In fact Karbo was patched BEFORE the disclosure


I dont want to be distrustful but if Karbo team patched its coin BEFORE the disclosure it could have theoretically been able to exploit this insider knowledge, issnt it? Or did the Karbo team detected the bug, patched the bug with its own coin and reported the bug instantly to the Bytecoin-team?

Or did the Bytecoin-team knew from the bug BEFORE disclosure, told other CryptoNote-protocol based currencies from it and disclosed the bug only later?

What happened exactly and why it did happen this way?

And who is able to fix a bug? Who has the power to change CryptoNote-protocol or was it the CryptoNote algorithm? (protocol = algorithm? I dont know. I am not a programmer)? Was this made by voting system? Who is able to change the code? And why it is so? Not that I as a holder of Karbowanec want to decide in programming decisions because I do not have the required knowlege nor the skills but I as a stupid prospective buyer want to know how everything works more or less respectively is connected with each other. Just to be sure not to own something which could be worthless over night.

As a holder of Karbowanec I just ask myself: "How big or better low is my actual influence and power on the coin?"

Could you say that indeed the blockchain itself which contains the transactions is stored dezentralised and is therefore highly invulnerable and fraud resistent but the properties of the coin itself I am mining, buying, holding and transfering are managed centralized? (by the one or team who is able to change any source code like a bug? if there is no voting system where majority is deciding about major programming decisions)

And thx for the hint for the Karbo-white paper, I will read it. Maybe Karbo-website could link to this essential white paper below "documentation" or so?


I found it (hopefully its the proper paper  ) here: https://cryptonote.org/whitepaper.pdf

Regards

693 Million Bytecoin Tokens Were Artificially Created

https://www.cryptocoinsnews.com/cryptonote-currency-bug-allowed-creation-unlimited-number-coins/

151 billion Bytecoin tokens – 82% of its total – were mined by unknown actors before the public was aware of it, which is an essential aspect of why it hasn’t been a very active currency.

According to Bytecoin’s website, the team behind the cryptocurrency found the vulnerability back in April when erroneous transactions appeared on the network. Nevertheless, over 693 million coins (worth over $1.3 million), totaling 0,37% of Bytecoin’s tokens, were created as a result of the bug.

DigitalNote, another affected currency that has already patched the bug, has also seen a significant price increase recently, as its market cap increased from around $740,000 to over $3 million in a two-month period.

 

Karbowanec was derived from Bytecoin, issnt it?

CryptoNote Currency Bug Allowed Creation of Unlimited Number of Coins

https://www.cryptocoinsnews.com/cryptonote-currency-bug-allowed-creation-unlimited-number-coins/

Recently, the team behind Monero (XMR), the anonymous cryptocurrency that saw its price surge after darknet market AlphaBay started accepting it as a payment method, discovered a bug in CryptoNote-based currencies that allowed double-spending, meaning an infinite amount of coins could be created.

Even though Monero’s blockchain wasn’t affected by the vulnerability, Bytecoin’s was.

Karbowanec´s team patched the bug, too or not? And how many unobserved bugs there are still in the pipeline?

Bitcoin 'Ought to Be Outlawed,' Economist Joseph Stiglitz Says

https://www.coindesk.com/bitcoin-outlawed-economist-joseph-stiglitz-says

Does anyone think that could happen really? I am scared now. 

The former chief economist of the World Bank wants bitcoin banned.

"Bitcoin is successful only because of its potential for circumvention, lack of oversight," Joseph Stigliz, currently a professor at Columbia University, said in an interview on Bloomberg Television today, as the cryptocurrency reached new all-time highs this week.

However, Stiglitz, who also chaired the U.S. President's Council of Economic Advisers during the Clinton Administration, said he does support technological innovation in payments, but thinks digital money should still be fiat created and controlled by the government.

"Let’s move away from paper into the 21st century of a digital economy," he said.

Like many other members of the Davoisie, Stiglitz – who won the  Nobel Memorial Prize in Economic Sciences in 2001 – called the run-up in bitcoin's price unjustified and unsustainable.

"It’s a bubble that’s going to give a lot of people a lot of exciting times as it rides up and then goes down," he said. "The value of a bitcoin today is expectations of what the bitcoin is going to be tomorrow."

And even though bitcoin is a decentralized network, with participants scattered around the globe, Stiglitz seemed to think Washington could easily nip it in the bud.

Here is the full interview:

youtu.be/fy16eIEux7U

"If the government says 'the reason bitcoin is being used is circumvention,' they could close it down at any moment," he said. "And then it collapses."

Ouch  - that should hurt a lot.

I think bitcoin and karbowanec are great instruments for speculation but what if governments do what the Mr. Stiglitz, at least a Nobel Prize winner, is talking about here as Jamie Dimon did it before, too? 

If the same as in China will happen in USA and Ukraine and anywhere? If cryptocurrency exchanges have to close, where I can sell my Karbowanecs then?  Because the Karbowanec itself has no really funtion, issnt it Except to buy some t-shirts and basecaps  But in the worst case of a (trading)ban what I can do with my Karbowanecs?

Any suggestions? Thx.

Dear friends of the Karbowanec,

I have 3 questions.

1. Which size [in MB] has 1 block of the karbowanec blockchain?

2. Is there planned to implement a voting system?

3. Is a voting system the answer to avoid a possible hard fork in future, e.g. if a blocksize increase should be due in future (because of rising transactions per time unit)?

Thank you for answering my questions.

