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21  Alternate cryptocurrencies / Altcoin Discussion / Official Rebuttal of claims made against my person and the eMunie project on: January 17, 2014, 03:26:31 AM
Now all the chaos from the past few days has calmed down, I thought it would be a good idea to address to the FUD, properly and officially.

I could of course, opt to leave it where it is, the cancellation of the scheduled IPO, and the pending decision on what to do about it seem to have spoken volume enough to those that matter.

However, I did chose to be open about my identity, who I was, and have been called out regarding my integrity.  Now that I've had a chance to reflect and cool off, I've decided to present a rebuttal to the ridiculous claims made against me.

I am of course referring to this thread here - https://bitcointalk.org/index.php?topic=411366.0

Case 1 - Beta IPO
 
Quote
   Daniel claims to have 600 BTC ($500K to $600K USD) and there is a $8K investment limit.  That means they needed 75 to 500 people in the beta test to take part in a beta presale.    If you think people would invest into a 'beta', of all things, then I have a bridge in Somalia for sale.
    Fuserleer could counter and said that BTC was raised a long time ago but still no one would invest $60K or $120K into a 'beta' - it's all bollocks.


All I need to do is post this - https://blockchain.info/address/1EMunieVKAs8PC8mXeBkXnnry79toEKust

The sharp eyed among you will notice a deficit in the current balance and amount received, there are 2 reasons for this.

1)  A few early investors requested that I cash out their Bitcoins to lock in their value early, the total was ~60BTC
2)  As I'm sure you are all aware, a couple of weeks ago BTC took a huge dump below $500 due to the China news.  I decided to move the majority of the BTC at that time to various exchanges, so that in the event that the drop continued, I could sell out a chunk of BTC and protect the investments.  Once BTC had stabilized and recovered, I moved those BTC back to the wallet as I had not cashed out.  The total was ~ 220 BTC at the time.
 
Case 2 - Identity
 
Quote
http://uk.linkedin.com/pub/dan-hughes/7/b11/2a6
http://www.pof.com/viewprofile.aspx?profile_id=41163580


    We know Daniel is a 34 year old male, with no education, no sure status about his real profession (unless being a scammer counts), et cetera.  Take a note at his age on Plenty of Fish and compare it with his Linkedin profile.  Age 34 means Daniel was born in 1980.

    
    Daniel's first listed job at was a "Senior Developer at Senior Creations" (see Linkedin), in 1996 - meaning he was only 16 years old.  Did Daniel drop out of Highschool to become a senior developer?  Damn - he should had dropped out at age twelve, maybe he would had been made CEO.  Daniel learned so much in his first year and a half that he later made "Director of Technology" at another company.


The claim that my linked in and professional history are fake and manufactured are pretty insane.

If you check my linked in profile, you will see a large amount of individuals from the telecoms industry, mainly T-Mobile, Deutsche Telekom, Nokia, and others.  KDB Technology was my company for many years, and we worked with the companies I have just listed, T-Mobile being our main client.  I invite anyone to message any of my contacts to verify my identity and professional relationship with them.

I'm not sure of the relevance of the POF account, I did not realize that being married to the spawn of the devil, which resulted in my becoming single was a crime.

As for my "claims" of being a Senior developer at Software Creations at the at the age of 17, I refer you to this  http://www.mobygames.com/game/windows/fa-premier-league-stars/credits

I worked as an Assistant Lead developer (which is pretty senior) on the Playstation SKU, if you scroll down the page, you'll see my name.  You can get a copy of this game on eBay, Amazon still if you hunt around, my name is there in the credits listed as "Assistant Lead".

I am self educated in many disciplines, including development, business, mathematics/scientific & economic theory.  Most of brightest minds in the world are self-educated, which means they are not institutionalized and thus can think outside of the box.  Having no official qualifications should be praised, not judged, as those persons are typically more self-motivated and likely to succeed.

Case 2.5 - Scamming

Quote
Daniel also had membership on Blackhatworld

http://www.blackhatworld.com/blackhat-seo/members/224492-fuserleer.html

    So we know what Daniel was doing for a living - he was running scams.  Just because he was banned in 2012 does not mean he stopped running his scams, he was likely doing them until March of 2013 (and still could be continuing with them).

    

      There was a post by Fuserleer bragging about scamming $1500 in a single day.

http://www.blackhatworld.com/blackhat-seo/making-money/361170-just-hit-milestone-1000-today.html

    (Fuserleer / Daniel bragging about making $1500)

http://www.blackhatworld.com/blackhat-seo/blackhat-lounge/413499-jr-vip-banned-life-paypal-how.html

Daniel at the time wasn't doing anything for a living, I had sold the IP and assets of KDB and was living a nice, semi-retired lifestyle.  After being so active for so many years, I soon got bored, so I decided to learn some new skills, one that I thought would be useful in the future was internet marketing.

Say what you will about BHW, but it has some of the smartest white hat internet marketers on the planet residing there (its a shame management aren't quite as smart) and I decided to participate there, and other websites, to learn about IM.

If you actually spend some time to check out BHW, you will notice that many many people there post the results of their internet marketing milestones.  My posting about the first day I made $1500 was nothing out of the ordinary, and they generally help to motivate and encourage the people spending many hours learning and honing their IM skills.

Also in that thread there is a quote from me "...even though I'm on BHW its all pretty much white hat techniques and a little grey in for good measure..." Scammers don't use white or grey hat marketing, they use 100% black with a bit of blood colored red in for good measure.

Aside from my internet marketing, I was playing around with an retail online store, I had concentrated solely on telecoms for almost 10 years, and wanted to learn about everything.  Let me tell you, operating that retail site was TOUGH work and very long hours and I wouldn't recommend it to anyone.  Delivery companies couldn't give 2 craps about your customers, or the goods you are sending out, and as result there were a lot of logistical problems, negative reviews, and I soon decided that it wasn't for me.

