Topic: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA - page 222. (Read 1266559 times)

If it is anon then how would you or anyone for that matter know if you assisted in money laundering...

+1 absolutely essential stuff.

These are questions that must be answered in a very clear and honest way. Not just for CLOAK but for every coin out there.
Crypto has fundamentally different operation than fiat and that needs to be thoroughly explained to people who seek a "central authority" to place their trust with (questions 2, 4, 6)

Also, with anonymity there is a thin line between exercising my right of privacy and money laundering (question 3). This needs to be addressed for crypto enthousiasts as well.

When is Onemarket being released?

You dont have to use POSa you can use normal transactions like bitcoin do! POSa is a addon for someone who want annon transactions! So dont check the window with POSa and send cloaks without anon, like with bitcoins.

+1 on these questions, they do need to be simplified for average Joe.

I am. To get this stuff out into the mainstream there are dozens of questions we need to have immediate and sound answers for. With my "regular Joe the consumer" hat on, how about these questions that are likely to come from someone completely new to Crypto be discussed and considered?

1. (A likely scenario) "My friend told me all about CloakCoin and I downloaded the wallet. He sent me a few Cloak to get me started. And now he showed me how to buy BTC at an exchange, convert it to Cloak and now we transferred it to my wallet. I'm really excited about this! But my tech friend's gone away. I forgot to ask him, if I'm buying something from a website in Cloak and I use PoSA, how do I know that they've received my payment?"

2. "And what if they say they didn't receive it? Who do I contact to find out what's happened to my Cloak I sent?"

3. "I read the PoSA explanatory non-technical PDF, I think it's really cool. What if my coins get exchanged with a criminal or terrorist organisation while they're being cloaked? Have I committed a money laundering crime?"

4. "and my friend told me about OneMarket, I can't wait to use it. You know on eBay you get 'buyer protection' if you don't receive your stuff. How will that work on OneMarket? Like, how will you know if the party you're buying from really did receive your payment? And if I'm selling stuff on OneMarket and the buyer says they didn't receive the shipment does the Escrow system within PoSA help protect me from them claiming they haven't received the shipment when they have?"

5. "And will there be an on-line wallet so I don't have to worry about backing up my wallet and my laptop crashing?"

6. "I heard you get 'interest' on your wallet balance. Who's paying that, Cloak?"

7. "If my laptop does crash and I haven't backed up my wallet can I still get my coins back from the block chain somehow?"

8. "When I installed the wallet it took a long time to synchronise the download. Someone told me eventually Bitcoin and other cryptos will be unusable because the block chain will be too big. Is that right?"

9. "What happens if the Cloak developers go out of business, will my Cloak become worthless?"

10. "I'm really worried about my laptop being hacked. Are there viruses that can get my Cloak? What can I do to stop this?"

Edit: Fixed Q1 buying BTC from exchange, than converting it to Cloak then sending it to wallet.

zzzzz no one interested is discussing features of posa v2....

On Mintpal try withdrawing 1 CLOAK to an address. If it is a Mintpal address it will say, "Sorry, you can't send coins to another Mintpal address."

Bittrex I'm not sure if there is an easy way to tell.

No more coins are being produced, therefore there is no inflation. The 6% is based on fees collected for being a node/wallet.

Because it's unthinkable that anyone would be trying to accumulate cheap Cloak coins right now, right??

I didn't realize you were able to distinguish which wallets were exchanges.  Can you tell me how? Oh wait, you can't and have been FUDing for awhile now.  Look at his previous posts.  Nice try jorrr.

it's the exchange, everyone is dumping

I suppose one reason to hoard CLOAK is to run POSA nodes and get fees on that. At least that's some "holding pressure".

I love everything about cloak except the 6% interest. Why would I hold it as a store of value? Even fiat inflation is only around 2-3% in more developed nations. Cloak please consider an interest rate of 1% like blackcoin. If economic growth is 2% and inflation 1% not only would I hold Cloak as a store of value, it should, ignoring a lot of other things, be an "increasing store of value".

Will have to use something else for "crypto savings"/store of value, and just buy this to use as medium of exchange, speculative toy, or for use on onemarket.

So in the example Bob sends cloak to Alice via Richard, would it not be more effective if it was something like, Bob > Richard,Max,Jane,Mary > Alice. IE the transfer is split across multiple posa nodes? Or is it just explained like this for simplicity sakes.

Edit: Also the example speaks of the possibility Alice is a spy, what if Richard is the spy.

Actually the non technical pdf is great. It makes a very complex transaction easy to understand. I'm a web dev for 20yrs now but don't know the first bit of C++, sure I can look through src files and see whats going on but I dont need all that to know that cloak works. I will let the experts do their thing.  non technical pdf is GOOD.

Anyway, here is the news of the day




(NON technical PDF - because it is not so obvious for some  )

The sad truth is..it won't stop. DRK trolls FUD has impacted the price of this coin and they see that and are encouraged to come back more and more. Same with other competing coin trolls as well. It wont stop.

thing to keep in mind

-everyone is talking about cloak

whether you love it or hate it, i've never seen any other coins stir the pot like this, other than maybe DOGE, which did make waves, but had no real plan so it was no surprise that it fizzled out.

seems like this coin is the talk of the town, and block escrow hasn't even been released yet, and the PR campaign hasn't even begun.

hold on to yer butts

There have been plenty of examples of people from here writing excessively negative posts over in the DRK thread. I've been reading both of them for a long time. It's terribly wearing. Any of us that are serious want serious discussion about the coin's development and future; that's what this is about. Both DRK and  CLK have enourmous potential but they can also easily be wiped out by a serious technical failure or a malicious hack/concerted take-down. It's very early days and what we need to do is focus, focus, focus on getting a clear and concise message out to help bring more investors and greater thoroughness. Many people here are trying to do that. Many people over in the Dark camp are the same; but on each side there are a handful just caught up in complete and utter stupidity of quoting half-truths (or often no-truths) and throwing mud around in the hope some of it will stick. That's just a recipe for intelligence substantial people to leave and nit come back.

Focus on what is good about Cloak and forget about talking DRK (or any other coin) down. And if people come here to put shit on Cloak, competently correct their mis-assertions and stay focussed on Cloak's outstanding features and benefits.

That's how this coin will become wildly successful.

Yes I agree. It is getting so tiresome sifting through pages of crap for a few good posts.