Please stop turning into morons just because you see "Brock Pierce" somewhere

[Hippie Tech]

BEWARE of RocketSingh's sig !

https://www.virustotal.com/en/url/83308ba7ae85834568f239d7e27531ad4301d67c395c15541cfa5f053ad81a34/analysis/1405111866/

edit

Coinlearn is clean..

https://www.virustotal.com/en/url/589e20ed6f41634f767c9a37c79de85d990ad4d470c3e93c69a74d753f1be12e/analysis/1405112026/

I'm not sure what u r talking about !!! What is wrong with a CoinLearn.org referral link with goo.gl URL shortener ?

Yes the short url. It seems pointless to be using it in the first place.

@ Rassah  http://hotforwords.com/ 

[Mt. Gox]

I don't really understand all this Brock Pierce hate. Another person's sexuality is none of my business. What matters is his previous track record of financing and starting up companies and his experience with the digital currency market, both of which seem to be up to scratch.

I can't say I'm too happy about his recent Realcoin project but hey, it's a free market.

[seriouscoin]

Very disappointing to see so many uninformed replies in this thread. We should welcome anything that can allow decentralization of exchanges, a fiat or gold backed blockchain is definitively one step in the right direction. The issuer needs to be able to deal with the regulatory challenges and that's no small hurdle to overcome, but if it can be done, this could be amazing.

If given the choice between holding a decentralized but centralized backed currency versus a centralized and centralized backed currency I'd likely go with the former. Imagine if victims of mtgox could trade their goxUSD/goxBTC now? Or what if the holders of gold in e-gold could trade it? Perhaps you don't want to wait for 5 years to get your gold back and rather sell it off to someone who is willing to for a discount?

It's not fully decentralized since you must trust the issuer (and more importantly be aware of the government and their intentions), but it's one step in that direction as you now have full control of the token, while previously it would be stuck in your account on some website. Most importantly you can't run a decentralized exchanges with paypal/bank/pm like you can with a blockchain.

There is another advantage: It minimize the likelihood of failure when the only job of the entity is to secure and distribute the funds, versus also running an exchange and/or payment provider at the same time.

Wasn't someone doing this for gold? I seem to recall that. I'd love to see fully backed gold blockchain. The problem the issuer have is how to be left alone (from government thieves). Is there a place on earth where setting up this will work long-term? Perhaps not, but both e-gold and liberty reserve did last for many years. In 5-10 years bitcoin may very well be so widely accepted that there is no longer a big need for it.

I'm watching this.

Damn i thought you killed yourself. So were you able to get your money back from Mt.Gox? No more CCMF?

[Gleb Gamow]

I don't get why people are upset ?!!  here is the definition of realcoin:

Realcoin eliminates the volatility concern of Bitcoin by being backed by the dollar. It is a one-to-to redemption for each Realcoin in circulation. Utilize Realcoins just like Bitcoin or any other digital currency, but know that it can forever be redeemed for the dollar that originally created it.

Realcoin will be completely transparent, safe, secure and insured. Every dollar that is held in our reserve will be represented by one coin in circulation and can be redeemed at any time.

it means 1 USD = 1 Realcoin fixed, all I understand is that this realcoin will make it easier for third party exchanges or decentralized ones or services that rely on the dollar value at a given moment, and it can be redeemed back to Dollars at any given moment.

I think this is cool to be honest, it is not an altcoin at all.

U mad? Or are u suffering from multiple personality disorder?

NEVER FORGET! https://en.wikipedia.org/wiki/Digital_Entertainment_Network

Karma? http://www.buzzfeed.com/ellievhall/found-the-elusive-man-at-the-heart-of-the-hollywood-sex-abus You're not going to believe what you're about to read. Fair warning, it's a tad long.

[DooMAD]

Very disappointing to see so many uninformed replies in this thread. We should welcome anything that can allow decentralization of exchanges, a fiat or gold backed blockchain is definitively one step in the right direction. The issuer needs to be able to deal with the regulatory challenges and that's no small hurdle to overcome, but if it can be done, this could be amazing.

