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1  Alternate cryptocurrencies / Bounties (Altcoins) / ƑantasyɃit ⚒5million⇄Proof-of-Skill 🧚🏈 «PROTOBLOCK» 💰B⃝O⃝U⃝N⃝T⃝Y⃝💰 I̷C̷O̷ on: September 04, 2018, 09:19:15 PM

Major Professional Sports Statistics is a special type of data - it is a) seen by millions, b) bet on with billions of dollars, and c) already has decentralized consensus. This data also feeds the 50 billion dollar Fantasy Sports economy. Protoblock incentivezes the distributed community to bring this data into the blockchain by using the data itself to mint Fantasybit. NFL Stats -> Fantasypoints (PPR) -> Fantsaybit

The basic idea is to pay the first person who provides the data after it reaches consensus. The genius solution is to pay all who predict the data accurately. So, we pay you to provide the results data before the game even starts.

1. Making Projections to earn Fantasybits

Earn your share of 5,000,000 Fantasybit coins from Sept-Dec 2018 by predicting NFL football statistics. Use desktop full-node or mobile light client for instant 1 click copy and send. Then use your skill of predicting American football to earn an even bigger share.

Each week Protoblock players compete by making direct projections for any/all NFL players prior to kickoffs

1. Projections must be signed with an known account prior to kickoff of each game.
2. As each NFL game is scored, ƑantasyɃit are generated based on the statistics

 each "PPR fantasy point" and automatically distributed to Protoblock Players based on accuracy. Each NFK  to a known  Protoblock app, and "claim your name". This name is an alias to your private-key stored on your machine.
2. At least once a week from week1 (Sept 1) - Week 16 ( Dec 23) , click "Copy-Clone" and hit send. This will create and sign projection transactions for each NFL player.
3. Check back after each game to see your reward!

How to Participate:

2. Selling players on news of injury
60,000 Fantasybit coins available for watching and reacting to NLF player news. specifically when a player is ruled "out" for the upcoming game, they will score 0 points. You job is to be the first one to "Sell" that player down to 0, in the Protoblock exchange.

1. User must download app, claim a name, and register for the contest, registration is open though-out the season.
2. 250 Fantasybit will be rewarded to the first user to "sell at 1" - for any player listed as "out" (up to 30,000, while supplies last). This user will also get 1 point for this contest.
3. 30,000 Fantasybit rewarded to players with most points. 15,000 for first place. 10,000 for second place. 5,000 for third place

How to Participate:
1. Periodically check player status . , for a player is listed as "out". only QB, RB, WR, TE, and K  
2. Open protoblock desktop or mobile app, and place a sell order - Sell 100 at a price of 0!
3. Check twitter to confirm trade at 1

3.  Content Creators Bounty

4.  Marketing Bounty
25,000 Fantasybit coins available for marketing protoblock through social media. The objective is to market protoblock.

5.  Sales Bounty

Purpose: to incentivise prospecting and working leads and closing
Exchange Listing(s) - 150,000 FB
Affiliate/Partner Signup - 25,000 FB
3rd Party to write feature articles - 10,000 FB
Major blockchain event speaking engagement - 7,500 FB
CoinmarketCap listing - 7,500 FB

White Paper:
Source Code:
Medium Post:
Explainer Video:

Download Protoblock
Desktop Full-Node: Windows - Mac
Mobile Light Client: Android | iOS
2  Bitcoin / Development & Technical Discussion / I just published “On Proof-of-Skill” on: August 09, 2018, 06:50:59 AM

Proof-of-Skill Decentralized Consensus

Thus far, all proposed alternatives to Proof-of-Work have failed to live up to expectations. Leaving many in the bitcoin community convinced that this is a fools errand, and react to any mention of Proof-of-Stake with a roll-of-eyes and loss of attention.

This post will first breakdown blockchain consensus algorithms and come up with properties and a framework needed for reaching decentralized consensus. With a key finding being the need for data from outside the blockchain to be known inside.

Then Proof-of-Skill is described as a new consensus algorithm that works by using external data that already has decentralized consensus. This data, derived from major sporting events, is used to generate coins which are then distributed to users based on the skill of predicting said sporting events. These skill coins combined with Nxt Forging is then used to reach distributed decentralized consensus.

Double Spend Problem
Blockchain based digital currency are transferred when a sender digitally signs a transaction. The transaction is then broadcasted and propagates through the entire network. However, since it takes time to propagate, how can the receiver know that the sender didn’t “double spend” the same coins? When a double spend is attempted, half the network thinks receiver-A gets the coins, and the other half thinks receiver-B gets the coins.

Solving the double-spend problem, while maintaining censorship resistance, requires a decentralized distributed consensus algorithm. Every N minutes, a pseudo-random node on the network becomes the oracle and gets to decide which receiver gets the money. He does this by packing the transactions into a block with “Proof” that he is the oracle and broadcasting the block to the network.

For this system to work, all the nodes need to independently verify this “Proof.” For the block signer to be pseudo-random, the “Proof” has to be a result of a pseudo-random process.

Consensus Algorithm Properties
Based on findings above, we can deduce two properties required of a consensus algorithm:

Property #1: A problem must be independently derived by all nodes, using only the information contained in the blockchain.

Property #2: The solution must be independently verifiable by each node.

Proof-of-Work algorithm:

The block hash must contain N leading 0’s.
Nodes can independently verify the solution by running the SHA256(block) — and counting the number of leading 0’s
Proof-of-Work can be thought of as finding a needle in a haystack. In order to find the solution, a miner would run SHA256(block) over and over again with just a small change to the block header. This is done by incrementing a counter, also known as a ‘nonce’.

Proof-of-Stake algorithm(Nxt):

‘Public-key of block-signer’ plus ‘previous block-signer’ must hash to a value less than X times the ‘block-signers balance’ times ‘the number of seconds since last block’
Nodes can independently verify the hash by running: SHA256(pk(block-signer) + pk(prev-block-signer)) < X * balance(block-signer) * seconds-since(prev-block)
Proof-of-Stake can be thought of as a lottery. Each coin holder has a different lottery ticket. The number of coins held determines the probability of winning. The more coins one has, the higher the chance of winning the lottery.

PoW as a ‘needle in a haystack’ system vs. PoStake as a ‘lottery’ system.
Stress testing consensus algorithms
Blockchain consensus algorithms only work if they cannot be manipulated in such a way that a single entity has the ability to sign a majority of blocks. Lets stress test…

PoW: The block hash must contain N leading 0’s.
Proof-of-Work consists of finding a block with N leading 0's. This can only be done in brute-force by incrementing the nonce with many parallel computers. However, the block difficulty increases each time a block is found faster than 10 minutes, requiring more processing power. It turns out that the energy cost of processing POW makes it an even playing field. Consensus verified!

