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941  Economy / Speculation / Re: Mike Hearn: "Progress on the bitcoin protocol has ground to a halt" on: June 27, 2014, 07:04:18 PM
this is why we need to stop new proposals that want to change the protocol to their own advantage, like Sidechains.

Sometimes a well thought out response to user requirements is required. Colored coins are a mess.

I'm genuinely interested to hear why you feel it's to their own advantage, can you expand on your reasoning?
942  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Bitmark on: June 27, 2014, 06:41:59 PM
Nothing new released today.

I am working on the first build and hope to have it on github soon.

The source is the latest bitcoin release, manually merged with the scrypt modifications from the latest litecoin branch. Considerably more work than it sounds, yet enjoyable. It should serve as a strong foundation for future developments.

If anybody can spare some time, please review and check the writings on the bitmark wiki, the earlier we can catch any flaws in my rationale, the better.

Thanks.
943  Other / Off-topic / Re: Your favourite bitcoin conspiracy theory(+create yours) on: June 27, 2014, 05:26:32 PM
Bitcoin is over 15 years old.

ConspiracyMonger.

Well, in a way Bitcoin is over 15 years old if you consider the building blocks of bitcoin like Hashcash and Wei Dai's original concept.

Yes, and that Satoshi commented on both of them and had the concept of bitcoin close to perfected back in 98 when he was discussing it with Adam Back and Wei Dai.
944  Alternate cryptocurrencies / Altcoin Discussion / Re: Is PoS dead? on: June 27, 2014, 05:19:45 PM
What are the costs of performing a 51%-attack in
1) PoW?
2) PoS?

Anyone?

1) Hundreds of Millions.
2) Theoretically nothing, if you discount checkpoints. with checkpoints it's hard.

But then there's the social 51% attack where a tiny majority hold a massive percentage of the currency. When this occurs the market is open to extensive manipulation for the benefit of the few, as with real world economics (the 1%).

NXT is a good example of the social 51% attack, the top 33 accounts hold 51% between them. The top 50 accounts hold 61.2%. I'm quite sure the top 1% of accounts (400 ish) hold almost everything, with the other 99% playing with spare change. source

I think that's why you see so many NXT shills trying to ram it down everybodies throats on this forum.

945  Alternate cryptocurrencies / Altcoin Discussion / Re: Proof of Stake Mining and NXT's and PPC's Implementations on: June 27, 2014, 04:15:54 PM
Checkpoints are broadcast to nodes to protect against history rewrites. It's centralisation of some kind, but serves the purpose.
946  Alternate cryptocurrencies / Altcoin Discussion / Re: Is PoS dead? on: June 27, 2014, 03:32:30 PM
Lol, the only thing i ever mined for about 2 weeks where some Ripples, not because i wanted to support the scam but i wanted to provide some computing power for cancer research.

Should I tell you how I know that's a lie?
947  Alternate cryptocurrencies / Altcoin Discussion / Re: Anyone else tired of new coins? on: June 27, 2014, 12:51:32 PM
Let's call this syndrome "coin fatigue". ;-)

Anyway, we indeed haven't seen anything yet. By this time next year I estimate we'll have 5,000+ unique blockchains and 100,000+ new tokens created on the various meta-layer protocols.

You guys had better start thinking about this as something other than "currency", because in the event that the world isn't very interested in that particular application (as it seems), the much-feared issue of dilution is certainly inevitable.

The cost of launching and mining a coin is fast beginning to outweigh the profit from creating one. Once it is unprofitable it will have to slow.

As long as people keep voting with their money, it will continue.

Very sad to see such a waste of hardware, time, and electricity.
948  Alternate cryptocurrencies / Altcoin Discussion / Re: 100 BTC: What to buy on: June 27, 2014, 12:24:07 AM
If you can't rationalise an investment based on your own research and comfort to hold for over a year, simply don't do it... (I'm not insinuating you can't though, just trust your own judgement)
Unless you like gambling, in which case gamble on something with odds, like a horse, rather than a whale infested cash cow.

Alternatively, foster new startups, kick start projects, back development projects you feel are beneficial.

If you must go for an alt coin, go for the one where you know the whales, and their intentions; or where you are the whale..
949  Alternate cryptocurrencies / Altcoin Discussion / discouraging institutional investors by being anonymous? on: June 27, 2014, 12:03:21 AM

Being anonymous obviously doesn't help the developers of shitcoins and clones, however does the anonymity factor detract from the work of hard working developers who are making valuable contributions to the community?

Put another way, do institutional investors (within the context of supporting projects or buying aged PoW coins, not IPO/scams/PoS-premines), become deterred if the lead developer of a project is anonymous?

I wonder just how much of a bearing a developers identity has on a project.
950  Alternate cryptocurrencies / Altcoin Discussion / Bonus Blocks? on: June 26, 2014, 11:53:42 PM
Has anybody done a study or observed how bonus blocks affect the value of currencies which have them?

