Alt-Coin Quantum Resistance Ledger (QRL)

Chaboo
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Chaboo » Sat Jun 24, 2017

That makes sense and music to my ears. Hopefully staking will start making a difference for me. :pop:

Thanks guys.

....if only QRL can go a little lower again... I need a few and it's so close to my buy right now.
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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Sat Jun 24, 2017

A solid and detailed article with the founder of QRL here....

http://cryptopotato.com/qrl-taking-quantum-computers/
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Sat Jun 24, 2017

Believers in QRL have an opportunity to build their position at this hour. I just gulped down down a fair chunk at 39K, or just under $1.00 with Bitcoin being down.

Peter Waterland's whitepaper is a bit dense for us simple types who can't read equations, but I would like to know how staking QRL will work when it happens. I suspect I may have enough now to make it worthwhile, but I'm not sure. It strikes me as something I will want to tuck away for a bit, like PIVX, and might as well put it to work.

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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Sun Jun 25, 2017

Long John wrote:Believers in QRL have an opportunity to build their position at this hour. I just gulped down down a fair chunk at 39K, or just under $1.00 with Bitcoin being down.

Peter Waterland's whitepaper is a bit dense for us simple types who can't read equations, but I would like to know how staking QRL will work when it happens. I suspect I may have enough now to make it worthwhile, but I'm not sure. It strikes me as something I will want to tuck away for a bit, like PIVX, and might as well put it to work.


I spoke with Peter last night (via Slack) about the staking. The algorithm is coming soon but apparently they were in a technical debate within the team over an item or two. It is good to flush out those debates and really weight the pros and cons, so they are testing each respective theory now. He didn't get into exactly what the actual debate was though. He did mention that instead of having a 10% governance budget like PIVX, the team will stake their foundation portion to be used as dev ongoing payments, marketing, etc and that address will be public so we can see if/when they decide to sell a portion and when they do max staking, etc.

So between HYP, Qtum, QRL, TX, and PIVX I will be both feet in on the PoS style coins.
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Tue Jun 27, 2017

Interesting article on the future of encryption vs. decryption.

http://www.afcea.org/content/?q=Article ... ons-future

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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Jun 28, 2017

I just saw this quote on the QRL twitter...

"Waiting for the moment a gun comes out to buy body armor is not a great strategy“

The Proof of Stake algorithm paper will likely be released within the next several days too. Excited to read that and see what my staking odds will be.
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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jun 29, 2017

How far away is quantum computing in reality? Tough to know. But this is interesting:

http://spectrum.ieee.org/tech-talk/comp ... -computing

Maybe sooner than we think?
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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jun 29, 2017

QRL Proof of Stake Paper just released.

No minimum amount to stake.
Block time between 15 - 30 seconds.
Block reward will smoothly decay over time (inflation decreases).
No required "vesting" period in the wallet to begin staking.
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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Fri Jun 30, 2017

If you were looking for a QRL buying opportunity, it just went south of 30k sats.
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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Jul 04, 2017

This link is a MUST READ:

https://news.bitcoin.com/antonopoulos-b ... computing/

Andreas admits two things here:
1) Any bitcoin that has been spent (and therefore has its public address "public") is at risk of quantum hacking - as we already knew. If you only use a single string address once, and spend everything on that address, you are still secure. Which means about 50% of addresses are currently vulnerable.
2) Andreas believes that the NSA already has a quantum computer 10 times better than the one Google already has in its data center (yikes!).

Now where Andreas and I differ, is he believes that the NSA won't use it to try to crack bitcoin, as that would "give away" the secret that they have one. My thinking is that 1) all it takes is one NSA employee to go "rogue" (Snowden) to use that computer to his benefit, 2) would we even know it was the NSA using a quantum computer if some random person or exchange got hacked? 3) The NSA might do it, but just deny it, 4) they might do it as a "show of force" that they have the capability to intimidate other nations with their newfound power, 5) some other explanation I haven't thought of yet.

If any of those scenarios above occur, bitcoin addresses and keys are at risk UNTIL they upgrade with hash based XMSS and winternitz ots+ signatures (that is QRL dev speak, not me talking). And as we already know, bitcoin doesn't upgrade quickly.