Regards.

drug market? are you serious? and you can NOT decide on the ethics? I think the answer is evident and clear: if you are PROMOTING DRUGS and you are DOING this if you "will not decide on the ethics" then its morally wrong and legally wrong and you are damaging people who are NOT aware about the legal and health risks and heavy consequences for the consumer AND for others.

If you "wount decide" its a clear "YES" and I decline that. With no excuse.

And independently from this the whole process of buying is NOT anonymous. If you claim that you have NOT understood the blockchain nor the nature of a purchase. If the "drug" or product or service will be delived WHERE you can find the anonymity if you adress is on the parcel? i you get the good via TCP/IP or if you meet someone? To use something that gets more and more worthful as a payment method is stupid but if you do it. I dont care. And IF you do it, the chain of anonymity is broken because the devilery chain is "open source".

By the way - the block chain also ist not anonymous - its pseudonymous. Thats a difference. In future is blockchain will be an open book. You can bet on this. So any transaction will be revealed.


And I have put some other coins into the context of Karbo - i think thats legitimate.

This is not solely a Karbowanec promotion board. Issnt it? Its noch a further distribution channel. Its a board of discussion. And if you discuss you have to accept the opinion of other board members like me as well I am accepting your opinion. But this is not a dictatorship board. Right? Or did I missed something?

Its your decision to leave US alone. Why YOU not simply leave the board?


As I mentioned it, the tulip mania was lasting for 15 years. So 8 years rising prices are no argument. And a bubble is defining itself not over the period of time it is developing. So this does not play any role. And I am very sure that new buyers or cryptoenthusiasts have not heard not to mention read about the tulip bubble. Especially for the newbies its a relevant fact. Or did YOU mention the tulip bubble? I dont think so. And if you leave it out, you are fooling the people. And we are not in the DARKNET here where you can sell your drugs to innocent people who are NOT aware of the risks you selling with these drugs. Thats a no go.

If you think to use any currency anonymously then do it. Buts its an illusion. Because I am repeating myself only to get sure you get it. The payment is just a part of the whole transaction. Its just the half way. If you drive to a special destination the half way do you then claim that the whole way was free of any accident or do you wait until you are on your destination to judge if it was free of any accident?


My post did have a relation to Karbo. I told you again: even if there WOULD be an anonymous method of payment. The purpose to pay lies in the aim to fullfill a contract. And a contract consists of 3 components and 2 of them are the payment and the delivery. And if only 1 component out of 3 is safe then the whole transaction is compromised. But keep dreaming on. So this so called "anonymity" is never a feature you can bet on. Ask the Karbowanec-devs how important it is. Read and understand their comments. I did. Its not important and thats appropriate.

And what did YOU say about the Karbowanec? What exactly? I ve just read just an accusation by you and want me to leave. Thats everything but polite and respectful. And consider I am a new board member and I am reflecting here and I think thats no uncommon.

And what qualifies you to speak in the name of all board members?

     


First of all. Nothing is completely anonymous. Maybe the payment itself. But what is the purpose of a payment? Right. To receive a goods or services. And this is the weak point of any transaction. So, if the devilery of the product or service is not anonymous the whole process is not. But seriously who for God´s sake considers any cryptocurrency as a method of payment but rather a method of investing? I do the later one. And if you do so too then the ascpect "anonymity" is not crucial. Its must be limited and therefore unhackable, well known and user friendly. Thats it - if you ask me.

If you are searching for something similiar but better then Bitcoin than try DECRED. It is Bitcoin with a voting system which Bitcoin itself does not own.

And if you are searching for somthing similiar but better than Karbowanec then try MONERO. Its simply the best in point anonymous payment with RingCT (Ring Confidential Transactions) which Karbowanec itself does not own. MONERO is also better than DASH. Dash only has a good user interface but technically its much worse than MONERO.

And if you searching for something that the industry is interested in then try ETHEREUM (made by prodigy Vitalik Buterin). Its the ne plus ultra of cryptoindustry. It is Bitcoin + Sidechains + Smart Contracts is backed by several wellknown companies as JPMorgan (greetings to Jamie Dimon  - he now regrets to have charged Bitcoin with the term "fraud" which of course is not the case but he named some heavy critical aspects in this video: youtu.be/40OuVyVGdIM  ) ... ok - Ethereum is back by JPMorgan, Intel, Microsoft and others).

If you are searching for something that could be practical in usual business then RIPPLE could be the thing. 

Karbowanec itself has nothing unique if you ask me. I would prefer MONERO. But who knows? It has at least a story of a formerly wellknown currency in the Ukraine. It belongs to the better cryptocurrencies of the roughly 900 ones. (I dont want to mention the Tokens which are out of the question, if you ask me). A plus of Karbowanec is its high grade of user friendliness (but this I am awaiting for any big cryptocurrency in the near future) and the developers-team which left a solid and serious mark to me. But thats only my impression. I do not know anybody of the developers team nor how many developers there are alltogether.

Please correct me if I have written anything wrong.

I would buy Ether, Bitcoin, Monero, Decred, Karbowanec and no Ripple (I did not understand the concept). In this order. IF and only IF you want to gamble. Because I like the cryptocurrencies, ok, to be honest I only love the increasing price curve. From my point of view any respectable so called cryptocurrency (its not a currency at all because it fails to own the usual tasks that a currency has to be able to deal with and any cryptocurrency is not able to substituy any currency like JPY, USD, EUR, UAH, RUR etc.) is a substitute good of gold - only because it is scarce. BUT you also could buy gold and I wonder why gold is not rising then? So for this reason I exclude the scarcity of bitcoin as the reason the people are buying it. Maybe the people are only buying it because it it brandnew and has some magic and everybody is talking about.

