The Block Chase
Note: Currently, this writer has no AEON coins.
What is AEON?
AEON is a cryptocurrency.
Some refer to AEON as a lifestyle. That is a selling point, but let us be critical.
AEON is a fork of Monero, which in turn, is a fork of the main CryptoNight/CryptoNote based cryptocurrency, Bytecoin. It is also influenced by Boolberry 'coin.' In other words, AEON is "experimental."
In simple terms, AEON is what the developer referred to as a "2nd Generation cryptonote..."
It is designed to be anonymous, mobile friendly, scale-able and prune-able, in order to maintain a lean and efficient blockchain.
PoW algorithm: CryptoNight-Lite
Max supply: ~18.4 million
Block reward: Smoothly varying using the formula (M−A) / (218) / (1012) where M = 264 −1 and A = supply mined to date.
Block time: 240 seconds
Difficulty: Retargets at every block
Who can use AEON?
Anyone with a computer and spare time.
Soon, it is hoped that anyone with a smartphone will be able to use AEON. But we are waiting. The question is, should we?
Currently, AEON is popular at the Bittrex Exchange and there are other ways to obtain it; however, it is recommended that persons in places like Hong Kong (China) and Russia begin to adopt the cryptocurrency -- if you want to keep your lives less complicated.
Exchanges like Poloniex could adopt AEON, but this writer suspects, based observation over any months, that this will not occur any time soon. Poloniex is clearing out older coins to make room for something...but not AEON. Reasoning? Probably trading volume - at present.
Additionally, any Exchange could bring in needed revenues by collecting trading fees as AEON sales are increasing, but recently...decreasing. This is probably due to Monero's influence. Lately, Monero has surged. It often outranks all other coins in volume of trade, on Poloniex. Then it will, on occasion, destabilize - lose value.
Over the long term, however, Monero appears to be slowly adding cash value. One might expect this long term growth to continue, given the current state of world monetary affairs and the propensity of financial powerhouses -- governments and their banks. Meaning, our privacy has been and is being invaded in so many ways and Monero is attempting to right that wrong -- in the money department. Aeon, could certainly benefit from the continued popularity of Monero.
It is suggested that BTC-E, OkCoin.cn, BTC38, BtcTrade, Huobi, CHBTC, BTCC, and BTC100, give AEON and Monero, a good look. Thus far, it appears that many exchanges have stayed away, however.
AEON was launched on 6.6.2014 at 6:00 PM UTC
There was no premine or instamine.
When was AEON launched - originally?
AEON was launched on June 6, 2014, 6:00 p.m. That is 'Coordinated Universal Time' or UTC. In other words, London (England) time.
June 6th has significance, but it is not known if the developer chose it for this reason. Probably not.
It was the 70th Anniversary of D-Day and marked the beginning of end of Adolf Hitler and the Nazi advance across Europe; and arguably, the world.
It seems only fitting that AEON could also mark the end of fiat-money-Nazism (National Socialism) as well. Some have termed it "Weimar World," meaning a world full of hyper-inflating prices as a result of Keynesian Monetary Policies. Money, like AEON? without backing.
In fact, the time of 6:00 p.m. also appears significant. At that time, over 70 years ago, Charles de Gaulle, then leader of Free France, addressed the French:
"The battle has begun and France will fight it with fury. For the sons of France, whoever they may be, wherever they my be, the simple and sacred duty is to fight the enemy with every means in their power."*
Okay. Let's be real. AEON and the French may not mix, but by and large Europe appears to be closer to a cashless monetary system than many other countries -- according to Zero Hedge.
Who launched AEON?
An anonymous developer on the Bitcoin Forum named "Aeon" launched AEON.
"Aeon" indicated that there was no "premine" or "instamine," meaning that no crypto's were generated and/or held before launch. He/she appeared to develop the crypto-currency until March of 2015.
The final post by "Aeon" on the Bitcoin Forum was March 31, 2015. It read simply:
"smooth you have PM."
Previous posts by "Aeon" thanked the community for its participation and offered Github, email and other accounts to a new developer.
Could "Aeon" have actually been "Smooth" or some other Monero Dev? Certainly.
If so, perhaps it was to lend it some 'distance' from the Monero project to give it more credibility.
We must remember, however, a single contributor can have many 'handles' on the internet. "Smooth" could be one or many people. He could be a fluffy pony even.
In any event, does it really matter?
Who is the Lead Developer for AEON now?
"Smooth" became new and Lead Developer of AEON on April 26, 2015.
