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They've filed for a preposterous (because trivial) patent on this. Multisig escrow isn't new, and keeping a timestamped log of evidence isn't either, and there are far better distributed logs than the centralised one proposed by Coinsigner, such as virtual-notary.org and lots of others. I'm in favour of doing something like this, in fact I've proposed it myself, but as a distributed service, possibly a new protocol layered on top of Bitcoin.
I call on everybody to boycot this site. Trivial patents like this are essentially a land grab, or theft of other people's potential productivity. It's disgusting.
Hi, mmeijeri, have you done anything on this area? any relevant info? |
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below are from the latest Bitshares X whitepaper:
A recent entrant to the Proof of Stake scene is Nxt which claims to be 100% proof of stake and does so with a process they call transparent mining.
With transparent mining the network deterministically selects who gets to produce the next block. If this person is online at the time then they get an opportunity to earn transaction fees. Otherwise a block is produced by the next in line.
The problem with existing proof of stake systems including Peercoin and Nxt is that they dependupon a subset of users that actually choose to dedicate computational power to mining in aneffort to earn income from transaction fees. This creates two classes of users and significantly reduces the percentage of the money supply used to secure the network. Additionally both of these systems suffer from the potential that a large stake holder could perform a denial of service attack by refusing to include some or all transactions.
how do you think the comments about NXT transparent forging?
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Hi, TF,
where are you? why did you refund some accounts but leave the others unrefund? can you just appear and give some updates?
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Hi guys,
Did you get some refunds? I got a balance at Inputs.io of only 0.0123752 BTC only. I hope I will get a refund too. Its just a small amount from faucets/free btc sites.
Refund could be sent at this address: 1BkhQkvcv78hEsvc8Mm7PrtY2mtcwUrchr
regs,
-poriks
He hasn't been repaying anyone lately as far as i know. I contacted him almost two weeks ago, and he hasn't repaid me yet. you can check what pepole replied in this thread in the last 2 weeks, someone has received refund. although partially |
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TF did not appear in BT in the last 4 days, anyone know what happened?
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Hi,TF,
you have mailed me at 10, Nov said that my refund will be processed in 5 days, but now 12 days passed and I still haven't received.
many users have received their refund, can you process my refund a litter quicker?
just send a mail to remind you.
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还有好多币在里面，持续跟TF联系无回音...  |
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my friend kaku pay 150RMB but when he send the mail the delivery of the mail failed:  i tried to send mail once more but still failed. please check and confirm the payment and fix the mailbox issue. |
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Space is limited, so buy your tickets early! We prefer if you send bitcoins (obviously).
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Prices (includes two drinks):
Early Bird - .15 BTC, $25 USD, ¥150 RMB
At the Door - .25 BTC, ¥250 RMB (we won't take USD at the door)
you prefer bitcoins, but the price discourage bitcoins, today the exchange rate is above 1200RMB/BTC, which means who pay bitcoins will pay more according to your price. Hi GiantCrab, don't be so crabby.  The flyer was made earlier and we can't keep changing the flyer based on the highly volatile bitcoin price. If you feel you aren't getting enough value, I will personally buy you another drink or two to make you feel better. We are just trying to promote an environment for bitcoin enthusiasts to get together. Hope to see you there. not a big problem, I'll be there. i just tell that in current condition i'll like to pay RMB, and i think many other bitcoiner will do same, although we trade in bitcoins everyday. and the address should be "复兴中路", right? |
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Space is limited, so buy your tickets early! We prefer if you send bitcoins (obviously).
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Prices (includes two drinks):
Early Bird - .15 BTC, $25 USD, ¥150 RMB
At the Door - .25 BTC, ¥250 RMB (we won't take USD at the door)
you prefer bitcoins, but the price discourage bitcoins, today the exchange rate is above 1200RMB/BTC, which means who pay bitcoins will pay more according to your price. |
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hi, TF,
I have tried to withdraw 203.635 BTC to inputs.io at 13th,OCT but failed, could you please help me to finish that?
hi, TF, could you help me to do the withdraw or tell me what happened? if here is not a proper place to tell, can you reply my mail? Hi, Sorry for missing your email before - just resent! received, thanks a lot!  |
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hi, TF,
I have tried to withdraw 203.635 BTC to inputs.io at 13th,OCT but failed, could you please help me to finish that?
hi, TF, could you help me to do the withdraw or tell me what happened? if here is not a proper place to tell, can you reply my mail? |
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hi, TF,
I have tried to withdraw 203.635 BTC to inputs.io at 13th,OCT but failed, could you please help me to finish that?
