Attacks on blockchains do happen. We have the Auroracoin example: Auroracoin - Forked and Game Over
[quote=“sabreiib, post:59, topic:3424”]
Network effects cannot be replicated.
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You are replicating PPC network effect now.
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The price of replicating a network plays critical role. The scarce hardware!
Behind telephone network, is telephone and communication infrastructure(eg. telegraph pole) which is not cheap.
Behind cellphone network, is base station, which is also expensive.
Behind PPC/Neucoin network, is Raspberry Pi, LoL a Raspberry Pi can run several PoS network I am afraid.
Behind Facebook network, is expensive/power consuming data centre.
The price of replicating a PoS coin network is as cheap as Raspberry Pi. A PoS coin capitalization is always cheap compared to BTC network, once a PoS coin price rises a lot, the imitators will come, and imitators are not scarce at all.[/quote]
Agree that network effects are the keys to the kingdom.
How can one judge the potential of any coin other than bitcoin to achieve network effects?
I would look at their team, their financing/investors, their distribution strategy, their marketing plan, their product development plan, their technology.
NeuCoin has presented much of this information on neucion/wiki. We are still new, so it’s definitely a work in progress.
I believe that the only other coin that scores well on these factors is Ripple, but its market cap of $800M seems high relative to its actual accomplishments so far.
[quote=“Dan Kaufman, post:62, topic:3424”][quote=“sabreiib, post:59, topic:3424”]
Network effects cannot be replicated.
-
You are replicating PPC network effect now.
-
The price of replicating a network plays critical role. The scarce hardware!
Behind telephone network, is telephone and communication infrastructure(eg. telegraph pole) which is not cheap.
Behind cellphone network, is base station, which is also expensive.
Behind PPC/Neucoin network, is Raspberry Pi, LoL a Raspberry Pi can run several PoS network I am afraid.
Behind Facebook network, is expensive/power consuming data centre.
The price of replicating a PoS coin network is as cheap as Raspberry Pi. A PoS coin capitalization is always cheap compared to BTC network, once a PoS coin price rises a lot, the imitators will come, and imitators are not scarce at all.[/quote]
Agree that network effects are the keys to the kingdom.
How can one judge the potential of any coin other than bitcoin to achieve network effects?
I would look at their team, their financing/investors, their distribution strategy, their marketing plan, their product development plan, their technology.
NeuCoin has presented much of this information on neucion/wiki. We are still new, so it’s definitely a work in progress.
I believe that the only other coin that scores well on these factors is Ripple, but its market cap of $800M seems high relative to its actual accomplishments so far.[/quote]
Although I don’t believe Neucoin can overtake BTC, you will give PPC a hard time.
There was a discussion last week with Sunny King and team members from NuBits and Peerunity, including people knowledgeable about proof-of-stake. The result of this discussion is that Sunny will be working on a potential fix for the attack described in the Neucoin whitepaper.
That’s a very good news! 
I don’t think the word “fix” is suitable for this situation, the word “improve” may be better. No significant changes against the hypothetical attacks were proposed in NeuCoin’s white paper.
Yes, I think this is pretty accurate.
Yes, I think this is pretty accurate.[/quote]
IMO, “fix” means something wrong required to correct. There is nothing wrong using stake modifier to prevent PoS from attacking. The calculation of stake modifier can be changed to better protect PoS.
This point of view is my conclusion after I read NeuCoin’s white paper and the comments in kernel.cpp in PPC source codes.
Comments in kernel.cpp:
// Stake Modifier (hash modifier of proof-of-stake):
// The purpose of stake modifier is to prevent a txout (coin) owner from
// computing future proof-of-stake generated by this txout at the time
// of transaction confirmation. To meet kernel protocol, the txout
// must hash with a future stake modifier to generate the proof.
// Stake modifier consists of bits each of which is contributed from a
// selected block of a given block group in the past.
// The selection of a block is based on a hash of the block’s proof-hash and
// the previous stake modifier.
// Stake modifier is recomputed at a fixed time interval instead of every
// block. This is to make it difficult for an attacker to gain control of
// additional bits in the stake modifier, even after generating a chain of
// blocks.
As I argued above, I still think fixed stakemodifier has a positive impact of blocks found by the network. Since the attack in the NeuCoin white paper is effective in long range, is it possible to use current stake modifier for utxo age less than a year and use more unpredictable stake modifier for those older than a year?
Hi!
I’m reaching out to ask for the Peercoin community’s feedback on another topic. We are considering a distribution program whereby a fraction (3-5%) of NeuCoin’s 3 billion coin premine would be distributed to existing holders of select digital currencies: Peercoin, NXT, Bitshares, Blackcoin, Nubits, Ripple(?), Stellar(?) and potentially Dogecoin (Jackson Palmer is a strategic advisors and Doge has been a pioneer in terms of wide distribution and micro-transactions). Peercoin would get special consideration since NeuCoin is a fork of Peercoin and Michael “sigmike” Witrant is one of our technical advisors.
The goal of the program would be to involve the PoS community and achieve the fairest and widest possible distribution of NeuCoins to early adopters who are experienced with crypto in general and PoS in particular. The program fits with NeuCoin’s foundational principle of distributing the currency not just to miners, but to all participants in proportion to their contribution to growth in value and utility - so to consumers, merchants, developers, content creators, service providers like exchanges, wallets, processors, etc.
We ask you for your general feedback on this program, as well as input on the following specific questions:
[ul][li]What factors should we consider when deciding which altcoins to include? Just PoS coins? Ripple, Stellar? Certain PoW coins like Doge and LTC?[/li]
[li]What percentage of the program’s coins should be allocated to each altcoin? We want to be “fair” but more importantly want to allocate in the way that optimizes the growth and adoption of NeuCoin.[/li]
[li]What should the distribution rules be? We want wide, fair distribution, meaning that we don’t want the majority of the coins going to a small number of altcoin whales. Should distribution be pro rata above/below a certain line? We are considering having a fixed payout ratio for each altcoin (X NeuCoins per Peercoin) with a minimum and maximum payout for each address. What kind of minimum and maximum payouts per address do you think make sense?[/li]
[li]A last question - on what date should we take a snapshot of each altcoin’s blockchain to determine eligibility for this program?[/li]
[li]Any other aspect or consideration you want to bring up?[/li][/ul]
We hope you find this interesting and look forward to your feedback.
If you want more information about NeuCoin’s distribution, we just published a Strategic Plan on neucoin.org. We also just released a new questionnaire in which we ask respondents about the above distribution program among other things - and we’re rewarding everyone who completes the questionnaire with up to 2,500 free NeuCoin. We also just announced the details of our presale that starts on April 28.
Thanks, and let me know if you have any questions!
I actually created a dedicated topic here: https://www.peercointalk.org/index.php?topic=4075.new#new for more clarity!