Aero - The Currency of Tomorrow

[singula]

And on 6th the dev won't post anything, because he got sick and is in hospital, so please wait one more week and after week just announce "Sorry, our dev was eaten by a flying big shark when he was sunbathing, so we have to hire a new dev to invent the stuff again, and BTW we need more money for that, so please send in more BTC, we have really great ideas!"

[Protato]

I just love how they claim they launched several alts but don't name them, nor associate their main account(s?) to this to give people confidence.
I see big plays for these so called second gen alts.

[decrypter]

A fool and his money are soon parted.

Its called the currency of tomorrow, because tomorrow they will have your $ and you will have nothing. 

[#R#a#u#t#e#]

Scam

+1

Even if not, there is "There will be no software required, the entire network will be stored in our quick access online servers"
part which means centralized shit all over again. At any point they might close accounts, deny transaction, just steal cash.

Whoever send them money is using the wrong forum. Please move to PayPal forum or, even better, ask for medical help, thx.

+1



SCAM!

[ruletheworld]

Can you tell us a little more about your team? Also, you mentioned you're hiring for a lot of positions - does this mean you already have the money or do you plan to raise money through your "IPO"?

[sva_h4cky0]

oh my gox....... someone please stop all this ipo bullshit 

[Aerocoin]

Can you tell us a little more about your team? Also, you mentioned you're hiring for a lot of positions - does this mean you already have the money or do you plan to raise money through your "IPO"?

1) We have 30BTC in funding's for this project, and that came from a single source.

2) The IPO is merely an investment, not used in any shape or form to fund the project. Once live, the BTC will be merged into Aero and will be used for promotional and PR purposes.

2.5) Aero currently has 12.43.. Btc through private and public investments.

3) As for the team, they will be on this thread shortly. January 6th. I answered most questions being asked, Check the bottom F.A.Q. Section.

[gcolbourn]

IPO Investments - 12.22535272 BTC

I can only see 0.5 BTC here - https://blockchain.info/address/1ESnSft95kAyTgiYxwPSbAaPYnPPzq66LZ (and that doesn't have a message attached) Where is the rest? 1ESnSft95kAyTgiYxwPSbAaPYnPPzq66LZ is the address to send to for IPO investments, right?

[baishishi]

blockchain display receives the first time sponsored Posts Published earlier than IPO？

The first time : 2014-01-04 22:40:34
https://blockchain.info/address/1ESnSft95kAyTgiYxwPSbAaPYnPPzq66LZ

This post Published: January 05, 2014, 06:21:18 AM

 

[Aerocoin]

IPO Investments - 12.22535272 BTC

I can only see 0.5 BTC here - https://blockchain.info/address/1ESnSft95kAyTgiYxwPSbAaPYnPPzq66LZ (and that doesn't have a message attached) Where is the rest? 1ESnSft95kAyTgiYxwPSbAaPYnPPzq66LZ is the address to send to for IPO investments, right?

Yes it is

We have 2 other address accounts, where the coins are being held. one for 3 private Investors and The first 5 on bitcointalk that got our IPO bonuses.
The 12.2253272 is pertaining to our intital IPO on these forums.

Tomorrow is the big reveal for Aero, so you could just wait to then to invest.

[hypostatization]

Interest - You can't mine Aero, but you will gain % interest on the number of Aeros you sent. Think Bank of America Cash back program*

Tax - To reducing hoarding, there will be a taxation on currency sitting within wallets, this will then be redistributed as an interest % for the interest on transactions.
  There will be a Tax bracket, similar to how an economy functions, i'm not ready to reveal the logistics and %s.

NOTE : This tax is an insignificant number. If you make a transaction, within X amount of months, you will not be taxed. This is also based on income size.


Transactions and Block-chains - When you log into Aero, you are connected to all the block-chains and database of every transaction immediately. Your wallet will be used a resource to help secure and process transactions. (more soon)

Are there any protections against users creating multiple wallets and sending transactions back and forth between them in order to earn interest?

[Aerocoin]

Interest - You can't mine Aero, but you will gain % interest on the number of Aeros you sent. Think Bank of America Cash back program*

Tax - To reducing hoarding, there will be a taxation on currency sitting within wallets, this will then be redistributed as an interest % for the interest on transactions.
  There will be a Tax bracket, similar to how an economy functions, i'm not ready to reveal the logistics and %s.