Paypal however decided it would be a great idea to freeze the account due to 1 rather hard to please customer while it had in excess of £30k in it, and they were going to hold it for 180 days.

Needless to say I was not best pleased, as aside from some of that being profit, a large portion of it was to cover my expenses incurred re-sending out replacement items for those that had been lost.  I decided not to wait to the 180 days for Paypal get around to releasing it and hit them head on.

Adpulse was a venture into CPA and other affiliate marketing methods and it started off extremely well.  I even have an award trophy sitting on my desk for "Best CPA Network 2012" that I am very proud of (and can post a picture of, including the day it arrived in the box).

As we are seeing here though, with good work come foul souls, and it wasn't long before we were seeing a lot of fraud in the network and our advertisers were refusing to pay for those leads.  All affiliate networks that are driven by lead generation take the same stance "If we don't get paid for your fraud leads, then you don't get paid for them either" and that is the stance we took.  Some fraudsters weren't happy, but overall things were moving well.

Then we get to the BHW incident which I have explained in other places already so I will simply re-post my response
 
Quote
Because some guy on there attempted to scam me out of $2k even though he had been paid.  It wasn't even anything to do with BHW, yet he posted a thread.  I kicked up a fuss about it, stating it was nothing to do with BHW, it wasn't for a service or product listed on there as it was personal business and refused to yield to his threats.

    For some reason the BHW mods decided to poke their noses in even though it was nothing to do with them, by this point I was trying to keep my good name yet they sided with him even though I had proof I'd paid him.  The BHW mods are as crooked as the members quite frankly and I wouldn't visit that place again if I was paid to.

    Hopefully that is a sufficient explanation regarding a crooked websites actions.

Case 3 & 4 - eMunie

Anyone that's ever spent any time interacting with the members on the eMunie forum will immediately notice that it is different from many other forums by way of it FEELS like a real community with everyone pushing in the same direction with the same goal.

The reason for that is the way I run my own house there, its fair, everyone gets a say, I don't victimize anyone for any opinion they have, even if it goes against my own, and I listen.  I encourage everyone to follow those same principles, and they do, because they feel part of something.

Some of the guys there have spent months now, working with me on a daily basis, honing and perfecting the eMunie system, and they rightly feel its as much their project as it is mine.

The client is not vaporware, and the delays are due to my own strive for perfection, if its not 100% right, I'm not happy, and if I'm not happy I feel like I have failed myself.  I could of released eMunie many times over, but as we have seen with other projects, releasing too soon can do more damage than good and I'm sure if I was to launch early and someone lost their life savings due to a bug, the pitchforks would be out and rightly so.

eMunie is a complicated piece of software, much more so than BitCoin and it's clones, thus it requires rigorous testing to ensure its stability, and should be THE highest priority of all because ultimately it is ME that will be held accountable for any losses.

In Closing

I'm going to wrap this rebuttal up at this point, I could continue and provide more solid evidence to counter the ridiculous claims made against me but I feel I have provided enough to vindicate any doubt regarding my ability, integrity and morality.

Of course, your opinion is your own and you are entitled to it, and should you choose to believe or not believe the claims or my responses that is up to you.  

Finally, I would ask and appreciate any future personal attacks are kept just that, personal to yourselves.  Critique of the project I welcome, some of it in the past has resulted in me looking at parts of the system and redoing them, usually at the cost of great effort and have provided a better implementation than before, just to be sure.

Yours

Dan Hughes / Fuserleer
22  Alternate cryptocurrencies / Altcoin Discussion / [WARNING] ******* FAKE EMUNIE IPOS ********* - Please read! on: January 16, 2014, 11:30:48 AM

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

People of Crypto,

Following on the cancellation/delay of the official eMunie IPO, it has come to my attention that some scammers have decided to take it upon themselves to pose as me and promote fake ones.

These eMunie IPO's are NOT official, I have made NO decision as yet what action to take regarding the eMunie IPO, so PLEASE DO NOT INVEST IN ANY OF THESE!  You will lose your investment/BitCoins and receive nothing in return.

I have signed this message with my GPG key, and will sign any posts in future regarding eMunie investment, IPO, scams, and anything related with that GPG key also.

I will keep this post updated with information of these scams as and when we find out about them.  If any here could post this on any forums you see fit please do so, I do not want any person to lose money to these low lifes.

Known Scams

BTC Address: 19Y36Yjxtu3cz1xXHZkDFoRctjRCVUNCmL

Quote
It is obvious that EMU has plunged charging with a deception by FUD. I myself regard them as being perfectly ridiculous, i feel no need at all to justify the accusation. therefore, i have to cancelled the Pre-launch public sale temporarily in order to protect the project which i have devoted great deal of enthusiasm to.I recognized this issue deeply through the hard time.ONE of the most essential points is that Unless we plan ahead, our team even EMU are going to be in a mess.


I'm so appreciate for what you and your group have done as you mentioned in the mail. I know that a developing and competitive market in china. however, I never expected that the EMU in CN would be of such great interest to so many people (just like you and your group). Things goes even better than we planed previously.Thus,i decide to give your a discount price for small scale Public sale which is being to 0.07 usd p.p.. the approximate date of the pre-sale is in early Feb. there are some notes:

Im going to give you(your group) a BTC address of your own,pls write down the "username\amount of emunie\email" into the public note after the each sending. Pls do not use the mail box in QQ, and no one is allowed to buy more than 500,000 emunie at once.(MT GOX Avg:$)

the IPO WOULD BE DIRECTED ONLY TOWARD YOUR GROUP AND ONLY FOR ONCE the starting date is on 17th Jan to 25th Jan.(Second days after public sale and send EMU by EMU client)
you have the response to fix the final list up and then send it to me. I will confirm each transaction with yours.

as you know, it is not only a tough decision but i totally made by myself. All the reasons for those are coming from the fullest confidence in yours' faith, so notice that lead it to a downplay way which mean no more disclosing of the information or tend it into publicity.

please shown due respect for me and eMunie.

if you have any further queries, please do not feel hesitate to contact me. eMunie will be a success, and I will not quit until it is!

