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Author Topic: What will happen to your favorite alt-coin?  (Read 17124 times)
ANiceJewishBoy
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November 07, 2013, 07:36:36 PM
 #161

Please share or use this information:
http://www.youtube.com/watch?v=Rdn0OU4JrsU

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ANiceJewishBoy
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November 08, 2013, 06:26:36 PM
 #162

I'm saving up to pay a developer to make a coin and I almost have enough. It's going to be something the community really needs.

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November 08, 2013, 08:44:28 PM
 #163

I found this great thread that can further enhance any alt-coin outthere, everything you need to get going with Open Transactions.

https://bitcointalk.org/index.php?topic=212490.msg2251931#msg2251931

Edit: phenomenal literature http://ft.vm.to/files/britto/FT-thoughts.pdf

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ANiceJewishBoy
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November 09, 2013, 12:54:48 AM
 #164

I found this great thread that can further enhance any alt-coin outthere, everything you need to get going with Open Transactions.

https://bitcointalk.org/index.php?topic=212490.msg2251931#msg2251931

A lot to read, I'm checking it out though.

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ANiceJewishBoy
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November 09, 2013, 06:19:21 PM
 #165

Quote
…and get money back out again. I assume by this you mean "legacy cash money in hand" and/or "legacy money in the legacy bank."

--- Keep in mind that most transfers will happen inside the OT system, or on the blockchain…
--- That is, while bailing legacy cash in/out of the system is possible, that should not happen for each and every transaction….
--- Also keep in mind that once you bailout BTC or colored coins from an OT server, then it has passed outside the sphere of OT, and you can cash it out in whatever conventional way that you normally would, based on the existing market for Bitcoin services. (This would be an option as well.)
--- …Therefore I restricted my Bitmessage examples to only cases where the two parties both are transacting within OT. (The reason being that we can then assume that OT's powers apply -- such as markets and escrow.)

That having been said, here are various options I can imagine for bailing legacy funds into/out of the system …

=> Bitcoin ATMs. These were at the Bitcoin 2013 Conference in various configurations, and so the option is rapidly approaching to use them.

=> Through your social network: This was always what enamored me of the Ripple idea originally -- that instead of using a centralized exchange, you can just "go through your friends." And if your friend will hand you some cash in return for a Ripple transfer, then similarly he should be willing to hand you some cash in return for an OT or blockchain transfer. (And vice-versa.)

=> Geolocation: Apple has recently publicized the concept of people providing ATM service for each other. Your iPhone just finds someone nearby who hands you $60. (At the same time, $62.50 is charged to your iTunes account.)
The same could clearly work for colored coins in a P2P app. (Even the open-source community could easily build such an app using OT -- though Monetas itself possibly could not, depending on the status of Apple's patent.)

=> SEPA transfer: In Europe, bank users can quickly and easily send transfers to each other's accounts through the SEPA API, and verify whether such transfers have been made.

=> Meetups: There are already local Bitcoin meet-ups; thus it seems like a viable method of exchange for cash.

=> Gateways: (Ripple seems to have popularized this nomenclature, so I'm going to use it here.) This is any business that users are willing to trust for the purposes of sending/receiving bank wires, SEPA transfers, ACH transfers, etc.

===> The main difference here is that in the case of Open-Transactions, your funds would not be stored as an IOU from the gateway. Many have said that on this forum, but that is not actually the case. On OT, you are buying/selling BTC and colored coins, instead of issuing IOUs.
(Issuers do have the ability on OT to issue IOUs, but that is not the solution I've suggested in this thread. Rather, I've suggested to store the actual coins in voting pools so that an OT server can transact them without having to be trusted not to steal them.)

===> In the case of OT, the "gateway" becomes a "trader". Instead of holding IOUs from a gateway, you are purchasing or selling BTC or colored coins from a trader. And that Trader is NOT an OT server -- but another OT user, like you!
And since this transaction is occurring inside an OT server:
- it will be instant, instead of requiring blockchain confirmations.
- It can be performed on a market, where orders are automatically matched according to their criteria.
- It can be performed through the use of escrow -- and the terms of that escrow can be customized by the parties (since the escrow itself is implemented as a smart contract -- and users can customize their own smart contracts.)
- Via Bitmessage, wallets can coordinate cross-server wiring of funds, as well as cross-server order matching, and cross-server discovery of other wallets willing to make transfers in/out of the legacy banking system, by way of OT escrow.

===> In any case, whether you are obtaining IOUs from a gateway (Ripple), or whether you are buying/selling BTC and colored coins from a trader (OT), either way, I assume that such businesses will be willing to take/pay cash at their physical locations, and bank wires otherwise. (Otherwise, why are they even in this business?) Therefore, you can move legacy funds in/out through such businesses.
Personally, I prefer cash-in-hand over IOUs, which is why OT places such a high value on the ability to customize your escrow terms.

