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Author Topic: [SKY] Skycoin Launch Announcement  (Read 381231 times)
skycoin
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October 31, 2014, 08:50:28 AM
 #1361

i doubt it will ever launch heh

Ya. We could have done the IPO in January. I cant remember what stopped the IPO from happening.

The IPO does not mean its done, or even that it works. It just means the coin is trading publicly. If Skycoin succeeds, it will spawn fifty clone-coins before we even have the software working.

Bitcoin took the form it did (a single large, global world internet currency) because of mining. Only the coin with the most hashing power can be secure. Bitcoin ended up being radically different than the intention many people had for cryptocurrencies. Bitcoin is still a stepping stone to the next stage. Bitcoin is priming the pump. Almost all the mined coins are pump and dumps. A very few of them are very innovative however.

There are groups of people of various sizes and they want to start their own digital currencies. They have looked at Bitcoin, but they cannot afford enough mining equipment to make it work. As soon as mining is eliminated and unnecessary, the landscape will change. You will see a lot of "community currencies", towns, websites and smaller groups like American Indians on reservations issuing their own coins. Every private Bitorrent tracker will have their own coin. You may even see companies begin to issues currencies to customers and suppliers.

These coins will be more local and relevant. Most of them will fail, but a few will make it. These coins are going to be inter-operable from day one. It wont matter if a merchant accepts Dogecoin or Litecoin or Bitcoin, whatever you have in your wallet will convert over at the spot price and users will not even think about it. Merchants may choose to hold profits in one currency and users may have a completely different set of currencies they hold. It will be a two-sided market.

There will not be a "litecoin ATM" or a "Bitcoin ATM", it will just be called an ATM. As routine transactions become automated, income, debt and credit will start to creep in. Very few people right now have income in Bitcoin and the things you can buy with Bitcoin are still limited, but that will change as we go into stage two.

Stage three will probably be an attack on the idea of currency itself. Bitcoin is a small technical achievement. Regulators can handle it. Libertarians were screaming and making scary noises about how "revolutionary" and "threatening" Bitcoin was and the regulators calmed down when they realized that Bitcoin is same as cash or gold. Its just another commodity. Bitcoin is not any more "threatening" than someone trading a gold ETF back and forth between two accounts. Governments will just put some reporting requirements on it and make sure they get their tax money when you buy anything.

Stage three is already laying the technical foundation for computer mediated systems of exchange that are radically and conceptually different than anything that has existed. Look at Ripplepay and the idea that money itself is just credit and debt. In Ripplepay money transcends its origin as a commodity and becomes a system of contracts and relations in a network. The role of money as a commodity inevitably becomes separated from the role of money as a unit of account.

Technology is enabling the creation of new objects, with new properties and relations that no previous object had. To own a gold bar is to possess it. To transfer ownership you physical move the bar into the possession of someone. In Bitcoin, "ownership" was transformed from its physical form, to knowledge. The "owner" of the Bitcoin is the one who "knows" the private key to authorize transfer of the Bitcoin.

If a coin is secured by two public keys, held by two parties and one party publishes the private key for their public key, the other person and now only that person can authorize the transfer of the coins. The "ownership" has changed without the coin having even moved. Merely the state of knowledge in the world has changed, without even touching the blockchain and yet the Bitcoin has changed hands.

Bitcoin would need a 2 trillion dollar marketcap to even represent one percentage point of global wealth (the foundation of security provided by the mining process will be severely threatened before we get there) . The end game is not 2 million dollar clone-coin pump and dumps. It is systems of exchange that will represent single or double percentage points of global assets and financial wealth. The correct investment horizon is probably five to twenty years.  In the excitement of two new coins launching every day, people are forgetting how far off the end goal is and underestimate the sacrifices required to get there.

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October 31, 2014, 04:04:37 PM
 #1362

nice progress! how do you think Nxt?
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October 31, 2014, 11:41:43 PM
 #1363

I love reading the updates. As mentioned, the IPO simply means the coin is traded, which we can see thousands of at the moment. The real importance is to get the software working as functionally and error-free as possible. This will be the true launch and I'm sure everyone is happy (or need to be) to wait for this development.

nice progress! how do you think Nxt?

Was thinking the same thing.

