I bought a carbon telescope with a view to restoration. I am thinking of buffing down and recoating with XCR Epoxy. The telescope was obviously left outdoors at some point, some of the bolts are rusty and the Aluminium end caps are bubbling under the paint (powder coat?). I have attached pictures of the carbon, and was wondering if anyone could say what the white marks are? It must be some kind of water damage i think, and thought it might be best to get a second opinion of what, if anything, can be done about them before actually doing anything. I think I will re-coat anyway as there are loads of pinholes.

Looks to me like a typical clear gelcoat followed by a mediocre hand layup. You will need to sand back the gelcoat to get it fixed.