[ANN] TRESTOR - The Most Efficient Money, Payment And Market System In The World

[fordlincoln]

Interesting article in Cointelegraph.
I am looking forward to understanding more about the consensus in Trestor

"By October 1, Trestor Network will primarily be powered by academic institutions, running full Trestor nodes across the globe. Our consensus is not PoW [proof of work] or PoS [proof of stake], or Ripple/Stellar. Our process takes the best of proof of stake and the Ripple/Stellar-type voting-based mathematical guarantees, and merges the two ideas to create a new network consensus system. We call this “asymmetric proof of stake” (aPoS)."

Kudos to the team for opensourcing the code on Github https://github.com/Trestor/trestor-crypto-ObjectiveC

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[canth]

Our Retail Partners allow you to buy and sell Trests in locations all over the world.

Please provide one example of a retail partner that advertises their prices on their website, transparently.

With Trests there are no transaction fees, all the coins you mentioned do have transaction fees. Transactions take an average of 10 seconds to confirm, which is also a +.
Furthermore, with Trestor there is no mining required to protect the network which is a big waste of energy, and possibly unsustainable.

There are no transaction fees because there is no security in ensuring that the digital ledger stays the same. What would you do if law enforcement told you to reverse a transaction since 'terrorists' owned trests and were using them?

When you skip that big waste of energy you refer to, there are tradeoffs. I'll pass thanks.

I think you are misunderstanding how trestor works exactly. Since anyone can run a node, a transaction cant simply be reversed without the majority of the network agreeing on it

OK, but there's no incentive to run a node unless perhaps you are a business that buys and sells Trests. Since any such business depends upon Trestor (owner of ~all Trests currently) then it's in their best interest to support anything Trestor does. If Trestor is served with an order to reverse or suppress a transaction, they'll have no choice but to obey.

[jwinterm]

Our Retail Partners allow you to buy and sell Trests in locations all over the world.

Please provide one example of a retail partner that advertises their prices on their website, transparently.

With Trests there are no transaction fees, all the coins you mentioned do have transaction fees. Transactions take an average of 10 seconds to confirm, which is also a +.
Furthermore, with Trestor there is no mining required to protect the network which is a big waste of energy, and possibly unsustainable.

There are no transaction fees because there is no security in ensuring that the digital ledger stays the same. What would you do if law enforcement told you to reverse a transaction since 'terrorists' owned trests and were using them?

When you skip that big waste of energy you refer to, there are tradeoffs. I'll pass thanks.

I think you are misunderstanding how trestor works exactly. Since anyone can run a node, a transaction cant simply be reversed without the majority of the network agreeing on it

OK, but there's no incentive to run a node unless perhaps you are a business that buys and sells Trests. Since any such business depends upon Trestor (owner of ~all Trests currently) then it's in their best interest to support anything Trestor does. If Trestor is served with an order to reverse or suppress a transaction, they'll have no choice but to obey.

Andre says, "OBEY"

[mmm01]

On the thread "Critical problems with Trestor" the foundation states "Justification for Pre-Assigning is strong but complex, therefore it will be detailed in our whitepaper."

https://bitcointalk.org/index.php?topic=1057794.msg11720185#msg11720185

Your whitepaper seems to describe the technical aspects of your coin (securing the network), but not why this coin is 100% pre-assigned. If I missed the explanation I apologize and could you please point me to it or state the reason for it here?

[fordlincoln]

Our Retail Partners allow you to buy and sell Trests in locations all over the world.

Please provide one example of a retail partner that advertises their prices on their website, transparently.

With Trests there are no transaction fees, all the coins you mentioned do have transaction fees. Transactions take an average of 10 seconds to confirm, which is also a +.
Furthermore, with Trestor there is no mining required to protect the network which is a big waste of energy, and possibly unsustainable.

There are no transaction fees because there is no security in ensuring that the digital ledger stays the same. What would you do if law enforcement told you to reverse a transaction since 'terrorists' owned trests and were using them?

