Introduction to Alt-childs! Being able to claim your percentage/stake of Bitcoin in a newborn altcoin.

The altcoin  miners can only insert blocks w/ the bitcoin addresses (and current balances) of bitcoiners claiming their
stake in the newborn altcoin in the header of the next block to be inserted in the newborn altcoin.
This is done by listening to the bitcoin ledger to check to any new claim and making as a protocol rule of the newborn altcoin that this data must be included in the headers of the next block.
Each bitcoin address can only claim their stake (corresponding to the percentage of Bitcoin they own) in the newborn
altcoin once! Once they do it, the percentage of bitcoins he has on that address is minted in altcoins
and those minted altcoins, will make him receive the exact same percentage he has of Bitcoin at that time in the newborn altcoin
as they are sent to the required altcoin address: that must be made public in the bitcoin blockchain as a public
message.
Such claim can only be done once, for each bitcoin address and its corresponding altcoin claiming address (that
is published as a message publicly on the bitcoin ledger by the claiming bitcoiner)!
(these will also be protocol rules!)

The sooner you claim the better for you as you will be an early adopter of the newborn altcoin.
You would be stupid not to claim your legitim stake in the new alt-bitcoinchild as soon as you get to know about it!

The only thing you loose in making the claim is the money you need to spend to pay for a message with your required
address to receive the new minted altcoins that - according to the protocol rules of these bitcoin alt-childs] you have
the right to claim.

-remotemass

Time machine that let's you go back with the two ideal minutes to buy/sell daily

Imagine I could go back in time to the past and were able to trade bitcoin without actually affecting the dynamics of it.
This is imaginary so let's suppose that my trading wouldn't affect dynamically the bitcoin market and that the prices would
still go up and down exactly as they did in the past years since bitcoin inception.
There would be a catch, my time machine would only allow me to carry one information: the best minute
in the day to buy if I was going to buy (with USD) every day at the same minute and the best minute to sell (for USD)
if I was going to do it systematically every day at that precise minute.
From then on my life would be simply selling all my bitcoins (for dollars) every day at a precise minute of the day, I mean at exactly the same time
every day, and then to buy as much bitcoins as I could (with those dollars) at the precise (minue of the day) time that would be maximizing my
profit.
My question is, if I could do these two trades every day at these two precise minutes of the day that would maximize my profit, given that
I would know what exact times I should use - if I had to use the same precise times every day for my two daily trading transactions - what would be
the two precise minutes, the one for buying and the one for selling that would maximize my profits, and how much bitcoins/dollars would I have today if I started trading since the first bitcoin exchange and initial price.

Actually would be fun to have a web app with an algorithm that would calculate and keep updating these values (best minute to buy, historically; best minute to sell; and accumulated balance) keeping a log so that you could go way back to find those values for any previous date and time.

Let's assume that you would start with one dollar ($1 USD). A web app could actually allow you to set the initial value and figure the resulting
final balance with that starting value.
Let's also assume that we get consensual on averaging the values for the bitcoin price on different exchanges and get therefore to base our calculations on the same averaged historical values!

[tl;dr]
Example:
before entering the time machine you are given one dollar and are told:
'buy bitcoins (with all your dollars) every day at 2.35pm (London time)
sell all your bitcoins (for dollars) every day at 9.47pm (London time).
Come back to this time and we expect you to have... this fabulous amount of: ... x? ... BTC/USD!'

Sounds really interesting.
But why 80%?
I mean, why 'from a minimum of 80% of all other "active nodes" '?

