Topic: Notice:: PROJECT X, Come Join the Movement - page 8. (Read 12607 times)

If there is a rock solid way of doing it, lets find it and i will use it. I promise to search diligently. But my understanding of how proof of ownership works with BTC based currencies, is that you need private keys in order to claim and control your coins, there is no way of getting around this since it is the backbone of the security which prevents arbitrary claiming of coins by any random individual.

So that is all you take from this...how much i will have?

talk about priorities.


So my implementation should be based on hypothetical scenarios? Well then hypothetically, this reaches 1 dollar per coin...will we still have potentially unclaimed majority?

Hypothetically, a new laptop comes out and it does 500TH/s Scrypt mining, what then will Litecoin become the ne world currency?

People are free to participate or not, i am not asking for anyone's money, matter of fact i am offering them value less tokens that will only gain value depending on how they are recieved and traded. So yes, i will be holding on to my good 1% of the total supply, worthless or not.  

There is no IPO ICO or anyone holding a gun to your head, its a simple choice, in or out.

Couldn't users just sign a message proving ownership of their address in a particular coin?  There is no need to expose users private keys.

Only the almost dead coin holders will be interested in this. The bigger coins will just dump their share and carry on with their own chain.

1% premine, with potentially a lot of this remaining unclaimed means he will have a huge share.

LOL, this is antimatter syndrome, very strong effects i see.

Lots of fear about the community coming together as one in this currency. Is it such a threat that people resort to FUd to try and kill the idea?

1) Your comment assumes that private keys have some other job other than proof of ownership. 
2) You raise the issue of key loggers
3) You claim that this enables having password gives access to all private keys
4) You then suggest a method of proof of ownership that does nothing for Proof of % stake and has no means of redeeming said stake.

And i answer

1) The job of private keys is proof of ownership with the ability to redeem which is what I am acheiving with my method
2) Key loggers have always been around and it is your responsibility to make sure you do not install any on your computer, does BTC have any anti- keylogger code or are you asking me to make one for you?
3)Which password do you mean? if it is the login password, am i supposed to start teaching people to create secure login passwords? If it's the wallet password, am i supposed to teach people how to secure their own respective wallets? NO to both questions, it is your job as a user to secure your wallet. It is like that with every coin.....why are you looking for it to be different here?
4) Your method can prove address ownership...but do tell me HOW will someone be able to redeem? It is called a public key because it is public and available to all. Your coins are yours because you have the private key to prove it.

Funny how a lot of coins have done chain swaps and distributions in a similar manner without any of the issues you are trying to invent.

So long as the code is open source, it can be reviewed at length anytime.

Wait, so you are saying that after we import using our private keys we/someone can't use dumpprivkey after unlocking the wallet?

Great idea, i like it. Whats with the shitton of negativity?

We are satoshi added to list of participating coins.

Yes, that is actually the way it is meant to be, open source software must be vetted all the time, it's made open source to increase trust because if there is anything funny in the wallet, it will be discovered and reported.

How do you suggest that people gain control of their share without use of a secure means available only to themselves?

This is simply an adaptation of the use of private keys there is no change in how they function. Their purpose is not wallet recovery as a lot of people seem to think, private keys are your proof of ownership.  Public keys and addresses just server to tell/describe where to send a transaction and i see no way of accurately distributing the coins without use of addresses. And the only way you can redeem coins attached to a particular address, is to have the proof ownership.

A lot of if's in your statement.

FUD


Your statement has no basis in fact and is mired in suscipicion, if you can present some solid grounds on why i'd release a malicious wallet, then i'll take your comments into consideration. I'd rather not moderate this thread, but it would be wonderful if you'd post something with substance.

Security and privacy concerns are important, but lets not try to raise them as a means of FUD in this thread, genuine questions and concerns will always get my full attention.

The whole issue is unless the wallet you provide is inspected every single time it's released or updated, you could just take everyones private keys on a whim.

You should really come up with a better distribution method.

I think that only applies if you use a wallet other than the one i will provide. The risk is there for those who go outside the prescribed directions, the keys are only imported and no other copy is kept, so if your wallet is kept secure there will be no problems.

As for key loggers if a user opens themselves up to it then there is little we can do to help , it's no different a situation from right now, you could be unfortunate enough to have one on your machine already trying to get at your keys, how is that in anyway related to this project?

This is a crypto currency that will be based off Bitcoin code, securing your wallet is your job , how have you been keeping them safe all this time and how does this project change that?

Again this is just FUD since all the security issues are on the users end not the actual app itself.

As for using your suggested method, i agree that would be great IF it was possible, but we are not worried about ownership in this case. we are concerned about your balance to use to calculate your % stake.

The method you described above still requires you to have a way to redeem the coins attached to your address, which plain and simple is still your private keys.

Yeah you are. If I download your "barwizi wallet" and import my private bitcoin keys into it, you'll have the keys if the wallet is malicious.

This is stupid. Anyone who imports their private keys into this "Universal Wallet" is a fool.

Then you really dont knwo why BTC is trusted or any other coin for that matter, they are trusted because they are OPEN SOURCE, ie, if you have any doubts you can read the code yourself. Your question is a genuine one and i'm not frustrated, just that you seem to think there are categories of being open source.

either way, you are free to participate or not, so if your concern is your private keys then either read the code or leave well enough alone.

Basically I agree that using private keys for anything other than their original intended software is a bad idea, I mean for one thing it makes this project a lot higher of a target for keyloggers given that they now only need 1 password to access EVERY private key you have imported. It would be better if we could just sign a message using our original wallets and somehow use that as a private key that way everyone is one step removed risk wise and still able to prove ownership.

There is a BIG difference.  BTC has been around a long time and I would be moving keys between trusted wallets.  However, I don't know you, your coin, your software, or your full intentions.  Also, when I ask reasonable questions and you seem to get frustrated, that is a bad sign.

How is that different from moving your BTC keys from one wallet to another In that case we should completely abolish the whole idea of private keys from crypto altogether. If you have doubts, how about looking through the source code when it's available, else all this is is FUD.

unless of course you really are confused 

If I am confused then perhaps you can help.  Are you saying that you don't need to input other coin's private keys into a XUC wallet which communicates with the internet?  Are we just signing messages to prove balances?

That's a great idea, thanks! will definitely incorporate. Any guesses at what can be considered a reasonable time-frame? a decade is a bit long... maybe 5 years?