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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…
Actually, it isn't absurd to suppose that it will track simply because of the name. To demonstrate why, let me introduce the following principles: 0) BitShares have non-0 value 1) USD has non-0 value 2) There exists a ratio between the value of BitShares and USD known to the market. 3) All trades are voluntary 4) All new issuance is based upon a short and a long taking opposite sides 5) Both the short and long have financial incentive to ensure they enter the position at the current exchange rate. As a result all short positions are by definition at a price that reflects the proper ratio or the trade would not have occurred. Once the trade has occurred the market participants must agree on all subsequent trades. When the owner of BitUSD wishes to sell, he must find a buyer. He of course wants to sell it for as high a price as possible while everyone else wants to buy for as low a price (in BitShares) as possible. No one would dare pay more than the USD / BitShare exchange ratio and no one would sell for less than the exchange ratio. The short position has constant pressure to cover because of the carrying cost, while the long position is receiving twice the dividends per unit value and thus there is an ample market to buy his BitUSD because excluding exchange rate risk, BitUSD pays twice the return as BitShares. So BitUSD is a prediction market on what the future resale value of BitUSD in terms of BitShares will be. 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 factors you mentioned exist in many free capital markets, however they do not necessarily generate a stable tie up relationship. Yes, most of the delivery does not happen for future contracts, but the delivery promise plays a critical role in the price discovery process, it is clear that if such a promise is removed the price trend of the future contracts will behave totally differently. If I had 1000 Bitshares, I’ll depend on my forcast of the price trend of BitUSD to decide at what ratio to buy or short it. I don’t think I need assume 1BitUSD=1USD. let’s wait the BitX and test on it. |
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Now I believe everyone can agree that if this were a real bank and the bank stock has a non-0 value that each and every transaction would be valid and 'safe'. The USD note's from the bank would have a market value of about 1 USD and the purchasing power would be defended by the bank which would honor its IOUs. There should be no doubt that the USD would track real USD even though the bank never had any USD on deposit, only offsetting ledger entries and collateralized loans.
There are many difference between here the bank and Bitshare system, the bank issued USD notes with nominate price and it will honor its IOUs, but how about BitUSD? Its price will be solely determined by the market force and how can you say it will track the real USD? I don’t think BitUSD can track real USD only because of market force unless some connection between BitUSD and real USD is built, market is such a world that many factors have impact on BitUSD/USD exchange rate, most probably the BitUSD/USD exchange rate will behave like bitcoin/usd rate –it will go up and down without a stable equilibrium. In another word, why should BitUSD track USD and BitGold track gold? Can their name lead to a market consensus? To enable BitUSD track USD, market makers is needed at the early phase, the market maker can do something like to sign a contract with some estore to purchase their BitUSD at a proper price, or even provide futures contracts to stabilize the price of BitUSD, some time later when a stable connection between BitUSD and USD has been built the market maker can escape and we can still expect the track relationship remains. BitUSD will track USD in the same way as prediction markets track any arbitrary concept. I recommend you study how prediction markets, derivative markets, or 'side-bets' work in practice. Every actor in the market has financial incentive to tie BitUSD to USD by 'betting' on where the future consensus will move. The only logical way to bet is to assume everyone else will eventually bet with with consensus toward USD. No market makers are ever needed. In fact, there is no need for BitUSD to ever be exchanged with USD for the system to have value. Think on this last point a bit and you will gain many insights. In prediction markets, derivative markets, or 'side-bets' work in practice, actors will benefit when their forecast meet what really happen, otherwise they will lose. In the IEM project that are designed to predict election, actors who correctly predict the election result will benefit. This is the base to generate a meaningful prediction result. The price of future contracts is always highly correlated with the price of spot goods, because at the mature date the long side will be delivered the spot goods! 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… Charles, thanks for giving so many explanation. actually I have read out some great idea from BitUSD design, you know, Bitcoin is decentralized, but only for issuing, the issuing quantity is still determined centrally. However according to the designed creation process, it seems BitUSD can be regarded as a currency that are decentralized not only for issuing, but also for determination of issuing quantity, do you agree? |
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Now I believe everyone can agree that if this were a real bank and the bank stock has a non-0 value that each and every transaction would be valid and 'safe'. The USD note's from the bank would have a market value of about 1 USD and the purchasing power would be defended by the bank which would honor its IOUs. There should be no doubt that the USD would track real USD even though the bank never had any USD on deposit, only offsetting ledger entries and collateralized loans.
There are many difference between here the bank and Bitshare system, the bank issued USD notes with nominate price and it will honor its IOUs, but how about BitUSD? Its price will be solely determined by the market force and how can you say it will track the real USD? I don’t think BitUSD can track real USD only because of market force unless some connection between BitUSD and real USD is built, market is such a world that many factors have impact on BitUSD/USD exchange rate, most probably the BitUSD/USD exchange rate will behave like bitcoin/usd rate –it will go up and down without a stable equilibrium. In another word, why should BitUSD track USD and BitGold track gold? Can their name lead to a market consensus? To enable BitUSD track USD, market makers is needed at the early phase, the market maker can do something like to sign a contract with some estore to purchase their BitUSD at a proper price, or even provide futures contracts to stabilize the price of BitUSD, some time later when a stable connection between BitUSD and USD has been built the market maker can escape and we can still expect the track relationship remains. |
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I am confused why today the price of MINING is at high level, you know that today is the last day with current dividend, tomorrow the price of MINING will fall immediately as the dividend fall. why doesn't holders sell MINING out in time?
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I am confused by one thing:
in BTCT the listed shares is Outstanding 0 / 2400000 Issued
but also it is said the initial offering is 4,000,000 shares of BTCGARDEN,which occupies 40% of BTCSEA CO.,Ltd`s market value.
how to understand this? anything wrong?
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I signed up and enabled 2 Factor authorization, but then i found i cannot login any more, each time i was told "login incorrect". i already funded 30 BTC as i need to buy assets in BitFunder! no response from the support emailbox, what can i do  ?!!!!! please give necessary support! |
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