Bitcoin Address:19Y36Yjxtu3cz1xXHZkDFoRctjRCVUNCmL

kind regards

Dan
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23  Alternate cryptocurrencies / Altcoin Discussion / Constant accusations of scam, eMunie public IPO cancelled. on: January 12, 2014, 12:45:14 PM
Here I am again, 3 days later defending myself against ridiculous scammer accusations backed by fairy dust facts.  When all I really want to do is develop and launch a damn crypto-currency and do it RIGHT.

I'm not even going to spend the time and effort responding AGAIN to the same accusations that I cleared up 3 days previous.

I decided to be public and open about my identity, I knew that would attract some attention and that is fine.  We've all tried things in the past that didn't work out as planned, either because lady luck stepped in and decided not to give out luck charms that day, or some 3rd party screwed it up, and thus those things that we attempted to do failed.  Anyone that claims they have nothing in their past which went wrong and caused some upset for themselves and perhaps others is an outright liar.

What matters is that those people tried, it is better to try and fail, than not try at all.  It is easy to point the finger, making wild accusations, and twisting the facts of any event to meet a destructive agenda because of jealousy, greed or simple competitor fear.

I want to do eMunie right, but it seems that individuals within this "community" (and I use the term loosely) are hell bent on stirring up any possible crumb of information, putting some crazy spin on it so that it meets the terms of a possible accusation.  While I'm dealing with these trolls, that distracts me from the real work of developing, promoting and perfecting eMunie and being able to launch it.

I refuse to be distracted by this crap any longer, I refuse to let these people jeopardize mine and others hard work on this, I refuse to let these people jeopardize my own investment and others that have opted to invest in this venture so far.

The only way I see possible to put the brakes on all the FUD that these individuals continue to sprout like an endless fountain is to cancel the public IPO and no longer accept any further investment from individuals I do not know and 100% trust.

eMunie will now be funded by other means, most likely via raising further personal investment of my own.  I would rather take that road than have to deal with this constant BS.

To all of you that were interested in investing, I apologize for this move, I hope you appreciate the reasons behind why, and that I can not afford any further distraction delaying the launch of the system & client. 

To anyone that HAS already invested, if you are having doubts after all the recent FUD and wild accusations, and would like your investment back, please contact me directly on dan@emunie.com.

Mark my words, eMunie will launch, eMunie will be a success, and I will NOT quit until it is.
24  Alternate cryptocurrencies / Altcoin Discussion / [eMunie] eMunie Tech & General Q&A Thread - Get Involved on: November 11, 2013, 10:44:17 AM
Hi everyone

I've been quiet for some time again, eMunie takes up every waking hour as of late, but I'm very happy to report that now all the major components of the client are complete and "set in stone", I'll be releasing various documentations over the next week that will describe in a lot more detail how this elusive beast works on the inside.

There have been many many questions regarding eMunie on here going back as far as June when I first announced the project, some of which I answered at the time, lots of those explanations have since become obsolete with the various iterations of the client and its changing direction since then.

A primer for those that do not know what eMunie is:

eMunie is a next generation crypto-currency, similar in many ways to popular first generation crypto-currencies such as BitCoin (BTC), LiteCoin (LTC) and others. eMunie adopts the root principles and objectives of these first generation crypto-currencies and expands upon them both in terms of security and useability scope.

Many first generation crypto-currencies are simply copies of BitCoin with minor changes. Typically this means that the open source BitCoin program code as been used as a starting point, with modifications made to it depending on what that particular crypto-currency's goals require.

This is not in any way a bad thing, but it does mean that currencies which adopt this approach, are limited by the same factors as BitCoin, and also inherit some or all of its short-comings.

eMunie does not use any of the BitCoin program code, and functions in a completely different manner, sharing only the primary ideologies and end goals.

eMunie provides a more secure & stable currency by a number of means. All transaction information that is able to identify you is encrypted and secure, your privacy is guaranteed. The only parties able to see any identifying information is the receiver and the sender. All other parties in the system are unable to view this information and will never know that a transaction between A -> B happened.

To ensure that all transactions are honest and that the system balances, a different scheme of verification is used to current implementations to verify that the spender of any currency units is authorized to do so, while at the same time keeping any identifying information regarding the spender (and receiver) a secret.

Even dis-regarding the many other innovative features, this alone allows eMunie to stand above the current state of the art and provide a solution that no other crypto-currency has been able to achieve:

   A true anonymous, secure, decentralized, distributed digital currency.

eMunie is also packed with innovative, ground breaking features such as:

  • Speed - Transactions are processed almost instantly (sub-20 seconds) and are safe to trust.
  • Size - Small data set, clients download only what they need, and most do not need the whole transaction tree.
  • Interest - eMunie uses a TRUE economic supply & demand based currency system where new supply is distributed to current stake holders
  • P2P exchange - The first true P2P exchange allowing not only the exchange of eMu, but ANY currency or commodity registered within the system
  • ENS - A naming system for wallet addresses which allows more human readable terms to be assigned to an address.
  • Postman - Secure e-mail system including attachments.
  • ERC - Secure chat rooms/channels similar to IRC days of old (private rooms supported).
  • EIM - Secure instant messaging between 2 or more parties.
  • Ratings - Self explanatory, you can rate the sender of transactions (these ratings are used for various things in the community)
  • Profiles - Public & private profiles where you may enter some details about yourself (or your business)
  • much much more....

All of the above features will be explained in more detail within the various documentation that I will be making available over the course of the next week or so.

