Topic: NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS - page 269. (Read 1053172 times)

Yes it's me with my 45k Nobles and 1000hashes exploiting the vulnerabilities of our great coin to force a change to PoS

Jokes aside though I really do think PoS or some kind of hybrid PoS is the next step for crypto's if you want to protect yourself from Asic's and also to avoid having to worry about hashing power for the network BUT there does need to be an advancement in the methods of PoS to protect from 51% attacks which with current prices of Noble is easily attainable but also less attractive a method to use for double spending as opposed to 51% hash power (why would you want to kill the price of your 51% share of coins ?)

Haha, are you saying that you attacked Noble?!!

Have you thought that perhaps we're being attacked this way by someone who wants us to change to one of these "fads" like x11 or pos ? likely to increase value of Noble so they can make bank.

Personally Rofo I would say switch to Pos, it would get rid of the need for us to rely on miners, Asics would no longer be an issue and you could modify the Pos script so that 1 wallet can only stake say 1million coins at a time in order to protect us from 51% attack, you could also incorporate darkwallet (not to be confused with darkcoin) https://darkwallet.unsystem.net/ for those who want anonymous and hey presto we got ourselves an improved coin with some attractive properties

Thanks, now I understand.

So, maybe some ppl will join the mining, if we tell everybody (twitter, etc...) that NOBL is the only coin beeing attacked so hard for so long? (edit: at least on MP it is a fact)
It just feels not fair to me.
Maybe there are others who feel and think the same?

For now the longer confirmation is not an optimal, but passable measure against these interferences.

However, it's incredulous that other coins can be so set against Noble, other than the fact that Rofo's pdf was too truthful for their liking.

We as a community should gather together and support  the coin through active measures such as scouting for more technically inclined people, and hiring miners to ensure security of the coin blockchain.

Nolbe isn't going anywhere - these attacks have happened in the past in other forms, and we braved through them regardless.

Big question is, what impact will the future events hold? As long as we keep the blockchian secure or minimize the impact of these attack, we perservere and endure.

These attacks are actually inevitable when a coin with strong, dedicated dev decides to make a stand and call spade a spade. These are acts of petulant tit-for-tat (there was no tit from the beginning but greedy ones see competition everywhere) against not only the coin but the dev's idea of crypto currency, by attempting to discredit him through devaluing the coinage he made.

We should each support and actively seek to protect our coin by searching out for miners, technical specialists, and other means to let everyone know our coin isn't going anywhere.

Stay Noble.

Not quite. Someone builds a separate private chain with enough hashpower to ensure it will ultimately be longer than our current public one. They send a transaction from our current chain to an exchange, dump it and withdraw the BTC. Once it's all said and done they unload their longer, private chain onto the network which doesn't have the original deposit so it's as if it never happened and they keep their NOBL. They've already received their BTC, so by that time it's too late to protect the exchange. All the orphans are a result of our current public chain being overwritten by the privately built one when it's unloaded on to the network.

I see it like this: someone deposites NOBL twice (but only one of the deposits is from correct chain). An exchange accepts both deposits. Then the 'actor' sells both parts, and the loss takes an exchange in the moment of withdrawing the resulting BTC. So the xchanges try not to accept two different chains in the first place, increasing the confirmation times.

Exchanges have varying measures of protection against them. And yes, they have to cover the losses generally as they're the service that's been 'abused' and left at a loss after an attacker withdraws his BTC. The amount they told me they have lost is staggering.. and they say we're the only coin consistently being targeted..

I don't get it, when the attacker sell his double spent coins and then withdrawal his BTC,
Who pay the NOBLE coins? the exchange cover it with some stock he has and take the loss?

Mintpal already has a BIG number of confirms for depositing NOBL (after 139 last night, and still PENDING, I gave up counting).
Edit: OK, now I know.

A couple have disabled deposits for now, Mintpal had us on 100 (which surprisingly still wasn't enough) and have now put us to 1000. We're gearing up between ourselves, and asking anyone else interested, to start a mining group that secures NOBL and keeps the coins. Not something I'd really push though regardless, we in no way expect anyone to mine at a loss unless it is something they wanted to do anyway because they believed in larger returns in the future.

