[ANN] [KRB] Karbo (Ҝ) Кapбoвaнeць - Ukrainian Electronic Karbovanets CryptoNote

[M.minor]

that a pump and a dumper, killed a coin

[Karbonator]

Dear friends of the Karbowanec,

I have 3 questions.

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

2. Is there planned to implement a voting system?

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

Thank you for answering my questions.

Regards.

[aiwe]

Dear friends of the Karbowanec,

I have 3 questions.

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

2. Is there planned to implement a voting system?

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

Thank you for answering my questions.

Regards.

If you would do some reading you would find all the answers, hint - CryptoNote whitepaper

ad 1. Unlimited
ad 2. It is implemented for hardforks.
ad 3. see 1 and 2.

[byteminr]

- he now regrets to have charged Bitcoin with the term "fraud"....

I dont think that Jamie Dimon was very upset.
After his statement and news from Chaina the bitcoin rate dipped and JP Morgan bought it ;-)

[Karbonator]

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

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

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

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

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

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

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

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

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

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

Here is the full interview:

youtu.be/fy16eIEux7U

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

Ouch  - that should hurt a lot.

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

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

Any suggestions? Thx.

[namemyname]

Hey Karbonator, perhaps you, Stiglitz and JP Morgan are right.

But maybe when the current "wall street style" stock market started, people were affraid too.
But at the end, is all about money... somebody, somewhere, is going to take some "hidden" coins to do lobby and approve some law to legalize all this...

I also found your tulips story, but i really don´t trust that guy anyway...

http://cnb.cx/2BtziYt

[byteminr]

I think Karbowanec it's interesting project and it can have a great potencial.
But time will tell. Will see ;-)

[Flodner]

Good news.
will be added to the Ukrainian stock exchange kuna.io and to cryptoms Cryptomat, which should facilitate the purchase of currency.
https://www.facenews.ua/news/2017/384505/
My question: Is there utility on this coin other than transfer of money? thanks.

Yes, good news, I used Kuna even recently I sold a bit of Eth there, just wanted to check how long it will take to change any crypto on Cryptopia and exchange to Hryvnas on your card. Very fast, less than half an hour (of course Eth transaction takes time)

Check their roadmap - Karbowanec's team has great plans, i.e. to create mobile wallet.
More businesses will take Karbowanec for usage.
Regarding latest Bitcoin's fast growth, at the moment Karbowanec fell a bit in price, but I think it will rise again more and more

[spinter]

Sorry for Solo Mining 4 pcs in the same Karbon CLI wallet and possible?

[Karbonator]

CryptoNote Currency Bug Allowed Creation of Unlimited Number of Coins

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

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

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

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

[Karbonator]

693 Million Bytecoin Tokens Were Artificially Created

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

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

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

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

 

Karbowanec was derived from Bytecoin, issnt it?

[Andretti83]

Karbowanec was derived from Bytecoin, issnt it?

Yes, it was. But unlike Bytecoin it was patched immediately after bug disclosure.
https://twitter.com/krbcoin/status/865185084403580929

[vella85]

I'm still holding my KRB as this is only the start to bigger things to come. I got in at around 2500 sats and yes I did sell some when it hit 20k sats just to get back my BTC I put into KRB. Now I'm holding the rest for the long term as that's when I can see KRB being worth a lot more then it is now.

[hashgoalPool]

Put some hash here karbowanec.cryptopool.in
High end servers/24 hour uptime/own datacenters/0% pool fee

[aiwe]

Karbowanec was derived from Bytecoin, issnt it?

Yes, it was. But unlike Bytecoin it was patched immediately after bug disclosure.
https://twitter.com/krbcoin/status/865185084403580929

In fact Karbo was patched BEFORE the disclosure

[Flodner]

So Karbowanec was fork of Bytecoin?
Just checked Bytecoin and it's not $0.001600
Actually it never reached even 1 cent in dollar (the highest price was in May 2017, but still it was 0.004)
Interesting to observe why Bytecoin failed, but Karbowanec is on the rise. Apart from marketing and team - do you know other reasons?

[Andretti83]

So Karbowanec was fork of Bytecoin?
Just checked Bytecoin and it's not $0.001600
Actually it never reached even 1 cent in dollar (the highest price was in May 2017, but still it was 0.004)
Interesting to observe why Bytecoin failed, but Karbowanec is on the rise. Apart from marketing and team - do you know other reasons?

How are you a full member and still don't know that you not supposed to compare price of individual coins, but market caps?
That's still doesn't give you a full picture, but a much better metrics.

[Flodner]

How are you a full member and still don't know that you not supposed to compare price of individual coins, but market caps?
That's still doesn't give you a full picture, but a much better metrics.

Good point, my mistake that I didn't take a look at market cap at all
For Bytecoin it is  $297,405,826 USD
For Karbowanec  $6,916,241 USD

It's just I never heard a lot about Bytecoin, about Karbowanec I heard and became interested because it was started by Ukrainians.
So it seemed for me Bytcoin is much less popular and much less developped.

And by the way being "Full Member" is even worse metrics to compare. Time on forum and number of comments didn't give full picture, and it's very easy to become Full Member if you have such goal.

[Andretti83]

How are you a full member and still don't know that you not supposed to compare price of individual coins, but market caps?
That's still doesn't give you a full picture, but a much better metrics.

So it seemed for me Bytcoin is much less popular and much less developped.

You may google "bytecoin premine" and find how 80% of Bytecoins was mined secretly by developers themselves.
This fact alone give bytecoin a big red "scam" label by majority of crypto community. And nobody want to have a deal with it.
Sure, it pumps sometimes and have a big marketcap, but that's because majority of coins concentrated in few hands.

Recently Bytecoin has another nail in the coffin when it did not fix vulnerability in cryptonote coins and about 700 mln of bytecoins were created by hackers (or possibly insiders) out of thins air and solded on exchanges.

To be clear, karbo didn't suffer from same bug (was fixed in time) and has a clear launch history.

[Flodner]

Thanks for explanation, that's what was interesting to know
Actually I saw some other coins based on Cryptonote but didn't notice anything interesting among them.

Another question, did somebody do Karbowanec mining on Raspberry Pi? I asked because I have this device (Raspberry Pi 2) and I think may be setup 24/7 mining there