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Topic: 🔥🔥🔥 [ANN][ICO] BITFENCE - REMOVE HACKERS FROM YOUR NETWORK - page 61. (Read 30058 times)

full member
Activity: 994
Merit: 140
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

That's the part that i have been wanting to hear, by that, i mean the validation process because i once stated that it doesn't seem to make sense if there is no validation involved, as mischievous users can manipulate the process to their will but now that i see that there is a process involved, i'm relieved, good to know

I am sure that behind the whole validation a sophisticated mechanism is running. They finally want to catch hackers and not fool around with any script kiddies:-)
And any attempt at manipulation will certainly be detected and the cheater must then expect consequences
member
Activity: 252
Merit: 11
newbie
Activity: 2
Merit: 0
Do you have a bounty?
sr. member
Activity: 1302
Merit: 403
Here is my review of BitFence project in russian language https://golos.io/bitfence/@dronpelya/obzor-ico-bitfence-zashita-ot-kiberprestupnosti
Maybe it will be interesting for someone.
full member
Activity: 616
Merit: 108
io.ezystayz.com
The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.
As you say i also think that they could extend Stage 1 a little bit further so they can still reach that 2000 ETH cap and then continue with Stage 2.
Might be, but I don't think so they need to extend stage 1 till reach goal. Because see now they said 1114.79 ETH raised. As they said "Discount linearly drops on 0% on Jun 30". means they have enough time to reach their goals.

Even if the stage 1 goal isn't reach the wise move will be to continue with sarge 2 rather than extending stage1 sales.

This is logical thinking, if they even can't complete a Stage then it would be the best to extend the Stage at least. Why continue to Stage 2 instead ?
member
Activity: 672
Merit: 11
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

That's the part that i have been wanting to hear, by that, i mean the validation process because i once stated that it doesn't seem to make sense if there is no validation involved, as mischievous users can manipulate the process to their will but now that i see that there is a process involved, i'm relieved, good to know
full member
Activity: 994
Merit: 140
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income
So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.

it's not if they hack the BitFence network, it's if they hack YOURS, and your honeypot reports the hackers signature back to the network.  You also get paid for your honeypots uptime.

yes, it's easy, you buy a stingminer, connect it correctly and you're off. The longer the miner is online, the more reward there is.
I think this will be the easiest mining method I know so far
member
Activity: 728
Merit: 11
DocTailor IEO on Zloadr
Can AI protect us from hackers? Why do we need AI? Very interesting and useful article:

https://medium.com/@bitfence/bitfence-can-ai-protect-us-from-hackers-4855efc75908

Bitfence are really doing great in the aspect if writing articles that explains why they are doing what they are doing. This article for example just taught me the importance of a.i in detecting and preventing attacks. Nice one again from Bitfence.

BTW is an mvp out or any plans for it to be released any time soon? I have seen the images of the hardware planned in twitter. I think the software is the more important bit and if any plans to see an mvp of it?

There's a testnet with the stingminer running on it currently, im not sure if it's public yet.

I wasn't aware of that. Who is using the stingminer on the testnet any idea? I know you said you are not sure if it is for the public, any idea who is currently testing it or it just in-house?

It should be in-house, since it's not for public view yet, they are not yet with results but we are looking at getting one in no time, so we could have a relatable view as to how things are currently being run with the device
member
Activity: 532
Merit: 10
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income
So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

I guess you mean "HNY" token (just so that no one will be confused about your post) and secondly, as per the mining, it makes sense since the whole idea is to fish out hackers. But I am not so sure if the reporting of hackers is automated or manual.
hero member
Activity: 1274
Merit: 646
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income
So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.

it's not if they hack the BitFence network, it's if they hack YOURS, and your honeypot reports the hackers signature back to the network.  You also get paid for your honeypots uptime.
member
Activity: 728
Merit: 10
The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.
As you say i also think that they could extend Stage 1 a little bit further so they can still reach that 2000 ETH cap and then continue with Stage 2.
Might be, but I don't think so they need to extend stage 1 till reach goal. Because see now they said 1114.79 ETH raised. As they said "Discount linearly drops on 0% on Jun 30". means they have enough time to reach their goals.

Even if the stage 1 goal isn't reach the wise move will be to continue with sarge 2 rather than extending stage1 sales.
You mean to say if they will never reach their target in stage 1 then will continue with stage 2? But what about stage 1 goals target then?


Its just an assumption from my part, i think for the stage 2 the goal will just be slightly increased in addition to the stage 1 goal no concrete change will be made.
full member
Activity: 504
Merit: 106
★Bitvest.io★ Play Plinko or Invest!
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income
So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?

