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1  Economy / Services / Hedging A Real Estate Purchase With Crypto on: November 28, 2017, 06:41:29 PM
I was a broker (in a former life) and have been immersed in Bitcoin for over five years now. I believe I've come up with a way for buyers to protect themselves from a 2008 style collapse by using Bitcoin.

I'm not looking for any money at this time (donations would be accepted) but do need to get the idea and system tested. There are some potential mine fields (such as bank repercussions, civil legal disputes etc.) and the system adds yet another layer of complexity to an already complex real estate purchase but I think it would be worthwhile for all the parties (even the banks).

If someone had used my system five years ago and had put 10% down (in the form of Bitcoin) on a $200,000 property then the BITCOIN would be worth over 18 million dollars today. Rather than having a buyer sell their Bitcoin to use as a down payment, the Bitcoin is used as a security deposit and can continue to appreciate.

I've got a basic website started at BitcoinRealEstateHedge.co.

Feedback and discussion is what it's all about!


IF this system is used:

The buyer and seller essentially disintermediate the bank, the secondary mortgage market and the realtors from the equation.


Donations - seed money
1AZK3oWy6uGPShYjdPts4CzYvCUi3MH5ut
2  Bitcoin / Bitcoin Discussion / Pros and Cons Of A Country Doing "Bitcoinization" on: February 18, 2017, 01:56:45 AM
I ran across this article http://www.investopedia.com/articles/04/082504.asp about the idea that a country abandon the local currency in favor of the exclusive use of the U.S. dollar (or another major international currency, such as the euro). They call it "dollarization" so why don't we add "bitcoinization" to the discussion?

It also talks about the idea of "pegging" their local currency to a major international currency (this differs from dollarization as it is non-exclusive use).

So, what if countries start using Bitcoin in either of these ways? There are many (hundreds) of countries, some too small to really develop "counterfeit" proof fiat paper currencies. And with the proliferation of cell phones, digital money is just more efficient so they would be able to leap frog over the whole fiat fiasco by going right to digital.

So what might countries experience if they did allow Bitcoin an equal playing field to compete with other currencies that their populations are already using? Especially the type/size country the article is talking about (smaller ones).


Read more: Dollarization Explained | Investopedia http://www.investopedia.com/articles/04/082504.asp#ixzz4YzsnBALH
Follow us: Investopedia on Facebook
3  Bitcoin / Legal / Ask The IRS to define the dollar on: January 14, 2017, 11:27:11 PM
This video explains the legal issues involved when trying to find the legal definition of "dollar". Dr Edwin Vieirra has 4 PHDs from Harvard, is an attorney and member of the bar in many states and has argued cases successfully before the US Supreme Court.

here's where it matters with regards to the IRS. THEY have decided that Bitcoin is property and that i/when the owner sells it then the seller is responsible to report their gain (or loss) related to the value of the "dollar". Since the IRS creates and prints the forms and they are legal documents (signed under penalty of perjury) then it is VERY IMPORTANT to use the correct ;egal standard when reporting any income.

https://vimeo.com/2865332
4  Economy / Economics / Paper Fiat Economies VS Digital Fiat Economies on: January 10, 2017, 08:39:01 PM
One of my biggest pet peeves is financial and economics commentators talking about "printing money" by the Fed. With only 1% of domestic US money being in the form of paper and 99% of it being in digital form and only existing on computers, they (the FED) can create mega-train loads worth of digital "money" with a key stroke. They can cause ever-increasing and rapid boom-bust cycles quicker than ever before. By their nature, each cycle comes quicker than previous ones.

But that is just the US situation. There are over a hundred sovereign nations with their own currencies and each having different ratios of paper to digital money in circulation. The nation of Zimbabwe is probably the best demonstration of the inflation that can be wreaked with paper fiat. They had to remove twelve zeroes from their currency. Obviously, there is no need to do this with digital money.

But there is, I believe, a global pressure building because of the difference in the speed at which digital economies can infuse inflation compared to paper economies. The huge and rapid inflation caused by digital currencies cannot be absorbed by paper economies and, so, they are at severe disadvantages when attacked by outside digital fiat monies.

