[ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure

[synechist]

- We're paying developers with them. This doesn't require selling them, it just requires paying developers with them. <---doesn't say the dev's are not dumping!

I think we're using a different definition of the term "dumping".

It's an emotive term generally used to describe selling a large amount - at the very least enough to depress the price.

Individual devs selling coins will not do that. They'd just "sell", not "dump".

Or they'd just *use* their coins through the Blocknet to pay for stuff. No dumping there under any definition.

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[georgeblair]

I mentioned the blocknet as a proposed alternative to "pegged sidechains" for bitcoin on a reddit thread.

http://www.reddit.com/r/Bitcoin/comments/2k070h/enabling_blockchain_innovations_with_pegged

A criticism offered was that a full node and miners would have to keep track of every single blockchain. How will each node on different blockchains "keep up" with other blockchains?


Thanks, very excited about the potential of this!

[synechist]

I mentioned the blocknet as a proposed alternative to "pegged sidechains" for bitcoin on a reddit thread.

http://www.reddit.com/r/Bitcoin/comments/2k070h/enabling_blockchain_innovations_with_pegged

A criticism offered was that a full node and miners would have to keep track of every single blockchain. How will each node on different blockchains "keep up" with other blockchains?


Thanks, very excited about the potential of this!

Thanks. Interesting perspective.

Miners aren't necessary in a PoS blockchain.

As for the matter of having to keep track of every single blockchain, that's not really true.
- the issue is that you'd need a way to tell that the other party has paid you, and vice versa
- since you're not on the other chain, you can't tell whether the other party has paid.
- so a decentralised exchange service could, say, set up an atomic group_sig (m-of-m) transaction between buyer and seller, and the two payments would happen as one indivisible contract.
- the chain that the exchange is built on would record this (this chain need not even be the chain of one of the coins in the tx)
- and your wallet would track this chain.

Done (hypothetically. I'm just riffing here; haven't heard from the devs yet).

[ASICHEAD]

CoinGateway will handle the majority of coins.

So does this mean if we buy blocknet with XC on coingateway, that coingateway then DUMPS the XC into the market and the XC price crashes??

How is the XC exchange rate calculated??

No.

The Blocknet Foundation keeps the coins to fund development.

No coins are dumped. This is in the FAQ under the OP.

why currently XC and other coins of Blocknet were dump?
Is it not  to get more BTC in ITO?
I think it is

[IMJim]

Synechist.......I don't know how in the hell you are keeping up with all this man!  I struggled to stay updated on the XC thread alone, now these multiple threads.....I just can't keep up with reading them:-)

[Conurtrol]

Synechist.......I don't know how in the hell you are keeping up with all this man!  I struggled to stay updated on the XC thread alone, now these multiple threads.....I just can't keep up with reading them:-)

+1. Yeoman's work

[synechist]

Synechist.......I don't know how in the hell you are keeping up with all this man!  I struggled to stay updated on the XC thread alone, now these multiple threads.....I just can't keep up with reading them:-)

+1. Yeoman's work

Minimal sleep. Personal neglect. Alas.

[MiningMinion]

Synechist.......I don't know how in the hell you are keeping up with all this man!  I struggled to stay updated on the XC thread alone, now these multiple threads.....I just can't keep up with reading them:-)

+1. Yeoman's work

Minimal sleep. Personal neglect. Alas.

Nonetheless, great job on staying on top of everything!

[IMJim]

Synechist.......I don't know how in the hell you are keeping up with all this man!  I struggled to stay updated on the XC thread alone, now these multiple threads.....I just can't keep up with reading them:-)

+1. Yeoman's work

Minimal sleep. Personal neglect. Alas.

Haha, me too and I still can't keep up lol:-)

[zrunfeng]

good,i will in

[WhiteNotWright]

Sir Synechist,

Charlie Shrem is saying ALT coins are dead with the new whitepaper on Sidechains. Care to respond to his comments on twitter? If ALT are dead, will the Blocknet host the Sidechains or the other way around

[Come-In-Behind]

Sir Synechist,

Charlie Shrem is saying ALT coins are dead with the new whitepaper on Sidechains. Care to respond to his comments on twitter? If ALT are dead, will the Blocknet host the Sidechains or the other way around

Charlie Shrem was convicted of unlicensed transactions as well as using bitcoin to trade Drugs on silkroad. He's in the same field as Bob Pierce, the alleged child molester. Those former(shrem) and current(pierce) members of the bitcoinfoundation are the last people on earth to listen to.

[Conurtrol]

Sir Synechist,

Charlie Shrem is saying ALT coins are dead with the new whitepaper on Sidechains. Care to respond to his comments on twitter? If ALT are dead, will the Blocknet host the Sidechains or the other way around

They are going to clone all the innovative alts and make sidechains based on them. The monopoly power of bitcoin will be used to push adoption of these clones and destroy the originals. So they will not only be stealing innovation and destroying equity, their plan will also have a chilling effect on future innovation in this space. Why would a brilliant person develop a new coin only to have it stolen by the monopoly? A sane alternative would be the blocknet, where everyone is free to innovate and compete, but try telling that to bitcoiners.

