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Author Topic: [ANN][CRYPT] CryptCoin x11 + PoS | P2P Anonymity | 0% Premine | Commander  (Read 511919 times)
pr0m3theus2013
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July 25, 2014, 03:03:11 PM
 #5121

I WWil likely however assist mindfox if allowed with his anon. I prefer to leave our innovation in key.
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July 25, 2014, 03:04:42 PM
 #5122

Hey Pr0m,

So technically Key and Crypt has the same idea with ANON but the difference between them is Crypt will not be using master-nodes correct? It will be interesting to have both coins competing on the same level. Just hope crypt and Mindfox can get the developments finished and see these two coins fight in the market. Should be exciting!

 
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July 25, 2014, 03:05:38 PM
 #5123

So what is this hard to trace System based on? If key coin is almost secure so what crypt can offer?
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July 25, 2014, 03:08:52 PM
Last edit: July 25, 2014, 03:25:25 PM by DeViL303
 #5124

Regardless of random fee, the same can be done by looking at the transactions and simply guessing. However, a lot is done to eliminate the ability to guess because the coins are as i said split multiple times and re transacted all over the place inside the mixer nodes. it is pretty much 99.9% and as the tech is used it only improves as usage increases. If i can gain some kind of traction from mindfox I will see if the same system can be modified and implemented here. It's really up to mindfox and community funding.

I would say if the goal is to throw off law enforcement, they will always catch up to you somehow. If it was to hide another business from seeing your transactions, or to buy a bit of porn or something and not have your wife find out.. im sure there are many other uses. Then there is no one in hell they will catch it.

From what i gather, what makes it nearly impossible to trace is that the only way to tell a transaction came from 1 wallet to another is by looking at the amount of coin sent and looking in to the block and trying to find a wallet with that exact amount received in it. however, this is countered because the coins are split multiple times, mixed, and fresh coins are used from a mixer node to the receiving wallet. As the tech is used and transactions are being made, there really is no way of telling who sent it to anyone without simply guessing. There will be no direct link from wallet to wallet. Mindfox has yet to deliver this system, but we have such a system in place on KEY currently.

Ok, so in your mind key is already 99.9% secure? so what crypt bring to the market then?


If the only way to trace the transactions is by following the amounts,  has your team thought of implementing a random transaction fee setup, so the fee is always different, I know that how some tumblers like bitfog get around that problem of tracking in and out amounts.  

Ok, well I don't think many people are looking for "true anon" just to buy a bit of porn and hide it from the wife, but suppose it depends on the wife! I think a proxy and bitcoin tumbler/tor would be enough to hide the transaction from 99.9% of wives! Smiley

I think the only thing that would make one of these "anon" coins really take off would be if it was so secure that LE and Tax officers wouldn't be able to trace it, if this is only secure enough to stop the wife from finding out about porn buys, or a rival business from seeing your balance then its nothing special imo.

I would like to hear more suggestions of reasons for a person to want a hard to trace system if there are any?

because to me if this anon technology doesn't allow illegal activity then it really isn't very untraceable. Its only untraceable if LE don't get involved seems to be the pitch.


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July 25, 2014, 03:22:52 PM
 #5125

Regardless of what an individual uses it for it is extremely secure and the only way to track would be guess work.
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July 25, 2014, 03:23:25 PM
 #5126

Huge buys on Cryptsy. Somebody just bought 41544.14283510 Crypt. Good deal.
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July 25, 2014, 03:32:13 PM
 #5127

Regardless of what an individual uses it for it is extremely secure and the only way to track would be guess work.

well either the code is secure or its not, if it is then I should be able to avoid tax and buy drugs with that coin, it cant be "untraceable unless LE get involved" , that isn't an option, if LE can trace it, then some hacker somewhere will be able to do it to. So its either anon or its not anon, there is no "semi anon", it defies the definition of the word, its like saying "semi full" = not really full.     

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July 25, 2014, 03:36:26 PM
 #5128

Like I said previously. It would be total guess work to find the sending and receiving addresses and it would require that the coin have close to 0 transactions at the time the transfer was made.
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July 25, 2014, 03:40:40 PM
 #5129

Like I said previously. It would be total guess work to find the sending and receiving addresses and it would require that the coin have close to 0 transactions at the time the transfer was made.

Ok, fair enough, if it is literally "total guess work" then it IS 100% anon, because LE can not use "total guesswork" to obtain a warrant or lock someone up for tax evasion (just examples) , and nor can anyone else.


If it only works properly when lots of people are using it at the same time then its really no better of a solution than a coin tumbler with random fee and tor imo.

its the same as : how can someone trace my bitcoins when ive deposited some of my bitcoins and withdrawn a different amount of someone elses coins back out of a tumbler? total guesswork?

There is often a weak point in these mixing systems, and that is that somewhere in the world there must be a computer/s doing the mixing, and how can we trust that computer is not being monitored somehow.

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July 25, 2014, 03:53:13 PM
Last edit: July 25, 2014, 04:04:36 PM by Wasda
 #5130

Regardless of what an individual uses it for it is extremely secure and the only way to track would be guess work.

well either the code is secure or its not, if it is then I should be able to avoid tax and buy drugs with that coin, it cant be "untraceable unless LE get involved" , that isn't an option, if LE can trace it, then some hacker somewhere will be able to do it to. So its either anon or its not anon, there is no "semi anon", it defies the definition of the word, its like saying "semi full" = not really full.    

You can make 100% true anon coin (if you can) but in the end when converting coins to fiat you're not anon after all. you can use localbitcoins to avoid banks,irs,tax .. but what about businesses ?