PoStake: SHA256(pk(block-signer) + pk(prev-block-signer) ) < X * balance(block-signer) * seconds-since(prev-block)
Proof-of-Stake can be stress tested on the right or left side of the inequality. On right side, we can try buying more stake. But that is prohibitive because of the costs and as you buy more stake you incentive to be honest increases. So far so good…

On the left side - we have pk(block-signer) — which is our public-key. Since we generated this key our-self, we can just try to generate many keys over and over, until we win the lottery. We can do this block after block after block! It turns out that PoStake degenerates into PoW, making PoStake irrelevant. Consensus failed!

A Third Property of Consensus Algorithms
Both PoW and PoStake fulfill the two properties discussed above. However, PoW reaches consensus while PoStake does not. So what is PoStake missing? Looking carefully at PoW, we see the nonce is the one piece of data from the real world, outside the blockchain.

Property #3: External effort must be implicitly tied to the block signer through Proof.

Scope limited to “just” solving Consensus
Scope of this post is limited to describing an algorithm that reaches distributed decentralized consensus, for purpose of blockchain synchronization and double-spend avoidance.

Goal of Proof-of-Skill is to be the second true consensus algorithm after Proof-of-Work, and ultimately rely on Bitcoin for fiat liquidity. With Bitcoin as a backstop, the scope is farther limited to reaching consensus in the context of utility. For bitcoin, the utility is the worlds electronic cash. For Protoblock, the utility of Fantasybits is monetizing the skill of predicting sporting events and hedging external sports gambling risks. Utility comes into play when looking at incentives of attacking ones own stake.

Theoretical attack surfaces meant to counter-act economic incentive structures are not addressed in the post. These includes things like:

Selfish mining “economic attacks” in POW, where a miner loses money in the short term, for the purpose of sabotaging his competition, to force him to join his coalition to 51% attack the network.
Stealing stake in POStake, to counter-act the cost of buying enough stake to mount an attack.
Taking a large short position on a coin, to counter-act the cost of mounting an attack.
Suspending Beliefs
Distributed decentralized consensus is mathematically impossible. Satoshi took a practical approach and gave us Bitcoin with PoW, a probabilistic solution to the impossible. Nocoiners are still refusing to suspend their intuitive belief that bitcoin is impossible.

Bitcoiners are now falling into that same trap. Yes, PoS is impossible. No, we have not seen a real non-currency use case that requires a separate public blockchain. But suspending our beliefs is what got us all here!

Professional Sports: Consensus in a Human Phenomenon
Major public professional sporting events are considered a phenomenon, where up to 1.5 billion people watch the same thing at the same time. And after the game, billions of dollars in bets are settled based on the final score. On top of that, thousands of statistics are compiled and normalized into ‘Fantasy Points’ and billions of more dollars are awarded to winners of fantasy sports contests. All this without any central authority! In fact, humans have been reaching decentralized consensus on major public sporting events since the Roman times.

The 2015 Cricket World Cup was watched by 20% of the worlds population. A true phenomenon.
In theory, there already is consensus on major sports data, but how does the data get into the blockchain without a centralized oracle? The actual implementation requires 66% of stake to sign, but users can appoint Data Agents for practicality. Full details are found in the 2014 white paper: Distributed Engineered Autonomous Agents : Satoshi Fantasy.

Outside data that already has decentralized consensus can now be brought into the blockchain without an oracle
Full Consensus is Consensus
If “everyone” agrees on something, you already have consensus. What is often misunderstood about blockchain, is that from the point of view of each individual node, they are always in consensus rules. Even when rules are changed, and your node hard-forked off the main chain, all your node knows is its current consensus rules. Since you will only connect to nodes that are on the same chain, it follows that you and your peers will always be running the same consensus rules. This is exactly how UASF accomplished its goal of forcing segwit adoption. By only listening to miners who were signaling for segwit, the result will always be that 100% of the “network” is signaling.

Long Range — Nothing at Stake
Proof-of-Stake is a class of algorithms that only use data from the blockchain to chose the next block-signer. The major issues with PoS are:

Nothing at stake (N@S) — when you are presented with a natural fork in the blockchain you are forced to choose one to work on in POW, with POS there is nothing stopping you from signing blocks on top of both heads, just in-case the other one survives. N@S has a known Slasher solution, where punitive rules put your stake at stake, to dis-incentivize extending multiple chains.
Long-Range Attacks (Stake Grinding) — As described above, you can “grind” through the historical data that was used to choose the block-signers, and rewrite history so that you version of the blockchain is stronger and better then the “real” version. A new node, has no way to tell the difference.
PoS just doesn’t work, it’s a logical tautology. It expects you to use the content of the blockchain to decide the content of the blockchain. Gregory Maxwell
As we looked for a solution to stake-grinding, we see a glimmer of hope in the classic 2014 post On Stake by Vitalik Buterin

POS fundamentally resolvable
The idea is simple, to stop stake grinding, we make the set of block-signers and their public-keys static. We use the Nxt algorithm, which does not use the contents of the block to choose the next signer. So now there is nothing to grind! Delegated-Proof-of-Stake (DPOS), used in bitshares, steem, and EOS, has a similar concept, where there is a known list of 21 static “validators” signing all the blocks.

This idea may work, provided we have a known list of decentralized pseudo-randomly chosen block signers. It would almost be like having all the POW miners find the lowest hash all at once and then use them as the static list moving forward.

However, this problem of creating a list of decentralized block-signers is precisely the problem we are trying to solve in the first place, only from another angle. Since there is no way a list can be generated from the blockchain itself, there must be some real-world effort or information, just like Property #3 from above.

If you can Zero-Premine, you can create a static list of signers

Not only does PoW secure Bitcoin, it is also used to distribute new coins. Taking a step back, we could argue, that any blockchain that claims to reach decentralized consensus should be able to start with a Zero-Premine. In fact, the reason PoStake coins all have a 100% premine is that, otherwise, whomever gets the first coins will get all the coins. Again, this is all comes back to the same issue, where the only information available is what is contained inside the blockchain.

Show me a coin with a Zero-Premine and I will show you decentralized consensus
Protoblock is the first non-PoW chain with a Zero-Premined token. This is made possible by bringing sports data that already has consensus into the blockchain, via a continuous UASF like process.

