I didn't know that this thread was still active, I had lost hope. Thanks manav and ranvijay for bringing in some rationality.
Anyways, since this thread is active, I would just share a few updates:

General Updates

• Trestor is now a Government of India Recognized Startup (DIPP-1098): http://startupindia.gov.in/uploads/pdf/Fourth_Meeting_of_IMB.pdf
• Trestor Recently Presented at NASSCOM's Event https://twitter.com/trestor/status/762912611923005441

Tech/Product Updates

• Trestor's Brand new app is live - https://play.google.com/store/apps/details?id=com.trestor.android, https://trestor.org/app
• Updated Whitepaper: https://trestor.org/files/trestor-whitepaper-voting.pdf
• Updated Website (Brand New Design): https://trestor.org
• Updated Careers Page: https://trestor.org/work-with-us
• Press and Media Coverage: https://trestor.org/media
• Trestor is now also open to Blockchain Consultancy: https://trestor.org/blockchain-consultancy-and-services

Market Related Updates

• There are many businesses in Chandigarh accepting Trest as a payment method. You can see them on the app.
• Additionally, These places give a flat 20% discounts when you pay with Trestor App. You can experience paying with a cryptocurrency there  .
• These include a number of popular restaurants, cafes, salons and other stores.
• Trestor is looking to Raise Funds to strengthen the team and expand further.
• Video on Trestor's Experiment in sector 43: https://www.facebook.com/trestor.org/videos/663739137126235/

If anyone is looking forward to visit Trestor's office

• Trestor Office Location on Google Maps: https://www.google.com/maps/place/Trestor/@30.723191,76.847677,15z/
• Trestor Office Photograph: http://imgur.com/a/Pth1t

And yes, because we humans understand things by connecting them to something else, the the valuation of 1 trest = 1 rupee could be understood as pre-sale.

Given the data in this thread, it proves that Trestor is a legitimate startup. Also, the allegations put on Trestor are baseless.

Manav1112, I'll be really happy to see you here and answer your questions. As per your conclusion, I request you to fix the title of the Thread as this allegedly harms the company. Hope you understand.

I'm here to answer genuine questions once the title is fixed.

Thanks,
Saurabh, Design and Product Lead - Trestor
in.linkedin.com/in/saurabhsoniss

Thanks manav1112. :)

Good question. Quoting from Wikipedia and Investopedia:

Calculating Market Cap - Market capitalization is just a fancy name for a straightforward concept: it is the market value of a company's outstanding shares. This figure is found by taking the stock price and multiplying it by the total number of shares. (Simple math)

As outstanding stock is bought and sold in public markets, capitalization could be used as a indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation.

So, market cap has less to do with how much "worth" one thing is respect to another. I hope this little concept of economics helps.

Also, if you could answer me this: What is bitcoin really doing that it's market cap is 7Bn? :)
How do you justify "worth" of a cryptocurrency - Market Price, Number of people writing blogs about it, number of transactions, number of accounts or real world usage? There are no such parameters, worth is completely subjective.
I hope I helped you realize that "worth" and "market cap" are different things.

@manav1112: Can you please change title of this thread to something neutral like "Exploring Trestor", rather than a title which defames our hard work? Thanks :)
I have been working with Trestor for past 2.5 years and giving all that I have to it. You would understand how bad it feels when someone outrightly accuses without making sense on something that you have build with so much effort.

Edit: Again, we are open, I invite you guys to come and meet us to understand and clarify things. :)

@manav1112
Sure you can meet us on any weekday.
Also, it will be preferable if you drop me a mail so that we can coordinate and schedule a time to meet.
On the email, can please you share your introduction as well?

Why did we stop responding on other thread?
We could not find time to entertain stupidity, we were busy doing awesome things to make the world a better place.
Like this one: https://www.youtube.com/watch?v=e1FNMhhDm2g
And this: http://www.thebetterindia.com/51580/iit-students-water-for-plastic-waste/

@cryptoheadd
1. According to your logic, if there is a broken page on a website, it's a scam.
2. As per the current rates, the market rate of Trests is Around 1.5Bn USD. If you do not understand markets, exchange rates and how they work; I can take a small session to help you understand. Just that, we are not yet listed on coinmarketcap.
3. You are as well invited to meet us or have a call, provided you are willing to understand instead of jumping directly to conclusions.


