Topic: BTCD is no more - page 410. (Read 1328490 times)

The BTCD -> visa/mc is separate service, that is not anon as visa/mc are not anon
so you just want the BTCD anon card, you just need BTCD. No need for exchange.

Just do this:
1. BTC -> MGW
2. use InstantDEX to swap BTC assets for BTCD assets
3. withdraw from MGW to anon card deposit address.

Since I imagine this will be popular activity, I can make tradebot just for this use case. Then it is:
1. Send BTC to anon autoconvert tradebot -> anon card
anon card can then be used for online purchase or withdraw cash from ATM

Now you do need to already have an MGW deposit address and have gotten the deposit address for the anon card, but that is onetime action

I am trying to provide realtime updates on progress to create an "escalator" effect. I worry that if I waited and just released everything all at once, people will overreact and we get another massive pump. "Slow" steady 5% per day is a doubling every two weeks, so it doesnt take long to get to any price level if you can get consistent gains.

I guess my multisig breakthrough will make more than 5% for today...
That's even with the corresponding delay in release.

What I am concerned about is that when I add support to teleport and multisig NXT that a large percentage of NXT community will adopt BTCD. With thousands of active NXT'ers, well there just isnt enough BTCD to go around. I guess some price volatility cannot be avoided.

Anyway, I try to get some rest before I put in the multisig properly tomorrow. Today was just a brute force test to verify it really did handle M of 254 properly. It did.

James

So this following scenario is possible? I made it easy for anyone reading this thread:

John has done some profitable trading and wishes to cash out 2 BTC in profits, so he can buy some cool new toys.
John doesn't want his wife to know he has that extra cash, because she wants to spend it clothes again.
What does John do?

Step 1.

John aquires an anonymous BTCD -> VISA/Mastercard -> anon card

Step 2.

John sends the BTC to an exchange anonymously using BTCD's teleport function and converts it into BTCD

Step 3.

John loads up the BTCD Visacard with fiat converted from BTCD

Step 4.

John walks to an ATM and gets his cash

Step 5.

John buys new toys and is happy

With InstantDEX there will be tradebots that automatically convert BTCD -> BTC so BTCD can be spent anywhere BTC is accepted. Wouldnt be hard to make autoconverters for any other coin, as long as there was enough liquidity

I am sure there will be peoples to make cool services to help with the entry and exit out of "hyperspace", those are the two public checkpoints with all the risk of exposure so you really need to be careful. With a combination of tradebots, anon card and public services, I think there will be a totally cash like economy within crypto. Powered by BTCD

James

We are starting to see good movement in price 

Good job James

Come to think of it, BTCD -> visa/mastercard and BTCD -> anon card, will allow any cryptocurrency to be anonymously converted back into fiat. You just have to exchange your other crypto for BTCD and then load the card with that converted BTCD. This will increase the demand for BTCD, it's like a "back to fiat multipool paying out in BTCD"

Furthermore, any cryptocurrency can be anonymously sent to an exchange under BTCD's "Teleport umbrella" doubling the anonymity layer in preparation for the anonymous switch back to fiat.

I see what you did there James, very clever indeed.

I try to solve the real world problems to make crypto as useful as possible. It helps that I am a generalist

The BTCD -> visa/mastercard and BTCD -> anon card will gather a LOT of interest I am sure. That is what is lacking in today's crypto scene, anonymous sending of funds is all very good and useful, but a way to transfer cryptocurrency back to fiat anonymously is something that is truly revolutionary. There are alternatives, like (semi) anonymous prepaid creditcards but with all those options there is at least one point where someone is obligated to submit proof of identity. You could for example buy an anon card with a linked EU IBAN bankaccount and then withdraw fiat from Bitstamp into that account, but first you need to be verified and identified by sending a copy of your passport and proof of residence, leaving a paper trail. The same holds true for other exchanges where you can withdraw fiat. Topping up a standard prepaid creditcard can be done by bankwire, but then your sending account is linked to the card, rendering it non anonymous.

Being able to top up a prepaid visa/mastercard with fiat converted from (anonymously sent) BTCD and then use the card to withdraw fiat at any ATM where VISA/Mastercard is accepted (in over 100 countries) is simply awesome.

Also the ability to link the anon card with a PayPal account offers many other different options.

At initial ramp up period, cryptonote at higher settings would be a bit better, but that just makes their blockchain bloat problem worse. With Teleport, the anon level automatically goes up as the transaction volumes go up and with the point to point (well actually a bit of onion routing) I see no reason why it cant just keep scaling up. It would be possible to match anon levels even at first at the cost of taking more time.