Right after I read this I saw a new buy wall on mintpal
0.00000016   61090136.44682990   9.77442183

Maybe someone is happy about this situation and wants the attackers to keep going so he can buy cheap coins?

I would consider asking all exchanges to use more confirmations for noble deposits, this should solve the problem at least until the network will get bigger.
Block time is 1 minutes so 12-15 confirmations are legit.

shoutbox @ poolerino

X11 is just as vulnerable to dumping from FPGAs and botnets. ASICs are also being embraced by the developer of X11, it was just meant to delay them until X11 is as old as Scrypt.

That being said, I need to give some information about what has been happening to us lately as it's come to light. I'm personally a little sick of the BS everywhere in this scene.

NOBL has had a hash of between 1-4GHs this past month, with difficulty between 10 & 40. For a Scrypt altcoin, we're relatively secure.

We have been consistently targeted for 51%/double-spends for a week or so it seems (the last being in the last 12 hours), to decrease confidence, to decrease price, to tempt exchanges to delist us. We have a few options, we can either go PoS (vulnerable to double-spends via stake among other unknowns/weaknesses), we can consider introducing centralized checkpointing similar to FTC (an idea a lot of people really don't like), which was also considered by others last year during constant 51% attacks on scrypt, we can and do continue to promote merge-mining, however larger operations aren't generally interested in a sub $200k marketcap coin, or we can constantly revert mining & transactions via hardforking (over and over and over again every time a 51% happens, adding more damage to us). Or we can keep growing and building the hashrate naturally without giving bad actors incentive to constantly try and abuse our chain.

This is great FUD, I admit that, it's perfect. What I can only do right now is ask people to consider mining and using NOBL rather than leaving buy orders. Leaving buy orders gives them more incentive to constantly 51% us and abuse exchanges for profit. We need to grow the hash/security of our network naturally without tempting people to abuse us for profit on exchanges.  

Ask yourself if you'd really like to work and try make NOBL a longer-term coin and don't care about price. If you don't feel that way sell now while we continue working. Otherwise we need people out there building, spreading the word, promoting, using, accepting NOBL and introducing it to their friends. The premine won't be moving because I already get enough accusations, but it will be going to some exchanges over time provided they can confirm the movement is legitimate.

In the meantime please post suggestions, advice, etc. while we consider what our next move is. I'm sorry, it would just be wrong to prattle on as if we were LTC 2.0 and didn't have our own vulnerabilities, growing pains and issues to deal with. We are in talks with multiple parties, as well as gearing up for a more secure chain that would make us less worthwhile to do what they have been doing to us.

Short-term what we need is a higher hashrate for security with less buywalls on the exchange so people stop trying to take advantage.

Hey Devs,

We detected a doublespend on the network tonight and disabled our wallets... has anyone else noticed this behavior?  We will keep the wallet disabled until we hear from you.

Thanks,
Richie@bittrex

   Sending you a PM.

no way x11 is a fad, then when asics come for x11, and they will, what then? switch algos again. NobleCoin is Scrypt and should stay that way. IF they changed to X11 i would dump my coins instantly. 

These lies about not being able to mine with a GPU once asics come is straight garbage, that's exactly what pools are for. Not to be harsh on you

I think Noblecoin devs should look at forking to X11. The perception is that the new powerful asics 300mh will wreak havok on scrypt coins and "they" may be right this time. X11 is not a fad. It's what ppl want to invest in.

If you successfully forked to X11 coin prices would no doubt rise because people perceive X11 as superior, and they want to continue mining with their GPU's. In a couple months you wont be able to mine Noblecoin with a GPU.

EDIT: I'm not down on Noblecoin, I hold a good bit, and think this is one of the few coins that has a chance long term. Noblecoin has a terrific community and dev team, but I also think innovation is necessary.

I dont know if its the future, but its one of the few I like, but I'm a holder and will be that for sometime