When you skip that big waste of energy you refer to, there are tradeoffs. I'll pass thanks.

I think you are misunderstanding how trestor works exactly. Since anyone can run a node, a transaction cant simply be reversed without the majority of the network agreeing on it

OK, but there's no incentive to run a node unless perhaps you are a business that buys and sells Trests. Since any such business depends upon Trestor (owner of ~all Trests currently) then it's in their best interest to support anything Trestor does. If Trestor is served with an order to reverse or suppress a transaction, they'll have no choice but to obey.

I didn't see the reversibility of transactions in the Trestor whitepaper, they're using a Proof of Stake blockchain which like any blockchain creates a permanent record of transactions.

If Trestor was 'served with an order to reverse or suppress a transaction' then this is no different than Ripple - which currently owns all the nodes.

There is no monetary incentive to set up a node, but according to the TNet documentation it would seem that a university would be interested in setting up a node so they can be a relay point to pass messages to other nodes.

[starsoccer9]

Our Retail Partners allow you to buy and sell Trests in locations all over the world.

Please provide one example of a retail partner that advertises their prices on their website, transparently.

With Trests there are no transaction fees, all the coins you mentioned do have transaction fees. Transactions take an average of 10 seconds to confirm, which is also a +.
Furthermore, with Trestor there is no mining required to protect the network which is a big waste of energy, and possibly unsustainable.

There are no transaction fees because there is no security in ensuring that the digital ledger stays the same. What would you do if law enforcement told you to reverse a transaction since 'terrorists' owned trests and were using them?

When you skip that big waste of energy you refer to, there are tradeoffs. I'll pass thanks.

I think you are misunderstanding how trestor works exactly. Since anyone can run a node, a transaction cant simply be reversed without the majority of the network agreeing on it

OK, but there's no incentive to run a node unless perhaps you are a business that buys and sells Trests. Since any such business depends upon Trestor (owner of ~all Trests currently) then it's in their best interest to support anything Trestor does. If Trestor is served with an order to reverse or suppress a transaction, they'll have no choice but to obey.

I didn't see the reversibility of transactions in the Trestor whitepaper, they're using a Proof of Stake blockchain which like any blockchain creates a permanent record of transactions.

If Trestor was 'served with an order to reverse or suppress a transaction' then this is no different than Ripple - which currently owns all the nodes.

There is no monetary incentive to set up a node, but according to the TNet documentation it would seem that a university would be interested in setting up a node so they can be a relay point to pass messages to other nodes.

Yes, I would say atleast Trestor is currently better than Ripple where now you need to fill out AML and KYC and they can just reverse transactions. Its basically paypal at this point

[canth]

Our Retail Partners allow you to buy and sell Trests in locations all over the world.

Please provide one example of a retail partner that advertises their prices on their website, transparently.

With Trests there are no transaction fees, all the coins you mentioned do have transaction fees. Transactions take an average of 10 seconds to confirm, which is also a +.
Furthermore, with Trestor there is no mining required to protect the network which is a big waste of energy, and possibly unsustainable.

There are no transaction fees because there is no security in ensuring that the digital ledger stays the same. What would you do if law enforcement told you to reverse a transaction since 'terrorists' owned trests and were using them?

When you skip that big waste of energy you refer to, there are tradeoffs. I'll pass thanks.

I think you are misunderstanding how trestor works exactly. Since anyone can run a node, a transaction cant simply be reversed without the majority of the network agreeing on it

OK, but there's no incentive to run a node unless perhaps you are a business that buys and sells Trests. Since any such business depends upon Trestor (owner of ~all Trests currently) then it's in their best interest to support anything Trestor does. If Trestor is served with an order to reverse or suppress a transaction, they'll have no choice but to obey.

I didn't see the reversibility of transactions in the Trestor whitepaper, they're using a Proof of Stake blockchain which like any blockchain creates a permanent record of transactions.

