ANN- CryptBit- MasterNodes- Pos 3.0- ICO on C-CEX- Security Centric For All

[bones261]

What is a master node?

In exchange for having a certain amount of collateral in your wallet, you can set up a masternode that gets a share of the reward, every time a block is found. In this case, the share would be 75% of the reward. In return, your masternode should do something called coin mixing. It will also help with processing dark send and instant tx transactions. Masternodes actually do this function with Dash.  Furthermore, unless Masternodes are enforced, there is a way someone can bypass this and have a wallet that does not pay to Masternodes. It appears many of the masternode plus POS 2.0 clones do not do this function properly, from what I can determine. Could be wrong....I'm probably not going to be involved in this coin unless the Masternodes actually do what they are supposed to and are enforced like in Dash.  Of course, over 1.3 BTC needed to get a Masternode is a big investment. Probably out of my price range anyway.

Thanks for the great explanation. I think I understand it mostly but do I need to buy a server or a new master node computer to run this or is it all in my wallet. I dont have extra money to be buying private servers or separate machines to turn into a cbit miner.

It all works in the wallet. No need for private server.

[Hoganye]

Too much promises. I wont be surprised if this turn out to be a SCAM ! ! ! just saying.

If there were no promises people like you would say where are the promises must be scam. Clowns to the left of me jokers to the right here I am stuck in the middle with you.

[HarryPotHead]

What is a master node?

In exchange for having a certain amount of collateral in your wallet, you can set up a masternode that gets a share of the reward, every time a block is found. In this case, the share would be 75% of the reward. In return, your masternode should do something called coin mixing. It will also help with processing dark send and instant tx transactions. Masternodes actually do this function with Dash.  Furthermore, unless Masternodes are enforced, there is a way someone can bypass this and have a wallet that does not pay to Masternodes. It appears many of the masternode plus POS 2.0 clones do not do this function properly, from what I can determine. Could be wrong....I'm probably not going to be involved in this coin unless the Masternodes actually do what they are supposed to and are enforced like in Dash.  Of course, over 1.3 BTC needed to get a Masternode is a big investment. Probably out of my price range anyway.

Thanks for the great explanation. I think I understand it mostly but do I need to buy a server or a new master node computer to run this or is it all in my wallet. I dont have extra money to be buying private servers or separate machines to turn into a cbit miner.

It all works in the wallet. No need for private server.

But how do I set up the node? Is it going to be complicated? I've never owned a master node before.

[zaph3t]

Too much promises. I wont be surprised if this turn out to be a SCAM ! ! ! just saying.

If there were no promises people like you would say where are the promises must be scam. Clowns to the left of me jokers to the right here I am stuck in the middle with you.

Look! keep it to yourself ok? I dont know if you are part of the Team or just someone paid to defend or support their project. We have seen some coins making promises and not
deliver a dime and you already know that yourself. Currently devs have to keep convincing people so that the ICO can sell it is the same thing that happened with botcoin same hype
from people like you but where is it now? Botcoin even had a video presentation of their product but still turned out to be a SCAM! This coin has nothing show, nothing to demo - they just
want your BTC first before they deliver. DO NOT GIVE THEM EASY WAY TO SCAM - these can be the same devs from Botcoin trying a NEW SCAM idea.

[Paycoinzzz]

Look! keep it to yourself ok? I dont know if you are part of the Team or just someone paid to defend or support their project. We have seen some coins making promises and not
deliver a dime and you already know that yourself. Currently devs have to keep convincing people so that the ICO can sell it is the same thing that happened with botcoin same hype
from people like you but where is it now? Botcoin even had a video presentation of their product but still turned out to be a SCAM! This coin has nothing show, nothing to demo - they just
want your BTC first before they deliver. DO NOT GIVE THEM EASY WAY TO SCAM - these can be the same devs from Botcoin trying a NEW SCAM idea.

Smart people make money on every ICO. Stupid people fud. I see the usual paid fuders are out in full force. This is a definite buy.

[bones261]

What is a master node?