[LAHAINA]

Looking Forward To The BlockNet 'Build-Out' . . .

I mentioned the blocknet as a proposed alternative to "pegged sidechains" for bitcoin on a reddit thread.

http://www.reddit.com/r/Bitcoin/comments/2k070h/enabling_blockchain_innovations_with_pegged

A criticism offered was that a full node and miners would have to keep track of every single blockchain. How will each node on different blockchains "keep up" with other blockchains?


Thanks, very excited about the potential of this!

Thanks. Interesting perspective.

Miners aren't necessary in a PoS blockchain.

As for the matter of having to keep track of every single blockchain, that's not really true.
- the issue is that you'd need a way to tell that the other party has paid you, and vice versa
- since you're not on the other chain, you can't tell whether the other party has paid.
- so a decentralised exchange service could, say, set up an atomic group_sig (m-of-m) transaction between buyer and seller, and the two payments would happen as one indivisible contract.
- the chain that the exchange is built on would record this (this chain need not even be the chain of one of the coins in the tx)
- and your wallet would track this chain.

Done (hypothetically. I'm just riffing here; haven't heard from the devs yet).

They are going to clone all the innovative alts and make sidechains based on them. The monopoly power of bitcoin will be used to push adoption of these clones and destroy the originals. So they will not only be stealing innovation and destroying equity, their plan will also have a chilling effect on future innovation in this space. Why would a brilliant person develop a new coin only to have it stolen by the monopoly? A sane alternative would be the blocknet, where everyone is free to innovate and compete, but try telling that to bitcoiners.

Interesting Read, Great Dialogue . . .
 

[zrunfeng]

all are picture,no word

[Come-In-Behind]

Sir Synechist,

Charlie Shrem is saying ALT coins are dead with the new whitepaper on Sidechains. Care to respond to his comments on twitter? If ALT are dead, will the Blocknet host the Sidechains or the other way around

They are going to clone all the innovative alts and make sidechains based on them. The monopoly power of bitcoin will be used to push adoption of these clones and destroy the originals. So they will not only be stealing innovation and destroying equity, their plan will also have a chilling effect on future innovation in this space. Why would a brilliant person develop a new coin only to have it stolen by the monopoly? A sane alternative would be the blocknet, where everyone is free to innovate and compete, but try telling that to bitcoiners.

That...That actually makes sense. If Bitcoin sidechains do happen, then there would be no incentive for further innovation to happen in the cryptocurrency world. Blocknet would probably be the solution to that, a way out of the Bitcoin monopoly.

[CohibAA]

I think sidechains are a potentially brilliant evolution of bitcoin, and, in turn, altcoin devs will have to evolve to work their ideas in a sidechain, or find an even better case and application for their altcoins.  

Of course, it could go either way.  The sidechain coding could just fail, I believe it is more concept than anything at this point.  If it succeeds, it may be rejected by a majority of the mining community or devs when that debate resolves, which would effectively kill it.  

In any case, I hope sidechains do become a reality at some point, as much as I've enjoyed the altcoin ride.

edit: I found this article interesting regarding sidechains, for those interested, although it is from april.

The debating is starting to heat up:
http://insidebitcoins.com/news/blockstream-releases-highly-anticipated-sidechains-white-paper/25623

[AltCoinBuddah]

Sir Synechist,

Charlie Shrem is saying ALT coins are dead with the new whitepaper on Sidechains. Care to respond to his comments on twitter? If ALT are dead, will the Blocknet host the Sidechains or the other way around

They are going to clone all the innovative alts and make sidechains based on them. The monopoly power of bitcoin will be used to push adoption of these clones and destroy the originals. So they will not only be stealing innovation and destroying equity, their plan will also have a chilling effect on future innovation in this space. Why would a brilliant person develop a new coin only to have it stolen by the monopoly? A sane alternative would be the blocknet, where everyone is free to innovate and compete, but try telling that to bitcoiners.

That...That actually makes sense. If Bitcoin sidechains do happen, then there would be no incentive for further innovation to happen in the cryptocurrency world. Blocknet would probably be the solution to that, a way out of the Bitcoin monopoly.

If Bitcoin was added to the blocknet it would gain all those features without risk to its self. It would be epic!

[BTC-Ninja]

If Bitcoin was added to the blocknet it would gain all those features without risk to its self. It would be epic!

This would be epic!

[Everething]

Can anyone point me in the direction of the rules regarding buying the blocknet tokens with a currency like XC.  I'm thinking what's the deal with purchasing them if you can purchase them with multiple currencies?

Thanks for any help