Sooner or later we will have to embrace "lie detectors" and "mind reading" technologies.
In the Age of Machines everything that moves will eventually be tracked all the time with GPS and RFID and that data will ultimately be made available to all using blockchain tech.
Right now, everyone is against that path but once everyone starts seeing the threat as if it were cancer we will have to say yes to it. It will be a matter of survival, on the level of planetary existetial risks.

https://www.reddit.com/r/Futurology/comments/3nxi7l/the_threat_of_emp_may_be_greater_than_you_think/cvsdaq2

Maybe we must think along the lines of: the more similar the two selfies in a pair were the more the ranking/reputation of the sender would go up and the less fees he would have to pay for the transaction.
In reality he would always be able to make transactions but if the receiver didn't do a selfie with him at the time of the transaction or the selfie was very different from his he would have to pay much more fees for that transaction.
Maybe miners would just be ranking how much percent the two selfies match.
Miners would like that selfies match has little as possible to receive higher fees, but on the other hand there would be an incentive for them to be as much accurate as possible in their judgement of how much each pair of selfies matched.
The closer the judgement of a miner was to the average/consensus of how much the two selfies in a pair were matching according to all miners, the higher would be the chances that that miner was rewarded by the mining lottery.

As I said, I'm just thinking. Nothing is really clear in my mind regarding this topic. Not at all. It is just us thinking...

When will we have the #SelfieCoin? Having to take a selfie with someone to send him/her coins

Since people love selfies so much, I wonder how nobody came yet with a cryptocurrency based on taking selfies to allow for a transaction.
How would it work?
Everytime you need to send someone some of those #SelfieCoin coins you would need to sync the app with your mate's one so that your smartphones would each fire a selfie at the same time.
The job of the miners would be two validate these two synched selfies originated from the two smartphones (sender and receiver of the transaction) and the corresponding transaction.
Also one random pair of selfies would be rewarded, with every block, so that the more selfies you took with different people the more chances you got of winning that mining jackpot.

I'm just thinking. It's not yet clear in my mind how would it actually work...


What do you think. Any ideas?
Will we all be taking selfies with strangers to get more chances of being rewarded by the #SelfieCoin lottery/mining?
Should the selfies show up in the #SelfieCoin blockchain with their GPS coordinates tagged/captured?

Also, you would know that all the money you lose will be going to buy products and services that you fancy, making them selling in bulk and so: pushing their price down.

30/October/2015,


Believe it or not, when I explain this new modality for the popular national loto games I am often asked how would I prevent the owners of the game from cheating.
I usually just say that independent auditing and security should be enforced at all times.
But actually there is an extra measure that could at least make 100% sure that those that are willing to prove that there is always more winning (in percentage) in this modality will not be cheated in their mission.
Simply, the machinery that physically covers the results from the covered extraction with a physical time-lock encapsulation is able to recognize the results from the extraction using its internal sensors and publish the most secure cryptographic hash of them appended by a random gibberish provided by players concatenated with a random gibberish provided internally concatenated with the hash of the next block from the bitcoin network that is added just after the covered extraction.

For example:
If the results from the covered extraction were, for instance, "[34,23,36,2,7]"
the internals of the physical covering machinery would publish to the outside:
Sha256("34 23 36 2 7" . Random_Gibberish_provided_by_players . Random_Gibberish_provided_internally . Next_Bitcoin_Block_Hash)

This would make sure that no one could alter the results so that they were not actually set in stone (pre-determined) as required since the exact moment of the covered extraction. Results could not come from a previous event and they would not be able to come from a later one.

Any comments?

Bitcoins actually only exist as balances associated with bitcoin addresses as a result of previous transactions.
To allow value to be split and combined, transactions contain multiple inputs and outputs.
The output values of previous transactions will be referenced as input values of future ones.
Previous transaction outputs are referenced as new transaction inputs and transactions simply allocate funds to a new owner that can then spend them in a new transaction.

But you don't actually transfer anything - not even in a virtual or digital sense: as information - as many people suggest!

Once the transaction is signed using your private key (that is actually the only thing that is being kept and got to be yours, simply, because you randomly picked the 256 bits that it is made of and generated, for that matter, a random bitcoin address computing the corresponding bitcoin address - that can be made public because the reverse computation is not possible - of that random 256 bits, that's it: you have a transaction and transfered your ownership.
And that happens entirely locally, in your bitcoin wallet, without any need for the network or the internet.

