rpietila Altcoin Observer

[ArticMine]

I view issues as catastrophic dysfunction of the development process, catastrophic failure of fungibility, catastrophic loss of decentralization (arguably has already happened, though likely is not irreparable quite yet), or even catastrophic damage to the brand (and entirely cultural and not technical issue) as being the sorts of failures that could lead to a somewhat different cryptocurrency becoming dominant.

Yes. There could easily be a situation where different governments start blacklisting coins and trying to become gatekeepers. This might happen somewhat slowly at first and then more quickly if bitcoin is seen as a threat in countries with weaker currencies. Slowly, and then perhaps increasingly quickly, speculators and users will start rebalancing their money into unblacklistable crypos. This might not result in bitcoin losing its #1 spot, but it will result in a crippling of bitcoin. And it may mean that an unblacklistable coin increases 10x in value.

This is distinct from the privacy niche.

That is closely related to the fungibility crisis hedge scenario.  The fungibility crisis is only possible in jurisdictions deriving from English common law.  Those are the jurisdictions, coincidentally, where private currencies are generally accepted and acknowledged by the legal system.  The threat you describe is already manifest, IIRC, under the military dictatorship in Thailand.

Actually the biggest risk here to fungibility may be from private sector players attempting to recover stolen XBT using the courts. Fungibility is actually far more important than privacy as a selling point of XMR for this reason.

[HCLivess]

I wish I knew this thread earlier, although generally I was guided by it

[wizzardTim]

From what it seems qora will be the first worldwide to have AT integrated into its core!

@rpietila: have you checked qora?

you can check the following posts:

• https://bitcointalk.org/index.php?topic=822100.0
• https://bitcointalk.org/index.php?topic=522102.msg9204444#msg9204444
• https://bitcointalk.org/index.php?topic=522102.msg9207780#msg9207780

Since this thread is about observing altcoins, I wonder why I haven't seen more references to qora..

Because its closed-source? or maybe "was" ? it's been a while since last time i've checked it out

It will be OS once the website and some other stuff are done. There is no way this is a scam. I mean the dev constantly keeps updating and communicating with the community. Just be patient.

Regarding OS please check here: https://bitcointalk.org/index.php?topic=522102.msg9208721#msg9208721 It has a link to the first voting for OS.

Guys, we're talking about Complete Turing Engine, before Etherium! https://bitcointalk.org/index.php?topic=770239.0

If this isn't a once-in-a-livetime chance, then what is it?

Maybe it is. But the simple fact that it is still closed-source will be a turn off for many "investors". Also, I don't understand the reasoning behind not going open-source. There is nothing to be afraid of ! Especially clones...  The only way a clone overcome the first implementation of the code is if the community leaves one for the other. The only way it happens is if the community as something to gain from the transfuge. 

Noone said not going open-source. Community just decided not to rush it. It would be better to have some GUI embellishment, website (picture to the outer-world) and featured integrated before going OS imho.

The vast majority of people would say that your community chose wrongly. And the price seems to reflect that decision. Sounds like 'Qora'(the dev) himself is doing a good job, but closed source is a pretty big no-no regardless of whether people fork or clone your code base.

Just the idea that Qora has been out for months now as closed source puts a rain cloud over the project. That alone might forever turn a lot of people off who otherwise might have been interested.

Qora is indeed New Source!! Confirmed by one of the AT devs --> https://bitcointalk.org/index.php?topic=522102.msg9294813#msg9294813

Regarding our previous conversation for Qora:

Open Source is coming in a week: https://bitcointalk.org/index.php?topic=881230.0

So no more doubts that this is a true 2nd gen crypto with innovations.

[1echo]

so any new coins or still XMR talk ?

[Useli Violent]

Anyone know what's up with MAID?
Up almost 50% on Poloniex.

[aminorex]

Anyone know what's up with MAID?
Up almost 50% on Poloniex.

such surges are pretty common in low volume alt markets. speculative momentum generally suffices as an explanation, when no catalyzing event is known.  you will almost certainly learn mUch more in a MAID-specific forum.

[wizzardTim]

Whoever is competent in programming p2p cryptocurrencies, or interested to explore programming code logic, can get ready to view Qora's code:

https://bitcointalk.org/index.php?topic=881230.msg9785384#msg9785384

[wpalczynski]

What are Qora's unique features (selling points)?

Whoever is competent in programming p2p cryptocurrencies, or interested to explore programming code logic, can get ready to view Qora's code:

https://bitcointalk.org/index.php?topic=881230.msg9785384#msg9785384

[wizzardTim]

What are Qora's unique features (selling points)?

