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321
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Bitcoin / Development & Technical Discussion / Re: TX replacement and nLockTime
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on: March 21, 2012, 09:31:58 AM
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This is the explanation I gave when I was at the Israel Bitcoin Meetup
Imagine you play poker with your friend... Both of you have stack of chips... During the game you stack of chips grows\shrinks... When you done you change chips into cash and go..
Now imagine you play with Bitcoins instead of chips...
Pot = 2-of-2 multi signature transaction ( tx A)
After each round you (you and your partner ) create transaction ( 1 input(tx A) and 2 outputs ) (don't transmit into network ) representing your bitcoins if the game will end right now.
When game is over and you want to cash out - you send latest transaction to network...
Is it clear now?
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322
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Bitcoin / Bitcoin Discussion / Re: Project: Bitcoin Find and Fund
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on: March 21, 2012, 08:19:20 AM
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what is your proposal for making bitcoin attractive enough?
There are different horizons, the things I care about right now are: 1. Since Bitcoin now has multisig transactions, next game changing invention will be Transaction Replacement https://bitcointalk.org/index.php?topic=67739.02. Remove traction from buying BTC - I think of Ripple payments system exclusively for buy/sell Bitcoins... 3. Bitcoinising communities - every forum\blog must have some plugins that utilize Bitcoins in donation/carma/ratings etc... |
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324
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Bitcoin / Project Development / Re: Bitcoinize boards / forums
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on: March 21, 2012, 07:48:47 AM
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Ok people, we need to think hard how to make it viable....
1. Who receives BTC?
2. Who sends BTC?
3. What every transaction means?
4. How BTC is connected to karma?
5. Incentives...
Can somebody lay down basic strategy so we can start discussing it?
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328
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Bitcoin / Bitcoin Discussion / Re: Project: Bitcoin Find and Fund
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on: March 15, 2012, 03:08:55 PM
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Bitcoin is appealing because it provides functionality that is not possible in any other way. For someone to be carried away by the idea, they have to be in a position where Bitcoin can demonstrate its magic. That's why I think "spreading the word" per se is counter-productive, and attracts the wrong crowd.
+ I also don't understand these stupid threads "Ask them to accept donations in Bitcoin"... You can NOT force people to love you... The only way for anything to succeed is to become attractive enough, let's work in this direction and stop asking people to accept bitcoin into their lives. |
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336
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Bitcoin / Development & Technical Discussion / Re: [Bounty] BIP 0011
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on: March 09, 2012, 03:14:41 AM
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Ok guys, I did not could not wait till full implementation and released bounty now...
Each of the people from this list received 10 BTC
- Luke Dashjr
- Nils Schneider
- Amir Taaki
- Pieter Wuille
- Gregory Maxwell
I want to thanks these people for participating in this BIP... All you guys rock and we owe you a lot for making Bitcoin better...
Special thanks goes to Luke for standing his grounds...
And of course I want to tell that Gavin Andersen continue to lead us into the bright future and I will continue my donation for him...
My personal sympathy goes to Stefan Thomas (justmoon) for simply INCREDIBLE work he has done porting Bitcoin to NodeJS...
I will start to split my donation between Stefan and Gavin from now...
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340
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Bitcoin / Development & Technical Discussion / Re: Rapidly adjusted micropayments and multisig/P2SH
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on: March 05, 2012, 07:01:00 PM
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Also, when 2-party escrow disputes go to arbitration, 3-of-4 addresses may be useful to prevent the parties from accepting the arbitrator's decision but signing off on it themselves and cutting the arbitrator out of her fees. I don't think that's possible with P2SH since AFAICT, its max is n-of-3.
I don't get it... can you elaborate? give me use case |
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