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

[GreekBitcoin]

is there a miner for the pool that runs with command line?

also forum user:pass ?

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[danteT]

Interesting information

https://forum.cryptonote.org/viewtopic.php?f=2&t=10&p=67#p67

This number was my estimate, nothing more. As I've mentioned, by design it is not possible to estimate the exact number of users: https://forum.cryptonote.org/viewtopic.php?f=5&t=22 — Bytecoin's devs should have probably implemented tools to monitor the network, but once again I don't know for sure if they did.

Another point, Bytecoin's community has nothing to do with CryptoNote, we provide technological solutions. It is simply out of our interest to create and maintain such communities. As far as I know, researchers from various institutions are indeed a part of this community, but not a substantial one. The beta testing phase should have ended long time ago, so I assume that the transactions are real.

[smooth]

Next week I will start my own fork of Bytecoin - another coin based on CryptoNote technology. It will be started from scratch (from block zero). I will write an anouncement today ot [ANN] subforum. Emission schedule will be more flat and block target will be reduced to 60 sec.

I mostly laugh at all the me-too copy-and-paste altcoins forksclones, but in this case I think you have a point.

If it can deliver on its promises this is the most innovative development since bitcoin. Bitcoin has a four year reward halving schedule, and by the first halving, the bitcoin economy was at least somewhat fairly developed. This one seems to be more like one year for halving, and maybe there is development in the dark web somewhere, but unless we can see some evidence of it or people buying 100m coins to arbitrage between the dark web and the light web (which would be evidence of it) turns out to be real, then we have a situation that looks a lot like a premine (perhaps unintentional).

I can see an argument for shortening the schedule relative to bitcoin, but going to one year is probably taking it too far.  BTW, it is simple to slow down the schedule, just increase the denominator in the reward formula. If you speed up the blocks to a minute, which I'm not sure is necessarily a good idea, then you need to double the denominator to keep the schedule the same.

I would contribute this effort if I'm impressed with the team and vision. PM me when you have more in place.

I would caution on forking if the original developers don't approve though. If they are silent, well, I guess there is no reason not to do it.

EDIT: It seems they are actively inviting it: https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8 I'm in.

[goblynn]

how can i get involved?

[thankful_for_today]

Last Difficulty is 661742 - i guess mining in solo getting worthless.
Any experience in minergate.com mining? Is it the only Bytecoin pool?

The worthlessness of solo mining depends on the chance to find a block in reasonable timeframe. According to calculations here ( https://bitcointalk.org/index.php?topic=560540.0 ) solo mining gives several blocks per week. I guess this is a good result. Solo mining of BCN will die in case difficulty will increase ten times or more.

Bitcoin pools were created because an expected block generation time exceeded several months. From the network point of view it's much better to do solo mining.

[DStrange]

Aren't giveaways banned?

https://bitcointalk.org/index.php?topic=434310.0

Not this type of giveaways... Anyway, I think there is no more coins left (I applied and received nothing :/)

Specifically, you are not allowed to give people any incentive to post insubstantial posts in your threads. You can't offer to pay people who post their addresses, usernames, etc. You can do giveaways off-site and link to the giveaway page in a thread, but you can't give people any bonus for replying to your thread.

Giveaway still goes on. 108,235 coins left.
I send free BCN to all people who apply for it every day. Except those who provided me with BTE addresses.
PM your BCN address and I will check if I have sent you coins.

[Johnny Mnemonic]

Next week I will start my own fork of Bytecoin - another coin based on CryptoNote technology. It will be started from scratch (from block zero). I will write an anouncement today ot [ANN] subforum. Emission schedule will be more flat and block target will be reduced to 60 sec.

If we're going to create a bcn derivative, I think we need to have a serious community discussion about possible changes and improvements in the next iteration. For example:

- Should there be a small perpetual debasement (3-5%)? This is important to keep wealth evenly distributed and to always keep block rewards high enough to incentivize miners. It also serves as a check and balance to prevent centralization from within the network.