I would really consider that the cryptocurrency bubble is a remake of the tulip mania in 1637. The most expensive tulip was as much worth as a very expensive house. So - yes - maybe the Bitcoin could rise to 500.000 USD. It could be possible. Many people who have the money but do not know what really a cryptocurrecy like a bitcoin is, could buy more of it or at least fractions of it.

But after the top the bubble will burst - I am quite confident in this outcome.

The tulip mania in 1637 worked this way: In those days you have had the possebility to short the tulips and because its was so obvious that tulips are too expensive - like the bitcoin today - a lot of people were shortselling the tulips. They borrowed a tulip and sold the tulips at the market instantly under the assumption that the price MUST come down so they could cover their position in buying it later to a cheaper price. Then they gave back the tulip to the lender and voilà - they would have had a nice GAIN. They WOULD ! Because the crowd was so insane (like today) that everybody wanted to buy tulips ... so the prices rose higher and higher ... and now the shortseller ALSO against their own real belief had to buy because the risk is unlimited if you do a shortsell. So they had to cover while buying back for higher prices and not for lower ones and kept a nice LOSS. And in this way the whole process became a bubble.

And in this way it could work again. I am quite confident.

If the people get greedy they will buy on credit. Other people will shortsell the bitcoin. And then one thing comes to another. Everything will be rapid. The climax in 1637 remained only 6 month. I am sure this will be the outcome of the bitcoin bubble because the behavious of humans does not change. Its quite predictable. So I recommend to do nothing. Buy a stock or a house or gold instead of risky cryptocurrencies. The many currency exchanges like bitstamp etc. will all die if you ask ME ! Only then.

And maybe several government bans will be the reason for it - like Jamie told us - because, think ! ... If a bitcoin has a value of 500,000 USD then only the bitcoin has a market value of about 60 times of the market value of today which is 140 billion USD. Then bitcoin would be worth 8,400 billion respectively 8.4 trillion USD. Uh uh uh ... that makes me feel sick. Consider ..... a bank with this market cap or EVEN LESS !!!

Lehman brothers failed and was how big? Not even 1 trillion !!! So ... the more worthful bitcoin will get the more it is a threat for the case the bubble is bursting. And believe me. Neither the central bankers nor the governments want to have a next financial crisis. So I assume they will simply ban bitcoin and co in future.

And if this happens then oh oh oh it will get painful. Then the youngsters of you will experience what it means to be afraid of losing your worthful money. Then everybody will sell and the prices will go to almost zero again. Every generation has its own bubble. People do the same mistakes again and again and again. So it works. Its not a fraud but I would assume its will GET a bubble and if it will burst then we will have a serious global financial problem.    

I have had the same thought as Jamie years ago. I would not have thought bitcoin to rise that much. But it was evident to me that the BLOCKCHAIN will change our alls life in many, many ways. The BLOCKCHAIN plays in the league of innovations like railroad, car, radio, phone, internet. It will make a lot of jobs needless. (but will also establish new jobs)

But the blockchain ... not even me have only a clue WHAT deep impact the blockchain will have. But i know it WILL have. The invention of the blockchain remembers me in a high degree to the invention of the commerzialisation of internet of the 1990s. And I consider myself to have a weakness for groundbreaking innovations.

So yes, Blockchain will stay. But you cannot bet on this. The most probable scenario for me is that Ethereum will make it and stay but also this scenario is just a scenario and not not safe.

It also could be the Karbowanec    (I am just joking. Sorry for you, but if you put everyting into equation the Karbo is more or less meaningless). But the future is not written today (at least not from our point of view), so lets follow the developements and maybe the Karbowanec will get bigger. I have no clue.

Regards

Whatever coin it is. Forget it.

2 USD is too high if you can get it for free. Or would you come up with the idea to buy for every breath of fresh air (which has no value in USD) 2 USD? After how many breathes you would be insolvent and therefore dead? Or would you breath rather for free? Exactly. You do not pay for anything that you can get for free. Its so easy.

The whole cryptostory is just a way to transfer units of whatever from A to B. You are paying for a method of transportion of a tangible asset. Wow - I am impressed. Sorry dude, that does not make any sense to me. I dont buy a bottle of coke because I love the bottle but because I love coke. (if I would buy this disgusting sugarwater) 

And I do buy a bottle of beer not because of the bottle but because of the beer.

And if the water or beer comes through a pipeline (directly from the central bank) than YEAH. Great. But ok - some people also buy bottles with water for a lot of money in comparison to the water I can get for almost free from my water pipeline. So yes. The market participants are not acting rationally.

I do not want to forbid trading. I just want to point out, what does the cryptocurrency hodler  really want? Why are they buying? Thats an interesting question in my opinion.

Maybe its a mix of a psychological component, play instinct, greed, wish to be free, wish to have value, wish to do anything, wish to report on next party from the own karbo-investments, running with the herd, doing what everybody else is doing (if someone is yawning you have to yawn, too - automatically). I dont know.

So - if you want - buy more of these Karbos. You are welcome.

But if you think the supply is the reason, then I have a tip for you: just buy the

42-coin

There are only 42 units and 42 units are much less than 10 million units. So - all 42-coins should be the most valuable ones, because they are the most scarciest ones. So rare.

But what is the market capitalisation of the 42 units of the 42-coin?

Look for yourself:

https://coinmarketcap.com/currencies/42-coin/

Actually: 500K USD.

Ouch. 

So the market price is NOT a function of scarcity.

Have a nice cryptoday. I wish you much fun in buying and selling Karbos.

