Smart Contracts

[dzimbeck]

Ladies and gentlemen, let the wild wild west Smart Contracts duel begin! Votes and comments please!!!

Honestly...how can you miss bitshares?  It isn't even on the list??? at #4 on coinmarketcap----can't even make it onto the list??

Ethereum doesn't even have a blockchain yet and you have them on the list...Mastercoin is dead.  Ripple is so centralized it might as well be Goldman Sachs.  Counterparty sucks (as long as it is tied to the Bitcoin blockchain).  NXT is probably the only one up there worth it (and maybe bitHalo)...but even bitHalo could be a user-issued asset that is easily purchasable with the bitUSD, bitGLD, bitSLV...etc on the BitShares Decentralized exchange.

please fix this and look like you have a clue about the crypto landscape as it really is?

I could actually add, didn't intentionally try to leave anyone out , I just messaged Testz I wanted to hear some answers to some fundamental questions. This question should serve for anyone who'd like something added.

A.) BitShares is Smart Contracting software? I have never viewed them as so.. But I could be mistaken
B.) What type of contracts do they or can they intermediate?
C.) How do they enforce these contracts or support enforcement?
D.) Are they being used for contracting or as another means currently, such as speculation?

These are very serious questions teams should ask themselves. If a project can't satisfactorilyanswer these in a way that categorizes said project as a business or persoanl conduit then maybe it's premature or maybe it's mis-categorization. Maybe they would be better known as something else or could coin a new crypto term.. Just saying

You're not sure if bitshares has smart contracting but you call MSC and XCP smart contract platforms?

Oh lord... Either "smart contract" means any blockchain app in which case bitshares is more advanced than all but maybe NXT and ethereum, or it means "scriptable blockchain" which only ethereum has working.

I agree not all of these companies have anything that is a smart contract, just mostly proposals. Halo and Etherium are the only ones that are exactly smart contracts. (Ripples was a proposal and untested and I have yet to read up on NXT)
Scriptable blockchain is not needed to have on blockchain. Smart contracts are officially defined as "self executing". Thus Halo is superior to Etherium because it doesn't bloat the blockchain. Instead contracts are enforced with deposits and python scripts can be used to perform any type of distributed agreement or app.

In other words P2P > "Everything On the Blockchain"  since Etherium will be crippled with bloat.

Simple additions can be added to BlackHalo like checklocktimeverify. Also Halo is not a coin its cross platform. The ONLY cross platform proposal. Etherium turing complete is a buzz word. Qora has AT and its turing complete. A few minor additions to Bitcoin scripting can solve most other enhancement issues like "checklocktimeverify" and loops. Again, loops arent needed if you can do P2P without blockchain/bandwidth bloat. Even Etherium contradicted themselves when they said they would use magnet links to avoid bandwidth.

Also, Bitshares is interesting but I fail to see how they are enforcable. They have different asset tags. But there is no method of enforcing those values.

[dzimbeck]

Do any of these other projects have a white paper besides ripple's Codius?

http://files.ripoffcoin.com/whitepaper_ripoffcoin.pdf

Yeah of course. www.BitHalo.org has it. It was the first smart contracting client in the world released almost a year ago with actual working software.

[overthetop2011]

Not technically actually lol. That's a great point actually.. I messaged my friend who is a big fan and very knowledgeable on BitSHares, I asked him if should add. Id he says it qualifies or someone can give some details on an upcoming project we can add them right in!

OK   Your friends should know me from BitShares forum as well (I use same nick as here).  

PS: BitShares in, I make 1st vote for BitShares! 
PS: Thanks for adding BitShares

Great to see Bitshares on the list now.

 

[toast]

BitHalo DDE "smart contracts" are not useful. A fraudster can still profit by committed fraud because rational agents on average will still release the escrow to get their money back even if they got ripped off.

[dzimbeck]

BitHalo DDE "smart contracts" are not useful. A fraudster can still profit by committed fraud because rational agents on average will still release the escrow to get their money back even if they got ripped off.

No thats completely untrue. For that to be the case it would have to be a profitable fraud and i dont seeing that to be the case. If you want to prove it, lets go into a DDE and you try that. Im down to do a bitcoin contract with you. I will even put 2:1

Oh and Halo has a reputation system with whitelisting too.