So, without further ado, please feel free to ask any questions you may have regarding eMunie and I will be happy to answer them Smiley

Note:  For reasons unknown to me, trolls seem to like eMunie (perhaps it's the mention of goats in previous threads?  Cheesy) and I will not tolerate any trollish behavior in this thread and will not respond to any bait.  The purpose of this Q&A thread is to answer legitimate questions regarding eMunie and anything else related, not for the stroking of a troll-ish ego.
25  Bitcoin / Development & Technical Discussion / BTC and Visa scale processing...doesn't seem possible on: September 25, 2013, 05:24:15 PM
Hi BTC techies,

Firstly, I rate Bitcoin very highly, it's an amazing first step to a wonderful vision that Satoshi had.  However, there are certain aspects/limitations of the system, that to me, suggest it will never be any more than a small alternative to Fiat.

Some of you may of heard of my project eMunie, which for all intents and purposes is a more advanced direct competitor, and my goal is for it to far surpass Bitcoins reach...so you may call me biased.  That said, I am not here to attack, but to point out and discuss some legitimate issues, these may of been raised before, but I think I can add some further points to the argument.

Specifically I have concerns about BitCoins scalability when it comes down to transaction processing volume.  At present, the entire BTC network has the capacity to clear about 140k-160k transactions per day (assuming a average transaction size of ~1k), not too bad.  That right now is of course sufficient, but what if tomorrow, you could pay with BitCoin in all the small, mom & pop businesses in the US alone....that then causes a serious issue, that sends your processing requirement through the roof.

Note this has nothing to do with hash power at all, but the limits built into the system currently.

The problem

Visa reportedly processes around 300M transactions a day on average, quite a lot! If you break that down into the tx p/s we get around 3500 per second.  Now lets say that BTC manages to acquire just 1% of that volume, that then is 3M transactions per day.  If the block time stays at 10minutes, then at 144 blocks per day each block would have ~28k transactions.  if the average transaction size was still 1kb, then each block would consume ~25MB  Shocked  

Your daily bandwidth requirements, disregarding storage completely, just to keep up would be almost 3GB, and you would need at minimum 50kb (bytes!) per second of constant bandwidth just to have the data alone, without processing.  I'm not even bringing into the equation the transactions that are broadcast around the network before they are even IN a block, all 35 per second of them...(that is another 35kb of bandwidth btw, constantly).

Now a lot of you are thinking, yeah so, 3GB per day is nothing, HD space is cheap, internet connections are faster than that etc etc, but you are missing the point.  If BTC is adopted in the kind of places I mention, then the PC's these Joe public are using are likely old, underpowered boxes, unmaintained and probably not on the fastest of connections.  Furthermore, they are likely not left on all the time so they wont be in sync constantly.

Perhaps Joe decides to load up the BTC client every few days to check his balance, wham, he's got to sit there for hours just waiting for the client to catch up....Joe stops using Bitcoin.

Light clients

These will help BTC short term, perhaps downloading only the essential blocks that are needed to verify and send un-spents, but even then, at block sizes of 28MB, if you need only 1 or 2 transactions in that block, that's a whole lot of downloading for only a few KB of essential data needed.  If local clients don't download block information at all, and just query "chain servers" for the transactions, then sure that is moving away from the decentralized nature of the system somewhat as then you have a much smaller subset of known places where the system can be attacked.

Online wallets

Will work, for a while, until the inevitable happens and a hack occurs.  With banks your money is insured against loss, with BTC this isn't the case, and I highly doubt that any of the online wallet providers could afford to reimburse 1% worth of Visa scale trade should a major breach happen.  Once that happens, Joe public won't want to even know about BTC anymore and it's back to Crypto lovers, speculators and general craziness.

I personally don't see an easy, elegant fix for these potential problems that are ahead for Bitcoin should it become accepted even at these small scale (in the grand scheme of things) numbers as the problems stem from the systems deep rooted design.

These are issues that we have covered from the initial design stages for eMunie and have solutions for, but I fear that for BitCoin the changes needed to be able to handle the above may be too disruptive to implement into the system.  That is a real shame as right now the only real contender to pull off Satoshi's vision IS Bitcoin, but from what I can see, it just doesn't have the legs in it's current design.

Hopefully I won't get pitchforked here and we can have some nice discussions on options and I'll chip in with some of our solutions over here if the trolls stay at bay Smiley
26  Alternate cryptocurrencies / Altcoin Discussion / [EMUNIE] Calling all current Beta Testers & New Recruits on: September 12, 2013, 07:27:55 PM
Hey Folks,

We have a bunch of registered Beta testers from here that haven't been back for a while, perhaps you forgot about us *gasp*, or life got busy for you *double gasp*, so I'm just posting a gentle reminder that we are still here and progressing tremendously if you would like to return and participate in testing.

As we are getting very close to a commercial grade client now, this will be the last call for current and new Beta testers to participate with us and achieve some perks for when the release client is launched.

If you would like to become a Beta tester for eMunie, visit http://forum.emunie.com, sign up and post your request here - http://forum.emunie.com/threads/slots-full-beta-testers.5/  plenty of info on the forums and members (including me of course) to help get you started.

Thanks

27  Alternate cryptocurrencies / Altcoin Discussion / [NEWS] eMunie: Some general news and 100% Anonymity on: August 09, 2013, 09:29:25 PM
It's been a while since I posted here about eMunie but it's news time Smiley

Before that though, there has been a number of threads recently that Ive lurked in, both with support and opposition, which is cool, free world and free speech Smiley  

I decided to keep out of those threads, primarily as I was of course busy working, and secondly, I didn't feel a response to some of the challenges aired in those threads to me warranted a reply just yet.

Some of them still don't, namely the closed source nature of the project for a period of time post launch, and the "pre-mine".  There are reasons for both, reasons that are justified and the decision is made...not by me, but by supporters of the project as a collective vote.  These are subjects I will not comment on in this thread, so I wouldn't waste your or my time posting about them.