Before the inaugural season of 2014, there were in-fact 0 Fantasybits in circulation.
After the first NFL game, and after every NFL game since, all nodes deterministically generated 100 Fantasybits for each Fantasy Point scored in the NFL.
All coins, 100% of coins, are then deterministically awarded, by all the nodes, independently, to known users wallets based on the accuracy of their projections.
Before each games anyone can create a wallet and sign a projectionTransaction
signed_transactions {
    trans {
        version: 1
        type: PROJECTION
        [fantasybit.ProjectionTrans.proj_trans] {
            season: 2016
            week: 1
            playerid: "1321"
            points: 12
    id: "e682b5e001882b0336c1ed46913bf5c09bd6d768c6446a050a510c1e7217d261"
    sig: "5dzQN1XuMd5vkJoqBcGk3H5bZ3oXb9BAZJeNe1qKqzpgGbMC2R1ziNguahydqXJpMtXmPG2oY7Eao3V UJk6L53zE"
    fantasy_name: "@SpreadSheetFF"
Example signed projection transaction by @SpreadSheetFF, for 2016 Week 1, playerid “1321” — projecting 12 Fantasy Points
player 1321 — Marqise Lee scored 4.2 Points = 420 Fantasybits
Marquise Lee scored 4.2 fantasy points from 2 Receptions and 22 Receiving yards. @SpreadSheetFF predicted 12 points. According to the distribution algorithm, he gets 0 coins. The 9 users who projected 5 points will split those 420 virgin coins.

Schedules, player data, gametime, and game results are all external data brought into the blockchain, which already reach decentralized consensus on the outside, and does not need a centralized oracle.

Fantasybit are a token of the skill of predicting NFL statistics.
FantasySkill as the decentralized static signer list
All virgin FantasyBits generated and distributed actually have two parts. FantasySkill (Skill) and FantasyBit (Stake).
Skill is tied to your public-keys forever and is non-transferable
Stake is the typical cryptocurrency counterpart. So when you first transfer your virgin coins, the Skill remains and you only trasfered away the Stake
Now we have FantasySkill, a static list of public-keys that were generated from a Pseudo-Random decentralized process of predicting NFL statistics!
FantasySkill is used to determine block-signers in Proof-of-Skill
Proof-of-Skill — putting it all together to reach consensus
Property #1: Known problems are the thousands of random data points from the upcoming games which comes from the Schedule data that has consensus

Property #2: Results are independently verifiable by each node operator by bringing his own feeds or ultimately re-watching the games and scoring the results

Property #3: Efforts of obtaining the skill of predicting NFL FantasyPoints over the past 1–30 years, is implicitly tied to the key of the block-signers

The actual Protoblock Proof-of-Skill algorithm is straight forward
Nxt Forging algorithm is used over the static set of FantasySkill holders
SHA256(pk(block-signer) + pk(prev-block-signer)) < X * FantasySkill(block-signer) * seconds-since(prev-block)
Slasher is used for N@S, where if you are caught signing multiple chains, your will lose some of your Skill. So now your Skill,and block-signing rights IS at stake.
The list of FantasySkill holders is static, which solves the Long-Range-Stake-Grinding attacks. Approx 5 million skill coins are added to the static pool each year, keeping it fresh with new incentivised stake holders.
There is real world effort required to obtain Skill in predicting NFL data, which comes from outside the blockchain, so it cannot be easily gamed.
Joe Public Friendly Verification
For a user to verify that the blockchain is in a good state, all he would need to do, is confirm that the NFL schedule and the results are correct. Everything else falls into place with the assumption that Skilled predictors are sufficiently distributed among the masses.

Compare this to PoW. How can one verify that in fact the work is correct? You would have to check the code, make sure its correct, compile the code, then test the code. But in reality, you are just trusting your bitcoin core software, and relying on a small group of specialized bitcoin coders, to sound the alarm if something was wrong.

Sybil Attack Mitigation
Sybil attacks are a real threat and are mitigated by requiring a small amount of coins in an account in order to make projections. However, even without this mitigation, the threat is manageable. There are 40⁶⁵⁰ total possible projection combinations for each week. Attackers would need to create 40⁶⁵⁰ accounts, and would finish with a perfect week 1. However, for week 2, there is no way to have the same account score perfect. So he would end up with lots of Fantasybit stake, with uncountable many accounts with low Skill value. All we need to do, to mitigate his block signing, is to put more weight on higher Skill balances, which would force the attacker to ensure the same accounts win each week, and this can only be done with real skill. In the end, those will real skill, will always be at least equal to the attacker. Either way, the attack would be evident and we would/could consensus fork, or just charge a small fee for each projections.

Fantasybit Utility
Protoblock is a distributed decentralized futures/forwards exchange for hedging and speculating in the $50B fantasy sports markets. FantasyBit, the stake part, is used for margin when trading on the exchange. We have up to 1200 contract available to trade now, live, and in production. Our blockchain was written from scratch over the past 4 years in C++/QT and currently runs on Windows and OSX. There are also light clients for iOS and Android.

Utility is similar to Augur, but only for our specific NFL data that already has consensus, and is in the blockchain. No oracles needed.

The code is now open source and there there was no ICO nor preMine. We have been “live” since 2014, so there around 20 million coins are in circulation (based on 200,000 Fantasypoints scored by NFL players).

Each year from September through December, there will be around 5 million more coins up for grabs, and in 2018 almost every early adopter will earn coins. Actual expert skill would come into play in the future when blocks start reaching capacity.

3  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN] [ƑɃ] Fantasybit Sale Live ⛓ Proof-of-Skill Blockchain 🏈 Fantasy Sports 🏈 on: December 30, 2017, 05:17:12 PM
***********************September 04, 2018, 09:19:15 PM Update ***********************************[/color]

ƑantasyɃit ⚒5million⇄Proof-of-Skill 🧚🏈 «PROTOBLOCK» 💰B⃝O⃝U⃝N⃝T⃝Y⃝💰 I̷C̷O̷

******************************************* **************************************


The Token of Fantasy Football Skill

ƑɃskill Sale is Live

Fantasybits are now on-sale for Bitcoin though our open source custom mac and windows desktop FBSale app

Sale Specifications

Each Fantasybit coin from sale will have both Skill (ƑɃskill) and Stake (ƑɃstake)
ƑɃstake is a cryptocurrency based on NFL football, and is utilized in our live decentralized Futures Exchange, for hedging and speculating on fantasy football.
ƑɃskill gives holders special block signing rights in our Proof-of-Skill blockchain. ƑɃskill is not transferable. If you transfer ƑɃ from the sale at some later date, only the ƑɃstake is actually transferred. The ƑɃskill remains tied to your keys forever. It is this property that enables our POS decentralized consensus, without the wasteful and slower Proof-of-Work!