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November 02, 2014, 09:51:12 PM
 #1364

i doubt it will ever launch heh

Ya. We could have done the IPO in January. I cant remember what stopped the IPO from happening.

The IPO does not mean its done, or even that it works. It just means the coin is trading publicly. If Skycoin succeeds, it will spawn fifty clone-coins before we even have the software working.

Bitcoin took the form it did (a single large, global world internet currency) because of mining. Only the coin with the most hashing power can be secure. Bitcoin ended up being radically different than the intention many people had for cryptocurrencies. Bitcoin is still a stepping stone to the next stage. Bitcoin is priming the pump. Almost all the mined coins are pump and dumps. A very few of them are very innovative however.

There are groups of people of various sizes and they want to start their own digital currencies. They have looked at Bitcoin, but they cannot afford enough mining equipment to make it work. As soon as mining is eliminated and unnecessary, the landscape will change. You will see a lot of "community currencies", towns, websites and smaller groups like American Indians on reservations issuing their own coins. Every private Bitorrent tracker will have their own coin. You may even see companies begin to issues currencies to customers and suppliers.

These coins will be more local and relevant. Most of them will fail, but a few will make it. These coins are going to be inter-operable from day one. It wont matter if a merchant accepts Dogecoin or Litecoin or Bitcoin, whatever you have in your wallet will convert over at the spot price and users will not even think about it. Merchants may choose to hold profits in one currency and users may have a completely different set of currencies they hold. It will be a two-sided market.

There will not be a "litecoin ATM" or a "Bitcoin ATM", it will just be called an ATM. As routine transactions become automated, income, debt and credit will start to creep in. Very few people right now have income in Bitcoin and the things you can buy with Bitcoin are still limited, but that will change as we go into stage two.

Stage three will probably be an attack on the idea of currency itself. Bitcoin is a small technical achievement. Regulators can handle it. Libertarians were screaming and making scary noises about how "revolutionary" and "threatening" Bitcoin was and the regulators calmed down when they realized that Bitcoin is same as cash or gold. Its just another commodity. Bitcoin is not any more "threatening" than someone trading a gold ETF back and forth between two accounts. Governments will just put some reporting requirements on it and make sure they get their tax money when you buy anything.

Stage three is already laying the technical foundation for computer mediated systems of exchange that are radically and conceptually different than anything that has existed. Look at Ripplepay and the idea that money itself is just credit and debt. In Ripplepay money transcends its origin as a commodity and becomes a system of contracts and relations in a network. The role of money as a commodity inevitably becomes separated from the role of money as a unit of account.

Technology is enabling the creation of new objects, with new properties and relations that no previous object had. To own a gold bar is to possess it. To transfer ownership you physical move the bar into the possession of someone. In Bitcoin, "ownership" was transformed from its physical form, to knowledge. The "owner" of the Bitcoin is the one who "knows" the private key to authorize transfer of the Bitcoin.

If a coin is secured by two public keys, held by two parties and one party publishes the private key for their public key, the other person and now only that person can authorize the transfer of the coins. The "ownership" has changed without the coin having even moved. Merely the state of knowledge in the world has changed, without even touching the blockchain and yet the Bitcoin has changed hands.

Bitcoin would need a 2 trillion dollar marketcap to even represent one percentage point of global wealth (the foundation of security provided by the mining process will be severely threatened before we get there) . The end game is not 2 million dollar clone-coin pump and dumps. It is systems of exchange that will represent single or double percentage points of global assets and financial wealth. The correct investment horizon is probably five to twenty years.  In the excitement of two new coins launching every day, people are forgetting how far off the end goal is and underestimate the sacrifices required to get there.
This is worthy reading for several times. Nice philosophy of crypto currency.
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November 03, 2014, 12:01:35 AM
 #1365

looking forward to it.

Eternal Spring Donation BTC:14iFZWgH4AxSuSJxDV7WNf51Wj5Y2r88XC
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November 03, 2014, 12:29:14 AM
 #1366

Is this the official thread of Skycoin? Still in development?

Yes it is. IPO coming up.
I hate IPO coins, too many SCAMs... Sad

If there is escrow available then i see no problem

yes, there is still the problem that ipo can be selfbought by the one releasing it (free premine of any size)

I can't buy ipo/ico, sorry. No matter how good the coin looks. And any coin launched via IPO i will not trade before it survived a year minimum.