[Zer0Sum]

I could actually add, didn't intentionally try to leave anyone out , I just messaged Testz I wanted to hear some answers to some fundamental questions. This question should serve for anyone who'd like something added.
...

Some one already answer for your questions for:
 Counter Party
 MasterCoin
 Ripple (Codius)

Where I can read about it?

I ask to add BitShares because they also have a plans to implement smart contracts as many other "coins" which listed in your list.

Not technically actually lol. That's a great point actually.. I messaged my friend who is a big fan and very knowledgeable on BitSHares, I asked him if should add. Id he says it qualifies or someone can give some details on an upcoming project we can add them right in!

Well, bitUSD volume has collapsed to effectively zero...
The whole thing has always been based on dodgy propositions not used in the Financial World...
Lot of hysteria about this in bitShares forum.

https://bitsharestalk.org/index.php?board=8.0

Tried installing BitShares client on 2 different Win 7 machines...
Neither successfully downloaded the blockchain... and the client crashed on both machines repeatedly.

The devs seem to think this is funny or something.

https://bitsharestalk.org/index.php?topic=8246.0

Also, has any actual person created a meaningful "contract" with BitHalo?
Maybe that is why BC is collapsing to all-time lows.

It's really not about "smart contracts"...
It's about a STABLE, decentralized Gen 2.0 PLATFORM with MANY useful functions.

I can think of only one that qualifies right now = NXT... and that is a big head start.

[chryspano]

I could actually add, didn't intentionally try to leave anyone out , I just messaged Testz I wanted to hear some answers to some fundamental questions. This question should serve for anyone who'd like something added.
...

Some one already answer for your questions for:
 Counter Party
 MasterCoin
 Ripple (Codius)

Where I can read about it?

I ask to add BitShares because they also have a plans to implement smart contracts as many other "coins" which listed in your list.

Not technically actually lol. That's a great point actually.. I messaged my friend who is a big fan and very knowledgeable on BitSHares, I asked him if should add. Id he says it qualifies or someone can give some details on an upcoming project we can add them right in!

Well, bitUSD volume has collapsed to effectively zero...
The whole thing has always been based on dodgy propositions not used in the Financial World...
Lot of hysteria about this in bitShares forum.

https://bitsharestalk.org/index.php?board=8.0

Tried installing BitShares client on 2 different Win 7 machines...
Neither successfully downloaded the blockchain... and the client crashed on both machines repeatedly.

The devs seem to think this is funny or something.

https://bitsharestalk.org/index.php?topic=8246.0

Also, has any actual person created a meaningful "contract" with BitHalo?
Maybe that is why BC is collapsing to all-time lows.

It's really not about "smart contracts"...
It's about a STABLE, decentralized Gen 2.0 PLATFORM with MANY useful functions.

I can think of only one that qualifies right now = NXT... and that is a big head start.

dude are you on drugs? is your brain damaged? or what?

bitUSD volume is more than 700k today
you choose the wrong day to spread your FUD

lol

http://www.bitsharesblocks.com/assets
https://coinmarketcap.com/assets/

[neo1947]

100 % bithalo

[Daedelus]

BitHalo as the developer came up with the concept.  

Hands up anyone who has heard of Nick Szabo?  

It is comments like these that made (and make, I guess) BC un-investable for me...

I remember some senior devs arguing that the multipool bought x BC every day so the price was GUARANTEED to increase by y in z days (double in 180 days I think it was, vague memory..)

Point out that x purchased will increase the price so unless x increases at the same rate as the price, you will have diminishing buying power so less effect on driving the price up after each daily pruchase. A few rounds of denial and step by step explanation and it would seem to be accepted... only to repeated 3 pages later    This happened 4-5 times, enough to say I'm out.

[DrGrid]

Obviously most of you here have not seen Ethereum's smart contract tools yet. They will outgun everything else by orders of magnitude.

[Daedelus]

Obviously most of you here have not seen Ethereum's smart contract tools yet. They will outgun everything else by orders of magnitude.

In what way will it outgun everything else? Because it is Turing Complete?

Is it still planned to have their own language to write the contracts?

