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1. We should host a protocol design contest similar to the X prize where first we agree on, define the problems which need to be solved by the protocol and then vote on the best solutions via a poll. The winner after 7 days should receive the prize and should be the team or lead developer of the project. The goal here should be to try to find the next Satoshi.
2. Once the contest is complete we start up a Bitcoin investment fund facilitated through Kickstarter or something. We pledge X amount of Bitcoin, this initial funding can pay for the development of the project. When the project is complete the transaction fees should be used to give the initial investors a profit of up to double what they put in. This would provide incentive to invest in the idea with the promise that anyone who invests will get more money out of it than they put in, but limit it to x2 so that it's not based around greed.
I think this is the best method for organizing the community around a good idea that we all vote on and then pledge some Bitcoin to. I don't have a lot of Bitcoin but if I pledge 0.5 Bitcoin and get 1BTC or 1.5BTC in return then I would be happy with my ROI. If everyone who invests gets similar then that would be fine as well, and if developers all get paid to do their job that is fine as well provided that the money isn't given to them all at once.
This would mean the Bitcoin would have to be in some sort of escrow and be released slowly on a weekly or monthly basis to the development team. Anyone like this idea and want to set it up? I really believe this is too important not to fund real development as an amateur effort probably isn't good enough for something this important. At the same time I think we have enough Bitcoin that we could probably fund it ourselves and we have every natural incentive to want to.
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I know this is against the free market but this thread should be PINNED! A P2P Exchange is a MUST and gollum has started us in the right direction. This need the full focus of the entire community right now. Maybe we should even start a fund for the developers.
I agree we need a fund but first we need to agree on a design and a plan. I'd be willing to throw a few bucks to a fund in exchange for shares or something to make sure we can get our money back. Like a kickstarter where we fund the development of the exchange with Bitcoin to buy shares and then we get all our Bitcoin back WITH A PROFIT when the project is completed. This would allow Bitcointalk to gather enough funds in Bitcoin to hold up both for the Bitcoin (Xprize) contest and ultimately for the developers who decide to take on the role. Consider how much money could be at stake in terms of the long term profits on your Bitcon and consider also that to pay for this we could have transaction fees which would give us double what we paid in and it could be both profitable for us to invest in having the infrastructure built and profitable for the developers who would get paid by us to build it. Who agrees with this idea? If you agree with this idea then lets figure out how to do it ASAP. Let's have either a contest to determine a design or let the programmers themselves create a bunch of kickstarters and bitcoin investment funds right away and let the community fund them all and see which team wins. GO GO GO! |
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mt gox is ddosed to oblivion again.
If it continues eventually the people responsible will be tracked down and put in jail. call the cyberpolice! they dun goofd. The hackers might think it's harmless, but there are serious penalties for what they are doing. They may think they're smart enough to get away with it, but it's 2013, there's millions involved and it's a serious crime. They're going to get caught. It's not that easy to catch them. It's easier probably to just make it so they can't use the same tactics anymore. This is an arms race now. |
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mt gox is ddosed to oblivion again.
Who cares... It's teething issues with the big load, and they're fixing the problem. I'm used to this now, and so is everyone else who has been trading. This is a critical period for them. If they don't fix the issue other exchanges will crop up, and they know it. They even answered my support questions in hours. I'm confident in a recovery, and my money where my mouth is. A few days will pass and we'll see the price slowly climb again. They can defend against the DDOS issues. If it continues eventually the people responsible will be tracked down and put in jail. I know a lot of people out there are pessimistic.. that's fine, but for me it seems the best time to buy. I agree with you. These sorts of hacks and techniques are routine in the stock market. The flash crash, look that up. High frequency trading is a major problem. |
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I've bought my coins back... I couldn't help.
The price seems to have stabilised, and there's good support now behind it.
It's time to hold again.
There's so much attention on bitcoin. everyone holding their breath, or glued to the screen like me.
