How about BitUSD? your logic is that “The only logical way to bet is to assume everyone else will eventually bet with consensus toward USD.” But why? Can BitUSD exchange with USD at a fixed rate? or who make BitUSD tie to USD will be rewarded? No. Actually there is no link between BitUSD and USD except the name, the only way to win is to forsee the price trend of BitUSD correctly, no matter how the BitUSD/USD rate will change. Isn’t it absurd to suppose that the market will make one thing tie to USD only because you name it *USD?
However things like market making can make this tie happen, and then can lead BitUSD to act like USD in payment and deposits, then Bitshare system will be more meaningful then Bitcoin…
Sure, the promise of delivery is one aspect of futures contracts, but if you look closely, 99% of future contracts are never delivered and in fact the total outstanding futures contracts often exceed the available supply of a given commodity. The future market would be just as valuable if all trades were settled for USD rather than delivery because, in theory, the USD received would allow the commodity to be bought for immediately delivery. Try a thought experiment, assuming you had 1000 BitShares today, at what ratio would you short BitUSD and at what ratio would you buy BitUSD.... you now have your bid-ask spread. The legal requirement of SETTLEMENT on a specific date... Whether by Delivery or Cash Settlement is what enforces futures markets. It's not clear to anyone whether you have a proper mechanism in place. As for bid-ask spreads... there is no such thing as "you now have". Bid-ask spreads are a function: (a) market liquidity (b) market volatility (c) market manipulation You are gonna start with very liitle (a)... and a large amount of (b) and (c). Including rules like your 5% short closure Tax that will create massive (c). In general, overly complex systems are designed... To make it easy for Insiders/Experts to fleece the ordinary Lambs... So complexity in and of itself... is a reason for skepticism. |
|
|
|
And now its fallen around a third in value. Any insights?
Well, in the last week XPM has tripled... while PPC has dropped by a 30-40%... I doubt that this is random behavior... and it's not about BTC. It's only a matter of time before a coin takes a run at a weakening LTC. Are the whales annointing XPM as the LTC challenger... Or is it just another Pump that will reverse over time? |
|
|
|
Why are you so ignorant?  BCX must be tired... After a long day cleaning up the internet. Cryptsy is fucking RoadKill... And BCT-e is shitting fat Russian bricks. MCX is doing 10 times the volume of the legacy Cryptsy exchange... And will blow past BCT-e this week with the 45% mcxFEE share release. XPM did 3,000 BTC on MCX today vs 900 on BTC-e... May Sunny thank RS for the 7 handle... For the first time LTC is in real danger of falling into 3rd place within a few months. http://www.cryptocoincharts.info/v2/markets/info |
|
|
|
http://www.cryptocoincharts.info/v2/markets/infoMCX already does 10 times volume of Cryptsy... And will BLOW by BTC-e when 45% of mcxFEE shares are distributed in a few days. Complaining that MCX was originally started up to dump/revive specific coins... Is like complaining that Glock started out making bayonets (so their guns must suck). Nobody cares... and it's October 2013 for anyone keeping track.
|
|
|
|
Love the slogan
Ya man, "hard-hitting" like you. |
|
|
|
The Goldcoin community is at least trying to do something for the crypto community to find somekind a solution to the 51% attacks. We have started something and from here on we build/improve it. To be honest I personally like all this critisme/advise, because it can all be used to improve this defense.
gmaxwell: "It doesn't sound legitimate at all. It sounds like the writing of someone... Who doesn't even have a basic understanding of the problem space." Heres a serious Dev pointing out... The paper was a Promo Piece designed to give a false sense of security to GoldCoin owners... And the last thing on earth we need is "help" from a bunch of Promoters. |
|
|
|
Fuck off and go peddle your everyone is a scammer bullshit somewhere else !!!!!!!
Firstly if it where true....which it is not ...does not then make it ok or acceptable to turn a blind eye or dismiss it as law of the jungle type of deal
i think u misunderstand, i certainly dont think any scaming is justified or should turn a blind eye to, very much the opposite. just funny the amount of scamers calling other scamers out. You better start to learn the english language as It was fairly plain and clear your meaning... Now here you go again by inference implying that "I am a scammer" thats pretty awesome ...or was this another of your honest mistakes If it is not me who is this in reference to may I ask ? Oh, please... did your dog die? If you are hanging out and posting in Alt Coin... YOU, sir, have a very high tolerance for scammers. Here is an idiot who LOVES and ADMIRES a psychopathic killer like Tony Montana... But is "pure as the driven snow" when it comes to Alt Coins. |
|
|
|
Who ever wrote this, seriously needs a basic tutoring in exactly what a 51% attack is....The whole thing is so flawed I don't even know where to begin.
A 51% attack in no way has to involve a Double Spend on an exchange. I can kill your block chain with a 51% attack and never spend a single coin. It seems to me the author doesn't understand what a 51% attack is or the difference between a 51% and a Double Spend attack. They are entirely two different exploits and neither one will be limited by a 5 blocks in 10 minutes limitation....
