with gigahash nearing a large hash share…a lot of worry over there, and it fork to pos, pos this and pos that. Not sure anythign will come of it, but you could see a tusnami of BTC being exchanged for PeerCoin at this point.
It is at least putting POS on the map more of the POW’s
the risk of 51% attack is pretty high right now so the cause for concern is very real, and the only solution out there that seems to best resolve the issue and increase network security is POS. Again a great credit to the foresight of sunny king in his coin development, and all the more reason I am happy holding mostly Peercoins now
These are not successful (confirmed 6 times), are they? I thought the above means double spends that were confirmed 6 times, which are not possible except for special cases e.g. when the v0.8 bitcoin-qt was initially released, or during an attack.
Now the possible 51% attack on Bitcoin is actual on the internet, I started thinking of the expresion “when two dogs fight over a bone”. When you have Bitcoin with the known flaws and Litecoin who also can face some problems in the future when volume and energy consumpion goes up, I`m thinking truly that Peercoin is the third dog.
This with the suspicion that Satoshi Nakamoto and Sunny King can be the same person. From one way it sounds plausible. Satoshi worked for several years hard to develop Bitcoin. In April 2011 he said that he had “moved onto other things” and then suddenly stopped replying to queries altogether.
It make no sense that when a man or woman who worked for over 4 years on a worldwide revolutionary project and suddenly decide to go fishing or shoot woodpeckers to save the woods
I`m thinking that he was wel aware of the flaws in Bitcoin in 2011 but it was to late to make decent changes without disadvantage other people who were putting energy in it. Gavin Andresen was it to admit on April 4 2011 that Bitcoin get into troubles when the volume is scaled up to millions per/second and when that happens that you not able anymore to run Bitcoin on you own computer.
To me it make sense that Satoshi start to work on a new project named Peercoin(and Primecoin). He had the experience, knows the flaws and could start over again under the new pseudonym Sunny King.
It’s certainly plausible, but my guess is that we may never know. In any case, even if they aren’t the same person, it’s a nice thought to know that there are at least two people in people with the foresight to design complex systems like the have.
I’ve also met people on the boards here with the skill to pull it off, so who knows
I think simplifying it as bashing is an exaggeration. I’d call it a lively debate on the merits of checkpointing.
At the end of the day:
a) the Peercoin network is alive, functioning, and doing well. +1 for Sunny King
b) So far the Peercoin network is operating as designed. +1 for Sunny King
c) It has a good following, and irregardless of naysayers, a fantastic community. +1 for Peercoin’s Community
All new inventions go through this type of banter. At the end of the day, the community and marketplace decide what works and what doesn’t.
How terrible is it, that the creator of Peercoin has the tools in his disposal to defend us against any attacks? It’s sheer brilliance that he put that into the design of the coin in the early stages of launching it.
Proof-of-stake was untested in this magnitude. It would be terribly irresponsible if Sunny King DIDN’T put central checkpointing in while he witnessed his creation in the wild.
Again, more loud mouth arguing noise on reddit. Geesh I hate that place.
That does not matter, he still can’t 51%. He would need to control that 2.1M Peercoin account (top Peercoin holder), divide it into 10K transactions and try to double spend by controlling the PoW and PoS with those 10Ks, but that still would not guarantee 520 blocks in a row…
[quote=“FuzzyBear, post:4, topic:1392”]D7 ~ 50TH
Fixx ~ 15TH
Ecoining ~ 60GH
I didn’t see multipool.us quoted there.
You can force your miner to only mine Peercoin on multipool.us by specifying port 3335 on their pool. Even though multipool.us is currently pointing their SHA256 miners at Bitcoin (as of right now, this moment)…
…there is still 59 GH/s mining just Peercoin at multipool.us
When this happens, it takes a long long time for blocks to be found (last one was 10 days ago or so), but people get a higher payout since the coins aren’t distributed with as many miners.
Perhaps some of us should be going to multipool.us to even out the score?
I’ve said it before and I’ll say it again. Checkpoints are a good thing… At least at this point in history. I’d be freaked right now if I had considerable holdings in Bitcoin, Namecoin, Litecoin et al.