Now that Gox isn't dying, and people are less afraid of gox dying. I think this is the beginning of a steady recovery!
Nothing has changed from a few days ago!! The coin is even more cool cause everyone is watching to see what happens and hoping to pickup a bargain.
Even a DDOS isn't going to shake confidence anymore. We've seen it happen a lot. The money is still there.
This is a buying opportunity for the prudent long term investor (think in years not weeks). At this prices Bitcoins are a steal because they are worth twice to three times as much. Most of the panic was the result of high frequency trading bots, DDOS, and price manipulation by hackers. The current price of Bitcoin is unknown but I don't think the value has significantly changed just because a few hackers messed with mtGox. They are trying to kill Bitcoin. If you have money in Bitcoin you should be in the thread sharing your ideas on how to decentralize the exchanges and make Bitcoin more scaleable. If we want 20-30 million people on Bitcoin next year and all the big money then you gotta figure out how to build the infrastructure. mtGox needs an alternative. or several. |
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No way.  There is a difference though. Bitcoins suffered a flash crash due to high frequency trading and demand which the infrastructure wasn't prepared to handle. Bitcoin was stopped by it's own success. The dotcom bubble was a true Bubble while Bitcoin is actually still a good investment at $80 because we all know it's going back up to $200+ as soon as the exchanges solve the DDOS, high frequency trading, and figure out how to scale up. Basically Bitcoin is under direct attack. It wasn't a natural correction or bubble, it was produced entirely by hackers. For this reason I'm confident that Bitcoin will recover in weeks to months, basically as soon as a workable solution is found. This probably will take months because a new protocol will have to be designed but in the short term the prices will probably be in the hundreds of dollars by May. Meaning as soon as mtGox gets its act together the bubble and exponential growth will return. |
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Looks like the dumping is over ? so 60-80 range will hold ? And price will start climb from monday. Because many will not miss the next bubble profit  So alot new money will still be invested in Coins ! What you think [/quote Is about what it was prior to the bubble. That is a good sign because it means we are maybe a month or two away from $200 again. In that time we can focus on fixing the scalability issues. |
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I want someone to help me with doing a trade until Mtgox put's back fees.
I would like to share 1/4 of the earnings if someone is really helpful. Is anyone available to tutor me the next 28 or so hours? I don't want to discolose publicly the amount of USD I have but it's about 4 months salaries in US.
I will pay only bitcoins and will provide mtgox CSV values.
What do you need to be tutored in? |
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Buyer BewareBitcoin bubble may have burstThe price of Bitcoins has plunged more than 75% in the past two days, sparking a rush of activity that overwhelmed trading platforms and suggested the bubble in the virtual currency has burst. Bitcoins were down to $61.11 as of 9 a.m. ET Friday. Prices reached as high as $266 per Bitcoin around 7:30 a.m. ET Wednesday. But the price started to fall through the rest of day and Thursday morning. At about 10 a.m. ET Thursday, trading was halted on Mt.Gox, a Japan-based exchange that claims to handle 80% of Bitcoin trade worldwide. The price at that time was already at about $123, down more than 50% from the peak. Mt.Gox issued a statement Friday attributing both the pre-halt price fall and the halt in trading to the rush of new customers trying to trade in the electronic currency. "The rather astonishing amount of new accounts opened in the last few