I picture each sovereign nation as its own tectonic plate. As a digital economy inflates it builds pressures along the places where it intersects with other plates. The pressure caused on one side of that plate get's transmitted against the other side and that plate pushes against yet others and so on. Just like the plates of the Earth build up pressure until there is a break which results in an earthquake, I've come to look at the global economy in a similar way but looking at each economic plate based on the percentage of its paper fiat vs. the percentage of its digital fiat. That ratio determines the plates ability to react to inflation pressures of connected economies.

Just a theory, thought I'd throw it up here.

And Bitcoin would enter in as something of somewhat of an escape valve that can alleviate pressures in different parts of the world (maybe even preventing an earthquake type reaction on a plate).
5  Bitcoin / Project Development / Earn & Learn Bitcoin on: January 04, 2017, 12:53:26 AM
Earn Bitcoin -

  • Turn web traffic into Bitcoin commissions
  • Free scripts to install into your existing website (Wordpress or PHP)
  • OR ... get a free Wordpress blog with all the Bitcoin earning scripts installed
  • Daily pay
  • Extra income affiliate program


BungeeBones.com is the main membership site where users register.

Important! Still In Testing!
  • ... despite having over 3000 advertisers from around the world
  • Doesn't have enough installations of the script to get you a lot of traffic YET
  • The Wordpress plugin is still being tested
  • The free Wordpress blogs are the same script (but not the same tech support) as Wordpresss.com and can be customised for schools, charities, sport leagues, churches etc so that their members can each blog and earn
  • Registrations coming in from installations ESPECIALLY need testing (need to verify your affiliates are credited to you)
    • Bitcoin Commissions payments are manual. The Bitcoins all go to cold storage and, so, need to be moved. For that reason, no payments for less than $50 worth of BTC BUT you can sell your earnings (as advertising credits to other members) through experimental exchnage (works alot like LocalBitcoin)
    First step - Register
    There are two types of registration to choose from (both free)
    • 1) Advertise your website
    • Or Get a free Wordpress blog if you don't have one


    Second Step - Install script (if you are using your own site)
    After you register and add your website info it will be advertised free & across the entire network. Afterwards, IF you want to get a better position for your ad (they are displayed 20 per page, last one received - last one displayed) you can purchase one with Bitcoin (Bitcoin is the ONLY payment method accepted and the ONLY way commissions are paid to earners) (this functionality needs your help for testing. Totally optional but needs your help. Currently, funding your account is limited to deposits of only $2 worth of BTC while testing) .

    If you want to get better position WITHOUT spending BTC there is a demo version that works just like the paid version (it needs testing too). It will pay commissions (in demo credits) to earners, deduct payments daily from advertisers, and will even move your advertisement display ahead of all senior listings. The only thing they can't do is be redeemed or sold and listings are out ranked by actual Bitcoin payments.

    After you register and add your website info and after it is being advertised, to begin earning Bitcoin install the Wordpress plugin (5 minutes) or PHP script which will display a real simple web directory on a page of your creation and your website. The web directory displays the website info of our advertisers in organized categories and 20 listings per page.

    If you get your free Wordpress blog (I recommend Blog4Bitcoin.club) it comes with the Bitcoin earning directory already installed (as well as some editable info and sales related pages). Personalize your blog, write your own articles and posts and promote them on social media and other places.

    This is NOT a Pay Per Click program but can be run IN ADDITION to one on your website.

    You get paid IF/WHEN one of your visitors registers at your site, adds their website info to advertise AND PAYS for better placement

    If they merely advertise for free that is ok too! They may be interested in installing the script or getting a free Wordpress blog and earning Bitcoin themselves. IF/WHEN they do then you will receive generous override commissions on THEIR ADVERTISING SALES!

    Learn Bitcoin -

    This is a new and unique program that revolves around web advertising. It is among the first to be a Bitcoin-Only business and you need to have Bitcoin in order to buy better placement (generally). If you are a business, you definitely should be interested in advertising - especially when it starts with free advertising. But even our paid advertising is a great buy as we start up so what better excuse to get your first Bitcoin than to buy advertising with it?