Ipo makes a coin toxic.

Just my 2 cents. Would have loved to buy this, but ipo: stick it up the ass

escrow isn't by far the only concern with ipo/ico
loveyouforever
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November 03, 2014, 02:32:58 AM
 #1367

Is this the official thread of Skycoin? Still in development?

Yes it is. IPO coming up.
I hate IPO coins, too many SCAMs... Sad

If there is escrow available then i see no problem

yes, there is still the problem that ipo can be selfbought by the one releasing it (free premine of any size)

I can't buy ipo/ico, sorry. No matter how good the coin looks. And any coin launched via IPO i will not trade before it survived a year minimum.

Ipo makes a coin toxic.

Just my 2 cents. Would have loved to buy this, but ipo: stick it up the ass

escrow isn't by far the only concern with ipo/ico

Quite the opposite, I like IPO/ICO coins, but there is a prerequisite, it will NOT be a huge IPO/ICO like Ethereum, Maidsafe,Suprnet, or the price will be f**k up.
LemonAndFries
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November 03, 2014, 02:41:31 AM
 #1368

i doubt it will ever launch heh

Ya. We could have done the IPO in January. I cant remember what stopped the IPO from happening.

The IPO does not mean its done, or even that it works. It just means the coin is trading publicly. If Skycoin succeeds, it will spawn fifty clone-coins before we even have the software working.

Bitcoin took the form it did (a single large, global world internet currency) because of mining. Only the coin with the most hashing power can be secure. Bitcoin ended up being radically different than the intention many people had for cryptocurrencies. Bitcoin is still a stepping stone to the next stage. Bitcoin is priming the pump. Almost all the mined coins are pump and dumps. A very few of them are very innovative however.

There are groups of people of various sizes and they want to start their own digital currencies. They have looked at Bitcoin, but they cannot afford enough mining equipment to make it work. As soon as mining is eliminated and unnecessary, the landscape will change. You will see a lot of "community currencies", towns, websites and smaller groups like American Indians on reservations issuing their own coins. Every private Bitorrent tracker will have their own coin. You may even see companies begin to issues currencies to customers and suppliers.

These coins will be more local and relevant. Most of them will fail, but a few will make it. These coins are going to be inter-operable from day one. It wont matter if a merchant accepts Dogecoin or Litecoin or Bitcoin, whatever you have in your wallet will convert over at the spot price and users will not even think about it. Merchants may choose to hold profits in one currency and users may have a completely different set of currencies they hold. It will be a two-sided market.

There will not be a "litecoin ATM" or a "Bitcoin ATM", it will just be called an ATM. As routine transactions become automated, income, debt and credit will start to creep in. Very few people right now have income in Bitcoin and the things you can buy with Bitcoin are still limited, but that will change as we go into stage two.

Stage three will probably be an attack on the idea of currency itself. Bitcoin is a small technical achievement. Regulators can handle it. Libertarians were screaming and making scary noises about how "revolutionary" and "threatening" Bitcoin was and the regulators calmed down when they realized that Bitcoin is same as cash or gold. Its just another commodity. Bitcoin is not any more "threatening" than someone trading a gold ETF back and forth between two accounts. Governments will just put some reporting requirements on it and make sure they get their tax money when you buy anything.

Stage three is already laying the technical foundation for computer mediated systems of exchange that are radically and conceptually different than anything that has existed. Look at Ripplepay and the idea that money itself is just credit and debt. In Ripplepay money transcends its origin as a commodity and becomes a system of contracts and relations in a network. The role of money as a commodity inevitably becomes separated from the role of money as a unit of account.

Technology is enabling the creation of new objects, with new properties and relations that no previous object had. To own a gold bar is to possess it. To transfer ownership you physical move the bar into the possession of someone. In Bitcoin, "ownership" was transformed from its physical form, to knowledge. The "owner" of the Bitcoin is the one who "knows" the private key to authorize transfer of the Bitcoin.