days...made a huge impact on the overall system that started to lag," the exchange said. "As expected in such situations, people started to panic, started to sell Bitcoin in mass...resulting in an increase of trade that ultimately froze the trade engine." The exchange said the shutdown was different from the cyber attacks that hit it and other Bitcoin sites earlier this month. During the Mt.Gox trading halt, trading continued on some smaller Bitcoin markets, and the price fell sharply. When trading resumed on Mt.Gox about 10 p.m. ET, the price quickly plunged as low as $69.45, ricocheted back up to $135.69, then started to fall again. All the new volume flooding back to Mt.Gox caused another 2-hour halt in trading. When trading resumed again, it started a less volatile sell-off to the $61.11 price. Societe Generale currency analyst Sebastien Galy said that even if the bubble has burst for Bitcoins, it doesn't mean it won't have additional rallies in the future. "Its trading is typical of a bubble," he said. "But there are still people who believe in it. You can't say we're going to zero tomorrow. Even assets that have no underlying value have people willing to trade in it." Galy points out that even the prices Friday morning were highly inflated from historical valuations. In mid-March a Bitcoin was worth only $47. He said what's so unusual about the Bitcoin bubble is how quickly it formed and how fast it may now disappear. Bitcoin is a four-year-old digital currency developed by a hacker who still remains anonymous. It's designed to allow worldwide payments with extremely low processing costs. Galy said the wild rise in price moves in recent weeks undermines Bitcoin's original purpose. "If their intent was to have a means of exchange, then they failed spectacularly," he said. "If we go back to values that are more normal, then the original thought process behind it can take hold again." http://finance.yahoo.com/news/bitcoin-bubble-may-burst-121100786.html That is why I rushed to buy today. Only Bitinstant again has spoiled it for me. If they honor their prices like they say they do then there could be light at the end of the tunnel because today I ordered when it was $77 according to mtGox (to me this is a good deal), and over a week ago I ordered when it was still under $120, I don't remember exactly what the figure was but it was over $100 but under $120. Either way these are good deals. |
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I tried Bitinstant again today. Still doesn't work. I'm not going to be using Bitinstant anymore.
Now I'm owed x2 $503 worth of Bitcoin.
Anyway this time I made sure to take down all the information so here are the notes.
Quote ID
839b4c21-677a-4634-905d-8930f3686f35
Event ID
54e171f8-a6b9-43d4-af4f-74fa5c4d8bc2
Quote valid until
Fri Apr 12 15:44:29 2013
Fees (Not inclusive of ZipZap)
3.99%%
Amount you need to pay
$500.0 USD
Amount you will receive
$480.05 USD
Expected delivery time(HH:MM:SS)
0:30:00
Guaranteed delivery time (HH:MM:SS)
1 day, 0:00:00
Destination exchange
Bitcoin Address
So according to the delivery time there is a guaranteed delivery time of 1 day. I'll see what happens in 24 hours. I'm just posting it here because usually when it works it's instantaneous and when it doesn't work it doesn't work at all.
480/77=6.2BTC owed.
And I don't even know how much BTC I'm owed from weeks ago because I don't remember the prices from back then.
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If you're getting into GPG auth ect, we already have this kind of decentralized exchange it's called bitcoin-otc
GnuNet is the only candidate for such an endeavor and it still is prone to different kinds of ddos they're working out. For instance you can flood a peer til they disconnect and then impersonate them. Not good for an exchange unless you had cryptosigning, and if you're going to go that route why not just use IRC what's the difference. If you're competent enough to do multisig and pgp signing then you can use bitcoin-otc.