- Either no transaction fees ever, or fixed transaction fees (0.01% no matter what). Otherwise run the risk of escalating fees.

- Should there be a slower minting process? Bytecoin isn't even 2 years old and over 80% of its coins have been mined. If there was a good reason for this, I'd love to hear it.

- Should we limit pool sizes, to prevent large pools from taking too much network power?

- Must include a cross platform GUI miner out of the box that is super easy to use (think minergate, but open source, and for win/mac/linux). Should rapidly increase early adoption.

- Must also include a GUI wallet

[eizh]

In the same mindset of looking for things that are wierd . . why does this thread have 50225 views right now?

The other new threads only have a few hundred, but this one has enough to say it's been here for months, or longer.


Also, can I stress new coins with CN should have a type of fair launch difficulty? So many more eyes on these things now that anyone even thinking about mining something the first day is considered an instamining scammer. There's quite a bit of truth to the claim, from my point of view.

thankful_for_today, are we tied to CryptoNight as the hashing algorithm? CPU mining has the obvious problem of botnets. Moreover, someone somewhere will inevitably create a GPU miner for it and if they don't release it publicly, we'll have a fairness issue. I would prefer a known CPU+GPU mining algo from the start. X11 is a good candidate since GPU mining runs with almost 50% less power and CPU mining is 3x more effective relative to GPUs compared to scrypt.

[thankful_for_today]

Next week I will start my own fork of Bytecoin - another coin based on CryptoNote technology. It will be started from scratch (from block zero). I will write an anouncement today ot [ANN] subforum. Emission schedule will be more flat and block target will be reduced to 60 sec.

If we're going to create a bcn derivative, I think we need to have a serious community discussion about possible changes and improvements in the next iteration. For example:

- Should there be a small perpetual debasement (3-5%)? This is important to keep wealth evenly distributed and to always keep block rewards high enough to incentivize miners. It also serves as a check and balance to prevent centralization from within the network.

What do you mean by debasement in cryptocurrency?

- Either no transaction fees ever, or fixed transaction fees (0.01% no matter what). Otherwise run the risk of escalating fees.

Tx fee is important. It protects blockchain from spam. And it is quite low in all currency I know. Why change this?

Moreover, in BCN fee has a direct relation to anonymity degree via tx size. This is a good tradeoff for users.

- Should there be a slower minting process? Bytecoin isn't even 2 years old and over 80% of its coins have been mined. If there was a good reason for this, I'd love to hear it.

Slower minting process. Yes, I agree.

I know nothing about BCN plans and why they did this. The only thing we know - they are clever enough. I respect their decision even if I don't understand their reasons.

We have our right to make other decisions and as far as I understand CN dev team is ok about this.

- Should we limit pool sizes, to prevent large pools from taking too much network power?

How can this be done?

- Must include a cross platform GUI miner out of the box that is super easy to use (think minergate, but open source, and for win/mac/linux). Should rapidly increase early adoption.

- Must also include a GUI wallet

GUI is important, yes.

[Wanesst]

I still don't understand. Is it Italian coin? 

Unlikely. I've used google translate for the topics, they seem to be just discussing the coin. But why does Italian resource posts a review, just a coincidence?

Yes, I didn’t found other publications than this (Italian). I will watch the thread!

[Wanesst]

Thanks for link to minergate pool, it’s great! App is convenient and I want to see a same apps for solo-mining and wallets. What are you think it will be soon?

[Wanesst]

Giveaway still goes on. 108,235 coins left.
I send free BCN to all people who apply for it every day. Except those who provided me with BTE addresses.
PM your BCN address and I will check if I have sent you coins.

Excellent! I sent my address!