Again, I do not see any downsides to having a position in QRL as a hedge against this risk.
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Fabio
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Fabio » Tue Jul 04, 2017

SilverDoge wrote:QRL Proof of Stake Paper just released.

No minimum amount to stake.
Block time between 15 - 30 seconds.
Block reward will smoothly decay over time (inflation decreases).
No required "vesting" period in the wallet to begin staking.


Has the staking started yet? If so, how does one go about doing it? I just did my first staking with ANS, with the kind help of Silversaving, would the process be the same?
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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Jul 04, 2017

And here is a video of Andreas talking about it. The issue really is once the quantum computing is "out of the box" how quickly can Bitcoin upgrade? It has taken us over 2 years to solve this scaling problem and it still isn't solved yet, but we are getting closer. If bitcoin is vulnerable for 2 months, it could be a big problem in regards to QC.

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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Jul 04, 2017

Fabio wrote:
SilverDoge wrote:QRL Proof of Stake Paper just released.

No minimum amount to stake.
Block time between 15 - 30 seconds.
Block reward will smoothly decay over time (inflation decreases).
No required "vesting" period in the wallet to begin staking.


Has the staking started yet? If so, how does one go about doing it? I just did my first staking with ANS, with the kind help of Silversaving, would the process be the same?


I haven't staked with ANS but it will likely be similar. Staking won't start until the Genesis block once the MainNet launches and QRL releases its own wallet software. Likely late September of this year.
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Fabio
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Fabio » Tue Jul 04, 2017

Thanks.

For ANS, I just downloaded a wallet and transferred coins to it and now it just does its thing.
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AuAgJohn
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby AuAgJohn » Wed Jul 05, 2017

Finally, got some QRL. Had a buy order hit last night for 27.9k ($.72). Up to 5 holdings now.
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Wed Jul 05, 2017

AuAgJohn wrote:Finally, got some QRL. Had a buy order hit last night for 27.9k ($.72). Up to 5 holdings now.

Pretty hard to resist at this price. Of course, those who have been holding QRL for the last month would like to see its fortunes take a turn for the better. I made a couple buys below this level in early June, and also a couple more, much higher, as it was on its way up to almost 100k. My most expensive buy was at 60.5k. All in all, if I sold right now I would be down a few dollars. Tempting buy more, but I'd like the market's reaction to the quantum computing future to be more than "meh." Travis will say the time will come, and it probably will.

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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Jul 05, 2017

Long John wrote:
AuAgJohn wrote:Finally, got some QRL. Had a buy order hit last night for 27.9k ($.72). Up to 5 holdings now.

Pretty hard to resist at this price. Of course, those who have been holding QRL for the last month would like to see its fortunes take a turn for the better. I made a couple buys below this level in early June, and also a couple more, much higher, as it was on its way up to almost 100k. My most expensive buy was at 60.5k. All in all, if I sold right now I would be down a few dollars. Tempting buy more, but I'd like the market's reaction to the quantum computing future to be more than "meh." Travis will say the time will come, and it probably will.


All price action prior to MainNet launch is white noise. Investor level 1 was pre-sale. Investor level 2 is pre-launch of MainNet. Investor level 3 is once the QRL has a live chain & wallet. So the goal is to get the most value now during level 2. Buy the dips, if there is a price spike feel free to take some profit off the table if you must, but hold a majority of the position until after MainNet launch (or longer of course!).
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Wed Jul 05, 2017

Oh I've been buying the dips, and they keep getting dippier. The price hasn't lately been such to tempt me to sell. Actually at one point early on I had sold enough to cover my initial outlay. But then, not content to leave well enough alone and because I didn't have a very large stake, I bought more at a higher price, blowing out the advantage of my "free" coins. Today's buy below 26K helps the cost-average a lot.

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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Jul 05, 2017

QRL just hit the 20k sats mark and you now I'm buying at those prices. I've also got some ridiculously low buy orders in for anybody who may fat finger a sale in a panic sell. You never know.
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