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Author Topic: [BCN] Bytecoin. Secure, private, untraceable since 2012  (Read 1019210 times)
Ullo
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August 11, 2015, 03:42:34 PM
 #4801

Today we’ve released Bytecoin version 1.0.7 and Bytecoin Wallet version 1.0.6.

This is a major update for Bytecoin network and we urge everyone to update your clients and wallets to the latest version to ensure compatibility with 1.0.8 version.

This update features:

  • New feature called Fusion transactions. This feature is designed to help users combine smaller transaction inputs into the bigger ones. Fusion transactions are going to be a part of the block and won’t take up more than 30% of the median block size.
  • Various Simplewallet and Bytecoin Wallet improvements

In this update we’ve introduced new daemon rules, users will be able to optimize their wallets in 1.0.8 update that is coming up soon.

Bytecoin Wallet can now import and export tracking keys. Tracking key is a combination of public and private keys. Anyone possessing wallet's tracking key can view all funds that were transferred to the account, but he can neither view the outgoing transactions nor spend the money.

As we mentioned before, this is a major update that introduces new block template rules. Download latest version of Bytecoin reference client and Bytecoin Wallet on our Downloads page to ensure compatibility with 1.0.8 version. 

You can find more about the 1.0.7 release here: https://bytecoin.org/news/bytecoin-major-update-1.0.7-introduces-fusion-transactions/




Bytecoin BCN core team: https://bytecoin.org/
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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darlidada
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August 11, 2015, 04:31:13 PM
 #4802

i dont understand why you keep working on bytecoin its a waste of your time as now its common knowledge on the whole internet that its a premine scam. why dont you just relaunch a coin? please explain me your rationale
smooth
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August 11, 2015, 09:51:16 PM
 #4803

i dont understand why you keep working on bytecoin its a waste of your time as now its common knowledge on the whole internet that its a premine scam. why dont you just relaunch a coin? please explain me your rationale

Because developers in cheap countries cost around 2000 USD per month therefore if you expect to eventually be able to pull out even a few million from a premine scam, it makes sense for the backers of the fraud to pay a developer and keep the appearance going for potentially 1000 months = forever.

I doubt they will actually keep at it forever, but you can't rule it out. The idea that ongoing appearance of development is a credible signal of a non-scam makes sense for independent projects with little to no funding (of which there have been many in the coin space, most of course scams with little to no development), so altcoin investors have incorrectly learned that looking to development is a good way to tell scams from non-scams. That makes them vulnerable to organized frauds such as this one, which do have some funding.
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August 12, 2015, 12:58:03 AM
 #4804

i dont understand why you keep working on bytecoin its a waste of your time as now its common knowledge on the whole internet that its a premine scam. why dont you just relaunch a coin? please explain me your rationale

DASH should relaunch as well with that sort of rationale.  Actually bitcoin should too seeing as so much of it is mined, and my mom didn't even know about it!
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August 12, 2015, 01:05:45 AM
 #4805

i dont understand why you keep working on bytecoin its a waste of your time as now its common knowledge on the whole internet that its a premine scam. why dont you just relaunch a coin? please explain me your rationale

DASH should relaunch as well with that sort of rationale.  Actually bitcoin should too seeing as so much of it is mined, and my mom didn't even know about it!

Bitcoin did not have a premine at all, nor was there anything fraudulent about how it was launched, but if your argument is simply about emission curve then even on that basis Bytecoin is far far worse (<1 year emission half life vs 4 years for Bitcoin, <75% mined for Bitcoin vs. 95% for Bytecoin).

If by DASH you mean the former Darkcoin (as opposed to dashcoin the bytecoin clone), then certainly any honest observer would agree that yes its instamine is about as a big a fraud as Bytecoin, although the degree of it is smaller with DASH (9%-45% depending on how you count as opposed to 82-90%), which may be why DASH has a bit of a following and aside from the sock puppets, insiders, and a tiny number of naive suckers, Bytecoin has almost none.
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August 12, 2015, 01:49:39 AM
 #4806

I must say this is such a shame the developers chose this route. They could easily have a fair launch and mine a lot of coins honestly. Or perhaps come clean and instamine less than 5% and be open about it. This coin would easily be among the top 3 if things went a different route. The developers are very good and active, and the coin is very innovative.

