Post
Topic
Board Altcoin Discussion
Re: SuperCoin's SuperSend technology, the true p2p decentralized trustless system
by
fluffypony
on 14/08/2014, 06:30:19 UTC
Again, the guarantor is not a communicator in the two general's problem.
1. All communications are signed and verified. There's no fake messages there. Also all messages are point-to-point.
2. All related deposits etc are independently verified by all parties. Posting a fake one does not go anywhere.

I don't think you understand the system at all. What you described is a coordinated attack. If 2 out of 3 are cheaters, then you have no way to prevent the cheating. Like in coin system, is you have 51%, you do whatever you want.

You verify the past transaction by its confirmations. Of course if the whole network is bad, you can't do anything. This is the same that BTC transaction confirmed 6 times, but can still go bad.

Please don't mix the problems here. The blockchain re-org is a normal problem, even a transaction in btc confirmed 100 times can still go wrong. The trustless system is not trying to solve this issue. The trustless system is not for everything you want to mix here. It is a clearly defined one. If you don't understand what it is, then read it again.

A coordinated attack requiring 50% of Bitcoin's network is very different from me running a few hundred guarantor nodes and offering my services to any transactions I pick up. The one is hard, the other is trivially easy.

Blockchain reorg and confirmations have NOTHING to do with malleability. The issue here is relying on the txid, when malleability has shown that the txid can change. This so-called "trustless system" relies on txid's to confirm transactions in an automated fashion. That is bad, stupid, and fundamentally broken.

I'm tired of trying to demonstrate why you're wrong. You pointed out that Cloakcoin's PoSA system is not trustless, and I backed you on that because you were right. But now I see it was just a gimmick, a way of pivoting off that into this post about how Supercoin's system is trustless. Both are broken and flawed, and both are clearly designed by people who haven't the slightest clue about cryptography. I wish both Cloakcoin and Supercoin all the best. Goodbye.