Topic: Possible coins coming from AnonyMint and HONCHO - page 2. (Read 1365 times)

The opposite. I advised AnonyMint that JAMBOX needed to be tied to the coin I would ICO so as to maximize speculator interest; and he said he just wanted to see his new anonymity plus DE discovery in a new coin. He didn't want to tie any futures contracts to JAMBOX. So I think his heart was not in what he was writing and was trying to convince himself by writing frankly in public and then gauging feedback. When he didn't get much feedback, he rightfully concluded that one can't market an ICO without a very convincing message and plan. AnonyMint's distaste for funding vaporware with ICOs was clearly evident between the lines of what he wrote. My insight is he was killing the idea because he is driven in by the passion for the ideas he believes in.

When I chatted with him earlier today his only point was, "Why do they criticize me for being slow, when they also criticize premines and ICOs.". He is correct. One man alone can't accomplish the ambitious goals AnonyMint is trying to achieve.

So there needs to be more funding. A top quality software engineer costs $100,000+. The level of software engineer who could keep up with AnonyMint is someone similar to smooth, or the keean guy he is conversing with at the Rust forum. Both of these two earn in excess of $250,000 annual salary. AnonyMint should quit crypto and go work in industry. He will be age 51 soon, is bankrupt, and probably be best advised to go earn what he is worth instead of risking so much for a dream. But that is how passionate people behave. I know it when I see it.

No. I already stated this in my first message.


I have not yet decided whether and when to confirm or deny my prior affiliation, and whether I will deploy my pre-existing reputation to drive investment in the proposed ICO.

Those who know me, know I comment less on Bitcointalk these days. And I also want you to note that AnonyMint is banned.

There needs to be someone to get out in front publicly on the marketing. A visible public face is always best. Those who know me, will know I am anonymous even if I reveal my prior affiliations.

I wanted AnonyMint to be that public face and I also think he is a motivational public speaker. But he is not comfortable being a promoter of an ICO. I am confident he will be a public persona promoting JAMBOX. There is also a plan to raise money for JAMBOX in a crowdfund and I presume he will be publicly visible at that time. And many details will be presented at the crowdfund. Note the crowdfund is as I understand it to be in exchange for Tshirts and other perks not including JAMBOX tokens. I am not certain the proposed crowdfund can raise enough funds to accelerate JAMBOX properly. Thus I have taken the opportunity to leverage AnonyMint's research discovery to propose creating a new coin and distributing it via ICO.


The JAMBOX crypto-currency will be a revolutionary redesign of Satoshi's proof-of-work, so yes it will have mining and be distributed via mining. But it will be unprofitable mining and the senders of transactions will supply the proof-of-work shares. I will defer to AnonyMint for further details on that. AnonyMint has indicated that he has a technology to prevent professional mining during the launch phase and that only verified social networking users will be able to mine and they will be limited in how much they can mine per day. He expressed to me that he is confident he can prevent anyone from amassing investment quantities of coins via mining and that this can be enforced in a decentralized protocol.

For the crypto-currency I propose to launch via ICO, I want it to be proof-of-share so there will be no debasement of the currency. This currency is intended to be a reserve currency for trading thus should not be debased and if the coin supply shrinks due to lost coins that is not a problem. Also it will be more compatible with the masternode concept to employ DPOS where the delegates are the masternodes. I am thinking the masternodes should receive the transaction fees as their sole compensation. I propose the transaction fees will be set as a percentage in the protocol. We need a very efficient, low-cost, and fast network for our reserve currency trading. Masternodes will of course have to lock a deposit which is forfeited if they do any malfeasance. I am aware of the general argument against proof-of-stake that masternodes can collude or be bought up by the evil adversaries, and that one could profit by attacking the coin with masternode control and shorting the coin. However, we also see that Bitcoin has arguably transmogrified to de facto centralized control to some degree. It seems one chooses their poison, at least until AnonyMint leads to the way to an overhaul of Satohi's design and shows us a better way.

AnonyMint is afraid of being associated with an IPO or any form of premine, because he is a citizen of the United States of America. I am not afraid to launch an ICO.

I wanted AnonyMint's ability to communicate with incision on this forum. He has a huge following. But I don't want him conflating his fear of ICOs into his communication. Also there seems to be some power struggle between AnonyMint and the forum owners, so I think it is best if I urge him to stop wasting his time bickering on this forum.

My impression is that what you are reading in his last few messages is lamenting that he can't compete in the ICO market and he understands that is the only way to compete and raise funds in the AltCoin space. So he was feeling handcuffed. I have told him to stop, and let me handle this. The limitation is removed. I will pay him as a contractor, so he has no legal culpability. He will not promote this coin directly, so to make sure he has no legal culpability. I will facilitate him to answer questions later; first let's allow some time for him to get some work done and catch up on sleep.

