[ANN] [SUMO] SUMOKOIN - 🔏 Digital Cash For Highly-Confidential Transactions 🔏

[oudekaas]

By no means an expert, I don't even know what a hard fork is. Can u eat with that?

And yes I was aware, I meant member of sumokoin forum.

Y altcoins are risky, but if you are denying certain possible red flags you are increasing your riskfactor to a point that you shouldn't call it an investment but a donation to charity.

[1713982086]

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[1713982086]

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[sumogr]

By no means an expert, I don't even know what a hard fork is. Can u eat with that?

And yes I was aware, I meant member of sumokoin forum.

Y altcoins are risky, but if you are denying certain possible red flags you are increasing your riskfactor to a point that you shouldn't call it an investment but a donation to charity.

Your opinion as said before is well respected. Lets see then if the devs fulfill your request and reveal their identities cause it would be nice to have you in the community as well.

[oudekaas]

thx sumogr I have my fingers crossed 

[jimmyvu]

By no means an expert, I don't even know what a hard fork is. Can u eat with that?

And yes I was aware, I meant member of sumokoin forum.

Y altcoins are risky, but if you are denying certain possible red flags you are increasing your riskfactor to a point that you shouldn't call it an investment but a donation to charity.

Your opinion as said before is well respected. Lets see then if the devs fulfill your request and reveal their identities cause it would be nice to have you in the community as well.

I had been in Japan quite a few years and was working with many Japanese staff. I think if Sumoshi were a Japanese with career and family he would never reveal his true identity no matter how the coin succeeds. There is sth deep in the country culture that put no respects to so-called "unofficial jobs", even small entrepreneurs there were talked back as kind of losers LOL. Nakamoto may have the same reason to stay anonymity forever. however, I can always trust their honesty, ethics and professionalism though slow moving, too detailed are minus

P/S: in cryptocurrency world, i dont trust polished identities, if someone wants to get rich quick, there are many ICOs out there to follow but i doubt any of them would bring sth useful at the end

[heratys111]

that is not the same, I am not asking you to invest in my product.

we can all have/ show good intentions but people change when things go south. In the end all of us are here to make money and so are the devs?

Also why would they keep their identity hidden in the end I assume they are meeting up with companies? So their identities should be out in the open?

And if they are really behind their product there is no reason behind hiding identity?

Anyway nice coin, but without the above info I will give it a miss.

The developers provided three names at the top of the thread.  Perhaps those are pseudonyms (although that is doubtful) but they should not feel obligated to declare personal info.  Privacy seems to have certain benefits... consider, for instance that celebrities have to deal with paparazzi and security concerns that a person who isn't a publically-recognized persona doesn't need to bother with.  In some instances, individuals can also be subject to unwarranted or unjustified scrutiny by the state that they live in (particularly in corrupt or despotic countries).  It shouldn't matter to anyone besides yourself if you think the devs have nefarious motivations because they may (or may not) choose to be private.  A person can be anonymous and beneficial **or** be public and be a total good-for-nothing cretin.  Actions and intentions are what count.  You've presented a false dichotomy.

Maybe we all want to hold assets that are good stores of value, effective means of exchange, and are useful units of account (or "make money" as you put it).  We are taking a rationally-calculated risk based on evidence, our individual predictions of future outcomes arising from our present actions and predictions of the actions of others (as much as we can anticipate these anyway).

You cannot or should not expect to always please everybody.

I try to sync the wallet but it is stock for aware without moving any blocks and then it starts displaying this "2017-Jun-27 10:56:38.225884 [P2P4]IP 128.199.54.20 blocked."
What should I do?

I'm encountering similar behaviour in the daemon since booting this computer up tonight too,  I hadn't encountered this issue before and I'm unsure that it's a firewall problem in my case.  I'm planning on saving my wallets and reinstalling the software.   Jusf for a check I loaded the Aeon daemon (another cryptonote-based one) and that synced properly. (It's sort of annoying because I wanted to open up one of the wallets  .)

[billaue]

I try to sync the wallet but it is stock for aware without moving any blocks and then it starts displaying this "2017-Jun-27 10:56:38.225884 [P2P4]IP 128.199.54.20 blocked."
What should I do?

