 Wasted too much time and money on a transfer today. I blame the company that is being a pain in the butt to deal with which is not bitcoin. Unfortunately, I wasted a lot of time and money dealing with something today and having a virtual currency for me that may or may not be legal in some areas is too risky for me. I've met some great people on here. I wish you luck. in this sense they can ban Bitcoin much the same way they ban guns without explicitly banning them. Simply make it sufficiently difficult to obtain and utilize them to the point where alternatives are more attractive reducing the number of owners to ZERO, thus rendering political support to NONE. |
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does anyone besides yourself(who is not anonymous) support your claims as to what this software does? |
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I think if you read the above posts I wrote, you will see that no, you don't lose the censorship-resistance features of the cryptocurrencies, because they are not sent directly to the OT server, but rather, are stored in a voting pool on the blockchain, where those coins are recoverable even in the event that the server itself disappears.
My apologies for making you repeat yourself. I ignore how these voting pools works. I'm guessing it's a large multi-signature thing (many people together can replace the signature of the server), but definitely I need to study it a lot more. Thanks. It's just a safe place to store coins, ON THE BLOCKCHAIN, so that an OT server can issue units based on those coins, yet without having the ultimate power to disappear with those coins. So if OT relies on the Block Chain why use Open Transactions at all? |
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They will attack you wherever you have no means of self-defense.
So we need an anonymous, P2P trading platform, even just as a last resort. I disagree with the narrative in this community that we shouldn't expect to beat government to it, we can cooperate with them as long as it's reasonable and out of our self-interest, but not outright capitulation.
sorry about the repeat link posts, but I recently wrote this paper and it offers a solution to the p2p Exchange Problem. https://docs.google.com/file/d/0BwUFHE6KYsM0ZkxLVmFwbXQ3ck0/edit?usp=sharingjust want to make sure everyone knows this option exists. -bm |
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I'm sure you mean well, but this is very depressing:
It appears that OECD regulators recognize this and are willing to give those of us who are more interested in making money by the boatload than in taunting Sauron the benefit of the doubt...
If you are more interested in "making money by the boatload" than in tackling Sauron, I suggest that there may be better ways. Have you considered becoming a plastic surgeon, for instance? Bitcoin is about bringing Sauron down. If you are just in it for the money, I don't think you get it, regardless of your long experience. Plastic surgery? No. I studied Economics and Finance specifically to avoid gooey and smelly stuff. If we are using Sauron here to mean the European Central Bank, the Fed, the FATF, the IMF, et al., then the idea of a single protocol bringing that down is rather quaint. For that to happen, Bitcoin's adoption would have to be more widespread than moneypunk geeks, suburban 'anarchists', and the odd drug dealer and gun runner here and there. The Libertarian Party has a better chance of getting one of their own elected President of the USA than that has of happening. This is not to say that the current regime is robust. It is rotting from the inside and has been for a long, long time. It is like a wooden bridge that is showing signs age and wear. If Bitcoin happens to be the last truck to drive across that bridge before it collapses—as well it may be... or not—to say that Bitcoin brought down Sauron would be overstatement. Bitcoin fanboy bluster is as silly as gun-nut bluster about preferring to orphan one's children and to widow one's spouse, rather than surrender one's personal and home security equipment. If no one rose up to push back Leviathan after the passage of the DMCA, the continuation of the never-ending War on Drugs, the enactment of mandatory minimum sentences for victimless 'crimes', the enactment of the USA PATRIOT Act, Sarbanes-Oxley, the latest NDAA, the exposure of Presidential Kill Lists, et al., ad nauseam, how could anyone take seriously the idea that bitcoiners are going to usher in the New Age of Liberty and Freedom? More fundamentally, why should Bitcoin be against anything? Billions of humans who live outside the OECD, and tens of millions who live within the OECD, are very poorly served by the existing payment and banking regime. Bitcoin can empower such individuals to participate completely in the increasingly integrated global economy, and that would be revolutionary. In all sincerity, and with no malice implied, I wish you all great good luck with your political insurrection. I'll be over here doing business with the other 6 billion. Im not sure exactly what you're implying here. something along the lines of 'The Revolution Will Not Be Televised, So We Can't Run Commercials'? if you take the idealism out of Bitcoin, what is the point? |
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I don't need permission from them to trade USD<->BTC, nor will I ever. They can jerk themselves off talking about regulations all they want, but they're just going to look dumb when none of it matters.