If given the choice between holding a decentralized but centralized backed currency versus a centralized and centralized backed currency I'd likely go with the former. Imagine if victims of mtgox could trade their goxUSD/goxBTC now? Or what if the holders of gold in e-gold could trade it? Perhaps you don't want to wait for 5 years to get your gold back and rather sell it off to someone who is willing to for a discount?

It's not fully decentralized since you must trust the issuer (and more importantly be aware of the government and their intentions), but it's one step in that direction as you now have full control of the token, while previously it would be stuck in your account on some website. Most importantly you can't run a decentralized exchanges with paypal/bank/pm like you can with a blockchain.

There is another advantage: It minimize the likelihood of failure when the only job of the entity is to secure and distribute the funds, versus also running an exchange and/or payment provider at the same time.

Wasn't someone doing this for gold? I seem to recall that. I'd love to see fully backed gold blockchain. The problem the issuer have is how to be left alone (from government thieves). Is there a place on earth where setting up this will work long-term? Perhaps not, but both e-gold and liberty reserve did last for many years. In 5-10 years bitcoin may very well be so widely accepted that there is no longer a big need for it.

I'm watching this.

An exchange holds both fiat and crypto (supposedly securely) and this will hold fiat and crypto as well.  I don't see a difference there.  If they can add and remove digital tokens as required, it means they have the tokens and if they claim they have an actual dollar for every digital dollar it means they have the fiat as well.  If an exchange can screw up and lose those things, so can this.  If you did get burned by an exchange, the real disappointment is that you would be interested in the next big failure.  This is not an attempt to decentralise a digital dollar for the benefit of the community, this is an attempt to create a monopoly on digital dollars for the benefit of a few investors.  

You won't see as much bashing when a legitimate attempt at decentralised exchanges finally comes around, because we all want that.  This is definitely not it, though.  This is crap.

[Gleb Gamow]

I don't get why people are upset ?!!  here is the definition of realcoin:

Realcoin eliminates the volatility concern of Bitcoin by being backed by the dollar. It is a one-to-to redemption for each Realcoin in circulation. Utilize Realcoins just like Bitcoin or any other digital currency, but know that it can forever be redeemed for the dollar that originally created it.

Realcoin will be completely transparent, safe, secure and insured. Every dollar that is held in our reserve will be represented by one coin in circulation and can be redeemed at any time.

it means 1 USD = 1 Realcoin fixed, all I understand is that this realcoin will make it easier for third party exchanges or decentralized ones or services that rely on the dollar value at a given moment, and it can be redeemed back to Dollars at any given moment.

I think this is cool to be honest, it is not an altcoin at all.

U mad? Or are u suffering from multiple personality disorder?

NEVER FORGET! https://en.wikipedia.org/wiki/Digital_Entertainment_Network

Karma? http://www.buzzfeed.com/ellievhall/found-the-elusive-man-at-the-heart-of-the-hollywood-sex-abus You're not going to believe what you're about to read. Fair warning, it's a tad long.

...but worth the read.

[RawDog]

I don't really understand all this Brock Pierce hate. Another person's sexuality is none of my business.

True that.  Who cares whether or not he is gay as twinkletoes sipping pink bubbly wine from a teacup.  All that shit is fine.  The hate comes from raping children.  Gay or not gay, raping children tends to invoke some backlash. 

[TheKoziTwo]

Very disappointing to see so many uninformed replies in this thread. We should welcome anything that can allow decentralization of exchanges, a fiat or gold backed blockchain is definitively one step in the right direction. The issuer needs to be able to deal with the regulatory challenges and that's no small hurdle to overcome, but if it can be done, this could be amazing.

If given the choice between holding a decentralized but centralized backed currency versus a centralized and centralized backed currency I'd likely go with the former. Imagine if victims of mtgox could trade their goxUSD/goxBTC now? Or what if the holders of gold in e-gold could trade it? Perhaps you don't want to wait for 5 years to get your gold back and rather sell it off to someone who is willing to for a discount?

It's not fully decentralized since you must trust the issuer (and more importantly be aware of the government and their intentions), but it's one step in that direction as you now have full control of the token, while previously it would be stuck in your account on some website. Most importantly you can't run a decentralized exchanges with paypal/bank/pm like you can with a blockchain.

