Someone should create a list of lies and omissions in this video. For one thing, I don't think Moneygram or Western Union are using bitcoin yet as this video implies or outright claims.
It's an infotainmercial. Expect the profiteers. Bitcoin users not affected. Transition, remember? Eyes on the prize. |
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vitalick could you please answer
[1] I don't quite see how the price to execute etherium code will be determined.
there has to be some sort of clever system based on realtime or near realtime demand for, well what ever the limitation is to get things into the next block?
it could be an etheirum fork would set fees lower......
etherium = a bundle of switches, how do you price using a switch? ( iasked the same question of master coin and still don't have an answer....)
[2] I am also wondering if some sort of of chain processing can be done, and results are somehow integrated back into the etherium chain, that can be verified thus reduce bottle necks.....
still no answer to [1]... Regarding #1, it's something we're currently actively researching and modeling. You can read some of Vitalik's though on the subject at http://blog.ethereum.org/2014/02/01/on-transaction-fees-market-based-solutions/Ok, so it looks like I hit the nail on the head this is a crucial question, and etherium is a bundle of switches waiting to be arbitraged out by a fork, if fees are too high. Thinking out loud Perhaps you need a special attribute of "time" to colour etherium with, So ethreium coins have two core attributes, on of unit of sale like bit coin, that is 1 eth = 1eth, and the current usage of the computational power of ethrium weights in a relative value to each etherium. that multiplication of the two gives the market rate of etherium. thus the usage / demand of the network can dynamically colour an attribute of the coin. say the whole processing network is operating at 1000/s Unit, and has a capacity of 10000 units/s then, the number of eth in existence can be weighted by PRactual/PRcapacity *1/Number of eth. So the code must have some sort of ability to detect execution requests, so that overcapacity can be dealt with, e.g. 1Million / 1000. this raises the problem of knowing how much a program will request before you execute it......to solve this, the task should be thrown that allows a code to run on vm local cpu of with test net ruthenium, and an execution rate per second, that has its power defined as current ethrium network CPU. thus your entering into a PID sort of feed forward/Feed back control system, (better brush of those nyquist stably theorems etc). I'm not sure there is any other way around this. The market does exactly the same thing but at a slower pace by simply releasing etherium forks. A final note maybe that some how to allow all process to be run on an executors own cpu and only results at the interface be verified.Etherium seems to be pose the question of distributed computing needs to be tied together and pooled to solve a single problem in an efficient not cheat able manner. Everybody keeps missing the critical point when they talk about forking Ethereum: the user base. I can create a brand new TV network and sell my advertising for pennies on the dollar, compared to Fox and TNT and TBS. But is anyone going to buy the advertising? Not unless I can somehow attract the users, too. And in order to attract the users, I have to do something better than what everybody else is doing. I can't merely copy content from a major network (even if that were legal) and run it on mine--nobody would pay any attention. To gain users and market share, I would have to actually innovate. Can you outspend Visa/MC/Discover? What's stopping them from branding a fork and incorporating it into their userbase? They could build a nice point of sale system based on your work. Is that you real goal? |
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Here are some FAQ TAKEN FROM A Q&A on reddit Q: Sounds good. But what about the malleability of the suicide notes? A: The team is working on that. It will effect the exchanges in a positive way by actually adding value to the Proof of Suicide due to an act of malice. This will actually incentivise such tampering as part of the Jonestown Protocol. Q:This is really fucked up. Do you have a white paper? A: I am only reporting a rumor, but I've also heard of a white paper. It is written on the tanned skin of a Vestal Virgin in the blood of its founder as he was exsanguinated by blind and deaf children thinking he was a piņata. Q: Are Vegans an acceptable substitute? There aren't any virgins around, but there are quite a few snarky vegans hanging around the cafeteria. Q: Is there a mining pool? A: Great question! No, but there is The Dead Pool http://www.imdb.com/title/tt0094963/Q: Is it P2P? A: That is another great question! I'm afraid I'll have to defer that to the devs. However, what I can say is that they are working on "pay to perish" as a protocol extension. Q: Any word on what 3-letter code we're using on Ripple to designate this? XSC? A: Hardcore cryptocurrency users that use Suicide Coin don't need abbreviations and the only Ripple they use comes in a bottle. I have seen it abbreviated by devs as x_x Q: Hopefully it will allow multisignature transactions too A: That's called a suicide-pact packet. It works best with six people using a revolver loaded with however many bullets are required out of six with a standard issue .38 cal. Q: But what about nTimeLock? Isn't those tricky to pull off? A: X_X has as an even better implementation called nTimesUp. The Suicide Foundation knows a guy who knows a guy that will take care of you when your time comes. Q: This seems flawed. How do you differentiate suicide vs other methods of death? How do you prevent someone causing a relative an immensely painful death because they know they will inherit the funds? I don't think you've thought this coin through. However, I am willing to invest in it. Let me know when you launch. A: Like I said, I'm just going by what I heard. The whole suicide determination thing has me puzzled too. Sure, any Joe Shmoe coroner may be fooled by your suicide, but one of those Quincy/Bones types might see through your ruse to get more coins. The protocol solves what what has puzzled pundits and paparazzi for years known as the Cobain Conundrum. As far as what the devs call a Kevorkian, or a family assisted suicide, well let's just say that it is checked by the protocol as well. as far as the launch goes, they are planning to time it with the next Mt Gox fuck up. Q: Actually this could be useful. Allocating 1 of these to each anonymous account as a prerequisite of dealing with them might actually make things more civilized. You can always make the world a better place, if you're an asshole, by removing yourself from it. A: Exactly. That's part of the Jonestown Protocol if you run the electrocutem client. It's great to find someone as enthusiastic as the former devs. You might want to let them know so they can interview you. You may be asked to take the blue or red pill. But trust me, it won't matter. |
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Grocery stores solved this problem a long time ago, its called a check cashing card.
