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Topics - Lighthouse

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MemoryCoin / What are you trying to accomplish and how is it going?
« on: December 26, 2013, 01:30:30 pm »
In theory, I am an owner of Memorycoin.  I don't get it, why do I want to own this?  It has the advantages of bitcoin except it hemorrhages money with a portion of each block going to some random person who pitched their services and if selected is constantly being paid an unreasonably high salary if this currency winds up being anything valuable with no actual controls in place to make sure they're doing anything productive with their time besides being able to put on a dog and pony show for memorycoin holders.

What am I missing?

MemoryCoin / "Error Opening Block Database"
« on: December 26, 2013, 04:10:41 am »
when I start the latest version of memorycoin, it pops this error message

"Error opening block database.
Do you want to rebuild the block database now?"
with the option OK or Abort

When I click OK, it opens a new window that says "error opening block database" and crashes

I'm running Bitcoin QT, what gives?  Same thing happened with the original Memorycoin client.  Running windows 7

Ok, so there's been a conversation going on about how to fund the creation of future DACs as there are far more opportunities than funds.  I believe the proposal put forward by Bytemaster to have 100% of Bitshares represented by angelshares and protoshares is a non-starter because it means that all coins that will potentially be created will be owned only by people able to contribute in Bitcoin, when the perception of PTS currently (as a "CPU MINABLE COIN" is that you don't need to do that.   I believe even if the vast majority of mining being performed by participants on the network is done by botnets or cloud miners, the initial marketing of Protoshares makes it untenable to change the social contract in any way that is not optional on a investor by investor basis.

With that in mind, I think we all recognize the value of having sufficient funds devoted to the creation of DACs and I for one have no problem putting my money where my mouth is. 

I would encourage the creation of PTS 2.0 (Angelcoins) that would be another 10% of Bitshares's 21 million, so 20% of total Bitshares would be claimed at the beginning through these two rounds of "venture".

Instead of the validated mining plan that turns Invictus into a central point of failure, Invictus should set up weekly or monthly "Exodus Addresses" and replicate Mastercoin, people send BTC or PTS to "Angel" addresses and at the end of that round whatever the allocation is, is divided evenly between the people who sent value on a proportional basis.   These funds should be clearly labeled with regard to how each % will be spent.

The exodus address would be transparent, so if people see that not many have invested they will want to invest becaues they will get more value for their value.   Invictus controls the address, but each distribution basically results in a large block that issues shares to all investors in the last round.   If I were you I would accept both Bitcoin and PTS in these angel rounds, and accept PTS at a premium to Bitcoin.

2.1 million would be  21 months @ 100k Angelcoins per month - The deal stays the same with Protosharesholders, you get to raise a shitload of money to finance multiple DACs at once and try your new mechanism.  The miners still working on PTS get to keep working, and you don't have to do anything.

Most importantly, Invictus hasn't committed to what they'll do with the other 80%, so when they really solve the problem and have the RIGHT idea their won't have tied yourself down.

What do you think?

General Discussion / We've Arrived! David Brin Thinks We're Utopians!
« on: December 07, 2013, 04:22:58 pm »
From the author of The Postman, esteemed Kevin Costner film

== Will online distributed “robot” corporations dominate the economy? ==

Distributed-Autonomous-CorporationsIn fact, Bitcoin is only the best-known and most widely used example of a wider class of system. So let me link you now to a very interesting… and perhaps necessary… reading for those who would like to have a Big Picture look at the new ecosystem of autonomous networked entities online.

These Distributed Autonomous Corporations – as named by Stan Larimer of Invictus Innovations — dwell in the separate computers of thousands of individuals and groups who independently decide to run — or update — host software for the system, allowing it to “live.”  Like stockholders in a company, or customers, they thus vote for it to exist, by using it and providing it with an array of distributed homes.

The rapid evolution of these DACs cause Larimer to opine that we appear to be heading toward a realm that automatically and organically invokes Isaac Asimov. That this is the way robots have truly arrived.  And they need laws. And “nature” will be pretty much compelled to provide them.

Larimer foresees independent software-residing and internet spanning entities that are “corporate” in that they have a semblance of motivation and life, they thrive when they attract customers based on high reputation, and they defend their existence.  Unlike standard corporations, however, a healthy DAC soon becomes independent of human control EXCEPT the market need to keep attracting and satisfying customers. No other human parameter can interfere, he claims.

Bitcoin-RoboticsIn “Bitcoin and the Three Laws of Robotics,” Larimer attempts to show how a set of Generally Stable Attractor States (my terminology here), will make it likely for these DAC’s to stay autonomous and healthy in a market ecosystem that naturally and organically tends toward synergies similar to the renowned Asimovian laws (that I channeled and dissected in my novel, FOUNDATION’S TRIUMPH).

Accelerando_(book_cover)Indeed, Charles Stross’ Accelerando, popularises this concept of autonomous economic legal entities, demonstrating in accessible ways this concept as one logical set of ends.

