Re: [ANN][MID]MidasCoin|New Scrypt PoM|Backed Value|ATM card|Referral|NO IPO|UNIQUE

Quote from: MidasCoin on September 10, 2014, 01:00:18 AM

Quote from: Multicoin on September 10, 2014, 12:47:44 AM

This coin was on my radar, then I did some investigating.

Because of this: https://github.com/MidasPaymentLTD/midascoin/blob/master/src/main.cpp#L1778
This disallows ANY pool or solo miner from using their own address for a block to be accepted.

Now, skip ahead to here: https://github.com/MidasPaymentLTD/midascoin/blob/master/src/main.cpp#L4290
You CAN mine, but it wont matter what address you or the pool uses, it will automatically go to the 'tax address.'

Now, this is NOT decentralized. Sure, the VERIFICATION of blocks and transactions is decentralized, CONFIRMS are not. Confirms are when blocks confirm each other in the hashchain.

Since you cannot have a different publickey for an address to generate a block (or have it be accepted by the network at any rate) block generation is centralized.

As per the twitter: https://twitter.com/MidasPay/status/509471382871494656
Image ref: http://puu.sh/bsK4G/e04f5782cd.png

Please send the 10 BTC to this address: 1QuinngrXdsMWM3tejsWqrEJYPDF5ZccW

Again the statement to prove is "only central pool/node can confirm blocks/transaction"

Maybe you didn't noticed, but twitter has a link to this same forum, that specify the statement, why you keep playing on words? Do it for real! That's not an ethic discussion of what mean centralized, there is a precise statement!

Prove that only central node can confirm/authorize transactions and you get the bounty.

https://bitcointalk.org/index.php?topic=760755.msg8752074#msg8752074

Challenge is here and is not going anywhere

Prove that only central node can confirm/authorize transactions and you get the bounty.

https://bitcointalk.org/index.php?topic=760755.msg8752074#msg8752074
https://bitcointalk.org/index.php?topic=760755.msg8752074#msg8752074
https://bitcointalk.org/index.php?topic=760755.msg8752074#msg8752074

Regards

If you read, I stated that

Quote

Sure, the VERIFICATION of blocks and transactions is decentralized, CONFIRMS are not. Confirms are when blocks confirm each other in the hashchain.

Because only 1 address can actually get the coinbase (anything else is disallowed) that means that only 1 address can confirm blocks. When you confirm a block, you verify transactions inside. Edit:

Quote

block you verify

In this case, verify meaning that the validity of the transaction in the block is accurate. Not just the hash of the transaction.

Quote

Prove that only central node can confirm/authorize transactions and you get the bounty.

Hence from my previous statement, the central node (according to the blockchain; since the authenticity of anyone else mining on the address CANNOT be made,) is the only node that can confirm blocks and transactions.

As far as I am concerned, this coin is not minable, and you are renting your hashrate to a pool, which as far as I can tell, is not trustworthy.