Topic: [BCN] Bytecoin. Secure, private, untraceable since 2012 - page 174. (Read 1070171 times)

People often ask me questions, such as "what is the purpose of cryptocurrencies" or "how do I make my own cryptocurrency". However, I get less questions like that lately. Now, people are more interested in how they could build a business using cryptocurrencies. This trend exhilarates me, for it signifies a step from working on the technology itself to the point when it starts being profitable.

In this article, I would like to share my opinion on the relations between cryptocurrencies and business. I would also explain how to make your own cryptocurrency, if you think that you do need one.

Bitcoin is wonderful. Bytecoin is wonderful. Dogecoin is wonderful. All cryptocurrencies are wonderful (well, let us think for a moment that it is true).

You can pay Bitcoins for sandwiches in Subway, use Bytecoins for private purchases, send Dogecoins to your friends as gifts and so on. That is, you can use features of each cryptocurrency for suitable cases. But - what a nuisance! - you would not like to keep a dozen wallets with all these coins.

Naturally, you can just make another cryptocurrency, which will combine all the best features. A kind of a standard for cryptocurrencies. Wait... it reminds me of something...


Of course, such approach might be viable... in theory. But practically, it is not feasible. First, the idea of "all the best" is very personal. Not everyone thinks that demurrage in Freicoin is a very useful feature. It would be a challenge to select a standard from the wide range of Proof-of-Work functions as well. Second, some things cannot be combined by their very essence: imagine yourself in the shoes of a service, which has to take into account a million features of a SINGLE cryptocurrency. Would you like to accept it? Finally, it is very difficult from the technical point of view to keep implementing all the innovations that appear in other projects.

What is a good Windows 64bit miner to merge mine BCN with FCN?
Been using YAM in the past, but doesn't seem to support BCN+FCN.

Is privacy good or evil? Does any person have a right to be privacy-protected? Can we apply common statement "If you are doing nothing wrong, you have nothing to hide" to our lives?

Right now, society is desperately looking for the answers to these particular questions, but it seems that government has solid position regarding them, too. Lack of privacy in our lives seems to be relatively farfetched problem for the majority of people, but eventually debates could turn into a serious confrontation. A careful eye would notice that for now there is little resistance.


Look around thoroughly - we are living in the world where surveillance cameras are all around us, banks know exactly how much money we have and how exactly we are spending it, search engines know what exactly we are looking for and what exactly we like, and, of course, you should keep in mind that messages we send via social networks and messaging apps could be easily accessed by authorities.

What is a good Windows 64bit miner to merge mine BCN with FCN?
Been using YAM in the past, but doesn't seem to support BCN+FCN.

Hi,I am not able to send my BCN to poloniex ? BCN come back for wallet.

It may be Bitcoin's single greatest achievement that the cryptocurrency has gained name recognition that far surpasses its actual value or utility.




In a way, it's not unlike how many consumers already associate forward-thinking tech giant Tesla with driverless cars, or equate NASA with missions to Mars. Those companies will surely be major players in those respective pursuits, but aren't really there yet. Similarly, Bitcoin has positioned itself to be a significant if not dominant financial resource once the world fully comes around to the idea of digital currencies. But at this point, we're (again) just not there yet.

Usual Bytecoin transaction construction process, in simplified terms, can be described as follows:

That's not to say Bitcoin doesn't have plenty of value or utility for those who choose to put their trust in it. It holds real financial value, still carries lucrative potential as an investment, and is even used as legal, acceptable currency in many places. Bitcoin has met its goal of becoming a viable alternative to typical financial transactions--it just hasn't quite scaled up at the rate many initially expected to see.

Today's blog post is dedicated to the technical side of the implementation and will mainly cover the percentage of a transaction part of the update. During the setup process you can set maximum percentage of a transaction to be donated. On average, donation will be lower than the specified percentage. Why? Let's have a look into the how the donation part of the transaction is being constructed first.

Usual Bytecoin transaction construction process, in simplified terms, can be described as follows:

• Wallet receives transaction data: amount, mixin count (anonymity level), address(es) to send to.
• Wallet starts to create a transaction - it looks for several user's outputs that would cover the specified amount. These outputs then become transaction inputs.
• For each recipient wallet splits an amount into new outputs with power of 10 (for example 53800 is split into 50000, 3000 and 800) and for each new output generates a one-time key from the recipient's address and some random data. These pairs (new amount, one-time key) become transactions outputs.
• If sum of transaction inputs (see #2) exceeds the transaction amount, it creates a separate transfer (in the same transaction) to user's address to send a change.
• When the whole process is finished, wallet signs the transaction and sends it to the network.

Any idea the hashrate with that card? Again I apologize for so many questions, trying to determine if mining bytecoin is profitable for a beginner like myself... Thank you

I am new to mining cryptocurrency and I chose minergate because it seems the most newbie friendly. I want to build/buy a computer strictly for minergate. I see that only Nvidia graphics cards are supported for gui mining with minergate, my question is which nvidia graphics cards are supported/usable with minergate? Which Nvidia cards work the best with minergate?

Also, for example, at https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison a GTX 480 lists a 101.28 MHash/s and a .405 Mhash/j, when mining with minergate should I get 101MH/s hashrate?

