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Author Topic: merged mining vs side-chains (another kind of merged mining)  (Read 6718 times)
Peter Todd
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October 21, 2013, 10:39:11 AM
 #21

killerstorm: https://github.com/petertodd/decentralized-consensus-systems.git <- github repo for that paper; I just added a bunch of todo notes on what needs writing.

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October 21, 2013, 12:05:57 PM
 #22

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We start with an assumption that there exist a financial market which allows one to profit when a price of a certain currency drops.

Recall that short selling is tightly regulated, for that exact reason. If such a market did exist, it'd probably be a black market (for now, at any rate). Anyway, you could apply the same argument to Bitcoin itself. The network is not that hard to DoS, so, perhaps everyone should just give up Wink

It's easy to over think things. When Bitcoin was new a lot of very smart people I talked to about it came up with very reasonable and convincing arguments about why it couldn't work. All those people were wrong. By all means think things through, but be careful of falling into the trap of being too clever!
Don't CampBX and Mpex support short selling already?

OTOH, short selling requires credit, thus trust, something hard to come by in black markets.
Peter Todd
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October 21, 2013, 12:25:06 PM
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Don't CampBX and Mpex support short selling already?

OTOH, short selling requires credit, thus trust, something hard to come by in black markets.

You could also effectively short a merge-mined system - in a trust-free decentralized manner - by using oracle betting like the system alp is working on.

"I bet Namecoin will have a hash rate of X on date Y"

petersiddle98
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October 21, 2013, 12:36:44 PM
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Is it more profitable using merged mining?

Mike Hearn
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October 21, 2013, 01:47:33 PM
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Don't CampBX and Mpex support short selling already?

I don't know, but MPex at least is almost certainly illegal.
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October 22, 2013, 01:23:51 AM
 #26

If you havent already taken a look at the Confidence Chains proposal, I suggest you do.  It solves most of these issues in a very simple way.

https://docs.google.com/file/d/0BwUFHE6KYsM0ZkxLVmFwbXQ3ck0/preview?pli=1

Just who IS bluemeanie?    On NXTautoDAC and a Million Stolen NXT

feel like your voice isn't being heard? PM me.   |   stole 1M NXT?
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