Re: [ANN] BlackCoin (BC/BLK) | PoS | BlackHalo | Smart Contracts

BTW, little bit OT, did miss it since i am hospitalized for 10 days now: any real reason why BTC is dropping like a stone? Or the usual gamblers dumping BTC for alibaba stocks?

http://www.coindesk.com/downward-pressure-bitcoin-price-declines-to-near-400/

Hope you get better asoon.

thanks!

Quote from: Viper1 on September 20, 2014, 06:30:21 AM

What the heck happened with this coin on Aug 3rd? The hashrate just skyrocketed and if bitinfocharts is right, it's roughly 100x that of Litecoin. I don't know much about some of these coins but near as I can tell from that site, BC would be maybe 3rd overall in terms of hashrate only behind bitcoin and namecoin. That just seems so hard to believe. Is there something odd about the BC hashrate? I mean if it's real, that would make it the 3rd most secure network around wouldn't it? Assuming of course most of that hash isn't in the hands of just a few people/groups.

Bitinfocharts is wrong there, they missed to upgrade in time before then PoS 2.0 hardfork and messed up there BC stats a bit.
Since BC is pure PoS there is no "real" network hashrate, at least none that could be compared to the classic PoW coins.

I was also comparing it to classic PoS coins like peercoin and what bitinfocharts is showing is huge numbers for BC compared to coins like that. So what they're showing is messed up? Been trying to figure out what coins have some solid fundamentals and figure hashrate is a pretty important one.

Peercoin is not pure PoS but a PoW/PoS hybrid. There is absolutely no way to compare the hashrates of PoW coins to PoS since no classic energy wasting a.k.a. mining is used to secure the network.
If you want to understand it better you should look into the PoS 2.0 whitepaper on the blackcoin homepage and read some basics about PoS (sorry for the lack of links, on the phone atm), there are also some threads at the subreddit (my sig) where the basics are explained pretty well.

Since BCs codebases has been used for hundreds of other coins since march and there has been no successful attack whatsoever one would think the fundamentals are very strong, also rat4 (main dev) is working to improve BC more or less every day (see github).