"Smooth" uses a meme for privacy and/or security purposes. It is a photo of the actor Jeff Bridges as the Big Lebowski.
(AEON was originally code named "Phoenix.")
A new road map was developed and included:
- A Mobile-Friendly PoW (CryptoNight-Lite)
- Increased Block time for fast syncing
- Signature-trimming for SPV-like clients
- Blockchain pruning for scale-ability
- Multisig and payment channels for escrow, contract and instant payments
(For more in depth information, please see the AEON Bitcoin Forum entries. Although these can be a bit trying, at times.)
As of this writing, the Github "Readme" file in the AEON repository had a copyright notice which read, in part "...2014, AEON, The Monero Project."
Who else develops for AEON?
"Smooth" readily admits that he also develops for Monero.
In his camp, "Smooth" has "Arux" for "Release engineering, Q/A, support."
"Arux" is also registered on the Bitcoin Forum.
"Arux" uses a meme online. A puppet, orange in color, typing at a computer. Americans might refer to the "Arux" meme as a "muppet." A video of said puppet is included with this hub. I can't understand the language, but I sort of understand the idea.
The reason for developer anonymity is uncertain. One can only speculate.
Is it safety? Privacy?
On the other hand, the Aeon folks can be contacted on the Bitcoin Forum and are often willing to answer questions.
In a sense, the Aeon developers are pseudonymous. But to sit down and have a cup of coffee with "Smooth," might be difficult.
But again, why all the anonymity?
Think of it this way, when the English sent their mini-subs, before D-Day, they did not announce their presence to their enemies. That would have been suicide.
In this case, had the Aeon developers announced who they were, not only would they be the subject of investigation by many governments, but any stray hacker -- more problematic -- and the distraction would be unnecessary, to say the least.
Suppose, just for a moment if Aeon became wildly popular and began to compete with National Currencies. What would happen?
The answer seems readily apparent.
The Crypto-currency Innovators are being "Arrested"
Just ask Ross Ulbricht of Silk Road fame.
Research Arthur Budovsky.
Both are Federal Prisoners.
Check in on Charles Shrem.
Although the above examples may not fit, since it was alleged that the above persons allegedly accepted stolen money, enabled drug dealers or assisted identity thieves -- if the these allegations were not actually manufactured.
But this is not necessarily the case with all innovators. And one has to read between the lines and ask the hard questions.
These circumstances may be why Satoshi Nakamoto, if he is Craig Wright, has backpedaled. Will he be arrested?
In any event, the United States felt compelled to scoop up Arthur Budovsky in Spain. He was a citizen of Costa Rica. He had given up his U.S. citizenship previously.
That's a long "Patriot Act" reach.
Enter the Securities and Exchange Commission (of the U.S.). They have strict rules governing money transmission.
All crytpo-currencies, if traded, used, transmitted -- you get the picture -- must comply. They are, as far as the Securities and Exchange Commission is concerned, money or property or something they want to tax and kill so their government banks can copy and use.
Aeon must comply. At least that is the requirement in the U.S. But will it?
The problems are many, even for Aeon. The on-ramp for one. You need to buy it or make it. If you buy it, using your state money, trade for it using via Bitcoin, via secret exchanges/mixers or a very public trade, you are being recorded -- probably. If you make Aeon -- mine it -- good luck, unless you have some serious CPU, GPU power or other method -- hopefully legal of course.
The off ramp is another problem. You might want to spend or trade your Aeon at some point. If you buy something, say a radio or a cell phone, you might need to provide a mailing address or your name. That then defeats the anonymity aspect and publicizes your use of Aeon.
In a sense then, Aeon (or Monero) becomes a store of value, albeit a risky one. Imagine what Victor Hugo would have written in this day and age about Jean Valjean. Why store cash, earned honestly, when you can stick it in a private blockchain? No heavy chests to lug around.
Bitcoin is on loose footing in the U.S. already. Yes, there are exchanges selling it, but they are required to divulge user identities, without user knowledge. I'm sure they know me, but I'm small potatoes.
Just ask Microsoft about its "Gag Order." They cannot divulge to the public or even to a person under investigation, when Johnny Government requests names, home addresses and you know the rest. Occasionally, criminals should not be made aware of investigations, but are honest, hardworking individuals, who simply wish to escape the corrupt monetary systems of the world criminals or are they future heroes?