There is another advantage: It minimize the likelihood of failure when the only job of the entity is to secure and distribute the funds, versus also running an exchange and/or payment provider at the same time.

Wasn't someone doing this for gold? I seem to recall that. I'd love to see fully backed gold blockchain. The problem the issuer have is how to be left alone (from government thieves). Is there a place on earth where setting up this will work long-term? Perhaps not, but both e-gold and liberty reserve did last for many years. In 5-10 years bitcoin may very well be so widely accepted that there is no longer a big need for it.

I'm watching this.

Damn i thought you killed yourself. So were you able to get your money back from Mt.Gox? No more CCMF?

I didn't get anything back from mtgox, but I'm expecting that some 20-25% or so will be returned. Yes I got more than 1k BTC stuck, but it's nothing to kill myself over.

Very disappointing to see so many uninformed replies in this thread. We should welcome anything that can allow decentralization of exchanges, a fiat or gold backed blockchain is definitively one step in the right direction. The issuer needs to be able to deal with the regulatory challenges and that's no small hurdle to overcome, but if it can be done, this could be amazing.

If given the choice between holding a decentralized but centralized backed currency versus a centralized and centralized backed currency I'd likely go with the former. Imagine if victims of mtgox could trade their goxUSD/goxBTC now? Or what if the holders of gold in e-gold could trade it? Perhaps you don't want to wait for 5 years to get your gold back and rather sell it off to someone who is willing to for a discount?

It's not fully decentralized since you must trust the issuer (and more importantly be aware of the government and their intentions), but it's one step in that direction as you now have full control of the token, while previously it would be stuck in your account on some website. Most importantly you can't run a decentralized exchanges with paypal/bank/pm like you can with a blockchain.

There is another advantage: It minimize the likelihood of failure when the only job of the entity is to secure and distribute the funds, versus also running an exchange and/or payment provider at the same time.

Wasn't someone doing this for gold? I seem to recall that. I'd love to see fully backed gold blockchain. The problem the issuer have is how to be left alone (from government thieves). Is there a place on earth where setting up this will work long-term? Perhaps not, but both e-gold and liberty reserve did last for many years. In 5-10 years bitcoin may very well be so widely accepted that there is no longer a big need for it.

I'm watching this.

An exchange holds both fiat and crypto (supposedly securely) and this will hold fiat and crypto as well.  I don't see a difference there.  If they can add and remove digital tokens as required, it means they have the tokens and if they claim they have an actual dollar for every digital dollar it means they have the fiat as well.  If an exchange can screw up and lose those things, so can this.  If you did get burned by an exchange, the real disappointment is that you would be interested in the next big failure.  This is not an attempt to decentralise a digital dollar for the benefit of the community, this is an attempt to create a monopoly on digital dollars for the benefit of a few investors. 

You won't see as much bashing when a legitimate attempt at decentralised exchanges finally comes around, because we all want that.  This is definitely not it, though.  This is crap.

The difference is that users will hold tokens in a decentralized manner. Storing the realcoinUSD on their own computer. This will allow decentralized trading of these USD. It also provides transparency since all transactions are stored in a blockchain. E.g for proof of solvency.

And yes, of course the backer can lose money or have them confiscated and that's what I said. I don't believe this is possible to do long term due to regulatory issues. But if it can be done, it's great.

The way I imagine it is multiple USD tokens available. Some may want to trust RealCoin, others may prefer the fully decentralized solution once that arrives. But I think having a decentralized exchange even with something like RealCoin is a step into the right direction.

I'm very much looking forward to the fully decentralized solution, but keep in mind it will come with some disadvantages as well.

[dhenson]

I don't really understand all this Brock Pierce hate. Another person's sexuality is none of my business.

True that.  Who cares whether or not he is gay as twinkletoes sipping pink bubbly wine from a teacup.  All that shit is fine.  The hate comes from raping children.  Gay or not gay, raping children tends to invoke some backlash.  

So if some jackhole accused you of kiddie diddling, we should all just treat you like its true and drag your name through the dirt?

As far as I know he hasn't been convicted of anything.

Edit... question is rhetorical I realize you aren't accusing him.