One thing that does come up a lot is the lack of whitepaper and specifics, which is a fair point.  However, the way that I like to develop eMunie, and have so with (very large) projects in the past that have all seen great success, is with an agile methodology.  Talk less, code more, that gets things done, talking does nothing more than heat up the air around you.

On a few occasions we have had an implementation almost ready, only for someone, somewhere to have a better idea v's that implementation.  A member of this board in one of the threads (I forget who) called me out on that and challenged it, arguing that it was bad development practice.  I think that in-fact the opposite is true, it would be bad practice to have a better implementation on paper, and continue with the inferior one.

This is the reason behind the lack of whitepaper and concrete specifics, this project has been an evolution, it is my only endeavor at present, and I have sunk a lot of time money and effort into.  I am going to get the best implementation, no matter how long it takes, how much it costs, or who I piss off Smiley  That also means not wasting my time on whitepapers and specifics due to a potential better implementation being discovered that would warrant a re-write of any documentation or communication.

As of this week, a part of the system has been finalized and will not be changing as it is perfect for our needs and meets all the requirements we had in terms of anonymity and security.  Thus I am prepared to disclose some more technical information regarding its operation.

So, with that said, on to the good stuff Smiley

Over the past few days, the final components of eMunie's new transaction protocol have been implemented and initially tested. The results are as expected, the protocol functions perfectly.  This protocol improves drastically on the previous implemented protocol, and indeed over all other crypto-currency models currently available.

This protocol targets 2 key important requirements of any financial system, especially an online, public, distributed system such as eMunie. That is anonymity and security.

At present, existing crypto-currencies employ a pseudo anonymous protocol for transactions, whereas the sender is difficult to determine, but the receiver of the transaction isn't. Should one have knowledge of an individuals "address", it is easy to discover all incoming transactions to that address and the value. With additional work and effort, it is possible to uncover information pertaining to the senders of these transactions.

The public nature of this information could potentially leave the owner of that address open to attacks from scammers, fraudsters and other illegal activities in an event to steal that owners wallet and the funds within, especially if they hold a large balance.

Many people publish their addresses for alternate crypto-currencies on internet forums and websites, and such undesirable individuals may research that address and the funds it may hold, and target the owner of that address.

eMunie now provides a 100% secure and anonymous transaction protocol, which is able to serve all the other components of the system (POS interest, hatching (mining for the un-educated) earning, etc...), and ensure that all transaction information is safe.

The only publicly available information regarding any transaction is the value of said transaction, and the time it was sent, all other information is encrypted and secure. Information such as the sender, receivers, embedded transaction messages, and other information is private between ONLY the sender and receiver of that transaction.

Operation

Transactions are now composed of multiple, separate components, namely:

    Transaction header containing total transaction value (TV), transaction time (T) and transaction signature (TS)
    Transaction outputs containing receiver data (RD), sender data (SD), output value (OV) and transaction secret pt.1 (S1)
    Transaction data packet which contains information regarding the sender, receiver, user message, transaction secret (S2), and transaction signature key (TSK).
    Transaction input containing source unspent transaction (UT), transaction secret (S2)

We have developed a ECDSA/ECIES hybrid that allows both EC algorithms to use the same key pair without compromising security of either algorithm, which are then used to encrypt the transaction data packets, and sign the transaction signature.

Upon sending a transaction, the sender will provide a list of unspent eMu that are able to honor the outgoing transaction. With this list (known as transaction inputs), the corresponding (S2) and (TSK) for those unspent eMu , which are available in the Receiver Transaction Data packets of those transaction inputs, are populated into (S2) of the relevant transaction input.

Transaction Data packets are encrypted with the receivers public ECC key (the sender has the same data encrypted with theirs) embedded in these transactions. Only the receiver and sender can decrypt this information and only the receiver can spend. By ensuring that only the receiver can access and use the (S2) and (TSK), it can be proven that these eMu now belong to them.

Transaction outputs are then created to the new receiver of the eMu being spent, sender data and receiver data are created and encrypted with the sender and receivers public ECC keys.
An (S1) - (S2) pair is created, and stored in the transaction output (S1) and the Transaction Data packets (S2). "Throwaway" key pairs are created, one is used to sign the transaction (TS) and the public key is placed in (TSK) for the receivers.

Upon a hatcher receiving this transaction, it is able to verify the unspent transactions are not modified by checking the transaction signature (TS) against the provided (TSK) and that the spender is allowed to spend by matching the one way mathematical function (S1) to (S2).

Save for a general ECC exploit and breach, or the senders keys being stolen, it can be assumed that the sender is permitted and is indeed the owner of these eMu and that they can be spent, as no other party would have access to the required (TSK) and (S2) values.

Anonymity

From the above, you may have noticed that at no point is the receiver and sender eMu address publicly available. It is stored in the Transaction Data packets, but these are encrypted and can only be decrypted by the sender and receiver of that transaction alone.

ECIES (the encryption algorithm used) is strong and currently unbroken (and will likely be for many many years), so it is at very small odds that a 3rd party could crack, and view this information.

Clients will receive a record of all transactions in the network, and will attempt to decrypt them. If that decryption is a success, then the transaction is for that client, if it fails then it is not and there is no way to see the contents of that transaction other than the publicly available data.

Closing

The above is a short, but concise description of the fundamentals of the system and protocol now in use. Some elements have been omitted, as we may want to pursue patent applications at a future date for these particular elements. However, the omission of them does not in any way dilute the description of the protocol operation above.

As you can see, eMunie is 100% anonymous in the block tree / transactions and is secure.
28  Other / Off-topic / WANKERS? on: June 30, 2013, 06:54:14 PM
I think so
29  Alternate cryptocurrencies / Altcoin Discussion / [eMunie] Latest update, lots of new features and improvements. on: June 29, 2013, 05:34:12 PM
This thread was bumped today (4th Nov 2013) by a BTT member, the information within is out of date.

