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[06:34:52] *** Mode #digitalcoin +o baritus by ChanServ

[06:36:08] <baritus> hey hey

[06:40:01] <CptArgentum> ohh Barry Code!

[06:40:09] <CptArgentum> how be you?

[06:40:14] <CptArgentum> O'hoj!

[06:40:23] -*- CptArgentum pours Barry a pint of rum

[06:40:38] <cosmo> hi baritus

[06:41:33] <baritus> good for the most part :)

[06:42:40] <cosmo> altcoins errywhere

[06:43:11] <cosmo> don't even know how much i want to put in crypto anymore

[06:43:13] <RunningmanZ> baritus:Yo. Thought ya might have been off celebrating too hard again over Lewis' Bahrain victory

[06:43:15] <RunningmanZ> lol

[06:43:33] <RunningmanZ> that was a cracking race

[06:45:24] <baritus> yeah it was a good one

[06:45:29] <baritus> but I've been working :D

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[06:48:11] <baritus> I would like to start testing of new CryptoAve in about 2.5 weeks

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[06:49:00] <cosmo> cool

[06:49:26] <baritus> seems half the competition got hacked or something similar since it's been off

[06:50:01] <cosmo> yeah people are starting to understand the implications of 100% digital money, i think.

[06:50:17] <cosmo> only *after* it gets stolen of course..

[06:50:19] <baritus> I sent them warnings

[06:50:33] <RunningmanZ> Yeah looking forward to seeing CAve back up and running

[06:50:36] <baritus> so they chose to continue running when they were warned hackers are targeting them

[06:50:52] <baritus> and yeah, lost all their coins in the process

[06:50:57] <RunningmanZ> What sort of updates have you been working on for CAve?

[06:51:16] <baritus> first off, I'm rethinking how it functions and making it more like a bank

[06:51:29] <RunningmanZ> interesting

[06:51:30] <baritus> large withdrawals are not possible without human confirmations

[06:51:44] <cosmo> yeah

[06:51:49] <baritus> as the recent OpenSSL shows, you can't even rely on SSL

[06:51:58] <baritus> it was useless

[06:52:31] <baritus> so I've been developing procedures

[06:52:40] <baritus> while working on the code

[06:52:53] <MobChrome> baritus: http://localbitcoins.blogspot.com/2014/04/localbitcoins-updated-servers-against.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Localbitcoinscom+%28LocalBitcoins.com%29

[06:53:19] <RunningmanZ> baritus:Samson mentioned PolarSSL, is that any good?

[06:53:27] <vinje> Take your time Baritus. I'm also back to my pre sell levels :) Couple of thousand shy.

[06:53:52] <vinje> also = almost

[06:53:56] <baritus> I will use a secure SSL of course

[06:54:07] <baritus> but this demonstrates that technology can't be relied on completely

[06:54:19] <baritus> so I will have a full time employee auditing all large transactions

[06:54:28] <baritus> and manually approving them

[06:55:34] <RunningmanZ> What about places like Coinbase etc who do alot of big transactions. Wonder how they are setup

[06:55:41] <RunningmanZ> security wise etc

[06:55:51] <vinje> hopefully more trustworthy than your old employee :D

[06:56:00] <cosmo> yeah you can't crack a human through the internet lol

[06:56:05] <baritus> definitely is :P

[06:56:23] <RunningmanZ> Get Daryl from the Walking Dead after him! :P

[06:56:29] <RunningmanZ> track that bitch down

[06:56:30] <RunningmanZ> lol

[06:56:41] <baritus> RZ, doesn't coinbase have a delay?

[06:57:43] <RunningmanZ> Not sure looking :)

[06:57:44] <RunningmanZ> https://coinbase.com/security

[06:58:00] <baritus> coinbase can store 97% offline

[06:58:08] <baritus> which cryptoave will be able to do later

[06:58:36] <baritus> but I am still going to keep the human interaction and confirmation as feature of CryptoAve

[06:58:42] <baritus> no one else is doing it as far as I know

[06:58:46] <RunningmanZ> yeah offline seems like the way to go

[06:59:01] <baritus> I already store as much as possible offline

[06:59:21] <baritus> but as the site grows, you need more in the hot wallet to cover the transactions

[06:59:47] <baritus> and 3% is probably still enough to empty out most user's accounts if they get hacked

[06:59:52] <RunningmanZ> yeah human interaction will be time consuming you would think but may be vialble until it gets really busy?