I'm apologize for so many questions, but again I am new to mining and hope someone can answer and steer me in the right direction with minergate mining. Thank you in advance for your help

P.S. I don't know anything about scripts, that's why I chose minergate. I am looking to spend about $300 on a Nvidia graphics card that will work with minergate and don't understand how to figure out what hashrate I'll be getting with graphics cards...thank you again

On October 1st Bytecoin team have released a 1.0.8 update for Bytecoin Wallet. This update introduces the very first ABISprotocol implementation in form of micro-donations, Windows 32-bit version and RPM for various Unix-like OS's.



Donation Mining
With the donation mining option a user can select how many hashes per second (in %) she'd like to donate to the specified Bytecoin address.

Donation as % of a transaction
With % of a transaction donation every Bytecoin user is now able to anonymously donate random amount of BCN on each transaction. This amount can not exceed a percentage specified in the settings. Technically, the donation is taken from the change outputs, which implies that a donating transaction is visually no different from any other in the blockchain. We will cover this in more detail in one of the upcoming blog posts.

Windows 32-bit version
Long-awaited Win32 version of Bytecoin Wallet is finally here. It can be downloaded from Bytecoin downloads page.

RPM for various Unix-like OS's
RPM is yet another executable that was requested by our users. Its advent marks that Bytecoin Wallet is now available for users on CentOS, Fedora etc.

The micro-donations feature has been created as the result of the community discussion of ABISprotocol.
Bytecoin blog features post that covers the concept of ABISprotocol. It was written by Odinn who envisioned it as a form of micro-donations.

Useful links
Download new Bytecoin
Discussion thread
News post featuring update
A Greater Giving Potential: Introducing Micro-Donations in Bytecoin (a guest blog post)
Bytecoin roadmap

This blog post continues blockchain projects topic that we've discussed in our previous article. Last time we've talked about how blockchain influenced cloud storage, communications, DNS and other services. Today we continue presenting projects that successfully utilize blockchain technology.

Universal identification: nameid.org, shocard, aliases

It would be logically to develop the idea of Namecoin for registering not only domains but also any names. Actually, this function is already available in Namecoin itself. While domains are registered with prefix "d/", or, in more technical words, "in namespace d/", there also exists a prefix "id/" for registering private names and associated data. Therefore, it is not a problem to input your data in the blockchain. The problem is what to do next.


The nameid.org service combines the Namecoin blockchain and OpenID scheme. More specifically, if a site offers you to log in using OpenID, you can select nameid provider, which will access the Namecoin blockchain. If the stated name exists, you will have to sign a random string using the corresponding key (instead of a password), which can be done via Namecoin client. After that you will be logged onto the first site under the name from Namecoin.

Naturally, such mechanism for authorization via Namecoin (or any other blockchain that provides for registering such aliases) can be integrated into any site, successfully eliminating the intermediary nameid and the OpenID protocol itself. Maybe, at some point, it will become a standard, and you will be able to log onto a site using a public address in your favorite cryptocurrency, e.g. nvsaberhagen@cryptonote. The notion of 'login' itself will then be equivalent to the notion of 'spending money'.

However, this is still in the future. For now, you can only hurry up and stake your username...

Do you even know how to read charts and volume?  Because if you did you wouldn't be saying there are massive dumps going on. LOL get real

So what does this mean? No activity in this topic for 8 days + massive dumps going on.

How would we remember Bitcoin? No, it is not a start of an obituary, and no one buries anyone! What I am asking is, what the specialness of Bitcoin technology is, what novelties it has? We have seen e-cash before it (DigiCash by David Chaum), used proof of work in the real life, and digital signatures can actually be considered as classics. Trustless P2P networks? Not a novelty, yet a warmer guess.

Some might say that a combination of abovementioned is the winning hand, but I would like to emphasize a single feature. Blockchain. Had the first blockchain-based application been not Bitcoin and its coins, but a BitZombie (a service for coordinating survivors in case of a Zombie-apocalypse), then it would be called the innovation that changed the world.



Blockchain is not a simple decentralized database, which is completely stored by each network node. Its unique feature lies in the fact that every user can check on his own that his copy is similar to those stored by the majority of other nodes. Absolutely similar, down to the last bit, in the same order. (naturally, there is also a margin for error, but it is negligible or it can be made as small as one would wish). The key point is "on his own", meaning that one should not trust other nodes to sustain the network (trusting mathematics is better). In practice, it is a solution to the problem known as "Byzantine Fault Tolerance". Scientists call it the "distributed consensus mechanism".

Naturally, storing complete blockchain at one's computer is not mandatory. The data inside the blocks is stored as a tree, so it is possible to ensure that a "leaf" of the tree (transaction or any other data) is included in the chain without downloading its full version. If at least one node exists in the network, we can say that the blockchain exists as well. Practically, it is like a perpetuum mobile that cannot be stopped by anyone and anything (short of the Big Freeze).

It is the blockchain technology that makes Bitcoin so wonderful. Still, it causes a question: is the technology applicable anywhere besides finances and zombie apocalypse? And yet another one: can we justify such application? Today, we are going to try to find this out by evaluating different services based on blockchain....

And that explains the dumps how exactly?