Latest posts of: CIYAM

Quote from: sidhujag on February 28, 2015, 05:07:14 PM

Right.. But 51% participation in a conspiracy is highly unlikely... As it is easy to unvote these guys and have another standy delegate take their place if someone with morals finds out... Worsed case you dont need a hard fork like with bitcoin

It only takes one such event to destroy all confidence in the platform (and social manipulation is always going to win over algorithm manipulation).

Quote from: Come-from-Beyond on February 28, 2015, 05:06:18 PM

It's the same what stops people from doing a revolution. If the majority collude then they can change the state of things, but if they don't know how many of others support the movement they have to follow the rules or be penalized.

When there are huge amounts to be gained then I am pretty sure you'll get the collusion required to gain that (this concept is not using the PoW approach so it isn't like that at all).

Quote from: sidhujag on February 28, 2015, 05:02:38 PM

They are voted in.. Top 101 become delegates and get paid for it... Mostly developers right now. Part of the delegates job is to host full node in signing mode and publish price feeds. In effect its alot more decenteralized than mining pools.

But it is not truly decentralised at all - so it is really not safe against a conspiracy - is it?

My main issue is that it is a "trust system" which is exactly the opposite of what the blockchain invention is all about.

Quote from: Come-from-Beyond on February 28, 2015, 04:58:07 PM

It's the same what stops from attacking a city by byzantine generals. If not all of them (or majority in case of prediction markets) agree on a particular day for the attack then the participants will lose the battle.

I think you are confusing the very point of the consensus mechanism with something that apparently depends upon Oracles (read the last post).

Quote from: sidhujag on February 28, 2015, 04:57:19 PM

Bitusd is not based on pm vitalik buterin pretty much proved it would break when applied to a constant peg.. Bitusd uses oracles to publish feeds and applies rules to short and long within a 10% band for short term volatility

So it is not decentralised at all but relies upon centralised *oracles* - and who decides who those are?

Quote from: Come-from-Beyond on February 28, 2015, 04:51:35 PM

No, these prediction markets don't use Bitcoin.

Then what exactly stops them from being manipulated (a theory won't do it - as we are talking about actual funds to corrupt it)?

Quote from: Come-from-Beyond on February 28, 2015, 04:45:43 PM

It's regulated by laws of Game Theory. Bitcoin mining has been proving for 6 years that it's better to keep extending the longest branch of blocks. Despite of the fact that Selfish Mining would let to earn more bitcoins.

That applies to Bitcoin mining but does not apply to "prediction markets" (so the two things are not the same).

Cheating Bitcoin requires a lot of effort (i.e. >50% control of the network) but cheating on a prediction market (that isn't working just like Bitcoin) does not.

Are you saying that these prediction markets are using Bitcoin (as I have seen no evidence of that in regards to BitShares)?

Quote from: Come-from-Beyond on February 28, 2015, 04:38:22 PM

PS: We could talk about prediction markets in general though.

Lets do that - I challenge that the very idea is basically nothing better than a ponzi scheme.

With zero regulation there is no reason for any party to "honestly" do anything (it is just a new way to relieve stupid people of their money).

Quote from: Come-from-Beyond on February 28, 2015, 04:30:08 PM

Candies can be replaced with anything. We could be caught by the police while smoking weed and be forced to explain where we got it from. If we want to get less years in prison then we have to tell the truth. If we lie we can't provide identical details and hence we can't convince the prosecutor that we want to become law abiding citizens.

So how on earth does that relate to having BitUSD?

Saying that we decided to "short" it should somehow land us in prison (when there are no laws even covering such an idea)?

It seems people supporting this want to "go outside of the law" (as selling such things are) and then try and cling to the law when it all goes belly up.

People peddling this stuff should realise that the law is not going to back you or protect you (i.e. best to move to some country that doesn't care about such schemes).

Quote from: Come-from-Beyond on February 28, 2015, 04:21:40 PM

The candies are irrelevant, the point is to tell the truth (to publish the correct outcome of a prediction). You expect others to do the same for mutual benefit of all participants.

If the candies are irrelevant then why do we have candies (so you need to rephrase your argument without candies then)?

Quote from: pabitel on February 28, 2015, 04:20:48 PM

It should be noted that Coinbase will start charging fees after March 30 (https://support.coinbase.com/customer/portal/articles/1826608-what-are-the-fees-for-using-coinbase-exchange-).

The main asian exchanges don't charge commissions (and I don't think that is going to change any time soon).

Quote from: gentlemand on February 28, 2015, 04:14:22 PM

They can front run their customers and sell back to them.

Yes - that is probably the main method used.

Quote from: Come-from-Beyond on February 28, 2015, 04:10:53 PM

If you version and mine will be the same then she will believe that someone else ate all the candies.

But the candies got eaten all the same (so who actually cares why?).

If the candies are gone then everyone just lost (it doesn't matter who is to blame especially when they are anonymous and there is no way to ever get back the candies).

It is no different to believing in a "ponzi scheme" (of course we didn't *know* that pirateat40 was actually running a ponzi scheme - but so what?).

Quote from: Come-from-Beyond on February 28, 2015, 03:52:03 PM

http://lesswrong.com/lw/dc7/nash_equilibria_and_schelling_points/

Far too complicated - so - now try and explain it in simple terms (if you can't then I would just say you have posted a useless link to some game theory math stuff which is what I'd expect from people trying to "con others").

(i.e. you did *exactly* what I asked poster's not to do)

Quote from: Slunt on February 28, 2015, 03:47:40 PM

Maybe they're all ponzi schemes? Grin

They might make money from adverts like faucets do. They'll surely get a lot of hits.

You'll notice that the majority of trades done on the platforms that have 0% fees are done by robots.

The owners of the exchange create their own robots that can trade faster than anyone else (by running from the same server or data center).

This is how they can "afford" to offer zero trading fees (the same sort of corruption that happens with high speed trading in stock exchanges).

To me the idea that "just because we label something as USD automatically now ties it to the value of the USD" is about as retarded as you can get.

Yet this is the very basis of these "prediction markets" that are sitting on some of the latest crypto platforms.

Let's see if anyone can actually really explain how this is supposed to work without resorting to anything complicated (as in don't try and pull the wool over everyone's eyes like the CDS stuff that blew up in 2009).

Quote from: Cablez on February 28, 2015, 03:18:34 PM

He is talking about being a donator in order to change your username.

I changed my user name - and it cost me nothing (just a request to @theymos).

So I am not sure exactly the point (apart from that you can change your username without requesting a mod to do so if you have that status).

Quote from: rpietila on February 28, 2015, 10:12:16 AM

...and changing the name in the forum costs $2,500?

Sorry but in what forum does it cost $2,500 to change your user name?

Quote from: Elmit on February 28, 2015, 11:19:24 AM

I downloaded the ATAssembler.
Where can I find documentation how to use it? (Linux)

The first thing would be to make sure is that you have Scala installed: http://www.scala-lang.org/download/install.html (might be helpful).

Quote from: equipoise on February 28, 2015, 10:13:18 AM

^Here's what you need: https://bitcointalk.org/index.php?topic=949438.0

If you want to post questions then use this topic instead: https://bitcointalk.org/index.php?topic=966622.0

(the other topic ended up being moved to the alts board which was not very helpful so I locked it)