I think BMOT just provided all the things we need A P2P Distributed Exchange MUST:- 1. Be without any central points of failure, since a government or two WILL be coming after it one day. I suggest a
Bitorrent-like software schematic.
That would be BitMessage - 2. Show everyone a very large number of possible trades to choose from, (thousands?) so assets can form a stable price. (e.g. a Bitcoin is going for $120)
BitMessage again. Just have a protocol (formatted message) that gets sent and updated with current piice orderbook, which is "broadcasted" to all the listening nodes same as BitMessage mailing list messages are now. - 3. Transact trades pretty much INSTANTANEOUSLY, so when you're watching a graph and want to trade at a very specific time you can do so. (This is extremely important for arbitragers and other traders who help keep the price fluctuation down.)
Not possible directly, since it will take time to transfer fiat between two people, but can be done instantly with OpenTransactions if money is deposited with a trusted escrow and OT contract issued against it. You would be trading fiat-backed contracts. - 4. Offer Graphs and APIs for for graphing like MtGox does.
Extremely easy if the entire orderbook is broadcast through BitMessage and is constantly updated - 5. Have three-user (trustless) trading, so a non-interested 3rd party always hosts the trade between the buyer and seller. (And should provide Escrow too!)
OpenTransactions again. That's specifically what it's good for. - 6. Hold and transfer VALUE, not just IOUs. (With Cryptocurrency this is easy... With fiat? Not so much.)
It would be fiat-backed contracts and actual BTC. I guess the contracts are still IOUs or sorts, but I doubt we'll be able to plug anything like this into a bank, since they would get shut down instantly for violating KYC/AML |
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It's not OP, it's OT......
It's 2:30am. I'm so excited by this I can't sleep. Or apparently think straight  AFAIK it's not stritcly personal, you need a transaction server, or as OP proposed, something backed by a multi-sig escrowed Bitcoin address with enough reserve which many people act as escrowers, so another user can withdraw his cash(a blind token) and give it to you, to allow you to withdraw from this big money pool.
Can't users run their own servers to issue their own IOUs, too? |
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So, if I understand this correctly...
Bitcoin turns the whole internet into your personal checking/savings account, while BT+OT turns the whole internet into your personal clearinghouse and loan settlement network
Or, said another way:
You use Bitcoin like an equity network, i.e. to store, transmit, and settle value, and BT+OT like a liability network, i.e. to store, transmit, and settle debt.
Is this right?
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+1 I think ripple would have more to worry about this than paid "It's a Scam" accusations. I wonder what Ripple thinks about this new merger? |
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what's interesting is that in the Angels Meeting on Sunday i brought up BitMessage as an investment idea. i've been following them for a while and planning on trying it out but wanted to get more feedback from users. i think they have a brilliant idea as pgp is too hard for most ppl.
anyone have some good experiences?
Yes. I have been using them for a few weeks, and they seem to be very actively developed, with bugs patched and new features released very quickly. The actual development discussion goes on through BitMessage itself on their general mailing list. It's still missing some features (like organizing messages by sent-date as opposed to when you downloaded them), but it's very very promising. Had a large influx of Chinese users recently, too  DiThi is planning on using the code for messages within his SecondLife-like virtual world, too, and I imagine it can be adopted for other games and services as well. It's basically a decentralized, serverless, encrypted, private/anonymous P2P messaging system for everything. |
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Duuuuude! Holy shit! I only got OP when you explained it to me at the Tradehill thing, but this just takes it to a whole other level! Doesn't this basically allow for "Ripple," but in a fully decentralized way, and without XRP?
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No I didn't. This was discussed after the whitepaper, too. I just don't have time to look for it.
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You know, you two, (wdmw, FenixRD) I'm still waiting on your round 4 responses.
Shit sorry... got so carried away with delusions of Alliance grandeur I forgot to send a PM Sending now. You know, I'm getting your PMs way after I make my pick. I'm already planning my moves two or three ahead, so I vote on my position almost right away. So, um, just saying to take you down a peg. Lol. Easy big fella. I like you. You have ethics (even if you experiment counter to them) and you have a lot more time on this forum than I do. My comment regarding "delusions of Alliance grandeur" was meant to be self-deprecating. I don't take myself very seriously, so, I'd request that you consider doing the same! (Regarding me. Don't take ME seriously. Take yourself as seriously as you wish.) Don't take me seriously either. There was supposed to be a after the "peg." |
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the meaning of your other statement is unusual, other than people working on mining are worthless and will be replaced. But maybe you didn't mean that.