Also let's not forget about either one of the Time Warp Exploits, the ArtForz version from 2011 or the new and improved BCX version that no one yet has seemed to mitigate at all.
I like Goldcoin and I like Microguy but if you guys keep posting basic stupid crap like this, someone will come along and shred your coin for you just for the hell of it and no it won't be me. I can think of about 5 or 6 right off the bat that would do it just for the challenge.
~BCX~
This garbage was posted officially as GoldCoin Propaganda... So it must have been vetted by several people... I for one, am tired of these clowns running their pie holes with idiotic predictions, etc. Get a grip, its just a basic, deflationary LTC clone (with g-o-l-d in the name)... Its reached the point where crippling GLD would help clean up the Alt Space. |
|
|
|
yep, DavidPate, the famous LTC whale, is totally commited on mcxNOW now. He deposited all his Litecoin on the exchange (+140000) and have bought 1600 mcxFEE! That's 1.6% of all exchange revenue. He revealed targeting a total of 20 000 share after the next IPO. Crazy. He must believe a lot in the man  and yesterday DavidPate decided to buy the right coin for the future of crypto: SC --> MC (yeah) over 100k of ~ 1.1m deposited at mcxNOW davidpate singlehandedly drove mcxFEE shares maybe 20-30% higher... Once MCX is Whale Central, plus more coins, plus decent charts, it will fucking rock. But everything Ive read about MicroCash is INCOHERENT... RS may be a great Dev and Idea Man, but he writes at a high school level. https://twitter.com/davidpate8 |
|
|
|
Like I said, I don't think mtrlt is RealSolid - try reading what I said before trying to bash it.
Of course he didn't force anyone to donate. But he promised that he would build a GPU miner that would be several times better than a CPU, and people "donated" based on that belief. Calling it a "donation" was a lie by mtrlt as well, because as you said, the "donators" were paying mtrlt in expectation of receiving a profit. Lying about the power of the GPU miner to get people to pay is misrepresenting a product you are selling. Even if you call it a donation, you're still lying to get it. I could say I'm collecting money for the Salvation Army, use that to get donations, then keep it all for myself. Oh, but no one can get their money back because it was a donation! I wonder how well that would hold up in court.
Around here in the Alt Space... Its often hard to make the distinction between "scam" and "failure". Many coins/projects are pure scams... And EVERY SINGLE PERSON HERE has mined and pumped a Scam Coin... Because once you get sucked in and own coins = Stockholm Syndrome... Otherwise honest people will defend, promote, fellate their kidnappers/scammers. Then there are projects that fail for technical reasons... You pretty much have to be an engineer to tell the difference. In addition, RS endured wave after wave of DDoS attacks that crippled SC... Like a medieval castle under seige by a 1,000 flaming catapults... So it all gets really murky what really happened to the wallets... And whether walking away was RS only option. 2011 is called the Upper Paleolithic period of the Alt Space... When Alt Miners were indiscriminately interbreeding with Botnet and Spam Lords... Before the glaciers moved in... resulting in wholesale extinctions. Darwinian theory asserts that the fittest survived and moved on... With MCX an example of a particularly brilliant stroke of Genius and Obsession... I can guarantee you RS would rather be running MCX 18 hrs/day... Then relaxing on the beach or being an idle rich dude. |
|
|
|
I really like this idea! And apart from the kind of solution you suggest it is a real problem.
Cryptocurrencies have the potential to change the system. But at the moment, as you
said, its not much different then USD. Rich people (who jumped on BTC early or have
a lot of capital) get richer with big mining rigs or trading and poor people cannot participate
like they should!
And this s why the world (the ordinary people) will not hug the bitcoin in this form. It must evolve or will be replaced by another currency. I agree with your philosophy... But CAPTCHAs are the most hated thing in the world... They are onerous... and frustrating... and boring... and boring... and boring... and boring. If your creativity ends at CAPTCHAs... just get a fucking job. |
|
|
|
|
Introduction
libzerocoin is a C++ library that implements the core cryptographic routines of the Zerocoin protocol. Zerocoin is a distributed anonymous cash extension for Bitcoin-type (hash chain based) protocols. The protocol uses zero knowledge proofs to implement a fully decentralized coin laundry.
The Zerocoin protocol is provably secure and uses well-studied cryptographic primitives. For a complete description of the protocol, see our white paper published in the IEEE Security & Privacy Symposium (2013) below.
WARNING
THIS IS DEVELOPMENT SOFTWARE. WE DON'T CERTIFY IT FOR PRODUCTION USE. WE ARE RELEASING THIS DEV VERSION FOR THE COMMUNITY TO EXAMINE, TEST AND (PROBABLY) BREAK. IF YOU SEE SOMETHING, SAY SOMETHING! IN THE COMING WEEKS WE WILL LIKELY MAKE CHANGES TO THE WIRE PROTOCOL THAT COULD BREAK CLIENT COMPATIBILITY. SEE [[HOW TO CONTRIBUTE]] FOR A LIST OF WAYS YOU CAN HELP US.
