Post
Topic
Board Altcoin Discussion
Re: Blowing the lid off the CryptoNote/Bytecoin scam (with the exception of Monero)
by
CoolGecko
on 03/12/2014, 04:50:45 UTC
@Smooth:
I don't hold many Quazarcoins or other coins, so that's not an issue for me. But I am working on improving the user interface in my own limited way. For me the learning experience is more important than actually profiting from the coins.

I commend you for working on something as a learning experience, though of course I can't be sure what you say is true (though in reality it doesn't matter).

None of that means the OP of this thread should be "embarrassed" for the huge amount of work he put into uncovering all this stuff and pulling all the details together. I have a particular appreciation for it because I was active on the Bytecoin thread from the beginning and I saw a lot of the lies. I recognized that it was likely a load of crap but I couldn't really prove it. I had no idea about some of the other stuff, like fake whitepapers and shill coins, but it doesn't surprise me at all given what I saw.



What I do know is that there is much baloney being spread around, so I don't take much of what people say very seriously.

These things I know are real: I know that the Bytecoin developers are the ones who developed Cryptonote coins. I am a software developer myself, and I know that this technology didn't appear overnight; it must have taken them years to develop it.

While they were developing and perfecting it, they mined a lot of coins, most of the Bytecoins that will ever be circulated. They could have just thrown all their old coins out and started with a new blockchain when the coin was released, so they aren't saints. But they are not villains either, they gave the world a new cryptocoin technology, better than bitcoin in several ways.

If the Bytecoin developers were selfish they would have patented the technology, so that no one else could use it, but they didn't do that. Instead, they released it as free-software so that others can use it to create their own coins and build on it.

The original poster seemed to be concerned that the Bytecoin developers aren't well known. Personally, I don't give a rat's ass whether they are known or not. The fact is they did something good.