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

[x0rcist]

How do you know?

http://www.epochconverter.com/?TimeStamp=1341378000

[1715141837]

1715141837

[1715141837]

1715141837

[Spekulatius]

How do you know?

http://www.epochconverter.com/?TimeStamp=1341378000

Ok, so where do you get an input from? (1341378000 is today in UNIX time)

[x0rcist]

Actually it is Wed, 04 Jul 2012 05:00:00 GMT, Independence Day

[Johnny Mnemonic]

So if there's 150 billion coins in circulation, then more than 80% of the total supply has been mined already. What happens when block reward drops to zero? Will there be a perpetual debasement to keep paying miners?

[danteT]

So if there's 150 billion coins in circulation, then more than 80% of the total supply has been mined already. What happens when block reward drops to zero? Will there be a perpetual debasement to keep paying miners?

That is the question - and another one - what time do we have until <1 per block reward. It is hard to count exact time because of unusual block rewards, but are we speaking about years or more than 10-20 years?

[Spekulatius]

Actually it is Wed, 04 Jul 2012 05:00:00 GMT, Independence Day

Right, I wonder why the site doesnt use the time encoded in the URL? Anyway. where did you get that input (1341378000) from?

[abit2slo]

Actually it is Wed, 04 Jul 2012 05:00:00 GMT, Independence Day

Right, I wonder why the site doesnt use the time encoded in the URL? Anyway. where did you get that input (1341378000) from?

here's the answer

Does this coin really start from July, 2012？？？？

Yes, it seems to be truth. First of all, it is noted on their site:

The first block was founded 07/04/2012 05:00:00 (GMT).

Then I've used "print_block" command in daemon and what I get was (it's not full version):

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,

There's line "timestamp": 1341378000, which is Wed, 04 Jul 2012 05:00:00 GMT

[danteT]

Some quotes from cryptonote forum, from one of developers:

We had good reasons to be in stealth mode for the R&D phase, just like the Bytecoin's devs. You see there are some forces in this world, which do not agree with us and our attitude to the world and the economy of the future. This also basically answers your second question.

What we're doing here is trying to envision a future with a completely different economic principles. A world of higher anonymity, less involvement of government and corporations in the ordinary lives. This is something that we strongly disagree with currently. And finally, it is really rewarding just to be able to work on such technologies (at least for me). So we're doing this to offer new approaches to make the advent of decentralized economy and cryptonomy possible.

Putting it short, we're indeed a group of experts (just like stated on the website). We're also dreamers as you've probably noticed. We've been making our research to make our dream come true. Hopefully, one day I will be able to be more specific.

https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61

[danteT]

and some words about network state from developers from the same forum:

I can add that we're pretty sure that the complexity level won't grow exponentially, so the coin should keep going even when the number of users is high. Once again, Bytecoin has been doing pretty good for the last years. I don't know the current figures, but I'd say several tens of thousands of active users with continuously ongoing transactions.

https://forum.cryptonote.org/viewtopic.php?f=2&t=10#p45

[Patejl]

Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.


imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.

[abit2slo]

1million is nothing compared to 184 billions of total coins

and to be honest, all our thoughts about the community are just guessworks.

even so i continue mining and trading and hope one day 1BCN will be equal to 1BTC or more.

[Patejl]

1million is nothing compared to 184 billions of total coins

and to be honest, all our thoughts about the community are just guessworks.

even so i continue mining and trading and hope one day 1BCN will be equal to 1BTC or more.

Nothing? We are talking about bilions, not trilions. 1 000 000 is 0.00000542 of all BCN's, so 1 year with current reward/difficulty can theoretically give with one of my machines cca 0.0005 of all BCN's . There are not much altcoins which can be mine so fast after 2 years.

[lemier]

Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.


imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.

You know what people say about guys who are trying to prove they are smart using BIG TEXT LIKE THIS?

[Patejl]

Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.


imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.

You know what people say about guys who are trying to prove they are smart using BIG TEXT LIKE THIS?

Interesting, and what are people say about this size? 

[DStrange]

I have found that on https://bytecoin.org/ today:

04/02/2014
Updated windows binaries is now available
Release notes 0.8.3 :
- JSON RPC for wallet;
- fixed bug with blockchain storing;
- fixed bug with correct display of transfer's change;
- bug fix in simple wallet.

I think all of us here should update our binaries.

[lemier]

Johnny Mnemonic:
Even with this weird trick ít's not worth of mining on that pool. I got only 90 000 only after 12 hours. With same machine i'm able to solomine 2 - 3 blocks (132 000) per day.


imho,
there must be only a few hundred really active BCN miners. It runs almost 2 years and even now it's extremely easy to mine. With my single humble machine im able to get 1 million in 3.5 days, that's crazy.

You know what people say about guys who are trying to prove they are smart using BIG TEXT LIKE THIS?

Interesting, and what are people say about this size? 

Well from what I heard - girls don't like it So you should be careful using it - someone might think something

[x0rcist]

and some words about network state from developers from the same forum:

I can add that we're pretty sure that the complexity level won't grow exponentially, so the coin should keep going even when the number of users is high. Once again, Bytecoin has been doing pretty good for the last years. I don't know the current figures, but I'd say several tens of thousands of active users with continuously ongoing transactions.

https://forum.cryptonote.org/viewtopic.php?f=2&t=10#p45

so there is some elite bitcoin of things developing next gen blockchains out of sight? gosh who would have thought of that... much wow such disruptive 

whats next? biological trustless nano ledgers ?

[thankful_for_today]

I have found that on https://bytecoin.org/ today:

04/02/2014
Updated windows binaries is now available
Release notes 0.8.3 :
- JSON RPC for wallet;
- fixed bug with blockchain storing;
- fixed bug with correct display of transfer's change;
- bug fix in simple wallet.

I think all of us here should update our binaries.

Please be careful. This version is extrimely slow in synch.

+ Daemon consumes about 4Gb of RAM. Too big for a simple net node.

[x0rcist]

Please be careful. This version is extrimely slow in sych.

+ Daemon consumes about 4Gb of RAM. Too big for a simple net node.

are you involved in this project?

[thankful_for_today]

Please be careful. This version is extrimely slow in sych.

+ Daemon consumes about 4Gb of RAM. Too big for a simple net node.

are you involved in this project?

I would like to. I've downloaded code from githab and it behaves bad