[07:00:01] <RunningmanZ> viable*

[07:00:34] <vinje> Baritus the wife never bothered to cash out. Will her coins still be in her account when it comes back?

[07:00:34] <CptArgentum> hey Mob, id you get bfg running?

[07:00:42] <baritus> easy process, I write a small software that considers a few factors and red flags anything suspicious(changed IP, large transaction)

[07:00:47] <RunningmanZ> I thought Coinbase had some of the industries leading security experts working for them

[07:00:53] <baritus> so smaller and safer transactions won't waist time

[07:01:19] <baritus> vinje, nope

[07:01:28] <baritus> I need the withdrawal addresses

[07:01:46] <baritus> the new audit system tracks all accounts from 0

[07:02:04] <baritus> it would make it useless if balances are off from the getgo

[07:02:12] <vinje> Ok. I'll get on her about that tomorrow. She had shares I gave her too.

[07:03:39] <baritus> the shares are fine :)

[07:04:57] <RunningmanZ> baritus:when is dgc 2 core released?

[07:05:16] <RunningmanZ> had some ppl asking on DGC FB

[07:06:46] <vinje> Thanks Baritus. :)

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[07:10:39] <baritus> RZ, I am waiting for some conclusiveness on the time warp attacks

[07:11:22] <MobChrome> baritus: so no time frame set for V2

[07:12:32] <RunningmanZ> baritus:ok np

[07:12:42] <baritus> yeah, it will need more testing to make sure we don't introduce a vulnerability

[07:13:08] <baritus> as KGW has made all coins that use it easily attackable

[07:13:15] <baritus> and my algorithm is a derivitive

[07:14:47] <baritus> the good news is, we didn't switch to KGW :D

[07:15:14] <cosmo> baritus have you looked at myriadcoin? the use of multiple algorithms seems like a step up.

[07:15:42] <baritus> multiple algorithms, vulnerability of every algorithm

[07:17:00] <cosmo> yeah, and it divvies hashpower up multiple ways which isn't good for alts that got shifted to the background

[07:18:26] <cosmo> but use the most popular iterations, at least the tried and true ones.. can't see it biting us in the ass too hard

[07:18:50] <baritus> I'm open to any positive changes

[07:19:01] <baritus> but most often, people want changes that they don't yet understand

[07:19:20] <cosmo> naturally :p

[07:19:33] <baritus> for example, how do you explain myriadcoin to someone not in crypto?

[07:19:39] <baritus> 2 algorithms will not help for sure

[07:19:48] <cosmo> i don't see how that's a problem

[07:20:05] <cosmo> it's still the basic structure, you support the blockchain's encryption and get rewarded

[07:20:18] <baritus> yeah, for those who know the structure, great

[07:20:33] <baritus> and for those who don't? You must explain that structure first

[07:20:38] <cosmo> and those who don't are gonna complain regardless of what you do :\

[07:21:04] <ahmed_> baritus: i disagree

[07:21:06] <cosmo> because they put money into something they didn't understand then sent their coins to a DOGE address.. you can't insure everybody, just those willing to learn on their own

[07:21:15] <ahmed_> i reckon the multiple algorithms help secure the blockchain

[07:21:24] <baritus> how ahmed?

[07:21:28] <ahmed_> even if a flaw is found in 1 algo it can be hard forked to remove it

[07:21:46] <ahmed_> and secondly the scrypt algo forked unintentionally about 2 weeks ago

[07:21:55] <ahmed_> but the network still ran fine due to the other algorithms

[07:22:11] <vinje> wallets are all backed up on a truecrypt drive. I'm ready for the cyclone :)

[07:22:19] <baritus> how about, we just don't fork?

[07:22:25] <baritus> :)

[07:22:41] <ahmed_> baritus: i know im just shms isnt a bad ideaaying that multiple algorit

[07:22:49] <baritus> needing multiple algos to cover the bad implementation of one is a security feature?

[07:23:08] <cosmo> yeah?

[07:23:09] <ahmed_> noo

[07:23:21] <ahmed_> i mean whats to say there is a bad implementation?

