Bitcoin Forum
April 25, 2024, 08:07:36 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: The only way that governments will successfully compete with Bitcoin  (Read 658 times)
Last of the V8s
Legendary
*
Offline Offline

Activity: 1652
Merit: 4392


Be a bank


View Profile
April 17, 2019, 05:36:55 PM
Merited by theymos (5)
 #21

First Chaumian Ecash Server Coming Soon
https://www.hookedin.com/
https://www.hookedin.com/overview/
discussion https://youtu.be/1pcKQIXPbec Block Digest #172 22minutes in

1714032456
Hero Member
*
Offline Offline

Posts: 1714032456

View Profile Personal Message (Offline)

Ignore
1714032456
Reply with quote  #2

1714032456
Report to moderator
1714032456
Hero Member
*
Offline Offline

Posts: 1714032456

View Profile Personal Message (Offline)

Ignore
1714032456
Reply with quote  #2

1714032456
Report to moderator
1714032456
Hero Member
*
Offline Offline

Posts: 1714032456

View Profile Personal Message (Offline)

Ignore
1714032456
Reply with quote  #2

1714032456
Report to moderator
"You Asked For Change, We Gave You Coins" -- casascius
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714032456
Hero Member
*
Offline Offline

Posts: 1714032456

View Profile Personal Message (Offline)

Ignore
1714032456
Reply with quote  #2

1714032456
Report to moderator
1714032456
Hero Member
*
Offline Offline

Posts: 1714032456

View Profile Personal Message (Offline)

Ignore
1714032456
Reply with quote  #2

1714032456
Report to moderator
1714032456
Hero Member
*
Offline Offline

Posts: 1714032456

View Profile Personal Message (Offline)

Ignore
1714032456
Reply with quote  #2

1714032456
Report to moderator
morrisgonzalez
Jr. Member
*
Offline Offline

Activity: 98
Merit: 1


View Profile
April 17, 2019, 06:37:33 PM
 #22

Compete with bitcoin is not easy job but when governments go for that compete with bitcoin then it's a big threat for bitcoin. Bitcoin is such a difficult to maintain, it's technology is difficult to run on the proper way. If the government compete with bitcoin I'm little bit confused that what's happen with bitcoin. But my question is now many country accept bitcoin officially then why governments compete bitcoin? Is bitcoin become a threat for currency or something else?
theymos (OP)
Administrator
Legendary
*
Offline Offline

Activity: 5180
Merit: 12884


View Profile
April 17, 2019, 10:01:21 PM
 #23

First Chaumian Ecash Server Coming Soon
https://www.hookedin.com/
https://www.hookedin.com/overview/
discussion https://youtu.be/1pcKQIXPbec Block Digest #172 22minutes in

That sounds pretty interesting and on the right track, though their website is incomplete, and it sounds like it might be fractional reserve:
our business model is based in locking in the bitcoin deposited in the system and not withdrawn for 12-24 months.

I'd really love it if it's not fractional reserve and the "bank" is actually a multisig of several independent entities. But as long as it works well and actually uses blind signing, it'll be good to see.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
MakeMoneyBtc
Full Member
***
Offline Offline

Activity: 1092
Merit: 117


View Profile
April 17, 2019, 10:41:00 PM
 #24

Compete with bitcoin is not easy job but when governments go for that compete with bitcoin then it's a big threat for bitcoin. Bitcoin is such a difficult to maintain, it's technology is difficult to run on the proper way. If the government compete with bitcoin I'm little bit confused that what's happen with bitcoin. But my question is now many country accept bitcoin officially then why governments compete bitcoin? Is bitcoin become a threat for currency or something else?
Crypto is a threat to governments because they have absolutely no control over it which means they don't have control over peoples money anymore like they do right now with banks. People start to realize that and are moving their fiat funds to cryptocurrencies and that's why cryptocurrencies have become a threat to governments.
tunapa
Jr. Member
*
Offline Offline

Activity: 667
Merit: 1


View Profile
April 17, 2019, 10:49:51 PM
 #25

I feel in some time to come this will happen that the US wil create their own coin in a way that will be centralized and stable to compete and try to defeat bitcoin. Somehow people will be thrilled to adopt this over bitcoin because of some features of centralization and others. This is going to be a big problem for bitcoin in the near future if eventually they come out with their own coin.
Transisto
Donator
Legendary
*
Offline Offline

Activity: 1731
Merit: 1008



View Profile WWW
April 23, 2019, 07:31:48 PM
 #26

Is it supposed to be functional?

