The CryptoNote/Bytecoin Scam - Reading Assignment

Privacy Coins - Ultimate Course
#21
  1. April 2012.
  2. March 2014.
  3. Reputation of the developers are well known (fluffypony) in the crypto space.
  4. 1.23348604 BTC
1 Like
#22

  1. It was stated to be released in April, 2012. Though not really “discovered” till 2014.

  2. Feb 14 2014

  3. Known developers and following community consensus.

  4. To TX received

2014-09-06 14:08

+0.20000000 BTC

2014-08-16 06:08

+1.00000000 BTC

2 Likes
#23

  1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
    April 2012

  2. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
    13/03/2014

  3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
    The core developers are known individuals.

  4. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
    1.2 BTC

2 Likes
#24
1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?

April, 2012 before the v1 white paper was released.

2. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?

The file properties suggest the v2 whitepaper was actually created in March 2014.

3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?

It sounds like Bitmonero was started by a rouge CryptoNote dev that wanted to distance themselves from the shenanigans of the original group, but was close minded with the community. The community created their own fork called Monero. This was successful as it was an open community with core developers that were well known in the industry.

4. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014?

There were 2 receiving transactions totaling 1.2 BTC:

1 Like
#25

1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
Based on Section 2, Bytecoin was released in April 2012.

2. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
Based on Section 4, CryptoNote v2.0 was released in March 2014.

3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
Bitmonero/Monero was successful when other Bytecoin forks were not because the community took over the project by forking away from thankful_for_today (an alleged CryptoNote dev) who apparently tried forcing his ideas into Bitmonero; ergo, the community forked into Monero.

4. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
The author received 1.2 BTC in 2014.

2 Likes
#26

  1. April, 2012

  2. According to the Adobe signatures, V1 and V2 whitepapers were signed on Dec 15, 2012 and Oct 17, 2013, but the V2 document was actually created March, 2014 and V1 was created Oct 4, 2014.

  3. Monero was taken over by the community because of all the shenanigans of hte earlier coins.

  4. 7 outputs (1.23348604 BTC)

1 Like
#27

  1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
    In April, 2012

  2. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
    In March, 2014.

  3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
    Nobody working behind the Bytecoin forks were known in the cryptocurrency community. Monero had (has) a better development practices and well known developers.

  4. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
    1.2 BTC

1 Like
#28

Supposedly it was released in April 2012

In March 2014

Because the community pushed back on some ideas of the former lead dev and because Monero has well known and respected core developers not just People hiding behind pseudonyms.

1.2 BTC

2 Likes
#29

  1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
    April 2012

  2. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
    On March 2014

  3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
    First the “core devs” are well-known in this space. Also they had a lot of other devs, who were working independent and could also check the code. More devs, more check-ups = more transparency.

  4. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
    1,2 BTC

2 Likes
#30
  1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
    Apr. 2012
  2. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
  • Mar, 2014
  1. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
  • Because there is a core dev team as well a develpoing community behind to check each participants inside.
  1. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
    1.2 BTC
3 Likes
#31
  1. April 2012
  2. 13/3/2014
  3. core devs are reasonably well known, and more in numbers, so they can keep each other in check.
  4. 1.2 BTC
2 Likes
#32

  1. It was allegedly released in April 2012.

  2. March 2014.

  3. Because their core dev team was known to the community.

  4. 2.97694268 BTC

1 Like
#33

  1. April 2012

  2. March, 2014

  3. Monero is streets ahead, partly because of the way they’re developing the currency, but mostly because the “core devs” or whatever they’re called are made up of reasonably well-known people.

4.The post author received: Total Received 1.23348604 BTC

1 Like
#34

Q1: 2012

Q2: March 2014

Q3: Transparency always wins in the end. The XMR developers were well known in the Crypto community

Q4:1.23348604 BTC

1 Like
#35

  1. Tricky question. In the story the developer told that Bytecoin was released in april 2012. But the first piece of Bytecoin code was released on github in November 2013. The whole Bytecoin code was released on March 4th, 2014,

  2. v2 of the whitepaper was created on 13/03/2014

  3. Monero was developed by well known people not only in the crypto community but also in science. Another thing is that the community “forked” Monero because the community wants to implement things democratically and not one dev leader should decides what is to be implemented.

  4. The author received 1.2 BTC in two transactions (the first was about 1 BTC, the second was about 0.2 BTC)

2 Likes
#36

  1. April 2012

  2. Probably March 2014

  3. Not gaining real trust in the wider community, lots of nefarious activity

  4. In all of 2014: 1.2

2 Likes
#37

  1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
    In April, 2012, the principles expressed in the whitepaper, and released Bytecoin
    In December 2012, they released the CryptoNote v1 whitepaper
    In September 2013, they released the CryptoNote v2 whitepaper
    In November 2013, they released the first piece of the Bytecoin code
    On March 4th, 2014, they released the rest of the the Bytecoin code

  2. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
    The v2 whitepaper was created on 13/03/2014

  3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
    The core devs are made up of reasonably well-known people. That there are a bunch of them (6 or 7?) plus a bunch of other people contributing code means that they’re sanity checking each other.

  4. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
    1.2 BTC

2 Likes
#38
  1. In section 2, it states Bytecoin was released in April 2012
  2. In section 4, it states CryptoNote2.0 was released on March 13, 2014
  3. In section 7, they talk about how Monero being a community of well known and transparent developers fork of Bitmonero helped it become successful. There has been so much drama and shady history that the community of users flock to a more transparent and trustworthy team.
  4. 1.2 BTC <-- nice tip!
2 Likes
#39
  1. Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
  • April 2012
  1. Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
  • Match 2014
  1. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
  • People did trust the other Bytecoin forks, since nobody knew who was behind them (and feared scams!). The Monero team, on the other hand, were reasonably well-known in the crypto community.
  1. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
    1.20078494 BTC
1 Like
#40
  1. Bytecoin was released in April 2012
  2. CryptoNote V2 was released in September 2013.
  3. Has strong community and developer was well known.
  4. Received 1.23348604 BTC in 2014
1 Like