    Or, perhaps you are a business who has been thinking about accepting it and was wondering what to do with it after you get paid. Your current choices are, pretty much limited to 1) Cashing them out for fiat currency or 2) save them. Our system hopes to "temp" you to spend them (as Bitcoin) for business related services (aka web advertising).

    Or, perhaps you are a business that wants to learn Bitcoin without exposing your main business to risks. You can install our app and get what may be considered a turn-key Bitcoin web advertising agency franchise at absolutley no cost. The script creates the business (so it's an e-business) absolutely free and you get paid on your sales. Since most business owners know other business owners, be first and get them to register too. You will earn Bitcoin on their sales as well. As you all get to learn Bitcoin you will also soon start accepting it at your main business.

    If you don't want our script on your main site contact me about getting a Wordpress website with the plugin installed. Use it to blog about your business and drive sales to your main site with it as well as sell advertising but not from your main site.
6  Bitcoin / Bitcoin Discussion / Bitcoin Cloud Servers? on: December 01, 2016, 06:44:32 PM
I ran across this article about AWS (Amazon Web Services) where it describes the great lengths they are going to for acquiring data storage. This particle statement is what struck me as being especially applicable to Bitcoin:

Quote
Snowmobile aims to migrate massive datasets (think petabytes) to AWS. The argument for the hybrid cloud is that some workloads are just too ridiculous to move.

"Too ridiculous to move"! Isn't Bitcoin's blockchain already beyond that?

So, are there any Bitcoin cloud servers available or is it just a massive security risk that keeps such a thing from happening? I would think a shared or virtual server connected to a common blockchain database would be valuable?
7  Bitcoin / Armory / Can't spend on: July 04, 2016, 07:55:52 PM
Hey all. I've been running Armory 93.3 on Ubuntu w/o issue until it started acting buggy the last 2-3 transactions. A few of them never got confirmations and, so, I used Help->Clear Unconfirmed (I think I've had to do that 3 times or so).

Now I can't spend at all. It gives the popup that the transaction has been rejected.

I then tried exporting the private keys. I opened the wallet and clicked the backup and created the list of private keys. I found a couple keys with positive balances and copied one. I removed the spaces and imported it into blockchain.info successfully. Strangely (to me ) it reports it has a zero balance there but a modest balnce in my Armory.

I'm running Armory in manual mode ( i.e. I start bitcoin core manually and then start Armory).

and running Bitcoin Core version v0.12.1.0-g9779e1e (64-bit)

Thanks
8  Bitcoin / Bitcoin Discussion / How might Bitcoin impact employee/employer relations? on: February 02, 2016, 08:18:58 PM
My own thoughts on a discovery of what may have a huge impact

http://blog4bitcoin.club/bitcoin-triple-entry-accounting-collateralized-wages/

An excerpt -

Quote
In his Feb. 10, 2014 Bitcoin Magazine article titled Triple Entry Bookkeeping With Bitcoin , Jason M. Tyra explains Bitcoin's potential effects to the accounting profession. In the article he writes

"Double entry bookkeeping revolutionized the field of financial accounting during the Renaissance period. Whereas simple ledgers had long been the standard for record keeping for merchants, the church and state treasuries, the growth of long distance trade and creation of the first joint stock companies resulted in firms whose records were too voluminous and complicated to provide any assurance of accuracy to their users….The double entry system solved the problem of managers knowing whether they could trust their own books."
Double entry accounting changed human history. It essentially enabled the employer-employee relationships to develop and, without them, companies such as Ford, IBM or Google would not be possible. The key benefit was that double entry accounting enabled bookkeeping practices to be used to help make sure the parties to the employment contracts were remaining honest.
9  Bitcoin / Project Development / A WordPress.com Alternative That PAYS Users Bitcoin on: January 19, 2016, 11:42:27 PM
Hey all,

I had just started working on this way back when Wordpress.com announced that they were going to stop accepting Bitcoin. I was tempted to announce it then but it was way too early in its development so I held off. And it may still be too early to announce it now but I have put together not just one alternative to Wordpress.com but 14 of them. Each of these sites are WordPress.com clones that use the WordPress MultiUser feature to enable users to sign up and get their own blog in just a few minutes. But what should be most interesting to those interested in Bitcoin is that each Blog comes with a new system to earn Bitcoin from the web traffic the web content generates.