NOTE : This tax is an insignificant number. If you make a transaction, within X amount of months, you will not be taxed. This is also based on income size.


Transactions and Block-chains - When you log into Aero, you are connected to all the block-chains and database of every transaction immediately. Your wallet will be used a resource to help secure and process transactions. (more soon)

Are there any protections against users creating multiple wallets and sending transactions back and forth between them in order to earn interest?

There are a few measures to protect against this scenario.

The more transactions you make, in a real-world scenario the better the system is to recognize a legitimate transaction and award a higher %. There will be a Tier system, in which your account will be scored on. I believe the tiers go all the way up to 5.

Let's say, you and a friend want to make several transactions and collect interest for each other. So you send each others accounts balances back and forth to try to generate the interest. Well, you will only collect interest on 1 transaction in a 72 hour period to X account.

If this happens every 72 hours, the system will recognize a falsified transaction and not award any interest. This will help protect against companies generating interest on every transaction, while paying employees. Just an example.

In general:
You will not be able to collect interest on more than 3 transactions, totaling 10,000 Aero in a 24 hour period. You can make 1 transaction for 30,000 aero and collect a larger percent interest or several small transactions. None the less, the interest is insignificant.  

This is for a tier 1 account (which i'll discuss later)

a Second countermeasure is where the transaction is coming from. We can screen for proxies and IP addresses, since this is an online built system (The easiest check)

I believe there are about 8 other checks in order to gain an interest or Taxation. I've glimpsed at the code and it's intriguing.


This is a small sample of the countermeasures of the system. When we fully reveal interest and taxation, we hope most people will be very pleased on they way we proceed about it.


Let me clarify anything, keep asking questions if you have any.

[hypostatization]

Are there any protections against users creating multiple wallets and sending transactions back and forth between them in order to earn interest?

There are a few measures to protect against this scenario.

I appreciate the response.

The more transactions you make, in a real-world scenario the better the system is to recognize a legitimate transaction and award a higher %. There will be a Tier system, in which your account will be scored on. I believe the tiers go all the way up to 5.

Let's say, you and a friend want to make several transactions and collect interest for each other. So you send schoolteacher's balance back and forth to try to generate. Well, you will only collect interest on 1 transaction in a 72 hour period to X account.

In general:
You will not be able to collect interest on more than 3 transactions, totaling 10,000 Aero in a 24 hour period. You can make 1 transaction for 30,000 aero and collect a larger percent interest or several small transactions. None the less, the interest is insignificant. 

This is for a tier 1 account (which i'll discuss later)

Are users able to create 4 accounts to use for daily full balance transfers in order to circumvent this protection?

Assuming an API is available, it seems this would be trivial to dodge the tax system and earn interest.

a Second countermeasure is where the transaction is coming from. We can screen for proxies and IP addresses, since this is an online built system (The easiest check)

Is this database and validation system distributed or centrally controlled?

How can users address false positives?

I believe there are about 8 other checks in order to gain an interest or Taxation. I've glimpsed at the code and it's intriguing.

This is a small sample of the countermeasures of the system. When we fully reveal interest and taxation, we hope most people will be very pleased on they way we proceed about it.

Listing all countermeasures as soon as possible, as well as their method of implementation, will be in this project's best long term interest. Until those are communicated and digested by the community, my biggest fear is that there may be a large conceptual flaw that makes it trivially easy to gain the system.

Let me clarify anything, keep asking questions if you have any.

Could you please provide example criteria for the different tiers?

[Aerocoin]

Are there any protections against users creating multiple wallets and sending transactions back and forth between them in order to earn interest?

There are a few measures to protect against this scenario.

I appreciate the response.

The more transactions you make, in a real-world scenario the better the system is to recognize a legitimate transaction and award a higher %. There will be a Tier system, in which your account will be scored on. I believe the tiers go all the way up to 5.

Let's say, you and a friend want to make several transactions and collect interest for each other. So you send schoolteacher's balance back and forth to try to generate. Well, you will only collect interest on 1 transaction in a 72 hour period to X account.

In general:
You will not be able to collect interest on more than 3 transactions, totaling 10,000 Aero in a 24 hour period. You can make 1 transaction for 30,000 aero and collect a larger percent interest or several small transactions. None the less, the interest is insignificant.  

