Tag Archives: Nicolas van Saberhagen

Electroneum (ETN) is Uber-esque?


Dear Cryptocurrency Watchers and Dreamers:

The Crypto-Dream.

“So, do you want some Electroneum, dude? Just a taste? Yeah?

“Step into my dark alley.

“A little closer…”

Isn’t that what it’s all about anyway?  If you’re going to create a cryptocurrency, would you not make that cryptocurrency interesting?

And thinking this way, allowing yourself that luxury, how many cryptocurrencies out there, are interesting? Have any pizzazz? Ones that don’t make you want to throw-up after you buy them?

Take bitcoin for example.  We know it started in 2009 or thereabouts. Satoshi Nakamoto and all that. Please.

We know that hundreds of other cryptocurrencies are under development, but none have ever been as popular as bitcoin.

Even Nicolas van Saberhagen got in the act. And CryptoNote was born. And it was about time.

We also know that the Chinese really like bitcoin? Bull. We know that the Chinese (people) aren’t stupid. Why would an entire nation of near-slaves like any type of cryptocurrency that is traceable? Think again, Shirley. The PBoC (.gov) needs compliant subjects.

And we know that there are hundreds of other cryptocurrencies out there with varying degrees of excitement…and sheer boredom. Dull, as in sleepy.

So, where is the real McCoy? The real back-burner stuff, that we can move to the front burner – at least for a while?

Explosive adoption. A tidal wave of fun. Electroneum?

Bitcoin fights for superiority.  It struggles against its competitors. Bitcoin Cash, Bitcoin Gold, and many more. Ethereum, Ethereum Classic, Dash, Ripple and so on.

Crypto-creators are getting rich, but the investors are bilked – or is that milked? Why even try?

And the circus continues, right?  New processes, new promises, new wallets and basically the same old thing.

Download this PC app. Maybe we’ll have a cell phone miner – someday. For now, just wait. And wait some more. This takes time. More BS. More time. Meanwhile, we’re aging…

And zero “mass adoption.”

Wouldn’t that be nice? Mass adoption or “use,” in short order? A Pokémon GO routine. Uber-like.

Why?

Time.

Cryptocurrency can be very temporary.  Like the Hula-hoop or Fidget-Spinners.

And we know that hype can make people notice.  Or is it the other way around, if you build it, they will come. How about somewhere in between? How about if we sizzle it?

Is that the promise of Electroneum?  Having the same capabilities of Bytecoin, Monero and the CryptoNote protocol – but having some power behind it. Some excitement, but not hype. Some chutzpa? But not junk-coin.

And some live person to call and say, “Dude, like your coin but, well, I screwed up and forgot one freaking letter on the send address and now I have 1000 ETN’s in freaking stuck-like-pud-land. Can you help?”

“Electroneum here – we’ll get right on it, sir!”

Can’t do that with any other CryptoNote. Will we be able to with our ETN’s?

You’ve undoubtedly come across allegations from the Monero folks indicating that Electroneum is essentially a copy of Monero.  But was not Monero taken from BitMonero, by the alleged community?  Was not Monero taken from Bytecoin and the CryptoNote protocol, even if it has changed?

Sure.

Cryptocurrency is the land of clones and forks. In fact, the folks that brought us CryptoNote encouraged anyone to use their software protocol.

And now we have a Electroneum.

So, let’s get off our high horses, shall we?  Let the best man or woman, win.

I am sick of the purification schemes that never come to fruition. CryptoNote coins that never rise to the “user-friendly” environs, because, you see, the users are losers. The developers, lost in their own self-serving nodes, regale us with their genius, then crap on us with their half-baked excuses.

Maybe it’s time to let Electroneum give it a go.

If expert businessmen and marketers can combine their resources and use a product better than those who developed the original product, why shouldn’t they?

It sort of reminds you of ranching.  Once you voluntarily sell your cattle, the next rancher can do what?  He or she can compete with your business and sell more cows. You can go out of business for being less efficient or get to work.

Sure, people will like the privacy of Monero.  They like security, absolutely.  But if all you do is sell the steak, refuse to sell any sizzle, your business model may not succeed.

That’s what I think Electroneum is trying to do.  Trying to sell the sizzle and the steak, using the CryptoNote protocol, but centralizing part of the works. This certainly decreases the privacy part, but will it matter?  Will anybody care, if it serves to unseat the Fiat Gods of the Fed? Besides, we’re not talking about a coin that is being built in a third world communist regime.

Does anyone really think that cryptocurrencies are long term investment vehicles, though?  That cryptocurrencies are not temporary? Of course, they are. Things will change.

Come on, search your soul.  How many times have you deleted the bitcoin wallet from your computer?  How many other cryptocurrency wallets have you downloaded and deleted?

And I am not saying that I would rather have .gov fiat money. I think that .gov fiat sucks.  All I’m saying is we need to make some hay, while the crypto-sun is still shining.

Using that as a backdrop, anyone who invests in cryptocurrencies, might want one with immediate and powerful messages and a potential to rally — and rapidly expand.

Why? Is it not plain? Strike while the iron is molten, not after the .govs ramrod the innovators.