How this works:

  • Register at any one of the 14 Blog sites and get a personal blog (as a subdomain) at absolutely no cost
  • The blog has a "web directory" page, like a Yellow Pages type directory that already has a few thousand web sites registered and in various categories
  • To your casual visitor it is just an offer for them to visit the sites, no tracking, no popups - real tame
  • In the top of the web directory there is an "Add A Link" link which, we hope, attracts the attention of any visitors with their own website
  • The Web Directory is part of a cooperative network of sites so that any advertiser that decides to "ADD Their Link" is displayed in the rest of the network sites as well as yours
  • They can advertise for free or they can bid competitively against others in their category for better position.
  • You get 50% of whatever they choose to pay. This is a continuous commission paid in Bitcoin for as long as they remain a paying advertiser and you get credited daily.
  • Not all websites are interested or need better paid positions but they may be interested in earning Bitcoin. If so, you can earn Bitcoin from their sales if they add the web directory to their own website (it comes as a WordPress plugin and a PHP script)
  • If they don't have a website or one incompatible with our API they can get their own MU site just like yours at any of the 14 websites and earn you Bitcoin too.
[/list]

This may be a stretch of a business model for many reasons not least of which is that it is a Bitcoin ONLY system. Anyone/everyone that wants to move their website up the list will have to either earn Bitcoin by installing the API or by buying better placement with Bitcoin. But it also answers a common questions businesses have about what they can do with Bitcoin once they start to accept it. Rather than just cashing it out they can use it to advertise. At the same time, any business with a website can install the API and learn about Bitcoin a bit by earning some with their web traffic.

I am designing this around a cooperative business model which is quite different than what most people are used to. This startup obviously hasn't got the network effect yet but by using a cooperative model IF (and it is a BIG IF) it would be the early adopters and investors that become the owners and reap the reward of the success. How does the system insure the early adopters keep their earnings? A few things: 1) Everyone is credited their commissions daily so any interruption would be detected early. Members could then pull their API and shut off the value (i.e. the web traffic) backing the network at any breech 2) Members can also get their own payment gateway (currently using GoURL's) and IF they have enough earnings to cover the buyer's Bitcoin deposit they get the Bitcoin in exchange for their accumulated ad credits. 3) Members also can sell their ad credits using a "smart contract" system for direct deposits of cash to their own bank accounts. 4) They can redeem their earnings for Bitcoin directly from the coop ($25 worth minimum because all the BTC are in cold storage). The basic idea is make sure every Bitcoin ever deposited is backed 100% by advertising that all eventually gets distributed to web traffic contributors/investors. As the Bitcoin that is deposited gets paid to the web traffic contributors as commissions then they (the credits) are destroyed. This is designed with all the incentives to withdraw the Bitcoin earnings as soon as possible.

There is also a "DemoCoin" version that users can use to bid and track earnings as well and use without risk. It would be great if some in the forum would sign up and kick the tires on this. I've got the system crediting new registrants .1 DemoCoin (functioning like .1 BTC) which they can "buy" better position and "earn" as others "buy" from their site. But the BTC payment gateway (a GoUrl gateway) is set really really low (about $2.00 worth of Bitcoin) and needs testing as well.

Blog4Bitcoin.club is a good place to start the tour. Scroll down a bit to see the other MU sites. Visit the directory in the upper nav bar to add your own website (again, free or paid).

10  Other / Off-topic / Best place to sell a Bitcoin related domain name 1stBitcoinBank.com on: January 19, 2016, 09:27:24 PM
I am contemplating (only contemplating at this point) the sale of a Bitcoin related domain name 1stbitcoinbank.com and am looking for feedback about potential ways to do this.

One of my concerns is that the transfer is like Bitcoin and irreversible. I don't see an escrow as being any good because they would have to actually get access to the domain name in order to transfer and could just as easily keep it themselves. Same issue if I use a domain name broker but I think outfits like GoDaddy could be trusted BUT I want to sell it for Bitcoin and not fiat (GoDaddy doesn't accept Bitcoin).