What do you get?                      What can I do with it?
Fantasybitskill                        Mine blocks with Proof-of-Skill
Fantasybitstake                        Hedge and speculate in Protoblock distributed fantasy futures exchange

How to buy?
Step 1: Download FBskillSale Desktop Software
Step 2: Claim name - your Fantasybit wallet address
Step 3: Save 12 word secret
Step 4: Send bitcoin your personal funding address  
Step 5: Check balance with FBskillSale App  or Protoblock Mobile and Desktop Apps

  • ~20,000,000 coins in total
  • ~15,000,000 already distributed based on the blockchain protocol / Protoblock projections game
    awarded in a distributed way to over 500 mostly non-technical users with many keys lost
  • ~5,000,000 controlled by Protoblock
  • 2.5 million sold in this sale
  • 2.5 million for devs and possible second sale

4  Other / Off-topic / [ANN] ƑɃskill on: December 29, 2017, 09:29:27 PM
this is my test
5  Bitcoin / Bitcoin Discussion / Defensive Nuclear Weapon - Armageddon Avoidance - Proof-of-Coinbase -poison pill on: March 19, 2017, 01:48:31 AM

Bitcoins Nuclear Option - A Defensive Weapon for Armageddon Avoidance   
Proof-of-Coinbase (POC) -  Poison Pill   

BTC refers to the post-fork bitcoin-core / SegWit fork of bitcoin
BTU refers to the post-fork bitcoins unlimited fork of bitcoin

Bitcoin Nuclear Option (BNO) is a Bitcoin Unlimited (BU) repellent system. It is a built-in nuclear weapon that will act as the last line of defense during a post contentious hard fork in the face of a BU 51% attack against BTC, when BTU has at least 85% hash-power. It is a poison pill, that when made known to the “tl;dr” BU supporters and miners, it will act as a deterrent and we will avoid the fork in the first place.

BU is technically incompetent as a whole
BU is actively attacking a $18 billion dollar asset owned by all humanity
BU will attack with intent to destroy BTC and rename itself from BTU to BTC
Bitcoin will die if above is true

BNO is a bitcoin fork that activates with the same protocol as BU hardfork. The post fork BTC will not be POW for even a moment. Once the fork occurs there are two coins BTU, with sha256 POW and BTC with POC. NBO activation in core code will be based on 95% signaling, and since its post-fork, BU signaling blocks will not count. All BTC forks by core would essentially be non-contentious.

Objective: To stop bitcoin from forking.
Mechanism: A poison pill that activates with BTU fork.
What:  A change from POW to POC on BU activation
Result: Existence alone should compel miners to avoid BU signaling.
How: POC gives all the money to non BU signaling miners, making it unprofitable to signa BU   

If successful, BU will never be activated, similar to the success of Nuclear Weapons as a defensive deterrent.
BNO is an offensive weapon meant to prevent an attack the same way nuclear weapons are used as defensive deterrent mechanism.

BNO takes the playbook for the Chinese Central Bank.
Chinese Central Bank “manipulates” it currency by setting caps and floors. However the yuan trades in many free open markets, so how does it actually defend against the cap?

Instead of fighting the market head-on, it uses a strategy where the market itself never tries to test them. It makes it known to the public, that it went short trillions of dollars of call options at the cap price.  Market assumes that China will defend it position, so trying to buy above that price is all risk no reward.

They avoid a costly battle against the open market by pre-emptivley putting a “poison pill” at their cap price, that they would have no choice but to defend with everything they have.

BNO is a poison pill, where its existence alone should avoid it ever getting signaled!

BNO Strategy
In the context of a bitcoin armageddon. ie; a post fork and imminent 51% percent attack of BTC from BU leaders
Implementing BNO in core and describing its effects, should deter BU activation.
  • Threat itself disincentives miners from signaling BU
  • POC rewards miners for signed blocks without a BU signal
  • Best case - BU never signals, the status quo - cold-car
  • Worst case - BU and BNO gets activated, and BTC instead of getting killed by a BU 51% attack, is now POC and immune from BTU hash-power attack

-- BNO get activated on BU activation
-- The first post fork block is no longer POW, but POC.

Each pre-fork mined block with BU signal, gives that miner one less opportunity to “mine” post-fork blocks in BTC.

Assuming majority of bitcoin economic activity remains with BTC, BU miners just lost most of their infrastructure investment and are limited in the number of block-rewards they will ever receive in BTC. On the other hand, miners whose blocks did not signal BU will get their full share of  the remaining block-rewards and TX fees for the foreseeable future.

Before describing POC and debating its merits, it is important to understand that by giving away large amounts of future bitcoins to non BU signaling block miners, many miners will stop signaling BU. This itself should ensure BU and BNO never get activated.

To be clear: BNO activation is not in anyone's best interest, and would only get activated as the final and last line of defense, when BTU forks off BTC with 85% hash power and initiates a 51% attack on the economic chain of $15 billion.

POC is a Proof-of-Stake like system, but it is immune to the issues with POS, like “nothing at stake”  and “stake grinding” or “long-range attacks” .

Virtual Perpetual Mining Rig
The idea, described by others before, is to use POW from previous blocks to build a virtual mining rig.
  • Miners who solved POW would secure the private-keys that controls the outputs from the coinbase transaction in each block
  • The set of all public-keys from coinbase outputs is used as the “Stake” in POS
  • Even when the coinbase coins are transferred, the “Stake” keys do not change

POS is a controversial and highly debated topic, but with some specific properties it can be as secure as POW (and alot faster).

Again, to reiterate, the point here is not to debate if and how it will work, but to point out what will happen if it does in fact work. Which should stop it from being signaled in the first place.

Theorem 1:
Distributed Decentralized Consensus (DDC) can reached via “proof-of-stake” if the following conditions are met:
1) Stake is static and is immutably tied to a specific public-key
2) Block signer selection algorithm is independent of the contents of any block data.
3) The set of public-keys in the selection algorithm was created from a Distributed Decentralized Consensus (DDC) protocol.  
*see proof

Using a static set of public-keys from historical POW as the “Stake”, and not using contents of the block to determine block-signer, removes “long-range” or “stake-grinding” attack vectors, and enables “byzantine consensus” via proof-of-stake.

POC Algorithm
  • Coinbase in Proof-of-Coinbase is defined as the  set of public-keys from coinbase outputs of non BU signaled blocks since block n
  • Coinbase set is static and immutable, and is used in lace of Stake in POS consensus algorithm
  • NXT POS (forging) algorithm is used to determine the next block signer from the Coinbase set.   
    Note: no TX or Block data is used in determining right to sign next block. See:

POC is a pure POS system where public-keys from coinbase tx from non BU signaled blocks are the stake, which give miners block signing rights.

