Topic: [ANN] TRESTOR - The Most Efficient Money, Payment And Market System In The World (Read 3972 times)

lol if you send me the 650euros, I will consider Greece has paid what it owes me personally through their numerous loan.
thanks a lot in advance

No need to disclose salaries or expenses that way. At least the Ethereum Foundation disclosed that...not that I think they have been wise with their use of the proceeds raised.

Trestor Foundation isn't found in either the Canadian or Indian business registry. What a joke.

Forwarding nodes help to balance the load. If you want to have a client that does not have a full ledger on its own, like a phone app, you need a service to consult for account information. This is equivalent to services like Blockchain.info in the Bitcoin world. We think that a full client is not the right solution for most users, so made this part of the protocol. This has the advantage that in the future, app users can freely configure which forwarding node to consult, because they are all using the same protocol.

tl;dr: In Bitcoin language, a forwarding node would be a full node (having full ledger copy) which is not mining (in our case voting).

Everybody can run validator and forwarding nodes, which have a full copy of the ledger.

Yes. But you need a lot of resources, because validator nodes require deposit. It is analogous to buying a lot of mining hardware and overtake Bitcoin mining.
                                 
Random here does not mean “connect to any node”, but select nodes in a mathematically random way from the full list of nodes. The full list of nodes is literally public, because deposit accounts are listed in the ledger.



If anything remains unclear, feel free to ask more specific questions. Note that the project is under active development and more detailed documentation will be released over time, of course.

Read the white paper, have a few questions. Would greatly appreciate if the team could clarify.

Section 2) Tnet) please further explain the need and role of Forwarding nodes.
                        Can wallet nodes directly communicate with Validator nodes?

Section 3.1) Sync) Is the ledger public or only shared by Validator nodes?
                            Do all the Validator nodes have a complete copy of the ledger?

Section 3.2) Deposits) If i'm an attacker with resources, is it possible to create multiple Validator nodes at the same time, wait 6 hours and then attack the system?
                                 
Section 3.3) Redeem) Would this result in the formation of independent clusters of Validator nodes or a network where all the nodes are not directly connected but are connected at different levels to each other? Kind of like six degrees of Kevin (https://oracleofbacon.org/) 

Dear Coinking,

Banks won't open till Monday and capital controls will not be lifted anytime soon. 

http://www.bloomberg.com/news/videos/2015-07-14/will-more-austerity-jump-start-the-greek-economy-

Our offer is open to all credit-worthy Greek citizens.

Nice promo work there Trestor team. Can I assume those 2000 Euros worth of Trests aren't going to Greeks now?

I like the transparency

You can get Trests at a Trestor Retail Partners location (trestor.org/locate-retail-partners) or online (trestor.org/get-trests).

How can I get this coin?

How we are helping Greeks escape capital control:

https://trestor.org/blog/greece/ (English)

https://trestor.org/blog/greece-greek/ (Greek)

Related interview: http://cointelegraph.com/news/114749/trestors-2000-crypto-loans-could-beat-bitcoin-at-aiding-greece

Today's article on Bitcoinist: http://bitcoinist.net/trestor-foundation-provides-solution-greece-capital-controls/

Trestor Team
@trestorconnect
www.trestor.org

Stephan discussing Trestor project:

http://youmeandbtc.com/podcast/coin_cube-founder-robert-allen-and-trest-developer-stephan-ymb-podcast-e80/


Trestor Team
@trestorconnect
www.trestor.org

Nice work. Definitely going to keep an eye on this one   

Thank you for the feedback. They are group pictures it would be hard to add the name of each team member depicted to the OP.
But you can see all of our core team members on our website with their names and LinkedIn profiles: https://trestor.org/about-us.

I predict losses of Bitcoin for any one to invest in it. I feel no security with the photos such a team that has no name.

Dear canth,

It's very refreshing to answer your logical questions, most people don't care about doing their homework, we really respect the time you have spent in digging out the legal facts here.

1. Sub section (b) is not applicable to our RPs or Trestor Foundation because of 2 reasons:
 
   a. There is no administrator
   b. RPs don't qualify as receiving financial institution

Reference: https://www.law.cornell.edu/cfr/text/31/1010.100

2. Sub section (c) is not applicable to our RPs, but may be applicable to Trestor Foundation, however,  we are very confident that our compliance   narrative is bullet-proof

Most important thing to understand here is what FinCEN thinks about its own guidance: 

This guidance explains only how FinCEN characterizes certain activities involving virtual currencies under the Bank Secrecy Act and FinCEN regulations. It should not be interpreted as a statement by FinCEN about the extent to which those activities comport with other federal or state statutes, rules, regulations, or orders.

FinCEN recognizes that the actual indictment probability arising from these guidance is low, not only because of overlapping laws but also because of definition complexity.

Trestor Team
@trestorconnect
www.trestor.org

 

I don't want to argue and I'm sure that you've vetted this with some lawyer, but suffice to say that I don't think this will stick.

I suggest you peruse sections B and C of the following document.

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

Your RPs are selling cryptocurrencies, full stop. As a firm that does this at a retail level, I'm certain that MSB/MTL state regulations apply as does the BSA. Best of luck if you think that your stores can do this without getting regulated and without filing necessary reporting at a state and federal level. It doesn't matter that you want to make a comparison to old coins, artwork, etc - FinCEN doesn't give a damn about those things or stamps but they do care about virtual currencies, which Trests clearly are. Hell - check the subject in this thread where you reference it as money.

Dear mmm01: We have notified Stephan, he will answer your question shortly.

Dear canth,

Trestor Retail Partners (RPs) are simply trading a 'token of subjective value', other businesses are able to trade various other similar tokens like old coins, artwork, stamps, etc. without any special trading license. In case of Trestor RPs, token happens to be 'Trests'

The fundamental difference between Trestor RPs and MSBs is that while Trestor RPs are traders of tokens, MSBs lets a user deposit money and assign it to another person for withdrawal, therefore they are participating in money transmission and generally charge a transmission fee.    


Trestor Team
@trestorconnect
www.trestor.org

You will need to do AML and KYC to buy Trests or else the firms selling them will be breaking MSB/MTL laws, at least in the USA. There are minimal thresholds, but there is no fully exempting AML and KYC - firms will need to file SARs just the same as Ripple Labs needs to do when they sell XRP to customers.