The CryptoNote/Bytecoin Scam - Reading Assignment

Privacy Coins - Ultimate Course
#101

The CryptoNote/Bytecoin Scam

  • Based on Section 2, ‘The Alleged CryptoNote/Bytecoin Story’, when was Bytecoin released?
    • April 2012
  • Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
    • 13 March 2014
  • Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
    • Because the Monero community politely told “the dev” to f%ck off and took the project into their own hands before “the dev” could ruin it.
  • 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 1.20078494 BTC
1 Like
#102

[quote=“CryptoLee6, post:9, topic:13038”]

  1. Because the developers are well known in the crypto environment and that there is a strong community behind it.

2.- It wa released in March 2004.

3.- Because developers after the project are well known in the community.

  1. 1.2000000 BTC.
2 Likes
#103

1 April, 2012
2 13/03/2014
3 It seems like a few unknown developers tried do scam the community but Monero was “saved” from the scumbags and the rest of the forks got stuck in the dirt.
4 1,20000000 BTC

This is another “fucker” https://www.youtube.com/watch?v=f2zJ8vaB5jo
He does have a part in why I am here! I read his book about Bitcoin.

2 Likes
#104
  1. April 2012
  2. March 2014
  3. Looks like this was due to the core devs and their reputation.
  4. 1.2 BTC
1 Like
#105
  1. It was released in April 2012.
  2. It was released in March 2014.
  3. Because the developers are well known in the crypto environment and that there is a strong community behind it.
  4. The author received 1.20078494 BTCs in 2014.
1 Like
#106

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

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

  3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
    A) Core Developers were well known in the community.

  4. The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer)
    A) 1.23348602 BTC

1 Like
#107

It was released in April 2012.

It was released in March 2014.

Because the developers are well known and respected in the community.

1.23348604 BTC

1 Like
#108

1.- Supposedly released date: April 2012
2.- The v2 whitepaper was indeed created on 13/03/2014.
3.- 1. Because the developers are, even if anonymously, well known in the crypto environment.
4.- A total amount of 1.2 BTC in 2014.

1 Like
#109

  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. 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. 1.2

1 Like
#110
  1. April 2012
  2. March 2014
  3. the team behind Monero was well known and respected. they checked each other’s work.
  4. 1.233BTC
1 Like
#111
  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?
    the v2 whitepaper was created 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 these other cryptocurrencies is known in the cryptocurrency community, and that alone should be a big fucking red flag. 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. 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
1 Like
#112
  1. April 2012
  2. 13 March 2014
  3. what a mess… mainly because Monero’s core developer team is made up of known devs and there is an actual big contributing developer community to double check their codes. Not to mention that all the other’s look extremely shady after all the bought accounts, faked documents, etc.
  4. 1.2 BTC received in 2014
1 Like
#113

  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?
    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?
    Bytecoin team was unknow to the community and they feared scams, whereas Monero team was well know and transparent.

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

1 Like
#114

  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?
    March 2014

  3. Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
    The devs are well-known in the crypto community.

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

1 Like
#115

  1. Based on the claims of its anonymous developer team, Bytecoin was released in 2012.

  2. According to the author of the article, Bytecoin was actually released in March 2014.

  3. Monero was successful because the devs were more well-kown in the community.

  4. In 2014 the author’s BTC address received Bitcoin 2 times for a total of 1.2 BTC.

1 Like
#116

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?

whitepaper v1: April 2014 whitepaper v2: March 2014

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

Because the core developers are reasonably well-known people in the community as opposed to unknowns.

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

1.23348604 BTC

1 Like
#117

  1. April 2012

  2. March 2014

  3. There were known devs involved in the project that had involvement in legitimate projects

  4. 1.2 in 2014

1 Like
#118

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

Based on Section 4, ‘Indisputable Facts’, when was CryptoNote v2.0 actually released?
In September 2013, they released their CryptoNote v2 whitepaper.

Based on Section 7, “Layer after Layer’, why was Bitmonero/Monero successful when other Bytecoin forks weren’t?
Two things, Nobody working behind these cryptocurrencies is known in the cryptocurrency community and Transparency wins

The post author leaves their Bitcoin address for donations. How much BTC did they receive in 2014? (hint: use a blockchain explorer) $1435.06 or 2.97724268 BTC

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1 Like
#119

Can any explain why my number of views and my BTC paid in 2014 does not match the ans in the posts.

I mean I see three tx of BTC, i understand this is a little lower as fees take some, but the # of views? Some students have noted 4.5mil? All I see is 132403 on Jan102021, what am I missing?

#120

You took the entire balance of the transaction in the calculation, you should only use the UTXOs that were sent to that address (1rysLufu4qdVBRDyrf8ZjXy1nM19smTWd). Its a bit hard to see this in the explorer you used, here is a screen shot from another one :slight_smile:

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