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SN is a group of people that started an experiment. they feared what the fed might do to them so they remained anonymous.
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Is this real news?
Btw i think its not. Because if they had millions of usd worth of btc dumped on them, then that means people bought nubits. which is good.
i think you are making FUD.
Yep, they had millions worth of BTC dumped on them. That means that when BTC went from 300 to 200, they held BTC and lost hundreds of thousands of dollars in value. If people try to get out of NuBits now, then they will suddenly find that there is not enough BTC to cover the bought NuBits at this lower price. Suddenly the buy wall will disappear and your NuBits will be worthless. The only way you can have a safe peg is if the collateral is locked on the blockchain where you can see it and evaluate the risk! I'm absolutely making FUD, yes. But until there is cryptographic proof that NuBits' "trusted" custodians are solvent, then my FUD is true. NuBits is operating as a fractional reserve. is there proof that they are insolvent tho? |
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you guys wanna make me puke.. eeewwww.. uuggghhh... bbrrrrrrwwwwwwaaaaaarrrrhh  |
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are there plans for burst devs to make block times shorter?
edit: i like what i'm seeing in POC and people will be convinced if block times are only a couple of seconds long. i was wondering if this is possible in POC going forward.
i am actually thinking about instant confirmation regardless of block time. Is that possible ? Burst should lead other coin in terms of innovation. Cutting down block time doesn't seems exciting at all. imo, with POC, this project and its devs are on to something here. but what would really help is making transaction times faster, yes. but without sacrificing any risk in security. i was wondering if it was possible moving forward. also, i noticed other projects seem to add more 'features', when what they should be really doing is go back to something basic like make transactions faster. people seem to underestimate the power of speed of transactions in crypto. |
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are there plans for burst devs to make block times shorter?
edit: i like what i'm seeing in POC and people will be convinced if block times are only a couple of seconds long. i was wondering if this is possible in POC going forward.
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Yesterday was a huge day for traders, with many making a lot of money by going short on the bitcoin price and the leveraging to maximise their profits.
We saw a spike in trade volume on the Coinarch website.
Many may have made money shorting Bitcoin, but many made money (myself included) buying at the low prices and banking on a rise. could be a dead cat bounce tho. be careful btc hasn't stopped going down since the 1st quarter of 2014. there were blips and signs of reversals, but still continued going down after.  |
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but the idea is it should be taking after the ideals of crypto. like how btc started.. from the grass roots.
Who cares what ideals it takes after? What if it just works really well and kicks ass? by work, you mean no counterparty risk and single point of failure, then yes that would kick ass. |
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still holding fiat from btc sales at +300. also holding nubits.
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smells centralization...  Nope. Just administration of the guarantee (the backing). Everything else is decentralized. The token still trades without interference from a central authority. But unlike bitcoin which has nothing backing it, Tether will have a pot of cash stashed away (with an administrator - hopefully trusted.) The admin won't be able to manipulate the token. The high level of auditing will assure the backing is well cared for. looks good. but how is this different from say ripple and its gateway system? that could work pretty well enough if you accept tether as a good solution. maybe what we need is something like nubits or bit.USD (afaik these two dont have counter party risk), but with a different implementation. all in all, a pegged bit.FIAT could be the future. |
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is it open source? if bitfinex goes down, will tether be able to continue?
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I think what we need is a true decentralized exchange all dealing with a decentralized, pegged bit.USD (or any fiat) implementation. Something that the govt. would need to shut the internet down to stop its services.
Save us Cody Wilson, Amir Taaki, Peter Todd.
Tether is now live on bitfinex and traded via true decentralized exchange. Exactly what you describe. Go look at Tether/Omni i'll read into it. but the idea is it should be taking after the ideals of crypto. like how btc started.. from the grass roots. |
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bitUSD already exists  it does yes. but implementation is key. people seem to question it. |
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I think what we need is a true decentralized exchange all dealing with a decentralized, pegged bit.USD (or any fiat) implementation. Something that the govt. would need to shut the internet down to stop its services.
Save us Cody Wilson, Amir Taaki, Peter Todd.
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Most of the big exchangers are the same. That's why they will be closed. The ones from USA like BitPay and Coinbase very soon.
So do you know Tony? He's a great guy and a savvy businessman. And have you been out to SF to see Coinbase. Great location huh? Now why would these successful companies close? They have tens of thousands of happy customers. Because they are ALL outlaw. they are not MSB as it is required. I mean, other "stupids" must be registered as MSB by paying bonds, taxes, audits, waiting for months to get the license and some "smart and great guys" like this "Tony", NOT. According to the FINCEN: " a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter. In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."It's just a matter of time until all the so called exchangers will be closed. SilkRoad had thousands of happy customers too. Does it matter? They are behind the bars now. Do you remember Bitinstant? Bitinstant owner (Charlie Shrem ) pleads guilty to operating unlicensed money transmitting business. Do you want more examples? What is the difference between BitInstant and Coinbase, Bitpay, Kraken? NONE ! Coinbase follows KYC rules of being a money transmitter whether it applies to them or not. Bitinstant made the mistake of linking to silkroad. You ask whats the difference? Evidently alot which includes a court case and jail time. Being licensed means that you, as company is supervised by a gov authority. You have to respect MANY aspects as being financial institution. You can have as many KYC rules you want. If you are NOT licensed as MSB, you will be arrested sooner or later. There XXXX examples of people who received jail sentence for Unlicensed Money Transmitters. BUT being MSB, you cannot deal with anonymous systems/transactions like Bitcoin. This is the law. Remember, Bitinstant owner, Bitcoin Foundation's member (Charlie Shrem ) was arrested and HE pleads guilty to operating unlicensed money transmitting business. He will be in jail for 2 years. How is Coinbase, Kraken or Bitstamp different than Bitinstant? There are NOT so they are facing the same faith. i think what we need is a true decentralized exchange all dealing with a decentralized, pegged bit.USD (or any fiat) implementation. something that the govt. would need to shut the internet down to stop its services. save us cody wilson, amir taaki, peter todd. |
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You are clearly trolling about the block confirmation time. However merchants selling items priced as low as a single beer should have no issues accepting 0/unconfirmed transactions as the cost to pull off a double spend attack would be greater then the cost of the goods you would be stealing.
As a result you would not need to wait 10 minutes to buy a beer
i wanted him to troll some more. it is actually an opportunity to advertise the projects you like by talking about it with the trolls.  |
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yes. so buy 10 beers at one time.
i am serious . How will it be entegrated everyday life? if you're a merchant you should use services like gocoin or bitpay if you want to accept bitcoin. will i able to pay momentary via bitpay? momentary? |
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... or if you really want to do it on your own, there's ripple.
but keep in mind, that using the methods mentioned is like having a middle man. you get your btc in seconds, but someone else is holding them for you.
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yes. so buy 10 beers at one time.
i am serious . How will it be entegrated everyday life? if you're a merchant you should use services like gocoin or bitpay if you want to accept bitcoin. |
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yes. so buy 10 beers at one time.
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