If the developers have any hope on keeping this project alive in the long term they have to come clean, admit the forgery of documents, premine and destroy any premined coin. This very good development that is happening has to continue, too. That way, bytecoin may have a chance of being a really big and disruptive coin.
I think we as a community should deal with this as soon as possible. I have mined bcn for awhile now but I will sell it all and I highly recommend everyone to do so and abandon bytecoin if this keeps going on. You can only ignore everyone for so long.

Could you please address this, Ullo and others? Every day this is ignored is a day spent regardless of good and innovative development.
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August 12, 2015, 03:02:22 AM
 #4807

if nobody buys BCN, all they do was develop dashcoin indirectly....how about coin swap some amount of BCN premine to dashcoin or move to dashcoin, maybe the DSH community can gather a nice fat bounty for donation to BCN devs to become DSH devs  Cool .... or simply relaunch, there is always an option.
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August 12, 2015, 03:11:44 AM
 #4808

I must say this is such a shame the developers chose this route. They could easily have a fair launch and mine a lot of coins honestly. Or perhaps come clean and instamine less than 5% and be open about it. This coin would easily be among the top 3 if things went a different route. The developers are very good and active, and the coin is very innovative.

One word. Ethereum.

Quote
If the developers have any hope on keeping this project alive in the long term they have to come clean, admit the forgery of documents, premine and destroy any premined coin. This very good development that is happening has to continue, too. That way, bytecoin may have a chance of being a really big and disruptive coin.
I think we as a community should deal with this as soon as possible. I have mined bcn for awhile now but I will sell it all and I highly recommend everyone to do so and abandon bytecoin if this keeps going on. You can only ignore everyone for so long.

Could you please address this, Ullo and others? Every day this is ignored is a day spent regardless of good and innovative development.

They have addressed it, even Ullo specifically, by denying and obfuscating and piling more lies and non-sequeteurs on top of lies. Don't expect anything different.

There is quite honestly no reason for the Bytecoin project to exist at this point beyond trying to pull value out of the premine. If you want a non-scam Cryptonote, there is Monero, AEON, BBR and others (disclosure: I'm associated with Monero and AEON but not with BBR, or any others) and the Bytecoin developers, if they want to do legitimate work and push the technology forward are welcome to contribute to any of these transparent open source projects. There is even Dashcoin, an almost-exact but relaunched clone of Bytecoin, though I personally think that inheriting Bytecoin's accelerated emissions curve has made it a bit too fastmined.

They can even make money, if that is their goal, by buying coins, which in all of these cases are still very cheap.
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August 12, 2015, 03:16:59 AM
 #4809

I must say this is such a shame the developers chose this route. They could easily have a fair launch and mine a lot of coins honestly. Or perhaps come clean and instamine less than 5% and be open about it. This coin would easily be among the top 3 if things went a different route. The developers are very good and active, and the coin is very innovative.

If the developers have any hope on keeping this project alive in the long term they have to come clean, admit the forgery of documents, premine and destroy any premined coin. This very good development that is happening has to continue, too. That way, bytecoin may have a chance of being a really big and disruptive coin.
I think we as a community should deal with this as soon as possible. I have mined bcn for awhile now but I will sell it all and I highly recommend everyone to do so and abandon bytecoin if this keeps going on. You can only ignore everyone for so long.

Could you please address this, Ullo and others? Every day this is ignored is a day spent regardless of good and innovative development.

 just buy XMR, monero was created because the 82% premine smelled so off


"fool me once shame on you, fool me twice shame on me"

there's no way team bytecoin can be trusted, but if some individuals came clean and admitted the truth then I'm sure team monero would consider taking in any defectors
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August 12, 2015, 07:31:02 AM
 #4810

To smooth & his band of dinero shills.

every damn time we get a BCN update you morons switch the broken record player back on.
wet blankets the lot of you.

just mind your own smooth



wildduck
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August 12, 2015, 08:21:20 AM
 #4811

To smooth & his band of dinero shills.

every damn time we get a BCN update you morons switch the broken record player back on.
wet blankets the lot of you.

just mind your own smooth




Yes i agree who wants to buy and support bcn do ti else do something else..
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August 12, 2015, 08:22:55 AM
 #4812

I must say this is such a shame the developers chose this route. They could easily have a fair launch and mine a lot of coins honestly. Or perhaps come clean and instamine less than 5% and be open about it. This coin would easily be among the top 3 if things went a different route. The developers are very good and active, and the coin is very innovative.