I'm encountering similar behaviour in the daemon since booting this computer up tonight too,  I hadn't encountered this issue before and I'm unsure that it's a firewall problem in my case.  I'm planning on saving my wallets and reinstalling the software.   Jusf for a check I loaded the Aeon daemon (another cryptonote-based one) and that synced properly. (It's sort of annoying because I wanted to open up one of the wallets   .)

Probably, you synced with bad nodes that are still running old version. Pls stop daemon, delete file

Code:

p2pstate.bin

at directory

Code:

C:\ProgramData\sumokoin

and restart it. Maybe you'll have to delete

Code:

Imdb

folder too to resync

[heratys111]

Probably, you synced with bad nodes that are still running old version. Pls stop daemon, delete file

Code:

p2pstate.bin

at directory

Code:

C:\ProgramData\sumokoin

and restart it. Maybe you'll have to delete

Code:

Imdb

folder too to resync

Yep... nothing wrong with the code... I was just being a doofus (after taking a minute or two trying to find where the blasted p2pstate.bin file might be in Ubuntu and why I could open the log file in the earlier iteration of Sumo but not the current one... it dawned on me that I'd opened up the old version and started syncing that...).  

Thanks though

[oudekaas]

Hello,

Thanks for  your reply.
First of, I think we should probably allow the devs to answer for themselves on this matter, no reasons to come up with justifications for them to be anonymous from my point of view, in the end a lot of other coins don't have this issue. Let's be critical instead of blind trust and see what the devs say about this.

Without knowing someones true identity/ background one should probably not be doing business with them. This is why ebay works? You cut your risk down by buying from a vendor that has good ratings. It would be different if there was no premine.

I read on page 1 that this coin is not specifically aimed for the japanese market (although ofcourse hopefully it will be succesful there) and there is no way to conclude the devs are japanese nor is there anyway to conclude if the names are doubtful? Unless I am missing some info?

Actions and intentions do count, however how do you figure out that these action and intentions have no higher endgoal? There is no way if you don't know the background/ identity. This is why people fall into scams all the time. It is the combi of 10% premine and not knowing who the guys are that stops me from putting my money in at the moment. 10% seems a hell of a lot/ why not 5% it should be more than enough.

 Let's say hypothetically speaking the devs are human beings and managed to educate themselves through hard work and figured out a way to make a fork of a coin like this (I honoustly don't know how hard that is). Now let's assume they want to get rich soon. (not entirely unlikely) What is the likelyhood these anonymous devs succomb to greed when things are moving too slow/ and they need money themselves? No way to trace em up. Perfect crime. We as investors/ luck seekers kindly obliged.

Next to that the fact that the premine is justified by mentioning that any good coin with a long term future needs a premine is just not true imo. Bitcoin had no premine, nor did monero, why does sumo need it really?

I am not saying I am right and you guys are wrong, but like I mentioned before is this not the same as buying a car from an anonymous salesmen? Is that ever a smart idea?

They are selling this coin to us, so I think it is fair to say that as potential clients we have the right to ask them these questions?

Last post from me I hope the devs can react to this.

that is not the same, I am not asking you to invest in my product.

we can all have/ show good intentions but people change when things go south. In the end all of us are here to make money and so are the devs?

Also why would they keep their identity hidden in the end I assume they are meeting up with companies? So their identities should be out in the open?

And if they are really behind their product there is no reason behind hiding identity?

Anyway nice coin, but without the above info I will give it a miss.

The developers provided three names at the top of the thread.  Perhaps those are pseudonyms (although that is doubtful) but they should not feel obligated to declare personal info.  Privacy seems to have certain benefits... consider, for instance that celebrities have to deal with paparazzi and security concerns that a person who isn't a publically-recognized persona doesn't need to bother with.  In some instances, individuals can also be subject to unwarranted or unjustified scrutiny by the state that they live in (particularly in corrupt or despotic countries).  It shouldn't matter to anyone besides yourself if you think the devs have nefarious motivations because they may (or may not) choose to be private.  A person can be anonymous and beneficial **or** be public and be a total good-for-nothing cretin.  Actions and intentions are what count.  You've presented a false dichotomy.

Maybe we all want to hold assets that are good stores of value, effective means of exchange, and are useful units of account (or "make money" as you put it).  We are taking a rationally-calculated risk based on evidence, our individual predictions of future outcomes arising from our present actions and predictions of the actions of others (as much as we can anticipate these anyway).