[Rassah]

http://www.buzzfeed.com/ellievhall/found-the-elusive-man-at-the-heart-of-the-hollywood-sex-abus You're not going to believe what you're about to read. Fair warning, it's a tad long.

Wow, thanks for the article. Such a sad read, one man's descent into insanity drags so many others with him

BTW, Brock was born in 1980, so he was 19 when the lawsuit was brought against the trio in 2000. Alexander Burton, the guy who sued them, was born in 1981, one year later. Anyone else see the absurdity of the "child molester" claims?

[tinof]

http://www.buzzfeed.com/ellievhall/found-the-elusive-man-at-the-heart-of-the-hollywood-sex-abus You're not going to believe what you're about to read. Fair warning, it's a tad long.

Wow, thanks for the article. Such a sad read, one man's descent into insanity drags so many others with him

BTW, Brock was born in 1980, so he was 19 when the lawsuit was brought against the trio in 2000. Alexander Burton, the guy who sued them, was born in 1981, one year later. Anyone else see the absurdity of the "child molester" claims?

This is the first time I heard about his molestation accusation.

Not sure why people bring up old case on how a 19 years old kid behave. We all made mistake when we were young.

[QuestionAuthority]

Great thread Rassah! Funny as shit. I can't believe I missed it back in July.

I don't understand why everyone cares if Brock makes a bunch of money. I think he's a genius. Buy yourself some legitimacy with a seat at TBF then start a business that has real mainstream appeal. He will succeed where Bitcoin can't. You're all just pissed because you wont be a part of it. There will be no great cashout for you to dream about. No to the moon fantasy. No great vacation or new car on your saved up Bitcoins. Volatility that spikes price through the roof will end in the Realcoin world. Oh, Brock and his partners will have great vacations and new cars every year though. He's starting his own mini Federal Reserve. Pure genius!

A non-volatile alternative to Bitcoin

One Realcoin = One USD

Realcoin will use a Bitcoin 2.0 software protocol known as Mastercoin, which takes digitized information about particular assets or contracts and embeds it into bitcoin transactions. In this case, that data will define the rights attached to realcoins. Realcoin founder Mr. Sellars is the chief technology officer of the Mastercoin Foundation.

To ensure realcoins retain their value at one dollar, the firm will maintain a real-time record of its dollar-based reserves, all held in conservative investments, and will subject that record to the blockchain’s authenticating system, Mr. Collins said. Realcoins will be introduced or removed from circulation depending on whether dollars are being added or redeemed.

http://realcoin.com/

[Merriweather]

This thread is absolutely hilarious 

[goose20]

You picked it. What a fascinating read.

Although the concept behind realcoin should be based on its own merits, there's no doubting that Brock's name being associated will/has muddy/muddied the waters.

[TheKoziTwo]

http://www.buzzfeed.com/ellievhall/found-the-elusive-man-at-the-heart-of-the-hollywood-sex-abus You're not going to believe what you're about to read. Fair warning, it's a tad long.

Wow, thanks for the article. Such a sad read, one man's descent into insanity drags so many others with him

BTW, Brock was born in 1980, so he was 19 when the lawsuit was brought against the trio in 2000. Alexander Burton, the guy who sued them, was born in 1981, one year later. Anyone else see the absurdity of the "child molester" claims?

After living in London for about two years, Collins-Rector and Bowles moved to Antwerp, Belgium. Together, they often played an online video game called Entropia Universe, according to people with knowledge of their relationship — Bowles using the name “Colonel Lee Bowles” and Collins-Rector under the moniker “Marcus Slayem Aurelius.” They became prominent players, but in August 2007, members of Entropia Universe identified who “Marcus Slayem Aurelius” really was when a picture of Collins-Rector appeared in a U.K. tabloid article titled “Tycoon paedo on prowl in UK.” The vociferous reaction by many other players soon forced Collins-Rector and Bowles out of the game.

What a weird coincidence. I used to play entropia universe with this guy (Lee Bowles) and had no idea. We went hunting several times. It was kind of amazing back then how he went from having nothing / newbie to buying all the best equipment worth tens and tens of thousand of dollars. Let's just say these two guys have quite a history in the entropia community for anyone who wants to dig deeper...