[The Figs]

I've been following this thread for a few days now. I decided to start mining less than 48 hours ago. Even for a noob, this is easy to mine as this is the first time I attempt this. But a GUI interface would be nice. Maybe an online wallet would be cool too 

[DStrange]

Guys! Let's do the blockexplorer!
Discussion here: https://bitcointalk.org/index.php?topic=563356

[whatsthestory]

I found a several links to discuss about Bytecoin and Cryptonote.

Adam Back wrote about Cryptonote in his twitter, this link to discuss https://twitter.com/adam3us/status/447105453634641921.

Ada Alternative who does www.mapofcoins.com and reviews about alt cryptocurrencies wrote about Bytecoin also, there is link https://twitter.com/Alternative_Ada/status/452092746962960384 and more in her twitter.

Adam Back is famous figure in cryptography and Bitcoin’s world and he began in 90s before Satoshi. And looks as he knows about Cryptonote a long-long time. Probably “anonymous” community aren’t so anonymous imo. What are you thinking about this?

[btc-mike]

In the same mindset of looking for things that are wierd . . why does this thread have 50225 views right now?
...

Probably like me. Interested in this origins of this coin.

[Rias]

So they do watch this thread lol.
danteT, do you have any connections with Bytecoin's devs? Why do they call you "our good friend"?

I found a several links to discuss about Bytecoin and Cryptonote.

Adam Back wrote about Cryptonote in his twitter, this link to discuss https://twitter.com/adam3us/status/447105453634641921.

Ada Alternative who does www.mapofcoins.com and reviews about alt cryptocurrencies wrote about Bytecoin also, there is link https://twitter.com/Alternative_Ada/status/452092746962960384 and more in her twitter.

Adam Back is famous figure in cryptography and Bitcoin’s world and he began in 90s before Satoshi. And looks as he knows about Cryptonote a long-long time. Probably “anonymous” community aren’t so anonymous imo. What are you thinking about this?

Hm, seems like Mr. Back believes that Cryptonote has "scientifically defensible rationale". Doesn't say that much about his attitude, but this is at least a proof from the expert that the technology is worth looking at. Or is he in it already?

[Johnny Mnemonic]

What do you mean by debasement in cryptocurrency?

A small annual increase to the money supply. A lot of folks are against it ("omg inflation"), but small debasements won't affect trade value and it keeps the wealth distributed by giving more back to the miners.

Tx fee is important. It protects blockchain from spam. And it is quite low in all currency I know. Why change this?

Spam protection is just about the only thing fees are good for, which is why I'm suggesting keeping it fixed. Fees are low as of now, when only 300k people use bitcoin. When tx volume increases 100x or 1000x, I imagine fees will escalate and can even become more expensive than current credit card processing fees, as it becomes a bidding war to get your tx on the next block. Also, if we have a debasement, we don't need to use fees to pay miners.

thankful_for_today, are we tied to CryptoNight as the hashing algorithm? CPU mining has the obvious problem of botnets. Moreover, someone somewhere will inevitably create a GPU miner for it and if they don't release it publicly, we'll have a fairness issue. I would prefer a known CPU+GPU mining algo from the start. X11 is a good candidate since GPU mining runs with almost 50% less power and CPU mining is 3x more effective relative to GPUs compared to scrypt.

I disagree 100%. The entire purpose of CryptoNight is to maintain decentralization within the network, something that bitcoin failed at miserably (and perhaps intentionally). CryptoNight is designed to have a linear cost/profit growth curve, so having better hardware is still advantageous, but the miners with the deepest pockets don't automatically get all the wealth.

I also fail to see how botnets are a greater issue than, say, large mining pools controlling more than 50% of the network. The biggest protection to botnets is lots and lots of miners, which should be much easier with an egalitarian pow algo like CryptoNight and easy, low-barrier mining tools that anyone can use.

[Spekulatius]

Ok, I wonder why no one has posted this yet:

http://www.reddit.com/r/bytecoin/

Its a private subreddit only members or moderators can view. So..any moderators here?

[Johnny Mnemonic]

New music on bytecoin.org, plus a shout-out to danteT!

For our good friend danteT