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July 25, 2014, 03:57:38 PM
 #5131

There is often a weak point in these mixing systems, and that is that somewhere in the world there must be a computer/s doing the mixing, and how can we trust that computer is not being monitored somehow.

The biggest challenge is *how compromised* you can accept the system to be before enough information leaks. E.g. if it takes leaning on thousands of nodes spread around the world to get sufficient control to compromise anonymity then that's not 100% secure, but it will be secure enough that an sufficiently powerful adversary is more likely to resort to "rubber hose" attacks (that is: strap you to a chair, and beat you with a hose until you give them the info they want) than trying to take control of the system.

I'm not sure if we can even theoretically get 100% anonymity , but we don't have 100% secure crypto overall either - we have just decided on tradeoffs (key lengths that means it will take all the computing power on the planet "forever" with current technology to brute force it).

Even for security against law enforcement, it "just" need to be too expensive and difficult to be feasible. The only truly tricky adversary is the NSA, and not too many people give a shit whether or not the NSA is monitoring their stuff apparently.

Ultimately I think a lot of this is down to appearance. TOR is a favourite with people with shady intent, yet there are numerous well known attacks (involving controlling enough nodes, typically), or simply leaning on node operators to cooperate with "requests". It's popular because people trust that it will be mostly safe, and certainly better than the alternative, and because it has good PR (from a "protect yourself against law enforcement" viewpoint).
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July 25, 2014, 04:01:54 PM
 #5132

That's why anon without mix node (middle man) is the way to go.. hopefully mindfox's 'hard-to-trade' will be the first to achieve that.

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July 25, 2014, 04:12:59 PM
 #5133

That's why anon without mix node (middle man) is the way to go.. hopefully mindfox's 'hard-to-trade' will be the first to achieve that.

lol, it would be funny if he really did implement a hard to trade system, some might say he already has as its hard to trade with any volume right now!  but I know what you mean! Wink

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July 25, 2014, 04:21:54 PM
 #5134

Regardless of what an individual uses it for it is extremely secure and the only way to track would be guess work.

well either the code is secure or its not, if it is then I should be able to avoid tax and buy drugs with that coin, it cant be "untraceable unless LE get involved" , that isn't an option, if LE can trace it, then some hacker somewhere will be able to do it to. So its either anon or its not anon, there is no "semi anon", it defies the definition of the word, its like saying "semi full" = not really full.    

You can make 100% true anon coin (if you can) but in the end when converting coins to fiat you're not anon after all. you can use localbitcoins to avoid banks,irs,tax .. but what about businesses ?

I don't know, but if that is the problem with anon (converting to fiat) then how does crypt or any anon coin help, seems bitcoin is already 99% anon with tumbler and tor and the hard part is converting back to fiat?

I suppose if the coin is 100% anon, then someone who is legit can just cash it in anywhere and claim they got it legally, launder it basically, same like any illegal money, thing is it needs to be 100% untraceable for that to work, 99% untraceable wont do if its drug miney. 

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July 25, 2014, 04:24:11 PM
 #5135

That's why anon without mix node (middle man) is the way to go.. hopefully mindfox's 'hard-to-trade' will be the first to achieve that.

lol, it would be funny if he really did implement a hard to trade system, some might say he already has as its hard to trade with any volume right now!  but I know what you mean! Wink

LOL.. i didn't even see that, typo.. that's funny

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July 25, 2014, 04:26:36 PM
 #5136

Regardless of what an individual uses it for it is extremely secure and the only way to track would be guess work.

well either the code is secure or its not, if it is then I should be able to avoid tax and buy drugs with that coin, it cant be "untraceable unless LE get involved" , that isn't an option, if LE can trace it, then some hacker somewhere will be able to do it to. So its either anon or its not anon, there is no "semi anon", it defies the definition of the word, its like saying "semi full" = not really full.    

You can make 100% true anon coin (if you can) but in the end when converting coins to fiat you're not anon after all. you can use localbitcoins to avoid banks,irs,tax .. but what about businesses ?

I don't know, but if that is the problem with anon (converting to fiat) then how does crypt or any anon coin help, seems bitcoin is already 99% anon with tumbler and tor and the hard part is converting back to fiat?

I would think CRYPT will be better than any other anon coin because it doesn't rely on node. but yeah the problem is still converting to fiat. i think that's why mindfox say true anon is not possible.

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kitey
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July 25, 2014, 04:28:35 PM
 #5137

why would you want to ?

surely the procedure is

Fiat -> BTC -> Anon Coin -> Buy Shit ?

DeViL303
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July 25, 2014, 04:30:14 PM
 #5138

why would you want to ?

surely the procedure is

Fiat -> BTC -> Anon Coin -> Buy Shit ?



well the person you buy shit off is maybe going to want to go back to cash, its not all about the buyer, for a coin to work it needs to suit the seller too..

Wasda
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July 25, 2014, 04:31:02 PM
 #5139

why would you want to ?

surely the procedure is

Fiat -> BTC -> Anon Coin -> Buy Shit ?



well the person you buy shit off is maybe going to want to go back to cash, its not all about the buyer, for a coin to work it needs to suit the seller too..
+100 agreed

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kitey
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July 25, 2014, 04:31:16 PM
 #5140

why would you want to ?

surely the procedure is

Fiat -> BTC -> Anon Coin -> Buy Shit ?



well the person you buy shit off is maybe going to want to go back to cash, its not all about the buyer, for a coin to work it needs to suit the seller too..
then isn`t it ?

Sell Shit -> Anon -> BTC -> Fiat

am i missing something here man ?
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