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Bitcoin / Bitcoin Discussion / Re: Why are cryptocurrencies the future?
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on: January 09, 2015, 10:07:23 PM
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Cryptocurrency is global, without barriers to entry, and inclusive. Besides being (mostly) open-source and distributed to withstand attacks, Cryptocurrency is the future of how we understand digital value. The Blockchain is at the heart of all of this, and bringing utility and reach to this technology is how Cryptocurrency will be part of our everyday lives in this very near future. Projects like Factom are reaching outside of Bitcoin to show how the Blockchain can be used for things like land title registries for the 3rd world - there's a video on YouTube here: http://m.youtube.com/watch?v=uYQ5icxGvmA |
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24
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Bitcoin / Bitcoin Discussion / Re: Decentralization is Inevitable
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on: January 09, 2015, 09:57:53 PM
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Decentralize all the things!
We need to build the layers to make decentralized development possible - it starts with infrastructure that can support Dapps, DAO's, and DACs
True decentralization relies on a distribution of servers and networks, much like the Bitcoin Blockchain.
Here are some projects doing this today:
Ethereum
Storj
Maidsafe
Factom
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26
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [OFFICIAL THREAD] FACTOM - Offchain transactions + Factom Blocks
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on: December 05, 2014, 12:56:45 AM
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Thank you for your informative responses.
@AlanX, you suggested that buying 1000s of entries in Factom with BTC can prevent the bloat&cost problem and I agree.
However, IMHO it would be possible to achieve the same by having colored Factom tokens (colored as in colored coins).
The would-be user of Factom sends his tokens into a m-of-n threshold signature Bitcoin address controlled by the Factom miners (miners' address).
There will be only one miners' address into which ALL users must deposit their Factom tokens. Signatures made by the privkey of the address from which a user funded miners' address will be used to uniquely identify each Factom user.
The miners must themselves keep track of how many tokens have already been spent by each user.
The miners can have a policy of disbursing the already-spent tokens out of the miners' address at the end of each day.
The downsides:
Miners are not immediately rewarded but only at the end of the day.
Miners must keep track of colored tokens' movement on the bitcoin blockchain.
Have you considered this scheme?
Interesting but colored coins is not a protocol unlike Mastercoin/Counterparty - and Factom. Afaik Colored coins allows you to identify utxo outputs and 'color' them - I dont see how you would be able to achieve the same as what Factom is proposing. It seems that your proposal is more cumbersome as it would involve - colored coins, multisig, and miners tracking tokens (something that would require coordination with miners and/or pools) Factom addresses the bloat issue by hashing transactions offchain on Factom servers, hence the need for its own token. |
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28
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Other / Beginners & Help / Re: Easiest way to buy bitcoins with credit card.
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on: November 27, 2014, 11:37:51 PM
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Trucoin is the easiest way to buy BTC with credit cards.
im really sad man. Trucoin locked me out what a shitshow. I entered my addy of which i have at least 5. They said service is not avail in my area and ip locked me same as circle (nice). I couldve simply entered another address trucoin, and circle. Thanks guys. Also circle said because my address is a box they can not do biz with me according to fed law (yea okay) lmao.. so me getting a passport id's etc is also against fed law? Nope.... just circle being circle (lmao)  Sounds like you were trying to use Trucoin but may not be located in the US. For address verification, they require a billing address that is the same as your bank/credit card - I would also make sure your IP address is also reflective of this address/area. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [OFFICIAL THREAD] FACTOM - Offchain transactions + Factom Blocks
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on: November 27, 2014, 09:55:48 PM
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So FACTOM servers aggregate the hashes from all of their clients into one megahash and commit it to the blockchain every 10 mins while giving cryptographic proof to each client that their hash was indeed included into the megahash?
This is a nice way to cut costs for your clients, albeit your solution has a single point of failure - FACTOM servers. Still some gov and corporate entities may be interested in using your service.
What I did not immediately understand after looking at the paper is why you need your own coin and your own chain?
Can't FACTOM be a subscription-based service where you hand out API keys to your clients to push the hashes to your servers?
Great points - Factom network has its own access token to prevent spam (just like Ether to Ethereum). The Factom servers will be a distributed model designed to only process Factom transactions. The purpose of Factom is to provide DApps/Dacs/DAOs/Data processing companies or even Transaction processing systems like back-end exchange platforms, with the benefits of using the Blockchain technology, but without the time and data constraints of the Bitcoin Blockchain. Factom can support a subscription service where people can use an API to send their data, that is certainly part of the vision - the hashing of the data itself can be done client-side and would then be rehashed by Factom to compile into a Factom block. Thanks for reading the whitepaper |
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35
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Bitcoin / Project Development / Re: [OFFICIAL ANNOUNCEMENT THREAD] TRUCOIN - BUY BITCOIN INSTANTLY
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on: November 04, 2014, 08:22:23 PM
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Unfortunately looks like it costs about 9%...