You cannot or should not expect to always please everybody.

I try to sync the wallet but it is stock for aware without moving any blocks and then it starts displaying this "2017-Jun-27 10:56:38.225884 [P2P4]IP 128.199.54.20 blocked."
What should I do?

I'm encountering similar behaviour in the daemon since booting this computer up tonight too,  I hadn't encountered this issue before and I'm unsure that it's a firewall problem in my case.  I'm planning on saving my wallets and reinstalling the software.   Jusf for a check I loaded the Aeon daemon (another cryptonote-based one) and that synced properly. (It's sort of annoying because I wanted to open up one of the wallets  .)

[Mynero]

Without knowing someones true identity/ background one should probably not be doing business with them. This is why ebay works? You cut your risk down by buying from a vendor that has good ratings.

But you are not doing business with the developers. Sumokoin is an open software project. All the code is available on Github, so there is no need do trust the developers. If you want to run a node or mine you can check the code for yourself (or if you cannot, you can ask somebody you trust to do it for you).

Or if you want to buy coins from an exchange you are then trusting the exchange, not the developers. You have no idea who is selling the coins you are buying, you just trust that the exchange is being honest and you are in fact getting coins that can be withdrawn to your own wallet.

It would be different if there was no premine.

How exactly would it be different? Certainly the premine gives the developers the ability to crater the price of Sumokoin by dumping the premined coins to the market - but such action would make no economic sense. For a new adopter there is virtually no difference between a premine and people who just mined before I did or bought coins when they were cheap.

And most Monero devs are also pseudonymous. Does that somehow taint the Monero project?

[oudekaas]

Hi thx for reply,

I agree with many things in your post, so my comparison with the car salesman doesn't quite hold up.
I should have read a bit more about the coin before starting my rant.
I noticed also they have escrowed the premine until 2020 not sure exactly what that means, but I guess until that time those coins are not part or the market. I agree that it makes no sense to dump the coins in a healthy economy. But if they mentioned for instance the premined coins will slowly be released spread out over the next twenty years it would make me feel more comfortable.

So question I have now is will those 8.8 mill premined coins all be on the market in 2020 or only proportions of it, are all the escrowed wallets aimed to be released in 2020

So let's say one coin becomes worth more than a few dollars... the return on that premine would be phenomenal? Even after 3 years. What protects us against them pulling all that money out?

Without knowing someones true identity/ background one should probably not be doing business with them. This is why ebay works? You cut your risk down by buying from a vendor that has good ratings.

But you are not doing business with the developers. Sumokoin is an open software project. All the code is available on Github, so there is no need do trust the developers. If you want to run a node or mine you can check the code for yourself (or if you cannot, you can ask somebody you trust to do it for you).

Or if you want to buy coins from an exchange you are then trusting the exchange, not the developers. You have no idea who is selling the coins you are buying, you just trust that the exchange is being honest and you are in fact getting coins that can be withdrawn to your own wallet.

It would be different if there was no premine.

How exactly would it be different? Certainly the premine gives the developers the ability to crater the price of Sumokoin by dumping the premined coins to the market - but such action would make no economic sense. For a new adopter there is virtually no difference between a premine and people who just mined before I did or bought coins when they were cheap.

And most Monero devs are also pseudonymous. Does that somehow taint the Monero project?

[billaue]

I had a long talk with Sumoshi and Haruto about revealing our identities before. Both flatly refused to post anything more than their family names here. Sumoshi had some reasons:

1. He created Sumokoin because its features especially built-in anonymity in transactions and he think that will be upmost important in the long run. He chose very high ringsize/mixin (12+) as minimum privacy level (after many debates), rather a "paranoid" level I could say, for that reason.

2. He would never release the coin if he had to sacrifice his anonymity (so did Haruto), partially because the country culture, especially strict corporate culture which questions any side project outside company interests. And that's his life (not purely abt the job or salary but sth about relationship/face, I'm not entirely sure).

All guys who follow this thread from beginning may recognize that we're, by no means, experts in this field; we created Sumokoin accidentally but with a purpose: an ultimately privacy-centric coin. Everything else is up to community judgement. Some feel ok with pseudonym, some not; some are ok with 10% premined (or unknown, yet-up-to 50% like Ethereum, probably 90% - 100% in some ICOs), others may only accept 5% or none. Unfortunately, we cannot please everyone. We also don't try to buy trust by all means, some principles will never change. Investment to any coin, even established one, is a very risky business. Nobody knows what would happen tomorrow, next year or next 5 years. So, if any doubt, pls don't buy the coin. Devs are not in rush, we have a long vision and commitment to Sumokoin and that's all we can give you guys right now.

