The Crypto Papers

Common sense reviews about cryptocurrencies and related issues

Bytecoin Blackout?



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Earlier today it was reported that Bytecoin.org mysteriously went offline. (You can read about it on BitcoinTalk.org here.) As of this writing the site is still down. Here’s what you might get:

An error occurred.

Sorry, the page you are looking for is currently unavailable. Please try again later.

If you are the system administrator of this resource then you should check the error log for details.

Faithfully yours, nginx.

Now this does not necessarily mean that 300 million dollars in BCN will evaporate, but it might end up that way. Especially if news comes out that Bytecoin.org was a complete and utter scam from jump street. Many have warned about this very thing.

And please know that Bytecoin’s Forum is still up. See: https://bytecointalk.org/index.php to verify. However, this is not a very active forum.

Are we about to experience another Alphabay fiasco? It does not appear to be that way — exactly. Unless the Bytecoin Team has raked in enough cash and has decided to abandon ship — which is not sinking. Maybe they are quitting on a high note? If so, the value should fall very soon. Why? Who will tend the software? How will we know when there is a software update? Are they switching to a full wallet based system — a more decentralized approach? If so, then where will newcomers obtain the application software? The wallet? The blockchain?

You can check here to see if the site is up yet: Bytecoin.org

The timing of this outage — this blackout — is curious. It coincides with a massive pump on the order of four million dollars (US). Although, Poloniex has not yet opened BCN (Bytecoin) for deposits/withdrawals — allegedly they are waiting for a solution from Bytecoin. Meanwhile, back at the ranch, the BCN trading at Poloniex is “off the chain.” What do they know that we don’t? Is this just another Polo-Pump?

If we back up a bit, some of us might recall that Bytecoin.org took their private forum offline recently and dumped a load of spam. This was shortly after I emailed them about the problem, but I do not know if they conducted the cleaning because of my email.

Strangely, just after my post yesterday about Pacific_Skyline, the main site went offline. Again, that’s probably just a coincidence, right? I mean, did I shame them? Maybe. I’ve been pretty tough on them lately about their odd writing — how it seems foreign-styled. Foreign in the sense that it’s not the American style of writing. Which is okay, but they might need to hire an editor to flesh out some of their extraneous verbiage. Long winded and flowery for sure. That is unusual, in my mind, for “math” types. Maybe it’s a French thing, since their website is allegedly based there. But I doubt it.

Now the Cryptonote.org website is still up. If you recall, Bytecoin is a Cryptonote coin. Run Scamadviser and you should find that this site is listed as “99%” and it “looks safe.” “Looks” is a weasel word. My cat “looks” safe, but he will eat your dog. Cryptonote.org might be located in the Netherlands, but it is hidden, according to the review. The site could just as easily be located in Panama or in the US. There has also been a lot of speculation that Cryptonote.org and Bytecoin.org are operated by the same crew. Should we then expect the CryptoNote.org site to shut down next? According to others, Bytecoin and CryptoNote parted ways some years ago and therefore Bytecoin.org going silent at this juncture, should not cause any troubles on CryptoNote.org.

Since many of the CryptoNote coins are related, I checked the following websites:

Aside from Pebblecoin and Quazarcoin, the above websites are easy to find and active. There are more CryptoNote coins, but they are essentially “dead” coins. In other words, many of the CryptoNote websites are alive and well. This makes me think that we are simply experiencing some kind of upgrade to the Bytecoin.org website. Again, if you will recall — at least for those of us who follow Bytecoin and the CryptoNote coins in general — we were advised about a forthcoming “colored coin” update by the Bytecoin Team about a month ago. We were not advised, however, that the website would blackout for a time. And, this new bit of news was a long time coming. About a year. And…it seemed repetitive. Are we being led by the nose? The long con?

There is no news on the CryptoNote.org website about Bytecoin.org’s current hiatus. There is no recent activity on Github, but I would not expect any if this is just a website upgrade. But I would expect this if the Teto-Team is upgrading BCN. You would think with all of the money flowing into BCN of late, that the TetoTeam can now focus on some serious development. Or maybe a seriously long vacation?