On the other hand, this market-home model of distributed markets that are out of human supervision has a scary side, since there may be a critical mass of humans willing to provide networked home bases for any kind of activity, including bazaars for evil, like hiring assassins. Indeed, the last vestige of human control… customers and members setting up virtual homes in distributed computers… may seem quaint when we approach the cloud-like cyber world forecast by William Gibson and Vernor Vinge, way back in the 1980s.

Without any doubt, Larimer’s incantation and prediction is fascinating, even persuasive…

… until we recall that it is still an incantation and a polemic. A just-so story, like countless we have been told about markets, like Supply Side “economics,” that just ain’t necessarily so.

Me? I think parallels for these new software  forms are found in biology, all right.  But not in the leap from single cell to multi-cellular life. The true fundamentals span all of that, going back to life’s very beginning — predation, parasitism and so on.

Life, for most of its eras, never saw a lick of cooperation or genuine, deal-making quid pro quo, but rather ferocity, voracity and ruthless taking-advantage. These basic drives and successful methods have a billion years more precedent than the much more recent — and demonstrably unstable — regime of human-made markets, corporations and libertarian conceptions of fair exchange.

Khan-BitcoinShow me the benign “market” of voluntarily-exchanged goods and services that evolved organically in the Cambrian! Or Devonian, or Permian, or Cretaceous. It might have happened on other worlds! It might have happened here – letting animal species trade in positive sum games – that is, it might have, had the market state of quid-pro-quo been as automatically compelling in the real world as Mr. Larimer implies, in breathless enthusiasm. Just as Karl Marx and Murray Rothbard and other transcendentalist logicians urged us to believe in their if-therefor incantations.

But biology did not spontaneously evolve or create quid-pro-quo markets. Although there certainly have been symbiotic relationships — e.g. between plants and pollinators — these arose amid death and exploitation and almost never involved the kinds of knowing reciprocity that Larimer describes as happening automatically with his beloved DACs.

Elsewhere I describe how close we may be to quasi intelligent information systems that grow spontaneously and unsupervised, bursting onto the scene of artificial intelligence from a wholly unexpected direction… programmed with exactly this age-old voracity, with parasitism lying at its newborn heart. A scenario motivated by short-sighted, human greed and one that we allow to play out, at our great peril.

Pain, exploitation and death were the attractor states for a billion years.  Mr. Larimer and other cyber transcendentalists ought to bear it in mind.

Keyhotee / Is there a Keyhotee Timeline or Development Blog?
« on: December 03, 2013, 05:33:56 am »
There should be, I have no idea where we are in the development cycle beyond late.

Meta / Project Development board
« on: November 23, 2013, 09:11:18 pm »
Should we have one?  If we did, I would post a project in it :)

General Discussion / Should Mining scale per Human or per Dollar?
« on: November 23, 2013, 05:31:33 pm »
I think a core question is, do we want mining to be human scalable or capital scalable.

Current coins including protoshares are capital scalable, you can mine as much as you can spend money.   By requiring individual registration, or human-required interrupts like a rotating captcha you make it non-economical to run 3,000 servers if each server has an average 5 interrupts randomly per day.  Doesn't matter if it's a cloud miner, doesn't matter if it's botnet, the human element does not scale like the hardware does.

To a certain extent this makes the guy with 40 computers in his garage the hardest working and best paid, requiring constant attention (5 interrupts x 40 divided by 24 hours in the day means an interrupt every 8.3 minutes).

I actually don't hate the idea of random interrupts, it incentivizes people run it on the computer they are actively working on because otherwise they'll be periodically checking at best or waiting for an email alert.  One imagines a new suite of tools will emerge to try and automate this, and that becomes the arms race improving captchas.

BitShares PTS / Sovryn Tech Ep. 0048: “Keep One-eye On the ProtoShares”
« on: November 17, 2013, 10:10:16 pm »
Listening to it now

You can tip them protoshares here, I sent 2 - Donating to podcasts like this makes them more likely to talk about it, and I want everybody to know about Protoshares.
PROTOSHARES: PtTy4odKrFq6afXyU3459kNetonztAu6Lk

BOUNTY – Adapt Open Source Armory Wallet to support Altcoin Protoshares

Lighthouse – Posted by Lighthouse – Anywhere   

Job Description

Protoshares is a new bitcoin derived cryptocurrency from Invictus Innovations. It is unique among cryptocurrency because there is a private company who has put a social contract in place that when it releases the products on its roadmap (Bitshares, Domainshares, etc.), whomever holds Protoshares (PTS) will be given shares of the newly released product at a 1:1 ratio to their PTS holdings.

This means that instead of being a currency that trades on the merits of the currency or its network, it trades on the future value of the products that Invictus will deliver to whomever holds them. It is unique among coins in that it has a tangible reason to hold it, periodic and significant payouts of new cryptocurrency.

This unique value proposition and the fact that only 2 million will be mined has led to a very high price even only 12 days after the start of mining, and the adapted BitcoinQT client is insufficient for the task of securely storing. I have started a bounty which has a minimum value of 5BTC or 100PTS, and which might wind up being higher than that if I can convince some larger holders of PTS to contribute.

