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Author Topic: [BCN] Bytecoin. Secure, private, untraceable since 2012  (Read 1035666 times)
Rytir_fik
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April 10, 2015, 09:44:34 AM
 #4341

 Roll Eyes now it it 82%? If I remember well it was 80% half a year ago.... What it will be in next half year? .... 85%?
It is not necessary to write here the same and same messages each half year when BCN DEVs make some progress and the rest of coins are again step behind.  Wink

Can I have the negative Trust as WELL?  Grin

I like Bytecoin (BCN). BYTECOIN.ORG the best to mine with MinerGate
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April 10, 2015, 09:50:00 AM
 #4342

bytecoin devs don't look like a crazy people. how stupid should they be to kill the coin by flooding the market with all the coins you claim they have after they put a lot of effort to it. I read their blog and messages and an interview. they don't sound like dumb people. What will they do with 82%?!

Maybe it's an NSA honeypot to trap dark market users and terrorists. They want to hold on to their 82% so they can deanonymize everyone who thinks they are actually anonymous.
It's a good plan.

bytecoin devs don't look like a crazy people. how stupid should they be to kill the coin by flooding the market with all the coins you claim they have after they put a lot of effort to it. I read their blog and messages and an interview. they don't sound like dumb people. What will they do with 82%?!

Maybe it's an NSA honeypot to trap dark market users and terrorists. They want to hold on to their 82% so they can deanonymize everyone who thinks they are actually anonymous.

Are you sure those 82% coins can be used to trace any other transactions?
Mathematically speaking, It's possible with a high probability to do it. So, yes, it's possible.

This applies to any cryptonote coin and since it's impossible to know who owns coins and in what amount, this seems to be a major drawback for all the cryptonote coins.

And let me say that Monero, Dashcoin, and the like are also affected. Yes, you can say that Monero has a more fair distribution but in the end you can't demonstrate the distribution of these coins so you end up with the same trust problem.

Let's keep calm and learn more about it. Wink

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April 10, 2015, 09:52:53 AM
 #4343

Bytecoin is a shitcoin and a scam. Just as bad as PayCoin. Was Homero part of the Bytecoin scam?

Monero was not part of this. Please read the thread I posted above it covers these issues.

I know it wasn't. Monero happens to be backed by trust.

Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 25 btc per week.
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April 10, 2015, 10:03:28 AM
Last edit: April 10, 2015, 12:57:08 PM by smooth
 #4344

That 'evidence' is bullshit. I was around and I verified the original claims of rethink-your-strategy (as did others) before content on web sites started getting changed to support "alternative explanations" (euphemism for obfuscation, denial, and doubling down on the fraud).

Anyone should read the thread and arrive at his own conclusion. While there was problem with CN whitepaper, the version on Bytecoin website was ok. You did not check it sticking to the text of OP only. That's the story, not what you're trying to tell here.

What I'm saying is that when the original report by rethink-your-strategy was posted, I looked at everything because as you well know the whole BCN "mystery" was something that interested me at the time. I downloaded the white papers, looked at their dates, signatures, etc., checked web source for the CSS reset, etc. Everything checked out just as it was reported. Then, conveniently, things started to change. New versions of the white paper were "found" on the deep web (much like BCN was supposedly "found" don't you think?). Web sites were edited to remove the CSS reset code, etc. Reports were being posted to refute or question the original research by accounts that were very clearly shill accounts (act now) or very likely purchased (or possibly just affiliated with BCN) hero accounts (bitcoinbear).

Unfortunately, it is no longer possible for people to "read the thread and arrive at his own conclusion", at least not with the same degree of confidence one could at the time, because once that thread was created, evidence started being altered and hidden. If you weren't around at the time yourself and able to check things, you can only rely on people who were, and I'm certainly not the only one who was there and saw what happened. In fact you were too.

EDIT: after discussion in PM I removed the negative trust rating on Rias. I don't know whether he is actively supporting the scam or just confused/open-minded. Since I don't know I won't judge.
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April 11, 2015, 12:31:06 AM
 #4345

This is fucking annoying. If some random coin is a scam, do you really expect the scammers admitting this? Of course not. Paycoin is a scam and Josh Garza will never admit this, even if he'll go to jail. There a lot of scams over this forum, but how many of these admited they are just looking to scam?