One word. Ethereum.

Quote
If the developers have any hope on keeping this project alive in the long term they have to come clean, admit the forgery of documents, premine and destroy any premined coin. This very good development that is happening has to continue, too. That way, bytecoin may have a chance of being a really big and disruptive coin.
I think we as a community should deal with this as soon as possible. I have mined bcn for awhile now but I will sell it all and I highly recommend everyone to do so and abandon bytecoin if this keeps going on. You can only ignore everyone for so long.

Could you please address this, Ullo and others? Every day this is ignored is a day spent regardless of good and innovative development.

They have addressed it, even Ullo specifically, by denying and obfuscating and piling more lies and non-sequeteurs on top of lies. Don't expect anything different.

There is quite honestly no reason for the Bytecoin project to exist at this point beyond trying to pull value out of the premine. If you want a non-scam Cryptonote, there is Monero, AEON, BBR and others (disclosure: I'm associated with Monero and AEON but not with BBR, or any others) and the Bytecoin developers, if they want to do legitimate work and push the technology forward are welcome to contribute to any of these transparent open source projects. There is even Dashcoin, an almost-exact but relaunched clone of Bytecoin, though I personally think that inheriting Bytecoin's accelerated emissions curve has made it a bit too fastmined.

They can even make money, if that is their goal, by buying coins, which in all of these cases are still very cheap.




the moronero community have tainted virtually every other CN coin in existence (inc BBR which you mention above) with the scam brush. additionally you speak of BCN's fast emission curve when your own is not much slower.

BCN has a blockchain and when the coin came to public attention in 2014 the amount of coins mined was transparent & clear for all to see. People can argue about who mined the coins, what's new? same goes for any coin. I do not see any scam. The code is open-source after all so if you have concerns over the distribution (as I do with every single crypto-currency today) either fork it or invest in it to improve the distribution.

mywalk: I must say this is such a shame the developers chose this route. They could easily have a fair launch and mine a lot of coins honestly

There is one possible issue with the "fair launch" route. If a "malicious entity" gets hold of a large percentage (say 70%+) of a cryptonote coins total supply the entity has a chance of de-anonymizing the transaction. A "fair" launch would permit malicious entities from mining large amounts of coin from day 1. This is a vulnerability all CN coins have. Assuming the BCN devs are actually well-meaning cypherpunks it is possible mining on the darknets was an attempt to shut-out enemies.

p.s. fair launches don't exist for proof-of-work coins. do you have a botnet/mining farm? no, neither do I.

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August 12, 2015, 08:30:14 AM
 #4813

the moronero community have tainted virtually every other CN coin in existence (inc BBR which you mention above) with the scam brush.

I have no issue with BBR in terms of scamming. If someone else does you will have to take it up with them. Off topic here though.

Quote
additionally you speak of BCN's fast emission curve when your own is not much slower.

Again largely off topic, but yes I consider 2x, plus an additional tail reward, quite significant, and I've been on the record as saying that coins 1/2 the speed of BCN are likely borderline too fast, which means BCN is certainly too fast.

Quote
p.s. fair launches are a fallacy with all proof-of-work coins.

I disagree, and I don't think you've even thought that statement. A fair launch is pretty easily definable concept.

Quote
do you have a botnet/mining farm?

No, although I have done mining as an enthusiast for years. Again off topic.

Thank you for keeping the discussion about the BCN scam going though. No one believes your "they had to destroy premine the coin in order to save it" rationalization one bit. Relative probability of that <1%. Greed and scamming >99%.
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August 12, 2015, 08:34:58 AM
 #4814

well lets get on-topic and discuss the following, if you're up to it:

Today we’ve released Bytecoin version 1.0.7 and Bytecoin Wallet version 1.0.6.

