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Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Viable???
it is great.
vi·a·ble
/ˈvīəbəl/
adjective
adjective: viable
capable of working successfully; feasible.
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
PoSA tx when final public version is released, has some advanced features to allow those "extra paranoid users" 
a way to raise and lower certain key parameters.
For example.
Bob wants to send 1000 Cloak to Alice but is concerned that despite the fact it cannot be traced directly from A to B it can still be "speculatively" followed with blockchain analysis because it is a large amount.
Bob can choose how many nodes he wishes to split his 1000 cloak, could be 10 could be 15, PoSA does a check to see if the balance is available in these nodes before the tx is permitted and can randomly split accordingly. He can also, if desired, select the amount of blocks he wishes to split the tx out. The higher the values he inputs the more spread out the tx becomes.
For everyday smaller amount this type of advance selecting would not be necessary.
However, for a VERY LARGE tx of say 100K Cloak. An ideal scenario would be to input even higher inputs to the parameters allowing it to take a longer time and being split over many more nodes and blocks.
a way to raise and lower certain key parameters.For example.
Bob wants to send 1000 Cloak to Alice but is concerned that despite the fact it cannot be traced directly from A to B it can still be "speculatively" followed with blockchain analysis because it is a large amount.
Bob can choose how many nodes he wishes to split his 1000 cloak, could be 10 could be 15, PoSA does a check to see if the balance is available in these nodes before the tx is permitted and can randomly split accordingly. He can also, if desired, select the amount of blocks he wishes to split the tx out. The higher the values he inputs the more spread out the tx becomes.
For everyday smaller amount this type of advance selecting would not be necessary.
However, for a VERY LARGE tx of say 100K Cloak. An ideal scenario would be to input even higher inputs to the parameters allowing it to take a longer time and being split over many more nodes and blocks.
Thanks for clearing that up. Sounds like a viable option/countermeasure to me.
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
If your 10k can secure a transaction for 99% of the people, that 1% who transfered 100k coins... how are they going to be anonymized?
Someone will have more coins than anyone else. If they were to transfer a greater number of coins than the highest staked amount, how will they be anonymized?
Someone will have more coins than anyone else. If they were to transfer a greater number of coins than the highest staked amount, how will they be anonymized?
then they have to break it down to smaller denominations. nothing wrong with that. an Armoured Bank Truck can only move so much money to the bank, you simply just get more Armoured Bank Trucks if you need to move more money.
I agree, that's one way to circumvent the FLAW in it... but it's still a flaw. That's what i'm getting at.
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
If your 10k can secure a transaction for 99% of the people, that 1% who transfered 100k coins... how are they going to be anonymized?
Someone will have more coins than anyone else. If they were to transfer a greater number of coins than the highest staked amount, how will they be anonymized?
Someone will have more coins than anyone else. If they were to transfer a greater number of coins than the highest staked amount, how will they be anonymized?
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Also, Just because you have a wallet with a ton of coins, doesn't mean you'll only get the big transactions. You can still stake a large quantity on a small transaction. Isn't that the point of weight?
you are correct. But the higher the value of the transaction, the less nodes that can accommodate the PoSA tx. if you want to send 10 CLOAK PoSA, I am sure there will thousands of wallets that can handle that trade. but if you want to send 1k CLOAK, there will be considerably less wallets, which means the 1k wallets will see that action more often and get nice fees from it.
But unlike DRK, everyone can play, as long as you have CLOAK in your wallet and opt-in to be a PoSA node.
If this theory is correct, anyone with a sizeable trade will run the risk of NOT being anonymous. So if i were a bag holder, or a darkweb guy and wanted to hide hundreds of thousands of dollars from the network, i would have to do hundreds of smaller transactions to guarantee anonymity.
I would expect that the devs have taken into consideration the larger transactions and not limiting who can and cannot accomodate those.
or the price of CLOAK goes up and you don't need that many CLOAK to conduct PoSA tx. If my PoSA holds 10k CLOAK and its worth 1 million USD, then I am sure that node can handle 99% of all PoSA tx.
I agree. You'll be able to handle MOST. But, if this is the way the POSA works, it wouldn't be 100% anon. So, i'd have to lean on the side of caution and say this isn't completely accurate. I think the thought process you provided is great, i just think there's more to it. Will have to wait and see what the devs say.
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Also, Just because you have a wallet with a ton of coins, doesn't mean you'll only get the big transactions. You can still stake a large quantity on a small transaction. Isn't that the point of weight?
you are correct. But the higher the value of the transaction, the less nodes that can accommodate the PoSA tx. if you want to send 10 CLOAK PoSA, I am sure there will thousands of wallets that can handle that trade. but if you want to send 1k CLOAK, there will be considerably less wallets, which means the 1k wallets will see that action more often and get nice fees from it.
