Silkcoin - *self-moderated* - Discussion thread about the Silkcoin eco-system

[BadAss.Sx]

grifftech i certainly did not intend fud. hamzatu and bohemianstalker also into idea but if everyone else thinks idea no good then ok. yes i have belief in devs seen how they deliver on time and quality of UI and they have listened to community. cant have too much good pr tho.
been around since 500sats maybe top 3 holder but just started posting. Not sold 1sc no weak hand here in for the long run

Glad to have you. I apologize if I came of harsh, but with all the FUD lately it seemed to fit in to the mold. Since you have given some background information to what you were thinking it is more of a constructive discussion now.

YES!! The meaning of this thread!! Game on...

[BadAss.Sx]

I think one thing that needs to be decided on with this being self-moderated is how we handle quoting of obvious FUD. Once you delete the FUD comment the quote remains and it still causes people to continue on the FUD.

Should we delete comments that quote FUD? I for one say we should but make it well known that is how we will handle this thread. But I think the community should decide that aspect.

Quotes of FUDs will be deleted when it is clear that we are dealing with a FUD. MEGAman and clones are not allowed here.

[godzirra]

I think one thing that needs to be decided on with this being self-moderated is how we handle quoting of obvious FUD. Once you delete the FUD comment the quote remains and it still causes people to continue on the FUD.

Should we delete comments that quote FUD? I for one say we should but make it well known that is how we will handle this thread. But I think the community should decide that aspect.

Quoting fud is just as annoying as the fud itself. If the fud gets moderated then the quotes are fair game as well imo.

[Grifftech2k4]

I think one thing that needs to be decided on with this being self-moderated is how we handle quoting of obvious FUD. Once you delete the FUD comment the quote remains and it still causes people to continue on the FUD.

Should we delete comments that quote FUD? I for one say we should but make it well known that is how we will handle this thread. But I think the community should decide that aspect.

Quotes of FUDs will be deleted when it is clear that we are dealing with a FUD. MEGAman and clones are not allowed here.

Sounds perfect!. It will be nice to have a smart Silkcoin discussion again

[Jacqul]

I would like someone to decompose this paragraph for me in laymen's terms. All I know about BitTor is that I can get free music and movies and have an academic understanding of Public\Private Key. I need to understand the context of this in using the hash algo and all that jazz..

The system proposed is based on the Bitcoin and peer-to-peer protocols. The
Blockchain will be used to handle user registration while the BitTorent network will
handle the distribution of encrypted data via a distributed hash table to insure fast
delivery. Once we are able to identify people via public keys and handle the
registration process with the blockchain while keeping them anonymous,
centralization is no longer needed.

At the moment websites like LocalBitcoins, MtGox etc are all centralized. This means there is a person or company who owns the server, the website etc.
It means that users can log on but they need to be identified by username and password and this info is stored by the centralized company.
It is a bit like having a bank account and a vault where you store your gold. To get in you need to go to a building and pass security and then they unlock your vault and you get your gold.
Previously they would keep a ledger that says what belongs to who. So anyone in the company could change the ledger and so change the ownership of the gold.

Bitcoin moved the ledger into the cloud and distributed it so that it can not be changed except with majority approval.
Your access to the vault is your keys contained in your wallet.

How I understand Silkcoin vision is to move everything into the cloud. Not just the ledger but also the actual "website". Your credentials for logging onto the website will then also be a function of your keys. This means everything will be decentralized. One of the hurdles they have is how such an eco-system will survive in a functional state without any control. This is where the trust and voting comes in.

It all reminds me a bit of Nxt, Maidsafe, but a new take on it and one that seems to already be quite far into development. 2 weeks to beta!!!
This is the direction cryptocurrencies are heading to and the beauty of what cryptography and its application in p2p networking makes possible.
We are heading for a decentralized internet.

[bluepixie]

This new thread is a good thing.

[Swordsoffreedom]

I haven't heard of Silk coin before is this a coin for the Silk Road or something
Would like a bit more information about what it is about etc.

Form the White paper I see it uses a swarm network but how does that operate.
As a storage mechanism or differently?
BitTorrent protocol files are divided into pieces and the torrent file is used to check the integrity of the hashes.

[R2-D2R2]

Excellent idea it was about time

[Grifftech2k4]

[BadAss.Sx]

I haven't heard of Silk coin before is this a coin for the Silk Road or something
Would like a bit more information about what it is about etc.

Form the White paper I see it uses a swarm network but how does that operate.
As a storage mechanism or differently?
BitTorrent protocol files are divided into pieces and the torrent file is used to check the integrity of the hashes.

Feel free to read the announcement thread (https://bitcointalk.org/index.php?topic=599438.0). There is a lot of info there, but the discussion has been destroyed by fudders. So if you want a clean discussion, feel free to do it here.

[WhiteNotWright]

I would like someone to decompose this paragraph for me in laymen's terms. All I know about BitTor is that I can get free music and movies and have an academic understanding of Public\Private Key. I need to understand the context of this in using the hash algo and all that jazz..

The system proposed is based on the Bitcoin and peer-to-peer protocols. The
Blockchain will be used to handle user registration while the BitTorent network will
handle the distribution of encrypted data via a distributed hash table to insure fast
delivery. Once we are able to identify people via public keys and handle the
registration process with the blockchain while keeping them anonymous,
centralization is no longer needed.