=> Bank Wires: One example of why I prefer cash-in-hand: If you purchase precious metals for physical delivery, you will discover that orders can be shipped based on a bank wire, yet the same business is not willing to ship based on a credit card purchase (due to chargeback risk.)
Therefore bank wires are a valid method for getting money in/out of the bank account, albeit slow and expensive.

=> Bitcoin Exchanges: exchanges are one way to trade Bitcoins for national currency and get a bank wire, so it deserves to be on this list. Any BTC traded on an OT server could presumably be bailed-off of OT and cashed-in through a Bitcoin exchange (with the laws in that jurisdiction applying.)

=> The original issuer: In the case of colored coins, there is some issuer in some jurisdiction who originally created--and has agreed to redeem--those colored coins. Presumably he could be paid (and pay others) through BTC or through bank wires or cheques.
NOTE: Most actual users shouldn't have to deal with this guy directly. Another note: Once users have uploaded these coins into multi-sig voting pools, they can then devise basket currencies to hold and transact with. This enables users to distribute the risk of a single currency across many issuers.

=> Prepaid card / bank card: It seems that a prepaid card could be given to the user, with funds placed onto the card easily enough based on whether the user had paid the card issuer on OT.
- Escrow probably not necessary in this case, and card issuers can demand to be pre-paid.

My Negative Rating is For Bringing a Dead Thread Back to Life, Just BTW. Click The Link To See For Yourself.
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ANiceJewishBoy
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November 09, 2013, 07:50:09 PM
 #166

Please visit this thread and just say "w00t" or something so that people end up seeing the thread
https://bitcointalk.org/index.php?topic=329338.0

I promise Social media is more important to Bitcoin than everyone thinks.

My Negative Rating is For Bringing a Dead Thread Back to Life, Just BTW. Click The Link To See For Yourself.
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ANiceJewishBoy
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November 09, 2013, 08:53:46 PM
 #167

Everyone in this thread should buy at least 1 book about Community Organizing.

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ANiceJewishBoy
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November 11, 2013, 04:55:53 PM
 #168

I ordered a few books that will help me make this thread even more epic than it is.

My Negative Rating is For Bringing a Dead Thread Back to Life, Just BTW. Click The Link To See For Yourself.
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ANiceJewishBoy
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November 18, 2013, 06:43:28 PM
 #169

4,200 Views on this thread. There's no way there's not one company out there talking to a C++ knowledgeable person and working on getting this done.

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ANiceJewishBoy
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November 18, 2013, 07:29:50 PM
 #170

Is your coin as easy to get (without mining equipment or money) as Devcoin?
https://www.youtube.com/watch?v=XWsmx6JmqCc
https://www.youtube.com/watch?v=6eMy2e2FEH4
https://www.youtube.com/watch?v=wsM9BKo4lAk

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ANiceJewishBoy
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November 19, 2013, 07:59:00 PM
 #171

Has anyone heard of any new coins lately that could make it?

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haightst
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=)Warning: Trade with extreme caution!*LOL!


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November 19, 2013, 08:02:27 PM
 #172

Has anyone heard of any new coins lately that could make it?

Butterfly coin[-SHA-256 type-] ~> is this one around somewhere?

*LOL with 7 BILLION coins to be minted!-> but the dev is legit as fvck!!!

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November 20, 2013, 07:34:02 AM
 #173

Read & Share
https://bitcointalk.org/index.php?topic=340059.0

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December 07, 2013, 09:40:38 PM
 #174

You can create wealth by making it easier for people to transact (and money is the world's best invention for doing that, barter is terribly inefficient).

True, but there is a LOT more opportunity in the unused bitcoin features.  A "governing" protocol for stable and socially-desirable value can be implemented using the script and n of m features (it can theoretically replace government in addition to banks).  

That sounds a lot like the alternative local currency movement-- create a local currency that somehow expresses the local community's values.

I'm probably just a too-logical, cold-hearted geek, but building community around a currency doesn't strike a chord with me. To me, community is about people, and a currency is just a tool for transactions. I guess an analogy would be a bunch of carpenters who build a community around some Extra Special brand of nails that they create and trade amongst themselves.
All communities build themselves around the currency by enacting laws to control others through penalties and subsidies in the currency.  If there is to be a government, then it centers around the flow and control of the currency because currency is about control of society's resources, as guided by law.
 