Of course they do matter. They can close down exchanges, they can close down business, and while this won't outright kill Bitcoin, it will make it much less useful and easy to use. they can't close down an exchange built with this: https://docs.google.com/file/d/0BwUFHE6KYsM0ZkxLVmFwbXQ3ck0/edit?usp=sharing |
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Why does the Impossible Mission Force care about Bitcoin?  Agreed, that any news is good news. My thought exactly. There is an easy way for them to deal with bitcoin, all they have to do is buy them all and erase the wallets. But alt currencies are like potato chips, we'll make more. so if I hold out and don't sell, my coins will be worth big $$$$! |
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good thing Pete Rose didn't have this.
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That would be a very clever system indeed. It's along the lines of the idea of contracts championed by Mike Hearn ( https://en.bitcoin.it/wiki/Contracts#Example_4:_Using_external_state), which is currently under development. It's mind-blowing in itself, but difficult to say when it will be ready for testing/general use. Some kind of service would need to be built around it to facilitate the matching of bettors, and "the oracle" would need to be fed regularly with event outcomes by a trusted party. yes that's right. Mike Hearn's idea is a bit more complex than mine. The system I have in mind is a little more primitive, however, and works with existing Bitcoin features. Easier to explain by example - I can try setting up an example and running it here on the forum, anybody know of any upcoming events that would be fun to predict? you could do everything in this forum as long as you - Had a trusted party who would publish the right signed outcome codes according to the event in question
- Used bitcoind to properly create the transactions
so we could technically make such 'bets' right here in bitcointalk. maybe we should try it? I can develop the TX codes if so. -bm |
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there are distinct advantages to this 'bookie' system.
bets are irreversible, cannot be voided.
the bookie and gambler can be totally anonymous.
gambler does not need to contact bookie to redeem winnings, it is automatically redeemable when the codes are published.
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I would like to see any prediction market. Host it on tor if you have to.
you dont have to host anything. In the system I describe above, you simply need to PUBLISH the signed predefined outcome codes. If the code that indicates a win is published, the coins can be released to the winners account. obviously to make this fun and usable you would want to automate all these things. |
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it's possible to create a booking system using Bitcoin.
The value of Q could come from a trusted 3rd party sports outcome publishing service. For instance you have a special authority that publishes sports outcomes in a known format, RSA signed, and they are known to be reliable. It wouldn't be hard to do for every major sport.
ex.
you want to bet 100BTC that Mets will win vs. Cubs on June 9th, 2013
"METS(6/9/2013)-WIN" is published and signed by the Authority if Mets win. "CUBS(6/9/2013)-WIN" is published and signed by the Authority if Cubs win.
Then a TX is created with two inputs, the STAKE(coming from the betters account) and the WINNINGS(coming from the bookie)
The scriptPubKey then checks to see if the signature for the win-code is correct, if so releases the funds to the better.
Another TX is created with one input, the STAKE(coming from the betters account)
The scriptPubKey then single checks for a signed win-code for "CUBS(6/9/2013)-WIN", if so released funds to the house.
Thus the authority only signs codes according to the sports outcome. If Mets win, then there is no signed "CUBS(6/9/2013)-WIN" ever in existence, only a signed "METS(6/9/2013)-WIN" which allows the better to redeem his winnings.
It might be possible to do this with ONE transaction, but I'm not completely sure.
You could create similar scenarios for political outcomes. Thus all you need to do is create a special service that publishes this information and these betting transactions could be created. It would require practically no technology, you could do it with command line Bitcoind, GPG and Google Docs.
