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

[sana54210]

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.

I still dont understand the need for a masternode or what it really does for the coin. Does it help to secure the network or is it just a giant mixer?

Others feel free to correct me if I am wrong, but above and beyond the large staking master nodes ensure a stable and "always on" situation for the network. This is especially essential in this sort of project, where apparently users will be able to choose to have their outgoing transactions vetted by the network as an extra precaution against hacks. If you are doing that sort of thing, you want a very robust network.

[deluxeCITY]

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.

I still dont understand the need for a masternode or what it really does for the coin. Does it help to secure the network or is it just a giant mixer?

Others feel free to correct me if I am wrong, but above and beyond the large staking master nodes ensure a stable and "always on" situation for the network. This is especially essential in this sort of project, where apparently users will be able to choose to have their outgoing transactions vetted by the network as an extra precaution against hacks. If you are doing that sort of thing, you want a very robust network.

So it does work to make the blockchian stronger?

[CorumTime]

Can I own 1 master node and also have 3000 coins staking or is it one or the other.

[udet4food]

Can I own 1 master node and also have 3000 coins staking or is it one or the other.

Do you have a vps or spare computer? If so I would say you can but if you do that you may as well buy another 10k and set up another node? Well that is what I would do but thats just me.

[Zoomer]

I will now stop buying little amounts of CryptBit 

Time to start buying big or go home lol

I have the 13.5k but the more I think about and re-read the thread makes me want to get in for more than just a btc and abit.

Will wait for a few more days towards the end of the sale and then panic buy with the rest.

Exciting times.

[CorumTime]

Can I own 1 master node and also have 3000 coins staking or is it one or the other.

Do you have a vps or spare computer? If so I would say you can but if you do that you may as well buy another 10k and set up another node? Well that is what I would do but thats just me.

I dont have any extra computers but I was thinking about buying 1 master node and a few thousand coins extra to trade with. Is it possible to have a master node and be staking in the wallet at the same time.

[HarryPotHead]

People are only seeing the money angle of this.  Masternodes got people all jizzed. Look at the big picture people, personal security suite / cloud option / single layer 2FA. That is what you should be noticing. Never been done before. They pull this off there is no problem becoming  "the Coinbase of alts"

Cryptbase. I like the name. Genius.

Don't mind them for they are weak.

[foreveryoung]

Coinbase of alts sounds interesting

[foreveryoung]

How does a ICO work?  Is it over?

[udet4food]

Can I own 1 master node and also have 3000 coins staking or is it one or the other.

Do you have a vps or spare computer? If so I would say you can but if you do that you may as well buy another 10k and set up another node? Well that is what I would do but thats just me.

I dont have any extra computers but I was thinking about buying 1 master node and a few thousand coins extra to trade with. Is it possible to have a master node and be staking in the wallet at the same time.

I would love to answer you knowing 100% but i don't lol at a guess no you won't be able to run a masternode and stake separately in wallet. All will be staking at 75% but even if you could it would be minimal amount at 25%. Like i said not totaly sure hopefully someone can jump in if need be.

[terman45x]

How does a ICO work?  Is it over?

Yes it is over.Now finish your milk and cookies and go to sleep.

[15Lemon714]

Coinbase of alts sounds interesting

CryptBase sounds awesome and if that becomes a success, well need I say what the future could hold for this project with that in the pipeline.

[udet4food]

How does a ICO work?  Is it over?

Yes it is over.Now finish your milk and cookies and go to sleep.

That sounds beautiful to me! Cookies and milk with some ICO mmmmmm

Forever there is a link in the main post but you must have missed it somehow.

https://c-cex.com/?p=cbit-btc

[sana54210]

I smell a trojan horse.

Re-reading the OP just now and it jumped out at me - i don't understand how i missed this before.

One or more of the devs is working with lattices.

https://en.wikipedia.org/wiki/Lattice-based_cryptography

That is some hardcore shit. They are apparently organizing VC funding. This is why they are saying as little as possible about this part of CryptBit.

[15Lemon714]

I smell a trojan horse.

Re-reading the OP just now and it jumped out at me - i don't understand how i missed this before.

One or more of the devs is working with lattices.

https://en.wikipedia.org/wiki/Lattice-based_cryptography

That is some hardcore shit. They are apparently organizing VC funding. This is why they are saying as little as possible about this part of CryptBit.

I remember reading that but to be honest that kind of went straight over my head, I have no idea what one of the devs was working on but I can say it sounded cool   Sana what you have said has also not registered, in short what is it you think is going on because hardcore shit is good shit no?

[CorumTime]

Can I own 1 master node and also have 3000 coins staking or is it one or the other.

Do you have a vps or spare computer? If so I would say you can but if you do that you may as well buy another 10k and set up another node? Well that is what I would do but thats just me.

I dont have any extra computers but I was thinking about buying 1 master node and a few thousand coins extra to trade with. Is it possible to have a master node and be staking in the wallet at the same time.

I would love to answer you knowing 100% but i don't lol at a guess no you won't be able to run a masternode and stake separately in wallet. All will be staking at 75% but even if you could it would be minimal amount at 25%. Like i said not totaly sure hopefully someone can jump in if need be.

Thanks for trying to help. Maybe the dev can answer this for me.

[Ltsknnr]

The more I read over this, the more I think I want to have a masternode in my life. Time to crack open a cold-storage wallet.

[lindeanin]

How does a ICO work?  Is it over?

Yes it is over.Now finish your milk and cookies and go to sleep.

That sounds beautiful to me! Cookies and milk with some ICO mmmmmm

Forever there is a link in the main post but you must have missed it somehow.

https://c-cex.com/?p=cbit-btc

Nice 

this has the smell of winning right here. I'm in!!!

[vervolioman]

Coinbase of alts sounds interesting

CryptBase sounds awesome and if that becomes a success, well need I say what the future could hold for this project with that in the pipeline.

It does sound like a well thought out project. It says assuming it becomes profitable that orginal investors will be rewarded with 20% of said profits, question I have is how will that be distributed? I mean how will they know I invested @ earliest op

[sana54210]

I smell a trojan horse.

Re-reading the OP just now and it jumped out at me - i don't understand how i missed this before.

One or more of the devs is working with lattices.

https://en.wikipedia.org/wiki/Lattice-based_cryptography

That is some hardcore shit. They are apparently organizing VC funding. This is why they are saying as little as possible about this part of CryptBit.

I remember reading that but to be honest that kind of went straight over my head, I have no idea what one of the devs was working on but I can say it sounded cool   Sana what you have said has also not registered, in short what is it you think is going on because hardcore shit is good shit no?

Essentially lattice cryptography puts complexity into a three dimensional space. Instead of brute forcing combinations of numbers and letters (binary, 2 dimensional) lattices make the encryption a matter of points in three dimensional space. Attackers need to calculate an infinite number of points in three dimensions to even arrive at one possible solution.

Quantum computing allows you a huge advantage over regular computing. Regular computing is binary. 2 possible values for each position. In quantum computing, the values of each point can be different and still co exist. So it is exponentially more powerful than normal computing. It is what both the government and the bad guys will be using within the next 5 to 10 years to try to track your shit.

So if this is in the cards for CryptBit - making your wallets and finances hardened against even quantum computing - and hard to see how it is not, given  what their core value proposition is - this is a remarkable thing indeed.