why don't you make a altcoin, wouldn't it be easier?
  
Abstract Coin, has never been about creating an altcoin, its more about having fun, experimenting with a new idea, seeing where it goes, and it definitely going places!  


Are all these projects embedding stuff in the blockchain just an elaborate scheme to twist dev's arms into addressing the blocksize limitation sooner? Or am I missing something? What's the benefit here?

The fact that 3 projects are developing similar ideas should indicate the awesomness of this idea. If  Abstract Coin succeeds, it will open up a new and easy way of making altcoins, it is similar to colored coins but with some key differences, the market will decide which is best!

The altcoins created with Abstract Coin will right away inherit the same level of security as bitcoins.

It will allow people to create their own decentralized Abstract objects for wtv reason they see fit, it could be used to Issue shares in a decentralized manner, at the click of a button!

Just because Abstract Coin piggybacks its protocol on the bitcoin network, doesnt mean its functionality will be limited to the bitcoin TXs, an Abstract Coin could be made to allow for a delayed TX or  wtv other type of TX we can imagine!

It is not clear whether this is even possible, but the potential benefits are to gr8 to ignore, we must try!

my wallet might benefit!  lol

their are many benefits to adding my own layer on top of bitcoin

I'll make a detailed post as why I'm doing this, what the long term goal is, and why its going to be really cool and fun, tomorrow, I'm watching star trek now 

oh oh 103 again 

seller are not going to take down the wall that is pushing bids higher.
i think at this point seller are patience not panicked  

all hints welcome  


is downloading the source and looking at the code the only way to go?

I'm looking to dive into the bitcoin's code, I was wondering if someone had a bare bones console program that just pushes a TX. this would seem to be a good starting point.

if not please point me to a good starting point.

thanks

spiral_mind believes i am a dacoinminister sockpuppet, when clearly i am a real person, that often posts on speculation forum, created Abstract Coin, ower of thebitcoinreview.com, and started the bitcoin montreal meet-up, some people have meet me in real life! I am no socket puppet... spiral_mind's other sock puppet actuations are also hard to believe, these avatars have been around for a long time, and each appear to be a real person. He even called cbeast a sock puppet, come on! unless dacoinminister has multiple personality disorder i just don't buy this sock puppet stuff.

holy shit batman

moment of truth

will mtgox bounce off 101 or 100?  who knows! 

adamstgBit(4100uAC) = Wallet[AC0m97S1|adamstgBit]->SendAbstractCoins( ACs0m413|soma13 ,  49);
adamstgBit(4050uAC) = Wallet[AC0m97S1|adamstgBit]->SendAbstractCoins( AC13BOBIS|J.R. BOB DOBBS,  50);
adamstgBit(4000uAC) = Wallet[AC0m97S1|adamstgBit]->SendAbstractCoins( AC00100|Voodah,  50);

confirmed, my mistake.

confirmed

ya its worth it

but maybe LTC would be a better choice, I think the tx fee for LTC is cheaper, not sure, investigating different possibilities...

yes i will keep sending out freebies, and they will be all transferred to the new version
but the freebie will less then before.

My thinking was that ASICminer is valued at X$, so if bitcoin goes up or down the share price would naturally move to reflect that X$ valuation.
and so i used this investment vehicle as a hedge against the volatility of bitcoin, it's too early to say if this will actually work like that in practice, in any case, i'm glad i bought some!  

Review my proposal and post your comments below

A few months ago I created a new kind of coin, an "Abstract Coin". The main idea behind Abstract Coin was that I basically declared that I had the one and only Abstract Coin and simply posting in the thread saying that I give so and so 0.1AC made it so, people would quote and confirm posts that sent Abstract Coins from one person to another. We developed the protocol, and because we could all look back at the "quote chain", we could all agree who had how many coins.

for more info on Abstract Coin, see this thread https://bitcointalk.org/index.php?topic=224873.0

All in all the idea worked, we were able to assign some value to these coins, a few of them were traded for LTC. But the main difficulty was that verifying a claim on Abstract Coin had to be done manually , users had to manually look at the quote chain to figure out if an Abstract Coin TX was valid. Another major concern was that the quote chain could be modified or even completely deleted by the admin accounts on this forum. we thought about implementing the protocol on a different platform ( twitter ) but it seemed like a moo point. Everyone accepted the risk that our quote chain could be compromised by forum admins, and this limited Abstract Coin's ability to grow greatly, everyone knew if it would become at all valuable the scheme would fall apart.

A new innovative solution has been found!

Inspired by MasterCoin, I plan on reworking my Abstract Coin idea, it will work in much the same way, but instead of having the database of transactions embedded on this forum, we will piggyback our transactions on bitcoin's blockchain! A windows client will be developed to scan the block chain for these special AbstractCoin transactions and compute them. At first the client  will only be able to send AbstractCoin, but many many new funky functions can be implemented.
 
I believe this will give AbstractCoin new life, and i look forward to seeing it in action, and adding to the protocol.

Do not worry,when the new protocol is ready for launch the AbstractCoin0.3.0 coins you own will be transferred over the new protocol,  like we did on the previous upgrades; after the genesis block, i will create all the TX's necessary to give everyone who had Abstract Coins the correct amount Abstract Coins back.

guys i figured it out!

we will piggyback Abstract Coin TXs on the bitcoin blockchain! every bitcoin TX has space for random data, an Abstract Coin TX will utilize this space and will appear as a 0 value tx on the block chain with the extra data filled with an AbstractCoin++ function call

a windows client will be developed to scan the block chain for these special  AbstractCoin++ function calls and compute them, and their you have it! This will solve many problems we have been experiencing.

Do not worry, the Abstract Coins 0.3.0 you own will be transferred over the new protocol Abstract Coins  1.0.0!!!,  like we did on the previous upgrade after the genesis block, i will create all the TX's necessary to give everyone the correct amount Abstract Coins

the creator will have more than 10 times more coins than the second most invested Mastercoiner. He controls the address to which people must send the funds to, so he had no problem sending ALL his coins their. This is clearly unfair, and frankly an abuse of power on the creators part. He says things like  " i hope i can produce this in time " or " I have three small children and my lovely wife who take priority over anything else. "  or " Someone else could do it better. " ... I love the core idea, but am becoming concerned about the developer's ability to execute, and i'm not sure i agree with the direction he has taken.


I believe i can do better!

stay tune for Abstract Coin 1.0.0!

 

Kupsi is french?

orly,

your sure its not the bear trap of in the institutional investor stage?

maybe if someone dumps 10k at once... but more than likely more then 10k coins will be traded above 101 over the next 24 hours, and depth will be more like 15K BTC to 101, after this 24hour period