The same goes to Bytecoin. The original devs will never admit they were just looking for a way to doing easy profit with their premine policy, cripped miner and the bullshit story about being hideen about 2 years on the darknet. So, why wasting time discussing this with people behind sockpuppet accounts? Do you really expect a confession? Or what?

OK, you can call this a scam. But instead of discussing the obvious, you can turn this into a useful scam. The technology behind it is unquestionably great and can provide a proof-of-concept. So, fork and do it better. And don't worry with people buying this coin. If they are buying a clearly scam coin, let them do this. Good luck for them, maybe they can do some profit, although improbable. Or maybe they deserve to be scammed. The history behind this is very well-documented here ( https://bitcointalk.org/index.php?topic=740112.0 ), so we don't need to go to every topic about this coin to do the same discurse, as anti-scam paladines.
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April 11, 2015, 12:52:04 AM
 #4346

But instead of discussing the obvious, you can turn this into a useful scam. The technology behind it is unquestionably great and can provide a proof-of-concept.  So, fork and do it better.

There is no "instead" that is a false dichotomy. Both forking and calling out has been done and continues to be done.

Quote
And don't worry with people buying this coin. If they are buying a clearly scam coin, let them do this. Good luck for them, maybe they can do some profit, although improbable. Or maybe they deserve to be scammed. The history behind this is very well-documented here ( https://bitcointalk.org/index.php?topic=740112.0 ), so we don't need to go to every topic about this coin to do the same discurse, as anti-scam paladines.

Sorry, I don't agree. Allowing it to spread without being challenged is part of what makes it happen. Or only challenged for a short time, and then, after some nachiog-imposed deadline, scammers who are persistent enough get a free pass. Same with Paycoin and every other scam.

A scam doesn't become not a scam just it is old and you find it "fucking annoying" to keep hearing about it. If you don't like it, sign off and ignore the scam (and the challenges to it).

Yes it sucks that people scam, but part of the problem with this environment is that honest people don't push back against it.

Things are changing though. Slowly, but they are. It's part of cryptocurrency reaching some minimum level of maturity.

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April 11, 2015, 01:37:22 AM
 #4347



There is no "instead" that is a false dichotomy. Both forking and calling out has been done and continues to be done.

Yeah, I know and really appreciate the work what was done about this.


Sorry, I don't agree. Allowing it to spread without being challenged is part of what makes it happen. Or only challenged for a short time, and then, after some nachiog-imposed deadline, scammers who are persistent enough get a free pass. Same with Paycoin and every other scam.

A scam doesn't become not a scam just it is old and you find it "fucking annoying" to keep hearing about it. If you don't like it, sign off and ignore the scam (and the challenges to it).

Yes it sucks that people scam, but part of the problem with this environment is that honest people don't push back against it.

The issue here is because this practice is damaging more the reputation of the honest coins than of the scams. A lot of people here have a bad opinion about Monero because its core team and Monero's fanboys/fangirls (sometimes with sockpuppet accounts) are going to "overcriticize" and importunate Dash, Bytecoin or even Bitcoin over this forum, and sometimes just to promote Monero.


Things are changing though. Slowly, but they are. It's part of cryptocurrency reaching some minimum level of maturity.



I'm not sure if we're going to mature. In my opinon, it seems the things are moving in the opposite direction.

Some time ago I saw a topic suggesting to kill the altcoin section of this forum. Although it sounds absurd, it makes some sense.  Unfortunately, people are abusing of this section. Also, I think a good altcoin should have its own community pages and forums, instead of (ab)using the Bitcoin's community infrastructure.
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April 11, 2015, 02:06:45 AM
 #4348



If this is a long con, they are certainly putting in a lot of effort. So far they have been public for a year and now have a long vision road map. No sign of a dump yet but the market isn't big enough if you want to make retirement money.

When does a long con turn into a business plan?