[oudekaas]

Hello,

Thank you for the reply. You don't have to buy trust, you guys have got a really nice setup here, so this is what makes me have interest in this coin.
All I am asking now is what will happen exactly with the escrowed premined coins in 2020 will they all be released in one go? How do you protect yourself from being greedy? Could it not be setup in a way that the release of premined coins get's spread out over years later? If the premine is mainly to keep the project going there is no requirement for all the coins to be released in one go?

I had a long talk with Sumoshi and Haruto about revealing our identities before. Both flatly refused to post anything more than their family names here. Sumoshi had some reasons:

1. He created Sumokoin because its features especially built-in anonymity in transactions and he think that will be upmost important in the long run. He chose very high ringsize/mixin (12+) as minimum privacy level (after many debates), rather a "paranoid" level I could say, for that reason.

2. He would never release the coin if he had to sacrifice his anonymity (so did Haruto), partially because the country culture, especially strict corporate culture which questions any side project outside company interests. And that's his life (not purely abt the job or salary but sth about relationship/face, I'm not entirely sure).

All guys who follow this thread from beginning may recognize that we're, by no means, experts in this field; we created Sumokoin accidentally but with a purpose: an ultimately privacy-centric coin. Everything else is up to community judgement. Some feel ok with pseudonym, some not; some are ok with 10% premined (or unknown, yet-up-to 50% like Ethereum, probably 90% - 100% in some ICOs), others may only accept 5% or none. Unfortunately, we cannot please everyone. We also don't try to buy trust by all means, some principles will never change. Investment to any coin, even established one, is a very risky business. Nobody knows what would happen tomorrow, next year or next 5 years. So, if any doubt, pls don't buy the coin. Devs are not in rush, we have a long vision and commitment to Sumokoin and that's all we can give you guys right now.

[sumoshi]

Hello,

Thank you for the reply. You don't have to buy trust, you guys have got a really nice setup here, so this is what makes me have interest in this coin.
All I am asking now is what will happen exactly with the escrowed premined coins in 2020 will they all be released in one go? How do you protect yourself from being greedy? Could it not be setup in a way that the release of premined coins get's spread out over years later? If the premine is mainly to keep the project going there is no requirement for all the coins to be released in one go?

Many questions around the premined coins, most are valid ones, so I'll break them down:

1. All I am asking now is what will happen exactly with the escrowed premined coins in 2020 will they all be released in one go?

Though it'll be quite a long time to July 2020, devs did discuss about it. We want to keep less than 15% premined coins to total supply unless the market requires more (but I doubt), so it's much likely we'll have another escrowing round after all coins released.

2. How do you protect yourself from being greedy?

Hard question with no full satisfactory answer I think. We don't feel greedy now but you guys must always keep eyes on devs' actions and punish them when smelling sth wrong, that's a way to keep us from being too greedy.

3. Could it not be setup in a way that the release of premined coins get's spread out over years later?

Now, almost all premined coins are locked in blockchain, we cannot do anything with them, only when they are released we can do sth as said at (1) above.

4. If the premine is mainly to keep the project going there is no requirement for all the coins to be released in one go?

Not really sure what you mean. Until now, premined coins are mainly used as incentives for contributions, very small sums, but it can be sth to keep project from being abandoned if it requires full-time jobs of some devs in latter years. I think it'd always be better than nothing.

Thanks for your interests. At the end, I think if you doubt about 2020 release, you can always have option to sell all coins before that, right?

[jimmyvu]

Hi thx for reply,

I agree with many things in your post, so my comparison with the car salesman doesn't quite hold up.
I should have read a bit more about the coin before starting my rant.
I noticed also they have escrowed the premine until 2020 not sure exactly what that means, but I guess until that time those coins are not part or the market. I agree that it makes no sense to dump the coins in a healthy economy. But if they mentioned for instance the premined coins will slowly be released spread out over the next twenty years it would make me feel more comfortable.