Any ideas?

11  Bitcoin / Development & Technical Discussion / Is a reduced reward time possible? on: January 09, 2016, 02:05:56 AM
I was just curious if the reward time could be reduced from every ten minutes (targetted) to every 5 minutes as a way to increase the blocksize? Of course the reward would be reduced by half also so that the total bitcoins being created would remain the same. If so, wouldn't this be another way of increasing the "blocksize" throughput? If a reward was issued every 5 minutes then a new block would be started every five minutes instead of every ten. And, if this process of halving the reward time (and reward) was perpetuated through the lifetime of bitcoin (meaning every time the reward was halved every four years the reward time was also cut in half) then the block size would be doubled at every halving as well?

As a thought experiment, if this process had been applied to the last reward halving 3 1/2 years ago would we be having this blocksize debate today? I think not. And if it had been applied then, how would it have affected mining since that time?



12  Economy / Digital goods / Domain name - 1stbitcoinbank.com on: May 31, 2015, 10:39:23 PM
The first Bitcoin bank in Switzerland was just announced so what should a domain name like 1stbitcoinbank.com be worth? I know there will be estimates all over the map but am curious what others think about the name? I'm thinking of selling it and would entertain any offers too ... just pm me.
13  Bitcoin / Project Development / Blog4Bitcoin - looking for testers on: March 17, 2015, 10:05:18 PM
Blog4Bitcoin (currently at blog4bitcoin.net)will be a core part of enabling many bloggers and businesses to earn and experience Bitcoin.

Starting with a Wordpress Multisite (where they can register and get a free blog site like Wordpress.com), the focus there will be on students initially and will encourage them to post home work, theme papers etc. as the first step of a way for them to earn Bitcoin for their intellectual property (that is often just going to waste). Though I am personally close to 4 colleges and will be targeting them there is no age or grade restriction.

The traffic their user generated content generates will then be leveraged to attract advertisers. Each blog site comes with a web directory installed whereby one advertiser's submission gets their link placed on all sites participating. As the network effect of the student generated traffic grows, advertisers can bid against each other for position. Since students are compensated a percentage of all the advertising sales their site generates they receive raises as their customers increase their bids. They also will receive payments for as long as the buyer continues to pay.

Each blog site can also offer and enlist new bloggers. New registrants get the same earning opportunity and the student will get "override" commissions on the sales of their recruits (AKA multi-level approach). There is never any fee for joining, however, and never a commission earned for recruiting.

In addition to being able to offer a free MultiSite style blog, visitors with Wordpress sites can download and install the same Wordpress plugin and get the same fully populated (with categories, links and management) as what is on the Multi-site. In order to download the plugin they must register (in order for them to receive their commissions) which also insures the student gets credit for their registration (and the overrides).

There is also a PHP script (which is a little more involved to install and requires the user have a site page template) with the same registration and override commission features.

Any user with a website can register and advertise. They can start advertising for free. There is a payment gateway for both Testcoin and Bitcoin (currently deactivated) but each registrant is getting one Testcoin right now where they can experiment with bidding for position (and the commission payments can be seen operating). Payments are charged and commissions are rewarded daily.

Students can also use the traditional Bitcoin address on their blog material and get payment directly (with no commission split).


What Needs Testing:

1) The original Wordpress site did not include any hierarchical tracking. It required custom coded, integration with existing commission payment coding.

2) The payment and commission processing is on a separate server from the Wordpress server and has a separate login system. I was able to use the the original registration process to duplicate authentication credentials. How cumbersome/confusing is it?

3) Each registrant automatically gets 1 Testcoin with which to bid with. The reports of the earned commissions is also pending but could use  feed back about the user experience as to what to generate in the reports.

4) Bidding is a different (perhaps strange to some) arrangement to which the nearest thing I have found to it is referred to as a "Yankee Auction". How will that be received?

5) Bidding is refundable for one hour after being made and the crediting and reimbursement needs to be checked (especially around midnight when payments and commissions are processed). Is one hour long enough? Too long?