[07:23:29] <ahmed_> all 4 algos in use have been tested

[07:23:33] <ahmed_> before

[07:23:42] <baritus> variables have a lot to do with forking

[07:23:47] <ahmed_> and if one does have a flaw it can be forked out at a later time

[07:24:10] <ahmed_> a perfect example is:

[07:24:17] <baritus> I personally don't see any use for it, except to make the code much more complex, and almost impossibly maintainable

[07:24:19] <ahmed_> what if 1 day scrypt becomes vulnerable?

[07:24:29] <ahmed_> what would u do? fork it out right?

[07:24:48] <baritus> it would make the entry level for new devs skyrocket

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[07:24:56] <baritus> good PR stunt, bad dev idea

[07:24:59] <ahmed_> baritus: good

[07:25:06] <ahmed_> in the crypto scene

[07:25:13] <ahmed_> 99% of coin devs are copy pasters

[07:25:39] <baritus> say, the dev disappears, who will maintain it?

[07:25:54] <ahmed_> baritus: anyone could really.

[07:26:05] <cosmo> well if it's popular enough someone will have to to ensure their cash. satoshi isn't behind bitcoin anymore :p

[07:26:14] <ahmed_> cosmo: exactly

[07:26:24] <baritus> and understand all the messed up code that is BTC, in addition to all the whatever for multi algos?

[07:26:26] <cosmo> you're right that it is mostly a PR stunt though because a coin is a coin is a coin is 99% bitcoin anyway.

[07:26:54] <cosmo> it's only an 'issue' because of the hype environment that are plaguing altcoins. if DGC gets the name of a coin reliable for business then we're good, but we absolutely need more hashpower..

[07:27:03] <ahmed_> baritus: yes

[07:27:20] <baritus> cosmo, I have ASIC coming

[07:27:25] <baritus> hashpower won't be a problem

[07:27:55] <cosmo> wow, really? how much mh/s are you packing?

[07:28:03] <baritus> but yeah ahmed, just as many positives as negatives

[07:28:34] <ahmed_> baritus: the negatives arent exactly negatives

[07:28:39] <cosmo> idk, myriad seems like a good concept and reading through the dev's posts, he isn't a fool.

[07:28:44] <ahmed_> its hurdles yes

[07:28:50] <ahmed_> but its solvable

[07:28:58] <baritus> unecessary complexity "in case" an algorithm that can't be broken until the quantum age(all the algos would be broken)

[07:28:59] <ahmed_> hell id take it up just live ive done with smartcoin

[07:29:28] <ahmed_> baritus: exactly but all algos would be broken then.

[07:29:40] <ahmed_> so it has more chance of survival than any coin until then

[07:29:40] <baritus> yeah, so it is a pointless but PR stunt concept

[07:29:51] <baritus> the only thing that will break these algos is what can break all of them

[07:30:05] <baritus> so having all the eggs in one basket, despite being multiple eggs, will still break them

[07:30:14] <ahmed_> i disagree

[07:30:25] <cosmo> having SHA256 added might be beneficial

[07:30:41] <ahmed_> cosmo: sha256 itself would run the network

[07:31:19] <ahmed_> the fact that myriad is protected from asics for either algo is good too

[07:31:33] <ahmed_> as it raises the diff just for that algo

[07:31:36] <ahmed_> not for the full coin

[07:31:53] <baritus> well, if you like the concept, have fun with it :)

[07:32:34] <cosmo> yep, i'm watching myriad to see where it goes. if it can keep the hashpower it has now it could go somewhere.

[07:32:55] <cosmo> this is a ridiculously competitive environment.

[07:32:58] <ahmed_> baritus: I am :)

[07:35:17] <vinje> !dgc

[07:35:18] <DGCBot> DGC Prices (Cryptsy) - BTC: 0.000056226666666667 USD: $0.03. Difficulty: 4.065. Hashrate: 313.72 Mh/s

[07:36:22] <cosmo> also thanks for dropping by baritus :)

[07:36:37] <vinje> gnight guys. Keep up the good work Baritus. Good to see you again :)

[07:36:48] <baritus> good night :D

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[07:37:51] <RunningmanZ> Yeah I'm out too. Gnight all

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[07:42:05] <baritus> I'll bbl :D