I at least expect people on this forum to be objective and rational. Come on guys, we represent the Indian Crypto community.

Hahaha... I smell a lot of Bitcoin Fans! 

Checkout trestor.org/source

I'm so sad to see that we live in a country where a bunch of people behind some fake identities are trying to stop others who are doing good and different. I fail to understand how such judgemental pseudo-intellectuals can try to defame the hard work of a team without even a single sensible argument or evidence. Did you ever ponder that we live in a country where when someone copies the idea of a western world startup is called "innovative" and "game-changer".


This kind human behaviour is often seen (specifically in this forum) and can be put under multiple categories in psychology and human-biases, like:
> Heard Mentality
> Blind Fan Following
> Superiority-Complex
> Pseudointellectual Behaviour


So coming back to Trestor; we have been working on some amazing ideas, an altogether different perspective of Cryptocurrency technology. I will post complete details about it on a new thread. If you really care about the community, technology and cryptocurrencies, then you can talk to us to understand.  I'm making all the details available for people to reach us.

I'm Saurabh Soni, Graduated from BITS Pilani and heading Product at Trestor. (Linkedin: https://www.linkedin.com/in/saurabhsoniss)
I can be reached at saurabhtrestororg. I can share my contact number individually, if needed. If any wise and sensible people are interested in meeting us physically to understand the awesomeness that we are building, we are located at Plot J-7, FCS Building, IT Park, Chandigarh (UT).

Oh yes, we are hiring too. Trestor.com/careers, Morons need not apply

You can get Trests at a Trestor Retail Partners location (trestor.org/locate-retail-partners) or online (trestor.org/get-trests).

So far, I guess, by reading the above answers one can conclude that Trestor is a cryptocurrency and shares the same legal status as Bitcoin across the world.

We would encourage everyone to bring out anything specific that has been left unanswered or unclear.

We do not want anyone in the community to have any sort of uncleared doubts.

I will further add to the answers above:


Not true. Anyone can run a validator. This is somewhat similar to proof of stake systems. One needs to have a defined minimum amount of Trests in their account to participate in voting. To bootstrap the network initially, the amount of Trests required to run a validator node is high so that attacker has no incentive to add node(s) and gain 80% of consensus to corrupt the network. This is why initially Trestor will give Trests to selected universities (read: trusted entities) so that they support network by running a validator.

As more nodes are added to the network, by consensus of existing validators, this minimum amount reduces and it will get easier for an individual to participate in voting. But at the same time it becomes harder for attacker to achieve 80% consensus. The idea is to have sufficiently big amount (or money) required for someone to break or corrupt the network; which is same as bitcoin where it is calculated in terms of computing power and which translates to money again.

About Incentive or Profit: Projects like TOR, Torrent network, Wikipedia and many others are successfully running despite of having no incentive for people helping/volunteering for it. Actually the incentive doesn't have to be in terms of money. It is just that people really enjoy to help a good cause.



Again, not True. Simply put, it is NOT Trestor's discretion. Trestor, or anyone else for that sake, can not change history, or the closed ledger (UNLESS they have 80% of network control, in which case they can rewrite all of the network. This number is just 51% in case of Bitcoin). Also, The network stores history and the current state can be verified by history or vice-versa (so if Trestor or anyone changes anything in ledger or history, it will be easily detectable). Important thing to note here is that history does not define current state, which makes it different from bitcoin. Validators vote for the ledger and once there is a consensus, ledger is updated and closed with it's hash (and history is updated). Also as mentioned earlier, a 51% attack on bitcoin can also change history, here one would have to gain 80% which is even more difficult as explained in the answer above.


