You had me at private. Privacy is something that most people do not realize how important it is. They will only realize once it's too late, and they've given up all their privacy for security.

Building in privacy is an awesome thing and I wish you much success.

i know @thejohalfiles will love this , he has been asking for more anonymous cryptocurrency solutions and you may be on to something!

Now you can use the $50 you've raised here to actually hire someone top brainstorm new ideas or program some proof of concept systems... maybe some bright young teenagers who want to move up in this world can take a look at this and see how just a POST about anonymous blockchain transaction solution can earn you $45 from just one post, and this post could get to $100 or $200 with enough attention....  and that money can go into development

Maybe someone should post this to @utopian-io and request some funding, and maybe put out a bounty, heh I wonder if anyone actually thought you were offering a $10 bounty LOL people should be grateful for any work they can be offered! ;)

Seriously though, arent there plenty of people in developing nations who wouldn't mind being paid $5 or $10 an hour for very professional type work that would normally be $50 to $100 an hour jobs in the developed world? People should be more grateful for any work they can get, and I agree we should offer as much money as we can to talented people but sometimes we cannot just offer high wages, and employees can find a way to make their own wages higher by working harder.... any company i run will always have opportunitiues for people to climb up the ranks and earn as much money as they want! I am against dead end jjobs, and I beliueve STEEM will provide us this opportunity 


I love this idea and I believe @stellabelle will also find it interesting and will be able to show apropriate people like @dan and @ned that here lies a good idea

Also Steempixels was the start of MANy reddit inspiredideas

I cannot wait to see you manifest Steemit Secret Santa @adept

pocketsend:100@adept,

Time to shoot up the prices

So building a private blockchain within the blockchain. Securing all transactions offline. This seems to be a big deal. If it follows through. But why not, this is a grand idea. Breakaway from peering governmental eyesight.

Upvoted and resteemed Mr.@adept.

pocketsend:100@adept

That's amazing... everyone need some privacy! The government are spying all crypto holder and jailed them if un-declare.

I totally agree with this . This is in fact very knowledgeable and informative. I believe if we implicated this the future of this blockchain could undoubtedly be The best and in a class of its own . Steemit will prosper as long as the community is continually educating each other and adapting there’s nothing smee

@adept I totally believe that the big 3 (steem, eos and bitshares) will skyrocket to $5 $10 20 $100 and so on on many ways. 

Your idea of adding privacy to steem transactions is a great one, I am not a dev so not sure on the best methods, however, I see this is just another great things that STEEM can add to its tremendous power. 

The SMTs, @utopian-io and the new economies and markets the STEEM Blockchain is developing, all these together with the bottlenecks that ETH is suffering right now, that with around 165,000 less transactions on the blockchain than STEEM, it is already stuck overwhelmed with 29,000 transactions not processed yet. And STEEM with 165k more transactions and being the top in the activity of blockchain transactions, is only using 0.3% of its capacity. This means, 99.7% is still available for doing millions of transactions, and with all this, the blockchain is working great.

There are lots of surprises comming for the year end, I am sure, and for the new 2018. 

Thanks for sharing this great idea. 

Upvoted!

Regards, @gold84

There are some people working on the STEALTH token for bitshares, which is going to support anonymous transfers.  Check that one out.

Wonderful idea.much safer and secured too...thanks for this entry too.
 @adept

I'm wondering how after the STEEM is burned and the BPT token is created, how the BPT holder would be able to 'cash in' the tokens they received. Would BPT somehow be pegged one-to-one with STEEM tokens?

![DQmb76s2QzAiYnqfpsnA1EAdbJA56bzX9WVt58MDj9nRUWJ.gif](https://steemitimages.com/DQmb76s2QzAiYnqfpsnA1EAdbJA56bzX9WVt58MDj9nRUWJ/DQmb76s2QzAiYnqfpsnA1EAdbJA56bzX9WVt58MDj9nRUWJ.gif)

> A limitation is that since the entire history of the tokens sent must be transferred from user to user, the history of your token is known to whoever you send BPT to. This is still much better than every transaction being publicly recorded on the blockchain.

No it isn't. Over time any regular transaction processor (such as an exchange, payment processor, bot, service, active user, etc.) will see more and more of the history and very little of it will remain private in any useful sense. (The same criticism applies equally to blackbytes itself.)

If you are going to create an embedded coin protocol, you can define whatever protocol you want. You might as well use some better privacy enhancing method instead of this silly one.

Are you saying that you believe the privacy feature is holding STEEM back?  Do you believe that STEEM would be worth more today if it has this?  

Personally, I do not believe a lack of privacy is a huge issue...at least at the moment.  Perhaps it could be a major issue down the road especially if the governments of the world start moving into the banning and over regulating mode.  

I understand there are a number of tokens that offer privacy yet some of the highest flyers are without it.  

And what would a privacy system like you are talking about implementing mean for the tokens created using SMTs...do they get it too or is it something that they go without?

I'm wondering how after the STEEM is burned and the BPT token is created, how the BPT holder would be able to 'cash in' the tokens they received. Would BPT somehow be pegged one-to-one with STEEM tokens?

Great job man! This Pocket + Byteball system might end up being a great combination for anonymous steem transactions!

pocketsend@adept:100, great idea. I would welcome more features to make intra-user payments.

pocketsend:100@adept, sorry the command was wrong the first try.