Gridcoin warning

Message boards : The Lounge : Gridcoin warning
Message board moderation

To post messages, you must log in.

AuthorMessage
kaaz1

Send message
Joined: 25 Jul 15
Posts: 1
Message 63229 - Posted: 25 Jul 2015, 2:04:02 UTC

Gridcoin is now driven by only one buggy developer. It seems not to be truly decentralized cryptocurrency.
Several of buggy releases and several of blockchain snapshots are published by single developer in last few weeks.
Developer is just asking people to remove his coin on Poloniex just because they do not compile his new released code fast enough. (He did not even care about security reviews of his code).
Developer is also trying to move some coin from foundation wallet to his friend.
I do not think Gridcoin is a secure way to share your resource now.
ID: 63229 · Report as offensive
noderaser
Avatar

Send message
Joined: 2 Jan 14
Posts: 276
United States
Message 63234 - Posted: 25 Jul 2015, 17:02:02 UTC

While the concept was intriguing, I knew something was suspicious about this one, and never sunk any resources into it. It just sounded too good to be true, and the little documentation provided didn't really convince me of the concept or its security.
My Detailed BOINC Stats
ID: 63234 · Report as offensive
Profile CM

Send message
Joined: 13 Aug 15
Posts: 63
Message 63609 - Posted: 13 Aug 2015, 23:24:28 UTC - in response to Message 63229.  
Last modified: 13 Aug 2015, 23:27:59 UTC

Gridcoin is now driven by only one buggy developer. It seems not to be truly decentralized cryptocurrency.
Several of buggy releases and several of blockchain snapshots are published by single developer in last few weeks.
Developer is just asking people to remove his coin on Poloniex just because they do not compile his new released code fast enough. (He did not even care about security reviews of his code).
Developer is also trying to move some coin from foundation wallet to his friend.
I do not think Gridcoin is a secure way to share your resource now.


400k invalid GRC was dumped on poloniex by a malicious user because the exchange failed to keep up-to-date with mandatory upgrades to the gridcoin client (other cryptocurrencies have fallen victim to this type of attack in the past - Darkcoin on c-cex to name one off the top of my head).

Foundation coins were used (after the community voted on whether or not to do this - decentralized voting on important issues at hand) to refund the exchange and thusly the cryptocurrency was not removed from poloniex.

New development processes have been implemented to inform exchanges at least a month in advance of mandatory releases now to avoid this scenario from occuring again, and all new development is being thoroughly tested on testnet prior to being pushed to the production network.

Care to provide -any- evidence of your claim that he's sending foundation funds to his friends? Because that sounds like a straight-up lie.

In terms of security, with the newly developed distributed proof of research and ResearchAge systems, it's far more secure and impossible to cheat now.

In terms of Gridcoin being not being a secure method of sharing your resources, that doesn't make sense - it's not an account manager, it rewards users for valid contributions to whitelisted BOINC projects that you choose. The Gridcoin client does not take control of what projects to compute out of the hands of users, that's not a thing.

OP has been going around multiple websites spreading FUD instead of participating in development. If I had to bet, OP's the one sending death threats to the Gridcoin dev.
ID: 63609 · Report as offensive
cryptoman

Send message
Joined: 5 Nov 13
Posts: 4
Message 64960 - Posted: 19 Oct 2015, 21:49:15 UTC - in response to Message 63234.  
Last modified: 19 Oct 2015, 21:49:30 UTC

Well, the free market doesn't seem to agree with you. https://poloniex.com/exchange#btc_grc

And the slimy douche that started this ridiculous thread is a disgruntled member who tried to force his agenda on Gridcoin, but was politely told to go away by the community.

While the concept was intriguing, I knew something was suspicious about this one, and never sunk any resources into it. It just sounded too good to be true, and the little documentation provided didn't really convince me of the concept or its security.
ID: 64960 · Report as offensive

Message boards : The Lounge : Gridcoin warning

Copyright © 2021 University of California. Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1.2 or any later version published by the Free Software Foundation.