The troll is the one who cannot answer serious meant question is only referring to the hope that the price could rise in future.  Thats so plain.

And whatever cryptocurrency you look at. They are all only assets and no legal tender.

An asset that has no interest nor a dividend. You are buying just ZEROS and ONES.

If you step back for a moment its so evident.

Wheter bitcoin, goldcoin, shitcoin or karbo. You even do not partizipate at any kind of property. Really - its pure HOT AIR.

Its a REMAKE of the TULIP BUBBLE in 1637. Thousands of different tulips are getting massively expensive. Would you pay the price of a brandnew house in the best street in the most expensive city in Ukraine to get a tulip? Almost 400 years ago the humans DID exactly this. Nowadays it would NOT come into your mind.

And the same is true with cryptocurrencies.

The truth is: you are ONLY keen on the money you get for nothing. You are searching a greater fool than yourself. The buyer of nothing hopes to find another buyer to whom he can sell the nothing to a higher price. Look for https://en.wikipedia.org/wiki/Greater_fool_theory.

And thats it. Nothing more. So plain.

And the intrinsic value does not rise because another one is willing to pay for nothing more than the fool before him did.

Its just a matter of GREED and FEAR. Every single speculator who invests in cryptocurrencies has lost his intellect.

Even Jamie Dimon realizes that his own daughter has lost control over her rationality.

See youtu.be/40OuVyVGdIM


Or let me express the cryptocurrency mania in other words: If money is the water you need to live, then bitcoin and karbo and co. are only the bottles, who are transfering the water from one place to another. So at the end you are not buying the water but only the bottle - the packaging. I mean, such a bottle which transports water can has its price but its miles away from the value the water or let it be beer, wine or wodka (I hope you realize what I mean).

Its about the content you really want to buy and not the packaging.

And the content is the USD, the UAH, the RUR, the JPY.

You cannot invent a whole new currency. Thats impossible. You can invest to transfer money respectively legal tender faster and to much lower costs - thats okay. But to invest a new kind of money? Sorry folks. Thats not the case with Karbo, with Bitcoin or whatever the Shitcoin is calling itself.

Look the video. Its an excellent interview. Almost every single sentence of Jamie is ready for press. Jamie is a very clever man. He at least CAN still think in a proper way. With due respect but I doubt that the buyer of the so called cryptocurrencies are still able. The seller - okay But the buyer? I have my doubts.

"Blockchain = good technology." - I agree.
"You can do whatever you want. I don´t care." - Thats right.
"I could care less of Bitcoin trades for, how it trades, why it trades, who trades it. if you ´re stupid enough to buy you ´ll pay the price for it one day." - So it will be.
" I ´ve told people that they can trade 100,000 dollars before they trade it to zero." - I fully agree.
"The only value of bitcoin will be the other guy will pay for." - Right, the "other guy" resp. the buyer pays in USD, UAH, RUR or JPY. And only THESE fiat currencies will be the value.


The next sentence I do not understand clearly ... something with "maybe you buy it too and take them out."
"I mean it by the way." ... What does he means?
"These people are very good in manipulating the press and getting news out every day." Oh ha !!!!!! Sound familiar to me !!!!!!!!!!!!!!!!!!!!!
"CNBC - nonstop bitcoin." - Thats almost standard to speak about bitcoin. .. But let me rethink ... talking about hot air in a financial tv show should be standard?
"Who cares about bitcoin?" - I would say: "Nobody, but everybody cares about the vale of USD which is connected to bitcoin."
"The worlds enonomy is SO big. JPMorgan ALONE is moving 6 trillion DOLLARS every single day ! And bitcoin maybe a billion trades a day?" - Thats no argument I ve to admit.

And now its getting interesting. "The other side is ... governments. And this is not a technological statement. GOVERNMENTS are going to CRUSH it on day." - OH yes. I think it could be like in china. Governments will be fed up with that gambling in hot air. Really. Until today bitcoin was small in market capitalization. But the bigger it gets the bigger the threat that a crash could affect the financial stability. And if the central banks tell the governments that THIS IS ALREADY the CASE then governments will act.
and ban the cryptosector. The whole sector. Every single exchange will then close. And who THEN still HAS this nice ZEROS and ONES in his pockets. These little smart arithmetic units, he wount get NOT anymore for WHICH reason resp. aim resp. value he has bought this unit. Then is GAME OVER. I think to 95% that this be the case in the future. China was the best example. Now the western world is getting made. The bigger the price gains, the more it is a threat. The faster we are getting to this point of BAN.

"The governments like to know WHERE the money is, WHO has it and WHAT you are DOING with it." - so true "And you are okay? with having it to noticed." -  LOL - GREAT. Yes we DID already noticed that government wants to know WHERE the money is, WHO has it and WHAT we are doing with it.

"And governments like to control their currency." - Absolutely true. Anything else would make no sense.
"Governments like to control their own economy." - Right. And also its citizen want to own a government that cares about a stable currency. If government wouldnt do anything the bitcoin would have been invested much more earlier. It is the answer of a crisis. And we will get the next crisis because the people are speculating like hell in bitcoin and co. and not consuming or investing the money as they should do to do the economy a favour. With gambling you just do your brain a favour. And nobody else. It can be entertaining until a certain limit. But when a whole economy would be in danger because of irrational exuberance and I would be the government I would close this threat instantly. China did it already.

"China put already curbs on it."