This is a major update for Bytecoin network and we urge everyone to update your clients and wallets to the latest version to ensure compatibility with 1.0.8 version.

This update features:

  • New feature called Fusion transactions. This feature is designed to help users combine smaller transaction inputs into the bigger ones. Fusion transactions are going to be a part of the block and won’t take up more than 30% of the median block size.
  • Various Simplewallet and Bytecoin Wallet improvements

In this update we’ve introduced new daemon rules, users will be able to optimize their wallets in 1.0.8 update that is coming up soon.

Bytecoin Wallet can now import and export tracking keys. Tracking key is a combination of public and private keys. Anyone possessing wallet's tracking key can view all funds that were transferred to the account, but he can neither view the outgoing transactions nor spend the money.

As we mentioned before, this is a major update that introduces new block template rules. Download latest version of Bytecoin reference client and Bytecoin Wallet on our Downloads page to ensure compatibility with 1.0.8 version. 

You can find more about the 1.0.7 release here: https://bytecoin.org/news/bytecoin-major-update-1.0.7-introduces-fusion-transactions/





smooth
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August 12, 2015, 08:42:53 AM
 #4815

well lets get on-topic and discuss the following, if you're up to it:

Okay.

The fusion transactions thing is a trivial change that counts inputs and outputs on a transaction and omits the fee check (up to a limited amount of blockspace) if the ratio is <1/3. That's something that would take a programmer of modest skill who didn't even necessarily understand the code base not very long to implement. I don't have a strong opinion on the merits of it, I could see arguments for it being a good or a bad idea.

I can't comment on the wallet changes in general because it is closed source. Although I can say that displaying and importing tracking keys is also trivial (just displaying or reading some hex-formated numbers that exist in a wallet), and I say that in part because another cryptonote coin added that in open source several months ago.

Overall there is nothing here that would suggest anything other than "keep the appearance of development going so some fools will buy and we can eventually unload a good chunk of the premine".
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August 12, 2015, 12:46:43 PM
 #4816

This "they had to premine over 80% of the coins in order to """"prevent"""" malicious entities, and lie about it multiple times" comment is so absurd I am not even going to reply it. If you want people to take you seriously I suggest you to think before typing such comments, or else people will believe you are a shill or something because that's so absurd.

As for the updates, yes I do believe they are developing well. They seem to be miles ahead of any other CN coin, including monero.

I thought this would obviously be open source, like all other coins are and are supposed to be. Yet another bad surprise to hear this is closed source.
I hope everything pans out well with this coin.

EDIT: It seems the closed source thing is a lie. https://github.com/amjuarez/bytecoin
Forking could be an option.
smooth
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August 12, 2015, 10:15:40 PM
 #4817

EDIT: It seems the closed source thing is a lie. https://github.com/amjuarez/bytecoin
Forking could be an option.

The GUI wallet is closed source.

The coin (without GUI wallet) has been forked like 30 times already, starting back in April last year when the community started to figure out what a joke this launch was.



 
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August 12, 2015, 10:17:31 PM
 #4818

Anyone else having problem syncing since last release? I get 0 peers.
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August 12, 2015, 10:40:57 PM
 #4819

EDIT: It seems the closed source thing is a lie. https://github.com/amjuarez/bytecoin
Forking could be an option.

The GUI wallet is closed source.

The coin (without GUI wallet) has been forked like 30 times already, starting back in April last year when the community started to figure out what a joke this launch was.



 

Hi BCN community,

I am investigating Smooth as a developer who spends his entire day attacking his competitors, with 50 posts attacking 3 competitors today.  I am not here to assess the validity of any particular coin and I have never invested in BCN or know much about it apart from it was the original Cryptonote coin. 

Feel free to vote or provide any info on Smooth that might be relevant.

https://bitcointalk.org/index.php?topic=1151565.0
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August 13, 2015, 11:01:25 AM
 #4820

Anyone else having problem syncing since last release? I get 0 peers.


What is your OS? Do you use GUI or reference client? Please, give me more details of the problem.

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