NXT forging algorithm is used to decide who gets to sign the next block. This algorithm DOES NOT use the contents of the current or previous blocks to determine next signer, so “long-range” attacks are eliminated.  Slasher is used to solve “nothing-at-stake”.

All other theoretical issues, and centralization concerns are debatable. However these risks are acceptable in the context of a poison pill used as a defensive mechanism to a 51% attack 

In practice, most private-keys from old coinbases are probably not secure, so we should have a start point from where to start using coinbase keys as “stake” so miners can start securing those private-keys, even after coins are transferred way.
Proof-of-Coinbase turns the mining hardware of non BU signaling miners into  “virtual perpetual mining rigs”, and they will earn block-rewards indefinitely. While miners with all BU signed blocks will not earn a single BTC block reward.
This poison pill, makes BU signaling less attractive as BU gets closer to activation, which will bring BU hash power down. 
A (Nash)  equilibrium should emerge below the BU activation threshold, and BU should never be signaled. which was the objective of Bitcoin Nuclear Option.

Pseudo Proof - attempted

*Theorem 1 Proof:  Must show one case of DDC reached via POS algorithm
Lemma1: POW is a DDC protocol
Lemma2: POW produces a set of public-keys tied to the coinbase.
condition #3 met

Lemma3: a random sampling from a set of keys in Lemma2 is a DDC protocol.
Corollary: assuming no collusion, a deterministic sampling is a DDC protocol.
Corollary: sampling Lemma2 set, in block order, in an infinite loop is a DDC protocol
         condition #2 met

Lemma5: we define “stake” as the Lemma2 public-keys which is static and immutable
         condition #1 met
Theorem proved by defining “Stake” as the public-keys of all coinbase TXs from discrete set of historical POW blocks, and defining the Block Signer Selection protocol as ordered by “block number”  and looping at highest block in set.



6  Alternate cryptocurrencies / Announcements (Altcoins) / [PRE ANN][ƑɃ] Fantasybit - Fantasy Football - Proof-of-Skill - Protoblock Apps on: December 21, 2016, 04:42:10 AM
see ANN Thread:

***********************December 11 2017 Update ***********************************

ƑɃskill Sale Live! Fantasybit token sale App

******************************************* **************************************

***********************November 9 2017 Update ***********************************

Custom Token Sale Software Development - Follow Github Project and Watch us Code

desktop/mobile wallet-app software to facilitate ƑɃskill token sale via in-memory bitcoin wallet ,osx, win64, ios, android

******************************************* **************************************

***********************March 1 2017 Update ******************************************************
Protoblock token sale announcement has been postponed indefinitely.

  • Unlike the plethora of ICOs, we intended to have a true Digital Token Sale.
  • Digital assets are created and sold by a company to its end users, just like a real-world asset.
  • We are taking the conservative approach to avoid the risk of our Fantasybit token being lumped together with ICOs intended for speculative investments.
  • Fantasybit tokens are intended to be used in our Protoblock Apps, and have no investment value whatsoever.

Typical ICO                                                         Intended Fantasybit Token Sale
Used to fund development                                   Protoblock Apps already developed
Can be immediately sold after ICO                       Fantasybits only used in Apps, cant be transferred.
Meant to attract spec investors seeking profits      Meant to attract techies to play our games.
Open to all, multi currency, crypto and fiat.          Only via bitcoin "Exodus Address” to Fantasybit “Genesis”

2017 Protoblock Projections game begins in September where you can earn free Fantasybits.
2017 Fantasy Football Season Long Futures Trading to begin in coming weeks.


Protoblock Announcements (formerly Satoshi Fantasy)

Fantasybit Crypto Token Sale for May 2017.  Join Protoblock Slack (link) to get involved now.  

****************edit: season over
It's the final week of the 2016 Protoblock Projection Game - last chance to earn free fantasybits until next NFL season.  
Download APPs now at and get started in 30 seconds.  


Fantasybit Token
  • Proof-of-Skill
  • Minting based on Professional NFL Player Game Stats
  • Distributed in Protoblock Projection Game
  • Zero Pre-Mine
  • Ticker Symbols:  ƑɃ

Protoblock History
Season1 - 2014
April 15 2014 - White Paper
Bitcointalk [ANN] Satoshi Fantasy - Fantasybits
Public Launch ANN - Plug and Play Tech Center
Distributed Protocol implemented on twitter

Season2 - 2015
Marketed As Trading.Football
Full Node Apps - Windows and OSX
Fantasy Football Forwards Smart Contact Trading Game launched for Week 15/16 (December)
the-first-ever-blockchain-based-fantasy-football-prediction-market-is-already-here (cryptocoinsnews story)

Protoblock Current
Season3 - 2016
Name change from Trading.Football / Satoshi Fantasy to Protoblock.
Protoblock Android Light Client App- Google Play
Protoblock iPhone/iPad iOS Light Client App - Apple App Store
Protoblock OSX and Windows Full Node Desktop App - C++/QT/UI/UX

Fantasy Football Forwards Smart Contact trading Exchange Live
Preaseason (Aug), 2016 Season Long Contracts Trading Launch
Week 13, Weekly Contracts Trading Launch

Protoblock Upcoming
Season4 - 2017
2017 Season Long Fantasy Football Forwards on blockchain Smart Contracts Target Launch February.
Fantasybit Crypto Token Sale Target Date May 1
Sept 2017 NFL Week1
Protoblock 2017 Projections Game/Fantasybit Skill mining and Distribution
Milestone: Full P2P Distributed Network + Proof-of-Skill consensus  Launch
Blockchain Code Open Sourced

Season5 - 2018
Milestone: Fantasybit Transfer Transaction - 3rd party exchanges ( full compliance with US Laws and regulations)
Milestone: Full Proof-of-Skill UTXO State
Full Nodes Code Open Sourced

Protoblock Innovation
  • NFL Players Mint ƑɃ by playing Football
  • 1 Fantasypoint == 100 Fantasybits
  • Distributed to "Fantastynames" with most accurate Projection for that player - Fantasy Football Skill Required
  • Provides both Randomness and well known public Game Result Data

Virgin Coins are both ƑɃ and ƑɃskill
  • ƑɃskill is always tied to coinbase tx address (not transferable)
  • Transfer tx will send only ƑɃ, which is then detached from ƑɃskill.
  • Fantasyname for ƑɃskill ~ Wallet Address for  ƑɃ
  • Projection TX for ƑɃskill ~ Transfer TX  for  ƑɃ
  • State Transitions for ƑɃskill ~ UTXO State for  ƑɃ

ƑɃ Utilized as margin, on Blockchain, for Trading Fantasy Football Smart Forward Contracts
Decentralized Distributed Exchange
Deterministic Matching Engine
Fantasy Player Price Discovery
Fantasy Ticker Feed via Twitter
Why Token Sale?
  • Wider Distribution of ƑɃskill
  • Token buyers more technical and will run stronger full nodes then average Fantasy Football Players
  • Aligns incentives for a strong stable coin

Which Tokens are for Sale?
  • FantasyAgents' allocation of tokens from Season1 will be for sale.
  • Distributed Engineered Autonomous (DEA) Agents, as described in our white paper, are responsible for data and timestamps.
  • The default agent, "FantasyAgent" is our "satoshi".