Then "Japan accepted the bitcoin. No they didnt. They made J-coin. Its a YEN-cryptocurrency. Its not a non fiat. People say: "Hey Jimmy, its close to gold." No Gold is limited. And it (what is referring to? Gold, J-currency or bitcoin?    ) is close to a fiat currency. No. Fiat currency is (Jimmy is explaining us what fiat currency is) when a government says: "This is your legal tender. You have to give it and accept it." I think there is nothing wrong with it. Should people make deal without paying taxes? And who should then pay for ecucation and schools and public buildings like libraries and museums and hospitals and streets and digital infrastructure and fundamental research and development and the people who are working for the government like policemen and justice and parliamentarians and officials and teacher and public authorities who control the citizens food and health and so on? Some parts can be overtaken by private corporations like hospitals and so but not now. So yes, the government wants to have control and thats ok. Except you are a criminal. For criminals bitcoin is a great product. Jamie is telling this,too.

"... and there is a central bank. Of course they can misuse it, the central bank, inflate it. So there is a use case of bitcion. Venezuela. Noth Korea." - Yes, and this is the only advantage that bitcoin and co have, IF it is generally accepted. Its scarce. A store of value, if the official currency is inflating. Of course - a currency that IS inflating has less until some time ZERO value. Inflation is also high in Ukraine? Yes, it is, but it is decreasing. But very volatile.

Inflation data for Ukraine in % (compared to the year before)

2007: 12,84
2008: 25,2
2009: 15,9
2010:  9,37
2011: 7,96
2012: 0,57
2013: -0,26
2014: 12,1
2015: 48,68
2016: 13,91
2017: 11,5 (estimated)

For that reason the Karbo makes sense. Especially if the inflation would rise again.

And Jamie is goes on with: "But this is the last time I am gonna answer queston about bitcoin because I really don´t care." 

And Jamie is finishing with: "I want to point out when I made that stupid statement - I call it (bitcoin) a fraud - my daughter sent me an email saying: "dad, I won 2 bitcoins." ... my formerly smart daughter." LOL   

A great interview. In short: bitcoin and Karbo = an option against inflation and hyperinflation of course. But beyond this its quite worthless. I would tend to gold (but gold price is not rising), IF I would buy a put against inflation. bitcoin and cryptocurrencies seem to be just trendy and a nice thing to gamble with. Thats it. A pure remake of the tulip mania.

You will be lucka to read my comments here. IF you hear to me and stop this dumb trading of nothing. Otherwise you will for it one day. As Jimmy says: "a gambler will trade himself to zero." Please do not spent ur money for speculation of something that has no value, except you mean the equivalent of the Karbo or whatever. Then you can also buy directly USD, RUR, UAH, EUR or JPY or gold, art, oldtimer, stamps or anything else. But an artificial unit? 

Hi folks, how are you?

This post I do not want to bother you with an endless monologue.

Instead of that I have some questions.

Why Karbowanec is popping up? Did I miss anything?

I have to admit I like the roadmap. Other projects do not offer that. Thats a plus. Mobile wallet will be the next plus. I am already so excited. Would be great to leave out the many cryptocurrency exchanges and to send Karbos and receiving at least instantly the equivalent value of RUR, UAH, JPY or whatever. THAT would BE an astonishing feature! But ONLY to exchange artificial created units against the same artificial created units (and only the same - not KRB vs BTC e.g.) with which I could then really pay in a shop. Okay - I am expecting too much I ve to admit. Issnt it? I want something that is working and what I can observe here? The creation of something that makes not much sense to me until the present day. Its only like mining gold. If it WOULD be even gold. But its not. Why the tulip story AGAIN comes into my mind? Why? Because the whole cryptostory is a remake of the tulip bubble? I am afraid that my feelings do destroy my dreams of getting rich with the Karbowanec. Really.

Did the price poped up only because of promotion articles? And trading at the new exchange BTC Trade UA ?

I mean why I do not like the newly printed articles? Because network hashrate is now that high and difficulty therefore too that my reward decreased until almost 0? Maybe thats why? Thank you. I can forget the mining now. Fine. I will save at least the costs of electricity power.

And yes, the question with 500 H/s - 1,000 H/s if you want to mine solo. You can calculate that for yourself. Just use on a pool site like krb.sberex.com the mining profit estimator. if you insert 1 KH/s as hashrate you get 0.86 KRB / day while network hasrate is 8.16 MH/s. And if a block is rewarding you with about 19.85 KRB that should mean that you will find on average (i dont know the standard deviation) all (19.85 divided by 0.86 KRB = 23) days a block on condition that network hasrate keeps constant and you are mining constantly with 1.000 H/s. I would assume to calculate this in this way. So its not recommendable. Pool Mining lowers the risk to get nothing for more than 23 days.

Ok, but after promotion the price for my 1 million KRB will NOT come down like the one from DigitalNote. Issnt it?

See https://coinmarketcap.com/currencies/digitalnote/

Please tell me that this will NOT happen. I have to pay my energy bills.

It will rise more and will make us poor people all rich. Thats the goal of this project or did I understand anything wrong?

I mean - you cannot use the Karbowanec as a method of payment. I could also offer some mussels or cigarettes or some glass beads for shopping in my discounter next to me. They would not accept it, too. And for storage? I would buy gold instead of something expensive as a cryptocurrency. Gold has the advantage that it is already well knows all over the world and it is unique.

I do not understand the real purpose of the Karbowanec (and other cryptocurrencies)? Can anyone explain it to me?

I mean, you can send and receive certain units of whatever ... monero, karbo, bitcoin, shitcoin very fast. Faster than you could send and receive legal tender. But you are just sending and receiving certain units of whatever. And not money. If you are sending or receiving a message with whatsapp very fast thats great. But you did not sent or have received money. If you want to buy something in a store you have to change the KRB first at an exchange. Cryptopia, Livecoin and BTC Trade UA. Great. Then you have to wait until you can finally use your legal tender. So the fast transaction time is not relevant.

