Bitcoin Forum

Is it like Bytecoin? What is this bytecoin I am reading about BTE? since 2013?

I am so confused? Which should I buy? I have 25K to spend

Maria5.0

Bytecoin is an alternative to Bitcoin. It focuses on anonymity in making a transaction, which bitcoin does not. Basically Bytecoin attempts to mask the sender's identity, and Bitcoin does not care about the sender's identity. You can read more about it here (https://bitcointalk.org/index.php?topic=512747.0)

I would advise caution though. Bitcoin is the first cryptocurrency, and has come under more technical scrutiny from professionals than any other coin. Bytecoin is based on the cryptonote (https://cryptonote.org) algorithm which itself is based on zero knowledge proofs. Its what I would consider research-level technology. Its new and relatively untested.

That bytecoin you mention sounds exactly the opposite of what I am reading. It says here bytecoin is an "exact" carbon copy of bitcoin. If it is a copy that means that the algorithm should be exactly the same as well. please elaborate and thank you

ha.

Welcome back.

For what it's worth, Bytecoin/CryptoNote is based on ring signatures, not on zero knowledge proofs.

My apologies you are talking about the Bytecoin clone. There are actually two Bytecoins. One was created in 2012 and uses the cryptonote algorithm I mentioned. Its noted as BCN. The other bytecoin is the one you're talking about. It was released in 2013 and is as you put it, a carbon copy of Bitcoin. That one is noted BTE.

I would stay away from BTE. It offers nothing that Bitcoin does not and is not accepted anywhere that I know of. Its not worth investing in IMO. Bitcoin is pretty much the king in cryptocurrency today, although there are some cool innovations in other coins like the first Bytecoin I mentioned   ::)

Its based on both actually. In the Cryptonote algorithm, the creator of a ring signature does so using a zero knowledge proof. I really don't know too much about its implementation because there are a number of ways to actually accomplish this and I'm not familiar with the actual code. But if you read the white paper its mentioned briefly that a ring signature is generated using a zero knowledge proof. The paper seems to leave the actual technique up to whoever implements the algorithm though: https://cryptonote.org/whitepaper.pdf (https://cryptonote.org/whitepaper.pdf)

Nope, nope, nope. Bytecoin is...
Just let me say that I wouldn't touch bytecoin's dirty coverings if they were giving it away free.
Many other members share this point. Spend that 25k on S7s and make yourself some serious profit away from this whole altcoin shadiness and the trading business that you seem to be trying to work with.

"Maria" 5.0?

Bytecoin?

Really??

Jesus. Bugger off.

Someone else gets it.
I think you're being trolled guys. Maria was the creator of the original Bytecoin.

Welcome to Bitcointalk... (We have pasts.)