[BCN] Bytecoin. Secure, private, untraceable since 2012

[x0rcist]

BTW according to my calculations, first block reward was 703684.7574 that is only three times the current one. Not so much as it might seem from the beginning

Correct. 703,684.75742208

Code:

print_block 1
block_id: <13a537627c969dfda1bf6a2688694aa139f66d643073d49afc5cdd75d3c1e400>
{
  "major_version": 1,
  "minor_version": 0,
  "timestamp": 1341378000,
  "prev_id": "a742885cb01d11b7b36fb8bf14616d42cd3d8c1429a224df41afa81b86b8a3a8",

  "nonce": 4122499893,
  "miner_tx": {
    "version": 1,
    "unlock_time": 11,
    "vin": [ {
        "gen": {
          "height": 1
        }
      }
    ],
    "vout": [ {
        "amount": 742208,
        "target": {
          "key": "01abbcdfe3b08e93d923363ef633fa40e1105bb6a0c3343c133ecee314afcc
69"
        }
      }, {
        "amount": 5000000,
        "target": {
          "key": "e4b7a602c005c92905b6b1abd94b190423f2c572aa6250cb717b86f422d29c
ec"
        }
      }, {
        "amount": 70000000,
        "target": {
          "key": "07ba3fd7080e96d29088c57943cd595641c0d240b5337ee3f8e2c769a6aba2
53"
        }
      }, {
        "amount": 400000000,
        "target": {
          "key": "650e89d7f89a73c9ef5ef116df3898de97b4c99929dcbd64d63fcee8026731
87"
        }
      }, {
        "amount": 8000000000,
        "target": {
          "key": "e447daf608d1b6fb975a95332bb97eae2672a5dd6395d0698cfae325539f2d
ad"
        }
      }, {
        "amount": 60000000000,
        "target": {
          "key": "b2af9294e8873512e184fe60423b0e079341a45ad629b1791eda4ad2434c4b
e0"
        }
      }, {
        "amount": 300000000000,
        "target": {
          "key": "2e59029b6872f2ffe79ecb162959c9680f0b54fb5d2bba8671f7c9215f5ed1
94"
        }
      }, {
        "amount": 70000000000000,
        "target": {
          "key": "a27153546ebdce6e01bb7c60b3e6c293088c9ace0251d2e5a25440a6713e9b
40"
        }
      }
    ],
    "extra": [ 1, 168, 94, 33, 33, 118, 183, 32, 176, 128, 0, 129, 250, 125, 54,
 59, 202, 197, 231, 184, 196, 18, 178, 200, 214, 160, 27, 30, 14, 123, 90, 56, 6
5
    ],
    "signatures": [ ]
  },
  "tx_hashes": [ ]
}

[abit2slo]

BTW according to my calculations, first block reward was 703684.7574 that is only three times the current one. Not so much as it might seem from the beginning

Correct. 703,684.75742208

Code:

print_block 1
block_id: <13a537627c969dfda1bf6a2688694aa139f66d643073d49afc5cdd75d3c1e400>
{
  "major_version": 1,
  "minor_version": 0,
  "timestamp": 1341378000,
  "prev_id": "a742885cb01d11b7b36fb8bf14616d42cd3d8c1429a224df41afa81b86b8a3a8",

  "nonce": 4122499893,
  "miner_tx": {
    "version": 1,
    "unlock_time": 11,
    "vin": [ {
        "gen": {
          "height": 1
        }
      }
    ],
    "vout": [ {
        "amount": 742208,
        "target": {
          "key": "01abbcdfe3b08e93d923363ef633fa40e1105bb6a0c3343c133ecee314afcc
69"
        }
      }, {
        "amount": 5000000,
        "target": {
          "key": "e4b7a602c005c92905b6b1abd94b190423f2c572aa6250cb717b86f422d29c
ec"
        }
      }, {
        "amount": 70000000,
        "target": {
          "key": "07ba3fd7080e96d29088c57943cd595641c0d240b5337ee3f8e2c769a6aba2
53"
        }
      }, {
        "amount": 400000000,
        "target": {
          "key": "650e89d7f89a73c9ef5ef116df3898de97b4c99929dcbd64d63fcee8026731
87"
        }
      }, {
        "amount": 8000000000,
        "target": {
          "key": "e447daf608d1b6fb975a95332bb97eae2672a5dd6395d0698cfae325539f2d
ad"
        }
      }, {
        "amount": 60000000000,
        "target": {
          "key": "b2af9294e8873512e184fe60423b0e079341a45ad629b1791eda4ad2434c4b
e0"
        }
      }, {
        "amount": 300000000000,
        "target": {
          "key": "2e59029b6872f2ffe79ecb162959c9680f0b54fb5d2bba8671f7c9215f5ed1
94"
        }
      }, {
        "amount": 70000000000000,
        "target": {
          "key": "a27153546ebdce6e01bb7c60b3e6c293088c9ace0251d2e5a25440a6713e9b
40"
        }
      }
    ],
    "extra": [ 1, 168, 94, 33, 33, 118, 183, 32, 176, 128, 0, 129, 250, 125, 54,
 59, 202, 197, 231, 184, 196, 18, 178, 200, 214, 160, 27, 30, 14, 123, 90, 56, 6
5
    ],
    "signatures": [ ]
  },
  "tx_hashes": [ ]
}