By using bitcoin's Script and n of m features to define the value of each coin in each transaction, you could point to local laws, or a "voting" or "intelligence gathering" coin to socially define the value of the coin in the transaction.  In other words, by being party to defining the value of the coin at the transaction level, society is implementing local law for overall societal good (and thereby presumably increasing the average happiness of the citizen). A free market operating under rule of law with competition benefits both parties to the transaction. But this often causes harm to parties external to the transaction like biosphere destruction. A free market with government only ensuring the transactions are fair also does not make life the average person's life easier or better because markets seek lowest price which means cheapest, most desperate labor either through overpopulation or stressful working conditions.  Free trade results in desperate workers replacing happy workers because the products can cross borders but the votes (laws) and culture do not. South Koreans are very wealthy and very technological and yet most of Latin America has happier school children (South Korean Children: http://qz.com/153380/korea-is-the-worlds-top-producer-of-unhappy-school-children/ ).

Globally, the value of the coins could be determined by a universally-agreed-upon script which should be based on a basket of commodities. This is an old and very widely supported idea (Buffett's mentor Graham wrote two books on, and I've seen Hayek and Keynes support it). It keeps price signals constant, but it also prevents economic bubbles by restricting money supply when there is a shortage of commodities (or, in the case of bitcoins, changing their value at time of transaction).  But I would make the basket "per person" to improve the quality of life on Earth for each person because the poor and middle class need commodities more.  The world economy gets a stimulus until there are more commodities per person, and vice versa. This is needed despite Austrian exclamations because prices and wages are sticky beyond rational price setting. By keeping the basket of commodities constant in terms of a scripted 'worldcoin' everyone up the production chain can estimate their future costs more accurately, and the massive commodity producers can invest large capital more wisely.

To clarify, prices and wages are "sticky" so it has been traditionally easier to change the quantity of money in the system if there is a bubble forming (bitcoins will need to have their transactional value changed since you can't print more coins).  Of course we completely abandoned the proper use of this money restriction and stimulus about 1995 (or really 1971) in order to create a stock market and house construction bubble. I'm expressing this as an inflation and deflation of value in the currency, but it is only following a basket of commodities which is the best known measure of value so people can make plans for the future such as in contracts and investing.  It is the shelf prices and wages that get out of whack with correct valuation but they are reluctant to change. The key in an efficient marketplace is stable value of the currency just as much as ease of transfer of funds.

To do better, the scripted coins would have value at transaction as dictated in a way that increases average human happiness. Commodities/person measure is only at a global level. More local communities could define the value in theirs coin to achieve more precise objectives that they estimate would result in higher average happiness.  Recently there have been efforts to replace GDP thinking in governments with "GNH" (gross national happiness) to guide policy better.

Think of economies as artificial intelligence machines.  Specifically it is an evolutionary algorithm of interacting agents seeking individual profit (Eric Drexler had an interest in it in his Agoric papers).  The currency injected into the system is the "food" the top level programmer of the A.I. program is issuing in order for the "economy" of his AI agents to discover the optimum solution to a larger problem.  The word economy is derived from "economical use of resources".  In A.I. the resources that need to be used economically are the CPU and memory space.  In large economics the resources are the commodities (food, energy, metals, cement, electronic parts, etc).  Government guided by votes is supposed to help decide what the goals of the system are.  World domination?  Citizen happiness?

Bitcoins without smart scripting are just a tool for storing and transferring "value" without defining it.  

I wrote a much longer post yesterday to explain all this in more detail.

Cryptocurrencies change everything for "value" in the same way the internet changed everything for "information". 

Bitcoins are the logical COMPLIMENT of traditional bits due to being un-copyable.
Compare:
PUBLIC "internet bits" are FREE and have a value judged by the INDIVIDUAL reader.
PRIVATE bitcoins have COST and have a value judged by the SOCIAL exchanges.

This has deep implications that are as serious as the internet itself. 

Cryptocurrencies that can allow their value to be intelligently governed is to humanity what the internet has been to computers. 
Bitcoin-hotep
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July 02, 2014, 10:42:10 PM
 #175

Wanted to bring back an interesting thread while maybe showing some people the ideas in this new one
https://bitcointalk.org/index.php?topic=675271

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July 04, 2014, 07:01:28 PM
 #176

Making a coin can be daunting, so here is the easy way.

This website let's you make a free coin, and has an upgraded paid version.
http://coincreator.net/

This one is only paid, but it's cheaper than the other sites paid version.
http://www.coingen.io/

Anyone can make a coin, it's as simple as typing in a few values, then creating a thread to share your coin with everyone.

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October 27, 2016, 01:55:03 PM
 #177

Blazecoin - BLZ

Dev is trustworthy.

For a decent cause.

http://blazeco.in/
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