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freequant
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August 22, 2014, 12:54:42 AM |
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Crosspost from Reddit, because holyshit guys! You've really been falling apart in the last few weeks! And why the fuck am I the only one to realize the following? We need a decentralized exchange! First step? Get USD into a digital decentralized form!Remember the years worth of calls for a decentralized exchange? This call-to-action was raised every time an exchange collapsed somewhere, whether due to bank closures, or owners disappearing with people's money. Many attempts were made at this, yet, so far, none are functional or useful. The solution exists since two years and is named Ripple. Ripple may still be controversial due to the initial distribution of its native currency but at least it's not associated with child abuse. |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Rassah (OP)
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Activity: 1680
Merit: 1035
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August 22, 2014, 05:57:40 AM |
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Are you the official advocate of this dipshit?  Not at all. I've met the guy, and like him, but am in no way associated with him. I'm just an official advocate of not being a moron. Also, it's interesting that you think if an 18 yo has sex with a 17 yo, that makes him a pedo  The solution exists since two years and is named Ripple.
Ripple may still be controversial due to the initial distribution of its native currency but at least it's not associated with child abuse.
Isn't Ripple, like, dead now? And how can you set up atomic transactions with the thing if it's not blockchain based (actually, I hang out with A LOT of bitcoiners at the DC and Baltimore meetups, and at various bitcoin conferences, and I don't know anyone who uses Ripple. Maybe they all keep it as a personal shameful secret?). And guilt by association is not guilt. Sorry. |
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QuestionAuthority
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You lead and I'll watch you walk away.
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August 22, 2014, 05:22:47 PM |
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BurtW has been *ahem* involved in some interesting stuff. I know he was one of the big passthroughs in the Pirate@40 Ponzi. I didn't know he was involved in this though. I know Bruno was raising a stink about being ripped off by Davout. The little side scams here are too involved for me to keep track of them all. Peter Lambert was teasing me about not accepting btc from someone here. I told him, I don't deal with anyone from this forum because I don't have time to keep up on who's fucking who. |
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Gleb Gamow
In memoriam
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August 22, 2014, 06:05:28 PM |
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The above is accurate. ~Bruno Kucinskas |
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QuestionAuthority
Legendary
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Activity: 2156
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You lead and I'll watch you walk away.
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August 23, 2014, 02:46:34 AM |
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The above is accurate. ~Bruno Kucinskas Why would Burt Wagner be paying you back though? |
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Hippie Tech
aka Amenstop
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Activity: 1624
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All cryptos are FIAT digital currency. Do not use.
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August 24, 2014, 12:58:04 PM |
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The above is accurate. ~Bruno Kucinskas Why would Burt Wagner be paying you back though? bump and a +1 .. |
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pummle
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Bleating sense into the world
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September 24, 2014, 08:17:39 PM |
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BurtW has been *ahem* involved in some interesting stuff. I know he was one of the big passthroughs in the Pirate@40 Ponzi. I didn't know he was involved in this though. I know Bruno was raising a stink about being ripped off by Davout. The little side scams here are too involved for me to keep track of them all. Peter Lambert was teasing me about not accepting btc from someone here. I told him, I don't deal with anyone from this forum because I don't have time to keep up on who's fucking who.
Sounds like you would benefit from a WoT. |
Trade bitcoin stocks, funds, and futures with the MPEx broker: CoinBR.comThe best place for bitcoin betting: BitBet.us |
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odolvlobo
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September 24, 2014, 09:56:06 PM |
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We need a decentralized exchange! First step? Get USD into a digital decentralized form!
The key is making the transfer of USD decentralized. Any blockchain-based currency can solve this by pegging its value to USD (or even gold or silver perhaps). That is what Realcoin does. The hard part is the pegging. In order to for there to be $1 billion worth of Realcoin (for example), the operator of Realcoin has to have $1 billion and has to be be able to redeem any amount of Realcoin at any time. It should be noted that this is exactly what e-gold did before they got shut down by the U.S., and everyone lost all their money. |
Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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DooMAD
Legendary
 Online
Activity: 3780
Merit: 3126
Leave no FUD unchallenged
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September 24, 2014, 10:45:51 PM |
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We need a decentralized exchange! First step? Get USD into a digital decentralized form!
