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General Discussion / Re: Questions for Mastercoin / Ethereum / BitShares Panel
« on: January 28, 2014, 09:31:01 pm »
Will a video/summary of the panel be released?
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Coinjoin is an interesting concept, we are taking a slightly different approach: Coin-Never-Join. If 95% of all transfers have a single input and single output and no address is ever reused then you get the same effect. After many such transactions performing a single join of two of your addresses to combine 'dust' doesn't actually convey much meaning that can be tracked.
Transactions-as-POS is good against secret attack chains, but falls apart against public attacks for the exact same reason as PPCoin-style POS - recipients of transactions want to see a version of the transaction for each version of the blockchain so that they can be sure they won't be double-spent during a reorg, and so people making transactions have an incentive to make a version of the transaction for each version of the blockchain (ie. double mining) to satisfy the recipients. Transactions-as-POS plus Slasher-style punishment solves the problem, but then introduces too many opportunities to send people money and then destroy that money and get a portion back immediately after the fact.
Other Comments: This paper shamefully ignores Momentum as a memory hard POW.
Maybe he thinks you still work at Let's Talk Bitcoin
"As Let’s Talk Bitcoin’s Daniel Larmier pointed out in his own exploration on this concept, in a sense Bitcoin itself can be thought of as a very early prototype of exactly such a thing."
http://blog.ethereum.org/?p=10/bootstrapping-a-decentralized-autonomous-corporation-part-i
ive gone ahead with secp256r1 32, the library is now in the src folder, it has these functions of interest
int ecc_make_key(
uint8_t p_publicKey[ECC_BYTES+1],
uint8_t p_privateKey[ECC_BYTES]
);
that creates a public/private key pair
int ecdsa_sign(
const uint8_t p_privateKey[ECC_BYTES],
const uint8_t p_hash[ECC_BYTES],
uint8_t p_signature[ECC_BYTES*2]
);
Generates an ECDSA signature for a given hash value.
int ecdsa_verify(
const uint8_t p_publicKey[ECC_BYTES+1],
const uint8_t p_hash[ECC_BYTES],
const uint8_t p_signature[ECC_BYTES*2]
);
Verifies an ECDSA signature.
credit goes to kmackay for this.
if anyone has an idea how to replace the nonce as required, just fork this repository https://github.com/Nameshar/Divsshares
and get to it. I'll be trying to figure it out as well but i'd appreciate a hand.
… With a little careful work I can always round down so that these rounding errors act as a kind of extra 'fee' the network charges users and no new coin ever gets created.
I think rounding down both sides and destroying a few satoshis is the best way.
Today I fixed many bugs while cleaning up the console output which now dumps all log messages to a file. The display of market data is partially implemented, but I do not yet find the CLI interface intuitive so I cannot cross #2 off my list quite yet.1) Clean Up CLI interface and remove console SPAM
2) Add display of market data (order book and current prices)
3) Add automatic margin call functionality
4) Implement client/server model for network communications
5) Add calculation of interest due and earned for short/long positions
6) Add calculation of dividends earned on bts positions.
7) Integrate PTS and BTC wallet import tools
Initialize genesis block and validate I can spend AGS and PTS balances.
9) Implement JSON-RPC API to go with CLI interface.
I am for the MVP, as it would allow the prediction market theory to be vetted early on.
So release date is really subject to whether we need a full Qt GUI to launch. What are your thoughts?
In my opinion, getting something out there that people can look at and verify that progress is being made is vital. If it's a minimal viable product (MVP), then so be it. At least the gearheads and early adopters will have something tangible to play around with while the other features are being implemented. I don't know if it's a good idea to allow real speculation in BTS considering the platform would still be far off from what was promised but let it operate in a test enviroment.
protoshares down again at http://cryptmarketcap.com/
can we get these all fixed?
thanks
How long was it down? I never saw it.
I'm not going to fully address Dan's concerns here. The questions he listed indicate they either didn't read or didn't comprehend the whitepaper. For example, the entire philosophy of Ethereum is to be a base layer for innovation thus the particular economic model of a DAC running on top of Ethereum is beyond the scope of our design. A person could indeed have dividends in a sub-currency, yet this point seems to have been missed or ignored.
As for P2P exchange, we have a close relationship with Open Transactions and combined with a namecoin style contract provided in the whitepaper and bitmessage makes a significantly more efficient distributive exchange than is possible with BitShares. Trust is not required as auditing can be done on Ethereum blockchain and we wouldn't suffer any bloat.
Things like 7 again demonstrate either a lack of comprehension or ignorance of our design, contracts are more than robust enough to launch a proof of stake subcurrency. 6 seems to ignore ethereum script is turing complete and thus you can compile a language like c++ into it (anyone ever used coffeescript to write js)?
On a side note, I am honestly curious how Invictus intends on building DACs without a turing complete language? It seems like you would end in an infinite inductive process of having to build a bigger feature set for the next set of DACs. I guess they have a different philosophy and this is fine. I wish them well and hope they find success for the market's benefit.