-bm
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how can XRP have any value if it's possible for anyone to run their own Ripple network ie. the software is open source?
Are you trolling? LOL. This might work on the clueless kids logged onto this forum, but it's not working on me. It will have value if anyone ever wants/needs to make transactions on the vanilla ripple network. The forked xrp could be valuable, too...just like litecoin has a value. Since xrp is meant to have minimal value anyway this is not a huge deal either way, except possibly to opencoin shareholders. what are you basing these statements on? |
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how can XRP have any value if it's possible for anyone to run their own Ripple network ie. the software is open source?
Are you trolling? LOL. This might work on the clueless kids logged onto this forum, but it's not working on me. |
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I'm not aware of any kind of transaction in Ripple (probably JoelKatz can shed more light on this) that would even allow issuing more XRP out of the blue.
Anyways, we're quite a bit offtopic here, if you want to continue to argue that XRP are worthless (or worth less...), please open another thread for discussing this.
What I find interesting is that even though Opencoin just started their giveaway of 1000 XRP to their mailing list, the price compared to BTC actually rose,
on what exchange? |
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In an open source scenario, I can create another set of XRPs, let's call them MeanieDollars, that do the exact same thing as XRPs. That is, if Ripple will indeed go open source. GLWT. Ripple is not your average open source project. 30+ "MeanieCoins" have been created, and only Litecoin ever did anything (as bitcoiners seem to love it for some reason). It will probably be even harder to fork Ripple than it currently is to fork Bitcoin. Why? A forking of the network could happen, but it would have to represent real progress, MeanieCoin > Ripple? I can only offer my guess that a system so complex, with so many developers and business people working hard in support of it, will be nearly impossible to usurp. well if the XRPs are in the hands of specific people, and the community favors an alternative distribution of wealth- then a such a 'fork' would be well received. if ALL the functionality is available to the public, why WOULDN'T they do this? This is one eventuality where they WOULD do this. However, while XRP has value, nobody is pushing people to "buy in". Users and merchants can benefit from Ripple while holding very little XRP, and the value of XRP only necessarily needs to be enough to assure the integrity of the network by reducing spam transactions. IOW a new network would have to create a new XRP-style currency out of thin air, and adopt a very similar scheme. They would have to somehow get everybody on board despite the fact that in Ripple, we already have a great functioning iteration of the technology, is how I'm reading it. how can XRP have any value if it's possible for anyone to run their own Ripple network ie. the software is open source? |
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I think this is one important reason OpenCoin isn't releasing the source code yet. They may want to create an installed base with a financial interest not to jump to a different fork. And before you start complaining about this, it is exactly what we are seeing right now with Bitcoin miners bitching about XRP.
well yes they want to create conditions where this SPECIFIC currency remains in demand- which naturally they retain most of the ownership of. |
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In an open source scenario, I can create another set of XRPs, let's call them MeanieDollars, that do the exact same thing as XRPs. That is, if Ripple will indeed go open source. GLWT. Ripple is not your average open source project. 30+ "MeanieCoins" have been created, and only Litecoin ever did anything (as bitcoiners seem to love it for some reason). It will probably be even harder to fork Ripple than it currently is to fork Bitcoin. Why? A forking of the network could happen, but it would have to represent real progress, MeanieCoin > Ripple? I can only offer my guess that a system so complex, with so many developers and business people working hard in support of it, will be nearly impossible to usurp. well if the XRPs are in the hands of specific people, and the community favors an alternative distribution of wealth- then a such a 'fork' would be well received. if ALL the functionality is available to the public, why WOULDN'T they do this? |
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In an open source scenario, I can create another set of XRPs, let's call them MeanieDollars, that do the exact same thing as XRPs. That is, if Ripple will indeed go open source. GLWT. Ripple is not your average open source project. 30+ "MeanieCoins" have been created, and only Litecoin ever did anything (as bitcoiners seem to love it for some reason). It will probably be even harder to fork Ripple than it currently is to fork Bitcoin. Why? |
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