Faq
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Table of Contents
Frequently Asked Questions:
Q: I get “Transaction size is too big, please optimize your wallet” or “Transaction is too big” errors, what should I do?
A: Often, this is because of a lot of small incoming transactions. With the command line Concealwallet, you can optimize your wallet to send larger transactions or a single big transaction. See this guide on wallet optimization. Service providers using the RPC Wallet, should look at the guide on [Fusion Transactions](Fusion-Transactions).
Q: When sending a transaction, the payment ID clears and nothing happens after I hit the send button. What is the issue?
A: This is commonly caused by trying to send funds before wallet synchronization is complete. Check the bottom left-hand corner of the wallet to ensure that it is synchronized. If you see a message that says “synchronizing” or “last block received xxx hours ago”, then your wallet is not synchronized with the network.
Q: Is Conceal like Bitcoin?
A: To all bitcoin maximalists flooding my DM inboxes on social media,
BTC's Lightning network only allows small payments to be accepted due to limitations on the amount each channel can handle. And the process of opening a channel, needed once the limit on the previous one has been reached, makes it extremely difficult to automate for business applications.
Can you pay a car or a house with LN? No, because Lighting Network channels can only handle small amounts (a few sats). With Conceal.Pay you will be able to pay your daily coffee or even buy a castle and the transaction time and fee will be the same. No amount limits. Totally confidential. No need to open a channel, you have a truly decentralized p2p blocks highway used by everyone.
Can LN be used by big online retailers? No, because LN doesn't support clustering. No, because technical issues happen in real life and the merchant channel/wallet could be offline. With CCX even with no channel or wallet offline a business is still able to get the funds in the right address.
And these features are only the beginning. In a near future Conceal.Pay will have an arbitrary system to protect consumers when buying online.
So, shut up and do your homework. There was no whitepaper for the first automobile, nor combustion engine, nor bicycle and those technologies are still massively used today.
CCX is a native medium of exchange with store of value capabilities.
Basic comparative between BTC and CCX block rewards on the 1st year:
BTC: 7,200×365/21,000,000 → 12.51% inflation per year
CCX: 3,600×365/200,000,000 → 0.00657% inflation per year
Inflation generated by the block rewards in Bitcoin has been 1,904 times bigger than in Conceal.