We believe that value from blockchain comes by aligning incentives for all parties. When it comes to developent and design we find pragmatic and practical solutions to difficult problems.
  • JayBNY wrote the white paper and most of the code.
  • Thousands of lines of C++/QT code will be open sourced.
  • We are open to Ethereum, Bitshares, Factom, CounterParty or NXT Assets for token sale accounting.

Proof-of-Skill Details
We will use a very similar algorithm to NXT POS "forging" for our block signer selection algorithm. The fact that ƑɃskill is non transferable solves the problem of "stake grinding".  We use a kind of "slasher" technique to solve the "nothing-at-stake" problems with POS.

Our Proof-of-Skill solves POS issues and has been seen in other papers and designs with different names such as:  
  • Bergstake
  • Virtual perpetual Mining Rig
  • Proof-of-Proof-of-Work

  • NAT
  • p2p distributed network (clone)
  • Token sale asset and wallet
  • Coin design and UTXO with multisig and Atomic bitcoin operations
  • Fantasyname Anti-sybil cost structure.

How to get involved
We are only a couple of devs and looking to build a true distributed community. We need your help!  please come chat with us in out Slack (link) to discuss.  

Fantasy Football is a 12 billion dollar revenue industry and legal in most of the US. We plan on staying the App stores and working with regulator to comply with all US laws.

We will follow up with an ANN in February with more details on Token sale.  
***********************March 1 2017 Update ******************************************************Protoblock token sale announcement has been postponed indefinitely.

  • Unlike the plethora of ICOs, we intended to have a true Digital Token Sale.
  • Digital assets are created and sold by a company to its end users, just like a real-world asset.
  • We are taking the conservative approach to avoid the risk of our Fantasybit token being lumped together with ICOs intended for speculative investments.
  • Fantasybit tokens are intended to be used in our Protoblock Apps, and have no investment value whatsoever.

Typical ICO                                                         Intended Fantasybit Token Sale
Used to fund development                                   Protoblock Apps already developed
Can be immediately sold after ICO                       Fantasybits only used in Apps, cant be transferred.
Meant to attract spec investors seeking profits      Meant to attract techies to play our games.
Open to all, multi currency, crypto and fiat.          Only via bitcoin "Exodus Address” to Fantasybit “Genesis”

2017 Protoblock Projections game begins in September where you can earn free Fantasybits.
2017 Fantasy Football Season Long Futures Trading to begin in coming weeks.


***********************December 11 2017 Update ***********************************

ƑɃskill Sale Live! Fantasybit token sale App

******************************************* **************************************
7  Bitcoin / Bitcoin Discussion / Lets remove the signature part from the transactions to fix the 1MB limit issue. on: January 25, 2016, 03:53:16 AM
ive done some research spoke to some core devs in miami. so far, I have not heard any real negative of the core plans, nothing that should cause anyone to abandon bitcoin for a new alt.

please enlighten me,.

sigwit - segregated witness - sounds complex. is really simple.

  • The block size limit is 1MB.
  • sigwit - will remove the signatures from the code that calculates the size, so the older software clients will not break.
  • for post soft-fork clients this is just an implementation detail of increasing the blocksize.
  • so win-win - increase block size, dont fork the coin.   

I have not heard any real negative of the core plans, nothing that should cause anyone to abandon bitcoin for a new alt.

please enlighten me,.
8  Bitcoin / Press / [2015-12-16] businesswire -Satoshi Fantasy Launches the World's First Blockchain on: December 16, 2015, 06:29:15 PM

Satoshi Fantasy Launches the World's First Blockchain-Based Prediction Market for Fantasy Football Results

Groundbreaking Trading.Football Platform Delivers First Gamified Forwards Exchange for Buying and Selling NFL Players, Generating the Most Accurate Fantasy Football Valuations

Marks the First-Ever Recorded Price on Risk-Adjusted Fantasy Football Results

New FantasyTicker Available on Trading.Football with Dynamic Player Trading Prices and Charts; Available Now for Free at

December 16, 2015 09:00 AM Eastern Time
SAN FRANCISCO--(EON: Enhanced Online News)--Satoshi Fantasy, LLC, a leading technology company and pioneer in distributed fantasy football, is proud to announce the launch of the world’s first prediction market for fantasy football results on the new Trading.Football platform.

“All too often success in fantasy football is determined by luck. When faced with critical lineup decisions, your average fantasy player must either go with his or her gut, follow stale ranking lists, or painstakingly gather information from multiple paid services”
Available now for free at, Trading.Football’s revolutionary market intelligence is powered by the community’s action of projecting weekly point totals for more than 500 NFL players and trading those players on an open, gamified exchange. Satoshi Fantasy introduces blockchain technology to fantasy football for the first time, utilizing proven protocol to fuel the decentralized predictive market of Trading.Football. Player prices, stats and charts generated from Trading.Football are displayed in a streaming FantasyTicker that users can follow to receive the most accurate, market-driven intel in the fantasy football industry.

“All too often success in fantasy football is determined by luck. When faced with critical lineup decisions, your average fantasy player must either go with his or her gut, follow stale ranking lists, or painstakingly gather information from multiple paid services,” said Jay Berg, founder and CEO of Satoshi Fantasy. “Our goal is to disrupt the fantasy football industry by creating the first proven, decentralized prediction market for fantasy football. By combining cutting-edge blockchain technology with old-school efficient markets, Trading.Football becomes the first open, gamified exchange for buying, selling and hedging NFL player results for fantasy football. As a result, we’re creating a game that levels the playing field for fantasy football fans and giving all users a smarter way to make lineup decisions.”