It would be trivial to write an application that plugs into #bitcoin-otc and allows you to authenticate with the bot easily instead of reinventing the wheel. The app can list the order book and check for gpg identify or make gpg identify easy for total idiots
Or, run Open Transactions inside Gnunet. Great success
IRC would be rather limited because most people aren't going to want to use IRC. That is the main problem with that but also it's got it's own problems as well. I have no idea how we can prevent high frequency trading but I suspect that we suffered a flash crash due to high frequency algorithmic traders entering. I think Wallstreet finally took Bitcoin seriously this week and the professionals entered the market with their statistical pair trading and other esoteric algorithms. I guess one of the requirements for the protocol design would have to be a mechanism to protect Bitcoin exchanges from high frequency trading and market manipulation. Just assume Wallstreet insiders want to kill Bitcoin and control the market and what can be done to stop it? Gollum I hope your solution works. It sounds very simple but if it works it works. Order matching every block, it sounds like it could work or at least be part of a solution. This is the advantages algos have in the regular stock exchanges: Physical AdvantageThe stock exchange servers are physically located in one or a few server facilities in the same city. Owners of the HFT-machines wants to be physically close the the stock exchange, every meter closer to the exchange server is an advantage. When the exchange is decentralized, the current matchmaking could be done 100 meters from the HFT or it could be 10 000 miles from the HFT - the randomness creates unpredictable ping time to the exchange. Order book AdvantageThe order book of regular stock exchange follows a set of rules that can be used to the advantage of algos, the stock exchanges are also executing orders so fast that the algos can make lot of trading before a human even has reacted to a price change on the screen and clicks the mouse to buy/sell. When we got blocks of 10-second execution in combination with random order book matching it is a more fair play between algos and humans. It dont matter if you put your order first or last to buy 1000 BTC at 53$, randomness decides if you are the first to get filled. This sounds like it could work. I also think retroshare has potential. At least we can borrow code from it and solutions if those solutions are proven to work. |
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If you're getting into GPG auth ect, we already have this kind of decentralized exchange it's called bitcoin-otc
GnuNet is the only candidate for such an endeavor and it still is prone to different kinds of ddos they're working out. For instance you can flood a peer til they disconnect and then impersonate them. Not good for an exchange unless you had cryptosigning, and if you're going to go that route why not just use IRC what's the difference. If you're competent enough to do multisig and pgp signing then you can use bitcoin-otc.
It would be trivial to write an application that plugs into #bitcoin-otc and allows you to authenticate with the bot easily instead of reinventing the wheel. The app can list the order book and check for gpg identify or make gpg identify easy for total idiots
Or, run Open Transactions inside Gnunet. Great success
IRC would be rather limited because most people aren't going to want to use IRC. That is the main problem with that but also it's got it's own problems as well. I have no idea how we can prevent high frequency trading but I suspect that we suffered a flash crash due to high frequency algorithmic traders entering. I think Wallstreet finally took Bitcoin seriously this week and the professionals entered the market with their statistical pair trading and other esoteric algorithms. I guess one of the requirements for the protocol design would have to be a mechanism to protect Bitcoin exchanges from high frequency trading and market manipulation. Just assume Wallstreet insiders want to kill Bitcoin and control the market and what can be done to stop it? Gollum I hope your solution works. It sounds very simple but if it works it works. Order matching every block, it sounds like it could work or at least be part of a solution. GNU Net has an interesting paper http://secushare.org/2011-FSW-Scalability-ParanoiaDon't know if it would work with Bitcoin for the exchanges or how you'd put Open-Transactions on top of GNUnet. So what if the exchange protocol could be a chrome/firefox extension? Would this be simple enough? I will get some sleep and maybe someone smarter than me will solve these problems. |
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Just look at Bitinstant. Butterflylabs. All these companies doing exactly your method and look at the results? I don't want anymore amateurware but that is just me.