I only met him on his later avatar however, not the first one "Colonel Lee Bowles" but on an (female) avatar named "x-x brook x-x". I don't think many knew that he was back in game under a different name.

It's a small world.

edit: A screenshot I took back then of his new avatar x-x brook x-x holding a modified first aid kit (worth about $30-40k USD at the time)

[Razick]

The primary problem with RealCoin is that it will confuse the heck out of everyone who doesn't already understand decentralized currency fairly deeply. All the bitcoin-as-currency naysayers who've been yacking about "separate the currency from the network" will look to RealCoin as proof that it can be done. What they're obviously missing is that RealCoin, by having its value backed in series by centralized entities (RealCoin, and the Fed), is not decentralized and therefore offers none of the meaningful benefits of a decentralized currency. You, in fact, cannot separate the bitcoin currency from blockchain technology while retaining the purpose of a blockchain: decentralized global consensus.

But that's not how it'll be billed, or how people will see it. They'll think that they can get the benefits of "bitcoin", or crypto-currency more generally, by using this RealCoin thing; ie, transaction security, quick payments across borders, etc. Trouble is, we can do that stuff with PayPal, Square, Venmo, etc....and much more efficiently!

Blockchains are a real pain. We only use them because they solve distributed consensus and we don't have another good way to do that. If RealCoin is going to "back"/peg something with dollars, they don't need a blockchain, and they certainly shouldn't be calling what they're doing "decentralized" anything.

If this thing gains any traction, it'll trigger a very annoying confusing period for bitcoin/crypto. It doesn't solve anything... People will still have to buy RealCoins with dollars on some fiat-crypto exchange. They could just be buying bitcoin. It *adds* another complexity layer and confusion. That's all.


FWIW, the fact that Brock Pierce is behind this only matters given his role at the *BITCOIN* Foundation. Someone doing the RealCoin concept has been inevitable for a while; just wish it wasn't someone who's supposed to be focusing on promoting bitcoin, as both technology *and* currency.

This echoes my thoughts pretty much exactly and you say it better that I could have.

[DooMAD]

With the exception of this thread getting bumped, I've not seen or heard of anything related to realcoin since the news broke initially.  Is it fair to assume the hype has died down and no one gives a toss?  It's not like there's anything unique or special about it, aside from being a step in completely the wrong direction and worse than any decentralised alt.

[Rassah]

serious question... who or what is Brock Pierce ?

He is a board director of the bitcoin foundation

http://en.wikipedia.org/wiki/Bitcoin_Foundation

I think he got that seat just promising to restart a dead business like MtGox, but afaik he only started his own coin.

He is still working on that MtGox thing from what he told me since I last saw him three weeks ago. And he probably got that seat because he funded and invested tons of his money into a whole lot of bitcoin projects, or companies that support it. Most of it in secret. I was quite surprised to hear how many different bitcoin companies he dumped his own money into, some of which probably owe at least some small thanks for their existence to him.

[Hippie Tech]

Did BP have something to do with Bruno's (aka. Phinnaeus Gage https://bitcointalk.org/index.php?action=profile;u=24792 ) disappearance from this forum ?

https://bitcointalk.org/index.php?topic=602198.0

https://bitcointalk.org/index.php?topic=610521.0


https://bitcointalk.org/index.php?topic=620267.0

https://bitcointalk.org/index.php?topic=621770.0

Or was it something to do with his stolen 1132 BTC ?

https://bitcointalk.org/index.php?topic=587261.0

https://bitcointalk.org/index.php?topic=649176.0

[QuestionAuthority]

Did BP have something to do with Bruno's (aka. Phinnaeus Gage https://bitcointalk.org/index.php?action=profile;u=24792 ) disappearance from this forum ?

https://bitcointalk.org/index.php?topic=602198.0

https://bitcointalk.org/index.php?topic=610521.0


https://bitcointalk.org/index.php?topic=620267.0

https://bitcointalk.org/index.php?topic=621770.0

Or was it something to do with his stolen 1132 BTC ?

https://bitcointalk.org/index.php?topic=587261.0

https://bitcointalk.org/index.php?topic=649176.0

Bruno's still here. He is posting under a couple of other alts now.

https://bitcointalk.org/index.php?topic=747034.msg8447222#msg8447222