If a coin is secured by two public keys, held by two parties and one party publishes the private key for their public key, the other person and now only that person can authorize the transfer of the coins. The "ownership" has changed without the coin having even moved. Merely the state of knowledge in the world has changed, without even touching the blockchain and yet the Bitcoin has changed hands.

Bitcoin would need a 2 trillion dollar marketcap to even represent one percentage point of global wealth (the foundation of security provided by the mining process will be severely threatened before we get there) . The end game is not 2 million dollar clone-coin pump and dumps. It is systems of exchange that will represent single or double percentage points of global assets and financial wealth. The correct investment horizon is probably five to twenty years.  In the excitement of two new coins launching every day, people are forgetting how far off the end goal is and underestimate the sacrifices required to get there.

Out of all the FUD, statements, and opinions in this forum; this is by far the best analyses I have read about crypto currencies and their future.

You should seriously think about writing more statements like this.

It's refreshing to see another mind that takes facts and comes to such logical conclusions/assumptions.
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November 03, 2014, 03:53:19 AM
 #1369



Quite the opposite, I like IPO/ICO coins, but there is a prerequisite, it will NOT be a huge IPO/ICO like Ethereum, Maidsafe,Suprnet, or the price will be f**k up.

ipo/ico in crypto ALWAYS involves a great deal of trust the ones issuing it won't buy into it themselves which will be almost never the case. I suspect 99,9% of ipo/ico in coins to be a scam because it's just too easy to make some extra money with it by selfbuying the ico (free coins).

Escrow  can't protect you from the issuer selfbuying his own ico
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November 04, 2014, 08:29:07 PM
 #1370

Hey Skycoin!
I have to say that your narrative is very impressive, but the extent of secrecy surrounding this coin's development is a little frustrating Smiley
I see you started playing around with Trello, but that didn't go too far.. Don't you want to get back into that? You could use that to entertain your audience a little Wink
Anyway, looking forward to any news on this one Cheesy

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November 12, 2014, 03:34:19 AM
 #1371

Update

The recent attacks on Tor and incidents with Bitcoin are putting pressure on us to release.

Changes
- Standardizing serialization formats.
- Finishing documentation.
- changes to internal organization of /src/visor (which runs the blockchain). The wallet manager is moved out of visor. Visor has golang interface based upon the Obelisk Darkwallet API, then another module will run a web-server and manage your local wallets and checks for balances and so on. This makes it more flexible for using visor as a library without running a full node.
- All the branches are on same version of networking library now. We are going to branch that off into its own repo. I think we can pull that in as dependency from the public repo and see what is left in the daemon module, then move that somewhere. Then everything should be in order.

When documentation is done, there are a small series of golang libraries that need to be developed. This is great project for anyone who knows golang.

Darknet/Distribution Application Security Concerns

The Skycoin web wallet is using Webkit renderer and Google V8. We believed that we could run darknet apps securely on top of same infrastructure, where the javascript and data was from a synced MerkleDAG store replicated locally. This would allow Dark-market type functionality and more complicated applications. Since the data is local, the page load time is zero for static content. So it would be much faster than tor and also protects the host from DDoS attacks, as the static data and updates to that data is replicated peer-to-peer rather than querying server for each page request.

We assumed that a remote service could not break out of the sandbox, regardless of input to the sandbox. The Javascript engine and rendering engine is huge and has a large number of dependencies. Google is rapidly making changes and there are bugs, crashes and zero day exploits. We cannot rule out a zero day exploit that might arise in future or be present in the version being used. The webkit window is running in separate process, which adds some security, however its not perfect.

Google intends to compile and run Blink and V8 inside of Portable Native Client (PNaCl). This would solve the security problems and ensure sandboxing regardless of exploits in V8 or Blink. However, Google is not ready with this yet and it may be a few months. V8 appears to be running in NaCl however.

Portable Native Client, PNaCl is a subset of LLVM Bitcode (the binary representation of LLVM intermediate form). It is compiled down by LLVM to a machine dependent format. There are checks to ensure that the program cannot perform operations that would escape sandbox.

PNaCl takes C/C++ (gcc toolchain) and outputs a subset of LLVM Bitcode. Then the bitcode is compiled to native code with LLVM. The compiled binary is verified and modified so that it cannot break out of sandbox if executed. The slowdown from V8 inside of NaCl sandbox is 50%, but this is acceptable for the security.