Yes, any other coin can be teleported, though it will require some custom coding for each new coin source base. Not much though, probably a week or so per new source base. Since BTCD and BTC are essentially the same API, it will just be a matter of adding the fees, which is actually quite a bit harder than it sounds to do it properly.

Also, there will be some bloating due to the usage of standard denominations, but with average tx probably having half a dozen telepods, it is a fixed factor. cryptonotes have this plus the ring signature overheads, plus the key images they need to keep around forever to prevent double spends.

BTCD addresses the IP address privacy issue with the privacyServer hub and spoke architecture, but since anybody can run a privacyServer, I believe it still qualifies as decentralized. Now no need to use Tor and get flagged or attacked by the people watching very closely whoever uses Tor and the like.

if that wasnt enough, BTCD will also have a BTCD -> visa/mastercard and BTCD -> anon card. The latter being an anon path back to fiat. No personal info needed to get a card, $10K USD limit per month.

Did I mention InstantDEX and realtime trading? tradebots and automated trading using InstantDEX? Privatebet to make peer to peer bets using telepods, eg. privately?

So, still a lot more work to do, but I estimate by year end even Privatebet will be in testing and that is the last one on the list to get finished.

James

P.S. I am having university math professor analyze the anon level of Teleport. I know enough math to know I dont know enough to do the formal calculations, so hopefully by the end of the month we will have this indepedent analysis.

So basically the Teleport function will offer better privacy functionality than cryptonote? but without the blockchain bloat ? And any coin could be teleported?

Even without a high marketcap BTCD will start getting dividends from InstantDEX and NXTprivacy (primarily BTC teleport fees) in the coming months. So added to the 5% per year staking, it will be the only coin I know of getting dividends in BTC (and NXT)

Put all this into a reskinned NXT GUI and building on top of NXT so we instantly get all that fantastic tech as part of BTCD user experience, it will indeed be hard to prevent rising to Top 10. I was content with top 10 by year end, but I guess it will be top 10  as soon as people believe that I will deliver the tech. Of course smart investors are checking my github repo and they can see the rapid progress, plus with my MGW getting a bunch of press, my finishing the tech is probably only an issue for those not familiar with my work in NXT.

Anyway the darkpaper is coming along nicely, though the adding of multisig threw a bit of a delay into it, I can just imagine someone trying to figure out who sent what to whom when all they see are encrypted UDP packets buzzing around from node to node. How can you even tell if a node is just routing a packet or originating? Once the darkpaper is out, then, well not sure what will happen...

I believe BTCD will be the first coin that businesses can use without worrying about their competition knowing their every transaction. The multisig feature will allow them to have layers of control over internal funds transfers and this also avoids cloning for such cases. This means businesses can teleport BTC around privately.

James

P.S. Now I am realizing I should have bought more BTCD!

yes and another key factor is that you will be able to teleport any other coin (with a little bit of extra coding), so if any other coin actually has some useful anon value, you can get combined power by teleporting that coin. Regardless of which coin wins the anon race, BTCD will be around to teleport the other coins.

I do not know of any other coin that will be more private due to this combining power. Also, if they have some good algo, I can always integrate it in. It might take me a few weeks, but I like to assimilate any and all good ideas. For instance I have the essence if ring signature algo from cryptonote isolated, kind of like a test tube with just that algo. So, i could add it to BTCD, but with Teleport I just see no reason

I want to congratulate you on your awesome work, thank you for being such a hardworking and delivering dev. I can assure you that this thread is being watched by more potential investors every day. I think that BitcoinDark will be trading up with the big boys in the top 10 very soon.

Is it pretty safe to assume that btcd will have one of the most private, secure and safe transactions in cryptos?

ps. I like your the white rabbit metaphor

Awesome James! Thanks for your hard work man.

I have some news. Its not official yet as I just got some early test results and day is late so maybe I made a mistake. I want to verify when I am fresh.

I believe I got multisig support added to telepods. This allows combining of privacy with protection of multisig

So, it took me off the fast track to completion, but I think we all agree it is worth a few days delay to get multisig Teleport

James

P.S. The white rabbit will now have N versions of it beamed across random nodes (third onion layer) and then reconstructed at the destination. Poor guy. Especially since my M of N multisig looks like it will handle up to N of 254!

Wicked mate that's brilliant news. A real smooth progression and a more mature community 

Good news!
I found GUI dev for porting the NXT GUI.
Will still need graphics help, but low level stuff is under control

kinda, but with space of few bits just for your password, pin... it stores your 24-word password that gets your private keys. staking could be little complicated, but maybe its just about adding more API calls to the wallet

I am not pretty sure how Trezor works.
Is it something like usb with protected wallet?
Can I stake BTCD while I save my BTCD in Trezor?
Thanks