If you want to pay by check (at least in the days before automated check approval), you apply for a card, provide ID, address, possibly credit check, etc. Once you have a card, you can pay with a check. If your check is no good, they know how to send to collections.
Likely to be the same thing for bitcoin, at least for purchases above some amount.
Both bitcoin and fiat are irreversible. They have nothing in common with checks. In fact, cash can be counterfeited while bitcoin cannot. You should require an ID card for cash as well. Bitcoin is the only money that doesn't have counterparty risk. Both check and bitcoin are reversible and subject to fraud risk for some period of time. For bitcoin that time is minutes for checks it may be days or weeks (or possibly even longer). But for the purposes of grocery store checkout the effect is the same. In theory, perhaps. There have been many discussions about the possibilities of doubles spending, the costs to do so, and the risks of being caught. A business that had any volume would pay for their bitcoin processing that watches for double spend and finds them in a few seconds. Then again, there are always green listing services that some shops might require. It would be much easier to forge a check cashing card than double spending bitcoins. |
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he didnt use the word bitcoin once
The question was clearly about Bitcoin as it was mentioned twice in the question. If his reply was not inclusive of Bitcoin, then he would have been intentionally evasive. He seems like a strait arrow and would not resort to such tactics. |
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21 coins has gotten a lot cheaper over this past week...
That's how people acquire more coins. |
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Grocery stores solved this problem a long time ago, its called a check cashing card.
If you want to pay by check (at least in the days before automated check approval), you apply for a card, provide ID, address, possibly credit check, etc. Once you have a card, you can pay with a check. If your check is no good, they know how to send to collections.
Likely to be the same thing for bitcoin, at least for purchases above some amount.
Both bitcoin and fiat are irreversible. They have nothing in common with checks. In fact, cash can be counterfeited while bitcoin cannot. You should require an ID card for cash as well. Bitcoin is the only money that doesn't have counterparty risk. |
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Bitcoin is used in Germany more than Zimbabwe dollars. I would say that makes Bitcoin bigger than a fiat currency in physical shops.
One should think about this more often. "There can be only one."  |
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I was hoping for a civilised discussion based on reason and science. Calling a group of people "zombies" and "brainwashed" just for the sake of it, without providing any evidence is little more than backyard bullying. If you have an argument, please present it. If you just want to pick up a fight, you will find none Smiley
To whom are your comments directed? Not sure, but that expresses my sentiments as well. |
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Like I said before. Truths a short and simple, only the science can be complex. If your non scientific explanation is s wall of text, it's probably bullshit and not worth reading as a response to a three sentence reply.
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Whatever solution I would choose, it has to be something relatively easy to handle, not just for myself but for my non-geek relatives as well. What if the wallet has to be updated or changed? To write a new will is a bit complicated and costly if done by a professional. Paper wallet sounds good but I'm sure someone will come up with an even smarter solution in the future.
it doesn't have to be paper. It can be diamond etched in titanium. You could use electronic storage devices, but they can fail over time. |
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Maybe if Jon Lovitz played Karpeles. Yeah, that's the ticket. Yeah, you can trade to get bitcoins at half price and then we'll just give them to you, yeah. Yeah, then you get this magical candy factory, see? Then you get these magic cards, see? That's the ticket!
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This is a pre-announcement a new type of coin for truly dedicated and hardcore cryptocurrency enthusiasts. If destroying the environment through Proof of Work, throwing away your freedom to monopolistic fascists through Proof of Stake, or sacrificing your children's future through Proof of Burn are not up to your standards of dedication, then consider Proof of Suicide! There is rumor that a super secret cabal has been meeting at Mister Hyde Island to create the ultimate form of money. It works like this: Simply have your next of kin send an official copy of your death certificate and suicide note to the Suicide Coin Foundation and they will send them coins based upon key elements of your death. The coroner report will determine how much coin will be sent based upon certain criteria such as pain and suffering. They can't tell you exactly how, because that would decrease entropy in the distribution. Suffice to say that the more painful your death and the sadness of your note will be determining factors. Also, you need to hurry, because everyone will want these and when everyone dies, there won't be anywhere to spend them.
A special cryptographic transaction type based upon double-suicide is being developed as this is written. It will be a truly secure method of mitigating counterparty risk. Also in early development is the Jonestown Protocol that will be capable of handling many transactions quickly and irreversibly.
The announcement for this exciting new currency will be presented by the new development team as soon as the original members can be replaced. They were so excited, they decided to test it on themselves! Howabout that for dedication? Watch this thread for updates and start practicing those suicide notes!
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This is a weird article considering MIT has their own bitcoin club, and is working on creating their own bitcoin infrastructure. The video was posted just yesterday too. http://www.youtube.com/watch?v=ZloserjZNfMcool post |
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Bitcoin is used in Germany more than Zimbabwe dollars. I would say that makes Bitcoin bigger than a fiat currency in physical shops.
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All of them have the same answer: "Because you are too dumb to use Google." Sorry if I am repeating another post.
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Interesting....
Wonder if the community will except this new index as the "defacto" over other pricing sites. Also curious why they felt the need to create a new pricing index.
Don't know but I like that Gox prices are not factored in. So they say. But still their average is lower than BitcoinAverage. I wonder why they have to keep their formula a secret? |
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I'm working on a cool product that will solve exactly this problem! Details to follow, but in a couple months. Working on some new prototypes. :-)
I hope it is open source. |
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Can someone reverse engineer the formula their proprietary index of Math-Based Asset Index, LLC?
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