🔥🔥🔥 [ANN][ICO] BITFENCE - REMOVE HACKERS FROM YOUR NETWORK

[Darkoth89]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income

So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.

it's not if they hack the BitFence network, it's if they hack YOURS, and your honeypot reports the hackers signature back to the network.  You also get paid for your honeypots uptime.

[Owillz]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income

So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

I guess you mean "HNY" token (just so that no one will be confused about your post) and secondly, as per the mining, it makes sense since the whole idea is to fish out hackers. But I am not so sure if the reporting of hackers is automated or manual.

[Nathan01]

Can AI protect us from hackers? Why do we need AI? Very interesting and useful article:

https://medium.com/@bitfence/bitfence-can-ai-protect-us-from-hackers-4855efc75908

Bitfence are really doing great in the aspect if writing articles that explains why they are doing what they are doing. This article for example just taught me the importance of a.i in detecting and preventing attacks. Nice one again from Bitfence.

BTW is an mvp out or any plans for it to be released any time soon? I have seen the images of the hardware planned in twitter. I think the software is the more important bit and if any plans to see an mvp of it?

There's a testnet with the stingminer running on it currently, im not sure if it's public yet.

I wasn't aware of that. Who is using the stingminer on the testnet any idea? I know you said you are not sure if it is for the public, any idea who is currently testing it or it just in-house?

It should be in-house, since it's not for public view yet, they are not yet with results but we are looking at getting one in no time, so we could have a relatable view as to how things are currently being run with the device

[faulerwilli]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income

So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.

it's not if they hack the BitFence network, it's if they hack YOURS, and your honeypot reports the hackers signature back to the network.  You also get paid for your honeypots uptime.

yes, it's easy, you buy a stingminer, connect it correctly and you're off. The longer the miner is online, the more reward there is.
I think this will be the easiest mining method I know so far

[Ace44]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

That's the part that i have been wanting to hear, by that, i mean the validation process because i once stated that it doesn't seem to make sense if there is no validation involved, as mischievous users can manipulate the process to their will but now that i see that there is a process involved, i'm relieved, good to know

[rathaha10]

The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.

As you say i also think that they could extend Stage 1 a little bit further so they can still reach that 2000 ETH cap and then continue with Stage 2.

Might be, but I don't think so they need to extend stage 1 till reach goal. Because see now they said 1114.79 ETH raised. As they said "Discount linearly drops on 0% on Jun 30". means they have enough time to reach their goals.

Even if the stage 1 goal isn't reach the wise move will be to continue with sarge 2 rather than extending stage1 sales.

This is logical thinking, if they even can't complete a Stage then it would be the best to extend the Stage at least. Why continue to Stage 2 instead ?

[Dron Pelya]

Here is my review of BitFence project in russian language https://golos.io/bitfence/@dronpelya/obzor-ico-bitfence-zashita-ot-kiberprestupnosti
Maybe it will be interesting for someone.

[lxmaster]

Do you have a bounty?

[Gunny95]

Do you have a bounty?

Hello, yes there is a bounty active by BitFence, more information can be found here: https://bitcointalk.org/index.php?topic=3270642.0

[faulerwilli]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

That's the part that i have been wanting to hear, by that, i mean the validation process because i once stated that it doesn't seem to make sense if there is no validation involved, as mischievous users can manipulate the process to their will but now that i see that there is a process involved, i'm relieved, good to know

I am sure that behind the whole validation a sophisticated mechanism is running. They finally want to catch hackers and not fool around with any script kiddies:-)
And any attempt at manipulation will certainly be detected and the cheater must then expect consequences

[Petehr]

This is a nice and wonderful project. It's a cutting edge idea and a great investment!

[ethtrader16]

The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.

I think problem is with the gap between softcap and hardcap. People might be thinking , Ifroject can start with small amount then why they need this big money.
In my opinion, BitFence should change this hardcap.

Well, I think it's a good thing - soft cap is nice and low so the project will go ahead no matter what; shows they have a good ambition. I'm not fussed about the big hard cap, the more money they have the easier it will be to deploy and get the project to the next stage

Yeah Bitfence's hard cap in USD is $50,000,000 this is a very high figure and it is a lot higher than the soft cap of $3,000,000.

It's nice to have big goals but I think the team needs to be realistic, I would revise the hard cap total and maybe lower it to a more achievable figure.

If they said goal is 2000 ETH then how they will calculate this softcap amount. Because of ETH price is not a stable. Today it is hit low 575. Then how they will decide it their 3,000,000 amount USD?

[ibininja]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income

So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.

I think it is also convenient that the miner can run in a commodity hardware like PI and you can separate the mining from the protection; well after all the protection is constantly updated by the mining nodes.

[gee777]

The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.

I think problem is with the gap between softcap and hardcap. People might be thinking , Ifroject can start with small amount then why they need this big money.
In my opinion, BitFence should change this hardcap.

