Tag Archives: Monero

Bytecoin Blockchain: Updates and Promises for 2018


AMA

On or about Tuesday March 13th, from 5:30PM – 7:00PM GMT +1, there was an AMA (Ask Me Anything) session for Bytecoin. It was hosted by “BCN_Official.”1. Jenny Goldberg is the pseudonym behind that title, but the person’s real name is unknown.

Ms. Goldberg invited me to participate via Disqus, but being the paranoid, I am, and discovering that the site is not secure, I begged off.

After the AMA, Ms. Goldberg again invited me to review the AMA.

So, I obliged. Why she did this, I have no idea. Perhaps it is because I try to give Bytecoin a fair shake. Let me repeat that. I try. Or it is simpler. Bytecoin wants any publicity – even negative. Or they will copy, edit and paste this elsewhere…


Assessment

At any rate, what follows is not a report. It’s not an investigation. It does bring some new information forward, but do not use it as the gospel. It’s an opinion. I defer to the experts for actual verification. Unfortunately, when even the experts are unable to resolve the issue, us bloggers take a different angle. We hammer.

Before we delve into what was learned, know two things.

First, that in today’s fiat money driven economies, to challenge the status quo can be hazardous to your wallet, freedom and in places like China, your life. To remain private is a human right.

I wish all the best to the honest cryptocurrency developers out there. They should be commended in their efforts to make our monetary lives better. And it’s not only about money.

Secondly, I don’t necessarily support Bytecoin and its renewed efforts reestablish itself as the primary privacy coin. Saying that, they, like Monero or any other altcoin, have the right to do it.

Many assertions have been made against Bytecoin, by Monero and even Aeon supporters. But it cuts both ways. The fact that Monero has many anonymous developers is well known. A few, Riccardo “fluffypony” Spagni and possibly, Francisco “ArticMine” Cabañas have come forward.2. People respect that. They know the personal risks involved.

Why have other developers of Monero not come forward? I suspect that the risks are too great. Perhaps they are well respected figures in governments, Universities, business or their nations have banned the use of private currency.

This is not the case with Bytecoin. All core team members remain hidden, except for “Bytecoin Faces,” which is rather new and does not show us the actual developers.3. Only the “community.” Is it the mask of legitimacy worn as a cloak of armor, by the “Team?” Lambs led to the slaughter?

Bytecoin often cites Satoshi Nakamoto as the reason they also remain behind the curtains. This is a false flag. Bitcoin is transparent – you do not need to know who invented it. Bytecoin, on the other hand, is obscured, secret, hidden. The only reason to remain in the shadows is to protect the process.

And yet, Riccardo Spagni of Monero has stepped forward. To me, that means, he is “expendable.” (Sorry Riccardo.) That XMR can carry on, without him. Why can’t a Bytecoin developer be so bold?

Could this entire thing be a show, however? Could all the CryptoNote/CryptoNight altcoins be from the same source? Conspiratorially thinking, sure. Logically? Why would they do that? To take the heat off one or two altcoins they want to succeed?

As many of you know, Bytecoin suffers from a long-term crisis of “believability.” For reasons debated on various websites, such as BitcoinTalk.org – which suffers from its own credibility crisis – many do not trust Bytecoin and those altcoins associated with it.

Bytecoin developers react, in what I would term, a “foreign manner.” Not because the “Teto Team” might be from Korea, Japan, Russia, India, Canada or even in my own back yard – near Orlando, Florida in the U.S., but that they tend to “react” negatively to criticism. They ban or delete negative responses. Monero (Riccardo Spagni) does not do this. He engages. Again, this earns anyone accolades.

There are limits to speech, however. If one threatens harm. If one lies, defames – one might have his comment deleted. But to ask questions only to be shunted aside or erased, is not the mark of a legitimate organization. It is the last resort of cowards.

This Bytecoin reaction is, of course, only human. After being criticized for years, by Monero developers and any number of bloggers – me included – they’ve decided to engage the naysayers. To what ends, I am uncertain. Just as I am uncertain that the team now running the show, is of the original “crop.”

After all, Bytecoin lay fallow for over a year then suddenly, when cryptocurrencies blasted off, so did they. A rising tide…

Someone on the Bytecoin team turned the lights back on. While the lights were off, however, the software – the primary Bytecoin Wallet – kept right on working.

I can attest, that never once have I had any trouble transferring and receiving Bytecoin from the downloadable software wallet. The problems always came from the Exchanges. Poloniex, Cryptopia etc. With Monero wallets, I did have trouble. And I’m not completely computer illiterate. I’ve mined Monero, Aeon and dozens of other altcoins.

So, for once…let us take the Bytecoin Team at their word, however. Let us state that they were a group of great programmers, who, like all humans, made mistakes. Their code was not perfect.

Have they fixed it?


Inflation Bug

The most recent bug – what was termed the “infinite inflation bug” – occurred early last year (April – May 2017). The problem affected all CryptoNote coins, including Monero. Monero fixed their altcoin and the flaw was not exploited. Bytecoin was not fixed, before 693 Million more BCN popped into existence.4.


Premine

Let us state, as if it were true, that there never was an 80%+ Bytecoin Premine – and as far as I know, such a statement has never been proved. That, however, is not a defense. The allegation floats like scum on a pond, killing the fish. But, let us state – for now – Bytecoin was never premined in any fashion.

Let us also state, that for whatever reason, the original whitepapers, fudged dates and all, are meaningless. That Bytecoin was launched when the Teto Team said it was. That would explain the alleged premine, if we could believe that miners were at it for two years, before the public was aware of Bytecoin’s existence. It was theirs, why should they share? Do you have a right to their labors or even the truth?

The only other explanations seem to be that Bytecoin’s launch date was pre-dated, the algorithm was tweaked to allow a fast mine for the “Team,” then switched back to slow mining, when they thought they’d had a good head start.

Again, so what?


Rights

If you could build a machine that would churn out 100,000 ounces of gold, would you not churn most it, before you allowed others to use your machine freely? But it’s not about that you say? It’s about trust and community and honesty? That you have a right to another’s intellectual property. You don’t.

You only have a right to what others allow – if it is theirs. And hope that if they made this magic machine – and here’s the rub – that it keeps on working. That is always the concern.

The premine worry, that the magic money makers may flood the market and cash out, exists. So, how do they – the Bytecoin Team – alleviate this issue? They invite new developers. They separate the “powers.” They allow others to oil the machine. They play “Show and Tell.”

Even if we can accept that the current core team does consist of four full-time C++ developers, several developers, a cryptography expert, and a community manager (Jenny), graphic designers, front end developers, mobile developers, and system administrators – does it really matter?

Let us also assume that the current team sometimes cooperates with former team members. So?

The BCN_Official (Ms. Goldberg?) also cited a recent rebuttal to all the scam accusations made against Bytecoin.5.

However, the rebuttal is filed on “docdroid” and there are security concerns if one accesses that website. It is said to “prove” that the scam allegations against Bytecoin are untrue. It does nothing of the sort. It merely points out that scam allegations have “not been proved.” This is true. Bytecoin’s history remains a mystery.

However, the empirical knowledge is a bitch. What we can and cannot see, is disturbing. This is called “evidence.” And from year to year, it grows. Fudged whitepapers. Blogs. Transactions on the BCN ledger.

Now, given all of this, what is the newest information about Bytecoin? Is there any good news?


Based on the AMA, here’s what I found:

No plans to “burn” coins (Old news)

Working on improving anonymity (How?)

Keeping the algorithm unchanged for now

Attempting to add more Exchanges (We wait)

Maintaining developer privacy (No Comment)

Potential Mobile Wallet release (So?)

Understanding that RingCT is not the best solution (Heard that one)

New ASIC coming online might over-centralize mining of Bytecoins (CryptoNote based altcoins)

Upcoming hardfork which make fees “dynamic” and economical (Wait and see)

Its supply is fixed, Monero’s is not (Please validate)

No plans to work on “Atomic Swaps” (Why?)

Discussion of website “BytecoinWorld” – appears to sell “Bitcoins?”6.

Dropping of Bytecointalk.org – too much spam7.

When Bytecoin forks, updates should be easy

Problems persist with Poloniex/not responding to requests (No brainer)

Ledger Nano has been contacted (Care to validate?)

Major marketing upcoming (Oh really?)


Conclusion

In conclusion, Bytecoin has yet to dispel the allegations of its scammy launch. The question then becomes, how can the “Team” clear their names/prove their innocence? Should they open their books to the world and thereby – potentially – defeat the purpose of the privacy altcoin altogether or can they put a warm-blooded human on the stand? One who can clearly and succinctly, prove that all the allegations against Bytecoin are unfounded.

The latter solution seems to be a good alternative. The only downside would be for the rest of the CryptoNote based altcoins. It is very possible that Bytecoin would steal the limelight then.