~3% worse exchange rate than coinbase plus a 6% processing fee. It would also be nice if they showed fees somewhere before the whole registration process.
There is a small markup over the spot price and the processing fee. Trucoin has mentioned as they start to grow and have more volume, they would like to put pressure on their processors to lower the cost. Bitcoin is deemed risky by payment processors because of fraud and because of that it's still an unknown to them, hence the higher fees. You can't get instant anywhere else that doesn't include some hidden fees (circle) You also can't get limits that high instantly there either.. When working with visa or MasterCard unfortunately there is no way around interchange fees. |
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Bitcoin / Project Development / [OFFICIAL ANNOUNCEMENT THREAD] TRUCOIN - BUY BITCOIN INSTANTLY
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on: November 03, 2014, 07:52:41 PM
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 Welcome to the Official Announcement Thread for Trucoin.com-------------------------- The Facts:Year Founded: 2011 Founders: Chris Brunner & Brent James Location: Atlanta, GA USA Service: Buy Bitcoin using CC Industry: Bitcoin exchange/purchase Competitors: Circle, Coinbase, Value Proposition: - Buy Bitcoin with your credit card - Instant Bitcoin transfer - Legal and Compliant method to buy Bitcoin - No complex verification process - $500 Daily Limits Advantage: Compliance first - they got licensing before they operated in the US and they're rolling out to 32 states and counting Where: Trucoin USA, Inc. of Georgia is an authorized delegate of CoinX, Inc. in AL, AR, CT, DC, FL, GA, ID, KY, ME, MI, MN, MS, NE, NJ, ND, OR, RI, SD and WY. Service also available in AZ, KS, MT, NM, MA, TX, SC and WV. (to be updated as they expand to more states)-------------------------- Reddit: http://www.reddit.com/r/TRUCOINTwitter: https://twitter.com/trucoinLinkedin: https://www.linkedin.com/company/trucoin-------------------------- Notable media mentions:Yahoo Finance: Trucoin Opens to Thousands on its Waitlist in Over Two Dozen Stateshttp://finance.yahoo.com/news/trucoin-opens-thousands-waitlist-over-130000752.htmlCoinDesk: Trucoin Opens MasterCard, Visa Bitcoin Buying Services in UShttp://www.coindesk.com/trucoin-opens-mastercard-visa-bitcoin-buying/Technews: Bitcoin News: Trucoin Brings Bitcoin Buying Service to 32 US Stateshttp://www.technews.org/bitcoin-news-trucoin-brings-bitcoin-buying-service-to-32-us-states/2918575/PYMTS: Trucoin will expand its bitcoin buying service to 32 US states in the next few weeks.http://www.pymnts.com/in-depth/2014/bitcoin-tracker-week-47-bitcoin-haunted-by-the-ghost-of-falling-prices/-------------------------- -------------------------- |
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40
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Alternate cryptocurrencies / Altcoin Discussion / Re: The truth about CannaCoin (CCN)
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on: October 25, 2014, 04:18:48 AM
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I have been involved in several closed door meetings with the CCN team and for this reason I've made a throwaway account as my real account can be linked back to my real world details.
The focus of the discussion then violently changed from "How can we improve our own coin" to "How can we tarnish the reputation of cann". Many idea's were thrown around but eventually the team settled on spending BTC to hire a PR firm to run what was essentially a smear campaign against CANN. It was a well known fact that the price of CANN would plummet on the 20th (that's just how the altcoin markets work and nothing nefarious was done to lead upto the inital dump) knowing this the CCN team figured that the 20th was the best day for the PR firm to make their move.
The PR firm in question specializes in blockchain technology and upon analysing blockchains they find whatever fault they can and capitalize on it via way of organized FUD. The PR firm are the ones who found out about the so called "Hidden Premine" and then passed that info along to the CCN team who themselves have put extradionary effort into ruining the reputation of CANN.
 http://coinhr.com/single_vacancy/?vid=12http://vanbex.com/Just a guess, but this Vanbex group sounds totally sketchy. Hi, I'm the founder of the PR firm referenced (vanbex.com) and we weren't hired by anyone to do a smear campaign against Cannacoin. Regarding, " The PR firm in question specializes in blockchain technology and upon analysing blockchains they find whatever fault they can and capitalize on it via way of organized FUD." Thats not correct. We actually try to answer to the fud and sometimes we agree with it, so we work with the company to fix it. TBH I had no idea about Cannacoin before seeing this thread and not sure what the situation is with this coin. Please forgive my ignorance of the situation. |
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