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Wondering what everyones thoughts are on NEO its genereated a lot of buzz recently.

by dreit1 9y ago

4j643lj63l4jt 9y ago
Wouldn't touch it with ten foot pole. Pure garbage. Ive found several consensus breaking bugs. Read the source code yourself, its awful. Why dont I report it? I don't care about NEO.
- atomical 9y ago
  I thought for sure the reason would be China's crackdown on crypto.
- nrhk 9y ago
  Not that I don't believe you but I would love a blog post or something details the shortcomings or benefits of these crypto at the source code level. It was fun to see the parity wallet hack happen due to a single commit.
- darkmirage 9y ago
  I agree. You can tell how confident they are in their blockchain technology that the only nodes they allow on the NEO network are operated by the company. Decentralized trust is supposed to be the single selling point of a blockchain. If we give that up, we might as well make a REST API for a SQL database and claim that it's the fastest blockchain in the world.
- afishisafish 9y ago
  First comment by this user. I can't comment on NEO's security, but I'd be wary of people making bold statements without any proof to back it up. Crypto landscape is for a lot of people all about the fud, the push and the pull.
  - teknologist 9y ago
    Right, some proof on the so-called consensus bugs might have made this comment worth reading
  - dreit1 9y ago
    Plus if you find consensus bugs you can usually make a killer bounty with any cryptocurrency project
- AshRolls 9y ago
  NEO award large amounts for bug bounty, I find it hard to believe you would go to the trouble of finding bugs without claiming any reward?
doktrin 9y ago
At the moment it's one step removed from vaporware. None of the features they brag about exist yet, and the codebase is in fact a complete untested / untestable mess primarily maintained by 1 dev. Their white paper is awful even by "crypto" standards. Security issues are inevitable. If you're investing, be wary of the pump cycles - particularly now. October is when the first of the "reserved" shares unlock (50% of the total circulation is earmarked for the founders), so there is significant incentive to fan the hype and artificially drive up the price.
- q-base 9y ago
  Interesting with the unlocking. Any source/more info on that?
  - AshRolls 9y ago
    15 million tokens unlock, to be spent on incentives for devs to build stuff on NEO.
  - doktrin 9y ago
    The locked tokens are described in the (then Antshares) ICO rules : https://www.linkedin.com/pulse/antshares-ico-rules-wentao-yang/ https://www.linkedin.com/pulse/antshares-ico-rules-wentao-ya... The tokens begin to unlock 1 year after 'mainnet' goes live, which happened on 10/17/16 https://neo.org/en-US/Blog/Details/41 https://neo.org/en-US/Blog/Details/41
    - q-base 9y ago
      Thanks a lot for the info!

Wondering what everyones thoughts are on NEO its genereated a lot of buzz recently.

by dreit1 9y ago

Wondering what everyones thoughts are on NEO its genereated a lot of buzz recently.

Wouldn't touch it with ten foot pole. Pure garbage. Ive found several consensus breaking bugs. Read the source code yourself, its awful. Why dont I report it? I don't care about NEO.

atomical 9y ago
I thought for sure the reason would be China's crackdown on crypto.
nrhk 9y ago
Not that I don't believe you but I would love a blog post or something details the shortcomings or benefits of these crypto at the source code level. It was fun to see the parity wallet hack happen due to a single commit.
darkmirage 9y ago
I agree. You can tell how confident they are in their blockchain technology that the only nodes they allow on the NEO network are operated by the company. Decentralized trust is supposed to be the single selling point of a blockchain. If we give that up, we might as well make a REST API for a SQL database and claim that it's the fastest blockchain in the world.
afishisafish 9y ago
First comment by this user. I can't comment on NEO's security, but I'd be wary of people making bold statements without any proof to back it up. Crypto landscape is for a lot of people all about the fud, the push and the pull.
- teknologist 9y ago
  Right, some proof on the so-called consensus bugs might have made this comment worth reading
- dreit1 9y ago
  Plus if you find consensus bugs you can usually make a killer bounty with any cryptocurrency project
AshRolls 9y ago
NEO award large amounts for bug bounty, I find it hard to believe you would go to the trouble of finding bugs without claiming any reward?

doktrin 9y ago

At the moment it's one step removed from vaporware. None of the features they brag about exist yet, and the codebase is in fact a complete untested / untestable mess primarily maintained by 1 dev. Their white paper is awful even by "crypto" standards. Security issues are inevitable. If you're investing, be wary of the pump cycles - particularly now. October is when the first of the "reserved" shares unlock (50% of the total circulation is earmarked for the founders), so there is significant incentive to fan the hype and artificially drive up the price.

q-base 9y ago
Interesting with the unlocking. Any source/more info on that?
- AshRolls 9y ago
  15 million tokens unlock, to be spent on incentives for devs to build stuff on NEO.
- doktrin 9y ago
  The locked tokens are described in the (then Antshares) ICO rules : https://www.linkedin.com/pulse/antshares-ico-rules-wentao-yang/ https://www.linkedin.com/pulse/antshares-ico-rules-wentao-ya... The tokens begin to unlock 1 year after 'mainnet' goes live, which happened on 10/17/16 https://neo.org/en-US/Blog/Details/41 https://neo.org/en-US/Blog/Details/41
  - q-base 9y ago
    Thanks a lot for the info!