In the end, no matter how many improvements are made to the application programming interface (API), if the users do not trust the system, it won’t matter.

 

 


Sources:

  1. “We are the Bytecoin Dev Team and we are here to do our first ever AMA on the upcoming Hardfork and Github! • r/BytecoinBCN.” Reddit, http://www.reddit.com/r/BytecoinBCN/comments/845hmk/we_are_the_bytecoin_dev_team_and_we_are_here_to/. Accessed: 3/15/2018
  2. “Monero: titles.Team.” org, The Monero Project, getmonero.org/community/team/. Accessed: 3/15/2018
  3. “Community.” Bytecoin (BCN) – anonymous cryptocurrency, based on CryptoNote, bytecoin.org/community. Accessed: 3/15/2018
  4. “Fraudulent Transactions Allowed by the CryptoNote Key Image Bug Remain Valid · Issue #104 · Amjuarez/Bytecoin.” GitHub, github.com/amjuarez/bytecoin/issues/104. Accessed 3/15/2018
  5. “Upload PDF.” DocDroid, http://www.docdroid.net/. rEKgQUR/bytecoin-rebuttle.pdf#page=5; Accessed 3/15/2018 (Site has Negative Feedback)
  6. “BytecoinWorld.” BytecoinWorld, http://www.bytecoinworld.com/. Accessed: 3/15/2018
  7. “Bytecoin (BCN). Anonymous CPU Mining Cryptocurrency • r/BytecoinBCN.” Reddit, bytecointalk.org/. Accessed: 3/15/2018
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Clif High: Energy, Auras, Inter-Dimensional Entities, and Bitcoin!

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If you don’t know Clif High by now – and you follow cryptocurrencies – I’d be surprised. The thing is, if you try to obtain any recent stuff, without purchasing one of his reports, it is becoming more and more difficult. There are numerous ‘name droppers’ out there who use his name or play older versions of his videos. Even audio clips are fair game. It becomes confusing.

What ever you think of “Clif” as a man, is your own business. His views, Eastern Religious slant, steeped in the stagnant views of the cultures of failure, Buddhism, Gnosticism, I Ching-ism, etc., are well expressed…

But his alleged combination of the scientific method, his blending of math and magic, witches and warlocks, without validating the math (in a public forum) is at best disingenuous. At worst? You decide.

I am of the opinion, that Clif is akin to a Palm Reader.

This is what Clif High does. And really, it’s not much different than what an astrologer does, except we know they are full of it, don’t we? We hope they, guys like Clif or the Palm Reader down the street, might have some special insight, and that is the weakness they prey upon – that all to human thing we call “hope.”

I just wanted to take a little time to “log” a few more of Clif’s words of wisdom for future fun and comparison. Many see Clif as a future seer. A new age psychic. They trust him like you might trust a pastor or a father figure, albeit, a father with some rather radical ideas and zero evidence, empirical or otherwise. In other words, Clif’s predictions, as far as I have been able to discover, are and have always been unsubstantiated.

I went over this video from January 19, 2018. It was a discussion about several topics. But I pulled out a sampling for readers. This is not a transcript. It is a selection of topics. It may help you understand or just confuse you. Two women astrologer types ask Clif a series of questions. What follows is a blur of beliefs. (I will put my comments in parentheses.)

To set the stage.

Clif spoke of spiritual wars (my label), reincarnation, answered questions about sorcerers, and mentioned that in the past, shaman had been targeted for elimination by European powers around the time of the Spanish Conquistadors. He also spoke of people who channel, time, and many other things, including cryptocurrencies.

Here are my selections. In my estimation, one’s thoughts ought to be integrated, but you may feel that contradictory, conspiratorial and even unverifiable beliefs are sacrosanct. In any case, one should know the man, before making cryptocurrency investments – based upon his prognostications.


War, Energy and Cycles

Clif was asked about a war. Not a traditional one, but perhaps a spiritual one. His answers seemed to slip into several areas, so I nut-shelled them herein. They may seem a bit disjointed. Remember, we are in the Woo-Woo world now. Fasten your logic. Suspend all belief, before proceeding.

Clif High indicated…

There has been a shift, people are feeling…there is a craziness in response to these feelings.

We are in a higher level “energy” space Clif said. He explained this energy by referencing what the Russians indicated in 1984, about an energy envelope around our solar system – a cosmic energy – that alters us and our environment. (No source is given.)

This energy and cyclical patterns, such as planetary shifts, depending upon the “spiral relative to earth” … “behind the sun” contributes to a giant energy change. A major cycle, Clif advised, was the 425-year cycle, with a 125-year duration. (No source provided.) And we’ve already “transitioned” [into this duration?] and the “Age of Aquarius has meaning” because of this. In other words, it has a “core” meaning, because of this energy.

(I’m sure you got that, right? Let’s move on.)

To further describe, Clif said that…

…in 1994, we obtained new energies in the form of a “new type of UV ray.”

That UV rays are of type A, B, C, and D now. And D type is rare, with the only recorded reading beginning around 2006 – on the earth’s surface. (Like Wikipedia says – citation needed.)

Clif advised that we are caught within a conflict of energies. That our antennas are receiving these energies as individuals and groups, and then we ‘express’ these energies, but “harmony” is missing on the planet. (What kind of harmony? Blank out.)

Clif spoke of an astrologer who indicated that his (Clif’s) chart (shall we assume his astrological chart?)  indicated that he was…

…“born a warrior.”

Clif feels the “war impulses.” That the war in question, has been going on for a long time, but it’s now at a “consciousness level.” A hearts and minds battle that can be seen in things like the media and the alternative media, and that the latter is replacing the former.

(Does this mean fantasy is replacing reality? What media is being replaced? And by what alt-media? Blank out.)

Clif advised, as an example, that YouTube is thought to be a male dominated media space. The space was used by about 80% males, but that is changing. (Source?) That this is one of the expressions in this larger war. That in ancient times, when elephants were used to fight wars, in the future – due to this increasing energy – we will be shooting energy rays at each other, instead. That this is a progression to the war of consciousness or perhaps between them.

The war of consciousness was again explored. Clif referenced a banned Ted Talk, but he couldn’t recall the details. He said that the powers-that-be have corrected or edited what can be let into our consciousness – as the accepted view of reality. This has been going on for about 500 years.  We are about 425 years into this cycle as the two-major planets circle to our side of the sun. When this happens, major upheavals occur. We are 75 years overdue for a major “social revolution” and a lot of “dangerous thoughts” are breaking out on YouTube.


Inter-Dimensional Beings and Channeling

When asked about the ability of humans to see inter-dimensional beings, perhaps with a sensitivity to the newly discovered UV rays, (remember the “D” ones) Clif explained that “no” it did not work that way. But these beings do exist, according to Clif. They exist in “multiple” forms. Some can be photographed, such as the “strange worms” that fly in the upper atmosphere. These appear to hover over military bases and look down on nuclear bombs and stuff. The assumption is that these worms are “life forms.” (Assumption? Source?)

As for “channeling,” Clif said that there are basically two kinds. One is fraudulent, encountered at times when psychiatrists attempt to hypnotize. This is because the mind will give you any answer. Any answer to get you “off its back,” so to speak. It is similar to extremely enhanced imagination.

The next kind of “channeling” (more legitimate as implied by Clif) relates to meditation, which is the removal of the “discriminating mind” from the process. In other words, the thinking mind is set aside for the “reactive mind,” that you can then respond. A partial use of the mind. In this kind of channeling, you give over a part of yourself – not your soul – but you are not in total control. You move part of yourself from your personality in this process. The personality then supplies the energy to another “entity form” that then supplies the “information.”

(I’m not going to repeat that.)

To further explain, as per Clif, good channeling diverts from meditation at a “very key level.”

In “pure” meditative states, you never surrender the “self.”

The idea or purpose in a meditative state is to examine the self, correct its flaws, model it, and similar. You dive into the self. Whereas, with the “channeling form” or good version, you get it [the self] out of the way and it’s “just not there.”

With the good channeling form, un-reconciled, un-harmonious thoughts, that are out in the universe as “waves” can have enough power to be able to drain or attach themselves like a limpet to the mind, that has moved the self “out of there.” The channeling person then receives information from outside of him or herself.

With this kind of channeling, when you connect with this other entity, you have no idea what the other entity “is.” This entity will tell you things, using what it finds in your mind, letting you hear what you want to hear. The entity does this – channels – by using your “life energy.” (Do we give the entity permission to energy suck?)

At some point in his life, when he was “doing aikido” and when he was “extremely sensitive to the auras,” Clif witnessed “channels.” Clif said, as these people channeled, he saw their “strange” auras as they “dampened down” and went to one side of their head. On the other side of their heads, “threads” extended outward and above, into a “foggy area.” The bigger the witnessing audience, the more energy the entity can gather for the process.

The “entities” are desperate to give you what you want to continue the process.