Bitcoin divulges too much. The blockchain is transparent. Using it places a spotlight on you and when the lazer-beam of Internal Revenue agents comes to take your used car and wipe out your savings, place a lien on your home, search your safe for gold and silver coins -- for a perceived slight against the system -- well you know the rest.
Don't worry. You have rights and you will get free things even -- in the United States. A free and speedy trial in Federal Court and a nice free cell in Federal Prison. Again, if you're small potatoes, you are probably okay -- maybe -- even if you deal with Coinbase, but maybe you should not bubble your stomach acid. Could be worse, right? Could be gas chambers or ovens, but who wants to go to prison or have their financial life decimated?
So it behooves the governments of the world to act early and decisively and against a big player in the cryptocurrency scene in order to root out this growing monetary threat -- especially given the Chinese angle - the international currency war aspect of it -- before it eats away at the state currency and undermines the government's ability to control our monetary lives. The Military-Industrial machine must be fed or it takes over? Hopefully not.
You can bet when and if the U.S. Government -- the "eMint" -- mines its own cryptocurrency, that it won't be transparent, nor will it be deflationary. Every Bitcoin transfer, by comparison, can be audited by anyone and this, ostensibly, keeps everyone honest. But it is not necessary and appears to throw the 'privacy' baby out of the third story window.
This is probably what the U.S. "eMint" will tell us, when they turn on "Fedcoin." Currency matters are private, except when in comes to the government and its multiplying departments.
How can one purchase AEON?
There are currently only two main ways to obtain AEON today. But be really careful.
The first method is via the exchanges. Currently, Bittrex and Cryptopia list AEON.
You'll need to have Bitcoin, in most cases, before you buy any AEON's. I find that Coinbase is a reputable company, but there are many others.
The second method is the Over-the-Counter method. This means you ask somebody online, typically on the Bitcoin Forum, if they would like to trade. It can be very risky, however. Pick someone you trust. There are also many ways to "pay" as well.
Like Monero and its "simplewallet" programming, the Aeon software is not easy to use.
Monero does have an online wallet, but its a bit clunky and slow.
There is a new upcoming "GUI" wallet for Aeon, however, and this should speed up adoption. If it comes out in the near future. A long delay might just kill it.
Aeon is also an outrider -- an "underdog." Or it could be a DarkNet darling.
Could Aeon be a test bed for Monero? Certainly. If so, it would not be the first time.
In the end, the ultimate choice is yours.
After having experimented with many crypto-currencies I downloaded Aeon.
I decided on the "simplewallet" and gave it a whirl. Aside from my lack of typing skills and dislike of the Monero "simplewallet" and online wallet, I had zero problems.
In fact, of all the crypto's I've tried to date, this Aeon surprised me.
Here was how:
I traded Bitcoins for Aeon's on an exchange called Bittrex. I then began conducting what I call speed trials. Nothing official, just layman stuff.
I transferred some Aeon's into my wallet. The speed was nothing spectacular, but it was far faster than Bitcoin.
But the third time I did this, something odd happened. I clicked on transfer from Bittrex and at the same time I had my Aeon wallet open and had already typed in "balance." So I hit my enter key.
My Aeon had already arrived and was processing. I blinked. Not possible, I thought. But I tell you -- it happened.
I was darned surprised. I texted "Smooth" on the Bitcoin Forum about this and was advised that it was probably just a fluke.
In any case, I'm closely watching Aeon.
Why I posted this Hub
The reason I wrote this was because I could not locate reviews of AEON, other than Bitcoin Forum and/or Reddit-like opinion pieces.
It is also a reference for me.
I hope that Coin Desk or Bitcoin Magazine will soon feel compelled to provide more in depth coverage of AEON and its clan.
Based upon Bitcoin Forum responses, it is believed that Aeon will be routinely updated as Monero does the same.
If Aeon is attempting to mirror Monero changes being discussed, then there may be a hard-fork (a "rolling hard-fork" -- as it is being called) planned in order to improve functionality.
This hub was not intended to provide financial or legal advise. Should you have questions about the legality of crypto-currencies or investment opportunities, seek counsel -- or use your own brain.
This hub was not strictly intended to promote any particular crypto-currency. It's primary focus was to expose the reader to innovators, before they may (or may not) become household names.
But don't write off Bitcoin, just yet.
For more details and discussion about AEON follow this link.
There is a turf war going on with Monero that could also affect Aeon.
- https://bitcointalk.org (under "AEON")
- * http://www.telegraph.co.uk/history/world-war-two/10878674/D-Day-6th-June-1944-as-it-happened-live.html
- Github.com (under "AEON")