Author Topic: Hangout every Friday @ 10am EST/STD  (Read 221115 times)

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Offline fuzzy

One of my questions:
Have you been paying attention to Greece?  An island in Greece is looking into using cryptocurrency... why should they choose BitShares or their own separate DPoS chain?
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Offline Erlich Bachman

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The blockchain can lock up funds

I want them funds locked up forever even if I leave my wallet and private keys on Times Square.

I want an annuity smart wallet address whose only function is to send "x" amount to "y wallets" at "z" frequency.  It cannot send, convert, or trade funds in any other way.  I want a restricted annuity so even if the wallet got compromised, there is nothing you can do with that wallet functionally except send it more funds.

Also, you are going to have to make the annuities more expensive because people will make high frequency spam annuities.  I suggest 100BTS (make it an adjustable feature)

Basically, I want a James Bond style self destructing smart wallet.
I want to be able to burn (kill / zombify) that thing with the push of a button and 100 BTS and know that this smart wallet is forever zombified, and send funds to it and it will pay out on time.

This is a brilliant feature that will revolutionize business contracts

Yes, you would not use this for real long term annuity solutions unless you were on your death bed and didn't know who to trust your private keys to.  Another great app for this by the way

The value in this app is that you are selling for the first time ever:

some:  "no human can touch this ever"  (forever and ever amen eternity) level of trust

and tell me that you are not going to gorge yourself on this monster industry.
« Last Edit: July 02, 2015, 07:09:53 pm by Erlich Bachman »
You own the network, but who pays for development?

Offline bytemaster

Dear Cryptonomex,

We need a special re-occurring payment/annuity function that basically deletes all private keys before anybody or computer can ever get a chance to see or steal them.  An untouchable annuity where not even the issuer can touch the funds until the annuity is paid out.

Give the option to create (purchase) "n" number of wallets with private keys that are generated internally but never displayed on screen or stored in any cache.  A single destination address would be generated that would function like this:  once funds are sent there, they are automatically split up and redirected into the "n" accounts where the money is essentially burnt/untouchable because nobody has ever seen or recorded the private keys.  Since these are smart wallets, they can pay out an annuity specified prior to their creation.

The market here is for a "last will and testament" where no humans can ever have a hope of touching the core property.  The benefit of this is that you can create an annuity wallet address on the NSA lobby computer where anybody can send funds to but nobody can ever know those private keys (even if they were watching you throughout the entire process and had access to the computer that generated the annuity wallet address).

Having "n" (random and unknown private key) accounts to initially store the funds guarantees that if one account is ever hacked by Buck Rodgers, then the other accounts would still continue to pay out the annuity (n-1 accounts would remain funded).  This just prevents the basic all your eggs in one basket" scenario that every "last will and testament" has ever suffered from.  This system could be made smarter by adding a function that monitors the activity of the "n" wallets and if any outgoing transaction is made that is not the specified annuity transaction (hacked), then all the other "n" accounts would automatically pay for another "n" number of accounts for every existing account (assuming that there are still enough funds left) and just copy the annuity parameters to them and send them the divided funds again.

This makes the "last will annuity account" act like a asexual organism where if part of it is attacked, then it can replicate into "n" smaller organisms every time it is attacked.

So if somebody was ever to attack the blockchain with quantum random key generators, then the contents of this account would divide and destroy itself (by purchasing "n" more wallets for each remaining wallet each time it is hacked by another quantum computer) before the god-hacker could even get his hands on half the funds.

Furthermore, if I am wealthy and can afford say n=1000, then that kind of revenue is good for profits and is fair value exchange for this financial security of diversification strategy. 

You have the power to create such a bulletproof automatically defensive untouchable and of course smart investment annuity that no human in the next 100 years could ever hope to get a piece of. Why not take a few minutes, and add these unique options.

Thank you for listening to this request.

Making the private keys unknown would guarantee a higher level of unhackability than if you created the ("n" number of) wallets yourself and then destroyed the private keys by hand.  Anybody who was monitoring your computer screen would have them.

This would help you support the "privacy loving" crypto community without having to add any new features, just a subroutine that generates a "smart burn address" where funds are returned to designated wallets over time.

This would work like a "last will" where if I knew that I was dying, or losing my mind, I could generate 1 address and be guaranteed an annuity paid to known accounts that is paid from these randomly generated (temporary burn/keyless/smart) accounts with unknown private keys (unknown to any human or computer).

This could act as a way to fund an annuity that is never hackable (even to the annuity holder, computer holder, or NSAgenius).   You can't touch your money, but neither can anyone else.  Call it the Martyr button.

Thanks again

I am not sure what you want this to do.   The blockchain can lock up funds and release them to a particular key over time (vesting balance objects).   You don't need "dummy keys" or anything else.   The problem is if the beneficiary of the vesting balance has their key compromised then that revenue stream will be lost.   Didn't really change anything.   
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Offline Erlich Bachman

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Dear Cryptonomex,

We need a special re-occurring payment/annuity function that basically deletes all private keys before anybody or computer can ever get a chance to see or steal them.  An untouchable annuity where not even the issuer can touch the funds until the annuity is paid out.

Give the option to create (purchase) "n" number of wallets with private keys that are generated internally but never displayed on screen or stored in any cache.  A single destination address would be generated that would function like this:  once funds are sent there, they are automatically split up and redirected into the "n" accounts where the money is essentially burnt/untouchable because nobody has ever seen or recorded the private keys.  Since these are smart wallets, they can pay out an annuity specified prior to their creation.

The market here is for a "last will and testament" where no humans can ever have a hope of touching the core property.  The benefit of this is that you can create an annuity wallet address on the NSA lobby computer where anybody can send funds to but nobody can ever know those private keys (even if they were watching you throughout the entire process and had access to the computer that generated the annuity wallet address).