This is for a tier 1 account (which i'll discuss later)

Are users able to create 4 accounts to use for daily full balance transfers in order to circumvent this protection?

Assuming an API is available, it seems this would be trivial to dodge the tax system and earn interest.

a Second countermeasure is where the transaction is coming from. We can screen for proxies and IP addresses, since this is an online built system (The easiest check)

Is this database and validation system distributed or centrally controlled?

How can users address false positives?

I believe there are about 8 other checks in order to gain an interest or Taxation. I've glimpsed at the code and it's intriguing.

This is a small sample of the countermeasures of the system. When we fully reveal interest and taxation, we hope most people will be very pleased on they way we proceed about it.

Listing all countermeasures as soon as possible, as well as their method of implementation, will be in this project's best long term interest. Until those are communicated and digested by the community, my biggest fear is that there may be a large conceptual flaw that makes it trivially easy to gain the system.

Let me clarify anything, keep asking questions if you have any.

Could you please provide example criteria for the different tiers?

1) No, each transaction is tracked. Assuming the full balance is sent. If X sends to Y an interest is gained for X. If Y tries to send to Z, No interest is gained until 3600 confirmations occur for Y. That could take up to 3 days. If Y then sends to Z after the confirmations Y gains an interest. If Z tries to send that initial balance from X to A. The confirmations is doubled. Now, this is assuming that the full balance is trying to be sent. It will gradually scale to the amount sent from each transaction, a low transaction will require less confirmations to generate an interest.

2) Distributed, Like the NXT client. Each user may login and confirm transactions to gain an interest. The interest gained from protecting the system via your wallet will generate you an interest.

3) Absolutely. Security has always been the major focus for Aero. We have built the system from scratch and are consistently adding new security measures. When in Alpha, we will get a greater understanding on where we stand with this. Without testing on a large base, there is no proof any measure works correctly or as intended.

4) I can't go into a full in-depth details, because this is beyond what i'm suppose to reveal.

Tiers are based on several factors. The major is account age and number of legitimate transactions (Getting Aeros to flow through the network)

Tier 1 - Is the default for every brand new account. And will generate minimal interest, with the highest taxation.

Tier 2 - After 90 Days occur and or 20 transactions occur, you will be bumped into tier 2.

and so on so forth. With every tier you are awarded account bonuses and will have more flexibility with your wallet.

Again i can't go into full details, I can only explain just what it is.

[hypostatization]

Great info, thanks!

1) No, each transaction is tracked. Assuming the full balance is sent. If X sends to Y an interest is gained for X. If Y tries to send to Z, No interest is gained until 3600 confirmations occur for Y. That could take up to 3 days. If Y then sends to Z after the confirmations Y gains an interest. If Z tries to send that initial balance from X to A. The confirmations is doubled. Now, this is assuming that the full balance is trying to be sent. It will gradually scale to the amount sent from each transaction, a low transaction will require less confirmations to generate an interest.

I look forward to hearing more, but still clear lack understanding of how this system will not be vulnerable to users creating many wallets and transferring money between them in a systematic way. It seems users may just need many wallets and carefully timed automated transfers to abuse the system?

[Aerocoin]

Once you show me some proof that this exists, i'll invest. It's a very attractive project.

But for now, it's a scam in my eyes. Vero, Aero is the Visa coin guy

We have no affiliation with Visa, Vero or any other currency claiming to be "2nd generation."

Great info, thanks!

1) No, each transaction is tracked. Assuming the full balance is sent. If X sends to Y an interest is gained for X. If Y tries to send to Z, No interest is gained until 3600 confirmations occur for Y. That could take up to 3 days. If Y then sends to Z after the confirmations Y gains an interest. If Z tries to send that initial balance from X to A. The confirmations is doubled. Now, this is assuming that the full balance is trying to be sent. It will gradually scale to the amount sent from each transaction, a low transaction will require less confirmations to generate an interest.

I look forward to hearing more, but still clear lack understanding of how this system will not be vulnerable to users creating many wallets and transferring money between them in a systematic way. It seems users may just need many wallets and carefully timed automated transfers to abuse the system?

The interest becomes more insignificant the more Aero's you have. I'll let the devs explain it in explicit detail when they are ready to fully reveal it.