thanks fuz, good stuff

Quote from: jcalfee1 on December 20, 2014, 12:12:11 am

I love it: "theft is legitimate" given our goal is to produce trust less systems.  This is the way to go.

Since we claim the shares with real private keys, we should mention that theft of any private key is not allowed.

Or a design so we don't use a real private key....

I recomend moving all funds after import to a new wallet.

How do I do this with AGS?

Has the dev hangout been permanently switched to 10am EST?

Quote from: alexkravets on December 18, 2014, 04:25:35 am

Quote from: Helikopterben on December 18, 2014, 01:50:29 am

I personally NEVER hold any value in any IOUs inside ripple, but rather use them for what they are meant to be used:

Cash-in & Cash-out.

Then what is the point of even attempting decentralization?  Why not just make ripple a centralized service completely?  It seems like it would be much easier.

Sir,

You confuse Ripple labs majority position in XRP the asset with control of the network or protocol.

Ripple is nether a PoW NOR a PoS ledger, it uses Ripple Consensus which is entirely different.

You or I are absolutely no less privileged from the point of Ripple consensus than Ripple labs.

At this time the DEFAULT UNL list contains RL nodes when you download the server but you can change it to whatever list of nodes you want. You are also free to lobby other nodes to add your servers.

De-facto the UNL nodes on most of the hundreds of rippled nodes out there still do contain RL nodes thereby keeping the network centralized at this time, in the long run banks will start listing each other thereby creating a de facto cartel but without a central operator and the network will become as decentralized as Internet routing is today


Sent from my iPhone using Tapatalk

The way I understand it, banks are already  "a de facto cartel but without a central operator", so unlike most other crypto projects, I guess I am having trouble understanding how Ripple will help purge the earth of these scumbags.

In any case, with the rapidly increasing display of spectacular incompetence from our financial overlords, I suspect it won't be long before the great unwashed masses start searching for a solution that cuts the existing banking powers out of the loop completely. As this shift in sentiment appears to be rapidly approaching, I won't be losing too much sleep over Ripple's growing market cap.

Think about all the money that could be available for development once BTS goes to $0.10/share (approx. $10grand /month per delegate) or how about $1 a share (approx $1.2 million/ year per delegate!, possibly over $100 million a year total !!!). There is literally no other project that can even approach this kind of continual support potential. Hell, we should be able to lobby congress with this kind of dough. I wonder when we will see the first "k street" delegate campaign. 

Shouldn't this be front page r/bitcoin news? (not necessarily with bitsharestalk as the source)  I'd have thought this is a bill for the whole crypto community to rally around, to get US citizens on the phone/writing letters/petitioning to congress to have this bill approved.

True. I can't really see how this could be anything but good for crypto in general. If it allows banks to enter the space, which they are already moving towards (German Fed mtg. on crypto: https://bitsharestalk.org/index.php?topic=11939.msg157454#msg157454), they will be nevertheless unable to fully dominate like they do with the current system, and furthermore their participation will help validate the legitimacy of the blockchain in the minds of the public. "Wow, if banks are using it than it must be secure."

Hmmm. All I keep thinking is "what's the catch?"
This seems way too altruistic to be true.

We know that legislation is often enacted ahead of time in order to "cover their tracks" as they implement their longer term plans so.... maybe the banksters are about to begin launching their own cryptos?

The USD, Euro, and every other government(aka. banker) issued currency out there can be seen as having relative degrees of volatility as well. Heck, the whole idea of a rock solid store of value is only something human beings could dream up, since everywhere you look the universe is basically engaged in violently tearing itself apart. I do not believe that fiat currencies (ledger entries, including all blockchains) can be made into an arbitrary "store of value" as well as remove volitility without the violent cohersion, fraud, and subversion that the bankers' enforcement branch (government) are known for. Strip away the subterfuge, and fiat is nothing but a commodity backed by a "promise".

This is why bit assets are so ingenious. I3 has created a bridge between the existent world of commodities (including all national currencies) and the miracle of transparent ledger interaction. As long as something "stable" exists in the outside world, bitshares is useful. Arhag seems to have arrived at the same conclusion that I have: once we approach the endgame or "saturation stage", the logic begins to break down and its altogether unclear how things will proceed from there.....My guess is some sort of radical social transformation 

EDIT: Not at all trying to throw water on the brainstorm, NPI, just pontificating on the (im)possibility of fiat holding any sort of value outside of being a tool for arbitration.