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481  Economy / Service Discussion / Re: Coinlab are sneaky bastards, investors behind Bitcoinica on: May 05, 2013, 07:27:31 PM
I've watched Fun with Dick and Jane so I can envision the scenario you present. However I have to ask why you failed to communicate with the community for the past how many months (years?). I haven't followed things that closely since I fortunately didn't have anything in Bitcoinica when it crashed and burned. I'm not even sure who all the parties involved are (Bitcoinica consultancy - is this you/Intersango?), Zhou Tong, the purported hacker in China, Tihan, MTGOX, a liquidator, etc. However it seemed like the Intersango side of the equation was the only ones who were not communicating whatsoever throughout and the fact is that it doesn't seem like anyone has their money back yet.

I was on these forums all day long everyday during the entire time while nobody else said anything except the odd post from Zhou and a couple from Tihan. The only thing I did have is ability to vet claims and ask people what's happening.

Check my posting history:

https://bitcointalk.org/index.php?action=profile;u=1931;sa=showPosts;start=100
482  Economy / Service Discussion / Coinlab are sneaky bastards, investors behind Bitcoinica on: May 05, 2013, 07:04:10 PM
I've gotten a lot of hate from people who've blamed me for Bitcoinica, convinced I'm to blame. Maybe now you'll all understand. Here's some basic facts.

Coinlab were the investors behind Bitcoinica. Tihan Seale and Peter Vessenes founded Coinlab together. Tihan bought Bitcoinica and Coinlab was involved from the beginning. Patrick Murck filed the legal papers on behalf of Bitcoinica investors.

We were given fake shares in a fake company. The deal was to contract us to work on Bitcoinica. The site had been losing money for months and had huge security problems. A new company was formed to handle that agreement.

After the first compromise, despite huge problems in the setup and design of the website, they wanted to put it back up as fast as possible. I was against this strongly which is why I released the code. After an employee used this as an excuse to steal more funds (the evidence is definitive), they were upset more over the loss of the 'Intellectual Property'.

They scapegoated me. They wanted no liability and refused to help us complete the job for them. All the emails are public on this forum (I released them) as proof. Donald kept asking to speak to their superior but they refused.

I never had access to money or any servers. I was a programmer working on the hedging algorithm.

They are sneaky, and play dirty tactics. Tihan is a manipulative sociopath.

We had run Intersango, the biggest UK exchange for 2 years without any problems doing 2 million GBP turnover annually. The site has been closed down (due to UK bank problems) paying everyone back and we experienced no security flaws during its history. I had no reason to deliberately cause Bitcoinica users any harm, and if you actually go and study the evidence on the forums, you'll see I acted in all of your best interests.

When everyone ran off, a programmer was told he was now acting CEO of a defunct company that never was formed and had to make executive decisions despite having no technical control or access to anything. Do you know how fucking absurd this is? Then to be told by many different parties conflicting things to sign for their personal interest and get blamed for that.

These are facts, and every point can be proven.
483  Bitcoin / Bitcoin Discussion / Re: Altruism vs Rationality in the Bitcoin protocol: possible future Bitcoin problem on: May 05, 2013, 06:19:19 PM
I don't want mining to be controlled by a cartel, but it might be the kind of industry which naturally tends towards that state because of economies of scale. The Ripple concept essentially depends on this concept more than Bitcoin does, and if it's a problem with Bitcoin then it'll be a huge problem with Ripple.

https://ripple.com/wiki/Consensus

I'm not proposing any change. I'm asking what will happen in the future.
484  Bitcoin / Bitcoin Discussion / Altruism vs Rationality in the Bitcoin protocol: possible future Bitcoin problem on: May 05, 2013, 05:01:11 PM
http://greenwire.us/articles/it-security/cryptocurrency/dr-bitcoin-e02-the-unproven-hypothesis/

Andrew puts forwards the argument about if the Bitcoin network ends up being rationally driven rather than the altruistic p2p model, then you could reach a point where some nodes start fucking over other nodes for self profit. If the incentives model is not correctly designed, Bitcoin could implode and that this is more of a risk than the 51% attack.

This reminds me of the Hawk and Dove model in evolutionary biology:

http://en.wikipedia.org/wiki/Chicken_%28game%29#Hawk-Dove

Bitcoin might have a possible built in solution. When Hawk and Dove models is used to simulate an ecological population, you often get a stabilising point. If you take a population of Doves and a few Hawks invade, then the invader species will have a big initial advantage. But after some time of swinging the population will swing less and settle on a proportion. This is called an Evolutionary Stable Strategy.

http://en.wikipedia.org/wiki/Evolutionarily_stable_strategy

In the podcast, they use the example of miners on the blockchain. If a block contains a huge transaction fee of like 1000 BTC, then rational self interested miners will fight over the block and the blockchain will never have a chance to progress. It may be then that the best strategy is actually taking only a small slice and paying the rest to everybody else (pay off the hoard), so that others will build off your block instead of fighting for it.