Less chance of losing money, right? More chance of making money, don’t you think? No more delay.

So, the key, is to recognize the next major expanding cryptocurrency.  That’s a tough job.

Looking back almost anyone can see how the new cryptocurrencies arrive on the scene. How they create some hype, suck in millions of dollars, plateau and then fade. More advertising is pushed out, more videos, professors, news guys, hot chicks — all talking-up the protocol while more investment money flows in; and then what happens?

“Adios, nitwits.”

Oftentimes you have a stationary thing.  A crypto-monster treading water until it disappears into the depths, with your cash. The crew and talk-bots shift to the next coin. Failures dot the crypto-landscape, but these coin-pushers thrive here. It’s too easy.

“Wanna taste for free,” they ask? “An air-drop maybe? This is some 3.0 stuff!”

So, you buy and cry.

The pushers call them tears of joy.

Zombie-coins. Churning coins. Incessant trading. Exchanges, feeding off the fees. Money tubes, full of lost labor. Math freaks gorging on code.

And it all sucks. And I’m tired of it, aren’t you? Way past day-trader mode and gambling. Now I want a contender, ready to show us the marketing stuff. Show the blockchain-lovers, how the hell it’s done.

Could Electroneum do that?

A few months later, after the next-newest cryptocurrency version has failed, no doubt the same guys will be back with the next great cryptocurrency. They’re trying again. ICO after ICO and dump after dump. They need millions more of your hard-earned money.  There is another rush to purchase, maddening pumps, spectacular dumps, and then the cryptocurrency is shoveled into that pit where our money burns. But they come again. Version 12. A new team. New protocols. New wallet.

Oh, just stuff it.

Cryptocurrencies are labeled as Ponzi schemes and pyramid schemes, somewhat like the current .gov fiat money schemes we use today.  We are told that cryptocurrency exchanges are unregulated, and they can essentially cheat their own system.  We are told that private money can lead to more crime but the cash in our pockets, created by our governments, is somehow immune?

With all this bad news, maybe a Electroneum is the good news.

At any rate, cryptocurrency is a choice.  It’s a free choice. Government money is required money.  And gold and silver are not legal tender, for the most part.

If you can’t crap, CryptoNote progeny (you know who you are) then get off the pot.

Let’s watch Electroneum.

Sincerely,

Jack Shorebird


 

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Do You Own “S2S Compromised Cryptocurrencies?”


It’s about peers versus subjects, is it not?

Are you a P2P or and S2S Person? That’s the gist of it, right?

P2P is what? Peer to peer, right? Person to person.

S2S is what? Subject to subject. Slave to slave, in some countries.

Pause. Think. Slave to slave = S2S?

So much is said in that P2P acronym. So much is lost in S2S. It matters.

If you are P2P, you are probably safe. But you can be safer. You can do one better.

As an S2S believer, you are in trouble. But don’t take my word for it. Ask Mr. History.

When observing the changing cryptocurrency landscape, we note capitulation and appeasement. Those who bring change; and those who want to stick to the old way of doing business. If not the old way, then bending the new way to the will of the old.

But P2P is not new. It has just been adapted to the blockchain.

S2S is the old way.

Why do we own certain cryptocurrencies, but not others? Why is the P2P idea the best thing to have hit cryptocurrency, let alone the human condition, in thousands of years?

But…there is P2P and there is private P2P, correct?

Many of the newest breeds of crypto-entrepreneurs have forgotten the words of Satoshi Nakamoto and have instead, chosen to use the blockchain technology for other reasons. And there is nothing wrong with that, save the lack of vision of such people. The automatic and almost tribal reductionism is inherent in the herd mentality.

In other words, the desire of many to belong to the herd at any cost. Spare no expense, they say. Trade your privacy and your freedom for a false sense of security.

Don’t rock the boat. Don’t go against the flow. You don’t really need or want P2P. You need S2S. We hear this so often.

So, let’s recall those words, just a few of them, purposely embedded within the Bitcoin Blockchain. “Satoshi’s Warning,” I will call it.

These words resonate today, and I submit that they will resound into the future — if we are still here. And these words will be taken more seriously in ten or twenty years, if world economies do finally collapse, and if cryptocurrencies save the day after that foreseen collapse.

The warning:

‘The Times 3 January 2009 Chancellor on brink of second bailout for banks’.

This statement gives one the clear sense that Satoshi had a problem with governments and bank bailouts. He did not agree with the current monetary system in general.

Why?

We can speculate about his motives, read his various quotes, but can we agree that he/she/they invented a well-functioning, but not private, peer-to-peer e-cash system? It seems to me that Satoshi, and I have stated this before, provided the outline – the foundation – upon which others could build.

And remember that: P2P. Let that echo over and over until it seems to lose meaning. Until the echo of it comes back after a time and reminds us what it really is. What its value really is.

P2P is that rock in the river, standing against the tide of financial tyranny. If that rock is hardened (privatized), all the better, but bitcoin’s P2P rock sits high in the rapids. It is “exposed” P2P and it is sandstone. Sandstone will not last. Even so, some want to convert bitcoin to S2S, now. They want to blast that sandstone apart.