But unlike DRK, everyone can play, as long as you have CLOAK in your wallet and opt-in to be a PoSA node.
If this theory is correct, anyone with a sizeable trade will run the risk of NOT being anonymous. So if i were a bag holder, or a darkweb guy and wanted to hide hundreds of thousands of dollars from the network, i would have to do hundreds of smaller transactions to guarantee anonymity.
I would expect that the devs have taken into consideration the larger transactions and not limiting who can and cannot accomodate those.
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Also, Just because you have a wallet with a ton of coins, doesn't mean you'll only get the big transactions. You can still stake a large quantity on a small transaction. Isn't that the point of weight?
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Guys correct me if I am wrong but there is a hidden gem here:
PoSA requires that PoSA nodes hold X amount of coins for a PoSA transaction to happen. Lets say Dave wants to send Alice 1000 CLOAK. There needs to be 2 PoSA nodes that have 1000 CLOAK in order for the PoSA transaction to happen. If there isn't, then Dave can't send the Alice the 1000 CLOAK.
why is this important? Well very simple.....FEES!!
If you are running a PoSA node with lets say 1K CLOAK, then your node has a higher chance of conducting 1K CLOAK PoSA trades. Not many nodes will have 1k CLOAK in the future, as price continues to rise. PoSA will still work becuase its not like only 2 nodes will exist with that many CLOAK, but its not like there will be 1 million of them. Heck DRK only has about 800+ Masternodes at the moment.
How does this differ from running a DRK Masternode?
As i understand it, DRK masternodes take 20% of all the PoW mined coins as payment for running a node. More nodes = less DRK for each masternode, since there is a fixed number of coins that get mined everyday.
With PoSA nodes, more PoSA tx volume = more fees. In the future it will be very lucrative to run big CLOAK PoSA nodes so that whales can do big PoSA transactions. Don't forget that the fees are percentage based as well.
Am I making sense here, or do I have it all wrong?
PoSA requires that PoSA nodes hold X amount of coins for a PoSA transaction to happen. Lets say Dave wants to send Alice 1000 CLOAK. There needs to be 2 PoSA nodes that have 1000 CLOAK in order for the PoSA transaction to happen. If there isn't, then Dave can't send the Alice the 1000 CLOAK.
why is this important? Well very simple.....FEES!!
If you are running a PoSA node with lets say 1K CLOAK, then your node has a higher chance of conducting 1K CLOAK PoSA trades. Not many nodes will have 1k CLOAK in the future, as price continues to rise. PoSA will still work becuase its not like only 2 nodes will exist with that many CLOAK, but its not like there will be 1 million of them. Heck DRK only has about 800+ Masternodes at the moment.
How does this differ from running a DRK Masternode?
As i understand it, DRK masternodes take 20% of all the PoW mined coins as payment for running a node. More nodes = less DRK for each masternode, since there is a fixed number of coins that get mined everyday.
With PoSA nodes, more PoSA tx volume = more fees. In the future it will be very lucrative to run big CLOAK PoSA nodes so that whales can do big PoSA transactions. Don't forget that the fees are percentage based as well.
Am I making sense here, or do I have it all wrong?
If this IS true, it will be something very interesting. Anyone else have another take on this? Is it possible to split large transactions into smaller ones?
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Is anyone even voting at https://hitbtc.com/vote cloak has fallen way behind. To be honest, their voting system is a joke.
I haven't been. If they don't add CLOAK, it's whatever. Would be nice to have the USD exchange, but it's not necessary.
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
WOW!
Lots of action in here the past day or two. A coin starts a BIG climb and some hoodrats come knockin!
On a different note, CIARA is supposed to be announced today! How excited are you for that?!
What can it mean... I think Cloak Intermediate Repository Anonymizer
Lots of action in here the past day or two. A coin starts a BIG climb and some hoodrats come knockin!
On a different note, CIARA is supposed to be announced today! How excited are you for that?!
What can it mean... I think Cloak Intermediate Repository Anonymizer
WHERE DID U HEAR IT GETS ANNOUNCED TODAY
https://bitcointalk.org/index.php?topic=637704.msg8128502#msg8128502
I'm sorry i was thinking it was CIARA when in fact it's CloakPal
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
WOW!
Lots of action in here the past day or two. A coin starts a BIG climb and some hoodrats come knockin!
On a different note, CIARA is supposed to be announced today! How excited are you for that?!
What can it mean... I think Cloak Intermediate Repository Anonymizer
Lots of action in here the past day or two. A coin starts a BIG climb and some hoodrats come knockin!
On a different note, CIARA is supposed to be announced today! How excited are you for that?!