The key is making the transfer of USD decentralized. Any blockchain-based currency can solve this by pegging its value to USD (or even gold or silver perhaps). That is what Realcoin does. The hard part is the pegging. In order to for there to be $1 billion worth of Realcoin (for example), the operator of Realcoin has to have $1 billion and has to be be able to redeem any amount of Realcoin at any time. It should be noted that this is exactly what e-gold did before they got shut down by the U.S., and everyone lost all their money. And if or when the centralised operator goes kaput, it's all worthless, hence realcoin is worthless because it's not decentralised. |
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snappa4ever
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September 25, 2014, 12:38:02 AM |
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We need a decentralized exchange! First step? Get USD into a digital decentralized form!
The key is making the transfer of USD decentralized. Any blockchain-based currency can solve this by pegging its value to USD (or even gold or silver perhaps). That is what Realcoin does. The hard part is the pegging. In order to for there to be $1 billion worth of Realcoin (for example), the operator of Realcoin has to have $1 billion and has to be be able to redeem any amount of Realcoin at any time. It should be noted that this is exactly what e-gold did before they got shut down by the U.S., and everyone lost all their money. I don't think this would ever work. This would mean that you would need to trust the operator of realcoin (essentially a central authority) which is what bitcoin was primarily created to be able to avoid. |
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Hippie Tech
aka Amenstop
Legendary
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Activity: 1624
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All cryptos are FIAT digital currency. Do not use.
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September 25, 2014, 03:09:07 AM |
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Keiser Report: Fear mongering from Scottish ‘No’ voters (E656) Max and Brock discuss bitcoin as the internet 2.0 and what the future holds for the technology.
http://youtu.be/MXJk2ZodaNw?t=12m41sI wouldn't trust either of them .. Now plz excuse me while I puke. |
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Rassah (OP)
Legendary
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Activity: 1680
Merit: 1035
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September 25, 2014, 05:18:52 AM |
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We need a decentralized exchange! First step? Get USD into a digital decentralized form!
The key is making the transfer of USD decentralized. Any blockchain-based currency can solve this by pegging its value to USD (or even gold or silver perhaps). That is what Realcoin does. The hard part is the pegging. In order to for there to be $1 billion worth of Realcoin (for example), the operator of Realcoin has to have $1 billion and has to be be able to redeem any amount of Realcoin at any time. It should be noted that this is exactly what e-gold did before they got shut down by the U.S., and everyone lost all their money. Realcoin plans to partner with a bank, and then maybe a group of banks, to do the backing. So the same dollars that you deposit into your bank account, you would then be able to withdraw as a Realcoin, with your originally deposited dollar backing it. The hope is that if a bank or group of banks do it, while following most of the same regulations they already do, they won't get shut down. |
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bitcats
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September 25, 2014, 08:39:02 AM |
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Max and Brock discuss bitcoin as the internet 2.0 and what the future holds for the technology. http://youtu.be/MXJk2ZodaNw?t=12m41sI wouldn't trust either of them .. Now plz excuse me while I puke. LOL  |
"Unser Problem ist nicht ziviler Ungehorsam, unser Problem ist ziviler Gehorsam." - Howard Zinn
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justusranvier
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September 25, 2014, 12:18:21 PM |
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The hope is that if a bank or group of banks do it, while following most of the same regulations they already do, they won't get shut down. If that's the plan, I have a hard time believing that anyone involved has done the slightest bit of due diligence regarding the regulations involved. Realcoin would most likely fit into those regulations as a stored value instrument, and I don't see how the kinds of restrictions which apply to them would be at all acceptable to the intended users of Realcoin. |
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jbreher
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lose: unfind ... loose: untight
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September 26, 2014, 04:13:13 AM |
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Realcoin plans to partner with a bank, and then maybe a group of banks, to do the backing. So the same dollars that you deposit into your bank account, you would then be able to withdraw as a Realcoin, with your originally deposited dollar backing it.
Well that would not be anything even remotely like what we understand to be cryptocurrency, now, would it? Sounds more like S&H Green Stamps, or Canada Tire Money. |
Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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colinistheman
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September 26, 2014, 06:31:56 AM |
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One time I jacked off a dog with my bare hand just to see what would happen. That's what I think of backing a coin with fiat. Another analogy: Hitting myself in the face with a hammer.  |
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bornil267645
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September 26, 2014, 06:34:44 AM |
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If people had stopped being moron than they wouldn't be people... They would've been robots...
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