So question I have now is will those 8.8 mill premined coins all be on the market in 2020 or only proportions of it, are all the escrowed wallets aimed to be released in 2020

So let's say one coin becomes worth more than a few dollars... the return on that premine would be phenomenal? Even after 3 years. What protects us against them pulling all that money out?

i dont think this guy will invest anything but keep trolling, you can effectively ignore him. your f*cking questions are all answered and you changed questions once again

the wallets are escrowed and im not sure if you are too stupid to see exact numbers at each release stages. devs can use premined coins on whatever they want. if they try to play pump & dump they will be punished by market (or not?) and what you can do is to wait and see what happen.

if you dont trust devs, dont buy coins. if you are clever enough, just fork this coin and do wtf you want: no premined coins, revealing your identity to this f*cking world, ok?

[oudekaas]

Hi,

Thx again for the answers, I just want to get to know this coin better and devs behind it so all I am doing is asking questions that new joiners might have as well. Plus as you may understand from some of  my questions I  clearly am still on a learning curve.

The devs answers make sense to me and sofar I am impressed with what I see and read of you guys.

Not sure why some people find it necessary to react with aggression to what I view as being normal questions? Why would I be trolling I have no incentive for that? Stop messing with my zen.

So here goes, maybe I can change some of your negative thoughts on me:

I just bought a good amount of sumo and decided that this coin on the surface looks like it is worth an investment. Albeit a risky one, but at least most of my questions were answered to a degree that I now feel better about my decision.

I am doing a study in computer science at Open Uni (1st year) and like to learn more bout crypto's in general so I would love to help you out in any way I can.... if I can ofcourse.

Could  join the slack channel? How do I require the emailaddress?

Hello,

Thank you for the reply. You don't have to buy trust, you guys have got a really nice setup here, so this is what makes me have interest in this coin.
All I am asking now is what will happen exactly with the escrowed premined coins in 2020 will they all be released in one go? How do you protect yourself from being greedy? Could it not be setup in a way that the release of premined coins get's spread out over years later? If the premine is mainly to keep the project going there is no requirement for all the coins to be released in one go?

Many questions around the premined coins, most are valid ones, so I'll break them down:

1. All I am asking now is what will happen exactly with the escrowed premined coins in 2020 will they all be released in one go?

Though it'll be quite a long time to July 2020, devs did discuss about it. We want to keep less than 15% premined coins to total supply unless the market requires more (but I doubt), so it's much likely we'll have another escrowing round after all coins released.

2. How do you protect yourself from being greedy?

Hard question with no full satisfactory answer I think. We don't feel greedy now but you guys must always keep eyes on devs' actions and punish them when smelling sth wrong, that's a way to keep us from being too greedy.

3. Could it not be setup in a way that the release of premined coins get's spread out over years later?

Now, almost all premined coins are locked in blockchain, we cannot do anything with them, only when they are released we can do sth as said at (1) above.

4. If the premine is mainly to keep the project going there is no requirement for all the coins to be released in one go?

Not really sure what you mean. Until now, premined coins are mainly used as incentives for contributions, very small sums, but it can be sth to keep project from being abandoned if it requires full-time jobs of some devs in latter years. I think it'd always be better than nothing.

Thanks for your interests. At the end, I think if you doubt about 2020 release, you can always have option to sell all coins before that, right?

[Nippel66]

Is this scam or something?
Still i can`t find a wallet.
And how to sell off my minted coin?
This is really bad

[oudekaas]

Hello nippel,

A gui wallet is still in the making, devs are working hard on it.
You can sell coins at cryptopia but I suggest you hold on to them whilst sumo will be added to Bittrex.

I believe there is ankther way to create a wallet, but I don't know how. Just read the 40 pages and you will understand the devs are solid, I had the same questions initially.

[Nippel66]

Hello nippel,

A gui wallet is still in the making, devs are working hard on it.
You can sell coins at cryptopia but I suggest you hold on to them whilst sumo will be added to Bittrex.

I believe there is ankther way to create a wallet, but I don't know how. Just read the 40 pages and you will understand the devs are solid, I had the same questions initially.

Ok i see
Yess Bittrex could be bigg. Do you mine also?
Yess i hope so, couse this is comfusing.

[RomanV]

Any news on the exchange?

[Hunterwolfie]

Bittrex does not add anonymous devs.

They require a full doxx.