What can it mean... I think Cloak Intermediate Repository Anonymizer
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Last time to buy super cheap! hehe
LOL. you better get out quickly!
coming down for a reset now. Edit:
Now i don't mean it's going to crash. I just mean it will be close to 100k again.
You can tell who has only been caught in pnd's around here.
Lol, he seems like a pro.
srs
semi srs
not srs
It's kay.
I never claim to know more than i do. Can't say the same for others here.
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Last time to buy super cheap! hehe
LOL. you better get out quickly!
coming down for a reset now. Edit:
Now i don't mean it's going to crash. I just mean it will be close to 100k again.
Re: [ANN][CNL] ConcealCoin | No Premine | 24 hours POW! LAUNCHED! BITTREX!
Was able to get my second stake!
Code:
Status: 22 confirmations, broadcast through 10 nodes
Date: 7/20/2014 16:52
Source: Generated
Debit: 0.00 CNL
Net amount: -1171.872238 CNL
Transaction ID: 2b07d69ada7684822a15c022b9935699c6f9a4acbec2a31abfcfc69b11bb605c
Date: 7/20/2014 16:52
Source: Generated
Debit: 0.00 CNL
Net amount: -1171.872238 CNL
Transaction ID: 2b07d69ada7684822a15c022b9935699c6f9a4acbec2a31abfcfc69b11bb605c
Re: [ANN][CNL] ConcealCoin | No Premine | 24 hours POW! LAUNCHED! BITTREX!
soon last bagholders sell and this one is over, hard to take a 3btc loss but fuck it 
Ouch!
Sorry to hear about your loss. However, at this point... what's the point of selling it? May as well keep it and HODL for the dev to show face.
Re: [ANN][CNL] ConcealCoin | No Premine | 24 hours POW! LAUNCHED! BITTREX!
Code:
{
"blocks" : 2979,
"currentblocksize" : 4380,
"currentblocktx" : 12,
"difficulty" : {
"proof-of-work" : 1297.81845477,
"proof-of-stake" : 0.00024414,
"search-interval" : 1
},
"blockvalue" : 350000000000,
"netmhashps" : 0.00000000,
"netstakeweight" : 2748.17570550,
"errors" : "",
"pooledtx" : 12,
"stakeweight" : {
"minimum" : 2,
"maximum" : 0,
"combined" : 2
},
"stakeinterest" : 3000000,
"testnet" : false
}
"blocks" : 2979,
"currentblocksize" : 4380,
"currentblocktx" : 12,
"difficulty" : {
"proof-of-work" : 1297.81845477,
"proof-of-stake" : 0.00024414,
"search-interval" : 1
},
"blockvalue" : 350000000000,
"netmhashps" : 0.00000000,
"netstakeweight" : 2748.17570550,
"errors" : "",
"pooledtx" : 12,
"stakeweight" : {
"minimum" : 2,
"maximum" : 0,
"combined" : 2
},
"stakeinterest" : 3000000,
"testnet" : false
}
We've almost hit 100 stake blocks!
I'd say that's a milestone! Here's to looking forward! Cheers!
Re: [ANN][CNL] ConcealCoin | No Premine | 24 hours POW! LAUNCHED! BITTREX!
Can confirm. Just went through that... did not see such msg.
Ummm. what?
I just gave you the timestamp.
LOL you're blind
bittrex-richie
i haven't talked to the dev
bittrex-richie
now or before
HOW IN THE WORLD... HOW CAN THIS HAPPEN.
A coin gets added to an exchange and nobody talks to the dev. Well folks is the wild wild west
I been in IRC all day. That was never mentioned.
Fudding asshole
gtfo it was not. I have the bittrix log open since 10am this am.
was never said.
Please post. Would be informative.
Heres the complete bittrex IRC log since this am: http://www.filedropper.com/webchatfreenodenet-bittrexfreenodewebirc
Richie never said no such thing "30min ago"
That would be because he wasn't saying that in the bittrex IRC. He was in ##Concealcoin IRC
Re: [ANN][CNL] ConcealCoin | No Premine | 24 hours POW! LAUNCHED! BITTREX!
Quote
[20:06] well I asked richie
[20:07] i haven't talked to the dev
[20:07] now or before
[20:07] oh shit
[20:07] richie stawp
[20:07] i haven't talked to the dev
[20:07] now or before
[20:07] oh shit
[20:07] richie stawp
This is the actual chat log from ##Concealcoin IRC
Bittrex has NOT spoken to the dev... ever!
Re: [ANN][CNL] ConcealCoin | No Premine | 24 hours POW! LAUNCHED! BITTREX!
We've only had 1 confirm since PoW ended, Some people stake or this shit is gonna die, Fast.
I am....
Mine aren't mature yet.
Still cookin in the wallet.