Enough words about this. I look forward to your perfect P2P exchange that runs without flaws from day one, has all the features people could want from day one, and won't have any scaling issues. In the meantime I'm going to look if I can concretely support some project. Sayonera. John even if we create a totally fucked up p2p exchange Im sure we cannot fail worse than MtGox The concept that saves us is the p2p-protocol - at least our system will be less harmed by DDOS than the tradition bitcoin exchanges. It might be immune to DDOS because it's decentralized but then we still have to worry about timing attacks, possibly bots with algorithms designed to game the system. It's distributed but then would it be vulnerable to botnets now that it's distributed? How can we verify each node in the network isn't a zombie node or part of a dark pool to manipulate the network and how would we detect certain patterns or at least design the system to be modular enough that the protocol can continually update it's defenses via plugins or extensions? I fear if anything is thrown together without much thought about design that the hackers could find flaws in the distributed design. The three main concerns are establishing trust, detecting malicious trade behavior or patterns and limiting the damage, and knowing for certain that every node is who they say they are. Digital signatures via GPG/PGP can allow for a web of trust and can allow you to know each node is who they say they are. A system where I vouch for you, someone vouched for me, and we all are continuously reviewed can produce a web of trust (just off the top of my head). It still doesn't prevent a team of hackers from conducting malicious trade behavior and I'm not an expert on trading platforms of the possible attacks against them. I just know when we looked at what happened with mtGox we saw all kinds of unexplained trading behavior that didn't look just like a panic sell but looked algorithmic and coordinated. It didn't look very natural, and I don't know enough to know what natural trading behavior looks like. This is why we would at least need someone in here who is an experienced trader who has seen all the attacks that happen in Forex or Wallstreet and how those attacks have been defended against. The protocol would have to be modular enough that as new attacks are discovered a plugin can be written to manage or detect it similar to how Firefox and Chrome have extensions and the like. Scaling is important because if mtGox really did crash because of too many users and if Bitinstant really is forgetting to pay us our coins because of too much load then that scale and load is still going to be a problem if you decentralize it. |
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MtGox was not designed to scale up which is why they have lag. Just look at Napster, that was the initial design. They built it because it could be built at the time and it solved the problem but it didn't solve the problem in the best way so it got shut down, then we had to go through Kazaa, Bearshare, Limewire, and a bunch of other petty rip off protocols before we actually got to the well designed stuff like Bittorrent, Tor, I2P.
That's how innovation works. There is no way around it. It will suck in the beginning. People will find flaws in current systems, then improve on them, version after version, in smaller and bigger bursts. The constraint area hasn't been mapped yet, let alone that we can know how an "optimal solution" would work. A "design competition", especially with so many non-technical people, is not going to solve that. Who is a judge of what is going to work anyway? I am not saying that peer review is not good. It's good. That's why I posted links to current projects and collected some information. Why don't you peer-review bitcoinx and darkxchange? Criticize their mathematics? Do you think in war that they just design the cheapest crap without doing any R&D or running any simulation on the small scale as a test to see if it can scale up? They test for years. We don't have years, I'm saying let's at least do some R&D and not rush something out just to get something out and have it attract a bunch of users and then collapse under it's own weight. That might be fine for music and movie sharing but when people are trading thousands of dollars they wont have that patience. Just look at Bitinstant. Butterflylabs. All these companies doing exactly your method and look at the results? I don't want anymore amateurware but that is just me. |
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I've had an idea for a while for a new coin. Tradecoin. Which are basically vouchers for a p2p stock market. btc / ltc would be on such stock market and the buying, selling, shorting, calls, puts, spreads ect would all be escroed by the "miners". The "ticker" price for any exchange values would be calculated and verified by the network. Miners would be paid by arbitrage within the network and or trading fees. I would also write a tradecoin constitution which would spell out the rules in the case of blockchain fork or other software glitches. Namely that the block chain is a voting / verification principle and that in the case of failure a new system would be created and shares/coins from the old system would transfer over from the most recent and verified copy of the blockchain. I also would propose an anomymous voting system which should be robust enough to handle even political elections and still ensure one vote per person. Perhaps one vote per share of the given asset on the network
The problem of course is that even though I am a programmer I find such a system to be a daunting task and quite the responsibilty. I prepose an agreed apon "pre mine" as bounty for the system.
