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

[Darkoth89]

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?

Those types of questions are probably better aimed at the team then speculation on the ANN. It might be worth asking in Telegram.

[nesh1]

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

The ratings are very good i always look at reviews from experts and i saw that 2 experts have reviewed Bitfence with very high ratings.

[faulerwilli]

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?

I was already irritated from the beginning that they specify soft- and hardcap in Fiat, but everywhere else only ETH specify. We should really discuss this once in the telegram channel with the devs

[phantam]

It’s the issue at the moment with crypto companies need fiat values to succeed and buy product etc and pay employees in most cases but since it’s the crypto industry investments are in crypto so it’s.a balancing game until crypto is more widely accepted for day to day operations

[rathaha10]

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

The ratings are very good i always look at reviews from experts and i saw that 2 experts have reviewed Bitfence with very high ratings.

Most of the people always look for the ratings before investing in a ICO. That is smart, because most of the time if it is reviewed by experts then it could be a good ICO. Remember to also rate it for yourself.

[2taps]

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

The ratings are very good i always look at reviews from experts and i saw that 2 experts have reviewed Bitfence with very high ratings.

Most of the people always look for the ratings before investing in a ICO. That is smart, because most of the time if it is reviewed by experts then it could be a good ICO. Remember to also rate it for yourself.

Yeah i think that because of these good ratings many people will have interest in this project and have a look at it. This way the popularity of Bitfence will increase a lot.

[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

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.

Its indeed another viable source of revenue, talking about costs, some are willing to pay for such and coming from a team of tech experts, it will be good to source via that avenue, that's the major reason why bitfence has to deliver something good based on the fact that is not just a virtual thing but more of a physical thing

[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

The ratings are very good i always look at reviews from experts and i saw that 2 experts have reviewed Bitfence with very high ratings.

Most of the people always look for the ratings before investing in a ICO. That is smart, because most of the time if it is reviewed by experts then it could be a good ICO. Remember to also rate it for yourself.

Yeah i think that because of these good ratings many people will have interest in this project and have a look at it. This way the popularity of Bitfence will increase a lot.

It's great to see Bitfence is highly rated from IcoBench and if you have a google around you will see it's not the only ICO reviewer which has this positive review. Great to see Bitfence is getting recognized

[gee777]

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

The ratings are very good i always look at reviews from experts and i saw that 2 experts have reviewed Bitfence with very high ratings.

Most of the people always look for the ratings before investing in a ICO. That is smart, because most of the time if it is reviewed by experts then it could be a good ICO. Remember to also rate it for yourself.

The ratings are ok. If they are coming from ico bench, ico bench is one of the most popular and respected ico rating site..

[Nathan01]

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.

I generally do not mine nor am I comfortable with it though but owing the way the mining operation of Bitfence has been structured and with the fact that energy consumption will be minimal, this is where I do love to start mining

[Darkoth89]

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?

I was already irritated from the beginning that they specify soft- and hardcap in Fiat, but everywhere else only ETH specify. We should really discuss this once in the telegram channel with the devs

I believe they have the price of ETH pegged to 1 ETH = $600 USD hence why it is still 1 ETH = 6000 HNY tokens.

[iphy6013]

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.

I generally do not mine nor am I comfortable with it though but owing the way the mining operation of Bitfence has been structured and with the fact that energy consumption will be minimal, this is where I do love to start mining

BitFence mining system is totally different from the once I've encountered. It basically doesn't need much from you, all you've got to do is to join Bitfence network with your honeypot in place and once a hacker comes knocking you share this threat and you're done.

[cryptossi]

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?

I found the Bitfence USD Hard cap on here: https://foundico.com/ico/bitfence.html

Most soft caps/hard caps are set in dollars, this is because it makes it easier for investors to interpret.

[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.

I generally do not mine nor am I comfortable with it though but owing the way the mining operation of Bitfence has been structured and with the fact that energy consumption will be minimal, this is where I do love to start mining

BitFence mining system is totally different from the once I've encountered. It basically doesn't need much from you, all you've got to do is to join Bitfence network with your honeypot in place and once a hacker comes knocking you share this threat and you're done.

Yeah, I feel like the word 'mining' might have been an oversight from the marketing/dev team, it seems to be causing alot of confusion.  Perhaps something like 'staking' or 'forging' would have been a better choice, as essentially the StingMiner functions much like a Masternode. It sits in your network and you get paid for uptime, and fingerprints of hackers successfully reported back to the network, there is no block solving going on, so it is the typical mining everyone expects.

[Gunny95]

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?

I was already irritated from the beginning that they specify soft- and hardcap in Fiat, but everywhere else only ETH specify. We should really discuss this once in the telegram channel with the devs

I believe they have the price of ETH pegged to 1 ETH = $600 USD hence why it is still 1 ETH = 6000 HNY tokens.

So this basically means that the HNY tokens are pegged to USD? since the rate ETH/USD seems preconfigured

[Owillz]

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.

Even as it stands now, they are still having a good rate when compared to some other projects. Even though 100% is better but this is still good.

[cryptossi]

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.

I generally do not mine nor am I comfortable with it though but owing the way the mining operation of Bitfence has been structured and with the fact that energy consumption will be minimal, this is where I do love to start mining

BitFence mining system is totally different from the once I've encountered. It basically doesn't need much from you, all you've got to do is to join Bitfence network with your honeypot in place and once a hacker comes knocking you share this threat and you're done.

Yeah, I feel like the word 'mining' might have been an oversight from the marketing/dev team, it seems to be causing alot of confusion.  Perhaps something like 'staking' or 'forging' would have been a better choice, as essentially the StingMiner functions much like a Masternode. It sits in your network and you get paid for uptime, and fingerprints of hackers successfully reported back to the network, there is no block solving going on, so it is the typical mining everyone expects.

I think so too or it could have been a strategic decision, as soon as people see they can buy a RPI for $35 and 'mine' $HNY tokens then it will attract a lot of attention. Could you call it Proof of Hack/PoH? That would of been quite a good slogan to use for marketing/promo 'first project using PoH algo'.

[nesh1]

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.

Even as it stands now, they are still having a good rate when compared to some other projects. Even though 100% is better but this is still good.

Something can never be 100% usually it would be a scam then but Bitfence has honest experts rating and it is still very high.

[RyCriptoC]

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

Thanks for sharing the article. BitFence uses AI to identify and risk score cyber threats, AI can protect us from hackers.

[Anilbg]

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?

I found the Bitfence USD Hard cap on here: https://foundico.com/ico/bitfence.html

Most soft caps/hard caps are set in dollars, this is because it makes it easier for investors to interpret.

Thanks for sharing the link. I was also confused about the softcap amount as I was thinking its only mentioned in ETH and not in USD.