[ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA

[HoldTheLine]

i'm potentially going to invest in cloak, but can someone address some of these concerns that i've seen on reddit?

1
 -No proof of technical details. The whitepapers are very vague and contain no groundbreaking details. Details that would be potentially groundbreaking, like how PoSA works or how the OneMarket protocol works are glossed over. The FAQ gives half-assed answers.
2
 -The client is nothing more than Bitcoin-QT with integrated API trading. No stealth transaction functionality.
3    
-The dev(s) are completely anonymous.
4
-Users on Bitcointalk have complained about critical posts deleted in the CloakCoin announcement thread
5  
-The PoW stage lasted 7 days, which means the dev(s) could have mined a large portion of the total coins. Some miners reported seeing 20 GH/s on the network immediately. This is effectively a premine dump.
6    
-I can't find much original code in the Github repo. It seems like it's all code copied from Bitcoin-qt and related repos with minor modifications. Certainly no code for the alleged groundbreaking algos in CloakCoin.
7  
-The site is all talk and no show. The vague whitepapers, the snazzy meaningless graphics, the pointless youtube videos under "development," and the lack of technical discussion in the community.
8
and these technical questions as well:
- how do you prevent blockchain bloat if nodes are sending dust to each other all the time?

- if staking coins are spent to mix/forward txs to recipients, then how can you trust the nodes won't steal coins instead of forwarding them?

- if new addresses are mined to anonymise transactions, then how do you avoid losing transactions due to orphaned blocks?

- alternatively if you wait for the blocks to mature, then how do you avoid long transaction times?


thanks

Hey Montreal,

The person who posted this is a FUDpacker and is no doubt one of the competing currency's cultists.
1
-The current whitepaper gives a general overview of the PoSA process. The anon implementation is an extension to the proof-of-stake protocol; Hence why it is called PoSA. If a wallet is open and staking it is contributing to the PoSA protocol. Think of PoSA staking as a similar concept to turning on your tor browser. An in-depth technical whitepaper is on the way.
2
-There is an anonymity protocol in CloakSend 1.0. The developers discovered a unique approach to anon that blew anything they thought of originally out of the water with CloakSend 2.0 (PoSA - Proof-of-Stake Anon)
3
-Yes, the devs are anonymous. This is an anonymous currency. The respect for individual privacy is a core foundation of Cloakcoin. Our holders should have the same respect for privacy that Cloakcoin provides them financially. Besides the most successful crypto currency is from an anonymous developer (Satoshi)
4
-No critical post get deleted. The posts that are erased from the world are ones that don't contribute to the development of a privacy focused cryptocurrency. Fear, Unproven, Doubt (FUD) are baseless accusations made by individuals and sometimes groups of individuals with the sole purpose to discredit/degrade a coin developers efforts; Furthermore, these accusations usually have a financial agenda driving them. The FUDpackers mission is to create a panic sale so that the price of the coin can drop to a level that's affordable for them to enter the market. Healthy criticism is always welcome in the Cloak community and is usually a precursor to technical debate.
5
-The coin was pre-announced and this gave miners plenty of time to point their rigs at mining pools. The was no pre-mine and nobody is paying these developers to develop this currency. If people didn't believe in mining the coin at launch then that's their own fault. Using the coin's development team as scapegoats for their ignorance in making an investment call is piss poor. Short PoW periods are meant to save overall energy costs by moving the coin as quickly as possible into the PoS scheme. The majority of the features of this coin are PoS related so it would make sense that there would be a shorter period vs a longer one so the devs could begin working on the new features.
6
-Of course this is a Bitcoin fork. What you are seeing is the initial commit of the 1st Cloakcoin source release. We are keeping the innovative features closed source for a time to protect the investors of the coin. In this space there are too many copycat operations stealing innovation. The source will be opened in the future and we are currently looking for a qualified candidate to audit PoSA. We will post an independent audit when we have found an acceptable candidate.
7
-I would suggest going through the website and downloading the whitepapers. They are meant for the general public to understand the direction the coin is heading. The OneMarket paper is technical and you're more than welcome to study it so you can get a better idea of what Cloak can offer you as a holder. http://www.cloakcoin.com/onemarket.pdf. As stated in answer 1 a technical paper is coming that will put any of these FUDpackers to rest.

