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If you want real security, gpg.
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I've actually thought about this a while ago. My idea involved the foundation/trust placing it into a bank account and earning ~3% interest a year. The value of each coin will grow. After this coin has caught on, there would be a 2 weeks warning and then no more coins will be issued (you can still exchange coins out).
Problems:
Regulatory - this currency is tied to fiat. Would you need money transmitter licenses? It's pretty much a bearer instrument
Trust - how would you trust the non-for-profit to not take your coins? Don't expect any help from the justice department if the non-profit runs away, like we've seen before.
Why - most of bitcoin's success is because it is decentralized, and a fixed monetary base.
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Got my shares credited  |
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hurr durr resistance approaching
oh wait
We'll see it at $100.
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Wouldn't be too hard to cause a mini crash right now - bids are tiny.
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7/25 |
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Hmm, actually a "random item swap" site would be pretty interesting. You send something to the operator, based on an estimation of value they send you another item someone else sent.
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Sure, you send me collateral first, BTC always stays with me. I won't get scammed, you'll still be able to short without rep.
Example: You send me $6,500
You tell me to short 50 BTC, I sell it on gox, say price is $100 each
A week later and BTC is $90. I send you your $6,500 back + $500 - interest
However, if BTC goes to $130 then I'll sell your $6,500 for BTC.
PM me as I might not check this thread.
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don't know much about the inner workings of ripple, but given that ripple uses a public tx id, i'd suggest:
1. hashing the tx id with hmac_256(txid, secret[123456])
16F3CFF07A73110CD5E6CD9797EC316DAC1CA5BB2ED0D60A2C2CE4AB8FC5D35B
2. taking whatever bytes you want (e.g. first 2)
16F3 (5875)
3. using a basic hi-lo win/loss rule (e.g. under 32768)
WINNER!
sound familiar? yeah, its sd for ripple (well not exactly -- but its close enough and should satisfy fairplay)
good luck!
If I understand you correctly, - I hash the txid of the incoming transaction instead of using python's "random" (incoming to the dice address) - generate a secret number daily and publish to the web - Does daily make everyone happy? I went to a bitcoin meetup last night but none of the discussions seemed to get to the provably fair discussion. Ripple meetup is tomorrow night. You are seriously using python's random function to generate random functions? That is completely deterministic. |
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Of course ripple is faster than bitcoin. But you can't compare these two, one is open source and developed by the community, while the other is a pump'n'dump payment method that is closed source (yes their website lies).
Either way, making two topics about your ripple gambling game in the bitcoin section is kind of annoying.
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I am only doing this because www.bitcoinrain.com one investment group has signs of insolvency and I since I had 60 coins there so I expect to sell this avalon order for at least 120BTC. Regarding this part, the site went down two days after I requested my withdraw..  |
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It appeared. I just saw it.
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Not that useful for a bitcoiner |
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Also, txids for your 100 batch 3 orders?
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Guys, bet more on satoshiDICE, the shareholders are getting a bit annoyed at sdice's bad luck |
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Interesting! Payment methods supported, people from Australia can use?
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TXIDs for ordering your 2x50 Avalon Batch 3 orders?
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i'll actually sign up now P.s. How am i safe with my info on this site? I made the site Passwords are hashed multiple times with salt. Identity documents that you upload are stored on the web server, but I move them to amazon S3 after encrypting them. If you don't have any active loans, you can PM/email me and I'll delete the information you uploaded (and appropriately change your credit ratings). Your info will not be safe if you default on a loan. We also store standard info like useragents, IP.. |
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