Having "n" (random and unknown private key) accounts to initially store the funds guarantees that if one account is ever hacked by Buck Rodgers, then the other accounts would still continue to pay out the annuity (n-1 accounts would remain funded).  This just prevents the basic all your eggs in one basket" scenario that every "last will and testament" has ever suffered from.  This system could be made smarter by adding a function that monitors the activity of the "n" wallets and if any outgoing transaction is made that is not the specified annuity transaction (hacked), then all the other "n" accounts would automatically pay for another "n" number of accounts for every existing account (assuming that there are still enough funds left) and just copy the annuity parameters to them and send them the divided funds again.

This makes the "last will annuity account" act like a asexual organism where if part of it is attacked, then it can replicate into "n" smaller organisms every time it is attacked.

So if somebody was ever to attack the blockchain with quantum random key generators, then the contents of this account would divide and destroy itself (by purchasing "n" more wallets for each remaining wallet each time it is hacked by another quantum computer) before the god-hacker could even get his hands on half the funds.

Furthermore, if I am wealthy and can afford say n=1000, then that kind of revenue is good for profits and is fair value exchange for this financial security of diversification strategy. 

You have the power to create such a bulletproof automatically defensive untouchable and of course smart investment annuity that no human in the next 100 years could ever hope to get a piece of. Why not take a few minutes, and add these unique options.

Thank you for listening to this request.

Making the private keys unknown would guarantee a higher level of unhackability than if you created the ("n" number of) wallets yourself and then destroyed the private keys by hand.  Anybody who was monitoring your computer screen would have them.

This would help you support the "privacy loving" crypto community without having to add any new features, just a subroutine that generates a "smart burn address" where funds are returned to designated wallets over time.

This would work like a "last will" where if I knew that I was dying, or losing my mind, I could generate 1 address and be guaranteed an annuity paid to known accounts that is paid from these randomly generated (temporary burn/keyless/smart) accounts with unknown private keys (unknown to any human or computer).

This could act as a way to fund an annuity that is never hackable (even to the annuity holder, computer holder, or NSAgenius).   You can't touch your money, but neither can anyone else.  Call it the Martyr button.

Thanks again
« Last Edit: July 02, 2015, 02:10:37 pm by Erlich Bachman »
You own the network, but who pays for development?

Offline xeroc

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I am interested in buying shares of CMX. Is this going to be possible? And if so, when and how?

hopefully CMX shares will be available as bitassets...

We have our legal advisors looking at what is possible under emerging rules in our jurisdictions.
If its not possible you should change juristiction .. CMX has to be traded on chain evetually .. else it is like bitpay only taking paypal payments

Yeah, but if we can be a pathfinder showing out how to do it safely in the US we can bring something new to the table.  Others are already doing it outside the US.   

We think we see a way but we must be vewy, vewy careful.

.. promising ..

Offline Stan

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I am interested in buying shares of CMX. Is this going to be possible? And if so, when and how?

hopefully CMX shares will be available as bitassets...

We have our legal advisors looking at what is possible under emerging rules in our jurisdictions.
If its not possible you should change juristiction .. CMX has to be traded on chain evetually .. else it is like bitpay only taking paypal payments

Yeah, but if we can be a pathfinder showing out how to do it safely in the US we can bring something new to the table.  Others are already doing it outside the US.   

We think we see a way but we must be vewy, vewy careful.

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline fuzzy

Questions below this point will be asked in the NEXT hangout (10JUL2015)
**NOTE:  There will be no hangout this week (3JUL15) due to Independence Day**
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« Last Edit: June 30, 2015, 06:35:27 am by fuzzy »
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Offline xeroc

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I am interested in buying shares of CMX. Is this going to be possible? And if so, when and how?

hopefully CMX shares will be available as bitassets...

We have our legal advisors looking at what is possible under emerging rules in our jurisdictions.
If its not possible you should change juristiction .. CMX has to be traded on chain evetually .. else it is like bitpay only taking paypal payments

Offline Stan

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I am interested in buying shares of CMX. Is this going to be possible? And if so, when and how?

hopefully CMX shares will be available as bitassets...

We have our legal advisors looking at what is possible under emerging rules in our jurisdictions.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline cylonmaker2053

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I am interested in buying shares of CMX. Is this going to be possible? And if so, when and how?

hopefully CMX shares will be available as bitassets...

Offline onceuponatime

I am interested in buying shares of CMX. Is this going to be possible? And if so, when and how?

Offline Ander

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Wait until they get a load of my "decentralized radio" that I'm putting on a thing called the "decentralized internet". Well, we call it the "Safe Network", but "decentralized" is a thing, so.

Then you'll be able to buy a car whose doors open like \ this /  :D
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Offline Russ Hanneman

I am looking forward to getting my hands on Graphene powered Bitshares custom blockchain for Tokenly

In your last interview, you mentioned that if you made a Graphene blockchain for a competitor (like Tokenly), then you would negotiate a 20% sharedrop on the BTS community to protect your BTS investment. Or you would just build them a UIA on the BTS chain for 0% stake.

Have you been contacted regarding this proposition yet?  Because it appears that everybody from Max Keiser to Pat Byrne is going to be knocking at your door the moment they comprehend the scope of your revolutionary new invention.

Wait until they get a load of my "decentralized radio" that I'm putting on a thing called the "decentralized internet". Well, we call it the "Safe Network", but "decentralized" is a thing, so.


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Offline fuzzy

Questions below this point will be asked in NEXT week's hangout (26JUN 2015)
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Offline topcandle

No I am referring to funding when donation runway ended at end of q1.  Bm said in a mumble that it could go on indefinitely but now he's retraced that statement and is saying they are now equity partners which makes sense...
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