At the moment websites like LocalBitcoins, MtGox etc are all centralized. This means there is a person or company who owns the server, the website etc.
It means that users can log on but they need to be identified by username and password and this info is stored by the centralized company.
It is a bit like having a bank account and a vault where you store your gold. To get in you need to go to a building and pass security and then they unlock your vault and you get your gold.
Previously they would keep a ledger that says what belongs to who. So anyone in the company could change the ledger and so change the ownership of the gold.

Bitcoin moved the ledger into the cloud and distributed it so that it can not be changed except with majority approval.
Your access to the vault is your keys contained in your wallet.

How I understand Silkcoin vision is to move everything into the cloud. Not just the ledger but also the actual "website". Your credentials for logging onto the website will then also be a function of your keys. This means everything will be decentralized. One of the hurdles they have is how such an eco-system will survive in a functional state without any control. This is where the trust and voting comes in.

It all reminds me a bit of Nxt, Maidsafe, but a new take on it and one that seems to already be quite far into development. 2 weeks to beta!!!
This is the direction cryptocurrencies are heading to and the beauty of what cryptography and its application in p2p networking makes possible.
We are heading for a decentralized internet.

The fact that you mentioned GOX has me in tears. Did you groom that original content from somewhere?

That is the way I took this topic, in that most of the authentication was going to be recorded within the blockchain. What I did not fully understand (or wrap my head around) was the concept of how the BitTor was to be used for P2P authentication and using hashing. It was presented (in my interpretation) as an ancillary infrastructure component?

I think the internet is already decentralized. I think that was a DARPA objective (lol) - you did mean in the context of the Crypto as a Service (CaaS)?

[Grifftech2k4]

I haven't heard of Silk coin before is this a coin for the Silk Road or something
Would like a bit more information about what it is about etc.

Form the White paper I see it uses a swarm network but how does that operate.
As a storage mechanism or differently?
BitTorrent protocol files are divided into pieces and the torrent file is used to check the integrity of the hashes.

Sword, here is a link to the official OP for Silkcoin https://bitcointalk.org/index.php?topic=599438.msg6595806#msg6595806

Some community members decided to make a self-moderated thread due to excessive FUD in the official thread so we can have adult discussion without childlike behavior.

[Grifftech2k4]

I haven't heard of Silk coin before is this a coin for the Silk Road or something
Would like a bit more information about what it is about etc.

Form the White paper I see it uses a swarm network but how does that operate.
As a storage mechanism or differently?
BitTorrent protocol files are divided into pieces and the torrent file is used to check the integrity of the hashes.

Feel free to read the announcement thread (https://bitcointalk.org/index.php?topic=599438.0). There is a lot of info there, but the discussion has been destroyed by fudders. So if you want a clean discussion, feel free to do it here.

I think we were separated at birth

[Grifftech2k4]

I would like someone to decompose this paragraph for me in laymen's terms. All I know about BitTor is that I can get free music and movies and have an academic understanding of Public\Private Key. I need to understand the context of this in using the hash algo and all that jazz..

The system proposed is based on the Bitcoin and peer-to-peer protocols. The
Blockchain will be used to handle user registration while the BitTorent network will
handle the distribution of encrypted data via a distributed hash table to insure fast
delivery. Once we are able to identify people via public keys and handle the
registration process with the blockchain while keeping them anonymous,
centralization is no longer needed.

At the moment websites like LocalBitcoins, MtGox etc are all centralized. This means there is a person or company who owns the server, the website etc.
It means that users can log on but they need to be identified by username and password and this info is stored by the centralized company.
It is a bit like having a bank account and a vault where you store your gold. To get in you need to go to a building and pass security and then they unlock your vault and you get your gold.
Previously they would keep a ledger that says what belongs to who. So anyone in the company could change the ledger and so change the ownership of the gold.

Bitcoin moved the ledger into the cloud and distributed it so that it can not be changed except with majority approval.
Your access to the vault is your keys contained in your wallet.

How I understand Silkcoin vision is to move everything into the cloud. Not just the ledger but also the actual "website". Your credentials for logging onto the website will then also be a function of your keys. This means everything will be decentralized. One of the hurdles they have is how such an eco-system will survive in a functional state without any control. This is where the trust and voting comes in.

It all reminds me a bit of Nxt, Maidsafe, but a new take on it and one that seems to already be quite far into development. 2 weeks to beta!!!
This is the direction cryptocurrencies are heading to and the beauty of what cryptography and its application in p2p networking makes possible.
We are heading for a decentralized internet.

Awesome explanation! Made things clearer for me also!

[WhiteNotWright]

If you are a big Pink Floyd community, I will never leave lol

[Grifftech2k4]

If you are a big Pink Floyd community, I will never leave lol

Who's Pink Floyd? Is that a new crypto developer?

[WhiteNotWright]

If you are a big Pink Floyd community, I will never leave lol

Who's Pink Floyd? Is that a new crypto developer?

PuddinCoin

[R2-D2R2]

BadAss.Sx check pm.

[Grifftech2k4]

If you are a big Pink Floyd community, I will never leave lol

Who's Pink Floyd? Is that a new crypto developer?

PuddinCoin

hahaha PuddinCoin!! Dude I am so going to make that and it will be my own P&D coin! Bill Cosby's face on the logo and everything!

[godzirra]

The lower the price goes the larger the buys are. Exactly what I like to see in a good coin. Positive price action despite the lower price. I wonder if the miners were waiting for the WP to dump?