Why should we create another alt-coin? I suggest we use existing bitcoins to reward the exchange-miners. Tradecoin isn't a bad idea. Let tradecoin be part of the contest. Any idea should be considered and voted on. Tradecoin seems to be a high level abstraction layer protocol similar to devcoin and the like. The problem is if you can't buy coins at all due to the exchanges being centralized and hacked what good is tradecoin? |
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Guys, the forum is overflowing with topics that initiate a p2p bitcoin exchange. I'm not kidding. Yesterday I investigated them all, and I chose help developing bitcoinx (2nd place was darkexchange, at a distance). You can do your research and you'd probably end up joining bitcoinx as well . See user killerstorm, project armoryx, project bitcoinx. Interesting, thanks for the links! I wasn't aware of any projects actually in development. It has gotten lost in all the theorizing and arguing noise. Links: - bitcoinx: http://www.bitcoinx.org/ ... has protocol description and even a download, but where is the source code? When I click join, it says "Register with your Google account". Uh, no. - darkxchange: https://github.com/macourtney/Dark-Exchange "Dark Exchange is a distributed p2p exchange for bitcoin.". Uses the I2P network, https://en.bitcoin.it/wiki/Dark_Exchange . I think for this it might be better to start from scratch. Sure if portions of their code is well done and useful then use it, but where is their code so we can peer review it? And even with their code it doesn't mean their designs are going to solve all the problems. We need the perfect design first, then ANYONE can write the code. The protocol design is the key, and the underlying algorithms are what make a program efficient. And that is something I admit I'm not very good at, and few people actually are. Satoshi happened to be one of the people who is good at that, how do we find the next Satoshi? I suggest a design contest. Big plus++++ Design contest is the next logical step. Lets get that step going today. Seriously, today. What would it take? I'm not a techie. What's the best collaborative platform to use here? This is a good collaboration tool right now. I can update the github readme file according to the consensus in this thread. I've given it further thought, we should do it where there are individuals/teams. We classify the teams with code names, like the red team, the blue team, or the viper team, or the chariot team, or whatever they want to call their team. We let each team come up with their own protocol but we as a community come up with the list of problems we want solved. We list those problems in plain English and the contest is about who can come up with the BEST solutions to these problems, the most efficient, user friendly, scaleable, etc. As a community we can vote on the teams, reward the teams with points, etc. All of that could be done here and it can be tournament style or contest style. As far as what happens after that, once the winning team is found then we come up with a to-do list of what needs to be coded. We connect to each other via the app like astrid for instance. http://astrid.com/ Astrid allows individuals and teams to share lists. That could be to-do lists or task lists or whatever. Beyond that github. Once a design is chosen then if people really want to save Bitcoin then they just have to code around that already designed protocol and follow certain rules in their coding so that it's well documented, and so well written etc. |
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Guys, the forum is overflowing with topics that initiate a p2p bitcoin exchange. I'm not kidding. Yesterday I investigated them all, and I chose help developing bitcoinx (2nd place was darkexchange, at a distance). You can do your research and you'd probably end up joining bitcoinx as well . See user killerstorm, project armoryx, project bitcoinx. Interesting, thanks for the links! I wasn't aware of any projects actually in development. It has gotten lost in all the theorizing and arguing noise. Links: - bitcoinx: http://www.bitcoinx.org/ ... has protocol description and even a download, but where is the source code? When I click join, it says "Register with your Google account". Uh, no. - darkxchange: https://github.com/macourtney/Dark-Exchange "Dark Exchange is a distributed p2p exchange for bitcoin.". Uses the I2P network, https://en.bitcoin.it/wiki/Dark_Exchange . I think for this it might be better to start from scratch. Sure if portions of their code is well done and useful then use it, but where is their code so we can peer review it? And even with their code it doesn't mean their designs are going to solve all the problems. We need the perfect design first, then ANYONE can write the code. The protocol design is the key, and the underlying algorithms are what make a program efficient. And that is something I admit I'm not very good at, and few people actually are. Satoshi happened to be one of the people who is good at that, how do we find the next Satoshi? I suggest a design contest. Big plus++++ Design contest is the next logical step. Lets get that step going today. Seriously, today. What would it take? I'm not a techie. What's the best collaborative platform to use here? The simple way to do it is at Reddit or on a site like this. You have a contest where people post their designs in different threads. Then later on in the week or at the end of the week after the community has had time to discuss and review each design you have a poll where we vote on which design we think is best. The designer or team of designers who came up with that design should get the reward. The only difficulty would be having a system where people can pledge a portion of Bitcoin, I don't know if that even exists yet. But even if it doesn't exists it's still a good idea to have the contest whether there is a reward or not because these things need peer review and no amateurish solution is good enough in my opinion for something this important. |
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And even with their code it doesn't mean their designs are going to solve all the problems. We need the perfect design first, then ANYONE can write the code.