If Trestor was 'served with an order to reverse or suppress a transaction' then this is no different than Ripple - which currently owns all the nodes.

There is no monetary incentive to set up a node, but according to the TNet documentation it would seem that a university would be interested in setting up a node so they can be a relay point to pass messages to other nodes.

I agree - this isn't much different than Ripple. They can effectively roll back transactions and this should be one factor determining whether or not users want to participate. It's fine that Trestor doesn't want to use mining to distribute or secure their network - they just can't sweep it under the rug as "more efficient than the waste of electricity in PoW". If it was as simple as that, Bitcoin wouldn't be the market leader nor would Litecoin be 2nd.

[canth]

Our Retail Partners allow you to buy and sell Trests in locations all over the world.

Please provide one example of a retail partner that advertises their prices on their website, transparently.

With Trests there are no transaction fees, all the coins you mentioned do have transaction fees. Transactions take an average of 10 seconds to confirm, which is also a +.
Furthermore, with Trestor there is no mining required to protect the network which is a big waste of energy, and possibly unsustainable.

There are no transaction fees because there is no security in ensuring that the digital ledger stays the same. What would you do if law enforcement told you to reverse a transaction since 'terrorists' owned trests and were using them?

When you skip that big waste of energy you refer to, there are tradeoffs. I'll pass thanks.

I think you are misunderstanding how trestor works exactly. Since anyone can run a node, a transaction cant simply be reversed without the majority of the network agreeing on it

OK, but there's no incentive to run a node unless perhaps you are a business that buys and sells Trests. Since any such business depends upon Trestor (owner of ~all Trests currently) then it's in their best interest to support anything Trestor does. If Trestor is served with an order to reverse or suppress a transaction, they'll have no choice but to obey.

I didn't see the reversibility of transactions in the Trestor whitepaper, they're using a Proof of Stake blockchain which like any blockchain creates a permanent record of transactions.

If Trestor was 'served with an order to reverse or suppress a transaction' then this is no different than Ripple - which currently owns all the nodes.

There is no monetary incentive to set up a node, but according to the TNet documentation it would seem that a university would be interested in setting up a node so they can be a relay point to pass messages to other nodes.

Yes, I would say atleast Trestor is currently better than Ripple where now you need to fill out AML and KYC and they can just reverse transactions. Its basically paypal at this point

You will need to do AML and KYC to buy Trests or else the firms selling them will be breaking MSB/MTL laws, at least in the USA. There are minimal thresholds, but there is no fully exempting AML and KYC - firms will need to file SARs just the same as Ripple Labs needs to do when they sell XRP to customers.

[Trests]

Dear mmm01: We have notified Stephan, he will answer your question shortly.

Dear canth,

Trestor Retail Partners (RPs) are simply trading a 'token of subjective value', other businesses are able to trade various other similar tokens like old coins, artwork, stamps, etc. without any special trading license. In case of Trestor RPs, token happens to be 'Trests'

The fundamental difference between Trestor RPs and MSBs is that while Trestor RPs are traders of tokens, MSBs lets a user deposit money and assign it to another person for withdrawal, therefore they are participating in money transmission and generally charge a transmission fee.    


Trestor Team
@trestorconnect
www.trestor.org

[canth]

Dear mmm01: We have notified Stephan, he will answer your question shortly.

Dear canth,

Trestor Retail Partners (RPs) are simply trading a 'token of subjective value', other businesses are able to trade various other similar tokens like old coins, artwork, stamps, etc. without any special trading license. In case of Trestor RPs, token happens to be 'Trests'

The fundamental difference between Trestor RPs and MSBs is that while Trestor RPs are traders of tokens, MSBs lets a user deposit money and assign it to another person for withdrawal, therefore they are participating in money transmission and generally charge a transmission fee.    


