Let's say bitcoin has been widely adopted, the wallet.dat containing Bill Gate's net worth crashed (because his misplaced faith in Windows) and there's no way to recover the file; his foundation need this money to pay 10 million children's medical bill -- in another word, there's catastrophic/extraordinary consequence if the money cannot be recovered -- should there be a mechanism to deal with this kind of situations?
It's called backing up and encrypting it. |
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Tax is NOT theft, it's the rent... the price of admission to civilization. Borrowing money and not paying it back IS theft. You don't have to hire a private army because the nation provide an army for you, you don't need to hack down trees... make tar... turn it into asphalt and pave the road to where you are going because society has already done that. To expect to be able to use that for free is childish, selfish and short sighted.
Tax is theft because you are forced at gunpoint/jail for doing so. And for the record, I think public roads are a menace on civilization and public education is a laughingstock. Other than that, I suggest you understand libertarianism to understand where we're coming from. |
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They were 0/confirmed when I answer the question and my answers does not appear?
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Maybe you could open source the payment processing code part. I am a rails developer too, but I am kinda lazy about learning the payment processing part.
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Blah, I sent 1 btc and answer the question on What is the meaning of Life and got nothing back!
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I merely state that the childs parents would be justified in placing a prediction  Just because it fit libertarian ethical theory doesn't mean it's a good idea to put up a prediction. Assassination politics open up a whole can of worm. It's not going to be used against just evildoers, but people who are rich, people who made several individuals mad, or just being successful. |
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Death is a dangerous weapon that should only really be used as self-defense.(How would you like it to be AIMED at you because of a person's grudge or a bloodthirsty mob?)
Otherwise, I do not trust human beings' judgement on the use of the death.
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I want to earn bitcoin, not be a volunteer programmer.  That being said, there's some benefit in having a clear spec. |
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I know how to use websockets, javascript, and canvas.
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Assassination politics is rather a dangerous game to play...Death by majority.
It would be one of those things excluded as a prediction in bitpredict.
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I have not seen your site. Is it ready jet?
No. If it was...then I would already announce it. Anyway, if large sums are bet on a prediction, then your site will store those sums until the outcome is clear. There are a few problems:
1. The government can confiscate the sums of bitcoins that you temporarily store.
My site is essentially a bank. I don't store balances for outcomes. This is to facilitate a liquid market. Store at your own risk. 2. The outcome of the prediction is determined by your website. After that the bitcoins are payed-out, and this cannot be reversed, even if the outcome turns out to be the other way around. For example, there may be a bet called "Bin Laden brought down the twin towers". If bets are put in a block chain, and the truth on the prediction turns out the be different then the transaction will be reversed by consensus of the nodes.
My site is just an intermediary. Outcome are decided by judges elected by people on each side. |
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Yes, but you know that governments are fiercely opposed to unregulated prediction markets, even more than just private currencies I suspect. So, don't you think, a prediction market must be P2P to avoid being shut down.
The site itself is open source. Shutting down my site doesn't mean much of anything if people can set up their own exchange. |
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Would it be enough to allow bitcoin to include conditional transaction to create a prediction market? The conditional transactions then would consist of a normal transaction with a condition attached to it. The condition could be a prediction, like "silver will hit XX/dollar on AA/BB/CCCC". The nodes would have to verify the outcome of the condition, to know whether the coins are transfered or not. So if you re-spend the conditionally spend coins, you may have to add a large fee to motivate nodes to verify the outcome of the condition.
Such is a complicated thing for the proof of concept. |
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http://www.bitcoinservice.co.uk/files/68 0.10 BTC Coloring of the pink stocking, nothing else much. Also, I am still auctioning the chance to be in the next art piece where you get to choose one of the three slot...
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So, any article submission? Cmon, this is going to be cool! Kiba, who are you interviewing? An interviewee who is quite lazy at answering question....  |
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Teaching people (sane) economic theory is the only way to create a free society. Unfortunately, most don't like to learn.  Blah, libertarians are regarded as narcissistic egoistic Randian worshiping fanatics. |
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Starting tomorrow, I will accelerate development of bitpredict so I can take on this project.
I been anticipating this project for quite some time but I did not expect anybody would take initiative in funding this project.
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How many articles, though?
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