Are there any examples of currencies which are relatively mature and valued which have bonus blocks?
951  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Bitmark on: June 26, 2014, 06:41:32 PM
Very helpful, and that's the plan. Thank you Smiley
952  Alternate cryptocurrencies / Altcoin Discussion / Re: Anyone else tired of new coins? on: June 26, 2014, 05:06:11 PM
There was a time when I considered doing an altcoin.  I have some good ideas for technical innovations, starting with multivalent amounts (like colored coins but built into the protocol so you can't mess it up with a stupid client).  

I even developed the code for it.

But then before launch I started seriously looking at the altcoin market, and ... ghod, it's a cesspool.  

Between exchanges that accept bribes to  list coins and blatant market manipulation scams, tactics like burst mining, the outright scamming, etc....  it's the sort of thing you just cannot do honorably any more.  

So I didn't.  

You should.

Don't announce it like a normal alt coin, don't push it, market it, inflate it's cost, premine it, or try to get it on exchanges. Just put the project out there and discuss + support it.

I'm having the same issue at the minute with bitmark (linking so you can see how I've approached it). I'm being public but keeping it technical or based on discussions, with much of the information needing effort on a readers part.. to go to the wiki and read, I'm finding response and feedback is small but valuable.

I feel there is, and should be, space for projects with merit, the noise should not preclude the real projects.

Publish your work, I for one promise to have a good look at it, as I see the need for DDAR solutions (decentralised digital asset registers), and believe colored coins being strapped on is not a viable solution.
953  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Bitmark on: June 26, 2014, 03:50:13 PM
Published Allocation of Variables

Port Usage:
  • P2P Port: 9265 (testnet: 19265)
  • RPC Port: 9266 (testnet: 19266)

If you are aware of a collision with existing services please open an issue or reply.
954  Alternate cryptocurrencies / Altcoin Discussion / Re: [DOLP] Project on: June 26, 2014, 02:12:59 PM
Just to state the obvious. This is not Jed McCaleb.

The attempted use of this tactic alone should be enough to damn the DOLP project.
955  Alternate cryptocurrencies / Altcoin Discussion / Re: Anyone else tired of new coins? on: June 26, 2014, 02:10:45 PM
Tired of clones, always happy to see innovative or refined new alternative currencies.

The former is noise, the latter is beneficial.
956  Alternate cryptocurrencies / Altcoin Discussion / port / currency code registry or tracker? on: June 26, 2014, 02:08:04 PM
Too many coins, too many settings, it is now almost infeasible not to cause a collision of usage.

Has anybody already tackled this problem, is there a fairly complete list of ports used by alternative coins, and currency codes?

Perhaps one of the altcoin data suppliers could export a list of currency codes and ports (p2p, rpc, testnet) so we can see what is available.

Thanks you.
957  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Bitmark on: June 26, 2014, 01:32:52 PM

so if I got this right in layman terms the payment gateway and blockchain can be sidestepped in favour of peer to peer exchange.

thus reducing extra charges and resources used in paying for goods and services

with businesses adopting a currency and exchanging users fiat for crypto it would be similar to purchasing tokens at an arcade and those tokens being able to be used anywhere else

is this right

of course this is a great idea and would certainly help with greater adoption

Close enough Smiley

Existing trust-me micro-transaction providers (games, services, itunes, facebook) add bitmark support for withdrawal and deposits. They continue to handle micro-transactions in a proprietary way.
Entails money can now flow freely between these providers, decreases reliance on latent legacy systems, increases adoption of Bitmark.
Positions these providers as micro-exchanges, exchanging site specific virtual currency / fiat / bitmark.
Reduces costs and services for all parties, increases or enables flow of money and additional revenue streams.
Further enables new ways of working online (ebaying, any form of content creation).
Paves way for future chain based micro-transactions (sidechain).

Bootstrap in existing trust-me microtransaction platforms, huge potential market, encourages greater adoption.
958  Alternate cryptocurrencies / Altcoin Discussion / Re: [ETHEREUM] What are its benefits? on: June 25, 2014, 05:48:27 PM
well it isn't bloatware, and it's developer's don't push agendas on the uninformed..
959  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Bitmark on: June 25, 2014, 05:03:25 PM
Published Microtransactions and Microtrust (Migrating to Sidechain) on the wiki.
960  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Bitmark on: June 25, 2014, 10:19:54 AM
This project looks good and I sincerely wish you the best, but one thing I'm concerned about is interest from the average altcoin enthusiast. Without any shiny features or grand promises will a good, solid coin be enough to garner interest among so many competitors? I mean, I would hope so, but people seem to have the attention span of a three year old these days when it comes to coins. I worry that without all the latest trends like anon that this coin won't get the attention it deserves.

Thank you for your kind words.

Short lived interest from the average altcoin enthusiast is not what we're looking for, nor excessive speculation, unwarranted hype, or artificially inflated value. Non of these things can benefit the bitmark project.

To me personally, one comment of support, some discussion on the specification or features, a bug found, or a genuine user is worth several times more.

Regarding attention, hopefully over time attention from those that can benefit from bitmark will be earned. Earned through consistent and committed development, a distinguished recognisable name, warranted evangelism, technical merit, longevity, you know... the way most real world and online projects earn their attention and adoption!
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