At the time when Clif witnessed this channel, he was sensitive to it, to auras and such, but he was in control of his self (his “I”). He advised that he was only there as an observer – and he was freaked out by it.

Clif said that he has witnessed this latter form of channeling twice. Once by a multimillionaire (or at least a person who used to be wealthy) but he did not identify the second person.

Bashar. Spelling unknown. This name was mentioned several times in passing. Apparently, this Bashar channels and if you are sensitive to it, and if under some forms of fluorescent lighting, you can see evidence of this process.

Channeling can be dangerous.

The person who channels will “pay the price” in their next life. The price being the inability to tell the difference between “reality and unreality” in that next life. They will be twisted, mentally deficient kinds of people, i.e., schizophrenics. There is a lot of information from the yogis, which supports his “understanding” of this process, Clif advised.


Time and Reincarnation

As to “time” we do in this life, refer to it in a linear fashion, Clif advised. “Perhaps” time can be better defined as a loop, because “within time we know that there are many cycles.” These cycles coordinate, lump together and similar. (Great!) Within this time-loop construct, as Clif understands the cosmology/reality of it, he is but 1/12th of 1/3rd of his “greater being.” There are five more beings (bodies), that may or may not look like his body, when they “incarnate.” These other beings, share his current “I-ness.” There are also six female bodies that share his/the “I-ness.”

The routine, as it applies to the pre-incarnates, is a male then female incarnation in “series.”

Going back to time, Clif explained that this loop of time makes the idea of before and after an inappropriate description. Depending upon what part of the loop you or your incarnate occupy, as the loop runs (my understanding) you may be recycling in a time – re-looping.

Clif also indicated that there is a “long rest” period between your heaven and your hell. The more energetic you are in your life, it is thought, the longer the rest is. And those who do not get enough of this pre-incarnate rest, can end up insane. This also explains why high-energy people will “betray” that they have an affinity for a time in the past. In other words, they were resting longer and that was their previous time loop period – as I understand it.


Regression Reading Theory and Coaching

Regression to 500 years or even 3000 years in the weird time-loop, also explains this long rest idea, Clif advised. For example, during regression research, people may give bogus information, but information from the last correct time-loop period, in which they lived. This explains why some might report that they were Cleopatra in a past (time-looped) life, when they may have simply lived in that period as a common citizen.

Both the psychic and participant during a “reading” (regression process), can be described as “antennas,” Clif advised. Each is a “standing wave.” In other words, they are not solid, really. The balanced and sensitive psychic, via induction, due to his/her proximity to the participant, picks up the broadcasting/receiving from the participant. Psychics induce a sympathetic ripple to see what is going on inside the participant’s standing wave. Although the “reading” may be 100% valid, the source is unknown. Whether it emanated from the participant’s mind or was expressing some “temporal peg to what’s going on.” Hence, questioning is a good idea, but discounting the reading’s impressions are not necessary.

As a standing wave, however, we are not necessarily in-tuned to our own interpretations. (Unclear.) A psychic’s mind might receive “temporal peg” impressions, like the type of clothing a person was wearing in a past life.


Speaking in Tongues

Clif advised that “speaking in tongues” could be a sign of mental health problems. He refers to it as the first kind of channeling and that it is false or invalid, if it is deliberate. Often these “snake handler” types induce a fugue-like state, but it does not necessarily involve a connection to the entities, previously indicated.


The Standing Wave Antenna User Manual

Some psychics use a Daoist-like (or Tao) system to read people. This is similar to sampling the zeitgeist at a given moment. In the Dao, the Dao that can be named, it is not the Dao, Clif advised. Or the pulse that can be named, is not the pulse. Once one says or identifies the “pulse” it has already happened many times over.

This kind of “awareness sampling” is using our standing wave antennas, taking a snap shot of “it” at that moment, as a representative sample – of where the rest of the universe is – and seeing how those vibrations are then influencing our standing wave antenna. This is an extremely valid way to guide yourself through reality, Clif said.

The Chinese formalized this system in the “I Ching,” and things like the divination sticks. Other societies would “gut” chickens and read the entrails. These are attempts to read the “pulse” that is left on reality, Clif advised. Using these readings, as our brains are pattern matching machines, people would then forecast the future.

In a sense, this is what Clif says he does. He samples the zeitgeist using different languages. In a psychic’s process, if they can keep their standing wave antenna properly aligned (my explanation), readings might be more accurate than Clif’s (webbot?) process. But only if the psychic can filter out “the mind” which will try to answer the questions posed and trick the psychic. As a way to ‘tune in,’ sometimes the psychic will need to coach the mind to relax, to let go and not answer questions, to just be there, that one can hear the “pinging of the universe.” This is really where our “psychic envelope” exists.


Not as we see

Our bodies are not as we see them. We are layered egg-shaped energy fields. The key, is to tune yourself to reach out to your own fields and feel the other energies coming in. In this way, a psychic, may sense the evil (my word) energies coming from others and actually have a physical/emotional (fear) response.


Gnostics.

The Gnostics were trying to say, and Clif agrees with them, based on reviewing evidence, that the Archons are real. They are easy, usually, to defeat and have to do with the war, mentioned previously. Think of them as the dark side of the force, Clif advised.

Clif indicated that the killing of a Gnostic leader (Hypatia) in ancient Greece, is directly related to bad things happening thousands of years later. He spoke of the destruction of the Knights Templar, by the Roman Catholic Church and the King of France. The Inquisition then, began since the Templars were out of the way.

Later, when Gnostics in Southern France were reincarnated, they recalled this battle against them. They may not have had the “knowledge” of past lives, but the viewpoint goes from life to life to life. As an example, Clif advised that in his next life, he will still be the same old bastard.

However, Clif does foresee that for the next few thousand years, we will subdue the Archons. Then things recycle, and they, the darkling ones, will subdue the good.


Turning People

There was an interesting discussion about how the Japanese, during war, turned enemy spies into weapons against their former masters. That this was considered the best weapon of all.


The Truth

Clif also advised that holding to the truth (that was the truth) was also a great weapon. (Make sense?)

The universe provides what we need to struggle against; the challenges that we need. We may not necessarily want those challenges. You can even ignore these challenges, but eventually, even if in a future life, you will have to accept and deal with them.


Sexual Intercourse and Pedophiles and other Conspiracies

It is possible, that during sexual intercourse, a bidirectional energy exchanges occurs. That this process – exchange – builds one’s energy. The exchange energy transmits through the vagus nerve system and other parts of the body, except the adrenals.

Why is this important? The pedophiles of course! Because those pedophiles want to extract youth/longevity energy from unwilling participants. They attack/dominate children to accomplish this. In a pedophile’s mind, after puberty, those youth energies and the post-pubescent persons themselves, are less susceptible to theft or extraction of their “energies.” After puberty, certain key forces (vibrations) – energies – do change, according to Clif.

The pedophile thinks he/she can harvest the adrenal (maybe he meant pineal) glands of children(?) and make this into a drug, that may be taken intramuscularly. They are attempting to obtain a portion of the “distilled universe” in the form of adrenal gland extract(?) – and get something out of it.

(The above appears to be based on a conspiracy theory. See this video for more. If this has any truth, however, it is disturbing. Thus far, I have found zero validation, however – so don’t sweat it.)

Clif advised that there is an addiction side to this issue and if you research Satanism, for example, you will find the underlying idea of an energy transfer. An energy vampire etc. Drinking blood? CEO’s from corporations transfusing blood from children? (Come on. Where’s the source Clif? Just one.)

The implication here, is that the system (powers-that-be) is just now coming to grips with the reality of all of this and it will take years to get the word out. Clif gave an example of Prince “Chucky” who had a life-long friend who was a necrophile. The implication, Clif implied, was that the prince might also be involved. And that the English have not reconciled this problem. The House of Windsor will fall? (No sources given. Careful Clif, you might piss-off a Royal.)

Clif goes onto hint that Obama’s $64,000 pizza parties were related to pizza gate? That Oprah Winfrey knew? (Careful, Cliffy.)


Zen’s Lenses

Examining the “I-ness” in a Zen State, where nothing else exists. As you head in this path it makes you question things. The universe makes us as we are, Clif indicated, bringing us into existence at a particular time and place, under stars, aligned to prescribe our characteristics., i.e., astrology.

In Clif’s case, he was brought into this universe as a warrior, in a time of warriors – at the height of wars. That’s why he spent nearly two decades in the military. (That’s what he implied.)

The best that Clif can do, even in times of peace, is to harmonize with the universe – as it designed him. To become the best warrior he can, at every level. (His words.) That we are essentially universe tools. That “universe” (not ‘the universe’) has a task in mind?


Cryptocurrency Related

Bitcoin, after it is mined out, will still have things like Rootstock. Fees can still be collected via running smart contracts and therefore support the network. Bitcoin becomes scarcer at that point, but it also becomes more of a known factor.

Moving on.

