Topic: [ANN] Ebitz - 237 BTC in 8 days - POS - Zero Knowledge Proof - Deep Web - page 19. (Read 51494 times)

Interesting idea with Ebitz taking the Zcash concept in a different direction, I have just e-mailed the Ebitz group about it via their page. 

One comment, though, the Zcash setup cannot be assumed to be any good until it the results of it are audited - something that Peter Todd himself has acknowledged.

Specifically, he said, and I quote, "Until the software and deterministic builds are audited, the entire ceremony is a bunch of crypto hocus pocus that means nothing." (1)

(1) https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trusted-setup-ceremony#single-point-of-failure

You can contribute by participating in it's ICO,downloading and running the wallet and participate in it's trading to increase the volume.Ico is one of the most important stage in the development of a coin with a lot of features.

I'm not much familiar with altcoins but extrabyte when you have time please explain to us in details what does "3% annual interest" mean because I don't understand it well.

People who participate on bounties are quick to dump the coin they promote for bitcoin.It solves two problems,bounty hunter will have his bitcoin if he is not interested in the coin he promote,the second one is there will be no dumping of Ebitz and the value will increase because there's not much sell order.

Yes, you are right. We look forward to hearing more announcements from Emunie. It looks like a really innovative project.

By the way, the users already clarified his mistake:


Good luck and welcome!


You must know that the 90% of the users who claim for bounty rewards sell his coins for btc as soon as possible. That is why we are avoiding this step and directly paying much of our bounties with bitcoin. Those who are really interested, can use those bitcoin to buy ebitz.

Bye

First they ignore you, then they laugh at you, then they fight you, then you win. eMunie is far from dead.

Welcome!, Sorry i dont understand your question. The amount of each bounty (marketing, development, etc) are agreed with each individual user. We are using a lot of our own funds at this moments.



Thanks! and welcome aboard!


All the coins, we will distribute 95% with the ICO and as you can find in the specifications we have 3% annual interest.

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TheKB, how are you?, let me answer you each point:

1) About our development roadmap, as we said we are using the zcash code with three changes. This changes are particularly important and will allow the expansion of our project and his extensive use in dw. Zcash weaknesses were detected to create a better version. Plus to fork each zcash updates, we will add our own features to our project, not included in Zcash. We are not thinking about that, because is not the most important right now. We are open to suggestions like thezerg did. His suggestion is still valid and we will study about that. By the way we are open to more suggestions.

2) Sorry but I don havet answer for this, what is your specific question? 5% is really low amount of premine (the majority of project take 10-20 % as premine) and will be in a public address, so everyone could see if we spend it or not. The founder rewards on Zcash generate a sales pressure hard to maintain.

3) The agreements reached with each particular company will not be disclosed as it is obvious. But if you doubt the legitimacy of them you can consult with any of the companies named for the moment. We made a tweet to announce it and as far I know will be RT or comment for this companies to give it legitimacy (EDIT: Check https://twitter.com/BitLox/status/801621601280258049 - https://twitter.com/CoolBitXCOO/status/801697785300992000). More agreements will be revealed in the coming weeks. This is to create an ecosystem for Ebitz from the first day and to have a real use (and not be another useless coin).

4) It does not make sense, they are two different things. For the move we made with SebastianJu we use our own private funds and was a pretty low amount. If we reach our goal and we continue with our plans we will make some enemies for the nature of our proposal and that can become a witch hunt that we want to avoid. As we said before in our group are different views about this. But we have not made our final decision yet. During the weekend will be published our final decision. If our decision does not convince you simply do not invest in our solution.

5) It is quite the opposite, it is precisely because we have the contacts and the agreements that we need to create a proposal open to the public to give legitimacy to Ebitz. We do not want to create a closed sale like it was the case of Zcash but an open proposal for any user, that is the nature of Ebitz. It would do no good to create a closed proposal, it would have no use. As you know, we established a limit of 500 btc that we expect to achieve but still that amount is not excessive for the nature of our project. And as we said, we will contribute with our own funds (as we have already done) for the development of Ebitz.

Its a pleasure answer your questions, this will help to other users too.

Bye

There is a lot of action here and things are looking very good even before the crowdsale begins. I think the Chinese people will like this coin and it will be popular and it is all over the media, on twitter and other sites, so very nice start here, congratulations.

It might be better if you could give the exact amount of bounty.. at least percentage

Interested.

real real interestedc coin...good

real interested....what % is pos!?

Hey thanks for the warm welcome!

There is nothing to forgive, I just wanted to offer my advice and experience so that everyone had the full facts and hopefully prevent any future issues for either you or your ICO investors.

I'm more than happy to have that conversation, but alas, I see no way that it is possible to achieve on a block chain as there are multiple issues that I don't believe there are solutions for.  If there were I'm confident I would have solved it long ago and we would already have decentralized debit cards available across all cryptos.

Adding further to the prevalent block chain issues is the matter of the zkSNARKS required for ZCash anonymity.  Creating them on a JCOP card, even the latest v3 ones, is just impossible...orders of magnitude short in terms of processing power and memory. 

It may be possible to offload the generation of them to the merchant EFTPOS terminals as they generally operate some flavor of embedded linux and have more processing power and memory than the cards, but I haven't investigated that at all as its not relevant for our project.  However, I would still bet that the chances of success being very slim or it taking far longer than the 5-10 seconds that customers would deem acceptable to wait.

Anyway, I'll keep an eye on this thread for any posts that I can positively contribute to and good luck with the project

Hi,

Welcome Fuserleer!, its great to see you here. Forgive the confusion, that is not our official opinion. It's just a suggestion from an user, but I will delete it from the "More info" post to avoid any confusion. Its nice to see that your project is healthy. Clarifying this, we hope that we can live in harmony both projects. It would be great to have a chat with you. Regarding the possibility or not of obtaining it (decentralized debit cards), we are not debating it since it is not an official objective for the moment. Maybe in the future.

You are more than welcome to stay here and participate.

Good luck with your project.

OP, stop using

Hi,

and

Bye

in your posts. waste of words IMO.

other than that nice project if you don't run away with those 500 BTC you are going to collect in <24 hrs of ICO starting.

Hi,

This weekend we will announce our final decision, but as we said before, if we finally decide to use an escrow we will work with SebastianJu. But for the nature of our project we dont feel 100% comfortable working with an escrow, so in our group. There are different views on this but this weekend we will announce here our decision.

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Thanks samuraijin, cienki7 and qiwoman2 for the words, we are doing our best to make alliances before the starts. We expect to announce a few more during the campaign.

Bye

Someone brought this to my attention so I thought I'd comment to try and prevent another fiasco

First of all, eMunie is FAR from dead...I don't post about it on here much anymore as I tend to get heavily trolled because the tech has taken a long time and I don't have the time for the noise, nor to explain to said trolls that true innovative tech actually takes real resources to develop.

Secondly, let me save the devs some time, effort and investor money.  If you are simply creating a ZCash clone that is operating on a block chain, please don't waste your effort attempting to develop decentralized debit cards....you will fail as it can't be done.  To achieve it required that we developed completely new ledger and consensus technology that was designed to support it within the protocol itself.

Some might say, "Of course he's going to say that"...Take heed, another project recently announced that they were going to do the same thing, failed and burned a load of investors.

interesting project.
not too concerned about premine.
would be nice if escrow was set up in such a way as to pay specific amounts when specific milestones are achieved.

when you will decide if you are taking an escrow?