Whoever is competent in programming p2p cryptocurrencies, or interested to explore programming code logic, can get ready to view Qora's code:

https://bitcointalk.org/index.php?topic=881230.msg9785384#msg9785384

There are lots of them and more are being developed. There is asset exchange, with qora/asset and asset/asset exchange, multidividends and so on. Automated transactions are being developed by CYIAM, and a first example will be an atomic chain transfer. Arbitrary transactions are also inside the core, as well as a different Pos algorithm (maybe a code guru can analyze it), ability to forge with locked wallet for security, ability to recover a wallet from seed and not just by using a password, decentralized voting (used by community to decide which feature will be implemented next, and name exchange.

It's time i think for devs and people to start building on top of it. Apps, crowdfundings, assets, and more!

[wpalczynski]

What is behind the ripple rise recently?

[arnuschky]

What is behind the ripple rise recently?

Marketing and FUD in the traditional media maybe?
http://www.businessweek.com/news/2014-12-15/bitcoin-bears-say-told-you-so-as-digital-currency-falls

[iCEBREAKER]

What is behind the ripple rise recently?

Something about a huge deal with RBS?

I won't buy into the ATH, but will keep my eye out for a pullback.  Ripple has at least a couple of top shelf devs under their roof.

[aminorex]

What is behind the ripple rise recently?

Something about a huge deal with RBS?

I won't buy into the ATH, but will keep my eye out for a pullback.  Ripple has at least a couple of top shelf devs under their roof.

No, there was no deal with RBS.  There was a hackathon at RBS in which some contestants from RBS integrated XRP into one of their FX platforms, whereupon XRP started on a tear.  It was done for a contest, for show, and not as a product, for use.  Now XRP (and STR) will return to their normal death throes.

[birr]

XRP (and STR) will return to their normal death throes.

Bummer.  That mean I can't tradez btc/usd any more on ripple?

[Its About Sharing]

What is behind the ripple rise recently?

Something about a huge deal with RBS?

I won't buy into the ATH, but will keep my eye out for a pullback.  Ripple has at least a couple of top shelf devs under their roof.

No, there was no deal with RBS.  There was a hackathon at RBS in which some contestants from RBS integrated XRP into one of their FX platforms, whereupon XRP started on a tear.  It was done for a contest, for show, and not as a product, for use.  Now XRP (and STR) will return to their normal death throes.

I don't agree with the principles behind STR and XRP, but at least they are somewhat disruptive to the existing system albeit a servant to them. Not anywhere on the same order as BTC and such, those are replacements.

STR/XRP is probably going to be valuable to the existing financial system, it is a simple cost savings. A mid or long term "investment". I do see some of the banking system integrating it and if it
saves them money (cutting out clearance fees and such), I just see others to follow. But in time, what happens to BTC and the others? We all got that part down.

They still rise and apply more pressure to the existing system. One can argue in a sense that STR/XRP are mini-Trojan Horses, where as BTC is the mother of them all. So, perhaps STR/XRP are just softening up the banking system to give BTC more free reign. 

Whatever happens it is certainly going to get more interesting. I think we are close to having some killer apps for BTC and gaining more global acceptance. Maybe 2015 starts to give us more traction globally. The space is still moving fast but it really comes down to retailers. If BTC is going to save them money, they start accepting it.

IAS

[David Latapie]

I view issues as catastrophic dysfunction of the development process, catastrophic failure of fungibility, catastrophic loss of decentralization (arguably has already happened, though likely is not irreparable quite yet), or even catastrophic damage to the brand (and entirely cultural and not technical issue) as being the sorts of failures that could lead to a somewhat different cryptocurrency becoming dominant.

Yes. There could easily be a situation where different governments start blacklisting coins and trying to become gatekeepers. This might happen somewhat slowly at first and then more quickly if bitcoin is seen as a threat in countries with weaker currencies. Slowly, and then perhaps increasingly quickly, speculators and users will start rebalancing their money into unblacklistable crypos. This might not result in bitcoin losing its #1 spot, but it will result in a crippling of bitcoin. And it may mean that an unblacklistable coin increases 10x in value.

This is distinct from the privacy niche.

Speaking of governements, there is also the possibility to make it irrelevant (for the everyday user) by creating a state-controled sort of clone. PoS with transparent blockchain, cryptofiat.