[DrGrid]

In what way will it outgun everything else? Because it is Turing Complete?
Is it still planned to have their own language to write the contracts?

Yes, plus they have assembled a huge (when talking in cryptocurrency terms) multinational team dedicated to develop every aspect that a Blockchain could potentially provide. They even have their own IDE and scripter tools. The only drawback I see for it, is that everything costs a certain amount of Ether.  

[Daedelus]

It needs a fee, otherwise there is nothing to stop someone flooding the network with thousands/millions of bogus garbage transactions for free. The transactions won't get accepted but the network would still have to sort the good ones from the bad which does have a cost. Fees protect against spam


Nxt Smart Contracts is written in a language very similar to SQL, IIRC. On day one of launch, there will be thousands of people around the world who already have the skills to start building smart contracts and the market will decide which are worth pursuing. Smarts Contracts will be suitable for the vast majority use cases, but it isn't Turing Complete. In simple contracts is doesn't need to be.

For complex transactions, Nxt has Automated Transactions on testnet as we speak which is Turing Complete. It is written in machine code so can have compilers written in multiple higher level languages. The first being C (can't remember which) so again there with be very exerienced devs ready to go from day one.


I understood if you wanted to use ethereum then you needed to learn a custom language. There will be a few dozen people who know how to use ethereum on day one, if that is still the case. Nxt likely having a good few months head start and all the other features makes me feel ethereum will have a lot of ground to make up. It won't be unique when it finally launches.

[Daedelus]

Vitaliks blog on Weak Subjectivity sounds like he is describing Nxt so might not be surprised if ethereum looks like Nxt too  

[Zer0Sum]

Well, bitUSD volume has collapsed to effectively zero...
The whole thing has always been based on dodgy propositions not used in the Financial World...
Lot of hysteria about this in bitShares forum.

https://bitsharestalk.org/index.php?board=8.0

Tried installing BitShares client on 2 different Win 7 machines...
Neither successfully downloaded the blockchain... and the client crashed on both machines repeatedly.

The devs seem to think this is funny or something.

https://bitsharestalk.org/index.php?topic=8246.0

Also, has any actual person created a meaningful "contract" with BitHalo?
Maybe that is why BC is collapsing to all-time lows.

It's really not about "smart contracts"...
It's about a STABLE, decentralized Gen 2.0 PLATFORM with MANY useful functions.

I can think of only one that qualifies right now = NXT... and that is a big head start.

dude are you on drugs? is your brain damaged? or what?

bitUSD volume is more than 700k today
you choose the wrong day to spread your FUD

lol

http://www.bitsharesblocks.com/assets
https://coinmarketcap.com/assets/

Did I hear drugs? So you have some... I'd love a hit!!!

Yeah, near zero volume... $653 today.

http://www.bitsharesblocks.com/assets



Also, constant problems with client... my 3rd install...



You know, I've traded on maybe 50 platforms last 20 years... and BitShares does not impress...
The "algo" is like Communist Central Planning... the pegs will collapse under stress.
But no one will listen until it comes crashing down.

http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

[Zer0Sum]

New BTS accounts have collapsed to < 10/day... no wonder with wonky client and phantom pegs.

Money matters to people, baby.

[toast]

24 hour volume doesn't mean much if people are just waiting to be able to exit at feed price because there aren't any shorts closing today. A few days ago it was over half a million dollars volume. Yes, if there was more liquidity you could have continuous exit opportunities. Yes, if there was more liquidity you would see tighter pegs on the external exchanges. But the mechanic works, I can exit bitUSD at $1 worth of BTS. It has been tracking without any coordinated market-making efforts.

Honestly 10 signups/day is a miracle given how shitty the GUI is. It's not a mature product, that's for sure.

[ShetKid]

I go with bitshares

[neo1947]

Bitshares is a scam,an other snapshot? how easy to scam ppl with this snapshots  trend ,http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

[yourstruly]

Blackwave Labs is also building a geo-local wallet with smart contracts, but ours will be usable by any Bitcoin based coin. In my opinion any smart contracts solution that requires its own blockchain should be looked at suspiciously as a possible way to P&D considering it could be done without major changes to the existing established protocols.