Trading.Football is designed for all fantasy football fans, from experts to casual players. The platform’s foundation is made up of a Trader community that make projections on NFL players’ fantasy results, and based on the accuracy of their projections are rewarded tokens in the form of FantasyBits. Traders risk their hard-earned FantasyBits in an attempt to profit by buying when a player is undervalued and selling when a player is overvalued. The act of buying and selling with profit and loss, even on a gamified exchange, creates an efficient market, which generates an NFL player’s price that reflects all relevant information. Traders will now be able to demonstrate their raw fantasy skills by directly speculating on or against a fantasy football player’s production. Whether actively involved as a Trader or simply looking for the most up-to-date stats and values for football players, follow Trading.Football’s FantasyTicker at and receive automated tweets on market moves by following @TF_Ticker and @SatoshiFantasy.

Trading.Football utilizes blockchain technology to secure and verify the community’s projections and reach distributed consensus on NFL player results and FantasyBit rewards. FantasyBits are rare, with 100 FantasyBits minted for every fantasy point scored each week by NFL players. FantasyBits can only be earned with raw fantasy football skills, which is determined by Trading.Football’s groundbreaking “Proof-of-Skill” consensus algorithm. FantasyBits act solely as tokens on the Trading.Football platform and cannot be traded for real currency. The FantasyBit protocol was publicly announced Week 1 of the 2014 NFL season, and the initial software was released one year later on September 7th for Week 1 of the 2015 NFL season. The Trading.Football platform is built on open source software. The protocol is detailed in the original Satoshi Fantasy white paper and the open source C++11 code on GitHub: For more information visit:

About Satoshi Fantasy, LLC

Satoshi Fantasy, LLC is a leading technology company and pioneer in distributed fantasy football. Trading.Football, the company’s flagship fantasy football product, is the world’s first block-chain based prediction market for fantasy football results. Founded in 2013 by Jay Berg, a former programmer
9  Alternate cryptocurrencies / Altcoin Discussion / Breakoutcoin discussion thread. on: October 06, 2014, 06:25:04 PM
please use this non moderated thread for anything goes discussions:
10  Economy / Services / Looking for altcoin developer asap on: July 31, 2014, 09:58:26 PM
looking for an alt-coin developer for a new coin scheduled to launch and of month.  will pay in usd, btc or newcoin..

please pm. 

11  Bitcoin / Project Development / [ANN] Satoshi Fantasy - Fantasybits on: April 16, 2014, 12:18:17 AM
see ANN Thread:

***********************September 04, 2018, 09:19:15 PM Update ***********************************

ƑantasyɃit ⚒5million⇄Proof-of-Skill 🧚🏈 «PROTOBLOCK» 💰B⃝O⃝U⃝N⃝T⃝Y⃝💰 I̷C̷O̷

******************************************* **************************************

Satoshi Fantasy is now Protoblock see new thread.

Hi Guys and Gal,

This is a project i've been working on for almost a month.

Thanks and Enjoy

Distributed Fantasy Football



Key Features:
  • proof-of-stake system, without pre-distribution
  • written in pure C++11, from scratch
  • Code ready for MVP release.

12  Bitcoin / Bitcoin Discussion / The Two-Bit Idiot vs Bitcoin Foundation on: March 08, 2014, 02:24:51 AM

Coup or Death for the Bitcoin Foundation?

Not a happy Friday, Idiots.


I have been extremely outspoken about the illegitimacy of the Bitcoin Foundation’s current board of directors and the dire need for immediate changes.  Only a swift and thorough overhaul of the Foundation’s leadership can preserve Bitcoin’s image with regulators, legislators and the general public.  It is unacceptable that the current leadership has not already announced plans to exit gracefully from their positions of power, despite the glaring incompetence and negligence of Chairman Peter Vessenes and Executive Director Jon Matonis.  

This must change.  Now.  

Behind the scenes this week, I solicited the input of dozens of leaders throughout the industry who represent many of the corporate sponsors and lifetime individual members of the Foundation.  The individual response has been nearly unanimous: these gentlemen must go, immediately.  However, the corporate response has been understandably tepid.  Truly good and professional executives have been caught between a rock and a hard place: Vessenes and Matonis are obstinate individuals who will be hard to force from their positions, and a public battle will cause additional media backlash for Bitcoin, which will hurt these executives’ businesses.  

I have no similar fiduciary obligations to maintain the peace.  

Moreover, I believe that it is only with proactive measures that we can truly wipe the slate clean from Mt. Gox.  Vessenes and Matonis are pioneers who deserve credit for their early work with the Bitcoin Foundation, but they have also outlived their usefulness in an industry that attempts to grow like the internet despite the inertia of the financial services community and the many regulatory and legislative roadblocks.  

And for better or for worse, with all of its blue-chip sponsors and leading role to date in events such as the Senate Bitcoin hearings and NYDFS BitLicense hearings, the Foundation is the mouthpiece for the entire industry.
Peter Vessenes and Jon Matonis are not scapegoats.  They are not innocent bystanders.  And they are not ethically entitled to remain in their board seats through later this year.  

On Monday, I plan to publish a full article which elaborates on these damning facts and much more:  

1) The Foundation never once warned Bitcoin investors about keeping deposits in Mt. Gox, despite clear red flags dating back to at least April 2013.  Nor did the Foundation craft or advocate for best practices such as technical transparency, deposit audits, or appropriate consumer protection disclosures.  This was a colossal failure of leadership.
2) There is evidence that Bitcoin Foundation board members may have had direct access to Mark Karpeles which allowed them to personally deposit and withdraw funds from Mt. Gox, despite persistent delays for other customers.

3) There is a troubling and inappropriate overlap between Peter Vessenes’ staff at his private company, CoinLab, and the Bitcoin Foundation’s staff, which goes far beyond shared office space.  

4) The current leadership has shown a stunning disregard for proper communications with its members.  The importance of immediate resignations (rather than gradual) is highlighted by the Board’s secret plans to move the Foundation’s headquarters to London without input from members and sponsors.

5) Peter Vessenes has had a nine month conflict of interest regarding Mt. Gox given that his company CoinLab was involved in an active multi-million dollar lawsuit against Mark Karpeles and Mt. Gox, following a failed partnership.  Both men remained on the board of directors, and the Foundation failed to draft adequate by-laws that would allow them to address situations such as this where directors had material conflicts, which would compromise their ability to act in the best interests of its members.

This egregious behavior and negligence may not be the worst of the information to come.  I have been unable to reach representatives of the Foundation for comment on a myriad of other accounting issues related to the treatment of member donations.