I believe everything that has been coded correctly so far and is working properly but I am the sole developer so thorough testing is a chore. The copywriting and instructions are likely off because I made some major changes to incorporate the Wordpress software and could easily have missed things. Any feedback will be appreciated.

If users are interested, a secondary test might be attempted of the exchange. The exchange consist of a simple Smart Contract mechanism whereby those that have accumulated commissions can sell them for deposits to their own bank account (where the seller can verify the payment was made). This site is a Bitcoin payment system only so the exchange was built as an easier way to put funds (Bitcoin/ad credits) into the buyers' hands.

 
14  Bitcoin / Development & Technical Discussion / Script review before presenting to PHP developer meetup on: October 28, 2014, 03:54:20 PM
Hey everybody,

I don't consider myself a "developer" (more a hacker) but as the co-organiser of the Bitcoin Orlando Meetup and a member of the local PHP Developers Meetup I may be on the ticket to do a presentation on the coding aspects of running a Bitcoin node. The topic I am going to be presenting is how I got a bitcoin node running on a VPS connected and sending its results to a shared hosting server (where the full node can't be installed). I've had the script running smoothly for a few months now. The only issue is that the server will shut off occasionally (it has happened maybe four times in the last four months).

I released my work as open source and this is also the first time I have ever released any of my work that way so please be careful with the cherry.

Could I ask for some help reviewing the release before I give the presentation a week from today? Despite my own lack of experience and credentials there was no one in the PHP developers that has any experience with Bitcoin. It would be a great help if before I present this it has had some peer review at least equal or better than their level. Could I get some volunteers to look it over, perhaps install it and to critique and even submit some changes?

Thanks.

The script is on Github at https://github.com/Bungeebones/bitcoin_gateway

Also ... I may be posting a link to this thread on our http://www.meetup.com/Bitcoin-Orlando/ page as well as the PHP Meetup page so your reply may be presented to bigger audience.
15  Bitcoin / Bitcoin Technical Support / How to run testnet and bitcoind on same server on: September 06, 2014, 11:16:24 PM
Hi all,

If understand correctly, bitcoind and testnet can be run on the same server at the same time provided they are configured to use different ports. I know bitcoind uses 8332 and 8333 while testnet is usually set to 18332 and 18333. I understand that the ports that are to be used can be configured in the bitcoin.conf file. So in order to run both bitcoind and testnet at the same time do I make two bitcoin.conf files and place one in the .bitcoin directory and one in testnet3 directory with different port settings?

Basically I'm running these on two separate VPS and would like to combine them to save costs.

Thanks
16  Economy / Services / WHMCS Guru Needed on: August 08, 2014, 04:14:14 PM
I'd like to hire someone to set up WHMCS on my website to accept Bitcoin. While I say "Bitcoin" I mean I will need hosting packages that people can pay for with Bitcoin but am also offering free hosting packages that they will be able to "pay for" using free testnet coins. I have two bitcoind VPS setup - one for Bitcoin and one for testcoin. The project could extend further to include a module that goes on reseller accounts do do the same. I'll be paying in Bitcoin.

17  Bitcoin / Bitcoin Technical Support / Am I right anticipating RPC trouble? on: August 06, 2014, 03:54:36 PM
I have been having problems getting RPC to work on a certain VPS to the point where I just reinstalled everything and started over. I have another installation on a smaller VPS running testnet perfectly but somewhere something got messed up on the new one (which is intended for a full bitcoin version). I can't switch the working testnet on the working VPS over to full version because the harddrive isn't big enough.

I was able to get this new one to successfully run testnet and RPC this morning. I then changed the testnet=1 to testnet=0 in the bitcoin.conf file to switch over so now I have a long wait for the blockchain to download.

So there really isn't a problem that needs fixing right now that anyone can help me with other than to ease my nerves with hopefully a good word of encouragement or some actual facts because, after I switched to running regular bitcoin from testnet in this new installation, the freakin RPC stopped working again. I am hoping it is because the block chain hasn't finished downloading.

Can someone tell me that the incomplete blockchain is the issue so I can be at peace for the next 24 hours  Grin or am I back to square one without RPC working again?