8
The XC PR guy was in here earlier asking similar questions. We are not at liberty to release this information at this time. I would suggest you wait for the technical whitepaper as it will answer your questions and offer an in-depth comparison of the other approaches to anon.

Every time that someone come to this thread an put some technical questions and doubts about cloak no one is able to give a good technical answer. It seems that many people are hidden something bad here. PoSa is as thing that only a few people with a connection to the dev team know. Any ordinary person that comes to this thread don´t have access to the details. In the IRC the same is happen. Everybody is trying to hidden something. With this lack os transparency this coin will die quickly. The devs are trying to put the price up with the poSa promise and then will cash out the cloaks and left the coin. Very very similar to other coins. Maybe I'm wrong, maybe. The future will say who is right or not...

Why don't you check out the IRC and analyse the evidence you will be provided by any number of beta testers? We all know you have no interest in actually receiving any information; the only thing worse than that FUD attempt is your poor grasp of the English language.

[mpmsvv]

i'm potentially going to invest in cloak, but can someone address some of these concerns that i've seen on reddit?

1
 -No proof of technical details. The whitepapers are very vague and contain no groundbreaking details. Details that would be potentially groundbreaking, like how PoSA works or how the OneMarket protocol works are glossed over. The FAQ gives half-assed answers.
2
 -The client is nothing more than Bitcoin-QT with integrated API trading. No stealth transaction functionality.
3    
-The dev(s) are completely anonymous.
4
-Users on Bitcointalk have complained about critical posts deleted in the CloakCoin announcement thread
5  
-The PoW stage lasted 7 days, which means the dev(s) could have mined a large portion of the total coins. Some miners reported seeing 20 GH/s on the network immediately. This is effectively a premine dump.
6    
-I can't find much original code in the Github repo. It seems like it's all code copied from Bitcoin-qt and related repos with minor modifications. Certainly no code for the alleged groundbreaking algos in CloakCoin.
7  
-The site is all talk and no show. The vague whitepapers, the snazzy meaningless graphics, the pointless youtube videos under "development," and the lack of technical discussion in the community.
8
and these technical questions as well:
- how do you prevent blockchain bloat if nodes are sending dust to each other all the time?

- if staking coins are spent to mix/forward txs to recipients, then how can you trust the nodes won't steal coins instead of forwarding them?

- if new addresses are mined to anonymise transactions, then how do you avoid losing transactions due to orphaned blocks?

- alternatively if you wait for the blocks to mature, then how do you avoid long transaction times?