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April 11, 2015, 02:21:04 AM
Last edit: April 11, 2015, 06:50:08 AM by smooth
 #4349



If this is a long con, they are certainly putting in a lot of effort. So far they have been public for a year and now have a long vision road map. No sign of a dump yet but the market isn't big enough if you want to make retirement money.

When does a long con turn into a business plan?

They own roughly 80% (possibly more by now) of the coins and the market cap is around 4 million USD so theoretically -- on paper at least -- they've made 3.2 million USD on it. Obviously the more newbs can be pulled in the more they can cash out and/or pump that higher. Not a bad plan.

I doubt it taking a year to score was the plan from the start, but as long as there seems to be promise the numbers add up to continuing to try (see previous paragraph).
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April 11, 2015, 02:26:08 AM
 #4350

Quote
Sorry, I don't agree. Allowing it to spread without being challenged is part of what makes it happen. Or only challenged for a short time, and then, after some nachiog-imposed deadline, scammers who are persistent enough get a free pass. Same with Paycoin and every other scam.

A scam doesn't become not a scam just it is old and you find it "fucking annoying" to keep hearing about it. If you don't like it, sign off and ignore the scam (and the challenges to it).

Yes it sucks that people scam, but part of the problem with this environment is that honest people don't push back against it.

The issue here is because this practice is damaging more the reputation of the honest coins than of the scams. A lot of people here have a bad opinion about Monero because its core team and Monero's fanboys/fangirls (sometimes with sockpuppet accounts) are going to "overcriticize" and importunate Dash, Bytecoin or even Bitcoin over this forum, and sometimes just to promote Monero.

I guess you can't please everybody all the time.

Nevertheless, I will continue to speak out against and fight scams in every way I can, which includes encouraging other honest people to do the same.
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April 11, 2015, 03:25:16 AM
 #4351


I guess you can't please everybody all the time.

Nevertheless, I will continue to speak out against and fight scams in every way I can, which includes encouraging other honest people to do the same.


Anyway I'm curious to see what the future deserves to this coin.

With the current price (9 satoshi) and the current coin generation (48818.11), the rewards per block in BTC is just BTC0.00439363 per block, or around BTC0.02196815 each 10 minutes. Hashrate is around 1,6 million.

I don't understand much about mining, but how this can be sustainable against attacks on the network (also you have to consider this is not just about Bytecoin, but every CryptoNight coin with merged mining with BCN)? Just to compare, Monero hashrate is now about 16 million (10 times more) and generates around BTC 0.37 in mining rewards each 10 minutes (10.7868 XMR per block at 0.00340335 BTC per XMR, or 15 times more).
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April 11, 2015, 03:34:45 AM
 #4352


I guess you can't please everybody all the time.

Nevertheless, I will continue to speak out against and fight scams in every way I can, which includes encouraging other honest people to do the same.


Anyway I'm curious to see what the future deserves to this coin.

With the current price (9 satoshi) and the current coin generation (48818.11), the rewards per block in BTC is just BTC0.00439363 per block, or around BTC0.02196815 each 10 minutes. Hashrate is around 1,6 million.

This is indeed one of the practical problems with premined/instamined/fastmined coins. The mining rewards drop too fast (or just start out small) relative to adoption and then it isn't secure.

Quote
I don't understand much about mining, but how this can be sustainable against attacks on the network (also you have to consider this is not just about Bytecoin, but every CryptoNight coin with merged mining with BCN)? Just to compare, Monero hashrate is now about 16 million (10 times more) and generates around BTC 0.37 in mining rewards each 10 minutes (10.7868 XMR per block at 0.00340335 BTC per XMR, or 15 times more).

Few if any alts are really secure against hash rate attacks. And then, not even Bitcoin is if you consider that its enemies could be playing with billions of USD. Attacking it probably costs hundreds of millions.

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April 11, 2015, 03:44:01 AM
 #4353


This is indeed one of the practical problems with premined/instamined/fastmined coins. The mining rewards drop too fast (or just start out small) relative to adoption and then it isn't secure.

In this way, it should make some sense to launch a cripped miner, just to difficult other entities to execute this type of attack. But in this case, you need to trust in the original developers, and being totally unknown entities, this doesn't sound good. Also anyone can develop a better miner.