Umm, again incorrect. Say if there is a exchange (or bitcoin foundation itself) who is always willing to buy/sell any number of bitcoins at USD 300. The value of bitcoin rises to USD 300 and stays there (but yeah, no one would ever do that).
In this case, Trestor Foundation is willing to exchange any number of trests for 0.01 USD, so it may seem like Trests have a fixed value, which is not the case. No one is bound to exchange Trests at this rate, they can exchange it at a lower or higher rate (subjective value). This also answers the legality of Trestor network in India or anywhere and how Trest is a cryptocurrency.


Yes that is true. Trestor Foundation is committed to nourish and grow Trestor Network. Assigning 100% of trests at genesis to Trestor foundation helps the network in multiple ways.

In bitcoin network, one can get bitcoins by mining (thus helping the network). In trestor network, one can get Trests by volunteering, contributing to code, helping spread the word, running a validator (and thus helping the network).

So instead of competing (mining) with each other and wasting resources, people can help the cryptocurrency network in many other ways. It is not limited to buying expensive hardwares to mine.

I am unable to understand what sort of legal protection is required?
Getting Trests from Trestor foundation is comparable to mining. Is there any sort of legal protection required when one mines bitcoins? No, because the bitcoins themselves can be verified and same is with Trests because that is how cryptocurrencies are designed.


We will be happy to answer any subsequent questions. Also, if anything requires more clarification, feel free to ask.

Yes, exactly that is why this thread is misleading.

The title of this thread says what exactly Trestor is not. It tries to defame the foundation. Trestor Foundation and team members have been able to answer all the questions put up by community members. Now everyone knows that this project is not a scam but a project which is in process of doing a number of things and in that process sometimes things get miscommunicated too.

Also, it's not required to remove the thread, but it the title should be not be misleading, and should be summarizing the discussion. It can be : "Questions for Trestor" or something on the lines, but not accusive.

I hope you understand. I respect you and as you are the moderator, I seek help from you on this.

According to wikipedia, Market Cap is equal to the share price times the number of shares outstanding. In this case, a share is comparable to a Trest. Since, 1 Trest = 0.01 USD, and a total of 100 Bn trests are there; the market Cap is $1 B.

The next question, why does the price does not fluctuate or stays fixed?
As of right now, market price for trests does not fluctuate much because Trestor Foundation is actively engaged in market-making activities around that price. Over time, as more and more trests are out in market, our ability to make the market would go down.

Next question, if Market cap is 1Bn, then why isn't it listed on Coinmarketcap.com?
Trests are not on Coinmarketcap because Trestor hasn't yet made an effort to get listed on an exchange. However, the Whitepaper, Tech-Draft, APIs and the source code is open, http://trestor.org/source. (Small parts of code are still not added there as they are being worked for some improvements.)

Here, we believe that decentralization is a process, not a final state. Trestor is on track to make Trestor network (T-Net) fully decentralized. As of right now, the entry barrier to run a full Trestor node is high. We are accepting applications from academic institutions interested in running a Trestor full node, and upon successful due diligence process, they will run Trestor full nodes (Validators).

Trestor's control over T-Net will be over in near future. By October 1, 2015, T-Net will be fully decentralized and anyone with minimal resources would be able to run a full node.  At that point, we will be far more decentralized than Bitcoin or any other cryptocurrency.

For Further discussion, please post to main thread: https://bitcointalk.org/index.php?topic=1106047.0

This thread has already been reported for inaccurate and misleading content and the moderator should take action soon.

We have seen other cryptocurrency IPOs where similar things have happened, so this was too obvious to not miss.

To keep the market stable and healthy, Trestor Foundation also participates in it.

Exciting times, here at Trestor!

Here is the team: trestor.org/about



Trestor seems to have actively responding to the questions on various threads.

This, excerpt from wikipedia, will help understand what a "Non-profit organisation" is:

A nonprofit organization (NPO, also known as a non-business entity) is an organization that uses its surplus revenues to further achieve its purpose or mission, rather than distributing its surplus income to the organization's directors (or equivalents) as profit or dividends.

Here: https://en.wikipedia.org/wiki/Nonprofit_organization