How do you get an address to send to a hookins?
Last of the V8s
Legendary
*
Offline Offline

Activity: 1652
Merit: 4392


Be a bank


View Profile
April 23, 2019, 07:43:52 PM
 #27

Is it supposed to be functional?

How do you get an address to send to a hookins?
not yet really it's only testnet
follow along/learn more https://github.com/hookedin

Last of the V8s
Legendary
*
Offline Offline

Activity: 1652
Merit: 4392


Be a bank


View Profile
October 23, 2019, 09:49:43 PM
Last edit: October 24, 2019, 11:59:39 AM by Last of the V8s
Merited by theymos (10)
 #28

bump with new development

https://twitter.com/NickSzabo4/status/1187089734910136326
Quote
Privacy for layer 2? @chaumdotcom's blind signatures revisited:

Digital bearer certificates, trust-reduced and privacy-protected with Chaumian blinding:

https://opaque.link/post/scrit-vision/
Quote
Scrit has the potential to fulfill the necessary properties of a future oriented digital anonymous payment system. And we are thrilled to work on making it a reality.


edit https://youtu.be/mjt7pQkPbSA
Great talk by Smuggler
Quote
In this talk we shall explore the necessary properties of government-independent value transfer systems, how to decentralize DBCs, and what a future with digital anonymous micro-transactions means for the realization of cryptoanarchist ideas.

DrDoofenshmirtz
Copper Member
Jr. Member
*
Offline Offline

Activity: 36
Merit: 80


View Profile WWW
July 26, 2021, 08:46:44 PM
Merited by nutildah (13)
 #29

Is it supposed to be functional?

How do you get an address to send to a hookins?
not yet really it's only testnet
follow along/learn more https://github.com/hookedin

Hi! Just wanted to let you know that hookedin has been rebranded into "Moneypot" and is currently live on testnet for anyone to try out:

https://wallet.moneypot.com (using: https://testnet.moneypot.dev as the custodian)

Curious to know what the current state of the other project (Scrit) is? Can't find any representation on the forum though there seems to be some stuff on github which does not immediately make clear how far they are in terms of development..?



To reiterate some stuff that also has been mentioned in the ANN thread:

- moneypot allows for (free) internal transactions (using internal lightning invoices, if you were wondering how to try it out), and is supposed to be completely free of any unproveable repudiation by making almost all interaction certified by signatures proving your intent, both from the custodian and the user. So (almost) every action is hashed and then signed using the keys of either the custodian, or the keys of the coins involved in the transfer if the action is coming from the user. The idea is that both parties verify this during and after the transaction to keep communications fair.

The biggest caveat currently is that it still is a centralized entity, which apart from naturally raising anguish and discomfort, makes it especially vulnerable to attacks from third-parties, insiders (us) and mistakes in the custodian code that go unspotted (though we are fully open-source).

With the upcoming Taproot activation, it seems like an interesting option to explore to see if we can leverage schnorr either in the form of multisigs or threshold sigs schemes to make moneypot decentralized in the sense that funds are held by multiple signers and every signer keeps their own record of all off-chain actions, and then have a master custodian relay all actions from users and initiate on-chain transfers... If there is enough interest in this whole chaumian bank idea at all.

Though the above description of ideas is intentionally vague and not so much concrete because I (at least) am not (yet) well-acquainted with said scripting (threshold sig), and the upcoming taproot update, so we will really have to look into this to see if this will even be possible to concoct in combination with stuff such as lightning.

That being said, we're currently in the process of gathering some feedback before deciding if we're going live on mainnet, so if you're interested in trying out the wallet, I'd say eat your heart out! We are really desperate for any criticism at all!
blckhawk
Sr. Member
****
Offline Offline

Activity: 1484
Merit: 326


★Bitvest.io★ Play Plinko or Invest!


View Profile
September 29, 2021, 05:42:24 AM
 #30

the government doesn't really need to compete with bitcoin, they do this to have control over it, because if they do not control the price and the use of bitcoin then it could make the value of USD crash because instead of USD being the international currency, then bitcoin will take its place. this will mean the downfall of US economy and could destroy their country internally.



BIG WINNER!
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░▄███
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████
██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░
▀██░▄▄▄▄░████▄▄██▄░░░░
▄████████████▀▀▀▀▀▀▀██▄
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄
▀██░████████░███████░█▀
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████
▀████████████████████▀




Rainbot
Daily Quests
Faucet
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!