Now it will be just a matter of knowing if the transaction is validated/verified/accepted by the network/database:
entering the blockchain and becoming a permanent record for all, making your bitcoin address balance on the blockchain to be - implicitly, as a result of referenced transactions - reduced.
 
You have to make a clear distinction between signing transactions and broadcasting them.
You can broadcast them for instance using a web service like this, simply: https://blockchain.info/pushtx
But what makes the transfer of ownership of funds happen is, in a digital sense and in terms of information, at the level of signing.
Its broadcast - that could seem like some digital tokens or coded numbers being sent - is not actually anything of that sort. It is more like an order that is commanded from you and that the network/blockchain will have to decide authorize/accept/follow.

To sign a transaction you only need a private key and the destination bitcoin address. And when you sign a transaction you reveal your public address.

You can sign it with any bitcoin amounts that you want. But when you decide to broadcast it you will have the funds available, otherwise it will be rejected and you will have to try broadcasting it at another time, when you have funds for the transaction to be accepted. But as you see, nothing is transfered in terms of funds or tokens.

The only real information at sake is: the private keys and the signed transactions. Once the signed transactions enter the blockchain they will be irreversible and permanent, since the blocks that list those transactions are chained. And importantly, they will be sequenced in a specific - permanent - order, one after other, as if those transactions had a serial number to be listed. Actually you may list all transactions in a text file with a serial number, with the order they have on the blockchain and that is available as a public ledger.  
There is only that information to be able to make sense of who owns what in terms of balances/funds and to decide who is able or not to insert a new signed transaction able to be referenced and traced back.

If you want to work out the balance of any bitcoin address, the information isn’t held at that address; you must reconstruct it by looking at the blockchain.
And because bitcoins exist only as records of transactions, you can end up with many different transactions tied to a particular bitcoin address.
So the order they will have on the public ledger is very important and determinant.

Once you pick the 256 bits that a private key is made of you can use it as yours. Usually you will pick that randomly and create for that matter a randomly generated bitcoin address. Creating a bitcoin address is simply picking the 256 bits of a private key and computing its corresponding bitcoin address. The reverse cannot be done and so you will be able to use that as your private key and make its corresponding bitcoin address public.

Crowdbuying is quite simple.

1) You tell the crowdbuying platform which product or service you are interested in, pasting the link for it.
2) You send any amount of bitcoins.
3) For every satoshi you send you get +1 more chances of crowdbuying that item.
4) You can always come later and send more satoshis if the product price was not reached yet.
5) Once the required amount to buy that item is reached with the money that all crowdbuyers sent the platform waits for the next block (6 confirmations), buys the product and sends it to the winner.
6) The winner of the crowdbuy is picked using the /r/millionairemakers  formula:
{Latest_block_hash} % {Total_amount_Satoshis_sent_by_Crowd} = {n_Satoshi_Sent&WINNER}


I think this could get very popular. Sometimes you could be shopping and think: 'well, I don't want to buy it but I would like to get some chances of getting this by sending some satoshis...')


What do you think?

Every 10 minutes the latest bitcoin transactions between bitcoin addresses
enter the blockchain to become permanent on the history of bitcoin transactions.
All miners are trying to guess the solution to a puzzle that will allow the first one to solve it to insert the next block (basically, a list of transactions with a header) into the chain. The lucky miner that was able to guess the solution is rewarded.
In the first fours years, the reward was 50 BTC. So 50 BTC would be added to the number of BTC in circulation, every 10 minutes. Note that these bitcoins weren't "associated" with any bitcoin address. So they didn't exist! They come into existence from the infinite number of bitcoins that only exist in a potential form but never came into existence and become actual.
It is as if an infinite number of bitcoins already exist and will ever do; but will never become real.
From that infinite potential/void only 21 million will be allowed to enter circulation, in the limit.
And every four years the miners reward - that they will get if they win the mining "lottery" - is halved. So right now it is 25 BTC. Next halving 12.5 BTC. In the next 6.25 BTC... and so and so forth. Till the sum of all rewards that ever happened approaches the limit of 21 million.