Up to date information and announcements will be posted on BTT shortly


Hey BitcoinTalkers Smiley

Been a while since I posted the original eMunie thread, and I stated that I would only post here in the future with any major developments.  Well, I have a ton to share, as things have been pretty busy over here.

Due to these changes/improvements/additions the launch date has slipped by quite a lot, it was originally penciled for ~21st June, but even when posting the original thread, there were policies and philosophies in the design that I wasn't sure would stay, or might change.  Which is why I didn't spend the time completing the whitepaper, as I felt that information might become outdated.  Currently there is a tentative launch date set sometime around the end of July.

In this post I'll be addressing some technical elements, new features, the new and improved eMu generation model and how that will work.  Plus some information on features that we are planning/building in to the system.  Some of it I will keep out, as the features are innovative, but could easily be implemented by others, and I'm not a fan of my idea's being stolen before I've executed them.

All of what I post technically will be brief, and more detail will be included in the published whitepaper when methods are finalized.

Transactional Model

Originally the eMunie transaction model shared a lot in common with the Bitcoin design, single chain, in and out transactions cross signed using ECDSA scripts and other similarities.  From day one, this did not "feel" correct, it is limiting, it is susceptible to 51% attacks via forking and while its design is acceptable to a minor currency implementation, moving forward, it does not scale well enough to be considered a "fiat" challenger.

We decided to redesign 70% of our transaction model and refactor our code.

So how does it work now?

Confirming transactions continues to operate in much the same manner, a forward and back search of the block chain is performed, verifying that the current transaction dependencies are legitimate and continuing in a recursive fashion until either the transaction worth is fulfilled by the transactions it depends on (ie you don't need to do a full tree scan), an eMu generation block is encountered, or the genesis.  Coupled with our efficient POW algorithm (although slightly revised which I'll get into later on) this original method is still the basis of our transaction confirmation functionality and processing.

The main changes are in the "block chain" itself, and the way that transactions are recorded and stored.

eMunie now uses multiple chains, think of the ledger as more of a block tree, than a block chain.  There may be many 1000's of small, interconnected chains, all holding valid transactions, and all able to validate transactions across other chain sections.  "Forks", or new chains in eMunie are good, they strengthen the system and make a 51% attack impractical if not nigh on impossible, as there are so many chains, taking them all over is rather difficult.  Transactions are verified in multiple blocks, with many "hatchers" (or miners as is the lingo here) in the system verifying the same transaction over and over and including a reference to that transaction in many blocks, within many chains.

Double spends are also EXTREMELY difficult with eMunie, as the system now favors a rolling balance over a "transaction in/out" method such as Bitcoin.  As soon as you create a transaction, that transaction is distributed to the network as an intention, and it is logged.  All nodes now know about this intended transaction and will include it in any subsequent balance calculation should they need it.

Upon the transaction clearing, that transaction is included in 1 or many blocks, and your rolling balance will calculate to the same as when performed using the transaction intention.

Transaction intentions take huge priority over other system messages, so to perform that double spend would require you to be very targeted in where it is sent to, know all about the current network position (its very dynamic) and sent immediately after the original transaction.  Should you successfully achieve a double spend, soon after your rolling balance when calculated by nodes in the system will enter a negative balance, that peer and wallet address will then be immediately blacklisted forever.

.... NEXT eMu Generation ....
30  Alternate cryptocurrencies / Altcoin Discussion / [BETA TESTERS] All eMunie Beta testers please read (and anyone else too I guess) on: June 11, 2013, 03:34:24 PM
There is simply too many of you to contact one by one to throw this out so I thought a post was probably better Smiley

First off, yes we slipped, new Beta date is 12th (this Friday), the final development we are doing, while not huge, I would rather not rush, so I decided to give us a couple more days to take our time with it and not screw anything up, hopefully that can be appreciated.  Plus, there is no point releasing a Beta client with issues we are already aware of.

Secondly, I know a lot of users on here get annoyed at too much alt-coin noise, and rightly so, as this is a BitCoin forum after all.  Anyone that is participating in the eMunie Beta, please head over to http://forum.emunie.com  I want to keep our activity here to a minimum for courtesy.  The forums are pretty empty right now (of course), so you can all get in your "first" and "second" posts for future bragging rights when eMunie is a success Smiley

Thirdly, I want to get everyone up to speed on what they need to do, how to use the bug tracking software we will be using, and lots of other stuff and here isn't really the place.

From now on eMunie posts here will be as little as possible from us, mainly anything that relevant we will mention in the respective threads, or on major news we may create a thread.  For anything else, it'll be on our forums.

There are other sub-forums too where you can discuss alts, lounge, or off topic stuff as much as you like, so feel free to use that too.

For non-beta testers, we want you to participate too, so even if you aren't pledging testing support, we'd like you to join us in making eMunie a success.  

Upon production launch we will be running a referrals program that is limited to the first 1000 user signup's on our forum, so even if you can't test, get in now and you can receive EMU's via that program.

Thanks again for everyone that has pledged support so far, I know we have slipped a little, but it is for the greater good! Smiley

http://forum.emunie.com
31  Alternate cryptocurrencies / Altcoin Discussion / Some tips if you are making an alt-coin on: June 06, 2013, 08:01:41 PM
Ok, so I've been finding it rather bemusing as of late at all the alt-coin releases (yeah yeah I know I got a thread on it too Tongue), especially when the OP's get defensive and even downright insulting when asked whats different and challenged about their release.

