You want to do an ico to raise money to rob people of their btc, do I understand this correctly?
Wrong.
Topic: [PRE-ANN] RecoveryCoin - ECDSA-based cryptocurrency with fair mining - page 4. (Read 3085 times)
January 19, 2017, 07:02:37 PM
Wrong.
January 19, 2017, 06:38:38 PM
You want to do an ico to raise money to rob people of their btc, do I understand this correctly?
ya haha its kinda hard to say WHAT they even need money for ;p
i am down for "Proof of Attack - Earn REC for only attempting to recover Bitcoin addresses" -- but i still dont see why they will need funding to setup a server for people like at vanitypool where stuff can be posted for people to crack at. seems like that could be done out of pocket, maybe add a 1% fee to the "EDSCA Pool".
course on that note, we already have an open non profit at http://lbc.cryptoguru.org:5000/about that is as i understand it basically an "EDSCA Pool" (tho not set up for incentives as this maybe could be)
idk, time will tell ;p
But they want to do more then attempt, they want to clean the address out. Correct?
January 19, 2017, 06:37:25 PM
You want to do an ico to raise money to rob people of their btc, do I understand this correctly?
ya haha its kinda hard to say WHAT they even need money for ;p
i am down for "Proof of Attack - Earn REC for only attempting to recover Bitcoin addresses" -- but i still dont see why they will need funding to setup a server for people like at vanitypool where stuff can be posted for people to crack at. seems like that could be done out of pocket, maybe add a 1% fee to the "EDSCA Pool".
course on that note, we already have an open non profit at http://lbc.cryptoguru.org:5000/about that is as i understand it basically an "EDSCA Pool" (tho not set up for incentives as this maybe could be)
idk, time will tell ;p
January 19, 2017, 06:29:22 PM
You want to do an ico to raise money to rob people of their btc, do I understand this correctly?
January 19, 2017, 06:05:49 PM
This is really interesting. Have you calculated the chances of "recovering" one key from these addresses?
Yes we have. It is just used as an anchor to produce fair mining. Any client accidentally recovering one of these keys will be the key's new owner.
It's an ingenious cryptographic point as far as capturing mindshare goes. I mean, you could anchor to anything, but that particular anchor and the lottery ticket thinking it produces make for a compelling reason to get on board.
I'll be watching this project for sure.
January 19, 2017, 05:51:22 PM
ooo this IS interesting... you should really be serious about this, some specs, a solid plan, this is something i could prob get onboard with 
ooo September is a long time, which is kinda sweet as it gives this time to evolve, tell us more, this sounds cool man!
course some might get mad your "breaking BTC" ;p
Good Luck! watching for sure!
Edit: just saw the whitepaper, theres some more info in there, sweet!
ooo September is a long time, which is kinda sweet as it gives this time to evolve, tell us more, this sounds cool man!
course some might get mad your "breaking BTC" ;p
Good Luck! watching for sure!
Edit: just saw the whitepaper, theres some more info in there, sweet!
January 19, 2017, 05:49:58 PM
This is really interesting. Have you calculated the chances of "recovering" one key from these addresses?
Yes we have. It is just used as an anchor to produce fair mining.
January 19, 2017, 05:41:47 PM
This is really interesting. Have you calculated the chances of "recovering" one key from these addresses?
January 19, 2017, 05:01:30 PM
RecoveryCoin introduces new cryptographic features, improved blockchain technology and a full cryptocurrency system.
Specifications
Algorithm: ECDSA
Block time: 15 Minutes
Reward: 1 REC
Features
PoW Addresses - Readable 32 digit addresses, secured against brute-force attacks
Fair Mining - Always the same reward for the same computer power
ECDSA Hashing - Blocks chained on a curve
Proof of Attack - Earn REC for only attempting to recover Bitcoin addresses
Operating Systems
Linux/Windows/OSX
Whitepaper
http://recoverycoin.info/whitepaper (few tweaks expected)
Mining
ECDSA FPGA implementation & virtual image will be available for Amazon EC2, see:
https://aws.amazon.com/ec2/instance-types/f1
ICO / Donations
Deposit any amount in BTC to 19vVPuzXPBUiNdnr6KZwYP9rAtdtWkDjqi until 2017/03/01
Get x150 to your parallel REC address
(using the same private key of the BTC address you've sent from; funds will be hardcoded into the genesis block).
Launch is expected in September 2017.
Want to contribute? Please contact us or post your opinion in a comment.
UPDATE
More progress available on github: https://github.com/bit-alchemists/RecoveryCoin
For any help on how to build and run, or if you have any question about the code or the architecture please ask in this thread and you will be answered. Also we would appreciate your insights and comments. Why use PoW addresses? Harder to crack, saves space on the blockchain and keeps the coin away from mass trading. Also, while generating the address the targets may be hit (rewards are generated at transaction level and not at block level).
We're looking for people who understand what we are doing. Please contact us!
Next aims:
- Transaction assembly and transaction pool
- Block assembly
- Networking
- More uses for the technology (need your help with ideas)
Demo screenshot:
http://i.imgur.com/BKTbTJM.gif
Valid private keys:
64EDCC5591868C62AD176606D22F497B7C87364119DE046B17ADE979101AE648
B455555CC62F1408BAB5D5BA957E5A53D5E13D813B68B9B8867A8A7F2B91F76B
More progress available on github: https://github.com/bit-alchemists/RecoveryCoin
For any help on how to build and run, or if you have any question about the code or the architecture please ask in this thread and you will be answered. Also we would appreciate your insights and comments. Why use PoW addresses? Harder to crack, saves space on the blockchain and keeps the coin away from mass trading. Also, while generating the address the targets may be hit (rewards are generated at transaction level and not at block level).
We're looking for people who understand what we are doing. Please contact us!
Next aims:
- Transaction assembly and transaction pool
- Block assembly
- Networking
- More uses for the technology (need your help with ideas)
Demo screenshot:
http://i.imgur.com/BKTbTJM.gif
Valid private keys:
64EDCC5591868C62AD176606D22F497B7C87364119DE046B17ADE979101AE648
B455555CC62F1408BAB5D5BA957E5A53D5E13D813B68B9B8867A8A7F2B91F76B
Specifications
Algorithm: ECDSA
Block time: 15 Minutes
Reward: 1 REC
Features
PoW Addresses - Readable 32 digit addresses, secured against brute-force attacks
Fair Mining - Always the same reward for the same computer power
ECDSA Hashing - Blocks chained on a curve
Proof of Attack - Earn REC for only attempting to recover Bitcoin addresses
Operating Systems
Linux/Windows/OSX
Whitepaper
http://recoverycoin.info/whitepaper (few tweaks expected)
Mining
ECDSA FPGA implementation & virtual image will be available for Amazon EC2, see:
https://aws.amazon.com/ec2/instance-types/f1
ICO / Donations
Deposit any amount in BTC to 19vVPuzXPBUiNdnr6KZwYP9rAtdtWkDjqi until 2017/03/01
Get x150 to your parallel REC address
(using the same private key of the BTC address you've sent from; funds will be hardcoded into the genesis block).
Launch is expected in September 2017.
Want to contribute? Please contact us or post your opinion in a comment.
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