Thanks
18  Bitcoin / Development & Technical Discussion / A basic question about addresses on: August 04, 2014, 02:40:56 PM
Could an address work as either a testnet address or as  a bitcoin address? Can they be interchanged just by changing the first character from a 1 to an N for example? I'm thinking that since they are always the same first character that the address must be the rest of it and the first character is just appended on to it? Right or wrong?

Thanks
19  Other / Politics & Society / Tell Me A BlockChain Can't Nail The Bankers Coffins! on: July 29, 2014, 08:50:55 PM
I would describe the The Mortgage Electonic Registry System (MERS) as a Dark Side version of the blockchain. It was created for and by bankers to avoid paying taxes, commit fraud in mortgage backed securities and make it a cake walk to foreclose on families.

This Wikipedia article does a great job explaining it.
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB8QFjAA&url=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FMortgage_Electronic_Registration_Systems&ei=6f7XU93gAYGgyATy8YCABA&usg=AFQjCNHIhtublhtqaUxTyr2BkZgMlK-s6A&sig2=uTAkyEX6c7vN6OOOzdYrtg&bvm=bv.71778758,d.aWw

This article also.
http://www.ritholtz.com/blog/2013/04/states-fight-back-against-mers-mortgage-fraud/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29

I couldn't possibly believe that Lawsky could be oblivious to what these crooksters are doing yet he is going after Bitcoin. The blockchain is open source and everyone can and has seen it and how it operates. MERS is just as digital but is totally hidden from view. We gotta see through Lawsky and who butters his bread and greases his palms!

The blockchain or one made specifically for mortgages would hit the bankers where it would really hurt. Their days are numbered.
20  Bitcoin / Development & Technical Discussion / A Hierarchical Data Storage System For Hierchical Addresses and Keys on: June 27, 2014, 01:59:21 PM
I would like to throw this idea out there to the developer community.

I've used a data base system for years called the "Modified Preordered Tree Traversal System" and when all the talk came out about Hierarchical Deterministic Wallets it sounded like a perfect fit.

I installed BIP32 PHP librarary on a local server along with the LAMP stack. Here is a screen shot of the crude GUI its got but from it I can explain some of its potential uses that I've seen so far. I can't get it to work on the shared server for this demo but it functions locally to produce all the users and their addresses and private keys (I don't have it producing a "public key only" user yet but I think it has a simple solution.

I used fictitious user names out of a typical corporate structure to create the hierarchy. Each could create lower levels but with a login authorization script lower levels could be blocked from seeing levels above theirs quite easily.

The hierarchy depicted is based on a user hierarchy and then, from that base, the users get allocated an address and key pair from the hierarchical deterministic wallet. There is now a bridge between the hierarchy of the corporation and the hierarchy of the addresses. The hierarchies are bridged, but can still operate independently. For example supposed salesman Mike gets promoted to lead salesman. He would still want all the addresses to the accounts he services (suppose he regularly issues public keys to customers). His entire account along with the addresses and keys could be moved up the hierarchy to the same level of his former supervisor Lead Salesman Jack. The data would no longer be viewable by Jack (but he could have copies of the public and private keys stashed) so salesman Mike's new supervisor District Manager 2 issues Mike a new private key capability that Jack can no longer see or have access too. The District Manager 2 manager has access to the entire tree of Jack and Mike both before the promotion and after.

The advantage of this data storage system (ie. the Modified Preordered Tree Traversal method) vs. the more typical relational data base method is, to quote Sitepoint
Quote
Recursion can be slow, so we would rather not use a recursive function. We’d also like to minimize the number of database queries. Preferably, we’d have just one query for each activity.
(see http://www.sitepoint.com/hierarchical-data-database-2/ for code and methodology of the method if you are not already familiar with it).

In addition, the logic behind the Modified Preorder tree traversal system (MPOTTS if I may) and the hierarchical deterministic one  are nearly the same.

Once one gets used to MPOTTS there is no problem in using it as a bridge into the more normal relational database system. Each member of the hierarchy has its own unique identity can can be used to create other relations to.

I've played around with it to get it working to a degree and think it has some potential so I figured I'd post it here to see what others think. Maybe it could become a BIP?


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