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1  Economy / Marketplace / Re: Luxury 32 Acre Estate for sale in Bitcoin (Oregon) - Contact me if interested on: January 28, 2014, 04:45:41 AM
"As a seller, you actually don't receive any money from the buyer, the title or escrow company does. In the US, the title or escrow company of the buyer's choosing is actually the party that would need to accept BitCoin to facilitate any real estate transaction with BTC. Unless a buyer is willing to purchase property on the word of the seller without searching or insuring the transaction or what he/she is buying. That's a very foolish move."

Sir, you need to read about multi-signature transactions and tell your nationwide title company about it, and why escrows are not going to have to receive any money or charge the parties interest for holding that money, all your company needs to provide from now on is a bitcoin digital signature on the transaction. The money will not be held on your bitcoin account, what will happen will be that the money won't be spendable by the seller until all the parties agree. No more escrow accounts, or bitcoin escrow accounts necessary.
2  Bitcoin / Project Development / Re: Bitcoin + BitTorrent integration discussion. on: January 04, 2014, 07:36:49 PM
Hi Matt, good to see you here Smiley

In general, this is a bad idea. Holding Bitcoins on an individual's computer in nothing more than a file with the private keys on it is a terrible, terrible idea (think: malware, drive crashes, etc). Yes, its true that most desktop wallets do it today, but they're moving away from that direction (hardware wallets, offline cold storage, etc). If you move the wallet into a torrent client, you now have to put in as much effort as other wallet creators to ensure security (hint: thats a hard problem, and if you think users are going to listen to your instructions and only move some small amount into their torrent client, you havent met users...).

you're absolutely right, this is one of my main concerns, specially with years of experience taking support tickets from our users I see many people somehow managing to delete their wallets no matter how hard we make it for them. But then I saw the Electrum wallet and how you can regenerate your wallet with a seed, can bitcoinj do something like this?

A question for you Matt (and other bitcoin core devs reading)

Instead of the Micropayments idea, I read that Bitcoin transactions have inputs and outputs and an associated script. If this script returns 0, then the receiving parties don't receive the BTC, however, if the script returns != 0, then the other party does receive the BTC. I was wondering there, if these scripts could be used as contracts between a BitTorrent client that wants to download faster than the rest and some seeding peers in the swarm which support bitcoin for data.

FrostWire would first look for Bitcoin enabled peers in the swarm, and then create a bidding bitcoin transaction with a script that would serve as a contract, I'm still not sure at which point the scripts are executed, perhaps they could be a function of time offset, but the idea is that the bitcoin paid data transfer could start once the seeders have the contract in hand, once the data is in the hands of the leecher (say a chunk, or maybe even the whole torrent has finished), the leecher would appear in the swarm as a new seed (and perhaps this could be used in the script so the script would return != 0 and the funds can be "released" to the outputs in the transaction).

I bet there's still a lot there that I haven't gotten right, please correct me in whatever I'm wrong, I'm still very new to the bitcoin protocol.
3  Bitcoin / Project Development / Bitcoin + BitTorrent integration discussion. on: December 16, 2013, 10:24:15 PM
Last week we started a conversation on the BitTorrent Developer community about the possibilities of integrating BitCoin on BitTorrent clients.

Our initial intention was to start with something very simple which would allow BitTorrent users to send donations/tips to Content Creators willing to share their content on the BitTorrent network. We think this can be done simply by adding a new metadata field on the .torrent file which would specify the destination BitCoin address and optionally a suggested BTC amount.

It was easy to see that a lot more could be done when you put together an open P2P filesharing protocol along with an open P2P Cryptocurrency.

Immediatly the conversation evolved to the following:

1. "The trackers/index sites could tamper the .torrents to steal the donations, what about adding tracker donation support?"
So that meant an extending the "announce/scrape/update" BitTorrent Protocol message responses by BitTorrent tracker so they can also include their BitCoin addresses.

Then the conversation opened up to having a simplified BitCoin wallet in the BitTorrent client to simplify donations, this way the user doesn't need to leave the app to make a donation, and when that happens, a world of possibilities is opened up, the most interesting being:

2. BitTorrent + BitCoin as a technology toolset on which on-demand content delivery services (think a Netflix/Spotify competitor) could have solid building blocks to manage content delivery and billing, no matter the country on which customers are. All .torrents provided by the service would be tagged with Bitcoin addresses made specifically for each piece of content, and user account balances would be loaded in either Bitcoin (if the country allows) or in a local currency (and it's then up to the service provider to convert the local currency to BTC and keep everything uniform in Bitcoin deep in the system).

3. Seeding for Bitcoin. This is one of the most controversial ones, and Matt Blue (bitcoinj developer) suggested this could be achieved with Micro-payment channels - The idea is that when seeders announce themselves to trackers they send along their Bitcoin addresses, if a user is experiencing a slow download, the user can specify a certain amount of bitcoin to pay willing seeders for a unit of transfer (to be discussed, bittorrent chunk, byte, megabyte, transfer rate?). Seeders would see the bidding requests and send the pieces to the highest bidders, once the contract has been fullfilled between seeder and downloader, the seeder could request the earned BTC and not send another piece until the micropayment is received. In this process the tracker could also be involved as an escrow and get a small processing fee.

Point number 3 requires bringing experienced Core BitTorrent Protocol developers and Core BitCoin Procol developers together, I was suggested to bring the conversation over here for feedback.

Thanks for your time.
4  Other / Beginners & Help / Re: Satoshi and FrostWire on: November 21, 2013, 05:25:55 PM
Hi there, gubatron from FrostWire here.

This is a response to this post

(since I'm a noob I'm not allowed to talk on any other topic *sigh*)

No we don't know anybody that could fit the profile of Satoshi who has contributed to our project.

The only relationship between FrostWire and BitCoin is probably me being interested in collaborating with the Bitcoin-Qt client, and us learning more about how BitCoin uses P2P and how it's similar to how we use P2P/DHTs on our BitTorrent client.

So, confirmed, no relationship between Satoshi/FrostWire that we know of.
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