Lol. I calculated manually, but you've found better way to check.

[asdlolciterquit]

how many coins i mine with an phenom II X4 945 3ghz for day?

[x0rcist]

ps. in my background search to know more about this coin i also stumbled upon timekoin.org , another vague old coin that has "connections" to satoshi and bytecoin. Interesting stuff that got burried by the media hype around bitcoin itself. Also the website bytecoin.org has only for a few months content on it (by going to internet archive) and looks some sort of a .edu project from around the world. I guess it was ByteCoin's / CryptoNote's plan to go "public" now the code is ready for adoption. Github sources etc are only online for a few months.

[Cheesus]

I heard something about timekoin. I think it was dead before its birth. How was it connected to satoshi?
And .edu project? Do you mean bytecoin was done by students?

[x0rcist]

I heard something about timekoin. I think it was dead before its birth. How was it connected to satoshi?
And .edu project? Do you mean bytecoin was done by students?

TimeKoin is still running (3 years old) and the guy who started it was knightmb (google that name). I said "connections" not connected.. The group of devs around these coins seems to know each other and helped along with problems/bugs etc. And a .edu project would make sense as ByteCoin/CryptoNote is developed by a "team' and some of the names lead to academic research pages and white papers about cryptography. Students can be but my guess is more like some Professors in Computer Research and Cryptography. .edu's are also known for having secret society's ...

Check also this user, called ByteCoin who helped solving much of the problems Bitcoin had in the early days and talkes about features that are active in..... Bytecoin
https://bitcointalk.org/index.php?action=profile;u=490

[x0rcist]

Another thing i just stumbled on is they mentioned a meeting somewhere in London around Sept. 2012. Around the same time there was a Bitcoin Conference in the same city.

https://sites.google.com/a/bitcoin2012.com/homepage/speakers

[DStrange]

how many coins i mine with an phenom II X4 945 3ghz for day?

You should check this wiki article https://wiki.bytecoin.org/wiki/Mining_hardware_comparison

[asdlolciterquit]

how many coins i mine with an phenom II X4 945 3ghz for day?

You should check this wiki article https://wiki.bytecoin.org/wiki/Mining_hardware_comparison

thanks, but on that article i can check only the hashrate of my cpu. How can i know, instead, the number of coins?

[x0rcist]

how many coins i mine with an phenom II X4 945 3ghz for day?

You should check this wiki article https://wiki.bytecoin.org/wiki/Mining_hardware_comparison

thanks, but on that article i can check only the hashrate of my cpu. How can i know, instead, the number of coins?

this is not a coin to mine if you want to know the exact number of coins but solomining with 10hps is still a GO!!
blocks are around 131.700 bytecoins

[DStrange]

I checked the tor site (nd4hymhii2vsjvmp.onion) found by pozmu
There's one more mystery

Code:

  <head>
       <title>Cryptonote</title>
       <link rel="shortcut icon" href="/images/favicon.ico" type="image/x-icon">
       <link rel="stylesheet" href="main.css">
	   <meta name="Message" content="-----BEGIN PGP MESSAGE-----
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=CZga
-----END PGP MESSAGE-----">
<meta name="passphrase" content="cryptonote">
   </head> 

Any ideas?
And the author of whitepaper- Nicolas van Saberhagen is not mentioned in the Internet too.

[nakaone]

still not sure with the decimals - can somebody verify that the atomic units do not equal the coins?

