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Author Topic: like it or not, the SR is only killer application of bitcoin since it was born,  (Read 3245 times)
HorseRider
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October 17, 2011, 12:34:32 PM
 #1

except speculative bubble.

bitcoin need killer applications, disruptive innovations, not just better than traditional.

I think bitcoin as a payment system is fine, but it will be really difficult to win a significant market share in the payment market. Yes, it may be cheaper in some circumstances, but better things will not automatically win, as currency has strong network effect.

Actually, every corner in this world need drugs to getting high. why not someone just create a copy SR, make it open source or sell the source code at a reasonable price, and make sure the code is easy to translated into different languages, so all the ppl around the world can get heroins easily.

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October 17, 2011, 12:38:28 PM
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I believe if the code on how Silk Road operates was released, whatever tricks that keep it going would not be as useful.  They have the formula for how to make Coke, except no copyright protection, so understand if they are secretive.

Bitcoin will become more of a payment option for people when it becomes more necessary or useful to do transactions that way.  Natural user growth is happening, people in it for trading moving out while people who like it for tech, political, or whatever reasons stay in.

If the market calls for more Silk Road type things, it would happen, but I think the opposite is happening, governments are just becoming more relaxed on caring about drug use.

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October 17, 2011, 12:40:32 PM
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use yes, distributing? no

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October 17, 2011, 03:56:59 PM
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I agree that Silk Road was the best thing that ever happened to Bitcoin. Unfortunately, it was also Silk Road that attempted to kill Bitcoin. $31 to $2.46 you can lay directly at their door for their response to some idiots who said some worthless words on TV.

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October 17, 2011, 04:21:24 PM
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I agree that Silk Road was the best thing that ever happened to Bitcoin. Unfortunately, it was also Silk Road that attempted to kill Bitcoin. $31 to $2.46 you can lay directly at their door for their response to some idiots who said some worthless words on TV.

Is it possible to have another SR?


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October 17, 2011, 04:25:36 PM
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I think there already is I was told.. black market or something or other. Its not exactly difficult to make ofcourse there will be copys lol.
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October 17, 2011, 04:31:43 PM
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It's easy to build software. It's hard to build reputation. Silk Road could not be easily replaced (hell, it already has someone trying to compete).

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October 17, 2011, 05:26:33 PM
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It's easy to build software. It's hard to build reputation. Silk Road could not be easily replaced (hell, it already has someone trying to compete).

does SR have multiple language versions? if so, that would be cool. but such market need localization.

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October 17, 2011, 05:35:41 PM
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I agree that Silk Road was the best thing that ever happened to Bitcoin. Unfortunately, it was also Silk Road that attempted to kill Bitcoin. $31 to $2.46 you can lay directly at their door for their response to some idiots who said some worthless words on TV.

Is it possible to have another SR?



That's what I was wondering. Also I think it -may- happen when people off real gold bullion for BTC.  The "Silk Road" for Gold.

Being able to anonymously turn wealth -> btc -> drugs was a boom.  The same thing for Gold could be a bigger boom.

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October 17, 2011, 06:12:14 PM
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Being able to anonymously turn wealth -> btc -> drugs was a boom.  The same thing for Gold could be a bigger boom.

It has always struck me that Bitcoin could be very useful as a medium for transferring many things, but particularly PM's, across the world.  Provided that there are parties in both locations who want their PM's in the other.

A transaction could be 'ratcheted in' is what I mean.  So, if we are doing 10 Krugs, some BTC is transferred, then one KR is handed over and BTC (plus some more) is transferred back.  Rinse and repeat until the transaction is done.  No one party can rip off the other party for anywhere near the total value.  Could be done with other types of money than BTC, but Bitcoin is probably the best choice at this time due to the speed, robustness, and privacy properties that it has.

A bonus is that it would not be illegal (as far as I know...and if it is, it shouldn't be.)  Should work as long as the exchanges are open so that, of course, a person left holding BTC as the result of a ripoff would not be high and dry.

I even registered a domain name the other day in case I someday decide to build a platform to facilitate this class of transactions.  Likely I'll never do it though.

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October 17, 2011, 08:17:19 PM
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Stupid question but you mean you can actually buy gold in rather better quantities or that it is difficult for people to do so?
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October 17, 2011, 08:59:43 PM
 #12

@johnj: do you mean something like http://coinabul.com ?

@tvbcof: pm  Huh


It is a petty that a lot of the most promising applications are illegal or morally objectionable (and I do not mean porn).


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October 17, 2011, 09:01:36 PM
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Being able to anonymously turn wealth -> btc -> drugs was a boom.  The same thing for Gold could be a bigger boom.

It has always struck me that Bitcoin could be very useful as a medium for transferring many things, but particularly PM's, across the world.  Provided that there are parties in both locations who want their PM's in the other.

A transaction could be 'ratcheted in' is what I mean.  So, if we are doing 10 Krugs, some BTC is transferred, then one KR is handed over and BTC (plus some more) is transferred back.  Rinse and repeat until the transaction is done.  No one party can rip off the other party for anywhere near the total value.  Could be done with other types of money than BTC, but Bitcoin is probably the best choice at this time due to the speed, robustness, and privacy properties that it has.