At this week’s Texas Bitcoin Conference, I was fortified by near-unanimous agreement (and, at times, applause) that the current leadership must resign or be forced out of their positions on the Foundation.  Yet I have also been warned that I am playing a dangerous game, with cunning and ruthless power brokers.  I have been discouraged by corporate sponsors of the Foundation not to make a public stink which would be “counter-productive” and “irresponsible” for Bitcoin.  Most would prefer to let the Mt. Gox scandal blow over, but I would rather wipe the slate clean definitively, blood or no.  

To the chagrin of the less confrontational, I plan to attack.  And in putting my personal and professional reputation on the line, I will attack ruthlessly, from the front, and (figuratively) shoot to kill.  

By Monday, I expect that either: a) Vessenes and Matonis resign gracefully from the board of the Bitcoin Foundation, and announce that their terms will end on an accelerated schedule which coincides with the already scheduled elections in April, or b) the corporate sponsors of the Foundation publicly distance themselves from the organization and clarify that the Bitcoin Foundation no longer represents the true interests of its members.

Otherwise, by Monday at 3pm ET / 12pm PT, I will post my full expose of the unprofessionalism and negligence of the Bitcoin Foundation.  (If I get hit by a bus this weekend, my lawyers will release it.)

In addition, and immediately upon publishing that expose, I plan to provide a collated and annotated document dump to Fortune and Wired to let them make their own professional judgments of the Bitcoin Foundation and our industry’s current leadership.  (I am doing this for free, I might add.)

On Wednesday, I will share those same documents with the broader media community, including the Wall Street Journal, New York Times, the Verge, Forbes, the Associated Press and anyone else who asks, and begin lining up on-camera media interviews with CNBC, CBS, Fox News, Al Jazeera and others who have expressed interest in this story to date.

I assure you, I am ready to go nuclear.  Because this is important.

Make no mistake: Peter and Jon will either step down from their leadership positions, or the corporate sponsors of the Foundation will quickly assemble and publicly distance themselves from the Foundation, writing off the organization as an illegitimate zombie entity.  I am posting an open letter calling for their swift resignations on Reddit and on the Bitcoin Foundation’s own Forum.

I hope to eat my article, keep the documents that I have to myself (and likely prosecutors as I am likely to be subpoenaed), and redirect the focus of the Bitcoin community from scandal and frustration to that of progress and innovation.

To Peter, Jon and their supporters:

You have 72 hours.


13  Other / Off-topic / stop! log off bitcointalk, and go do something productive! nm on: March 05, 2014, 09:39:28 PM

um. he hello?

is this thing o
14  Economy / Speculation / bitstamp critical support at 530 on: February 21, 2014, 01:44:02 AM
530 should hold.. looks like a buy here on bitstamp. gl
15  Economy / Service Discussion / bitcoinbuilder price vs gox/bitstamp - easy 100% arbitrage? on: February 20, 2014, 08:43:26 PM
currently goxBTC is trading at .5 realBTC on bitcoinbuilder, but  goxBTC/bitstampBTC is around .20  (110/575)

whats is going on here? either bitstampBTC < realBTC , or goxUSD is equal to 2 times realUSD?

am I missing something? cant someone with USD on gox, buy BTC and then sell it on bitcoinbuilder for a cool 100% profit?

16  Economy / Service Discussion / Reason why MtGox can go to 0 - without arbirage opportunity with Bitstamp on: February 16, 2014, 06:00:30 PM
I've been trading on MtGox since $2 BTC. Just want to give a layman explanation on how/why MtGox is trading at $250 while Bitstamp is still obove $600, and why the "no arbitrage theory" is not broken.

  • Assumption is that MtGox lost some BTCs due to the malleability hack. If we assume that Silk Road 2.0 did in fact lose the BTCs due to a hack rather than fraud, its makes sense that MtGox also lost a fair amount of BTCs. Also, im sure a thorough analysis of blockchain can confirm how many BTCs were "stolen" from MtGox.
  • So, if everyone withdraws all their BTCs at once from MtGox, there would not be enough BTCs for everyone.
  • Big deal? MtGox can just use its own money to cover the difference, and everyone would be whole.
  • So only real risk is that MtGox runs out of all BTCs and all fiat and is insolvent!
  • As MtGox BTCs price drops relative to Bitstamp BTC, more BTCs will be bought/withdrawn on MtGox, and the cost to MtGox to make customers whole also goes up
  • Its a vicious cycle, a snowball effect, and a game of chicken. Once prices started diverging, smart traders would "rather be in fiat, in case of insolvency". Also they can always buy even more BTCs with the same amount of fiat at a later date.
  • Hence the "bank run" on MtGox BTC. End game is: MtGox shuts down and liquidates, and is short BTCs.


17  Other / Beginners & Help / icbit - weird fees and weird fills/logs. on: March 13, 2013, 08:09:41 PM
1) I placed a market order to sell.. bid was 60.06, but order ticket shows price of 58.5.. yet logs do show the fill price of 60.06. So maybe its a display issue or they put a low limit price on all market sell orders.

but there is a bigger issue.. and I think here the issue with the exchange.

2) very sneaky... but it looks to me that the higher BTC/USD rate, the higher the fee.

"Fees 0.002 BTC for 1 contract trade. Settlement fee is 0.002 BTC for settling 1 contract"

fees are only .002 BTC per contract. but...

"Lot size  = 10 USD"

when BTC = 50USD the fee is 1% when BTC = 100USD the fee is 2% , each side. so its 2% and 4% round turn.

The issue here is that the fee and the contract size is in different currencies. The correct way to do this would be to make each contract 1BTC and quote it in mBTC (millibitcoin).  and change the min tick size.

So the current price would be 167 mBTC instead of 60 USD. 

18  Economy / Service Discussion / MagicalTux - let me translate on: June 21, 2011, 02:10:28 AM

Either your a scam artist or its a total miscommunication. I leaning towards the latter.

If your interested in explaining your side to the Americans, I would be happy to interview you off record and avoid the miscommunications due to language and culture.

However, if FBI is involved... bad move. im out.

Just call me anytime, I believe you have my number from my emails.


19  Economy / Service Discussion / MtGox Order API via WebScokets on: June 06, 2011, 01:22:37 PM
Does a WebSockets API exists for sending orders to MtGox?

If not how can I map an order I just sent to an OrderId for later cancelation?

There need to be a Execution API that sends ExecutionReports on an OrderId level.

Maybe FIX?


20  Economy / Trading Discussion / @newberg_feed - live with mtgoxUSD on: May 14, 2011, 04:19:38 AM
Stop wasting your time refreshing web pages for mtgox Bitcoin quotes. Have the quotes pushed to your twitter client.


new quotes will be published when there is a new high or low in price.  max 1 tweet per hour.

so if there is no tweet, you not missing anything go back to work..


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