Litecoin, will reach approximately 1/5th of a bitcoin in value. It will be used for point of sale and Amazon might use it as well. No dates/times given.

Pillar, will have an unknown price point, but it will become the primary wallet to compete against. March 2018 is good?

Populous, is a strategic hold. Passive income. Years in the future, holders may be like “trust fund kids.”

Ethereum will continue its up and down pattern. Competing against bitcoin and because of its niche, it’s against EOS – the Ethereum killer. It will also have to contend with Rootstock.

Monero and Cloakcoin are showing up in Clif’s reports in small numbers – bits of chatter.

Sidenote: The use of cryptocurrency in any large way, by drug cartels and such, would spike their prices – bitcoin at millions per coin. It would be difficult to use cryptocurrency in this way.


Other

Attention EconomyClif mentions “Metcalf,” but he was uncertain of the name. Compares cryptocurrency or interest in it, as a self-driving force or growing attention economy. A positive feed back loop and not a tulip bubble, for example.

Hydrogenated Water – Clif says it gives you energy, but magnesium additives leave residues. The hydrogenated water does not alter the taste, he said.

Shampoo and Deodorant – Clif says he doesn’t use either. But he does use natural sandalwood soaps…and they are “harmonious.”

The Chemtrail Conspiracy – Someone has to be paying for them. The military has become very subcontractor dependent. During the recent government shutdown, Clif posited that these contractors might be exposed, if payment for their services did not arrive. The implication was that the government is paying for the services.

On 9/11/2001 – when the terrorists knocked down the Twin Towers – everyone should have been aware that the chemtrail spraying stopped. (Planes were grounded.)

About four days after planes were once again allowed to fly (in the US) after 9/11, the chemtrails reappeared. This, according to Clif, validates the conspiracy. (Source? None.)

Thinking and Destiny – Clif mentions a book titled Thinking and Destiny. He explained that some of the ideas he discussed herein, are from that book. He gives a short synopsis of the book in the video, about Doers and Thinkers and how this process of learning is carried over during reincarnation. (Note: some fiction authors read this book.)

Alcohol – Drinking as opposed to using marijuana, opens one up to Archonic (evil) forces. The translation of the Arabic word for alcohol, for example, is ghoul, Clif stated. To decompress, one should use one of the seven plant teachers. Clif gave an example: THC. Clif said he tried to drink when he was in his 40’s but it messed with his vibrations.


And that is all for now. I hope you enjoyed this version of reality with Clif.

Be careful where you get your cryptocurrency information.

 

— JGS

 

 

 

 

 

 

Bytecoin (BCN): Russian Billionaires and Fabulous Resorts?

This is your Bytecoin update, minus the hoopla and charts. Cue the music and watch your wallet.

The red flags keep coming. Buy BCN? Please.

If you have perused any of my past blogs (see below), I’ve, on occasion, written about Bytecoin. It’s one of those older cryptocurrencies, that never quite got off the ground. Not like Bitcoin or Ethereum or even Ripple. Sure, people have been interested in it – like me – and then they dropped it. Like me.

Why? Because the answer my friends is blowing in the wind – just like that song. You need only to sniff Al Capone’s cigar.

Bytecoin does not pass the smell test.

Maybe in the deep dark future it will. But not yet. Not when cryptocurrency exchanges dump it or freeze it for months on end. Not when the Bytecoin website goes dead for over a year, then rises from the ashes. Or is that, “sneaks from the shadows?” Not when most exchanges won’t touch it…after years.

Investors have consistently lost money in Bytecoin and it’s happening all over again. It’s called learning the hard way. It’s not like the other altcoins…not by a longshot. And investors need to know this…again.

Fast forward five years. Present day. After all the deception Bytecoin has shoveled out.

Cryptocurrency and blockchain curiosity has now enticed new investors to risk yet more money in Bytecoin…and many other altcoins. The current cryptocurrency (blockchain) environment is a feast for start-ups, with access to easy money and absolutely, it is a boost for innovation and business. It is, unfortunately, a boon for criminals and the mob. Milk money. A fool and his money are soon ruined. It is why governments, in their infinite wisdom, often reach in and “attempt” to pull the plug.

Bytecoin deserves a special mention – again.

And as the years pass, the more often it seemed that mobsters were peeking around the bushes. Did I say there are hints of mobsters – organized crime? Yes. But you be the judge. I know I’m making serious allegations, but hear me out.

Bytecoin is not like any cryptocurrency on the planet. Yes, Monero used the same tech in the beginning, based on the CryptoNote protocol. Arguably, Aeon and Electroneum are born of the same math-cloth. And there are other altcoins that utilize the protocol. Even these others, must be used with caution.

The point is, with Bytecoin, the “rabbit hole” is a game. The mystique is simply there to make everyone chase their tails, whilst the rabbit – the Bytecoin creators – sit back and reap the rewards, in the millions of dollars. It is, like many other altcoins, a money blackhole.


Ask these simple questions:

  • Why do all the Bytecoin/CryptoNote developers hide?
  • Why are all the names associated with CryptoNote and Bytecoin either pseudonyms or “handles?”
  • Why have none of them come forward – not ever?

Here’s the standard answer: to protect them from prosecution. But given the stench, the threat of prosecution is real – for them. Very real. For you? It’s the loss of your money.

Should governments find them, Bytecoin developers would, like Monero and Aeon (but not necessarily Electroneum) suffer. Sure, others could simply copy the code and start over. Dip into the repository and begin again.

“…organized deception.”

To think that they can hide forever is hubris. Monero at least tries to put a good foot forward. Aeon developers are hidden. Bytecoin is off the reservation, however. The outward appearance speaks of organized deception. All of it.

In fact, we do not even know if the current developers of Bytecoin are even the originals. We have no idea if they are (or were) good people and judging by their responses on Reddit and other social networks, they leave a lot to be desired.

As a former law enforcement officer, based upon decades of training and experience – they remind me of the thousands of thugs I have had the pleasure of investigating.

Could I and others, be wrong about the Bytecoin crew? That Jenny is an honest soul, trying to keep our wealth out of the hands of corrupt governments? (I’m sorry Jenny, but you and your friends make it too easy.)

How about this recent tweet on January 5, 2018?

BCN Tweet - Copy

 

Is it Sheldone.store or Sheldon.store? The latter is a brand-new site. Buy with confidence? The former listing seems to be an error, as well.

And Check-coin.com? A new store accepting Bytecoin in a high-risk countryBulgaria? I’m not even going to link to this site. I don’t want to risk your computer, let alone your bank account.

How about this recent glowing report about Bytecoin —  from Decentral Magazine? A brand new, but popular website? If so, why is Decentral Magazine keeping their facts private? I mean I do, as an individual, use a pen name, but my website location is not hidden. I’m in the United States. Any court order can find me. But would not a news magazine want to publish their reputation to the world? And why did the article omit Bytecoin’s negative past? Was this a paid advertisement? Methinks…yes.

How about that fabulous resort in Montenegro? Dukley Hotel and Resort? If you check Scamadviser here, the website is new — and could be on a compromised server. Careful if you visit the website. But you can spend your bytecoin there. Here, try these glowing reviews and don’t forget to expand the “weird” comments. The rest is self-explanatory and telling. Here’s the Google 3-D Map link. Why one reviewer thought of Russian Billionaires is curious.

And there are other new concerns…

Art at Gabo? It’s a new site. You can spend your bytecoin on a nice cell phone cover, a bytecoin t-shirt, even a BCN coffee mug, if you are so inclined. The site appears to be in the United States. Use at your own risk.

Lebytecoin.fr? I’m not linking to it. Scamadviser says it’s on a compromised server. Risky.

Sakama leather goods is an older site, but its owner is hidden. I only buy my leather goods from the “unhidden.” You know, in case I need to return them.

BytecoinMarket.com? Yet another new site. Visit at your own risk. Here’s the Scamadviser on it.

All the above is only to make you think. Yes, in a perfect world, we would all buy our goods in private. No government bureaucrat should watch our every transaction and bytecoin is one offered solution. But pick your solutions wisely. Do not enrich the wrong organization.

The above is not investment advice. It is just information. Take it as you may.

 

Suggested reading:

 

Zcash v. Monero: The Friday Night Fights

Hello Crypto Dudes and Dudettes,

This is just a nightcap, a final bit of juice for the day.

Recent internet chatter pits Zcash against Monero. It seems that some Zcash supporters are citing or linking to an older evaluation of Monero. One that is not so glowing. Hints that Monero is/was traceable.

Is it? The question seems to hang like bad meat in a broken freezer – in South Africa.

Other allegations imply that Monero is Mickey Mouse, essentially.

Apparently, Edward Snowden has weighed in. Zcash it is.

The peanut gallery is crying foul. Snowden is a shill, a paid endorser…really?

But shouldn’t you at least consider a private cryptocurrency? Bitcoin is traceable. Why wait?