Yeah that's the whole point its called a honeypot and its a pretty commonly used in IT to help prevent malicious attacks and stop hackers from accessing information from networks. The fact that investors/customers using the stingminer software/hardware will also get to benefit from mining tokens whilst also keeping themselves protected is a great added bonus that could also be very profitable if the HNY tokens do well on exchanges.
member
Activity: 252
Merit: 11
BitFence has scored pretty well on ICO Bench https://icobench.com/ico/bitfence

The team is quite competent


2 advisors give each 3x5 points. the bot is at 4.3.
I'm wondering, did the advisors have a close look at the project? is there really not a single point to criticize for the two?
Somehow I find the bot almost trustworthy, and 4.3 is a very good value

I agree, I noticed the bot and the two expert reviews, I suppose this is the way the ratings are done and when the rating is low, the ICO usually reflects that

I’ve noticed expert reviews are always to the extremes so it’s pretty normal to see them go 5/5 or 1/5 they don’t really seem to have a middle ground often or atleast that’s my observations

I agree, that is the good part of why there is a bot rating as well and why it weighs far more than other ratings
full member
Activity: 448
Merit: 110
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income
So you can mine NHY Tokens and also get rewarded if someone's hacks the bitfence network through your miner?
full member
Activity: 546
Merit: 106
Bountyhive.io
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.

Basically which is pretty nice as it’s another passive way of mining without burning up a bunch of power but earning a passive income
jr. member
Activity: 93
Merit: 1
Mountains is my passion
Matthew Ignacio:
This team has a great idea in crypto world. I see its potential. Keep up the good work team and ensure that security system is working fine. thats all I will support this coin for the better future. GOD BLESS! Im happy to part of this sucess in the future thank you

Is he's that project advisor? Then it explains why he told that.  Wink
member
Activity: 350
Merit: 16
yeah, just have seen this tweet from bitenfence: https://twitter.com/BitFence_/status/998395500649943040
there you see the stingminer in action! how they write: it runs with no noise and no heat:-) i'm already in love

"runs with no noise and heat"?? That's strange. Is the stingMiner not made of mechanical parts that undergoes mechanical motion? It will really be interesting to know how mechanical parts work without emitting heat.

it is just a RaspberryPi, so there are no mechanical parts.
I do not know the exact function of the Raspberry, but the mining will probably need as little power that the Stingminer does not get warm


Nice. Now I see. I think I need to read about this raspberry of a thing to get more understanding of how it really works. That's a really interesting innovation

The beauty if the raspberry pi / sting miner, is the simple ease of the product, and it's not a resourceful device so doesn't use much power and can easily hide the device
newbie
Activity: 182
Merit: 0
From my understanding the process for miners to earn HNY token involves being able to capture hackers trying to hack Bitfence network and then share this threat with Bitfence, once Bitfence validates the threat with Bitfence risk scoring mechanism you get rewarded. The whole process looks like fun i'll be sure to partake in this.
member
Activity: 532
Merit: 10
yeah, just have seen this tweet from bitenfence: https://twitter.com/BitFence_/status/998395500649943040
there you see the stingminer in action! how they write: it runs with no noise and no heat:-) i'm already in love

"runs with no noise and heat"?? That's strange. Is the stingMiner not made of mechanical parts that undergoes mechanical motion? It will really be interesting to know how mechanical parts work without emitting heat.

it is just a RaspberryPi, so there are no mechanical parts.
I do not know the exact function of the Raspberry, but the mining will probably need as little power that the Stingminer does not get warm


Nice. Now I see. I think I need to read about this raspberry of a thing to get more understanding of how it really works. That's a really interesting innovation
full member
Activity: 504
Merit: 106
★Bitvest.io★ Play Plinko or Invest!
The goal for Stage 1 is 2000 Ethereum right ? What will happen if they don't reach that ? Will they just continue with Stage 2, because the hardcap is more than 2000 ETH.

I'm fairly certain that Bitfence will continue with Stage 2 of their token sale, they might even extend the token sale or reduce their hard cap total if they feel like they can set a more realistic target.

I think problem is with the gap between softcap and hardcap. People might be thinking , Ifroject can start with small amount then why they need this big money.
In my opinion, BitFence should change this hardcap.


Well, I think it's a good thing - soft cap is nice and low so the project will go ahead no matter what; shows they have a good ambition. I'm not fussed about the big hard cap, the more money they have the easier it will be to deploy and get the project to the next stage

Yeah Bitfence's hard cap in USD is $50,000,000 this is a very high figure and it is a lot higher than the soft cap of $3,000,000.

It's nice to have big goals but I think the team needs to be realistic, I would revise the hard cap total and maybe lower it to a more achievable figure.
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