Years of experience with open source has made my way of working is 100% opposed to yours. Sure, only fools rush in, but I usually like to figure out the basics then have something working first, then in time make it better. You will never have a "perfect design". What do you think would have happened when Satoshi first argued for years about a perfect design? There would still be nothing but an academic project. It's a myth that ANYONE can (or will) write the code. And even when starting completely from scratch you need to learn about the previous projects first, even if only to know why they failed. Edit: I updated my post above to reflect all the github repositories etc, should be more complete now. mtGox is broken right now because they didn't properly design their code base. They relied on a flawed design because they didn't actually re-engineer or rethink everything. Academic projects are useful for coming up with basic prototype designs. The design is extremely important when you want something to scale up without breaking down for instance. MtGox was not designed to scale up which is why they have lag. Just look at Napster, that was the initial design. They built it because it could be built at the time and it solved the problem but it didn't solve the problem in the best way so it got shut down, then we had to go through Kazaa, Bearshare, Limewire, and a bunch of other petty rip off protocols before we actually got to the well designed stuff like Bittorrent, Tor, I2P. All the while Freenet was in the background being worked on since 2000 around the same time as Napster but it didn't stop people from copying Napsters weak design over and over and all of them getting shut down and all their users having to switch from service to service. That is what I want to have avoided. If it takes a design contest which lasts a week to avoid years of that then so be it. If you don't want to go the academic route you don't have to, but why should we believe your design is better than any other if it's not going to be peer reviewed either on this forum or at some academic journal? If you're afraid of peer review then build it yourself but don't expect people to join in if we don't know the mathematics are sound, that the algorithms will work, that the solutions are scaleable, that it's actually decentralized and not easily attacked etc. |
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Guys, the forum is overflowing with topics that initiate a p2p bitcoin exchange. I'm not kidding. Yesterday I investigated them all, and I chose help developing bitcoinx (2nd place was darkexchange, at a distance). You can do your research and you'd probably end up joining bitcoinx as well . See user killerstorm, project armoryx, project bitcoinx. Interesting, thanks for the links! I wasn't aware of any projects actually in development. It has gotten lost in all the theorizing and arguing noise. Links: - bitcoinx: http://www.bitcoinx.org/ ... has protocol description and even a download, but where is the source code? When I click join, it says "Register with your Google account". Uh, no. - darkxchange: https://github.com/macourtney/Dark-Exchange "Dark Exchange is a distributed p2p exchange for bitcoin.". Uses the I2P network, https://en.bitcoin.it/wiki/Dark_Exchange . I think for this it might be better to start from scratch. Sure if portions of their code is well done and useful then use it, but where is their code so we can peer review it? And even with their code it doesn't mean their designs are going to solve all the problems. We need the perfect design first, then ANYONE can write the code. The protocol design is the key, and the underlying algorithms are what make a program efficient. And that is something I admit I'm not very good at, and few people actually are. Satoshi happened to be one of the people who is good at that, how do we find the next Satoshi? I suggest a design contest. |
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You know, it could be done via sneakernet even but the point is I think we need to start with a Wiki of some sort. We need to have a design contest. Something like design the best open distributed exchange protocol and win X amount in Bitcoin. If there is no current way to even do these sorts of contests then we need a way to reliably reward people in Bitcoin who come up with brilliant designs and solutions. The way to avoid having to redesign or avoid embarrassment is to do it right the first try and the way to do that is to hold contests and have peer review. So let's start with a big contest which lasts perhaps a week or a couple weeks and then see who wins and the winner of that contest should be the person who designs the protocol. |
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