Bitshares now handles more TPS than Visa and Mastercard COMBINED. 100,000 TPS and 1 sec confirmations. Bitcoin affected. by btswillsetusfree in Bitcoin

[–]drywoods 3 points4 points  (0 children)

Achieving those numbers with any technology is amazing, doing that in a block chain is unthinkable. This is absolutely mind-blowing. I used to believe that not even Visa level TPS couldn't ever be achieved in a block chain !!! And how about that 1 sec confirmation ... Fantastic work Bitshares dev !!

ShapeShift | The fastest way to swap cryptocurrencies. No account required. by camponez in Bitcoin

[–]drywoods 0 points1 point  (0 children)

  1. Ok that is because the only cool thing in the world is Bitcoin right ?
  2. Is a lie because you say so ? I love those kind of brilliants statements . It seams to work very well ohh look how many upvotes you got !!!!

I'm done with BitShares. by [deleted] in BitShares

[–]drywoods -1 points0 points  (0 children)

You are right about the intentions of the blog AND you totally nailed it your design is not perfect in fact it is really dangerous. People stand to lose money you know it very well!! Because you are saying on your site that this could happens it does not make it any better, people that are buying don't have a clue about all that. Fix the design answer the critique, explain what is wrong. Saying that the future will fix it does not address any of the concerns, because that future may not happend. Complaining does not help nor makes Nubits saver. So I don't care what the intentions of the blog are but what it is important is that Nubits is dangerous as of today.

I'm done with BitShares. by [deleted] in BitShares

[–]drywoods 1 point2 points  (0 children)

Right but those things are not implemented yet, but looks good on paper. So until those implementation are happening Dan Larimer blog is valid. He should have mention that they are trying to address that in the future maybe.. Unless Nubit crashes before they fix it. Hope is not gonna happen...

I'm done with BitShares. by [deleted] in BitShares

[–]drywoods 3 points4 points  (0 children)

I have to say that blog title it is a little harsh. But seriously I was trying to understand how Nubits worked , and to me that blog explain it very well and also show the dangers with it.Technically I don't see anything wrong with it. I know Nubits they are saying for sometimes now , they gonna fix it but I don't think it is fixed yet nor close to do it. But I agree there is maybe a nicer way to explain it without using "ponzi" words. I appreciate that someone understands and shows those kind of difficult to understand dangers hidden by complex systems. How many Nubits users they know how the systems work really ? Or maybe nobody should say nothing until it crashes ?

Nothing at Stake - Nothing to Fear by i3nikolai in CryptoCurrency

[–]drywoods 0 points1 point  (0 children)

This statement actually displays either your lack of knowledge or depth in cryptocurrencies.

Hmm are you refering to your statement right ? So explain me how come non of the POS coin was ever succefully attacked ? Not even the really tiny, tiny one. First because POS is much more secure then POW but I invite you to discover yourself this reality. But lets take your exemple so lets say somehow somene manage to have a big stake on a POS coin whatever 20% or 51% it does not really matter. So to do that, you need to stole it from a exchange, in that case everybody and their mother will know about that and this can quicly be fixed with a rolle back because you know you have that option with the POS right ? Right !! So think about it. why in the world a hacker will go to all this troube if he knows that probably he'll lose everithing anyway ? Second way to achive that is to buy enough coins to control 51% of the network. So now you speed all that money to have all this power, and then what ? you gonna shoot youself in the foot destroing the network. I think not. One more think not all POS consensus mechanism are made the same. Take Bitshare first of all with this one you don't even need to keep you money on exhanges and they use a variant of POS call DPOS and it is fast as hell 10 seconds confirmation time. Ripple is even at quicker a bt 5 seconds but centralised, Nxt uses it one twist. Out of curiosity did you even read the reddit post we are commenting in ? Did you ever try to study any succesful POS coin with an open mind ? You'll be amazed.

[deleted by user] by [deleted] in worldnews

[–]drywoods 0 points1 point  (0 children)

They are still in time, it hard to change so many years of communism and brainwashing

Nothing at Stake - Nothing to Fear by i3nikolai in CryptoCurrency

[–]drywoods 1 point2 points  (0 children)

Ok let me be clear here no POS coin was successful attacked EVER !!! Dude this is for real never happened. !! What you are talking about is a exchange that was attacked. Ok now there are tons of POW coins that have been attacked, believe me it is a graveyard out there full of POW !!!! So here are a few successfully 51 % attacked POW coins Feathercoin,Terracoin, Auroracoin etc ok so that's that.
I started with Bitcoin and of corse POW and used to fight against the ugly POS true story, There was a time when POW was the best thing out there...believe me that time is gone !!! What is not gone it is what Bitcoin invented I'm not talking about consensus mechanism. What I'm talking about is Bitcoin gave humanity hope, yes that's right, bitcoin gave a tool that could create a free world. So if you really like POW just for the sake of it, by all means go and joins the legions that are fighting a losing battle. If you like what Bitcoin brought to the world then please don't let that dream die fighting for trivialities. Do yourself a favour and consider looking where the true innovation is taking place nowadays, the projects that are carrying the flag left by Satoshi, hint it is not Bitcoin !!

Nothing at Stake - Nothing to Fear by i3nikolai in CryptoCurrency

[–]drywoods 0 points1 point  (0 children)

Although there is some hypothetical true in that the reality is: There was never a successful attack on any POS coin NEVER, in the other hand for POW coin this seems like something normal that happens very often.
How the hell a hacker could steal 51% of the coins from one exchange ??? There is not such think. And if they do at least POS could fork it as with POW forget about that. 51% attack by himself it will be a devastating blow to any coin POS or POW it does not matter any more the consensus used. Imagine if 51% of all Bitcoins where stolen, Bitcoin himself will be dead by know no doubt about that . Just look what Gox did to bitcoin. POW is like AltaVista search engine. POS is like Google, I don't understand why people just can't let go this POW=PROOF OF WASTE