So, what’s in your wallet? Governments already know. And some hackers.

Choose wisely.

And if top academics did help to develop Zcash, who cares if they did not “implement” the actual coin?

That’s one lame argument.

If a rocket scientist shows you how it’s done and you build a brand new shiny rocket, it’s still a rocket. Even if you used old Nazi science – old V2 methods – for some of your “code.” (I’m hinting at the use of bitcoin code within Zcash.)

We know that bitcoin works. We have never seen Bytecoin take off like that. (Note : the Bytecoin link may not work.)

Monero has moved onto higher ground – as – I might say – it’s a “people’s coin.” Grass roots.

Zcash is beholden to their sponsors, right?

But that does not mean we cannot or should not profit from those who back Zcash and therefore “pump” the coin.

The continued success of Zcash – a very volatile coin – is still in the weeds. But judging by bitcoin’s success, is Zcash the best of both worlds? Private or public? You can show and tell or…not, right?

To defend Monero – that it too is based on the works of academia – is disingenuous.

We know those who developed the Zcash/Zerocash process. We cannot verify the existence of a single coder or developer of CryptoNote/CryptoNight – Bytecoin – not one.

And yes, I realize that we do not know Satoshi Nakamoto or his counterpart in the CryptoNote universe – Nicolas van Saberhagen.

That’s not my point.

This article helps to clear the air a bit.

Monero/Aeon, remain the underdog(s) – for now – as far as I’m concerned. And lately Aeon has spiked. We’ll see if it holds.

Certainly, Monero and Aeon are better at holding the line than Zcash. That’s a tell.

Apparently, Edward Snowden doesn’t have time to check the crypto-markets to verify this fact.

That’s all for now.

The Ugly Truth About Bytecoin

 


Why do they hide?

In my recent audio blog, I review some important aspects of Bytecoin. Things they — the Teto-Team and Jenny — don’t seem to want to talk about.

Audio blog: The Ugly Truth about Bytecoin

 

Bytecoin: The Good News?

Dear Readers and Listeners:

Be careful of those dark cryptocurrency streets. You never know who is out there…

I’ve been tracking Bytecoin (BCN) for several years. Reported on it in other blogs and have had the good luck to contact some of the movers and shakers of late. Those who are developing new websites, businesses, videos, and news blogs. They are marching steadily forward with an eye to business adoption and commerce – and not just events and interviews, like we often see with other cryptocurrency “hype.”

That is not to say that Bytecoin can’t be hyped like any other coin, but clearly – people are beginning to creep toward adoption. With all the past negativity surrounding this coin, I am amazed. They predicted collapse of this currency has not yet happened.

And just to straighten your head out, I don’t currently own any Bytecoin. I have in the past, however, and am once again considering an investment.

Bytecoin is refusing to die. Not only is it refusing to die, the newest set of supporters are pushing out, worldwide – if the ads are true.

Perhaps, and this is conjecture, it is not that Bytecoin is a wonderful cryptocurrency. Perhaps, it is riding the success of Monero (XMR). It’s brethren. Or maybe Monero’s fame is making people more curious. Both coins are dark horses. Both are essentially private, but which one operates better? You be the judge.

So far, we know of at least two new names associated with Bytecoin’s reawakening: Jenny Goldberg and Pundit Pawan Sharma. There are others, we are told, but everything seems to be in the works for now.

Anonymity is the idea here, so I wouldn’t expect more names to be released soon. If we can accept that Goldberg (probably another pseudonym) is in contact with the original Bytecoin developers, she is probably keeping a low profile for obvious reason.

Goldberg could also be one of the originals or a new owner of the code. We just don’t know for certain. And uncertainty – and money – don’t mix well.

But…we live in an uncertain world now.

Is this why Bytecoin might work in a world where money itself is becoming more indeterminate each day? Where the value of our paper fiats is falling or like in India, cash is made valueless overnight by ruthless politicians? Where even the old standby, gold, cannot seem to rise to the occasion?

We often think of price manipulation when it comes to gold – and silver. Why, in the face of fiat currency devaluation, have the price of the rare earth metals not risen into the stratosphere? Is the answer as simple as: we do not use them as money – currently? If we did?

Certainly, this is all food for thought.

The teams associated with Bytecoin are – if we can believe it – from India (Delhi, I believe), Russia, South Korea, China, and Singapore. I’m not certain if Jenny Goldberg is from one of these countries. I take it that Community Managers exist in these areas.

One question is of course, how does one become a Community Manager? Does Goldberg appoint them?

Pundit Pawan Sharma is from India and his website(s) can be found on the internet. Bytecoin.org.in is one of the Indian sites. The domain age is recent, so it still has not attracted a lot of traffic. That might change. The website is professional.

It is my understanding that Sharma is one of the Indian Community Managers.

Regarding the resurgence of Bytecoin, the new Community Managers have requested and received changes to the Bytecoin Road-map, through Jenny Goldberg, according to my research.

It also appears that the new managers, however they are appointed, are more interested in use-case scenarios. India and the reports of temple donations. Or are these only publicity stunts?

Maybe not.

What is different this time, however, is the connection of Bytecoin, with real people. Well, check that, the connection between Goldberg and the Bytecoin elders (allegedly) and the newest crop of commercial folks trying to give it a go – again.

Before, we had a list of personalities. The early Bytecoin crew, as it were. The Teto-Team. A team that kept quiet after writing some pretty high brow articles on Bytecoin.org. Guests also blogged for the Team.

But the blogs often carried a note of foreignness. Something distinctly not “English,” but close. They – the Bytecoin blogs – had a sort of choppy feel. In fact, they still do.

Might the Teto-Team be real people? They could just as easily be complete fiction. If that is the case, it would only be more fuel for the fire. A conflagration of trust.

It would be nice if they – the Teto-Team – could arrange a meet-up on the internet or appear at an event. Not necessarily a public one, but a verifiable meet-up. Real people in silhouettes answering the hard questions. Even Zcash has their “ceremonies” and judging by their continued success, publicity is working.

There are hints that this might soon happen. That the Teto-Team might pay us a visit?

I think I could even drum up some questions, just let me know. In fact, I ask that anyone who has a question for the Teto-Team or Bytecoin in general, leave them in the comments below, go to my Reddit or even peruse BitcoinTalk.org.

What is important about this connection, however thin, to Monero, Aeon and the surviving CryptoNote cryptocurrencies? Bytecoin was allegedly the first mover, but became sidetracked. Why?

There are many reasons for this. Alleged pre-mine scams. Fudged whitepaper dates. Creating more coins than allowed by the original software. But the coin has never died. It has refused. Why? An ongoing scam or not?

Is it just the loads of newbies (new investors) piling on? Are the Bytecoin dev’s simply skimming a few more bucks off the top as the ship sinks? Are Reddit account full of shills and sock-puppets?

We are told this is not the case.

Regardless of all the negative, more positive seems to flow from Bytecoin now. Maybe.

There are vendors coming online. Ben Tea is one. The site’s listed owner is Ira Sharma out of New Delhi, India. It’s less than a month old as of September 26, 2017. You can load up Scamadviser.com to get a read.

Here is a new site: Bytepay. Founded in August of 2017, according to the website. The site might be in Germany and/or the United Kingdom – according to Scamadviser.com. It is a payments solutions company and offers shopping cart plugins. The website features a video.

And All Things Luxury is new another site where you can spend your BCN. The domain age is over six years, but in this case, the owner is not listed. The website indicates a Canadian address and Scamadviser.com shows a US based website. Currently, one can pay with Bitcoin and Litecoin, but there does not seem to be a direct Bytecoin pay method.

And there are others.

Although Bytecoin lost Cryptopia’s business, it is picking up CoinSpot. They are in Melbourne, Australia, which is interesting because Cryptopia was in New Zealand. When you run Scamadviser.com you find that CoinSpot is a highly trusted website based in the US. Russell Wilson is listed as the owner.

The new BCN Wallet (web wallet) appears chancy at best. The site is less new and appears to be located in the US, but the owner is unknown.

A mobile (cell phone) wallet is next, we are advised.

By September 28, 2017, Bytecoin will have a new website. I expect a surge in volume and prices when – and if – this happens. Forgive my skepticism, but Bytecoin slept for a time.

If Bithumb begins to trade Bytecoin, all bets are off.

There is also a YouTube Channel for Bytecoin now: Bytecoin BCN. It was from the comments on this channel that I came upon a hint about a Litecoin and Bytecoin cooperative venture. But I find nothing about this online. The reporter left no link or other way to verify his assertion and he has not responded to questions.

What is the solution to all of this? How can we preserve the privacy of the Bytecoin creators and come to understand the coin’s history?

There are so many variables here. Who is holding most of the Bytecoin? If 80% of the coin can be dumped on the market at one time, who will ensure the coin’s survival after that?

Think about that. If you could stash 50 million dollars, secretly, and live happily ever after, as the creator of Bytecoin, why would you continue to work?

