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Author Topic: BitARSE my ass :D  (Read 736 times)
titcoint
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March 02, 2011, 10:42:18 AM
 #1

bitARSE  Huh pure genious

my 50 cent:
just like the test net, the client could support multiple "currencies".
instead of reinventing the wheel:

ignoring encryption aspect: what enforces the current bitcoin system is the transaction validation which is done by clients (1) as it spreads over the p2p network of miners (2) of which an honest (using the same validation routines) miners block generation will be transmitted further (3) if the network agrees they are valid. i.e. taking as input 50 BTC and splitting it up as 35 + 35 BTC will be considered invalid. Hence questions wheither the value reputation as a new currency should be inflationless, "adds" multiplicatively or what not, can be encoded in the validation routine, and any acception of it by bitcoin users would depend on their adoption of these currencies.

Hence I propose that just like BTC and test coins, the codebase be refactored a little, so that people can design their own candidate
"currency name"-"interpretation"-"transaction combining splitting formula" triples which can gain in popularity if found to be usefull.

for example "later action trust"-"Satisfactorily trusted to be paid your money before serving his work or other action like sending goods"-"I1*I2*I3=O1*O2*O3"
and another like "later payment trust"-"Satisfactorily trusted to be served your work/action before receiving payment"-"1/I1+1/I2+1/I3=1/O1+1/O2+1/O3"
or a general "global trust"-"May be trusted with confidential information"-"tired of making up random validatable formulas"
or other than trust: "human feedback"-"listens to customers"-"..."
"flexibility"-"offers lots of choices (not necessarily human, as long as the resolution/range of choices was beneficial)"-"young moduli formula"

usefull descriptors would be used more and some found to be reliable, others will fade away (how many people use test net vs BTC?)... instead of triples there would be more pieces of information like pointers (URL) to authors motivation for his "value", explaining why people should care about this gauge, an explicit description of when and how they should "spend"/assign this value to people, and of course a thorough explanation for the currency, ...

Now in this transaction formula more information can be used than just inputs and outputs, perhaps it also depends on the total currency in circulation according to blockchain, or perhaps the the largest transaction using a moving average over last so many days, ...

Consider the case that the formula is exactly the same as for BTC namely sum of inputs = sum of outputs, then clearly we have just another bitcoin let me call it "goodness", and yet another "frankness", then some "goodness" and "frankness" will circulate, then there is reasonable fear that rich people will buy some bitcoins and use them to anonymously buy "goodness" from some (poor but "good") people. this is clearly not wanted, can this be prevented?

with (nearly) zero sum currencies the conversion rates of 3 currencies are never so that you can keep converting cyclically to make money.
This is good if they all try to convey the same meaning: monetary trusted value to interchange between goods without resorting to direct trade (trading car for boat).

Suppose the 2 extra currencies are not zerosum currencies: sum of input =/= sum of outputs <=> sum of inputs - sum of outputs =/= 0; then it is most likely that exchange rates will contain an amplification in one direction and loss in the other. This would make it such that every party tries to convert in the profitable direction, ... but nobody wants to trade in the opposite direction (unless you dont believe in benefit from the value) so that "goodness" or "frankness" will not be systematically bought/sold... these dynamics should be carefully scrutinized and potential flaws mentioned to the users.

I could be completely wrong...

Also the formulas could contain combinations of currencies: where G and F point to goodness and frankness "IG+IF=OG*OF" perhaps sets of equations?...

So I envision a transaction selector choosing the type of transaction one wants to make.
There you will be able to find a long list of transactions sorted by personal preference or whatever, complete with instructions on how it should be used and reasoning behind them. Also a platform on bitcoin.org for value transaction proposals, for flaw checking and feedback so that for every proposed value, both creator and forum can have their say on what is good or bad about that specific value-interpretation-transaction formula.

To me it seems that everything is already in bitcoin, I myself have not become familiar with the source code itself though...
I would really like it if there was a form on bitcoin.org where one could specify a currency and its transfers, and proposable names. together with guidelines so that it can be included in clients..., if users dont care they can just ignore it like test net...

In a sense this will digitize more of our moral values...

No coercion.

Greetings!
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There are several different types of Bitcoin clients. EWallets are like banks -- a central organization has complete control over your money. You shouldn't put much money in EWallets.
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March 02, 2011, 11:10:02 AM
 #2

titcoins could very well be one Smiley
genjix
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March 02, 2011, 11:43:14 AM
 #3

If you want it then make it Grin
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