A bonus is that it would not be illegal (as far as I know...and if it is, it shouldn't be.)  Should work as long as the exchanges are open so that, of course, a person left holding BTC as the result of a ripoff would not be high and dry.

I even registered a domain name the other day in case I someday decide to build a platform to facilitate this class of transactions.  Likely I'll never do it though.


Some countries like China regulates transferring money very strictly. They even have policy on exchange (limit the amount of USD being exchanged per individuals/business)

I dont know what their governments can do to block bitcoin, but i'm sure as hell they can shut down any btc exchange operating in their countries.

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October 17, 2011, 09:29:21 PM
 #14

@johnj: do you mean something like http://coinabul.com ?

Er, yeah.  Do they deliver the physical goods?  In that case, why doesn't he do more advertising  Grin

(also, I believe cryptoX will be doing this as well).

The silk road was around for longer than BTC, and there was quite a time of overlap before the boom.

But people who want to buy gold anonymously?  That's big money.  Not just your teenager trying to get high for the weekend.

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October 17, 2011, 09:53:12 PM
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Being able to anonymously turn wealth -> btc -> drugs was a boom.  The same thing for Gold could be a bigger boom.

It has always struck me that Bitcoin could be very useful as a medium for transferring many things, but particularly PM's, across the world.  Provided that there are parties in both locations who want their PM's in the other.

A transaction could be 'ratcheted in' is what I mean.  So, if we are doing 10 Krugs, some BTC is transferred, then one KR is handed over and BTC (plus some more) is transferred back.  Rinse and repeat until the transaction is done.  No one party can rip off the other party for anywhere near the total value.  Could be done with other types of money than BTC, but Bitcoin is probably the best choice at this time due to the speed, robustness, and privacy properties that it has.

A bonus is that it would not be illegal (as far as I know...and if it is, it shouldn't be.)  Should work as long as the exchanges are open so that, of course, a person left holding BTC as the result of a ripoff would not be high and dry.

I even registered a domain name the other day in case I someday decide to build a platform to facilitate this class of transactions.  Likely I'll never do it though.


Some countries like China regulates transferring money very strictly. They even have policy on exchange (limit the amount of USD being exchanged per individuals/business)

I dont know what their governments can do to block bitcoin, but i'm sure as hell they can shut down any btc exchange operating in their countries.


For the system I was thinking of, I'm not expecting that it would be an exchange or anything resembling one in a structural way.  It would be more of a place which would assist in laying out plans and schedules , and provide users with an ability to review one-another's performance.

The system I am thinking of would bend over backward to avoid any sort of tracking, and would not provide any escrow-like services or deal with user's money in any form.  Possibly it could check things out in a block-explorer manner, but that's about it.  Escrow services could be arranges with third parties if they are desired by the participants.

A different (but related) class of problem then exchanging something like Krugerrands on a 1-to-1 basis would be something like this:

 - I want an old motorcycle engine that can only be found in Thailand and I want someone there to go through a sequence of steps including locating a shop, finding out prices for various kinds of work, commissioning the work, arranging shipping, etc.

 - I would be happy to pay incremental fees as the work proceeds, particularly if it were clearly layed out and agreed upon up front.  If a suitable item cannot be located, the transaction can stop, but the party in Thailand will have gotten some reimbursement for his efforts.

 - If things are proceeding well, Bitcoin would allow multiple transactions per day so the whole thing could be expedited relative to other solutions if things are going smoothly.

A framework such as I am envisioning would allow me to obtain hopefully valid feedback on the person I'm dealing with (and he on I) in addition to helping lay out and agree upon a plan of action.  Common things would probably develop templates and require not very much work at all.

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November 09, 2011, 01:17:43 AM
 #16

The ability to transfer funds worldwide without major timing, fee or regulation issues is a killer feature. Combined with the ability to store value, Bitcoin is incredibly awesome for pretty much... everyone.

Everybody who sells software online, virtually the entire financial sector, and websites with donations, hell most of the internet longs for something like Bitcoin. Silk Road is nothing more than a little media hype that becomes meaningless if Bitcoin ever gets serious.
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November 09, 2011, 01:20:02 AM
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The ability to transfer funds worldwide without major timing, fee or regulation issues is a killer feature. Combined with the ability to store value, Bitcoin is incredibly awesome for pretty much... everyone.

Everybody who sells software online, virtually the entire financial sector, and websites with donations, hell most of the internet longs for something like Bitcoin. Silk Road is nothing more than a little media hype that becomes meaningless if Bitcoin ever gets serious.

+1

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November 09, 2011, 01:26:35 AM
 #18

The ability to transfer funds worldwide without major timing, fee or regulation issues is a killer feature. Combined with the ability to store value, Bitcoin is incredibly awesome for pretty much... everyone.

Everybody who sells software online, virtually the entire financial sector, and websites with donations, hell most of the internet longs for something like Bitcoin. Silk Road is nothing more than a little media hype that becomes meaningless if Bitcoin ever gets serious.

+1

+1 agree

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November 09, 2011, 01:35:38 AM
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I think when multiplue signature implemented, more serious business will come to Bitcoin.

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November 09, 2011, 01:54:15 AM
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I think when multiplue signature implemented, more serious business will come to Bitcoin.

Apps too. I'm still fantasizing about a p2p prediction market.  Cheesy
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