When two valid blocks are created at the same time, they are in a race. They compete to have the next block built off them. Part of the problem is that miners build a new block before they discover the newly built block. This leads to a forking of the blockchain with the newly built block rejected.

Lets start by thinking how to solve this problem.

Ideally you'd want miners to discover new blocks before they create their own blocks. This step can be helped by clearing specialised paths between miners of high connectivity. The only use case for these paths is the rapid pulsing of new blocks throughout the network of miners (broadcasting).

Cutthroat efficiency is the key focus. Rapid deliverance of blocks to the targets (other miners) at low cost. The network's sole traffic is one node telling every other node about new blocks. Based on cost and topology, it's then conceivable to imagine hubs emerging. As the hubs grow, they condense outwards forming a backbone. We've seen this behaviour in other large scale networks with high traffic requirements like the internet. Attached nodes to this backbone are then given broadcast prioritisation based on how much they pay.

Our hypothetical miner loses 1% of mined blocks per month because they become orphaned. He calculates his average monthly loss to be $100. Then a broadcast service offers to cut his 1% to 0.1% for $20 per month. The miner now experiences a monthly loss of $10 + the $20 for the service. He has gained $70.

It doesn't matter what the actual numbers are. As the market expands, there will be a tipping point where the loss in expectation for a miner overcomes the cost of this service. As that industry grows and the services have to expand to meet capacity, then we see the gradual emergence of a backbone amongst miners.

When competing blocks are created, miners want other miners to accept and build off them. They might start paying other miners to accept their blocks. In effect saying “build off my block and I'll give you a share of the reward”, with a tit-for-tat relationship built up. Miners then must evaluate the likelihood of blocks becoming orphaned versus what share of the reward they will get from that block.

Since time is crucial, established agreements would become normal to codify this behaviour. You don't want to lose time negotiating. This behaviour becomes paying miners to prioritise your blocks in general. It's conceivable that a whole industry will arise of companies evaluating and scoring the mining capacity of various mining operations.

This has economic effects and could flatten the reward structure while decreasing variance among large scale operations. Mining could be a natural monopoly whereby miners experience increasing rates of return per unit as they scale their operations upwards. A simple example is the complex cooling arrangements increasing employed by mining farms. Custom setups or infrastructure might offer a far better return than small scale operations.

Against this backdrop, it's not hard to imagine a gentlemen's club forming. Everyone involved in that industry knows one another, and they have their own set of unwritten rules and agreements. The internet is like this.

This private club creates mutual infrastructure to improve their operations and establishes a backbone. Access to the backbone is prioritised either based on available mining capacity or how much you pay. There would need to be a mechanism for newly mined blocks to escape this backbone to the wider Bitcoin world. I imagine a second tier caching blocks and feeding them outwards on a slower network.

I don't want mining to be controlled by a cartel, but it might be the kind of industry which naturally tends towards that state because of economies of scale. The Ripple concept essentially depends on this concept more than Bitcoin does, and if it's a problem with Bitcoin then it'll be a huge problem with Ripple.

https://ripple.com/wiki/Consensus

I'm not proposing any change. I'm asking what will happen in the future.
485  Economy / Reputation / Re: Reputation and Trust thread – tclo on: May 03, 2013, 12:21:19 AM
Great guy. Gave me a discount without asking even.
486  Bitcoin / Wallet software / Re: libbitcoin on: April 28, 2013, 11:28:23 AM
At the moment I'm working on blockchain stuff. You can see the commit log to check my progress:

https://github.com/spesmilo/libbitcoin/commits/master

Mainly I'm concerned with blockchain interface servers right now:

https://github.com/genjix/query-layer
487  Alternate cryptocurrencies / Altcoin Discussion / Re: Ripple Giveaway! on: April 27, 2013, 01:01:32 AM
rKEZyQBqrLD3fgBKCaEa7eKHGxCT3fXj7Q
488  Bitcoin / Wallet software / Re: coins stuck in electrum client on: September 11, 2012, 11:29:03 AM
Haven't been able to develop Electrum during last 2 weeks. I'm the main organiser of the Bitcoin conference and it's taking up all of my waking hours.