I think the "Ripple" makes really much more sense to me. Or not? I can pay instantly with it. And I get the Cash in fiat instantly at low costs.

"Hshare" sounds also interesting is is well, well more developed than with due respect in comparison to Hshare a simple Bitcoin or a Karbo.

Bot currencies are not totallay independend. But they sound quite good. But they are so complicated that I have not fully understood their concepts. I also do not know which consequences a rising ripple price would have for the transaction costs and how to calculate a value of the Ripple for a given environment. And Hshare sounds very complex but also very unifying and challenging.

To pay anonymous is also no argument because the till girl at my super duper store does not accept Karbo.

Is it the scarcity of 10 million units? To use it as a story of value? But why gold is not rising if people demand for that?

A cryptocurrencie has no value if you could not get any fiat money for it.

If UAH, USD, RUR, EUR, JPY would be valued in KRB - you know - THEN the KRB would be the measure of value. But not reverse.

With DigitalNote wallet you can at least send instantly untraceable encrypted messages. Sounds good. Does it makes sense? Or not? I dont know. Maybe its just useless.

Can someone enlighten me? I am actually visiting a course at Coursera. My IQ is quiet low. They tell me. So I need some explanation. If you CAN explain what you are doing Of course only IF you can do so.

But please no insults. Thats not my claim on a discussion. Thank you very much.

Have a nice cryptonight.

Russian Minister: We Will ‘Never’ Consider Bitcoin Legal





url]https://cointelegraph.com/news/russian-minister-we-will-never-consider-bitcoin-legal[/url]


The Karbo is getting pushed actually.

https://logincasino.com/news/ukrainskaya-kriptovalyta-karbowanec-za-god-virosla-v-67-raz19993.html

logincasino.com Thats right. I also feel like in a casino right now and right here with Karbo articles everywhere.


=


This is technically wrong and unprofessional and pure showmanship.

Extrapolation in economic figures into the future is from a statistically point of view simply not allowed.

Obviously, the author wants naive minds to buy Karbowanec.

China is calling ... (they will tell us how to perform a ban)

A loan is not a salary. And to receive cryptocurrencies as a salary is not possible. At least not in my country. Insufficient shops who accept (all) cryptocurrencies. Tax problems. There is no regulatory basis to use cryptocurrencies as a salary. Not feasible. I also can not get any interests on cryptocurrencies. At least not on Karbo and Bitcoin.

And even if you get a salary in the cryptocurrency of your choice, you cannot pick up a loan in cryptocurrencies. This possibility is a core element of our financial system. If a cryptocurrency cannot perform this, it has never a chance to replace the USD. But I admit this aim is too high for any cryptocurrency of today but a currency which claims to be an answer to the financial crisis of 2009 should have this approach. I also would expect then that all prices should be in this cryptocurrency. stable prices. No live calculators or such funny things

A future (5-30 years from today and not tomorrow) will take place with cryptocurrencies but not with the cryptocurrencies which we can observe today.

And of course the Bitcoin-price is a bubble. A very long lasting one. The last 6 month of the tulip bubble in 1637 have only been the climax. It already began in the 1620s.

The tulip mania was fueled by the gold of the new world (Amerika). But imagine how much MORE money is circulating today. We even do not have the Bretton Woods system anymore - it was abandomed. (Do you even know that it ever existed?) There are billions over billions of money circulating. Its not unusual that a bubble today will last maybe longer than 400 years ago because the amount of money is a multiple today than it was in 1637. The information are circulating much faster today. But the process and the shape of a bubble is always the same. Also the warning signals.

There have been expensive tulips (bitcoin) who have been sold in 1637 for 10,000 gulden each. For comparison: the average salary of a year was 150 gulden and the most expensive houses in the most expensive street in Amsterdam did cost 10,000 gulden. There also have been cheap tulips which did only cost 0,07 gulden in 1636 and they rose to 0,15 gulden in 1637. And so on.
You can buy (maybe with Karbos? *uh, bad comment) a book and read for yourself if you are interested in.

The 2009 subprime crisis in USA I dont have to name here. Well known. But also the reasons? Same was true with the Nasdaq bubble in 2000 with all the internet companies. They did not earn a single cent but the buyers paid several millions of USD for it. (By the way today a lot of Nasdaq corporations are bankrupt. If you can read a balance sheet it becomes obvious.) The New Market in the late 1990s in Germany is another example. Many companies have been a fraud and do not exist anymore. Japan Nikkei 1989, keyword: Nick Leeson (options have been new in those days. Nick was the man and got a lot of money from the barings bank and he ruined the whole bank. bankruptcy. ) The Silver market was a bubble between 1975 and 1980. keyword: hunt brothers. they cornered the silvermarket. In the 1960s there has been a bubble in microelectronic stocks in USA. In the 1920s there was a bubble in radio and carstocks. The crash in 1929 and the following depression should be a term for nearly everybody. In the 1870s a bubble in railroadstocks in USA. 1720 - South See bubble. I could count several further bubbles of the history of human kind. And some of it I have experienced even myself.

But you should hear to your gut feeling - if it smells like a bubble - it IS a bubble. The subprime bubble I have not seen coming - the internet bubble in 2000 in contrast - yes.