The limit of 21 million bitcoins is hard coded in the distributed software implementation with a schedule and results from the accumulation of 50 bitcoins reward each ten minutes during the first four years(50x6x24x365x4=10 512 000), plus, half, 25 bitcoins reward each ten minutes during the following four years (5256 000+10 512 000= 15 768 000), plus, half, 12.5 bitcoins reward each ten minutes during the following four years (2 628 000+5 256 000+10 512 000=18 396 000)... and so on and so forth, till the reward of the four years before is so that it doesn't add nothing to the total of "almost" 21 million, more precisely: 20999999.97690000 BTC.

This protocol implementation results from a few lines of code in the distributed software, and everyone would have to agree to change it otherwise incompatibility would arise to anyone trying to change that.

Today is 21/OCT/2015
This is streaming live now:
Twitter Developers conference
https://twitterflight.com/livestream#main-hall

Engineer from Twitter/Periscope says she is big fan of bitcoin

To the question
3) Do you know anything about Twitter or Periscope in terms of integration with bitcoin? Is twitter a friend of bitcoin?
Do you think Twitter or Periscope would like to make bitcoin more successful in any way?

Sara Haider answered:
3) What sort of bitcoin integrations would you like to see? I am big fan of bitcoin.

See all conversation at:
https://www.producthunt.com/live/sara-haider

That's just denial. If you were really scientific you should rather say something like:
"I'm all up for it. Let's do it and see the results. We never know... Hell, let's do it!"
I don't understand you guys. This would be so simple to do. What are you afraid of?
Everyone would be talking a lot about the new National Loto modality. That means billions in terms of publicity. There is no way people would play less because of introducing this modality. People would actually play much more! Only the number of winners could be different but in terms of the House Edges that wouldn't matter at all. The House Edges would be exactly the same and people would be playing a lot more, which means better profits.

Anyway, I hope we will not have to wait for them and something from the world of cryptography will free us all.

With the help of Spirits working on a molecular level, for instance.
If you believe in the power of mind, there is no difficulty in seeing the possibility of guessing the covered results.
Actually, 'Uri GELLER' proved scientifically that this is possible, and the results were published in three of the most important scientific publications at that time, including Nature.
He proved scientifically that some people have psychic powers and can act over matter using only their minds without using suggestion or any kind of trickery.
Uri Geller can read minds. He has worked for the CIA doing 'Remote Viewing', and as proved there is such thing as ESP. This is 100% true and it pisses that nobody recognizes the man.

I am pretty sure that the implementation of "Time-Lock Encryption" systems will bring about the greatest disruption in gambling of all time.
See: https://web.archive.org/web/20181012114748/https://eprint.iacr.org/2015/478.pdf
Because gambling games can then become about guessing things that are already set in stone and that nobody without Mind or God powers can guess, And that is a very primal need in us all. To be more sure that there is or there is not God, there is or there is not such thing as Mind Powers.

I have been requesting for many years that we do the National Loto both as it is today and also with the tombola covered.
There would be two extractions:
1) The tombola is uncovered and the winners of the covered Loto are known.
2) The uncovered Loto extraction is done and the winners of it are known
3) The tombola is covered and the covered extraction is done and waits for 1)

What I say is simple:
I say that the percentage of winners in the covered Loto would be much more than that of the uncovered one.
Everything is the same. It is exactly the same game! But now the results will be set in stone days in advance and millions of people will be cooperating to guess them using Mind Powers. Think: prediction markets!

-remotemass

Earn money on short links:
https://shorte.st

Any service like this but with bitcoin?