Once it's over, I plan to get back onto finishing the next release of Electrum. I'll definitely be investigating this. Could you send me an email next Tuesday to genjix@riseup.net? (Don't send it now otherwise it will get lost - I'm getting dozens of emails)
489  Bitcoin / Electrum / Re: Electrum - Bitcoin client for the common users (friendly and instant) on: September 11, 2012, 11:24:23 AM
Haven't been able to develop Electrum during last 2 weeks. I'm the main organiser of the Bitcoin conference and it's taking up all of my waking hours.

Once it's over, I plan to get back onto finishing the next release of Electrum.
490  Bitcoin / Electrum / Re: Electrum - Bitcoin client for the common users (friendly and instant) on: August 29, 2012, 08:25:27 PM
Fixed! Also we can now change the server from inside the lite GUI.
491  Bitcoin / Electrum / Re: Electrum - Bitcoin client for the common users (friendly and instant) on: August 25, 2012, 06:36:45 PM
The Reddit was cool!

Also this is nice: https://bitcointalk.org/index.php?topic=103162.0;topicseen

BTW I think people should not be using github master if they want security and stability. Only use the releases. We need to change those PIP install instructions. I also need to setup an environment to test installations.

But this conference is exhausting and taking all my time. I really cannot wait until it finishes because it is super stressful. I keep hoping for it to end. Once it finishes, I'm going on a sabbatical for a few weeks where I only write code. No emails.
492  Bitcoin / Electrum / Re: [ANNOUNCE] Electrum - a new thin client on: August 21, 2012, 11:18:40 PM
lol i love how you're all collaborating to design Electrum a better logo. we should definitely use a logo made by the community. if tuxavant or anyone else wants to organise that, that would be awesome. the concept or history behind it would be very cool and fitting for Electrum.
493  Bitcoin / Electrum / Re: [ANNOUNCE] Electrum - a new thin client on: August 20, 2012, 03:15:18 PM
I put it back. Didn't realise no face would get so much hate.

Anyone curious about the reason:

http://spiritedaway.wikia.com/wiki/No-Face_%28Kaonashi%29

As a lonely creature who seeks attention from Chihiro after having developed an obsession for her kind heart, No-Face first appeared a very timid and soft-spoken spirit whose vocabulary consisted of grunts and moans as opposed to understandable words. Not knowing much about The Bathhouse or about other spirits in general, No-Face learned by example. Exposed to the crooked thoughts and greed of the workers, he quickly grew to encompass their personalities, hoping that his endeavor to be like those around Chihiro would eventually garner her affection for him, but ultimately bringing about the opposite effect.

...

With his assumed large amount of wealth No-Face became a sensation with the workers who constantly begged for tips from him. After witnessing Chihiro reject his offering of gold, No-Face sadly drops the gold onto the ground, forcing greedy workers to fight for a piece. Angered in assuming that a worker insulted him, No-Face swallows two more people as his true face is revealed to the fearful workers.

494  Bitcoin / Electrum / Electrum themes information on: August 18, 2012, 11:45:13 AM
I added selectable themes to Electrum.



To add a new theme, simply create a new directory in the electrum data directory (either ./data or your system wide local data).

Inside your directory create a file called name.cfg with the name of that theme.

Create another file called style.css - this will be your CSS for the theme (see other themes for reference).

Documentation on Qt's stylesheets (used by Electrum):

Overview: http://qt-project.org/doc/qt-4.8/stylesheet.html
Examples: http://qt-project.org/doc/qt-4.8/stylesheet-examples.html
Reference manual: http://doc.qt.nokia.com/4.7-snapshot/stylesheet-reference.html
495  Bitcoin / Electrum / Re: Electrum - Bitcoin client for the common users (friendly and instant) on: August 18, 2012, 07:46:12 AM
I added selectable themes to Electrum.



To add a new theme, simply create a new directory in the electrum data directory (either ./data or your system wide local data).

Inside your directory create a file called name.cfg with the name of that theme.

Create another file called style.css - this will be your CSS for the theme (see other themes for reference).

Documentation on Qt's stylesheets (used by Electrum):

Overview: http://qt-project.org/doc/qt-4.8/stylesheet.html
Examples: http://qt-project.org/doc/qt-4.8/stylesheet-examples.html
Reference manual: http://doc.qt.nokia.com/4.7-snapshot/stylesheet-reference.html
496  Bitcoin / Electrum / Re: Electrum - Bitcoin client for the common users (friendly and instant) on: August 16, 2012, 06:49:19 PM
Thomas, you're always welcome. I realise that you are reducing your involvement to focus on other things more important to you. I respect when you told me about having responsibility as a scientist and how you were not doing science by developing Electrum. That's a really cool thing to have an identity that is associated with a noble pursuit of human knowledge.