[x0rcist]

I guess the name used is some sort of Anagram like Nakamoto.
Only found a reference where the name was mentioned in #bitcoin-wizards, http://download.wpsoftware.net/bitcoin/wizards/2014-03-15.txt

They also mentioned the user ByteCoin which i linked to earlier. The PGP thing is somewhat interesting but without a key it cannot be decoded.

One thing is clear, they waited till the code was ready to go public

[x0rcist]

still not sure with the decimals - can somebody verify that the atomic units do not equal the coins?

atomic unit is the smallest possible nr. so 1 atomic unit = 0.00000001 BCN

BCN = ByteCoiN or Bytecoin CryptoNote?

[nakaone]

i think this really is an interesting project - so do not get me wrong.

if 1 million bcn are worth 0,2 btc - the project with already 150bn coins in existence is worth around 30.000 btc, that is somewhat above protoshares/counterparty and slightly below namecoin. if the price would be 1/10th of that I would probably buy some but that is somewhat sick high.

anyway interesting project - I keep following and probably mine some for myself

any calculation wrong?

[abit2slo]

wow guys
you are true crypto sherlocks!

[danteT]

i think this really is an interesting project - so do not get me wrong.

if 1 million bcn are worth 0,2 btc - the project with already 150bn coins in existence is worth around 30.000 btc, that is somewhat above protoshares/counterparty and slightly below namecoin. if the price would be 1/10th of that I would probably buy some but that is somewhat sick high.

anyway interesting project - I keep following and probably mine some for myself

any calculation wrong?

With such a features plus not Bitcoin fork - it can (and i hope will) worth much more than 0,2 btc per 1 million.
We should know somehow the grade of decentralization. The situation with bytecoin seems reminding bitecoin. But looks like Bytecoin early adopters is a huge amount of users and those 150 bn bytecoins distributed well between them. That is really good, because seems not only one person own the market. But we can`t know for sure because of network anonymity.

P.S. What is the difficulty now? Is is worth to solo on 1 CPU? What`s about ARM mining?

[thankful_for_today]

I was intrigued with what  nakaone said regarding the number of coins in circulation. So I decided to make a research.

The formula on the Bytecoin's website was not prepared for easy calculations, so I decided to play around with it.

Here are the constants:



We can omit M to calculate the sequence:



So bn should be like this:



Which leads us to a new representation of the original formula:



These could be easily used in Excel.

Current block n = 447,800
M = 2^64 -1
q = 2^(-18)

So there should be around 15 104 430 719 645 400 000 atomic units. Dividing by 10^8 we end up with an aproximate number of current BCNs: 151 044 307 196.

I think this number is rather close to the truth considering that the net works for almost 2 years and that estimated number of miners is about 3,000.

According to white paper (section 6.2.3 Excess size penalty) block reward depends not only on block height but also on block size. It is possible that an actually emitted amount is less than expected with calculations above because penalty is applied to big blocks. This is the way they protect the chain from tx spam.

Another issue is the estimated number of miners. I guess that 3000 is the number of CPUs working at the same time. Some early miners have probably already switched to Primecoin or are not mining at all. So actual number of stakeholders should be >3000. But we don't know for sure about botnets' involvment into BCN mining.

[Johnny Mnemonic]

What's wrong with minergate client? Is that 1 thread only miner? I have 6.5 H/s with solo mining, but only 1,8 in minergate.

You can run multiple instances of minergate simultaneously to create more threads.

[Spekulatius]

I was intrigued with what  nakaone said regarding the number of coins in circulation. So I decided to make a research.

The formula on the Bytecoin's website was not prepared for easy calculations, so I decided to play around with it.

Here are the constants:



We can omit M to calculate the sequence:



So bn should be like this:



Which leads us to a new representation of the original formula:



These could be easily used in Excel.

Current block n = 447,800
M = 2^64 -1
q = 2^(-18)

So there should be around 15 104 430 719 645 400 000 atomic units. Dividing by 10^8 we end up with an aproximate number of current BCNs: 151 044 307 196.

I think this number is rather close to the truth considering that the net works for almost 2 years and that estimated number of miners is about 3,000.

How do you know?
Using the number of coins in existence and using the formula to calculate the general reward per block, I arrive at roughly 150 days total network age, considering the average block interval 2 minutes (which is not affected by hashrate influx like Bitcoin because dif is retargeted every block according to website). My math abilities are pretty primitive, so you might have a better approximation at hand. Is there any way to verify the network age independently from guessing based on these numbers? Lets say by checking timestamps on blocks or earlier releases of the client, timestamps on references to the bytecoin network from 2 years ago,..?