[quote=“peerchemist, post:7, topic:3952”][quote=“K500, post:4, topic:3952”][quote=“peerchemist, post:2, topic:3952”][quote=“K500, post:1, topic:3952”]If cold minting is not implemented would you expose your coins to mint in the future if the price goes up. So if you had say $5000 of ppc would you expose it to the network for a 1% return?
Personally if ppc ever reaches more than $5 i will probably take all my coins offline as i dont think it is worth risking for 1% return. Besides with the 160 million eth theft whats not to say that someone cant do the same to ppc? Someone could highjack your node and take your coins…[/quote]
I have at least three ‘customers’ minting happily with 50k $ worth of PPC on Peerbox.
Comparing Eth with Ppc in this sense is nonsense. Also node highjacking is not a real threat, we also have ‘unlock for minting only’ feature which stops the attacker to do anything with highjacked wallet.[/quote]
Thats exactly what the DAO investors thought too. Point is there can always be loopholes in the code and it is best to assume that there is flaw and be prepared rather than assume that you are safe and end up getting hacked. Anyways i find your claim about node hijacking not being a threat to be flawed since in a pos network the security of the blockchain relies solely on nodes minting and relaying the blockchain.
This might seem like a FUD topic but i believe it is something that should be asked before ppc gets bigger and making important decisions becomes a lot harder.[/quote]
DAO investors did not think, that is why they have invested in the first place. But, the two are not comparable. By comparing the two you show lack of understanding.
Nobody has found a single exploit in Peercoin wallet code in almost 4 years of history. Beside, Peerbox offers 3 extra layers of protection above that.
Peercoin minting is quite secure and it is definitely far less risky than not minting at all where you jeopardize the entire network and therefor your own stake in it.
[size=14pt]Yep, this is FUD. Just like when you were claiming that soft fork will cause OS X users to lose the coins and were urging people to sell.[/size][/quote]
Just because a flaw has not been found it does not mean one will not be found in the future. I see some users guard peercoin as a religion and are not open to any new ideas. Fact is once a network grows and it is no longer run by hobbyists a strong incentive is required to create blocks. Where would bitcoin be with no coinbase reward? Would ANYBODY bother to mine?
Peercoin is in a safe haven right now because it is not very valuable but once the price starts to go up people will try to hack/reverse engineer the code like they are doing with bitcoin and ethereum.
I should probably correct you on your claim that i supposedly told people to sell their coins - If you go back and read my thread i asked what mac ppc users would do at the hard fork. Your attempts to censor such discussions show in some regards this community is no better than bitcoin. I’m not going to point fingers but i have to say in my view long term peercoin will struggle if some changes are not made.