WARNING WARNING
NO, SERIOUSLY. THE ABOVE WARNING IS NOT JUST BOILERPLATE. THIS REALLY IS DEVELOPMENT CODE AND WE'RE STILL ACTIVELY LOOKING FOR THE THINGS WE'VE INEVITABLY DONE WRONG. PLEASE DON'T BE SURPRISED IF YOU FIND OUT WE MISSED SOMETHING FUNDAMENTAL. WE WILL BE TESTING AND IMPROVING IT OVER THE COMING WEEKS.
WARNING WARNING WARNING
WE'RE NOT JOKING. DON'T MAKE US PULL AN ADAM LANGLEY AND TAKE AWAY THE MAKEFILE.
|
|
|
|
You need to build a CAPTCHA Coin ATM...
That dispenses a bowl of rice to the child slave miners.
OK, how many children work for you in real mines (in Africa and ect.), where they are mining minerals (copper ect.) for your ASIC divice? Stop talk about childred slaves, this is not the subject. Bitcoin now is not different from USD, only rich can mine it. So if you support bitcoin, you support children slaves. This is why things must change, and may be this is wrong place, all are greedy miners here . CAPTCHA is an old failed security solution... Do some research... there are MUCH better ways of requiring some human input. |
|
|
|
|
You need to build a CAPTCHA Coin ATM...
That dispenses a bowl of rice to the child slave miners.
|
|
|
|
The author is wrong, there's no traceable IP address but all transactions are public, recording the wallet id and amount
Even though no IP address is stored in the blockchain, any NSA listening can correlate your IP address to the transaction. Also your ISP may keep a log your communications, which the authorities can access. I wrote more about why we need high-latency I2P more then we need Zerocoin: https://bitcointalk.org/index.php?topic=273197.msg2950849#msg2950849Currently Tor and I2P are not very confidently anonymous, because low-latency Chaum mix-nets (a.k.a. onion or garlic routing) are not immune to timing attacks on anonymity. That SWAT team that broke my door down at 5:00 AM last week... This is exactly what they told me. |
|
|
|
As far as I know nor BTC-e owners neither BTER owners published their real identity. Haven't seen such thing on Cryptsy as well. I think if we trading on an unregulated market we should not expect the same behavior as we expect in the case of a regular bank.
RS mentioned yesterday, "Why should I disappear with the money?"... He's about 40 and married with family and a house and EASY to find in fucking Tasmania or whatever... Think plz you only know what he tells you. Online you can assume any persona your imagination can create, 45 y/o married man with kids online or 16/f/cali. I view him as trustworthy. There is surely a small fortune in USD equivalent residing in his exchange wallets now. An unscrupulous character with ulterior motives would have disappeared into the night with that fat stash a long time ago. My beef is with the way he runs the exchange. He is the single point of failure. If he gets run over by a bus tomorrow the funds are stuck in limbo, seemingly indefinitely. Plus intellectual braggadocios are a pain. Dude, RS takes a lot of heat in the Chat Box every day... If he was constantly bullshitting the contradictions would add up... And he would get called on it daily. How many experienced C++ coders do you know under 30? How many people under 30 do you know that have built a $10 million business? Its not luck... its making a lot of VERY good decisions based on long experience... I know... I run a multi-million $$$ NYSE trading business... cryptos is a FUN hobby for me. After the 45% secondary offering Im sure RS will get some help. |
|
|
|
As far as I know nor BTC-e owners neither BTER owners published their real identity. Haven't seen such thing on Cryptsy as well. I think if we trading on an unregulated market we should not expect the same behavior as we expect in the case of a regular bank.
RS talks all day long in Chat Box... I've been following him for a month.. And he seems to be a FAR more decent fellow than his Stalkers. RS mentioned yesterday, "Why should I disappear with the money?"... He's about 40 and married with family and a house and EASY to find in fucking Tasmania or whatever... He is also an uber-geek that runs his exchange 18 hours/day... It's all about the tech and the game for him... money is nice, but not the point. There's already $1,000,000 in BTC on MCX... There's gonna be another $5,000,000 when the 45% secondary issue hits in days... People are happy to pay him 1 BTC/share = 100,000 BTC = $12-13 million Market Cap. People don't get why - it's the hardcore trading culture he's created... You could list ShitCoin on MCX and those guys would Pump it to a $5 million cap. A year from now MCX Market Cap will be $50,000,000... RS is not going anywhere... the Dude will be a Player... He just has to keep rolling out coin after coin with all that money sloshing around... Every obscure coin he lists explodes in volume and profile... An MCX listing will be a VERY valuable, prized thing in the future. |
|
|
|
LTC on gox, because using BTC there now is an epic fail....
I wouldn't trust them with a dirty sock.
The whole ongoing LTC strip-tease... Is precisely the sort of rank stupidity... That has resulted in Bitstamp blowing by Gox. |
|
|
|
the creator and operator of Cryptsy, right?
Is it 2012 where you are today? How is the weather? mvxNOW is totally revolutionizing the Alt Coin Space... This exchange will push many Alt Coin Caps into the Litecoin range... RealSolid is the most influential man on the Alt scene... And he's just getting started. |
|
|
|
|
Show Posts