In exchange for having a certain amount of collateral in your wallet, you can set up a masternode that gets a share of the reward, every time a block is found. In this case, the share would be 75% of the reward. In return, your masternode should do something called coin mixing. It will also help with processing dark send and instant tx transactions. Masternodes actually do this function with Dash.  Furthermore, unless Masternodes are enforced, there is a way someone can bypass this and have a wallet that does not pay to Masternodes. It appears many of the masternode plus POS 2.0 clones do not do this function properly, from what I can determine. Could be wrong....I'm probably not going to be involved in this coin unless the Masternodes actually do what they are supposed to and are enforced like in Dash.  Of course, over 1.3 BTC needed to get a Masternode is a big investment. Probably out of my price range anyway.

Thanks for the great explanation. I think I understand it mostly but do I need to buy a server or a new master node computer to run this or is it all in my wallet. I dont have extra money to be buying private servers or separate machines to turn into a cbit miner.

It all works in the wallet. No need for private server.

But how do I set up the node? Is it going to be complicated? I've never owned a master node before.

Here are instruction for setting up a masternode for Fade coin in their OP. (An abandoned coin that was taken over and now the takeover is going nowhere too.) https://bitcointalk.org/index.php?topic=1068458.0
I'm sure the instructions for this coin will be similar, with a few different parameters.

[zaph3t]

Look! keep it to yourself ok? I dont know if you are part of the Team or just someone paid to defend or support their project. We have seen some coins making promises and not
deliver a dime and you already know that yourself. Currently devs have to keep convincing people so that the ICO can sell it is the same thing that happened with botcoin same hype
from people like you but where is it now? Botcoin even had a video presentation of their product but still turned out to be a SCAM! This coin has nothing show, nothing to demo - they just
want your BTC first before they deliver. DO NOT GIVE THEM EASY WAY TO SCAM - these can be the same devs from Botcoin trying a NEW SCAM idea.

Smart people make money on every ICO. Stupid people fud. I see the usual paid fuders are out in full force. This is a definite buy.

lol! You can check my posts history. Im an investors like yourself and just given my opinion. You can buy as many as you want since you are a smart person - it is your own BTC.

[bones261]

Look! keep it to yourself ok? I dont know if you are part of the Team or just someone paid to defend or support their project. We have seen some coins making promises and not
deliver a dime and you already know that yourself. Currently devs have to keep convincing people so that the ICO can sell it is the same thing that happened with botcoin same hype
from people like you but where is it now? Botcoin even had a video presentation of their product but still turned out to be a SCAM! This coin has nothing show, nothing to demo - they just
want your BTC first before they deliver. DO NOT GIVE THEM EASY WAY TO SCAM - these can be the same devs from Botcoin trying a NEW SCAM idea.

Smart people make money on every ICO. Stupid people fud. I see the usual paid fuders are out in full force. This is a definite buy.

If someone is getting paid to fud, sounds smart to me. Anyone know how I can apply to be a paid fudder?

[Devasive]

Look! keep it to yourself ok? I dont know if you are part of the Team or just someone paid to defend or support their project. We have seen some coins making promises and not
deliver a dime and you already know that yourself. Currently devs have to keep convincing people so that the ICO can sell it is the same thing that happened with botcoin same hype
from people like you but where is it now? Botcoin even had a video presentation of their product but still turned out to be a SCAM! This coin has nothing show, nothing to demo - they just
want your BTC first before they deliver. DO NOT GIVE THEM EASY WAY TO SCAM - these can be the same devs from Botcoin trying a NEW SCAM idea.

Smart people make money on every ICO. Stupid people fud. I see the usual paid fuders are out in full force. This is a definite buy.

If someone is getting paid to fud, sounds smart to me. Anyone know how I can apply to be a paid fudder?

Check the craigslist personals.