Sooooo some tips:

1) Bring something different, doesn't have to be code, if you can't code, market it professionally, and follow 2

2) Partner with some developers and set up a faucet first/lottery/casino/anything.  Build an infrastructure!  There is plenty of guys on here with little services running for BTC/LTC send them a (polite) message and ask them if they will share/allow your coin to use that service

3) Long lead announcement.  Don't just post a launch thread, build up some discussion and set a time in the future.  Don't be afraid of pushing the dates out if you aren't ready (which I may have to do myself shortly), it shows you are serious and don't want to rush.

4) If someone else has made a coin with similar properties to yours, and didn't receive a standing ovation, don't expect the same, see 1)

5) Read, if even just a little, how the bitcoin algorithms work, so as not to make mistakes of setting the block time to x's and other pitfalls.

6) BE POLITE!  Yes I know sometimes people can be irritating, but screaming, swearing and shouting is going to do nothing for your rep or your coin.  Getting into a fluster shows you can't handle stress or challenge, so who's going to invest in you and your coin when you may not be able to handle issues that are stressful later.

7) Pick a name that's different (yes there's debate on ours but it is different), get a good looking logo, and be consise.

Cool Don't pre-mine crazy amounts.  If you have done REAL work, then the market won't mind if you take a moderate amount for your efforts.  If your coin is a success, seriously, 100k of anything is plenty!

9) Support!!

Just my 2 cents

32  Alternate cryptocurrencies / Altcoin Discussion / [POLL] eMunie initially backed by fiat on: June 03, 2013, 05:57:00 PM
Hi Altcoiners Smiley

Some of you when reading the initial announcement of eMunie may have noticed a mention that we were considering the option of backing a quantity of pre generated EMU's, at least initially, with an amount of fiat currency. This would most likely be USD, in the region of $50k-$100k, but we are as yet undecided.

There are obvious pro's to doing this:

  • Allows an exchange to real currency you can use to be put in place soon after launch
  • Allow other services to come online faster and have a real world benefit
  • Assign the currency some real world value quickly
  • Provide more initial confidence in the currency
  • Ward off, at least initially, any violent fluctuations in price

There are con's too:

  • Initial control of currency value by a central authority (us)
  • Provided stability will slow currency value upward trend
  • Developing a safe umbilical cord to fiat will be challenging
  • Potential of a fractional reserve

Thus we are unable to come to an decision.

As we want eMunie to develop into a thriving community post launch, where everyone has a say, we thought what better way to get a majority concensus, than to ask those that will be using it (we hope), you Smiley

Feel free to express you opinion on the idea, good or bad, as we would like to know everyone's thoughts.

I've self moderated this post so I can keep out the noise.  If you want to discuss eMunie, its approach, or anything that's not related to this thread, please do that here -> https://bitcointalk.org/index.php?topic=220530

Thanks all.
33  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN] eMunie (EMU) - NOT a BitCoin fork/clone - call for beta testers on: May 30, 2013, 08:37:56 PM
OUTDATED INFORMATION DUE TO VERY OLD ANN
New ANN will be posted when relevant nearer to OB/launch

eMunie (EMU) Announcement

Production launch: 21st June 2013
Beta (test) launch: ~14th June 2013 (slipped)

Before moving on I would like to make it clear that eMunie is NOT a fork of the BitCoin code, or any alt-coin that has been derived from the BitCoin release by Satoshi.  



eMunie is a decentralized, cryptographic currency, which is planned for launch in June 2013 and includes a number of innovations which will push crypto-currencies to the next stage.  

It is a secure, energy efficient system, which is self regulating and discourages "hoarding" as a whole, the aim of which to enable a more stable, reliable currency and value store.

We have a "closed beta" launch date on our test network due around the 7th of June, and I would like to call upon any interested party that would like to assist us, to get in touch with me.  I'll provide more details on this later in the post.

So whats different

eMunie has similarities to current crypto-currencies by way of a public ledger, blocks and transactions.  These however, are where the similarities end and innovation for a better system comes into action.

The network is composed of clients, seeders and hatchers, the functions of which will be explained in this announcement.  Any node can take task in one, or any combination of these roles dependent on the users wishes.

The network is resiliant to any type of "51%" attack, as the models required to perform such an attack are not present.

Currency generation within the network is a collaborative effort, and created currency is distributed according to a set of requirements.  This distribution should help to ward against hoarding, which can further lead to volatility of the currency.

The network performs extensive verification of itself, more so than the BitCoin algorithms, to ensure that all participants are honest nodes and for additional security overall.

A secure, anonymous peer 2 peer messaging system is built into the network, allowing secure, untraceable communications between 2 or more parties.

How it works

Transactions are similar in nature to BitCoin, each transaction has inputs and outputs which are signed.  Once a transaction is created, a "hatching" node is discovered, a verification request is sent, and if accepted, the transaction is forwarded to that node for verification.  At this point the hatching node, which has an entire, complete copy of all network transactions, performs verification of the submitted transaction (more about this later).  Once verified, the hatching node includes the transaction in the next block created, signs the block and hands that block to an additional hatching node.  This secondary hatching node performs the same verification with the newly created block, and if verified, signs it also, and broadcasts the new block into the network.  

Hatching nodes have a copy of all transactions and all public keys involved in these transactions.  Upon receiving a new transaction, the hatcher performs a full verification of the entire transaction chain backwards to the genesis block, and forward from the genesis block, simulating all the historic transactions and ensuring that 2 true, identical paths are always found.

Hatchers" can assign minimum fee's for this service to generate additional income, and any transaction verification request that does not fulfill the minimum set fee is ignored. Of course, transactions can be processed for free as this has additional benefits as explained below.

The delay time for a transaction to be included within a new, verified block should be nominal.