And maybe that is the answer. If Jenny Goldberg has the keys to the code, then maybe she can ensure its survival or live off the proceeds, like a common criminal.


Jack Shorebird

 

Bitcoin: “Attack of the Blockchain Clones”


Dear Cryptocurrency Enthusiast:

Do you ever feel that some people need a good kick in the brain can?

Recently, I came upon a political night-rider imparting an alleged moral foundation. An alleged gem upon the cryptocurrency seashore. Only, it was a sharp stone.

I had discovered his name before, but until recently, never endeavored to explore the influential nature of his words. Never, do I hope he will be more than a crab upon the shore of true freedom. An insect at the beach.

But just in case…

I think now is a good time to mention him. Before your children say his name. Before you feel ignorant, and just in case he makes a name for himself. Which, he won’t.

Before all of that, you can say, “Yep, I have heard of him and Karl Marx. Do you remember the Jews that the Nazi’s killed? Great, I’m glad that the government schools still teach that. Well, anyway, same idea…”

***

His name is Amir Taaki, but he is not the real issue. It’s his personal software that is questionable — the programming in his brain.

Taaki is a coder of some repute, as well as an anarchist of vague degree. Meaning, as far as I can judge, a person who does not understand that an objective form of government is required to maintain individual freedoms. Therefore, Taaki is a liability upon the world stage. A regurgitation of the past.

Taaki is involved with bitcoin, having worked on Dark Wallet, a precursor to OpenBazaar and other projects, but that does not concern me as much as one of his potential teachers. The person or people who have coded him.

Taaki appears to “lack philosophy” as he implied when he was in Syria. What does that say about the man? It says the name of another man, actually. An American hero some might have called him. Others refer to him as a philosophical villain.

His name is Murray Bookchin. He was mentioned by Taaki, when he (Taaki) was fighting in Syria with the Kurds, against ISIS. Supposedly he had just come to lend support, but not to fight. A self-imposed duty called. He took up arms.

There is a warning here. Historians already know of its potential significance. It is not about what Lenin did to Russia in this case, but what America (via Bookchin) is doing to Syria. Invading Syria through what is called Communalism. Not communism exactly, but a shade of it, certainly.

Bookchin was an American anarchist, libertarian socialist and political theorist. He often reflected upon class struggle, was an avowed anti-capitalist, meaning that he was essentially against free and fair trade. He appears to have influenced Taaki and some factions fighting in Syria, for the greater glory, naturally. But it is not the glory these factions are after, as much — and more probably — a sort of militaristic socialism.

Anarchism, is of course, gang rule, with no objective laws, where the most ruthless criminal can rule just as easily as a moral king. One cannot conveniently redefine it, but Bookchin tried. Taaki is trying.

The US, as of yet, is not ruled by anarchist fiefdoms. We are not yet at the stage of full revolt. We are not ready to substitute one form of tyranny for a Bookchin Communalistic Paradise. Nor should Syria be led down the Bookchin road.

Bookchin’s revamping of communism is a claxon. Know that the bells have sounded. Long before Syria, Turkey, Iran and others – fell. If that will happen. If it does, and I hope it won’t, fingers will point. They will point at Bookchin.

The disease is spreading.

And please tell me that Bookchin and Blockchain are unrelated.

Bookchin wanted majority vote, but not majority rule and he tried to explain that one for years. He also wanted assembly-led enterprises. In other words, no free enterprise at all. A type of social dictatorship, but not quite of the communist model. It is often referred to as a “communalist” type of organization. Community led — scratch that — community ordered, comrade.

Looking through the Murray Bookchin filter, as some are want to do, lends lethality to the drumbeat call for decentralization. Not for the blockchains, but for humans. The only difference is that humans are not chained in the first place. We are not part of some giant cloned ledger.

There is no comparison between the technology of bitcoin and individuals.

Anarchy, as espoused by the Bookchin-ites, is not decentralization as some might ask you to believe. It is disorganization. It is decentralization of organization. Divide and conquer. Disintegration. A rapid breakdown of morally based laws (we can argue about that) in favor of range of the moment substitution. Pragmatism v. reason. Honesty v. “get it done.”

And here is the social mirror some are suggesting we hold up to the blockchain ledger. If bitcoin or better yet, if some private cryptocurrency ledger can organize an accounting method, where everyone’s currency is safe and secure, why can’t humans be like blockchain ledgers? Hold the power to self-manage? A type of self-organized dialectic.

Dear readers, we are not Blockchain Clones. We are individual people, all with different abilities and desires. Our intellectual savings differ. Our ability to mine knowledge, to produce information, to educate, are all different. We are not cryptocurrency clones. We were never social “smart contracts.” We are different. Blockchains are identical.

The ideas of cryptocurrency decentralization are not transferable to the human context. Blockchains are not anarchistic representations of social structures, but orderly algorithms without emotions or desires. They are arbitrary and robotic rules of math, editable by humans. Controlled by a few humans.

Pause here. We own the process of blockchains. Not the opposite.

If we transfer the decentralization aspect of blockchains to society, we become numbers on the social ledger. And some few “developers” will control the technology of the social blockchain. A small core group. Hence, the idea — the false flag — that blockchains are decentralized only refers to the nature of the ledger. In fact, the technology is highly centralized.

To gift humanity with the ability to transact, without the necessity of an intermediary? Without humanity? A digital promissory note to ensure that contractual transactions are completed? That is the promise, right?

Where is the human watchdog? Answer? Blank out. Who is watching the developers? All of us? Can we influence their process? Maybe. If they refuse to give us what we want? We can use Litecoin, right? We can try some of that dark net stuff — Monero.

But where are we then? Back to yet another centralized blockchain. A programmed ledger we can clone and use. We only hope the developers stay on the job. Hope they don’t act in a way that will destroy the value in our chosen coin.

This being the case, to engender trust, the math of cryptocurrency should be provable, verifiable, and secure. It should be objective and not subject to the whims of cryptocurrency developers.

This is a tall order. It requires human cooperation. It requires auditors. It needs checks and balances. Some type of transparency.

The people who control the math should have watchdogs at their heels. Inspectors, not beholden to the math-makers in any way, should have complete viewing access to the code. If something is amiss, they should report it to the public or be jailed for complicity.

It is called the “human element.” Imperfect, for sure. But why it is required? Obvious, is it not? Some humans steal. And, what does absolute “monetary” power do to humans? What does any kind of communal power do? It corrupts them.

Bitcoin can be audited. Anyone can access the code and audit the system. Anyone can trace any transaction, which, unfortunately, is unfavorable to human privacy. The other problem is, as I have mentioned, bitcoin is centrally controlled by a handful of developers.

Machines are oblivious. Algorithms have no feelings. They are not concerned about where you buy your booze, that you have a health problem or if you like romance fiction — with photos.

Maybe the auditors cannot read a name, find a home address without a court order, in some cases, but much can be inferred from the transaction records of bitcoin and clan. Much privacy is lost.

Could this have been the noob “selling point?” We are all one? Your money is mine, sayeth the dev? Bitcoin or Nirvana? Decentralization at all costs? Why Taaki might support the idea for human consumption? Developers are our new rulers?

To ensure confidentiality, bitcoins are sometimes transferred via mixers to stop the auditors in their tracks. But there are other problems.

Suffice it to say, bitcoin coders are still working on Dandelion. A way to secure transactions — to obfuscate IP addresses and so on. And there are arguments about the process as well.

Privacy is a difficult maneuver in the cryptocurrency realm. Many projects exist. Dash, Monero, CloakCoin, NavCoin, Aeon, and even ZCash. The idea is to obfuscate the transactions in such a way as to keep everything as private as possible.

The problem then becomes one of trust. How do we trust a cryptocurrency that cannot be audited in certain ways? Shall we watch the “old guard?” The bankers?

Answer? Yep. Profit from their “transition.” Why not? Profit as JP Morgan Chase adopts Zacash software. Why not?

Let’s consider a real-world comparison example. I mean, even if privacy based blockchains might fail in the wild, as it were, it does not mean that governments won’t take up the mantle of public (transparent) bitcoin.

Cash is an anathema, to highly centralized governments.

If I go to the store and use cash to buy a soda, the clerk takes my money, gives me my change and I walk away with my drink. There’s no record of me personally buying that soda, in most cases. My cash was private. I stored it in my wallet, walked into a strange store, didn’t care to know the address and exited with a cool drink.

If I’m a bad guy, I can use my cash to buy a Russian Suitcase Nuke, but it’s risky. Complicated. I can do a dead drop, place my cash in a bag and hope the suitcase is left at an agreed upon location.

As a terrorist, I could exchange cash for plastic explosives in Syria, say near the Iranian border, but I should probably have a bunch of soldiers with big Kalashnikov rifles to protect me.

If I’m a cocaine dealer, I can stand on a curb, risk being arrested or robbed and shot at any second, and accumulate cash.