[bones261]

Look! keep it to yourself ok? I dont know if you are part of the Team or just someone paid to defend or support their project. We have seen some coins making promises and not
deliver a dime and you already know that yourself. Currently devs have to keep convincing people so that the ICO can sell it is the same thing that happened with botcoin same hype
from people like you but where is it now? Botcoin even had a video presentation of their product but still turned out to be a SCAM! This coin has nothing show, nothing to demo - they just
want your BTC first before they deliver. DO NOT GIVE THEM EASY WAY TO SCAM - these can be the same devs from Botcoin trying a NEW SCAM idea.

Smart people make money on every ICO. Stupid people fud. I see the usual paid fuders are out in full force. This is a definite buy.

If someone is getting paid to fud, sounds smart to me. Anyone know how I can apply to be a paid fudder?

Check the craigslist personals.

I said Fudder, not fluffer. 

[Paycoinzzz]

lol! You can check my posts history. Im an investors like yourself and just given my opinion. You can buy as many as you want since you are a smart person - it is your own BTC.

investors only fud when it benefits them.  You are not an investor you are a fud puppet or a complete newb.

[asuryan180]

CROWDSALE IS NOW AVAILABLE: https://c-cex.com/?p=cbit-btc

Nice

Just bought some!

Why the dark clone? Isn't that a bit 2014?

Too much tech info on black background makes my head hurt. Need a TLDR on this one.

[bones261]

Why the dark clone? Isn't that a bit 2014?

Too much tech info on black background makes my head hurt. Need a TLDR on this one.

Actually, this is a Crave clone, which was all the rage a few month ago. However, that trend is now dead. I don't think Crave nor any of it's clones are doing well now. Maybe the dev team should just get rid of the Masternodes and go for the POS 3.0 and security features.

[babykayho]

Why the dark clone? Isn't that a bit 2014?

Too much tech info on black background makes my head hurt. Need a TLDR on this one.

Actually, this is a Crave clone, which was all the rage a few month ago. However, that trend is now dead. I don't think Crave nor any of it's clones are doing well now. Maybe the dev team should just get rid of the Masternodes and go for the POS 3.0 and security features.

Haha i was just thinking maybe keep the masternodes and get rid of all the cutting edge security stuff :-)  On first read struck me mainly as a possible moneymaker because of the masternodes.

Guess I gotta go back and read the OP and figure out what the security features are all about.

[operabit]

Supply 2 million, the price of 10k satoshi, not too expensive

[sana54210]

Interesting project. It had not occurred to me before, the idea of a 2fA protected layer across all ones' personal crypto assets.

Also, being able to cross borders with all your assets safe in the cloud.

Have to look more into the actual foundations of this but marketing-wise there are some great ideas here.

[Hoganye]

This is too cheap for the total coin supply. Some will get burnt too this is a sure hit.

[bones261]

OK, I read more of the OP and I see the Masternodes are part of the whole security deal. I'm confused and concerned about this automatic detecting and encrypting my wallets for me. Will the user at least get some input on what the passwords will be for the encryption? Will I be able to store these on an alternate program like Keepass? I would hate to go below the 5000 coins required for me to use the security features and find that I am now locked out of all my coins.

[CryptBit]

OK, I read more of the OP and I see the Masternodes are part of the whole security deal. I'm confused and concerned about this automatic detecting and encrypting my wallets for me. Will the user at least get some input on what the passwords will be for the encryption? Will I be able to store these on an alternate program like Keepass? I would hate to go below the 5000 coins required for me to use the security features and find that I am now locked out of all my coins.

The masternodes are an integral part of our multilayered security approach, providing a final layer of security for outbound transactions. Ordinarily, involving masternodes in this sort of role woul lead to an unacceptable decline in network speed. However, by integrating libsecp256k1 into our blockchain design we are completely offsetting that potential problem. In fact, we expect users will experience network speeds and tx times that are noticeably faster than any other coin currently out there.

With respect to your passwords and security levels: you will be able to choose from several different levels of password security. Within this system you may keep your old passwords and at the very simplest level, simply layer a single 2FA protection across all your current wallets. A range of progressively more secure options will also be available to security conscious users . Dropping below the minimum coin account simply removes the CryptBit protection. It does not affect your wallets themselves.

[babykayho]

How much is required to run a masternode? And those coins are locked, correct?