I didn't mean they were worthless. Just that mining will become more and more specialized, and storing the blockchain even more so, but that's OK, because a lot of the peer to peer stuff is done on the clients who can keep miners and blockchains honest by constantly comparing them. |
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Met a guy behind Open Transactons at a party this past weekend. The way he explained it, it looks like OP can do everything Ripple can, and the code is already done and opensource... Think that may help fr this in any way?
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OP can't be serious if he says he was talking at the conference but the identity of his "political zone" is still a mystery.
I'm pretty sure someone said it's Nicaragua I said it. And I didn't say it, I asked if it was. |
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I am. There are a few mailing lists on it, with people posting stuff regularly (including one with NSFW girl pics). They are adding new features all the time, such as encryption for public broadcasts (mailing lists), and options to set your own proof of work difficulty. Plus there has been a surge of new downloads from China.
Care to list the mailing list addresses you know about and what they are? Thanks. Just want to add that addresses with [General] or other things in the square brackets are the names of the mailing lists you can subscribe to. |
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So, should we start petitioning to have Bitcoin be accepted as a religion, so that it can have tax-free status? The Scientologists managed to get it...
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One thought I had: Would I qualify to be on the BlueSeed ship if my venture was high-tech tourism? Specifically, I rent out 4 rooms, advertise visiting the most high tech and way out there vacation, and sublet those 4 rooms to tourists, with me just providing the advertising, managing the bookings, and handling hotel service type things?  |
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Finally, someone I respect discussing the subject.
 Wait, are you saying you don't appreciate Meni Rosenfeld because he doesn't focus his attention on the client side of Bitcoin? I'm confused? No, I'm saying www.youtube.com/watch?v=Iwu-6GxBHN4 |
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Finally, someone I respect discussing the subject.
Regarding Peer to Peer, I always thought the part relating to verifying and relaying transactions was the peer-to-peer aspect, with things like mining and storing the blockchain being much less so. Satoshi himself mentioned that eventually we'll likely end up with just a few copies of the blockchain in gigantic data centers, with almost everyone running SPV clients that, although don't mine, still check transactions for validity, still relay them, and can still check the integrity of the blockchain database and compare it between providers to make sure it's legit. |
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Oh, yeah, sorry, forgot to mention, this went out on Sunday, too: http://www.equineangelsrescue.comHi.
Short version:
Our organization will pay you $1,000 if you agree to add a Bitcoin donation option next to your PayPal button. We'll even help you set it up.
Long version:
I represent the Bitcoin100 charity fundraiser organization. Our goal is to spread awareness of the benefits of Bitcoin, especially for charities. Using one of our partners BitPay, you can set up a simple PayPal-like donation option that accepts Bitcoins, and through BitPay the money is instantly converted to USD and deposited to your account. The benefits are 0 fees, getting the money the same day, and no issues with fraud or chargebacks (i.e. donations received from stolen credit cards, which get pulled back once the theft is found out).
Our organization consists of 100+ people who have pledged to donate money to any charity organization that adds a Bitcoin donation option to their site. So, in exchange for letting us help you set up the donation option, we will also make the first donation of $1,000.
Please let me know if you would be interested.
Thank you.
P.S. I will also be attending AnthroCon later this Summer, so will be able to answer any questions
And just to iterate, right now we need charity contacts more than we need donations. |
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Ok, that had some new info in it for me. Bruno stepped down and you inherited Bitcoin100? You are now in charge of the company direction and funds? Not that it's a bad thing - just wondering.
Correct. At least until if I can find somebody to delegate some of the positions to. This thing has been sitting on its butt and not using its resources for too long, and me being in the position of "I am just a treasurer" I haven't really been motivated to do much with it. Now I'll be working as if it's my thing that I have full responsibility for. Until I see someone more motivated and still trustworthy. I'll still keep all accounts and communications public on here. |
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One of the booths at the conference was with three nonprofits, who have organized to try to get other nonprofits to accept bitcoins as well. They have never heard of us, and were very glad to hear that we exist, do the same thing they do (or try to), and have the perk that we provide (sending money). They were very interested in working together with us. Stephanie is the contact for fr33aid.com that I talked to, who interviewed me for their podcast. I sent this to her just now. Hi Stephanie! It was nice meeting you guys at the conference. I hope our two organizations can work well together, since we have the same goals. Our site http://Bitcoin100.org was fixed, so you can point people to it. I believe I have someone who is willing to help fix it up for us, too. Do you know when your podcast will be available? I'd like to listen to it (hope I sounded OK). Also, the previous person in charge stepped down, so now I'm the CEO in charge, as well as the treasurer. https://bitcointalk.org/index.php?topic=52543.msg2223880#msg2223880Feel free to refer any questions to me. Hope to hear from you soon. -- Rassah |
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