He will get his funding so he can go complete his project at full speed.

Let's move forward.

Any questions or feedback to me on my plans?

I may be able to answer some questions about JAMBOX, but I will have to defer more detailed questions on that to AnonyMint.

1. Because users won't have to risk their funds in a centralized exchange.

2. Users can trade directly between acoin and any* other coin and more anonymously with no need to signup an account or provide an identification documents.

3. The trading will be more efficient and robust due to AnonyMint's technological discovery. See the discussion of Bitsquare for more info.

4. Some pairs may be exclusive, e.g. JAMBOX's crypto-currency will be exclusive for a period of time until others are able to copy the op code. Most everything will be open source, but this op code will be closed source until someone reverse engineers it. Generally it is not possible to maintain exclusivity of pairs for decentralized protocol block chains. So exclusivity is ephemeral.

* Some caveats need to be discussed.


Page 3 of the Bitsquare whitepaper says everything we need to know in the following excerpt:

http://i63.tinypic.com/352f3gy.png

Note they are relying on multi-sig and arbitration. So what stops the two trusted signers from stealing the funds. That is not DE. DE is where two parties can do a trade and there is no way third parties could steal the funds. You can find the detailed technical analysis of why it is flawed in the discussion that TPTB_need_war had with David Zimbeck in the Bitbay thread of this Altcoin Discussion subforum.

Also note how Bitsquare is relying on Tor which is known to be a honeypot and compromised, as well often being slow and timing out. And thanks to AnonyMint, I am proposing to offer much more robust and performant anonymity.

* There is no way to do DE directly between two coins that don't have support for some special op code. And even the op code Bitcoin offers which enables TierNolan's DE protocol, doesn't address the fact that it can jammed as AnonyMint (TPTB_need_war) explained. TPTB_need_war offered a pseudo-solution which is to have users of the TierNolan protocol—cut and choose or the first-class variant when both coins support the Bitcoin op code—choose how old the coins need to be that they are willing to trade with. This is intended to rate limit an jam attack, but it is still not really a robust solution. And besides, the TierNolan protocol is extremely slow and thus will be error prone. I don't expect it to be viable/popular in practice at any scale.

So AnonyMint discovered a way to fix that!

AnonyMint is prolific. If you aren't paying attention, that is not his fault.

The original thread was derailed by trolling and it is difficult to determine who is interested or disinterested and why.

I am providing this thread for those who want to discuss the coins.



I am HONCHO, the person whom was referred to in the prior message written by AnonyMint. I am not AnonyMint.

No there is no let down. AnonyMint did not communicate clearly the unique selling point of the coin I am going to create with AnonyMint's technology. I understand he wrote that he had been awake for 18 hours. He contacted me on chat yesterday after writing the aforementioned message; and I urged him to sleep and let me handle this.

I have urged AnonyMint to stop communicating on this forum and let me handle the marketing to the speculation markets. I want AnonyMint to focus on his core competencies, which include technology, programming, speaking to small focused groups with his incisive insights, and marketing to the masses. He has successfully done the bolded several times in his career and my money is betting he can do it again. It is my strong sense that AnonyMint is not in his best element when confronted with communication to large groups of speculators.

I am an angel investor of AnonyMint. I want to inform you that AnonyMint has communicated to me today that he is permanently banned from this forum and thus will not be speaking to you anymore on this forum. Also I am not wanting to facilitate a way for him to communicate to speculators at this time, because I need for him to focus on work and not be distracted. At the appropriate future juncture, I will facilitate a forum where you can ask him questions directly.

AnonyMint failed to communicate to you the main reason I want to create a coin with AnonyMint's newly discovered technology. What excited me so much is that this discovery makes decentralized exchange much more realistic and not prone to jamming. I will be explaining more about this to you.

For the moment, I want to summarize that the coin I want to create will be a reserve currency for those who want to trade to various crypto-currencies. It will have superior anonymity and decentralized exchange, thus enabling speculators to use it as their holding asset in between speculations. It will hopefully eliminate centralized exchanges. My planned coin serving double-duty as the exclusive pathway to obtaining the future JAMBOX crypto-currency cheaply at its future launch is the icing on the cake.

I am also protecting my investment in AnonyMint, in planning to raise more funds for his JAMBOX project so he can accelerate development. Note I will not be receiving any JAMBOX coins in any form of premine. I will obtain them via the decentralized exchange. I will however receive shares in the JAMBOX corporation.