If “exposed” P2P is the core value of the bitcoin service, how can it be improved? Satoshi warned that this P2P system was only temporary. That it probably would not last. Was he correct?

Satoshi showed the way.

Then Nicolas van Saberhagen came along and privatized the blockchain. It was the next step in the evolution of blockchains. Many other P2P models are “exposed” at some level.

Saberhagen (he/she/they) created CryptoNote and after a rocky start a new crypto pulled away from the pack: Monero (XMR).

Monero has one well known face: fluffypony (Riccardo Spagni). He came forward and I submit, took his freedom in his hands when he did so.

For all the rancor surrounding Monero and all the concerns I still have about its developers remaining behind the curtain of anonymity, I respect Mr. Spagni. And that is the point: trust. Not to mention that Monero was the first successful private crypto on earth. (Okay – that’s an assertion. Prove me wrong.)

There is another crypto that deserves mention here and I have cited it before. Aeon. “Smooth” is the developer of Aeon and works on Monero. Smooth is anonymous. This might be important in the future since Monero is slowly gaining acceptance on an international scale. Aeon would seem to be the logical partner in that effort.

And there are other private crypto’s out there, but I am only mentioning Monero and Aeon in this post as examples. Many of the other privacy based coins do not have the longevity, have changed hands, or have known developers – which is a risk.

There are arguments against the PoW (proof-of-work) based blockchains, such as Monero and Aeon, as well. Even bitcoin uses PoW, but Ethereum is apparently considering a PoS (proof-of-stake) blockchain addition or change-over. PoS is more energy efficient, certainly.

Obviously, these “proofs” will evolve over time, but getting hung-up in the debate may not be the best course of action.

In fact, allowing the salesmen, flush with crypto-cash, financed to the gills with venture capital, to present vivid images of Crypto 3.0, is a trip to S2S.

How so? These salesmen, often experts in the field of blockchain, are not experts in the field of privacy.

The war now is to destroy the very essence of bitcoin and any cryptocurrency attempting to remain private. It is an effort to undermine the best P2P out there. Usually, by means of overregulation and/or making such transactions illegal.

KYC. Know your customer. Papers please, comrade. You might be a communist-terrorist-tax-evading-immigrant. You might be a criminal. Just in case, we need to know you. Who is this we?

On the other hand, you are probably just an innocent citizensubject wanting to keep as much of your money as possible. And it is your currency, right? No, it is the State’s Currency. “But I have some XMR’s,” you answer, “not State Currency.” All the more reason to know you, comrade.

Privacy? You have no right to that; the herd tells you. What are you trying to hide? Nothing? Prove it. Show us all your currency and let us decide.

Welcome to America, land of the citizen-subjects. Hey, at least we can emigrate – so long as we have paid our taxes first. Even if you hand in your citizenship-subject papers, you must still pay your exit bills, before you may emigrate, right? And they dare call this freedom? (Hey, I’m American, but America is not a place – it was an idea – in the past.)

Is it any better in the UK, Australia, Canada, or Switzerland?

Because of government pressure, the cryptocurrency innovators are beginning to give in. Or maybe they never had the guts in the first place. They are creating what amounts to “S2S” or Subject-to-subject transactions. Weak sister versions of the almost true form. Compromised crypto’s, the lot of them.

But I’m sure they work just fine.

These new S2S innovators are the compromisers. They help support the current fiat monetary systems. The highly centralized, highly controlled, inflation pushing bureaucracies.

I labeled Cardano (ADA) as S2S compromisers. But they are not alone. Ripple (XRP) is S2S compromised as well. Even Ethereum (ETH)  advises that they will comply with governmental information requests. I’m certain there are many more S2S compromisers.

Few have the tenacity to protect privacy. Legitimate privacy. Many of the cryptocurrency exchanges bow to the might of “.gov” as well.

These S2S capitulators have good people working for them, however. They have children and dreams and I do not fault them for coloring within the lines. If they are to remain at liberty, to exercise their delimited freedoms, they must bow down. No blame can be placed upon subjects working within their enclosures.

It is odd that a fluffypony will not bow, however. It requires vision and nerve to stand, virtually alone. To back a crypto that will not comply.

The same can be said of Smooth and all the developers of both coins (Monero and Aeon). To believe that the “.govs” of the world have not discovered some of their identities, is foolish. And they know it.

And don’t give me that bull about sacrifice. These men and women working behind the curtain to privatize crypto are not doing so for free. Their trade, their gain, is profit. Their potential loss is their freedom. Is this a sacrifice or a trade? Are they, in a sense…

…mutually pledging to each other, their lives, their fortunes and their sacred honor?

Private P2P is a down payment on future value few can imagine. To buy the freedoms of their children. To refuse the current call for S2S, and see what happens.

I hope these private P2P men and women, keep at it.

If you need to convince yourself that privacy is important, buy this: “For the New Intellectual”


 

Note: As usual, the above is only an opinion. I welcome any responses. In the meantime, do not base investment decisions upon any of it. Call your banker, broker, insurance salesman and/or financial advisor, if you must.

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.