[ANN] [SWIFT] BitSwift |https://bitcointalk.org/index.php?topic=922982.msg101316

[EfterlysT]

WTH  just happened on BTER    buy wall  GONE   someone sold at 0.000001   REALLY!!?

Someone must have fucked up really bad playing with the numbers or something.

[BitSwift]

Hello Community, this is the BitSwift Dev team!

We will be hosting REGULAR Monday evening / night Q&A -  we want to involve the community in this project as much as possible.

Questions anyone?


Thank you,

-BitSwift

[jcooper]

Hello Community, this is the BitSwift Dev team!

We will be hosting REGULAR Monday evening / night Q&A -  we want to involve the community in this project as much as possible.

Questions anyone?

When will you release a whitepaper with technical details?

You say "transfers take place almost instantly." Can quantify "almost instantly," i.e., how many milliseconds/seconds/whatever would typically be required for a transfer to be completed and confirmed?

Can you explain "Swift Exist Identity Binding"?  The roadmap says:

swiftEXIST allows binding of documents to digital identities or digital objects on the bitswift network. In combination with swiftID and swiftREP this is a very powerful tool. One example: register a swiftID for your car, utilize swiftEXIST to insert the car ownership to the chain. Bind the ownership document to the Identity of the car, which is then bound to your registered swiftID. Your swiftID is bound to your physical self using proof of document. The bitswift network now validates your ownership.

So suppose I register a swiftID for my car, use swiftEXIST to do whatever the rest of those steps mean. The bitswift network now validates my ownership. Then (in the real world) I put an ad on craigslist, someone comes over and gives me a thousand bucks and I sign the title over to them. The bitswift network isn't modified by this real-world transaction, so the bitswift network is still validating my ownership, even though in the real world I no longer own the car.

Can you explain how this is supposed to work?

[BitSwift]

Hello Community, this is the BitSwift Dev team!

We will be hosting REGULAR Monday evening / night Q&A -  we want to involve the community in this project as much as possible.

Questions anyone?

When will you release a whitepaper with technical details?

You say "transfers take place almost instantly." Can quantify "almost instantly," i.e., how many milliseconds/seconds/whatever would typically be required for a transfer to be completed and confirmed?

A:  If someone sends SWIFT to you they will appear as received within seconds.  The time can vary depending on network connectivity speed and various other issues.  The confirmation time is 30 seconds (on average).  

Can you explain "Swift Exist Identity Binding"?  The roadmap says:

swiftEXIST allows binding of documents to digital identities or digital objects on the bitswift network. In combination with swiftID and swiftREP this is a very powerful tool. One example: register a swiftID for your car, utilize swiftEXIST to insert the car ownership to the chain. Bind the ownership document to the Identity of the car, which is then bound to your registered swiftID. Your swiftID is bound to your physical self using proof of document. The bitswift network now validates your ownership.

So suppose I register a swiftID for my car, use swiftEXIST to do whatever the rest of those steps mean. The bitswift network now validates my ownership. Then (in the real world) I put an ad on craigslist, someone comes over and gives me a thousand bucks and I sign the title over to them. The bitswift network isn't modified by this real-world transaction, so the bitswift network is still validating my ownership, even though in the real world I no longer own the car.

A:  SwiftEXIST is used to declare ownership and record that ownership in the history of events.  The blockchain allows to record events and keep the history and proof of those events.  If the car was sold later on in the future to a new owner the network would not know otherwise.  The network would only know that on a specific date in the past, you owned the car.  Unless of course, the network gave enough incentive for the new owner to join the network and transfer the ownership from you and bind it to their SwiftID.  Or perhaps if the network gave enough incentive to use its internal SwiftSales, the car could be sold directly on the network.  When the sale is final the ownership would be transferred internally to the new owner.
Can you explain how this is supposed to work?

[jcooper]

You say "transfers take place almost instantly." Can quantify "almost instantly," i.e., how many milliseconds/seconds/whatever would typically be required for a transfer to be completed and confirmed?

A:  If someone sends SWIFT to you they will appear as received within seconds.  The time can vary depending on network connectivity speed and various other issues.  The confirmation time is 30 seconds (on average).  

Somewhere else in this thread it says "with only 10 confirmations before coins are usable." So 30 seconds is ten confirmations, meaning the block time is 3 seconds?

So suppose I register a swiftID for my car, use swiftEXIST to do whatever the rest of those steps mean. The bitswift network now validates my ownership. Then (in the real world) I put an ad on craigslist, someone comes over and gives me a thousand bucks and I sign the title over to them. The bitswift network isn't modified by this real-world transaction, so the bitswift network is still validating my ownership, even though in the real world I no longer own the car.

A:  SwiftEXIST is used to declare ownership and record that ownership in the history of events.  The blockchain allows to record events and keep the history and proof of those events.  If the car was sold later on in the future to a new owner the network would not know otherwise.  The network would only know that on a specific date in the past, you owned the car.  Unless of course, the network gave enough incentive for the new owner to join the network and transfer the ownership from you and bind it to their SwiftID.  Or perhaps if the network gave enough incentive to use its internal SwiftSales, the car could be sold directly on the network.  When the sale is final the ownership would be transferred internally to the new owner.

I don't follow that at all, sorry. With cars the actual, legal ownership is reflected in the title. There's no link between the blockchain and the physical car, the physical documents, and the registration of the title at the DMV.