How can criminals magnify cash (currency) using a private cryptocurrency, however?

Nearly instant international payments — until they are stopped.

A security nightmare, but freedom and security have been at odds for a long time. A balance most difficult to find. Betwixt and between centralization and personal security. The desire to be free and desire to be safe. Power and irrelevance. Privacy and publicity.

Cash can’t fly, but banks can — even unwittingly — assist with international criminal remittances. But why pay the bank fees and risk investigations by Interpol?

Hidden internet markets where Zcash, Bytecoin or Monero can be used to purchase stolen credit card numbers with no risk to the seller. This is a real problem. Try to buy a list of stolen identities with bitcoin or cash. Much more complicated. Increasingly more problematic as governments tighten money transmission rules, ostensibly to catch the criminals – oh, and the tax savers.

To state that private or “mixed” cryptocurrencies do not or cannot assist criminals by asserting that cash is king, is not giving the “international picture.” Sure, private cash is a double edged sword. It gives the power to individuals, but it also magnifies the powers of groups — and criminals.

The decentralization of the network is, in this sense, misleading. It is simply a method of financial attack.  It’s called overwhelming force, by swarming. The use of a decentralized force against an opponent, in a manner that emphasizes mobility, communication, unit autonomy and coordination and/or synchronization – from Wikipedia. Create an army of like ledgers, cloned nodes and depend upon the masses to keep the fires burning – keep updating their ledgers.

Alas, however, this is a hushed and feeble war.

Do you see it? It’s one ledger, with a cloned horde that can attack day and night anywhere there is a piece of tech, an internet connection and voltage. But who controls the tech-gear, internet and the electricity?

And in real war, real change, the armaments are diverse. The attack vectors erratic. The volume of force, unknown, until it is too late. Currency is one vector, but it is a main one.

Time to rouse from the daydream, crypto-noobs. For now, crypto is dependent upon the old substructure. That is where it rests. That is where it should gather its trust and strength, but not form its misplaced revolution.

This is not the anarchist core. Blockchain is not anarchy. It is not order from decentralization. It is the clone army. Hit the command center — the developers (core team) — and it folds like a cheap suit. The clones will become weak — unless someone creates another cloning machine — feeds them “updates” — debugs them regularly.

And this dreamed of moment of truth is crucial. It can be subverted. Others can subsume its power to encapsulate the population(s). We must have watchers in place. No Taaki’s should subvert the message, without a fight.

I have no desire to be a part of a crypto-horde and, await the day when this old-fashioned ledger technology is jettisoned in favor of an atomic cryptocurrency, without one. To me, that would be the Holy Grail. A true cryptocurrency. The evolution. (An idea not so well received by the Murray Bookchins of the world.)

Individualism is not reliance upon yourself. It is voluntary cooperation with others. It is the very essence of freedom. Blockchains — if transposed to governing — is slavery. What did Bookchin want? What does Taaki, and admitted drifter and squatter, want?

But I’m just a voice in the wilderness, far from the Murray Bookchins, communists, socialists, Leninists, Trotskyists and Communalists of yester-death. Many sounded the  alarm before me — about Murray Bookchin and Occupy Wall Street.

Until then, the blockchain-clones are the best thing going in finance, if only because they usurp the power of central banks in some small way.

And if the “old guard” finance houses have judged Zcash as great tech, we can profit from their interest, me thinks.

And it concerns me that more and more big guns are coming out of the closet to “protest” the bubble of bitcoin – but not Zcash? Not Bytecoin or Monero. Why now?

What else do these big guns know? Do they have insider information or do they want to quash cryptocurrency altogether via regulation?

And a final thought…

Are Satoshi Nakamoto’s original coins really sitting dormant? Would it not be masterful, if they weren’t really there?


For those of you who understood my blog yesterday and profited – bully to you. Occasionally, I get them right.

For now, Zcash.

Next week?

 

 

Bitcoin: Behind Enemy Lines

Is it possible…to invest in a cryptocurrency that is acceptable to governments, banks, investment houses and privacy seeking individuals? Not necessarily for the “purity” of the coin, but its potential to grow and thereby earn a profit for the average investor?

What I mean by “purity” is the desire by many for a cryptocurrency to be decentralized, subvert all government controls, be public (or private), and have nothing to do with banking. The farther the crypto is from what is seen by many as corporate corruption, the better.

But can we meet them halfway — and profit? Isn’t that the game plan? Or is this a “take-over-the-world plot?”

Let’s face it, decentralization and the acceptance of that philosophy are two different worlds. We should live in the real one, not the fantasy digital matrix.

So, what is the reality? Is it: “join them, then beat them?”

Let’s judge by the current lay of the land. There are enemies at the gates. One cannot ignore this fact.

No doubt many have read and continue to read about cryptocurrencies. Bitcoin, Litecoin, Ethereum and clan. Good news and bad. Bubbles and troubles.

Here’s the recent news…

There are reports that China will essentially make all cryptocurrencies illegal by October of 2017. Large Cryptocurrency exchanges are reportedly reaching out to non-Chinese based businesses to circumvent these new capital controls. There is uncertainty in the crypto-markets as to how bitcoin will ride this out.

India may adopt a national cryptocurrency called ‘Lakshmi.’ The implication here is that the government there does not trust bitcoin. The tax authorities are concerned about money laundering, according to reports. This should also be a warning to Bytecoin users in India.

If you can’t beat them, copy the tech and take it over?

The European Commission is concerned about cybercrimes and cryptocurrencies. Regulation is sought. This implies, not a rejection of such currencies, but their tacit adoption or at least it’s a delaying tactic.

Russia – Leningrad Region – cryptocurrency ‘miners’ are being invited to the Leningrad region to create large industrial scale facilities. Cheap power is a selling point. The effort seems to have long legs, reaching to Moscow. Do you think they want a piece of the action?

On the downside, Bloomberg reports that Bitcoin might split again because the developers are in disagreement. Added risk for investors. More uncertainty.

John MacAfee announced that Pandora’s box has been opened. Government control over money is eroding. The reaction has been one of regulation in the US and in China, reportedly, Cryptocurrency executives have not been allowed to leave the country.

Ray Dalio, Hedge Fund Manager, has voiced his opinion: Bitcoin is a bubble.

Rainer Michael Preiss (Wealth Advisor) indicated that banks are likely afraid of bitcoin.

Is there a double-standard, however? As this article reports, the recent outspoken critics of bitcoin may in fact work for companies that actually invest in it.

Okay. So, what does all this mean?

Certainly, one cannot predict the future; however, behind the battle lines one can make some critical observations and ask the hard questions.

First, we must ask ourselves why are the most powerful financial houses on earth just now beginning to draw a line in the proverbial sand? Is it the pressure from the banking industry in general, as they watch the outflow of monies into crypto? Fear of losing profits?

Second, is it the threat to the social order via the potential bankruptcy of governments, by way of a dying banking empire? In other words, why do we need a banking empire at all if governments could essentially finance the economies of the world with a blockchain, directly? Surely, if this occurred, the governments would appoint large dominant information tech industries to head the effort. Can you think of a few?

Third, efforts are being made by the old guard (banks and investment houses) to both invest in cryptocurrencies and educate themselves in their use. These old guard types do not apparently like the fact that bitcoin is so public and many privacy-seeking individuals feel the same way.

Profit from their Greed?

Based upon these observations, we may be able to judge where the old guard might go. Where they might pour billions of dollars, making the rise of bitcoin appear as a blip on the screen of crypto.

If we could figure that out, determine where the vast sums of money sitting in retirement accounts and hedge funds might flow, could we then profit from them?

Or are we off the mark again? Will the banking industry utilize inhouse blockchains or will they contract out? My bet? They will contract out.

For some of us it will be difficult to let go of bitcoin. It has a cult-like following. Many will retain a few BTC’s even after a crash, on the outside chance of a resurgence. There is always a chance it can be fixed. After all, it has staying power.

So, what do privacy-seeking individuals and banks require when using money? Let’s just suppose for a moment, that the money is a cryptocurrency?

Well, individuals don’t want their account balances made public. They don’t necessarily want you to know where they spend and how much. So, let’s make privacy optional.

Banks are the same way. They wish to keep your balances between you and them – and regulatory agencies.

What’s the problem? Few if any cryptocurrencies are geared this way. They are most often, completely open to public inspection. Anyone, including criminals, could potentially find your money.

How about customer service? Name one cryptocurrency that you can call 24/7 and discuss a funds transfer or a lost deposit. If you have named one, congratulations.

Now, can you name a private/public blockchain with world class developers, a business plan, open source software, that is liked by the old guard and crypto-fans alike? An actual regulated and above-board company?

If you said Ripple, that’s not on the mark.

I want to profit from a crypto-coin that has few coins, relatively speaking, when compared to bitcoin, and good volume. Over 10 million dollars a day.