thanks

Hey Montreal,

The person who posted this is a FUDpacker and is no doubt one of the competing currency's cultists.
1
-The current whitepaper gives a general overview of the PoSA process. The anon implementation is an extension to the proof-of-stake protocol; Hence why it is called PoSA. If a wallet is open and staking it is contributing to the PoSA protocol. Think of PoSA staking as a similar concept to turning on your tor browser. An in-depth technical whitepaper is on the way.
2
-There is an anonymity protocol in CloakSend 1.0. The developers discovered a unique approach to anon that blew anything they thought of originally out of the water with CloakSend 2.0 (PoSA - Proof-of-Stake Anon)
3
-Yes, the devs are anonymous. This is an anonymous currency. The respect for individual privacy is a core foundation of Cloakcoin. Our holders should have the same respect for privacy that Cloakcoin provides them financially. Besides the most successful crypto currency is from an anonymous developer (Satoshi)
4
-No critical post get deleted. The posts that are erased from the world are ones that don't contribute to the development of a privacy focused cryptocurrency. Fear, Unproven, Doubt (FUD) are baseless accusations made by individuals and sometimes groups of individuals with the sole purpose to discredit/degrade a coin developers efforts; Furthermore, these accusations usually have a financial agenda driving them. The FUDpackers mission is to create a panic sale so that the price of the coin can drop to a level that's affordable for them to enter the market. Healthy criticism is always welcome in the Cloak community and is usually a precursor to technical debate.
5
-The coin was pre-announced and this gave miners plenty of time to point their rigs at mining pools. The was no pre-mine and nobody is paying these developers to develop this currency. If people didn't believe in mining the coin at launch then that's their own fault. Using the coin's development team as scapegoats for their ignorance in making an investment call is piss poor. Short PoW periods are meant to save overall energy costs by moving the coin as quickly as possible into the PoS scheme. The majority of the features of this coin are PoS related so it would make sense that there would be a shorter period vs a longer one so the devs could begin working on the new features.
6
-Of course this is a Bitcoin fork. What you are seeing is the initial commit of the 1st Cloakcoin source release. We are keeping the innovative features closed source for a time to protect the investors of the coin. In this space there are too many copycat operations stealing innovation. The source will be opened in the future and we are currently looking for a qualified candidate to audit PoSA. We will post an independent audit when we have found an acceptable candidate.
7
-I would suggest going through the website and downloading the whitepapers. They are meant for the general public to understand the direction the coin is heading. The OneMarket paper is technical and you're more than welcome to study it so you can get a better idea of what Cloak can offer you as a holder. http://www.cloakcoin.com/onemarket.pdf. As stated in answer 1 a technical paper is coming that will put any of these FUDpackers to rest.

8
The XC PR guy was in here earlier asking similar questions. We are not at liberty to release this information at this time. I would suggest you wait for the technical whitepaper as it will answer your questions and offer an in-depth comparison of the other approaches to anon.

Every time that someone come to this thread an put some technical questions and doubts about cloak no one is able to give a good technical answer. It seems that many people are hidden something bad here. PoSa is as thing that only a few people with a connection to the dev team know. Any ordinary person that comes to this thread don´t have access to the details. In the IRC the same is happen. Everybody is trying to hidden something. With this lack os transparency this coin will die quickly. The devs are trying to put the price up with the poSa promise and then will cash out the cloaks and left the coin. Very very similar to other coins. Maybe I'm wrong, maybe. The future will say who is right or not...

Why don't you check out the IRC and analyse the evidence you will be provided by any number of beta testers? We all know you have no interest in actually receiving any information; the only thing worse than that FUD attempt is your poor grasp of the English language.

This thread is full of newbie profiles saying good things about cloak. I know that my english isn´t good. But it's difficult to talk more than 3 languages everyday. English is the worst i know. I'm not making personal attacks. People here and also on the IRC like to make personal attacks when the opinion of others is different. This is rude!!!

[mikerutch]

This thread is full of newbie profiles saying good things about cloak. I know that my english isn´t good. But it's difficult to talk more than 3 languages everyday. English is the worst i know. I'm not making personal attacks. People here and also on the IRC like to make personal attacks when the opinion of others is different. This is rude!!!
[/quote]

ok buddy relax, its clear you got burned bad on gpucoin and leafcoin you don't need to spread your bs here.... go invest in other alts like your previous winners.

[HoldTheLine]

This thread is full of newbie profiles saying good things about cloak. I know that my english isn´t good. But it's difficult to talk more than 3 languages everyday. English is the worst i know. I'm not making personal attacks. People here and also on the IRC like to make personal attacks when the opinion of others is different. This is rude!!!

Your opinion is not sacred. It is about time people like yourself realized this. You do not have a right to say whatever you please and think yourself beyond reproach. If you decide to commit to text a load of unsubstantiated nonsense I, and the others here, will spurn you for it - every time. This is not rude. Rude is entering the Cloakcoin thread and attacking the character of the developers with your spurious claims. Not only is it plain for all to see that you are disingenuous in your 'concerns' and that you more likely than not do not hold any Cloak; but it is extremely sad to think you navigated to this thread, wrote down a series of poorly worded, ill thought out mutterings and honestly expected to be taken seriously yet alone treated with respect. Shame on you and those like you whose uncalled for and baseless fear mongering is a stain on this forum and an insult to the intelligence of those who come here for actual information.

