, they decided to leave Zerocoin.

As for grin and Beam, I haven't read the article on the mimblewimble protocol, but reports have taken a pretty severe hit. They lost a lot of investors as a result of this. Cryptocurrency investors are often driven by speculation, I don't know how real or how wrong the news is, but it would be challenging to convince the investors to make invest again who abandoned the project already.

rowenta01

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Quote from: mosprognoz on November 19, 2019, 09:48:32 AM

Quote from: rowenta01 on November 19, 2019, 09:30:03 AM

A lot of bullshit is written here ...

What do you mean exactly ? All posts here are bullshit except yours ?

Quote from: rowenta01 on November 19, 2019, 09:30:03 AM

https://zcoin.io/lelantus-zcoin/
Right now they are on Sigma. The Zerocoin protocol was stopped a long time ago ..

Is this some kind of advertising ?

For the first point, the answer has been given.

For Zerocoin, the protocol is broken so it's not a warning it's a fact. Moreover a problem has occurred recently on the project "Veil". They had continued to use the zerocoin protocol for mint and there was an attack (July 2019).

That's why Zcoin implanted Sigma, and then implanted Lelantus. They have real expertise to implement a new anonymous protocol. Few teams have the skills for that. Besides, Lelantus is appreciated by many other projects, Beam / Monero for example.

jacafbiz

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I do think it is possible but do not think in terms of security and decentralization that such a project would gain traction, it is not enough to create a coin, there are many BTC fork out there with no user, You can fork Grin or Beam and add other features to it but do not change it to POS

suchmoon

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Quote from: mosprognoz on November 19, 2019, 09:48:32 AM

Quote from: rowenta01 on November 19, 2019, 09:30:03 AM

A lot of bullshit is written here ...

What do you mean exactly ? All posts here are bullshit except yours ?

The $60 "attack" is bullshit. The guy used a well known limitation of the protocol and extrapolated it to say that he can link addresses. There are no addresses in MW so anything based on that (the scary scenarios that he painted about an evil government coming to get Grin users... grinners? grinnies? LOL) should be classified as bullshit.

mosprognoz

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Quote from: rowenta01 on November 19, 2019, 09:30:03 AM

A lot of bullshit is written here ...

What do you mean exactly ? All posts here are bullshit except yours ?

Quote from: rowenta01 on November 19, 2019, 09:30:03 AM

https://zcoin.io/lelantus-zcoin/
Right now they are on Sigma. The Zerocoin protocol was stopped a long time ago ..

Is this some kind of advertising ?

rowenta01

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Activity: 1216

Merit: 333

A lot of bullshit is written here ...

For Grin and Beam, here is an answer article on the so-called fact that the protocol is broken .. No comment. Many ignorant people speak without knowing!

https://medium.com/grin-mimblewimble/factual-inaccuracies-of-breaking-mimblewimbles-privacy-model-8063371839b9

For the Zerocoin protocol (Zcoin), they have been working for a while on the implementation of Lelantus.

https://zcoin.io/lelantus-zcoin/

Right now they are on Sigma. The Zerocoin protocol was stopped a long time ago ..

mosprognoz

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Quote from: plast555 on November 19, 2019, 06:12:14 AM

Grin and Beam are dead projects now, buddy. That's why I don't recommend using PoS.

Today, someone wrote an article about how to crash the Mimblewimble algorithm by spending $ 60 a week.

I suggest you read it.

https://medium.com/dragonfly-research/breaking-mimblewimble-privacy-model-84bcd67bfe52

That's quite interesting... I guess only zerocoin protocol is the real thing regarding anonymity, but still some problems has been reported.

https://www.chaac.tf.fau.eu/2018/04/12/zerocoinzcoinpivxzoinsmartcashhexxcoin-attack/

plast555

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Activity: 951

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Grin and Beam are dead projects now, buddy. That's why I don't recommend using PoS.

Today, someone wrote an article about how to crash the Mimblewimble algorithm by spending $ 60 a week.

I suggest you read it.

https://medium.com/dragonfly-research/breaking-mimblewimble-privacy-model-84bcd67bfe52

suchmoon

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Quote from: ?? on ??

@suchmoon,

Called It. Wink

Not really:

https://bitcointalksearch.org/topic/m.53113977

suchmoon

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Quote from: ?? on ??

Fact any public blockchain is not private and can not be guaranteed to maintain privacy as at any time it's privacy algo can be broken.
So there is forever a history recorded for the world to see.

MW "privacy algo" is not hiding information that could be broken/revealed, it allows transactions to be verified without knowing the ownership or even the amounts of transacted coins. The chances of that being broken are roughly the same as breaking elliptic curve cryptography elsewhere, e.g. stealing all your bitcoins.

plast555

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I'm not sure about the answer, but there's another project using the Mimblewimble protocol: Epich.cash

You can find the details of the project on this link, https://epic.tech/

crairezx20

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I don't think if they can make a POS coin most of beam and grincoin wallets are offline. So how can keep the wallet staking if the wallet is offline like you said how do they prove if you are staking?

Honestly, it's interesting but impossible to happen that is why no one makes a Mimblewimble POS based yet.

The Beam and grincoin are generally created for offline transactions so I don't think that's possible unless if they want to stake while offline.

mosprognoz

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Quote from: ?? on ??

Proof of Stake needs to record the coin amount to be verified for future stakes.

That was the only thing that is correct from the whole post of yours. I am asking how to solve that problem, because Mimblewimble with POS would be a great coin.

suchmoon

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Quote from: ?? on ??

~

You have no idea what you're talking about, do you?

You're advocating a "3rd party" over trustless decentralized cryptographic system. You seem to be on the wrong site.

mosprognoz

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Grin and beam are only two coins based on mimblewimble protocol. But both of them are POW coins. I just want to ask if there is a possibility to create a coin based on mimblewimble but with POS consensus. That will be some kind of an ideal coin. The problem is that how it will work with POS because there is no way to prove staking. Any answer will be appreciated.

Topic: Mimblewimble with POS (Read 296 times)