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Author Topic: Open-Transactions the trading system of the future?  (Read 613 times)
BlueWall
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June 21, 2011, 05:05:13 AM
 #1

Please see...
http://forum.bitcoin.org/index.php?topic=20425.0

couldn't join the discussion there because of the noob restrictions.

This is a very comprehensive system and is developing fast. Great concept, built around many complimentary systems.
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flaxindo
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June 21, 2011, 05:38:10 AM
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1) — The typical centralized system is fully-traceable. You are
always under the watchful gaze of the “all-seeing eye”.

But on OPEN-TRANSACTIONS, blind signatures are employed, providing
untraceable digital cash.

I won't pretend to understand that whole post... but getting out from under the all-seeing eye of Sauron is a worthy effort.
BlueWall
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June 21, 2011, 05:47:30 AM
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Some podcasts about it...
If it helps, some people have understood the system better after listening to the Radio interview...
part 1: http://agoristradio.com/?p=234
part 2: http://agoristradio.com/?p=246
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June 21, 2011, 05:50:29 AM
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Thanks!
figvam
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June 21, 2011, 05:58:15 AM
 #5

Reading the FAQ:
Quote
Bitcoin cannot be shut down since there is no central server.
Doesn't a Bitcoin client need to connect to IRC first to get the list of IPs? It sure looks like a single point of failure.
BlueWall
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June 21, 2011, 06:14:32 AM
 #6

The bitcoin client does. Not sure what FT is developing in Open-Transactions. If you have posting rights in the forum where he posted, I'm sure he would answer any questions about what it is using. I know it is using some pretty advanced serializing code. I'm still trying to get my head around it all.


BlueWall
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