• Enjoy the "advantage" of a PoS: as long as you have 51% of them, you have them all (you may also premine a PoW at 51% but that would be farther from governement habits). Ripple (and Stellar?) already has the support of banks, this helps a lot.
• Enjoy the "advantage" of transparent blockchain (every non-CryptoNote coin): complete monitoring of the money traffic. Great to fight tax evasion, be sure that no citizen is doing something not allowed, war on terror, etc... and even more tomorrow with pervasive monitoring, i.e. transparent-blockchain-based internet of things (Nick Szabo).

P.-S.: happy new year, altcoin observers!

[Feri22]

What is behind the ripple rise recently?

Something about a huge deal with RBS?

I won't buy into the ATH, but will keep my eye out for a pullback.  Ripple has at least a couple of top shelf devs under their roof.

No, there was no deal with RBS.  There was a hackathon at RBS in which some contestants from RBS integrated XRP into one of their FX platforms, whereupon XRP started on a tear.  It was done for a contest, for show, and not as a product, for use.  Now XRP (and STR) will return to their normal death throes.

I don't agree with the principles behind STR and XRP, but at least they are somewhat disruptive to the existing system albeit a servant to them. Not anywhere on the same order as BTC and such, those are replacements.

STR/XRP is probably going to be valuable to the existing financial system, it is a simple cost savings. A mid or long term "investment". I do see some of the banking system integrating it and if it
saves them money (cutting out clearance fees and such), I just see others to follow. But in time, what happens to BTC and the others? We all got that part down.

They still rise and apply more pressure to the existing system. One can argue in a sense that STR/XRP are mini-Trojan Horses, where as BTC is the mother of them all. So, perhaps STR/XRP are just softening up the banking system to give BTC more free reign.  

Whatever happens it is certainly going to get more interesting. I think we are close to having some killer apps for BTC and gaining more global acceptance. Maybe 2015 starts to give us more traction globally. The space is still moving fast but it really comes down to retailers. If BTC is going to save them money, they start accepting it.

IAS

I am mostly interested and curious what will the OpenBazaar do with the world of e-commerce...Because it could be a really big deal and change the way the online marketplaces work...and Bitcoin being the main currency...can you imagine if you put together amazon + ebay + bitcoin ? Crazy...

[dewdeded]

Anyone did in-depth research about:

1.) BitShares
2.) Stellar (Improvements/Changes) vs. Ripple

?

Thanks in advance for good answers.

[equipoise]

I'll cross-post this BURST post here in the right thread. Any thoughts? Anyone researched it thoughtfully?

this weirdo idea of some experts that bitcoin will be replaced by something better which we should wait for is so brutally flawed that I really wonder what they get their money for.

I see two spaces which will be filled by something other than bitcoin.  The 2.0 smart contracts etc system (counterparty? etherium? nxt?) and privacy. 

I know this is not the right thread to discuss other altcoins, but smart contracts are already a reality. Surprisingly (for me) it was implemented in a coin I treated like a shitcoin (mine and sell whatever the price). The coin is proof of capacity (you mine it on many TBs of HDD) and is called BURST. Here is a recent publication about BURST and smart contracts: https://www.cryptocoinsnews.com/cryptocurrency-burst-makes-smart-contracts-reality-happened-ethereum/. I was just mining it and selling, so I didn't researched it a lot, so everything I know about the coin is that it seems it's not a premine and it's NXT based (but not POS). I have the feeling it's very easy to pump and dump (low market cap, many large miners still not selling) so be extremely careful with it.

[coinits]

I'll cross-post this BURST post here in the right thread. Any thoughts? Anyone researched it thoughtfully?

this weirdo idea of some experts that bitcoin will be replaced by something better which we should wait for is so brutally flawed that I really wonder what they get their money for.

I see two spaces which will be filled by something other than bitcoin.  The 2.0 smart contracts etc system (counterparty? etherium? nxt?) and privacy.  

I know this is not the right thread to discuss other altcoins, but smart contracts are already a reality. Surprisingly (for me) it was implemented in a coin I treated like a shitcoin (mine and sell whatever the price). The coin is proof of capacity (you mine it on many TBs of HDD) and is called BURST. Here is a recent publication about BURST and smart contracts: https://www.cryptocoinsnews.com/cryptocurrency-burst-makes-smart-contracts-reality-happened-ethereum/. I was just mining it and selling, so I didn't researched it a lot, so everything I know about the coin is that it seems it's not a premine and it's NXT based (but not POS). I have the feeling it's very easy to pump and dump (low market cap, many large miners still not selling) so be extremely careful with it.

I am invested in 3 cryptos:

BTC
XMR
BURST

Burst is innovative and I have a fat wallet and will continue to hold until I see it break out and then I will sell a little. Perhaps buy more Monero