And like the internet is still relevant in our lifes but not the many internetcompanies - so the blockchain will be relevant for us still in 20 years and more but not the bitcoin. Thats a matter of fact. There are so many use cases that must still developed. Blockchain is a master piece. And the high prices for cryptocurrencies (like the many bubble in history of human mankind) are an indicator that here was invented something very useful. A game changer. But as it is often the case. The first mover is not always the one who will survive.

Do not run after the money. By experience this does not work. You have to wait for the money. Then it will come to you.

Maybe the CME will crash the financial system (again) if it introduces a bitcoin future. There is a heavy risk of infection of other market participants which would reach deeply into the real economy. Read this letter:



The CME should not clear bitcoin futures. Because if uptick or downtickrule could get active while market volume is poor that one counterparty cannot cover his position and then the CME can not clear. (high volatility problem) And if the CME cannot clear this could infect the CME itself and therefore other financial markets until real economy effects. It could harm the whole world economy. By the way that also was my thought as I heard that CME wants to clear bitcoin futures. If this should happen there is a massive risk. I think THAT could be a trigger so the bitcoin bubble would burst with a big bang. The bitcoin market is too small. The demand is too high. The crowd is getting insane. Too much confidence. Really - thats not good.

But anyway. If not this event then it will be another event. It took me a while to understand cryptocurrencies and now after I understandd how they work I am sure. Its just hot air. This bubble will burst soon. Not to mention the stuff with the ICOs and Tokens and that stuff. Totally scam. Really. Pure fraud. Jamie Dimon, CEO of JP Morgan Chase, has a clear view on the things. I am with him.

And one more tip: expect the unexpected. The most danger comes from events from which we still do not know.

I am - for myself - mentally in the red high alert area. Theoretically an e-function goes to infinity. A bubble is developing to a certain point quite similar to an e-funktion, but in real life it does not go to infinity. It will come down. Also if you really really wish that it could last a little bit longer. There are a lot of fools outside but at a certain point of time the last buyer has bought what he always wanted to buy and nobody else is dumb enough to pay more. And then the house of cards will collapse. Especially when market participants are financing their cryptocurrencies by credit it becomes extraordinary dangerous.


There is a saying: pride comes before the fall.

Its in every bubble the same. If people extrapolate historical price movements into the future, especially if the price movement reminds me on an e-funktion - its bubble time.

The future is always not sure. No matter if you made already a lot of money or not. You cannot simply say that within 5 years a BTC will be worth 50K USD. That is misguidance.

Best Regards

Dont get me wrong. I am not even a programmer. So I have the greatest respect for the work of programmers. They are like gods for me. I even cannot write proper English. So come on. I beg you ...

I can of course I can not decrypt your wallet-address. Not with my lack of information and calculation power. But consider the technological progress. Everything is just a matter of information and how to put this information together. If I would have a super computer (keyword: quantum computer), which is able to compute a multiple of what todays super computer can compute and if I know how an encryption works. What should be the problem to decrypt everything? Its just a matter of information. And if I can store every single information that is being transported, I can compute and restore the process. Theoretically I or anybody else should be able to create a whole new world or universe if you know how everything works and if you have all information and the necessary computing power.

But be relaxed. I do not want to decrypt your wallet to steal your karbos. Even if I would find them, I would give it back to you.

I just wanted to point out that a karbo which cannot be sold against RUR, USD or UAH - is simply useless. A Karbo itself or whatever, Bitcoin, Monero etc. have no value itself because nobody would accept these coins as a method of payment if it would NOT be linked to any fiat currency. (you cannot pay taxes with cryptos, you cannot pick up a loan in cryptos and so the whole financial system is acually working, it is breathing. Like a pulmonary. Its expanding and contracting. No cryptocurrency can adapt itself to its economic environment with its several variables)

Only if ONE or a group of cryptocurrencies would represent the whole system of currencies (which also should be taxable and of course not volatile but also independent and anonymous and a basis for loans) a cryptocurrency would make sense for the future. of couse you have to resolve trade offs for implementing this. But technically it should be possible. But not with a system a la "I let a group of computers create a specified amount of units and let them alone with it and call it on top "a currency" ... Really, that cannot be meant serious. And in this way almost all currencies are working. The amount of currency-units must be connected at least with the amount of goods and services of an economy. maybe also with wages and the amounts which are getting saved or invested.

In the future I can image a world with digital currencies - no question. The blockchain ensures the trust between unknown contract partners, no double spending and maybe more - great deal. But a currency has more functions than just to be transferable. And this is the status quo. Some units which you can transfer. In some years the people will laught at the "investors" of today who bought these units while thinking that could be a currency or a store of value. (a currency is backed by the taxing power of its participants - but here?)

At least the Karbo is a good copy of the Bitcoin. More or less. Its destiny is linked with the one of the Bitcoin. I think. And the bitcoin ... its new, but far away from a currency. Maybe its a limited asset. Like post stamps. They are also only printed paper and have nevertheless a market price. (I dont know how to value the finiteness against the background that just the name "bitcoin" or "karbo" is unique because anything else is replicable).

In any case it is cool to have some of it. (But tulips have been also cool in 1637)

But its not usable as a currency from my point of view.

I am also afraid that the government could not forbid the cryptocurrencies itself but the trading of it for banks (like in china?) ... and without a value expressed in UAH, RUR, USD or EUR a crypto-unit has no value. Isst it? Otherwise it would have.

Regards

(sorry for my bad English)

Do not forget to pay your taxes on capital gaines.

The Blockchain is not anonymous, its solely pseudonymous.

Every single transaction is public. And if you only have SOME names of some wallet-adresses, you can decrypt the whole chain.

And everybody has to pay his taxes.

The government does not understand fun if it comes to money.