Well, I think it's a good thing - soft cap is nice and low so the project will go ahead no matter what; shows they have a good ambition. I'm not fussed about the big hard cap, the more money they have the easier it will be to deploy and get the project to the next stage

Yeah Bitfence's hard cap in USD is $50,000,000 this is a very high figure and it is a lot higher than the soft cap of $3,000,000.

It's nice to have big goals but I think the team needs to be realistic, I would revise the hard cap total and maybe lower it to a more achievable figure.

If they said goal is 2000 ETH then how they will calculate this softcap amount. Because of ETH price is not a stable. Today it is hit low 575. Then how they will decide it their 3,000,000 amount USD?

I agree with you, i think they should just stick to the hardcap based on  ethet or rather use a fixed eth value to calculate the hardcap.

[Owillz]

The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.

I think problem is with the gap between softcap and hardcap. People might be thinking , Ifroject can start with small amount then why they need this big money.
In my opinion, BitFence should change this hardcap.

Well, I think it's a good thing - soft cap is nice and low so the project will go ahead no matter what; shows they have a good ambition. I'm not fussed about the big hard cap, the more money they have the easier it will be to deploy and get the project to the next stage

Yeah Bitfence's hard cap in USD is $50,000,000 this is a very high figure and it is a lot higher than the soft cap of $3,000,000.

It's nice to have big goals but I think the team needs to be realistic, I would revise the hard cap total and maybe lower it to a more achievable figure.

If they said goal is 2000 ETH then how they will calculate this softcap amount. Because of ETH price is not a stable. Today it is hit low 575. Then how they will decide it their 3,000,000 amount USD?

I agree with you, i think they should just stick to the hardcap based on  ethet or rather use a fixed eth value to calculate the hardcap.

I think they must have made their estimates based on a lower ETH price so that even the fluctuations in price will not affect them. Just my thought though. I Mean some other projects do similar statement of hardcap on ETH and they survive. So there must be a way round it.

[Ace44]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income

So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.

Good a thing that the concept is been introduced in the blockchain industry, its highly needed, as the malicious attack of hackers is like an everyday news, the industry is porous and needs to be tightened up in terms of security and if bitfence can deliver their concept as stated, then i have no doubt that they will do well in exchanges

[jamzzz123]

This is a nice and wonderful project. It's a cutting edge idea and a great investment!

It's a great project with some innovative ideas, I haven't seen many IT Security projects like BitFence which is why I think the project could grow massively.


Check out this ICO review here to learn more about the project
https://icobench.com/ico/bitfence/ratings

[ibininja]

From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income

So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.

Good a thing that the concept is been introduced in the blockchain industry, its highly needed, as the malicious attack of hackers is like an everyday news, the industry is porous and needs to be tightened up in terms of security and if bitfence can deliver their concept as stated, then i have no doubt that they will do well in exchanges

There are many areas where the token would get a boost. They plan to release hardware with stingminer so you will be able to buy for example a router with the protection software embedded. This could very well be a decent source of revenue however it may require a huge upfront cost to setup support locations.

[ctrades31]

This is a nice and wonderful project. It's a cutting edge idea and a great investment!

It's a great project with some innovative ideas, I haven't seen many IT Security projects like BitFence which is why I think the project could grow massively.


Check out this ICO review here to learn more about the project
https://icobench.com/ico/bitfence/ratings

Yeap, Bitfence is deserve for this rating. Everywhere is 5.0 but why profile rating 4.3 only? That bitfence have to do something for 100% good rating.

[ethtrader16]

The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.

I think problem is with the gap between softcap and hardcap. People might be thinking , Ifroject can start with small amount then why they need this big money.
In my opinion, BitFence should change this hardcap.

Well, I think it's a good thing - soft cap is nice and low so the project will go ahead no matter what; shows they have a good ambition. I'm not fussed about the big hard cap, the more money they have the easier it will be to deploy and get the project to the next stage

Yeah Bitfence's hard cap in USD is $50,000,000 this is a very high figure and it is a lot higher than the soft cap of $3,000,000.

It's nice to have big goals but I think the team needs to be realistic, I would revise the hard cap total and maybe lower it to a more achievable figure.

If they said goal is 2000 ETH then how they will calculate this softcap amount. Because of ETH price is not a stable. Today it is hit low 575. Then how they will decide it their 3,000,000 amount USD?

I agree with you, i think they should just stick to the hardcap based on  ethet or rather use a fixed eth value to calculate the hardcap.

I think they must have made their estimates based on a lower ETH price so that even the fluctuations in price will not affect them. Just my thought though. I Mean some other projects do similar statement of hardcap on ETH and they survive. So there must be a way round it.

Agree. But how estimated price. I mean if $ 3,000,000 they need for soft cap as we know ETH continuously falling then how they will reach their target? I mean if ETH hit again 500$ then how they will calculate amount with 2000 ETH goals?