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and what exactly does "free transaction limits" mean? what is the new transaction fee schedule?
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well, the really best way for newcomers will be bitcoingateway.com, once it's back up and running and accepting CC payments. most newcomers will be just as unfamiliar with liqpay as with LR and friends.
in the meantime, there's always #bitcoin-otc. not that great for complete newcomers, though, but if you have or can establish a reputation, you can trade for pp, moneypak, amazon payments, etc.
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as far as 'mutually trusted third party', as far as i read, your level of trust for personX is equal to the lowest trust link in the chain between you and personX, if you don't know personX directly. So say, the links are You - 50 -> personA - 60 -> personB - 30 -> personC - 50 -> personX. Then /your/ trust with personX will be 30 (the lowest valued link).
That's the theory, but my problem with it is that trust isn't quantifiable. A may trust B and B may trust C but that doesn't really equate to A trusting C. A may trust B with regard to him honoring his own obligations, but still not trust B's judgment. B may trust both, but actually be an unrealisticly trusting person. C could be a grifter using B's trusting nature to get A as a mark. Again, Bitcoin doesn't require trust to function, but nor does it defend A against confidence scams. Mutual credit systems are a bit different, because they do depend on trust, and the lack of real trust within a theoretical web of trust acts as a limiting factor. well, read more about the way ripple works. when there's a transaction between A and C via B, what happens is that A extends credit to B, and B extends that credit to C. so effectively, B is on the hook for extending the credit to C. So if you trust B to repay his credit, the problem of trusting C is on B's shoulders. sure, B can default... but then you (a) shouldn't have trusted him in the first place, and (b) stop trusting him for the future (or at least reduce your credit line to him). <disclaimer>just my understanding, i'm a noob at ripple</disclaimer> |
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hey, mtgox is real! i saw it with my own eyes!  good question though. not sure if the major markets support this feature explicitly, but i'm pretty sure that if you have a large order and place it with a real broker, they can keep it quiet and negotiate with other incoming large orders, keeping it off the official electronic order book. alternatively, people can use bots to 'gradually' put out their large order out to the market. e.g., you want to sell 100k shares, you keep putting in orders for 5k, and waiting for people to take them, then place the next, etc. |
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Can you post stats such as how much RAM and CPU, also how much hard disk space is available and internet connection. Where is it hosted allowed not allowed materials.
This is on a shared host, so RAM, CPU, and disk are "unlimited". Of course if you try to make your site the next Wikipedia, disk or traffic-wise, the host will probably complain. But as long as it is your regular moderately-used site (e.g., this forum for example), it should be just fine. Host is located in the USA, so no materials that are illegal to host in the USA are allowed. |
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interesting... too bad for all the technical analysts out there, though...
are you sure it's a good idea to hide parts of the order book?
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That sounds to me like a pretty good defense of Ripple as a decentralized credit network.
That was a defense of the web of trust idea with Bitcoin, but Bitcoin isn't credit. in case of bitcoin, since transactions are 'free', you don't actually have to use the ripple credit lines as anything more than an indication of the level of trust between you and your counterparty. (though you could if you wanted to.) as far as 'mutually trusted third party', as far as i read, your level of trust for personX is equal to the lowest trust link in the chain between you and personX, if you don't know personX directly. So say, the links are You - 50 -> personA - 60 -> personB - 30 -> personC - 50 -> personX. Then /your/ trust with personX will be 30 (the lowest valued link). So for example, just because personC might trust personX for a million dollars, that's not going to be your level of trust for personX. So the fact that the web of trust is dispersed and variable, that's not really a problem, it seems. At least, that's kind of what i'm thinking, according to my current understanding (I've only recently learned about ripple myself). |
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I don't think that mutual credit systems stand a chance in the online arena.
i'd be curious to know /why/ you think that. |
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This seems interesting, I did not know that. But hey! I'm missing "Bitcoin" as Default unit on ripplepay! :-) Are you somehow related to ripplepay developers? It would be nice to add Bitcoin as currency ;-).
there seems to be discussion on the ripple forums about adding it... |
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Hey all, just want to see if there would be any interest in hosted private instances of a number of popular web apps. I can offer instances of MediaWiki, WordPress, phpBB, Zenphoto, and Drupal. No shell account - you'd just have an administrator-level account on an instance of the webapp of your choice, to do with as you like. For example, see http://wiki.bitcoin-otc.com/ - an instance of MediaWiki that is being used for the bitcoin-otc marketplace. If you'd be interested, please let me know (and what monthly price in BTC would you think fair/attractive). If there's interest from at least a handful of people, I can make it happen. |
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1iDonOTwAntYouRBITcoInsSAvEthem
good thing that isn't a valid address otherwise people might just try to donate to it. |
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for those of us without hundreds of thousands of spare USD to throw around... the more important question is how much can you afford to risk? because at the moment, bitcoin does carry with it some significant risks. think of it as diversifying into another asset. |
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fwiw, artforz, on irc, claims to have some working python bitcoin node code... he may be a good one to hit up on help about understanding the protocol.
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RHorning: interesting musings. btw, have you been keeping up with citizendium at all (the 'alter-pedia' by larry sanger)?
as far as getting donations to the wmf in bitcoins... i figure it doesn't hurt to ask... pointing fingers at EFF may be a helpful bit of persuasion...
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Yep. Although I must say, cash in the mail can be quite fun when it works out I don't know why, it just has a certain excitement to it... haha interesting point. |
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FYI, there's some regular mtgusd-ppusd trading going on on #bitcoin-otc. See http://bitcoin-otc.com for details, outstanding order book, etc. So anyone who wants to exchange mtgusd, feel free to stop by. |
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great, thanks! |
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Also, with the advent of bitcoingateway.com, I don't think cash-in-the-mail is the best way to buy them anymore.
nor with the earlier advent of bitcoin-otc, there's been btc-ppusd trading going on based on a web of trust there for a while now. beats cash in mail, as far as i'm concerned. bitcoingateway looks great and quite useful, though! |
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thanks ribuck for helping out with the link. |
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