Few if any alts are really secure against hash rate attacks. And then, not even Bitcoin is if you consider that its enemies could be playing with billions of USD. Attacking it probably costs hundreds of millions.


Yeah, I have readed a paper about the cost of doing a 51% attack against Bitcoin, you need less than 200 million USD to execute this for one month (counting equipment and electricity costs).
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April 12, 2015, 02:43:32 PM
 #4354

I like cryptoNote coins, and i am a little confused because there are users saying that bytecoin did not existed before 2014 and the blockchain was faked, if so, how is it possible that exist forks before 2014?


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April 12, 2015, 05:15:30 PM
 #4355

I like cryptoNote coins, and i am a little confused because there are users saying that bytecoin did not existed before 2014 and the blockchain was faked, if so, how is it possible that exist forks before 2014?

Bytecoin claims to have launched on 2012, so far there is no irrefutable evidence of this but the timestamps on the blockchain itself, and this could have been easily faked with a relatively low amount of computing power since the diff was so low.

Since there is no real evidence, you are left trusting the devs in this.
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April 12, 2015, 06:45:29 PM
Last edit: April 12, 2015, 07:07:28 PM by nachoig
 #4356

I like cryptoNote coins, and i am a little confused because there are users saying that bytecoin did not existed before 2014 and the blockchain was faked, if so, how is it possible that exist forks before 2014?



Probably the existence of these coins (Paladincoin and Buddhacoin) are fake too. Maybe someone is creating these websites just to try to bring legimacy about the story behind the existence of Bytecoin since 2012.

I can't find information about Palladincoin because it's a .onion website and I don't have the Tor Browser and there's nothing at Google, but the case of Buddhacoin the website is here (I discovered through Map of Coins, how they discovered it, as well Paladincoin is a mystery): http://buddhacoin.pixub.com/

The lack of the source code in the download page (only binaries) and the way the news are posted are a red flag. BTW, there is another link from CryptoNote forum about Buddhacoin.
https://forum.cryptonote.org/viewtopic.php?f=5&t=582

Edit: if someone uses Tor and is interested to try to discover something about Paladincoin: http://xxvxqnbatbidn4tq.onion/
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April 12, 2015, 08:19:02 PM
 #4357

Edit: if someone uses Tor and is interested to try to discover something about Paladincoin: http://xxvxqnbatbidn4tq.onion/
It's an abandoned (no posts since 2013) WoW forum, so totally unrelated.

Also looking at http://web.archive.org/web/*/http://buddhacoin.pixub.com/ there is nothing older than this years April 4.

So probably more of the usual bullshit.
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April 12, 2015, 08:47:08 PM
 #4358

Edit: if someone uses Tor and is interested to try to discover something about Paladincoin: http://xxvxqnbatbidn4tq.onion/
It's an abandoned (no posts since 2013) WoW forum, so totally unrelated.

Also looking at http://web.archive.org/web/*/http://buddhacoin.pixub.com/ there is nothing older than this years April 4.

So probably more of the usual bullshit.


If is abandoned since oct 2013 this proves that bytecoin existed before so they forked, Is my line of thinking correct?

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April 12, 2015, 09:02:19 PM
 #4359

I think this is the announcement thread of paladin i also downloaded the binaries they are *.jar, this is java correct.


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April 12, 2015, 09:23:31 PM
 #4360

Edit: if someone uses Tor and is interested to try to discover something about Paladincoin: http://xxvxqnbatbidn4tq.onion/
It's an abandoned (no posts since 2013) WoW forum, so totally unrelated.

Also looking at http://web.archive.org/web/*/http://buddhacoin.pixub.com/ there is nothing older than this years April 4.

So probably more of the usual bullshit.


If is abandoned since oct 2013 this proves that bytecoin existed before so they forked, Is my line of thinking correct?

Where is the evidence that this or the other alleged "old" fork existed before April 4:

Also looking at http://web.archive.org/web/*/http://buddhacoin.pixub.com/ there is nothing older than this years April 4.

It is quite sad that the people behind this scam think that the route to success is to keep doubling down on the fraud instead of trying to find a way to break from their earlier lies. It seems like some sort of mental illness.
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