Network and file access occur through an API. The application does not have native access to network or file system. This prevents the application from being able to find the IP of the machine it is run on or other identifiable information.

This type of high security browser would be good frontend for rendering and interacting with darknet applications. It is also relevant for the Tor project, as there is less room for meta-data leaks and browser exploitation.

We know for instance, that there was a zero day in a firefox XML library that could be triggered through javascript, which has ability to hijack the process. If a hidden service is seized or compromised, that attack could have been used to identify users and install a backdoor or key logger on their computer or merely obtain their IP address.

Another concern is browser fingerprinting. A darknet application should be unable to identify a computer uniquely, by running a program on it. We are not sure if LLVM Bitcode to NaCl bitcode is deterministic. Run times for various operations will vary between different CPUs and this can be used to finger print. If the compilation from Bitcode to NaCl is not deterministic, then a specific cached compilation of a darknet app can be fingerprinted.

Interpretation of the LLVM Bitcode on an emulator type virtual machine, eliminates finger printing but slows it down. V8 uses runtime code generation which makes this approach frustrating, because it now requires implementing a secure x86 emulator rather than a simpler and more flexible emulator that implements LLVM Bitcode.

Natively compiled code may be subject to microcode exploits. V8 may even allow microcode vulnerability exploitation from javascript, given that it is doing run-time compilation to machine code. A microcode exploit may allow a computer to be rooted by clicking a link over tor/darknet, where the page runs specific javascript. However, this would only be used against a high value target. The only way to mitigate this attack is to disable javascript or compile everything down to LLVM IR, interpret the code on an interpreter for the IR.

That was our original approach, but I dont see how it will work with Blink/V8 as the frontend for the application.

What we can now works and its very secure, but in long term we have to work out these problems.


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November 12, 2014, 04:20:58 AM
 #1372

Still, this is one my favourite coins, the dev seems incredible knowledgeable and talented. Though he need some help on the front of community building and marketing.
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November 18, 2014, 12:57:04 AM
 #1373

Why not partner up and join forces with David Zimbeck and Bitbay?

Lets not partner up the skycoin dev who seems an extremely knowledgeable developer with David Zimbeck who is a the centre figure of the Bitbay scam..

Skycoin seems to me the most amazing project, don't mix it with the Bitbay scammers!
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November 18, 2014, 02:57:47 PM
 #1374

Looks like a very interesting project, I'll keep watching
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November 18, 2014, 03:53:20 PM
 #1375

it seems like a lot of time has been lost ....you should have created a community, like bitsharetalk where you have the best minds discussing skycoin. they have over 100,000 posts with 7k active members....while you guys have been working hard, but the community has been nothting but idle.

now momentum from recent current events have been passing you and we have to struggle to catch up

you say you want to launch soon, but then you disappear for another 3 weeks and post again. and then same thing...pattern of disappearing and posting.

im pretty livid right now....remember how you said ipo was gonna launch in sept?
HOW about the IPO of skycoin?
or any other ways to take part in ?

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November 20, 2014, 12:36:15 PM
 #1376

When? :-))))

I can't wait Sky coin be released, when it will be released? Hopefully, after a classic, as Daikoku said "not for long".
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November 20, 2014, 10:41:50 PM
 #1377

When? :-))))

I can't wait Sky coin be released, when it will be released? Hopefully, after a classic, as Daikoku said "not for long".

This project is definitely the dark horse of crypto right now. We'll just have to wait and see Wink
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November 21, 2014, 12:43:44 PM
 #1378

can wait to see.....

IOTA
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November 24, 2014, 08:35:09 AM
 #1379

when the alpha testing start?
I like the distributed market idea
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November 24, 2014, 08:38:42 AM
 #1380

Why not partner up and join forces with David Zimbeck and Bitbay?

Lets not partner up the skycoin dev who seems an extremely knowledgeable developer with David Zimbeck who is a the centre figure of the Bitbay scam..

Skycoin seems to me the most amazing project, don't mix it with the Bitbay scammers!

+1 to altcoinuk.

Bitbay is a experiment coin under David Zimbeck's name, whose Smart Contract is a kid's toy compared to XCP, Ehter, and maybe Skycoin too.

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