Want to be rich in approximately 1-2 month? Buy and hold at least 150-250 raiblocks. Serious advice thread

I won't be buying in until BTC stabilizes but I'm trying to plan my 2018 portfolio.

All in for me was $1300usd. It's not much and I don't care to lose it.

Proof

Using BitGrail, right?

Are you afraid of BTC stumbling and destroying alts

bitgrail dont use mercatox

Quantum proofing is such a meme that will only come into play in 15 years, but perhaps it will sell.

rai has stayed somewhat stable the past week because there isnt a lot of volume on exchanges thankfully

>tfw holding 850 XRB / 2850 PRL and not gonna pull out until October 2018

Planning on balling out the new year next year.

proof 2

gogo XRB

Yes I am afraid of it destroying alts. The whole market will crap out if BTC dumps. I was in fiat all day yesterday in case of a flash crash, it didn't happen so I bought last night. I don't see a crash being disastrous anymore, it'll recover quickly if it does.

Welcome to the privileged group of raiblock owner.

which exchange do you guys buy raiblocks at I see the 3 listed under market cap but they all look sketchy as fuck

So its a meme because it'll be 15 yrs before quantum computers fuck most crypto in the ass beyond the point of usability? Ok... Literally why would financial sector build on something longterm that isn't quantum proof? It doesn't make sense. It's going to be a total necessity in the future, it doesn't matter if people are shortsighted about it now. You can't have billions/trillions of dollars tied up in a system that can be compromised within a couple decades by new tech, it's just not gonna happen.

>they need to change that pajeet name first

It is a pajeet name.

hindi-english.org/index.php?input=rai&trans=Translate&direction=SE

Use bitgrail, it's alright. Got it in and out of there quickly.

thanks bruv, i've been flip flopping on what to just all in on and leave it. It was between XRP/XLM and XRB. Lost faith in the first 2

>instant
except for the 40 hour wait for the wallet to sync

how long do i have until im too late on this

Quantum proofing algorithms is best left in the hands of cryptographers, adopting their findings.

Trying to devise your own algorithms will lead to disaster.

How much do you have buddy?

Holding this combo too, but 6000 XRB / 18000 PRL, 2018 will be the year of DAG-based cryptocurrencies

I literally withdrew from bitgrail and it was in my wallet ready to use instantly. whats the issue?

I have 8 raiblocks. What will I be able to buy.

pruning is under development.

12700

Bitcoin drama has kept the price down the past couple days. Shitty exchanges have also swayed some people from buying. But people are starting to wake up to this coin. Draw your own conclusions from this. I know I wouldn't wait.

Bitgrail

Devs are working on new website design, mobile wallet and pruning to make the desktop wallet more fast and efficient. They said it should be good by january. We will probably be listed on KuCoin an BitZ, which are bigger exchanges than Bitgrail and Mercatox.

Will there be a dip before than?

who knows man. Seems to be somewhat tied to BTC from what i've seen. I didn't see a point in wiating for a dip since the upside potential is pretty big with this one I think

nice stack, you guys might see rai move in a few hours ill think about it

slowccumulate it cause theres not much liquidity

But with the instability of BTC, I feel like a massive overall correction is due.

I don't doubt it. I've been on the fence whether to wait for that or just buy, and I said fuck it and bought last night. BTC seems to still have a ton of demand around 13k.

can you only buy this w/ btc?

Everyone should all in.

Holy fuck that makes mine look like a pittance. Jesus you lucky bastard

No what you have to do is download the blockchain from the developers. They update it and put it on their Reddit/Discord links daily. I admit it's a fucking pain to deal with but I finally got the wallet to work after downloading the blockchain (it's called data) and replacing it in the apps folder of my computer. There's some YouTube video about how to do it

Xrb didn't give a fuck when bitcoin was crashing hard.

wish i had the balls to do it

No way to know, but its peak was $5.5 and we're at $4.44, so it looks like this is the dip.

Where do you see this in a couple months?

Upcoming exchange listings will make more than up for that. Watch Veeky Forums fomo in when it hits binance or some shit.