[gorgo]

This thread is full of newbie profiles saying good things about cloak. I know that my english isn´t good. But it's difficult to talk more than 3 languages everyday. English is the worst i know. I'm not making personal attacks. People here and also on the IRC like to make personal attacks when the opinion of others is different. This is rude!!!

Please stop quoting all the answers every single time.

Devs have proven they deliver announced features. At least enough for some people to trust them with their investment.
Investing in cryptocurrencies is your voluntary choice and there is always (as in any investment in this profit range) a high risk attached to it. From reading your older posts it seems you have no interest in participating in this thread other than raising doubts.

[Doublethink]

This thread is full of newbie profiles saying good things about cloak. I know that my english isn´t good. But it's difficult to talk more than 3 languages everyday. English is the worst i know. I'm not making personal attacks. People here and also on the IRC like to make personal attacks when the opinion of others is different. This is rude!!!

I think you make a lot of assumptions.
Just because you perceive something a certain way doesn’t mean it is true.
It is healthy to be skeptical, but you sir, are clearly fudding.
A few post ago you claimed POSA didnt existed and the devs got nothing to show.
Now there is a demonstrating video of POSA in action, but you don't talk about that now do you?
 

[mpmsvv]

This thread is full of newbie profiles saying good things about cloak. I know that my english isn´t good. But it's difficult to talk more than 3 languages everyday. English is the worst i know. I'm not making personal attacks. People here and also on the IRC like to make personal attacks when the opinion of others is different. This is rude!!!

Please stop quoting all the answers every single time.

Devs have proven they deliver announced features. At least enough for some people to trust them with their investment.
Investing in cryptocurrencies is your voluntary choice and there is always (as in any investment in this profit range) a high risk attached to it. From reading your older posts it seems you have no other interest in participating in this thread other than raising doubts.

Yes, I have doubts. I will wait and see. The future will say who is wrong and who is right. I was raising doubts but any of them had a good answer.Like others like me asking for technical questions. No one is able to give a good technical explanation. Sorry guys to raising doubts and you don´t like doubts and starting offense people. It's not my way to talk with people. You need to listen and make good argumentention, preferably showing results..

[humski]

mpmsvv, please read what you've been posting all over the place. You have been rude without prior research, claiming and spreading FUD without reading anyone's post properly. None of anyone's response is an attack on you due to your opinion, but rather your opinion is that of an uneducated spoiled brat who had the answers right in front of you the whole time. You didn't like what you've read, even when you've heard from bets testers about PoSA, you look at all things pessimisticly. You shouldn't even be here.

Like mikerutch has mentioned, you look to have been burned badly with your poor knowledge when investing into GPUCOIN and LEAFCOIN, which in turn was a MASSIVE LOST for you. And everyone here would rather like you to invest elsewhere if you keep on posting like an immature 12 year old. I couldn't care less how good your English is or you speak 3 languages everyday, cause I speak 5 languages.... fluently.

It would be best for you to sell what you have of cloak and move on.

[YackBallz]

Yes, I have doubts. I will wait and see. The future will say who is wrong and who is right. I was raising doubts but any of them had a good answer.Like others like me asking for technical questions. No one is able to give a good technical explanation. Sorry guys to raising doubts and you don´t like doubts and starting offense people. It's not my way to talk with people. You need to listen and make good argumentention, preferably showing results..

I think something is being lost in translation. It's hard to determine if you have any purpose for being here in the first place. If you don't like what you see, why are you still here arguing about the validity of your opinion? Expecting people to hold your hand is a tough way to make decisions. I wish you luck in life and safety from the fear you openly share about tough decisions.

