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Comment by dreit1 | Hacker News Reader

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.

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.

I thought for sure the reason would be China's crackdown on crypto.

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.

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.

Right, some proof on the so-called consensus bugs might have made this comment worth reading

Plus if you find consensus bugs you can usually make a killer bounty with any cryptocurrency project

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.

Interesting with the unlocking. Any source/more info on that?

The locked tokens are described in the (then Antshares) ICO rules :

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

Thanks a lot for the info!

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