Currency generation is a collaborative effort between n-client nodes and a hatching node.  Each node in the system will cast a vote to a random hatching node to whether to create a currency unit (EMU).  Creation volume of currency over time is confined to a specified target interval to maintain a steady flow of new EMU's.  As the hatching nodes have the information available of all newly created EMU's, they are able to select the correct vote threshold for the generation of new EMU's.  If the collective vote is a success a number of EMU units are created and are distributed around the system in the following manner:

  • As all hatching nodes have a complete transaction history, they are able to determine the hatching nodes that have done the most work in the system, 80% of the generated units are distributed to all hatching nodes in the system proportional to the amount of work they have done verifying transactions.
  • The remaining 20% of generated units are distributed around the system to all clients, the percentage of which will be proportional to the amount of EMU units within that account, this is similar to interest.

Generated units are signed collectively by the nodes that voted for its creation, and also by the hatching nodes that co-verified it.  These signatures can then be checked by successive hatching nodes upon receiving the new block to ensure that the EMU unit generation is legitimate.

Benefits

Some benefits of eMunie may be obvious, other may not, so allow me to provide a simple breakdown.

  • High security
  • Fast transaction times
  • Energy efficient
  • "Fairer" system, all participants receive reward for work & adoption
  • Difficult to crash value through hoarding then dumping
  • More stability (we hope)
  • Secure messaging[/il]
Other thoughts

Currently we are exploring the option of backing eMunie with USD, current proposals are a pre-allocation of 100k EMU units, backed by an as yet undecided amount of USD currency in the region of $50k-100k+   To complement this, we will either produce an exchange where individuals can trade EMU's for USD quickly and easily, or via a partnership with a current exchange.  If any current exchanges would like to discuss this possibility, please do feel free to get in touch with me.

Finally

We are looking for interested parties that would be willing to help us with our closed beta.  This is to enable us to do full stress testing of the system on a test network to ensure that any major lurking issues are caught and resolved before our production launch of 21st June.  Any person that participates will be awarded an allocation of EMU's upon launch, and will be privy to a mention of their choosing (real or pseudonym) on our website when launched and within the default client.

Of course this small post does not answer all questions, nor give all details on the eMunie system.  We are drafting our final paper on our algorithms and implementation currently and this will be released in the near future.

Thanks for reading, hopefully I've covered enough points to provide a complete idea how eMunie will work and I look forward to feedback and questions.

EDIT:  So we took everyone's advice and suggestions, had a sit down brainstorm and decided upon a new name, eMunie.  Surprisingly all domains were available also, so we're now on a buying spree Smiley

EDIT 2:  Added beta sign up page on http://emunie.com   Currently nothing there other than a coming soon page and a way to register your interest, sorry folks.

EDIT 3:  eMunie forums are up, any beta testers or other interested parties please discuss eMunie there.  It's obviously blank at the moment, so get a bunch of "firsts" posts in for bragging rights when eMunie is a success Smiley
34  Alternate cryptocurrencies / Altcoin Discussion / [DEV] AltCoin with a real difference...opinions please on: May 22, 2013, 08:44:40 AM
Hi everyone,

I've been lurking around on here for a while, with nothing really significant to add until now.

As the title suggests I would like opinions on a BTC alternative we have been working on for a while that we feel addresses some of the "issues" regarding the BTC/altCoin weaknesses.

A little background, I own a small R&D company that develops systems and solutions across a number of technology sectors, which I wont get into right now.  Around 12 months ago, BitCoin appeared on our radar, one of my developers was interested in BTC and had played around with it quite extensively solo and approached me with some suggestions about how it may be improved. 

I decided to divert some funding and developer time to this en-devour and we brainstormed specifics that we felt would improve on the original, which is by any standards genius, yet as all things that are first out the gate, improvements are generally possible. We've been churning away quite happily since then, from practically a clean slate, with the original BTC code used only for some reference and understanding of how the BTC system works.

My concern, is that recently there has been a horde of altCoins popping up, almost double figures this month alone, and I am wondering whether continuing to devote time and funds to this project, which could be used elsewhere, is viable.  Of course there are commercial agenda's to consider, and while we would be releasing our "coin" as an open source, decentralized alternative, the (hopefully) resulting attention to my humble R&D house would justify the initial outlay of investment of development.

With that in mind, I decided to dip my toe into the community and see if there was a general standing of support for our alternative considering the differences and "improvements" that it can offer or if the community as a whole feels that BTC and the already available altCoins are enough already.

So what can our system do that's different and considered a "pro", I will highlight below but I will not be delving into technical details at this time:

1)  Loss of wallet doesn't constitute loss of "coins".  Our currency is able to reproduce your wallet, securely, from the public ledger.  You do not need to store a key anywhere, either digitally, or physically, yet it is impossible for anyone else to claim ownership of your wallet.

2)  Mining is obsolete, this is one area of the BTC algorithm that hit a nerve with us, the energy expended, performing billions of useless calculations is unnecessary.  Additionally we feel that mining can be/is exploited and results in the volatility of the BTC exchange values and will ultimately result in BTC being a commodity and NOT a currency. Finally, no "mining" results in no possibilities of a 51% attack, our currency, as far as we are aware, is immune to 51% attacks.

3)  Transaction confirmation is fast, near instant, and are given a "trust" rating depending on who and how many clearing nodes have confirmed the transaction.  Transaction confirmation can utilize both CPU and GPU BTC rig hardware, however, the hardware requirements of confirming a transaction are MUCH lower but are as secure as BTC methods.

4)  Coin generation is unlimited but constant, "fair", driven by trade volumes, and distributed BY the system.  No entity in the system can ever possess a controlling stake of the currency unless they have acquired it via a transaction.  Hoarding of a large amount of currency is only possible if it is purchased, hoarding of generated coins does not pose a risk to the value of the currency as a whole.

5)  The system as a whole encourages trade, trading in the currency results in all participants of the network obtaining some form of reward by the system at some point in time.

They are the main USP's of our alternative, I'd be happy to go into further details if required, and would love to hear others thoughts and whether they feel that us continuing the development of this is a worthwhile considering all the altCoins being created at present.

Thanks in advance
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