ETH on bitgrail and DOGE on mercatox, dollar price is lowest with BTC on Bitgrail though. You can find this stuff out here
coinmarketcap.com/currencies/raiblocks/

I'm dreaming big, but these are the facts

1. Zero fees means that it will have value as an arbitrage medium. There will be demand just from people moving from coin to coin.

2. Sentiment. People are finally seeing how shitty Bitcoin is. This thing is more scalable than Ripple. Perfect replacement

3. Supply Distribution. Most Rai was distributed to third world era solving Captchas. It's very likely that the Distribution is fair (I.e no whales with most of the supply).

4. 28x lower MC than Iota. Iota is like With (a platform). XRB is what BTC was supposed to be.

If this thing is at least as good as Iota, then it's an easy x28 from here.

What do you think about the possibility of DDOS attacks on the Raiblocks network since it costs no money to send transactions?

Honestly, I'm not a tech guy. I just know that the dev worked at Qualcomm and AMD. That's why I bought in

Spam Attacks

(1/3)

From the RaiBlocks Whitepaper:

Transaction Flooding.
A malicious entity could send many unnecessary but valid transactions between accounts under its control in an attempt to saturate the network. With no transaction fees they are able to continue this attack indefinitely. However, the PoW required for each transaction limits the transaction rate the malicious entity could generate without significantly investing in computational resources. Even under such an attack in an attempt to inflate the ledger, nodes that are not full historical nodes are able to prune old transactions from their chain; this clamps the storage usage from this type of attack for almost all users.

////////////

user:

What if a spammer start sending multiple transactions between two wallets back and forth, since it has no fee cost; is he going to be able to make that ‘forever’? Wouldnt that make the blockchain size motherf*cking big?

RaiBlocks Dev:

This is addressed in "Transaction Flooding" under the section "Attack Vectors" of the whitepaper. The PoW required by these transactions is the limiting factor. Once pruning is implemented, this attack would only affect full historical nodes. Even with full historical nodes, storage is cheap. The current blockchain is only about 1.7GB and contains over 4 million transactions.

////////////

Strapped in and ready for takeoff

(2/3)

Github – Possible Attacks to RaiBlocks (github.com/clemahieu/raiblocks/wiki/Attacks)

“RaiBlocks has a number of mechanisms built in to protect from a range of possible attacks on the system. Here we go over all attacks there could be on the system and what safeguards are in place. “
Transaction flooding - Moderate risk, high I/O
Description: Transaction flooding is simply sending as many valid transactions as possible in order to saturate the network. Usually an attacker will send transactions to other accounts they control so it can be continued indefinitely.
Defense: Each block has a small amount of work associated with it, around 5 seconds to generate and 1 microsecond to validate. This work difference causes an attacker to dedicate a large amount to sustain an attack while wasting a small amount of resources by everyone else. Nodes that are not full historical nodes are able to prune old transactions from their chain, this clamps the storage usage from this type of attack for almost all users.

reddit.com/r/CryptoCurrency/comments/7le4r6/cost_of_spamming_the_raiblocks_network/

(3/3)

user:
Cost of spamming the RaiBlocks network

RaiBlocks requires that users complete a short PoW before submitting a transaction. Per the official GitHub, this takes around 5 seconds. The purpose of this is to prevent spam.
The stated capacity of RaiBlocks is 7k TPS. Let's accept this figure for sake of argument. That means a typical CPU can perform 0.2 TPS. At this rate, it would require approximately 35,000 cores to reach the 7k TPS figure and overwhelm the network.
Per ec2insances.info, a c5.18xlarge instance provides 72 cores for a cost of $3.06 per hour. Therefore, approximately 500 instances would be required to reach the 7k TPS figure at a cost of just $1500 per hour.
Based on my math, this seems incredibly cheap to spam the network. $1500 is nothing compared to a market cap now measured well over $500M. This gives me some pause about holding RaiBlocks; seems it's only a matter of time before it faces a DDOS. Did I mistake a mistake in my analysis here? Even if I'm off by 10x, $15k an hour is not much money in crypto.
Colin Lemahieu:
Thanks for taking time to crunch some numbers! We'd definitely like to have a larger security margin on transaction creation for the reasons you wrote. The immediate possibilities are either increasing the difficulty factor or replacing the PoW algorithm with something less parallelizable.
There are some suggestions for more advanced throttling; we need to make sure these will still work while bootstrapping after being offline and also we need to make sure bootstrapping doesn't expose an unthrottled path.
For what it's worth the benchmarks I did for ~5 seconds is on a 6core hyperthreaded 3.5Ghz Xeon.
I think your cost estimates are 5-10x lower than what they would actually be because the assumption is 1core=5sec of PoW though it's more like 6-12cores of a high end processor.
We're looking at it though because 5,000-10,000$/hour to spam isn't enough headroom long term.