And if the blockchain only records that someone owned that car at some point in history (if that were even possible), how is it useful in selling the car? If I'm buying a car from you I don't care whether you owned it at some point in history, I care about whether it's legally yours now so that it's your to sell. And then if I give you money for it I don't care about entries on a blockchain, I care about the legal title. 

Is there going to be a whitepaper with technical details at some point?

[BudFox]

ok so finaly i made an account here
great coin great dev team, this is my first crypto so im glad to be here guys.
good luck
thanx

[BitSwift]

You say "transfers take place almost instantly." Can quantify "almost instantly," i.e., how many milliseconds/seconds/whatever would typically be required for a transfer to be completed and confirmed?

A:  If someone sends SWIFT to you they will appear as received within seconds.  The time can vary depending on network connectivity speed and various other issues.  The confirmation time is 30 seconds (on average).  

Somewhere else in this thread it says "with only 10 confirmations before coins are usable." So 30 seconds is ten confirmations, meaning the block time is 3 seconds?

So suppose I register a swiftID for my car, use swiftEXIST to do whatever the rest of those steps mean. The bitswift network now validates my ownership. Then (in the real world) I put an ad on craigslist, someone comes over and gives me a thousand bucks and I sign the title over to them. The bitswift network isn't modified by this real-world transaction, so the bitswift network is still validating my ownership, even though in the real world I no longer own the car.

A:  SwiftEXIST is used to declare ownership and record that ownership in the history of events.  The blockchain allows to record events and keep the history and proof of those events.  If the car was sold later on in the future to a new owner the network would not know otherwise.  The network would only know that on a specific date in the past, you owned the car.  Unless of course, the network gave enough incentive for the new owner to join the network and transfer the ownership from you and bind it to their SwiftID.  Or perhaps if the network gave enough incentive to use its internal SwiftSales, the car could be sold directly on the network.  When the sale is final the ownership would be transferred internally to the new owner.

I don't follow that at all, sorry. With cars the actual, legal ownership is reflected in the title. There's no link between the blockchain and the physical car, the physical documents, and the registration of the title at the DMV.

And if the blockchain only records that someone owned that car at some point in history (if that were even possible), how is it useful in selling the car? If I'm buying a car from you I don't care whether you owned it at some point in history, I care about whether it's legally yours now so that it's your to sell. And then if I give you money for it I don't care about entries on a blockchain, I care about the legal title. 

Is there going to be a whitepaper with technical details at some point?

Yes we will provide more in depth technical papers on all of our modules.   Please take a look here to see how proof of existence works:http://www.coindesk.com/how-block-chain-technology-is-working-to-transform-intellectual-property/

You may be stuck in a loop trying to bind an old system to a new one.  The horse did not turn into a car.  The car replaced the horse.  

-BitSwift

[BitSwift]

ok so finaly i made an account here
great coin great dev team, this is my first crypto so im glad to be here guys.
good luck
thanx

Welcome to the community!

-BitSwift

[BudFox]

ok so finaly i made an account here
great coin great dev team, this is my first crypto so im glad to be here guys.
good luck
thanx

Welcome to the community!

-BitSwift

thank you very much glad to be here

[jcooper]

Please take a look here to see how proof of existence works:http://www.coindesk.com/how-block-chain-technology-is-working-to-transform-intellectual-property/

You may be stuck in a loop trying to bind an old system to a new one.  The horse did not turn into a car.  The car replaced the horse.  

You're the ones with the claims about the new system (blockchain) being used to represent something that is "old system" namely the legal ownership of automobiles. The ability to prove that a digital document existed at some point in time (as described in the link there) doesn't do anything of the sort.

[sgm3lvin]

the prices have dropped steeply 

[mikerutch]

yep, looks like this coin is done.....on to the next

[dan7777777]

the prices have dropped steeply 

What happened?

[Revelation]

Thank you to the guys that sold me 3 btc worth of SWIFT at 20000 satoshis

hahaha my BTC took ages to hit me:)
but i got 3BTC also @ 24k average

40k within 12hours:)

You guys have to stop doing this kind of pump. Smart investing is not about pumping. Did you manage to close your position before going into red?

[sust1200]

its called Price manipulation!, and its low cause they want more coins!, so the best time for you to get in is RIGHT NOW!, enjoy while it lasts

[burner2014]

First coin which deletes my posts.

I am out when we recovered.

Thats a big laugh when you don't accept some criticism !

It was not against the Coin and its features it was about BOB and his newbie accounts hyping this one.

[sgm3lvin]

its called Price manipulation!, and its low cause they want more coins!, so the best time for you to get in is RIGHT NOW!, enjoy while it lasts

oO.. u sound too enthusiastic

[ifightformerkel]

delivered the dev anything until yet from his plans /roadmaps, or not?

because this coin exist now about 4 weeks.
and i see only new roadmaps and new plans.

[rifsta]

delivered the dev anything until yet from his plans /roadmaps, or not?

because this coin exist now about 4 weeks.
and i see only new roadmaps and new plans.

might want to review your english 

[MR1]

Hi Swift community!

Are you ready for tomorrow? From tomorrow on we are together on Blocknet.

Our strength is in our unity!

Kind regards from Stealth Coin community