I would like a cryptocurrency that the old guard – remember them – is curious about.

I don’t want an ICO coin and I am not thrilled about pre-mines, but a shared tax to help support the coin would not put me off.

The newest and best tech is a must. A step ahead of bitcoin with the ability to add fast updates, if needed.

A staff of developers who are motivated by rewards, i.e., money, to continue to support the coin for as long as it remains successful.

Can you name this coin?

I think I might have a clue.

And it’s not Monero, Aeon or Bytecoin either.

Not NavCoin or Dash.

But it is listed in the top twenty here.

No, not NEM or Iota.


Please leave any comments below.

Note: this should not be considered investment advise.


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Bitcoin Bears Spotted


As if you didn’t already know that the bears were eating bitcoin’s lunch, right?

But is this a deeper downtrend? Is bitcoin a bubble or not? How long will it last? And finally, will bitcoin crash?

Can we trust the big banks and Jamie Dimon to give us the straight dope? That bitcoin is a fraud? No, we can’t. Why? Because so is the fiat dollar and every bank that uses them — all “legal” frauds.

There is no real money to be had, save gold or silver (maybe copper). On the other hand, at least some of the coinage used by nations remains real and retains actual value. I mean, at least the nickels and quarters in the US. The pennies are now copper coated zinc. But the paper fiats? The electronic representations thereof, sitting in our digital bank accounts?

But just maybe we can trust one voice out there. A lone voice of reason in an otherwise crazy crypto-world. Someone beyond the control of anyone.

Why am I telling you this?

Maybe I can save you some money and if so, just maybe you’ll read more of my blog. And then the little money fairies will come and dust me with ad sharing revenue and I can quit my day job.

Fat chance.

In the world of cryptocurrency one character seems to stand out: Smooth. If you don’t know about him, you probably should.

I scan his comments a lot. Get a feel of the crypto-verse, if you will. The only thing is, he comments on several threads and you need to pick them out. Little gems in the digital ether spread out like crumbs.

I have blogged about Smooth before and won’t bore you with details of his/her/their exploits. Instead, I’m here to display a bit if news. What Smooth says, since he often responds to questions on Reddit and bitcointalk.org.

I’m not after the technical stuff, but the layman stuff. Stuff better than Jamie Dimon, since Smooth lives in coding world. Dimon lives in the government fiat world.

Will the crypto-market nosedive soon? And for how long? That kind of stuff.

As many of us know, Smooth is a developer at Monero and works on Aeon. He’s the lead dev at Aeon, not to be confused with Aeternity, a newcomer. Here’s a bit about Aeon, if you want a rundown.

Still, this is all conjecture. Smooth’s persona could be a well-constructed piece of disinformation. Not that his comments are misleading, but his identity is well camouflaged, as it should be in today’s monetary culture.

For the sake of argument, I’ll say that Smooth is a guy, middle aged, who works near a Silicon Valley-like hub and codes. He could be American or maybe even a Romanian immigrant. He may have a French sidekick and several Monero devs to keep him in line.

More conjecture. Smooth is none other than fluffypony’s alter ego. Fluffy being the face of Monero, Riccardo Spagni.

In short, we don’t know Smooth. I’m sure someone does, but the anonymous handle and picture of The Big Lebowski may not really give us the entire story.

Nonetheless, Smooth does leave a lot of commentary, which I hope he will continue to do, even at the risk of being discovered by the governments with their ability to ferret out writing patterns with super, but not-so-secret software. A forensic examination of style and so on, used to compare against known samples.

Smooth must know about this. Maybe he’s not as paranoid as he should be.

Aeon could be Monero’s test bed, as well. And a backup plan if Monero should crash. Hence the recent remarks by Smooth wanting to clarify that Aeon is not a fork of Monero?

At any rate, here are some recent ‘out of context’ tidbits from Smooth. They can serve as very educational – enlightening. Maybe they are also good to use as sort of a touchstone.


A refresher on Bytecoin. Here’s what Smooth says…

His responses on Bitcointalk.org:

Regarding Bytecoin and the ongoing shady dealings therein:

Their intentions were to launch the coin as a premine scam and take a lot of money out of the coin and put it into their own pockets. That of necessity requires inducing other people to put a lot of money into the coin. Which they are still trying to do at some level with the continued (if laughable) shenanigans with “Jenny” and other shills.

This was for those of you who still think Bytecoin has a chance.


Now onto the bear problem. More Smooth goodies.

Monero Speculation:

To clarify I’m not pointing to a bearish sentiment (though one could point not only to the China news but to the increased regulatory pressure from the SEC in the US, Canada, Singapore, and others as potentially bearish) as much as to increased downside risk and decreased short term upside.

Personally, I am acting on this belief by reducing my risk profile in crypto positions to those I’m more comfortable holding through a possible correction or even bear market, but that doesn’t mean selling all or going short.

Monero…I haven’t yet sold any at all (in a long time), but I’m considering lightening up on that too here. >100 USD/XMR and >1 billion USD cap is great, but again, short- to mid-term, relatively reduced upside and increased risk.

And a follow up…

…I see a good possibility this current bull run in crypto may be close to running out of steem [sic]. That doesn’t mean crypto doesn’t have a bigger future but it requires both internal and external changes, which may come more slowly…

Monero Speculation (and crypto-speculation in general).

Have we reached a sort of crypto-market saturation? Are the bears about to come out?

…when considering exponential growth of viral ideas. Compare…with 2014 when no one gave a…about crypto and you would literally have to poll hundreds or thousands of Average Joes…to find someone interested in it much less owning it.

This does not mean there is literally no one left who could buy who hasn’t bought yet. Most likely, by the time we realize that has happened it will be too late and the price will already be crashing, unless you are able to call the exact top (unlikely). It means we are getting close. The balance of risks has become more symmetric. The remaining upside is quite comparable to the plausible downside.

Note, I’m talking about short to mid-term upside without [a] major change to conditions…not  about [a] plausible…scenario where crypto replaces gold or the dollar as a global reserve currency…I’m making a short- to mid-term trading observation based on current market psychology and demographics. If you think that outcome is likely (enough) and are comfortable with large drawdowns while waiting for it then by all means buy/hold/increase your long-term holdings.

And…

I had that happen…right around the time of the market top in 2013.

It is a bearish indicator. It means that the wave of FOMO [Fear of Missing Out] has reached the masses. The only difference at that point is how many decide to buy and how much, but the important fact is that there are really no more big [sic] wave of people to reach (at least not ones with money). When Mayweather and Paris Hilton are promoting ICOs, when it is being covered on CNBC, Bloomberg, etc. every day, who is left? Price gains are certainly still possible, but the risks have become a lot more symmetric.

There is one more wave to reach and that is conservative institutional money that will allocate to crypto as an asset class given ETFs (or similar vehicles) but not before. That’s potentially a big wave ($1 T or more). It may or may not happen this cycle.

What Smooth meant by “this cycle” is a bit ambiguous. What’s more, the ETF issue may never work at all.


The point of all of this? Pull in your crypto-horns or wait this out.

For those of you wondering about Steem.

Regarding Steem, Smooth indicated:

You can look at economic reality here…the mining was not competitive. It was at near-zero cost, based on asymmetric and privileged information, and therefore very much unlike competitive mining that takes place over a significant period when there is ample opportunity for information to disseminate (and the developers are not admittedly and deliberately exploiting their exclusive access to that information to gain a very large non-competitive advantage).

So the outcome is effectively (about) the same as a premine, regardless of how they got there. (And conversely such an outcome would most assuredly not be achieved with competitive mining over an extended period as with Bitcoin or Litecoin.) Achieving the equivalent outcome of token distribution and investor funding of developer efforts via a different mechanism is effectively synonymous with looking past form to function (i.e. “economic reality”) to me, but I’m neither a prosecutor, nor a judge, nor a jury. There is a small caveat here but I don’t think it ultimately changes the conclusion so I will omit for brevity (and economy of my writing effort).

Lately, scam accusations have plagued Steem.io.


And again in the Monero Speculation thread, but more about bitcoin, Smooth advises:

BTC is being priced more as a risky speculative asset at this point than as a safe haven.

From Reddit:

Regarding Bitcoin (Redditor: smooth_xmr):

Bitcoin can’t be described as secure under the model in the white paper.


Regarding the forking of Cryptocurrencies.

A recent goodie:

Literally anyone can hard fork any (open source) cryptocurrency. It can’t be prevented.

The only thing that matters is whether a community (of any significance) supports the fork, and likewise whether a community (of any significance) continues to support that original. End of story.


Based on Smooth’s comments over the past several weeks and the actual cryptocurrency bear market occurring, we might want to heed his advice. Set aside some of your profits if and until the dust settles.

Smooth does not exactly specify how to do this, but Tether might be an option for some.

In any case, as we are often reminded by Smooth, critical thinking is a requirement in the crypto-world.