The most secure bitcoin wallet is, it is open source and supposedly not that difficult to convert to a bitcoin based altcoin. Protoshares at a technical level is the latest version of Bitcoin with a new proof of work and modified difficulty/block reward settings.
Invictus Innovations –
You can learn more at

Armory Github:

The Version of Armory you should convert:

Compensation Amount/Rate (in Bitcoin): 5
How to Apply
email [email protected] or post in this thread

Job Categories: Bitcoin. Job Types: One-Time. Job Tags: altcoin, Bitcoin, invictus, and protoshare. Salary: ฿1 - ฿10. Job expires in 30 days.

Contributors to the Bounty:

Lighthouse - 100PTS
Bytemaster  - 50PTS
onceuponatime - 13PTS

Whomever fills it will be expected to stick around long enough to bug-fix any obvious things that pop up.

Marketplace / [SOLD] 1450PTS @ .011-.012 - Buy from a Trusted Trader
« on: November 15, 2013, 06:03:50 pm »
Hi all,
Need to sell 1000PTS in the next three hours, I have been here since day 2 and have over 100 trades so you send first.

Price is variable depending on how many you take, for once I actually need to sell all of these so bulk orders get lower prices.  Usually with PTS thats the other way around.

Orders over 50% of my remaining inventory are available at .011, smaller orders at .012


1) All chains Invictus launches will be derived from PTS with a 1:1 mapping and 10% of the ultimate money supply of that chain.
2) ProtoDomains may Split from ProtoShares prior to the Launch of DomainShares so that it can be traded and valued separately.   
3) Keyhotee ID is not a currency, there is no way to map ProtoShares into Keyhotee ID (the name chain)
4) There will be many BitShares based chains, not one, and all of them will be 1:1 with ProtoShares
5) We reserve the right to release ProtoShares v2 that honors 100% of ProtoShares v1 with 100% of the money supply allocated. 
6) Associated Press, DAC would honor PTS

Exceptions to the PTS honoring would be if we decided to release a true competitor to be used as a money-only coin and not a trading platform.  In this case we may choose to honor the initial positions in ALL existing *-coin chains proportional to their market cap. 

I want to make it very clear that at no time will we 'reset the clock' for a new chain and owning ProtoShares today does get you ownership in everything we do in the future either directly or indirectly.

I wonder what would have happened if they hadn't made the change and mining was done in three or four weeks.  Seems like that might be better given the purpose of the project is to give shares of invictus innovations future products to people starting on January 1st.

Protoshares that are mined after january first will be much less valuable unless they're basically bundled with a protoshare - Can someone from Invictus explain how this will work?  If it's a fork it seems like once the issuance date passes these will have missed the boat. 

Maybe it would be better to instead do a 2 month mining frenzy then wait 1 month of hot-potato trading as people speculate on the value of what the Protoshare will deliver to them (Bitshares), then whoever is holding the PTS gets a bitshare, and the protocoins start trading based on speculation of the value of the next project to be forked from it.

I also think it might be better for IPOcoins like this to simply have 10% of the mining reward go to the company being funded.  90% reward is plenty to incentivize miners and then you don't have to have this nutty drop everything to mine strategy that saw bytemaster run himself on no sleep and lose funds because it was bugged alpha code.   If this were just an altcoin and you were just developing this altcoin that would be very unpopular but given the point of this coin (to raise funds and support the development of blockchain-products) I think 10% is very modest and would better align the developers motives with doing the best for the community instead of scrambling to grab everything they can or else lose out on their own creation.

What say you?

BitShares PTS / We need a Protoshares Explainer Video
« on: November 11, 2013, 03:33:50 am »
No offense to Bytemaster, but Bitshares doesn't need to be explained so much as Protoshares needs to be explained.  Since protoshares gives you shares of everything else Invictus Innovations creates, it's a totally different animal than any other cryptocurrency out there.  This could be explained very simply in maybe a 90 second video.

I was thinking we could crowdsource the script, I'm willing to work on it and have some experience in that area.

Thoughts? Ideas? 

Hey sellers,
I'm looking for up to 10,000 PTS and I'm willing to pay the market high price of .0055

Unlike other high-compared-to-the-market offers to buy, I'm a highly trusted member of the community so no counter-party concern.

Looking forward to trading with you.

BitShares PTS / Bytemaster Protoshares Interview on Let's Talk Bitcoin 57
« on: November 09, 2013, 09:09:59 am »

Shownotes from the episode:
Shownotes for Episode 57 – Protoshares & Selfish Mining

Daniel Larimer is the driving force behind Project Keyhotee, Bitshares futures markets and the Protoshares decentralized, CPU minable currency that he hopes will power it all. Our talk on episode 44 (Mindtomatter – E44-ive-seen-better-days-lets) about Project Keyhotee, the secure Identity/Money/Communications platform was one of the most popular we’ve ever run, and I caught up with Daniel a few days ago about what happens next.

Then, you might have heard it. Bitcoin is broken, and selfish mining (…itcoin-network/) is to blame. Hair-on-fire headlines aside, Andreas’s got a bee in his bonnet on this one, and we not only break down the problem but get a great example of how the core Dev team has fewer, but better options for dealing with things like this than your standard currency. Stephanie, Andreas and I really dig into this one and there’s meat on those bones.

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