You could also add Open Transactions to that list. Which other projects seem to be moving faster?
I have a fair portion of MSC, but it seems like NXT is winning the race right now in terms of hype and development. With it still being closed source, I'd say they're far behind. What does the client look like right now? I don't want to test it out until it's open source. |
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Right now, I think there is 5 different names competing in this space right now
Mastercoin
NXT
Colored Coins
Bitshares
eMunie
Out of all of them, Mastercoin has the biggest amount of capital to work with, but some others seem to have faster development
You could also add Open Transactions to that list. Which other projects seem to be moving faster? |
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I have a question when it comes to the decentralized exchange. How fast will it be? I must be misunderstanding the protocol because the way I have read about Mastercoin makes me think that trades will only be possible with each bitcoin confirmation (roughly every ten minutes). So will the decentralized exchange work like the exchanges that we are used to today with instant trade execution?
Edit: Watching a presentation from Ron Gross on Mastercoin right now and he talked about how the trades will be happening every 10 minutes.
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Perhaps we should contact Paul Krugman to see if he is available to be the controller of the block reward?
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Thank you for creating a sophisticated alternative to Bitcoin. How can we make sure that all the simpletons out there understand that Bernankoin is better for them?
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Mastercoin should definitely be included on coinmarketcap. It's a well-known project. The developers have been interviewed on multiple occasions on Let's Talk Bitcoin. It's been written about in Bitcoin Magazine.
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Yeah , that's the problem , what happens when both of them want their coins .
The mechanism might work but something smells , and It does quite badly.
Also having a bank , isn't that against bitcoiners principles ? Leaving your coins in the hand of a third party?
I don't think the point is to act as a traditional bank. The point is to offer the ability to invest in digicoin with less risk. If the depositors understand that they are having someone hold their money and are just making an investment, I still don't see the problem. The only problem I see is that they could eventually run out of digicoins to sell. Then again, they would be able to replenish their reserves once the options contracts ran out. |
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Yeah , that's the way central banks work  They aren't printing their own coins. People with DigitalCoins are depositing them into the bank. There is also nothing stopping other people from starting their own bank. If people are depositing them into the bank , how the hell do you sell those coins to somebody else? Btw. I'm starting to agree with you on this one: This is starting to hurt my brain. Bob deposits 100 digicoin into the bank. Alice buys those 100 digicoin for $100 (the market rate) +5% (so $105 total). The price of digicoin in dollars goes down, and Alice wants to return the 100 digicoins and exit her investment. Bob now has his original digicoins plus $5. In a situation where the price of digicoin in dollars goes up, I guess Bob just gets the benefit of selling at a rate 5% above the current market price. |
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Yeah , that's the way central banks work They aren't printing their own coins. People with DigitalCoins are depositing them into the bank. There is also nothing stopping other people from starting their own bank. |
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Yeah, giving away options for free sounds unsustainable. If the price drops, there's no way the "bank" could stay solvent..
It sounds unsustainable at first, yes. However, the bank is still solvent when the price drops. It is basically just a refund for the DigitalCoin that the customer bought. They don't do anything but sit on the funds the customer used to purchase the DigitalCoin until the option contract runs out.
See that "fixed rate". There you have the flaw. And as you suspected there is a really big one:).
I'm still not seeing it. See my response to 12648430. And how is the bank acquiring those coins in the first place? This is the piece of the puzzle. Because if the banks is getting the coins at 100 , John buys them at 200 , they drop to 50. They have to give John back 200 , and end up with a coin they paid 100 for which is valued at 50. And if they 'print' their own coins , then we have a central bank My understanding is that the bank gets the coins from depositors. They then get paid dividends on the transaction fees for their deposited coins. This is starting to hurt my brain. I don't think your example would lead to them going insolvent though. The total value of their assets has remained the same in terms of DigitalCoin, and they have earn money through the transaction fee. |
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Yeah, giving away options for free sounds unsustainable. If the price drops, there's no way the "bank" could stay solvent..
It sounds unsustainable at first, yes. However, the bank is still solvent when the price drops. It is basically just a refund for the DigitalCoin that the customer bought. They don't do anything but sit on the funds the customer used to purchase the DigitalCoin until the option contract runs out.
See that "fixed rate". There you have the flaw. And as you suspected there is a really big one:).
I'm still not seeing it. See my response to 12648430. |
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Info seen here: http://digitalcoin.co/forums/index.php/topic,4.0.htmlIt is time to announce the Free Bank of Digitalcoin, an initiative that aims to introduce a new concept to the crypto-world.
What is the FBD?
A community inspired and funded effort to further the usage of DGC as a store of value and monetary unit.
What services are provided?
The primary service will be hedging and profit enabling. FBD will allow people to purchase DGC at a fixed rate (set to match market price), and hold contracts that provide the option of selling back the DGC at purchase price. Deposits and withdrawals will initially be accepted in bitcoin, litecoin, and USD.
How is this useful to me?
The FBD will serve to lower investor risk in crypto-currency and allow simple, risk free cash flow into digitalcoin.
Example:
1. John Doe decides he wants to invest in digitalcoin but he can't handle downside risk.
2. J.D. contacts the FBD for a DGC quote.
3. J.D. purchases digitalcoin directly from the bank and is given the option to sell them back at purchase cost.
4. Now, if the price drops, J.D. can execute his option and sell back the coins at purchase price. If the market rises, he can sell his digitalcoin on the open market.
By removing liquidity uncertainty regarding DGC, the FBD will serve to promote and nurture digitalcoin growth.
I'm also still open to the idea that there is a large flaw in the logic of this kind of service, but I haven't been able to find it yet. It seems like it's basically a buy back option, but I don't see it as an option on any of the Bitcoin exchanges. |
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These may be dumb questions from a technical perspective, but I'm going to ask them anyway:
1) Would it be possible to alter Datacoin so that old files could be deleted when they are no longer needed? This could be effective for lowering the size of the blockchain.
2) Would it be possible it update files in the blockchain in the future? This would be useful for simple notepad-esque files where you just want to keep a Todo list or Evernote type files synced in the blockchain.
I'm really looking at Datacoin as a DAC for cloud storage. I know there has been mention of "personalized chains", but I'm not sure how those would possibly work. Would the same Datacoin/KB rates apply on these personalized chains? Would these personalized chains create a situation where Datacoins would be less valuable on those personalized chains?
Sorry for all the random questions. Just trying to see what will be possible with Datacoin. It seems like the best new coin around right now. I think any of the new coins that will be able to compete with Bitcoin will have to be DACs, and that's definitely the case with Datacoin.
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So how does this coin compare favorably to Protoshares and Mastercoin? It seems like it is going after the same idea.
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Any update on this? People still having trouble with deposits and withdrawals?
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I signed up for an account this morning, but I still haven't received an account activation email. Any help would be appreciated. Thanks.
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Not seeing a line for the Sounders/Timbers match in MLS. Seems rather odd since this is one of the biggest matches in any football league this weekend with a crowd near 70,000.
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You may want to notify your oddsmaker that the Tampa Bay Rays game is not showing up and the Indians game is showing up twice with different odds.
Thanks for the heads up, got rid of the double, just working on getting the rays game back in. I'm pretty sure the one you took down was just the Orioles/Rays game with the wrong team names attached to it. |
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You may want to notify your oddsmaker that the Tampa Bay Rays game is not showing up and the Indians game is showing up twice with different odds.
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Any chance of adding 2nd half odds in the future? Was thinking about placing a 2nd half bet on a WNBA game tonight, but you guys didn't have a line available. Thanks.
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