Topic: [XC][XCurrency] Decentralised Trustless Privacy Platform / Encrypted XChat / Pos - page 828. (Read 1484248 times)

We need to know when XC team will release updates. This is important things to announce. Progress etc.

It is very interesting here, to listen to Dan's authorized opinion Or may be other devs to say a word on this problem?

Couldn't have said it any better myself!

I've recently decided that I am done chasing a quick buck on the pump and dump of the week.  Sure I could easily turn up to a 50% profit within days but it could easily end up being a 50% loss if I weren't watching the market 24/7.
I felt like I couldnt sleep many nights because that dump could easily come at any time and I could lose it all.

We are going to see an altcoin crash very very soon as many are getting sick of seeing 20 new pump and dumps a week.   To be honest I hope it comes sooner rather than later as they are giving the legit coins a bad rep.

For me I'm done chasing the quick buck and have cut my holdings down to XC and 1 other coin which I have held for a very long time.  After you see how all the scam coins work or coins run by a couple of teenagers out of their Mom's basement you can appreciate what is truly being developed here.  This is game changing and I will be there when the world realizes it.

His name is Dan.

Seriously if XC did have any problems with POS code, then i'm quite confident that that Dan would fix it in no time.

I'm pretty sure when he sleeps, he dreams lines of code

You are right, pools are the problem of PoW.

But I mentioned, PoS can be attacked even easier, there is no need to possess 51% of all coins, just 51% staking ones. And it makes PoS to be attacked by hidden way.

As with PoW & Ghash.io - there is no possibility to hide such an electricity power, so the problem is 'bright shining', not 'accurately hidden' as in PoS coins.

So, generally speaking, PoS are much more vulnerable, but some tricks may fix it...

Does XC has that tricks to resist 51% staking attack, still being PoS?

Come on Dan release that code, change our lives

I don't understand why PoS coins are more of a concern than PoW?  Doesn't Ghash.io have more than 51% of the hash power on Bitcoin, or very close? If it's possible for a pool to gain 51% or very close to 51% on BITCOIN, then I don't see how any PoW can be safe in the near future.  So far, it seems much easier to attack a PoW than PoS.  Heh?

A couple of years down the road there will be many competing exchanges and most will only hold a small percentage of the outstanding issuance of any coin.  I see this as a problem that corrects itself over time.

i fell XC attracts a certain type of community, one that believes in human rights, freedom and hasn't forgotten the government works for us, love the XC community.

Yes thats correct. Apart from that well written.

100% agree, nice summary
Pleasure to live this adventure with the XC community

Dutch Community decided to use English for communication

You can always join the Dutch sub-thread on our dedicated forum www.xctalk.com

i could be wrong but I'm positive DRK was the first to use X11 if I'm wrong i apologize, article looks good and would catch the eye of any investor, thank you.

Thank you, its kind of you to say so.

So as one can conclude, PoW coins are much more resistant, than PoS ones, in general, because 51% PoW attack needs 51% hash power, itself leads to expensive mining equipment & large pools.

But what about XC itself, being PoS coin, situation remains unclear to me... So, it will be very useful if somebody explains how XC behaves in that situation.

i know ppl around here hate price speculation, but i look at this way, you have a crypto here that is superior to BTC in a lot of ways.
only 5 + million coins, fully POS so no new coins entering market so price is more stable then BTC DRK LTC etc.
 a lot faster too confirm transaction's making it more usable for wide spread adoption then other coins( plus we will have payment cards in the near future basically a debit card for XC)                                                                                                                                                  

it's got interest incentive via POS and Xnodes, encrypted & anonymous messaging (almost running) 100% anonymous transaction( running) both will become highly valued the more things are leaked and the government corruption on mass spying and intelligence gathering is exposed world wide.
also a hard working team, who get things done on time and over deliver, a Developer with excellent credentials, a transparent identity, and a vision that makes sense, all this adds up to a product that can dominate in the near future, if XC is marketed properly and i believe they will since we have a DEV who has helped run major company's in the past , therefor experience in managing major company's and that is what XC is set to become in the near future, but also no doubt he is contact with professional marketers who know how to sell XC, BTC's rise had a lot to do with the crises in Greece, lets be honest, the financial system world wide don't look good, a lot more country's banking institutions are going to be doing bank runs in the future, people are going to want to put there money into a solid asset before it's taken(gold and silver is hard to smuggle over borders a USB isn't), like citizens of Greece did.
if you had the decision of putting your money into BTC that isn't anonymous or XC that is, which would you choose knowing your bank owned government will take anything they can catch you with to please there masters, what would u choose? ( i know right now u need BTC to buy XC this will change in the future) the conclusion is the price of XC if marketed properly can be worth much more then BTC, it will ride on BTC to establish adoption quicker then it has, and price will not take years to take off because investors are on the look out for the BTC 2.0(and it's here) it has come around at the perfect time when government run surveillance is no longer conspiracy theory but conspiracy fact, and also when the financial system is extremely shaky and people getting nervous, XC has the perfect storm brewing to take it to prices never before seen in crypto, don't forget BTC has a tiny market cap compared to what it could, to be worth a million each even with all coins mined, it only needs to catch 1% of the world GDP and a lot of top investors and financial annalists are certain it will....what can XC be worth a product that is better, actually everything BTC wanted to be when it was first created and over 5x less product, 5x more rare..XC acceptance, recognition and major price spike will not take years and years like BTC, it has BTC's foundation to ride on, the future is big and bright for XC. congratulations to all who plan to hold long term it is by far the best decision you will ever make.

Is there a bounty available for a Dutch OP translation?

I don't know if it's accurate..but it is well written

There are people who will be able to explain that in deeper detail and much better than I can, but the important point is you dont need 51% of the coins, its 51% of the staking coins and not even that because I believe you have to factor in coin maturity (51% of the network weight is needed). Since alot of people are keeping their coins at an exchange and the exchanges are not staking the coins, an attacker needs considerably less than 51% of the coins.

That was the problem with NAV I believe. The theft of vrc from Mintpal would likely have killed the coin, because a criminal subject would have posessed 30% of the money supply, which woudl have been an open door to attacks. When coin2 was attacked the second time the attacker had around 30% of the coins, which was enough to perform the attack.

Thats as far as I know, please correct me if I am wrong.

POS 51% attack doesn't necessarily acquire 51% coins.

it is possible to initiate such attack by owning 51% STAKING coins.

so if all the coins are in wallet and stake, the network will be secured.

the attack happened to C2 and NAVAJO is same.

the attacker owns a large amount of COINS, but not 51% of ALL COINS. most "investors" deposited on exchanges, cuz ppl do not have much faith in P&D coins. and exchanges do not stake.

so attacker can easily initiate double spend!

i don't think XC has such problem. and XC adopt POS like PPC, that is what i know best.

I learnt don't watch at the price for long long time. Trying forget about my holding and just wait for all summer. Not going to sell my amount unless it will get drop untill 0.7 usd each.