Trestor Team
@trestorconnect
www.trestor.org

I don't want to argue and I'm sure that you've vetted this with some lawyer, but suffice to say that I don't think this will stick.

I suggest you peruse sections B and C of the following document.

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

Your RPs are selling cryptocurrencies, full stop. As a firm that does this at a retail level, I'm certain that MSB/MTL state regulations apply as does the BSA. Best of luck if you think that your stores can do this without getting regulated and without filing necessary reporting at a state and federal level. It doesn't matter that you want to make a comparison to old coins, artwork, etc - FinCEN doesn't give a damn about those things or stamps but they do care about virtual currencies, which Trests clearly are. Hell - check the subject in this thread where you reference it as money.

[Trests]

Dear canth,

It's very refreshing to answer your logical questions, most people don't care about doing their homework, we really respect the time you have spent in digging out the legal facts here.

1. Sub section (b) is not applicable to our RPs or Trestor Foundation because of 2 reasons:
 
   a. There is no administrator
   b. RPs don't qualify as receiving financial institution

Reference: https://www.law.cornell.edu/cfr/text/31/1010.100

2. Sub section (c) is not applicable to our RPs, but may be applicable to Trestor Foundation, however,  we are very confident that our compliance   narrative is bullet-proof

Most important thing to understand here is what FinCEN thinks about its own guidance: 

This guidance explains only how FinCEN characterizes certain activities involving virtual currencies under the Bank Secrecy Act and FinCEN regulations. It should not be interpreted as a statement by FinCEN about the extent to which those activities comport with other federal or state statutes, rules, regulations, or orders.

FinCEN recognizes that the actual indictment probability arising from these guidance is low, not only because of overlapping laws but also because of definition complexity.

Trestor Team
@trestorconnect
www.trestor.org

 

[bitcoin1387]

I predict losses of Bitcoin for any one to invest in it. I feel no security with the photos such a team that has no name.

[Trests]

I predict losses of Bitcoin for any one to invest in it. I feel no security with the photos such a team that has no name.

Thank you for the feedback. They are group pictures it would be hard to add the name of each team member depicted to the OP.
But you can see all of our core team members on our website with their names and LinkedIn profiles: https://trestor.org/about-us.

[Braino]

Nice work. Definitely going to keep an eye on this one   

[Trests]

Stephan discussing Trestor project:

http://youmeandbtc.com/podcast/coin_cube-founder-robert-allen-and-trest-developer-stephan-ymb-podcast-e80/


Trestor Team
@trestorconnect
www.trestor.org

[Trests]

How we are helping Greeks escape capital control:

https://trestor.org/blog/greece/ (English)

https://trestor.org/blog/greece-greek/ (Greek)

Related interview: http://cointelegraph.com/news/114749/trestors-2000-crypto-loans-could-beat-bitcoin-at-aiding-greece

Today's article on Bitcoinist: http://bitcoinist.net/trestor-foundation-provides-solution-greece-capital-controls/

Trestor Team
@trestorconnect
www.trestor.org

[loveyouforever]

How can I get this coin?

[chokho]

You can get Trests at a Trestor Retail Partners location (trestor.org/locate-retail-partners) or online (trestor.org/get-trests).

[wildduck]

I like the transparency

[Trests]

https://i.imgur.com/TD6eVLv.jpg
Picture taken from the "Deccan Chronicle"

Another series of news on our offer to help Greek people while capital controls are in place.

Business Standard - July 12,2105 Indian startup sets up crypto-currency platform for Greeks DNA India - July 12, 2015 Indian startup sets up crypto-currency platform for Greeks PTI India - July 12, 2015 Indian startup sets up crypto-currency platform The Economic Times - July 12, 2015 Indian startup sets up crypto-currency platform for Greeks Millennium Post - July 13, 2015 Indian startup sets up crypto-currency platform for Greeks CNBC Money Control - July 13, 2015 Indian startup sets up crypto-currency platform for Greeks