This of course brings up the 80 plus percent Bytecoin premine allegation. These days, with all of the ICO’s about, it does not strike us as odd, that any type of big premine is a big deal. It’s only about our acceptance of the coin — if it works as advertised. And it has always worked for me.

A recent piece on Reddit, if it can be believed, advised of an older exchange with the one of the previous Bytecoin Team members. What I got out of it was that there were about a 1000 or so early miners of BCN and the coin was really released in 2012, but the post did not go into the specifics — nothing about the fudged White Paper dates or the non-existence of a website back then.

If the Redditor in question stumbled upon a truth about Bytecoin, it would seem to imply several things. First, that over a thousand individuals have over 80% of the coins, which means it is not a small group of people and that is probably a good thing. Secondly, that the core Teto-Team may not know each other, personally. Now, take this as you may, but the most successful secret operatives work using the cell theory. They often do not know the organization they work for and only have one other contact — a vague one at that. In the new world of the internet, the developers of cryptocurrencies can work completely — or almost completely — anonymously. They do not need to identify their other team members at all.

Like I’ve mentioned before, this ability to work independently and anonymously, within the international financial environment, makes Bytecoin, if it survives its christening by fire, a force to be reckoned with. No other POW (Proof-of-Work) cryptocurrency on earth has ever accomplished such privacy and independence before; and had such success. (Please correct me if I am wrong.)

There has been much praise for the “coding” as well. Bytecoin is not a *bleep*coin, as it were. There have been recent issues with mining, however. This problem allowed someone or a group of them, to mine extra coins — beyond the perimeters set up in the code. It appears as if the Bytecoin Team has refused to undo these added coins and this stand has probably angered some. In the final analysis, however, when a cryptocurrency invalidates transactions after the fact, which would be required if a blockchain was rolled-back in order to reverse the creation of these extra coins, you end up with things like Ethereum Classic. Bytecoin avoided this rift. Full ahead, they said —  then they fixed the workings on the fly, as I understand it.

And please do not mention Monero. We know at least one player in that space. It is not unimaginable that other, less moral characters (our governments), know a lot more about the Monero developers. I’d say, in a world controlled by government money, that allowing one’s identity to leak out in this arena, is like to planning to go to prison in the future. Or, at the very least, sending a public invitation to the regulatory agencies the world over to plant electronic eavesdropping devices on your dog. (Hint: check their floppy ears.)

There is a side note here. Something that is causing a lot of concern on the internet. The Net Neutrality debate is raging. This could be one of the reasons that many websites have slowed over the past 48 hours. Of course those who support neutrality aren’t really supporting free and fair internet usage. They are supporting the institution of force. How so? If you are an internet company, under the idea of neutrality, you are required not to act in the interest of your own business. You may not charge other companies extra for use of your servers. You can’t offer special deals or market products of your choice by slowing down or limiting the access of competitors. You must allow every company connected to the internet — which really does not exist at all since it is simply computers connected to each other — free and unfettered access to your equipment. After all, under this alleged neutrality, the internet, which might use your equipment, your electrical power, your time — whether you agree to allow it or not — does not belong to you. It is some virtual thing, afloat in a sea of electricity — like the air we breathe. Nuts. It’s like Johnny Mnemonic all over again. “Information should be free!” Okay, but who will pay for it kids? Silence. Haven’t you heard? There ain’t no such thing as a free lunch, Jethro. Okay, the above is over-simplified, but ain’t that the gist of it?

Now we wait. The thing is, customers hate waiting. In fact, we find other, better suppliers — ones who are up to the job. (There, I just had to get that last Bytecoin dig in.)

Get off of your duff Bytecoin — if you’re still live.

Are you under attack?

Seriously, I hope that Bytecoin.org is “under reconstruction” as some have speculated. If true and if the new site comes up with some great new tech, well then, we might be in for a wild rocket ride.

I know…a lot of “ifs.”

Curiously, a few hours after posting this, the Bytecoin.org website once again showed itself. ScamAdviser indicates that the site is currently “94%” safe. There has been no official word from the Teto-Team as to why the site disappeared for over a day.

 


Image Source: Flickr

 

 

 

 

 

 

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