Electrum is a fantastic piece of software, and you've left us lots of puzzle pieces that we must now assemble. I hope we carry the torch forwards and make it great and usable for not just Bitcoin users but the newcomers.

Hope you still stick around. At minimum, follow our progress. It was cool working with you, and I value your feedback.

Quote
< bitfoo> ThomasV: thanks for all the hard work, electrum is a great contribution to bitcoin
< bitfoo> *sniff*
< genjix> bitfoo: he'll be back for sure
< genjix> nobody leaves bitcoin
< bitfoo> Smiley
497  Bitcoin / Meetups / Re: Bitcoin Conference 2012- London 15-16 Sept | ANNOUNCEMENT tickets available on: August 15, 2012, 04:01:03 AM
You're all not listening to what I'm saying. I am sorry this happened, but not because a large amount of money went missing but because it affected people in personal ways. Affected them personally.

My choice of words was poor:

I feel far much more for the guy who has lost all of his already small net worth that is paying for his next meal and this month's housing than the guy who has lost a fraction of his already large net worth and has legal recourse available to him.

The absolute numbers don't mean much. It's the effect it has on the person's life.

What do you say to someone when they email you a desperate plea for help because they might not make next week? I remember one guy in particular. I lost his email because I was being flooded with tons of emails. That was really devastating and hard to deal with.
498  Bitcoin / Meetups / Re: Bitcoin Conference 2012- London 15-16 Sept | ANNOUNCEMENT tickets available on: August 14, 2012, 11:49:53 PM
That fat girl is a person you know. Why would you insult her when she's an innocent bystander?

I'm not saying I'm happy Roger Ver lost money, but simply that his life is not really impacted in a huge way compared to someone who barely has enough money to survive or eat because they lost it in Bitcoinica. I seem to recall in Vienna that you were talking about renting out an aeroplane. That's a level of extravagance that goes way way over my head. You probably live far more comfortably than the majority of people do including myself. Don't tell me that 25k out of 50k is more of a loss than $200 of $600. That's the difference between homeless and starving, vs surviving.
499  Bitcoin / Meetups / Re: Bitcoin Conference 2012- London 15-16 Sept | ANNOUNCEMENT tickets available on: August 14, 2012, 08:18:32 PM
My personal role (not the Consultancy or anyone else's):

- Design a new hedging algorithm for Bitcoinica because the existing one was losing Tihan a lot of money for the last few months.

More here: https://bitcointalk.org/index.php?topic=93319.msg1038189#msg1038189
500  Bitcoin / Meetups / Re: Bitcoin Conference 2012- London 15-16 Sept | ANNOUNCEMENT tickets available on: August 14, 2012, 08:00:10 PM
It seems like not everyone agree that Amir has handled the problem as he should have had and that there remain a significant risk that the the conference will be used as a tribune on this matter.

Transisto, before Bitcoinica, I had no problems with you and thought you a good person (I still do and don't blame you for being upset over it). But what should I have done differently? You do realise that I have no control over anything.

If I don't organise the conference, then it won't happen. It is my experience and knowledge of this opensource-world, conferences and organising other events that means I know how to create a conference. You're essentially saying that there should be no conference because Bitcoinica lost money and I was affiliated with Bitcoinica? That seems pointless. I'm essentially doing this for free anyway.

Bitcoinica is all in the hands of business people and lawyers now. The reason I took a long hiatus is because it was seriously effecting my mental health. Several people started to tell me to take time out, but I wouldn't listen to them. Eventually it got too much, and I took their advice. I would've been a broken person unable to do anything otherwise.

It did get pretty heavy at one point, but what carried me through was random emails/PMs (reddit, forum, irc) of kindness and support. I never had something like that happen in my life before and it was very touching. Like random strangers on the internet. That was something else. There was one guy even who we exchanged long emails back and forth.

For me tbh, I could care less about people like Roger Ver who have a lot of money lost because they have lots more. What really gets me are the people who sent messages like "help! I invested all my money and now i'm borrowing to survive." That's really soul crushing. money is just numbers and w/e. But when it hurts someone physically, that's totally unacceptable to me.

EDIT: My choice of words was poor:

I feel much more for the guy who has lost all of his already small net worth that is paying for his next meal and this month's housing than the guy who has lost a fraction of his already large net worth and has legal recourse available to him.

The absolute numbers don't mean much. It's the effect it has on the person's life.
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