[mpmsvv]

mpmsvv, please read what you've been posting all over the place. You have been rude without prior research, claiming and spreading FUD without reading anyone's post properly. None of anyone's response is an attack on you due to your opinion, but rather your opinion is that of an uneducated spoiled brat who had the answers right in front of you the whole time.

Like mikerutch has mentioned, you look to have been burned badly with your poor knowledge when investing into GPUCOIN and LEAFCOIN, which in turn was a MASSIVE LOST for you. And everyone here would rather like you to invest elsewhere if you keep on posting like an immature 12 year old. I couldn't care less how good your English is or you speak 3 languages everyday, cause I speak 5 languages.... fluently.

Yes I was a MASSIVE LOST of 0.05 btc in GPUCOIN. It's the end of my life!! ohh poor life!!

[humski]

Is that all you come back with? Hahaha you imbecile. Must've been dropped on the head as a kid. Ignored.

[youngmike]

mpmsvv is what I call "smart FUD". Acting like an intelligent investor but probably he is some other coin fan with connections to dev team trying to steal blueprints of PoSA. Scared of course, his anon is soon going to be obsoleted by PoSA.

[mpmsvv]

Is that all you come back with? Hahaha you imbecile. Must've been dropped on the head as a kid. Ignored.

When you have nothing more to say you do personal attacks. I can live with that. Don´t worry and don´t be nervous. It´s bad for your health..

[smokim87]

Is that all you come back with? Hahaha you imbecile. Must've been dropped on the head as a kid. Ignored.

When you have nothing more to say you do personal attacks. I can live with that. Don´t worry and don´t be nervous. It´s bad for your health..

Ignorance is bliss

[igor107th]

please let cloak be cloak dont talk to match wayt and see MOON or
wayt and loose sum money lol 50% change i go for
100% and dont sell my cloaks i buy a house I hope 10 dollar Lol
for wife and kids  And drink A verry good cocktail other wise
a pay the rent of my house and loose som money we will see
i have fait in cloak dev good job (DONT LET US DOWN)
POR ENGLISCH FOR A OLD MAN LIKE ME LOL 39
AND DONATE SOME FOR THE DEV AND THC HE LOST
MANNY CLOAKS THANK GREETS A OLD MAN  

[JeffK]

We are going up, stop FUD !

[StephenJH]

mpmsvv,
Have you gone to IRC to ask your PoSA questions or are you still here asking other people to do your research for you?

I'll make it simple for you.
1. You send coins.
2. Cloak the magic dragon incinerates the evidence.
3. Manbearpig is destroyed and we are once again, safe.

Cloakcoin already has better features than all other alts combined. TOR, Cloaktrade, Cloaksend 1.0... Dev's have delivered on all their promises to date in my opinion. I've been trading alts since LTC was 40 cents and CLOAK is my fav of the many kinds of coins I invest in.
 

[BTCat]

Can we get back on track and type something usefull for Cloak? This doesn't help anyone and insults only degrade yourself.
Rather spend your time for developments, there's much things to do. Ignore trolls, you're only feeding them what they are after.

[mpmsvv]

mpmsvv,
Have you gone to IRC to ask your PoSA questions or are you still here asking other people to do your research for you?

I'll make it simple for you.
1. You send coins.
2. Cloak the magic dragon incinerates the evidence.
3. Manbearpig is destroyed and we are once again, safe.

Cloakcoin already has better features than all other alts combined. TOR, Cloaktrade, Cloaksend 1.0... Dev's have delivered on all their promises to date in my opinion. I've been trading alts since LTC was 40 cents and CLOAK is my fav of the many kinds of coins I invest in.
 

Stephen thanks for the advice. It's good to see people answer with good education. I will seat and wait for the coming news/developments of this coin. Then I will recognize if I'm wrong or not...

[StephenJH]

"I will seat and wait for the coming news/developments of this coin. Then I will recognize if I'm wrong or not..."

I think that's smart. Considering 99% of the other coins in this forum cloak seems to be as safe a bet as any.