Wow, nice. I assume you bought early. I have only 1.7k, at least it's something.

I feel really bad about my 2662 xrb when I see a post like this.

so deluded

Rai is a POS

I bought at 0.24$ though. I think i bought for 7k at the time. I'm pretty happy where this has gone and where it's heading.

I keep getting shilled about this on social media. Its 4th initial offering is coming up. Will I be in lamboland?

XRB is protected from spam by a very small and minimalist PoW attached to each transaction that is just enough to make this sort of attack unfeasible.

The blockchain lattice concept is similar to the tangle. Get bent

I wish I heard before about this, I would have go all in, but I didn't know of it's existence.

I have 65 of these bad boys not much but if I hold long enough im sure they will make me a nice little sum.

Fug I meant to make a new thread haha

Thanks user. Feeling pretty good about this coin. It still looks like there could be potential problems so I'm not going all in... but damn, this could be the one.

Whatever you do dont go on raigames and gamble this shit away.
I had 850xrb now im down to 515 coz of that shitty game.
Now that i think better i didnt mention it, JUST DONT!

Also was trying to sell high buy a bit lower but this thing today aint budging.
Is it strictly tied to btc,if btc goes up it goes down?

It stayed stable in in BTC terms throughout the crash. Unfortunately, I don't see a move higher until BTC stabilizes

This coin will have a sure moon. Even if it doesn't last for a year (and I actually think it will be a top 10 coin in the future), it will moon after being listed on big exchanges and the mobile wallet released on january. You could sell after that, but to me it's a long term hold.

Im just hating myself for gambling it away on that shit site that should be DDOSED 24/7 so im trying to chase my losses and accumulate a bit more. Im sure this will go moon sooner or later ,lots of hype .

comfiest hold, my portfolio is about 75% Rai, this coin has more potential then any other right now.

I recommend people give this article a read hackernoon.com/iota-vs-raiblocks-413679bb4c3e "The average amount of crypto that will be shared among these future 75 billion devices will be on the order of 37 thousand IOTA (or 37 kIOTA) or 1.78 octillion raw RaiBlocks (or 1.78 kXRB). From this, we can see that there will be much more flexibility in the transactional sense for RaiBlocks than for IOTA. This leads me to think that RaiBlocks could very well dominate the IoT space in the coming years, unless IOTA upgrades their protocol to either increase the max supply or allow for divisible IOTAs"

This coin is not only superior as a currency to all other coins, but in terms of competing with IOTA in IoT territory (IOTAs only selling point) we will easily eat its lunch with future developments.

This is the future of crypto, nothing else can touch it and the dev team will keep it that way. Easy top 5 coin by end of Q1 2018 and from there with mass adoption the sky is the limit.

If your going to buy XRB use bitgrail and transfer to the online wallet at RaiWallet.com for a smooth fast experience.

See you on the moon anons

$100?

I can see 100$ but not too soon.

Make that 10k desu. But not in 1-2 months, maybe Q4 2018 or 2019.

What price do you see it at come Q4?

I dont have a crystal ball, but if it gets big exchanges + used for arbitrage+ good mobile wallet + better desktop wallet + solving the little problems it has + fiat gateway, i think at least 50 usd in Q4 is realistic.