(I even doubt they will give away their monopol of money - really)

I cannot image the government will watch this gamble for a long time anymore.

China has forbidden the trading with cryptocurrencies, issnt it? There also was a time where the trading of gold in the US was forbidden. (in the 70s?)

I can imagine the same could happen easiely with any cryptocurrency until the people have again a clear mind to realize that they are only trading ZEROS and ONES.

And if a prohibition will come, every exchange has to close its activity. Oh oh oh ... Then all the money has gone. Really - no joke. If I would be the government, I would know what to do at next.

Later the tulips can be traded again - if someone wants. But why I should trade something only because it is rare? I could also buy gold. Its rare too and its unique. Or a picture of Da Vinci. That would be a great investment.

Dont get me wrong. The trading is okay, but everybody has to pay his taxes.

I personally wouldnt buy anything that is listed as a top headline in the news every 2 weeks. Would be too hot. Will not last forever. You can count for that. The bubble will burst. Have seen so many bubbles. They are all the same. The problem is, you do first know IF it was the peak of a bubble AFTER the bubble bursted. BEFORE its not predictable. But if you know it IS a BUBBLE then what this insight is worth then?

Right - nothing. absolutely worthless. So - hands off. The savest way. Nobody will give you back your money. Nobody and really nobody. Absolutely nobody.

But hey - if you pay taxes ... its okay.

But technically I doubt that you can invent a currency as a standalone system. I mean. To handle a currency is a complex thing. Nothing you can program and then it runs for itself. You have to develope it further.

Congratulation for the huge coup and dont forget the exit.
China is calling ...

Any cryptocurrency is worthless. Really. Its a fraud. Its backed with nothing.

Everybody can create this own cryptocurrency:

https://cryptonotestarter.org/inner.html

If Bitcoin, Monero or Karbo or whatever. The more cryptocurrencies exist the more less in value they will have. Same was true with tulips in 1637. In Holland it was just fancy to own a rare tulip - like bitcoin nowadays. But the more tulips there habe been the more it was evident: they do not have any big value. In those days the people sold house and farm to buy a rare tulip. And prices increased as there was still another buyer willing to pay more.

But its such a simple and ovious system. The last majority and laggards will pay the price and lose enormous amounts of money. The issuer and the early adopters (see Rogers adaption cycle) will cash in.

A cryptocurrency seems to be unique but its not unique. Every cryptocurrency is replacable.

Today I have somem tulips in my garden. They do not anymore cost the price of a whole house in the city of the Amsterdam in 1637. It was brandnew to have tulips in those days. Yes. As it is brandnew nowadays to have some Bitcoins or whatever in his wallet. But it makes no sense.

As long as the price rises you will not use it to pay. And if the prics will fall again and they will - then everybody will sell in panic. They wount even have the time and the nerves to look for a t-shirt or a basecap to sell their Karbons or whatever.

Just like the greed drives the people to buy this crap. (and who does not want to get rich with no work? I could understand this)

The FEAR one day will drive the people so sell for any price they can get.

I am getting conform with Jamie Dimon, CEO of JP Morgan Chase: "Bitcoin is a fraud."

And what is true for bitcoin, is true for any other cryptocurrency.

I will now make my own cryptocorrency - its so easy as plating some tulips.

https://cryptonotestarter.org/inner.html

The blockchain is a concept that is absolutely stunning. And yes, you can make a cryptocurrency out of it, but Bitcoin is the Napster of the Millennials or the Netscape Navigator (Browser) of the 90s or or or ... I am waiting for the Google of cryptocurrencies. This currency has not been created yet.

The blockchain is like the globalization that took part in the 17th century with buying tulips, bananas, potatoes and pepper. The Bitcoin ist just a tulip. The Karbo ist just a copy of a copy or low cost tulip. The blockchain is worth a Nobel prize. The applications first have to be invented.

Karbo is a nice gamble. You will realize it when the price will tend to 0 again. As every cryptocurrency will tend to 0 again.

Keep care not to belong to the laggards and late majority.

Enjoy the time while you feel to be rich. This time will never come back again. Later you will cry. I give you my word. A gambler will always stay a gambler until he has nothing to gamble anymore.

I know what I am talking about. I have seen several manias. In the meantime its entertaining just to watch. Its so relaxing. The whole speculation is not worth the high price you are paying for it and I do not mean money with it.

T-shirt with its own design, gray (with the Carbo logo)



Price: 62.00Ҝ

Source: http://www.krb-shop.pp.ua/t-shirt_men_gray_krb

62 KRB = 81.22 USD. Pretty expensive for an ordinary T-shirt, considering the current price in USD.

The merchant has to adjust his price with every change in the exchange rate. This applies to upward price movements as well as for downward price movements.

That's why no cryptocurrency qualifies for a usable currency.

This is the Achilles heel for which no current cryptocurrency has yet found a solution. [The "Tether" (USDT) has implemented a solution, but has caught a disadvantage. As far as I have understand the concept it is tied to the USD 1:1. Now the merchant has NOT to adjust his price of his goods and services BUT exactly this dollar peg is the Achilles heel of the Tether.]

Everybody should have a feeling now what to expect from an ideal cryptocurrency which also deserves its name. This is work for programmers.

All cryptocurrencies are without any solution for this fundamental feature pure speculative objects (because they are not usable, except the usability lies precisely in using it as a speculative object and not in using it to pay) and will presumably end up in the price where it started - at zero. {keyword: "tulip mania" (in 1637)}

This is only my opinion.

In the meantime ... have fun with gambling. [Ouch - that was a cynical comment]