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Offline underwun

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[ANN] IDentabit Announcement
« on: August 12, 2015, 08:44:57 pm »
Identabit Announces
Exclusively to the Bitshares Community

Introduction

We welcome the Bitshares Community participation in a new permission based distributed ledger to be called IDentabit. This will be a new blockchain based on DPoS and will offer ensured privacy and identity for every transaction.

Like Bitshares, IDentabit is an undertaking with a passion for its importance, combined with a belief that you need to cozy up to the beast in order to get close enough to deal a fatal blow.

Best to clarify, the beasts we are intent on slaying are the central facilitators and institutions taking advantage of those that cannot defend themselves, we are intent upon winning and won’t be satisfied with anything less than the establishment of a global currency that realizes the potential promised by Bitcoin.

This is a long game and in the near term won't make much difference, given the disdain the broad community has for acknowledging the need for compliance, and the widely held belief that a solution to a decentralized identity based chain was and is infeasible.

So be prepared for a long determined journey because we are convinced that the door is open, timing is perfect and the reasoning behind IDentabit is sound.

History

We became interested in Bitshares when looking for a suitable platform for Remitabit, close to a year ago.
However we became concerned that whilst anonymous currencies help to thwart government overreach, they empower theft of remitter assets and and we believe governments will never regulate in favor of anonymous cross border transactions or enable seamless integration with the financial gateways that remitters require.

A recent FATF report laid it out clearly, FATF are acting to influence banks to take a risk based approach, in essence giving banks the responsibility of choosing between high risk anonymity or lower risk [identity based] alternatives.

Against this backdrop and our passion for costless P2P transactions, we came to believe that if we were to act in the interests of remitters, there was and is a need for a decentralized identity based alternative to Bitcoin, one that offered the immediacy of P2P but the safety and accuracy of transfer that can be inherent in an identity ensured blockchain.

We believe if a community based, decentralized, open source identity based alternative to Bitcoin is not introduced, then we will see institutional alternatives define the future and the possibility of financial disruption and disintermediation will be cast aside. And therefore  Satoshi’s only lasting achievement will have been as a messenger that guided institutions to even greater profits.

With this as our objective, we began consulting with thought leaders in crypto-currencies, including Dan and Stan Larimer, to discuss how to solve various issues facing the implementation of an identity based blockchain that would serve as the basis for Remitabit.

A road to assured privacy was ultimately revealed by Adam Back, with “Confidential Transactions”, which offer a more practical solution to User Transaction Privacy than Peter Todd’s work on Zerocash, thus cementing the reality of a private but identity based alternative to Bitcoin.   

However, when faced with the realities of scaleable performance and our views on governance and sustainable funding, we came to believe in the the future of DPoS.  And how, with the support of the Bitshares community, we would lay the foundations for the attributes we consider essential for the future of adoption, remittances and the end game as we see it, decentralized banking.

To this end we are focused on defining IDentabit, a decentralized alternative to Bitcoin. This being one step along the way to introducing Remitabit, a unique remittance model that will sit as a related chain atop the blockchain ultimately adopted by IDentabit.

Note: We refer to DPoS as we believe it to be the common thread amongst all Bitshares born projects no matter their name or purpose. The more projects using DPoS the stronger the community network effect.

Market Factors

Influences that empower our belief in IDentabit’s future.

A lack of Bitcoin adoption at a consumer level due to a lack of institutional gateways

Institution's risk exposure should they contribute to counterparty anonymity

Consistency amongst regulators that AML/CTF must be part of the crypto future

Minimal network effect, if everyone on the network is anonymous, how is it possible to create a growing community of associated users, this inherent limitation leads to clumsy inaccurate transfer of value

Banks and IBM’s intentions to build institutional permission based chains

The reality and stigma of crime pervades digital currencies, once banks with the help of IBM introduce identity based alternatives that result in:
simplified user interfaces
  • consequent viral adoption
  • bank level security
  • minimal fees
  • P2P transfers
  • P2P/AML/CTF
  • <5 second transfer times

Why will consumers care who or what technology or philosophy lies beneath, regular consumers are primarily concerned with safety and convenience?

We may all enjoy hearing Andreas speak of the power of the Bitcoin network effect but in reality user driven network effect has failed to materialize and by keeping the anonymity torch burning he is buying the banks more time to develop their alternatives.

Finally, if we don’t build it, someone else will! Indicators include, Accenture and SETL, which are not currency competition but are speaking to permission based networks.

We believe the journey begins here with you, we have solutions to the issues of
  • Transaction privacy
  • decentralized governance
  • AML/CTF compliance and institutional acceptance
  • Sustainable funding and
  • Absolute transparent governance
But we don’t have much time, if we don’t act now the decentralized currency movement will be killed by attrition and banks will win.

Request for Consideration

Positioning Constructs

Whilst, (as we point out below) we are long range fans of Bitshares’ comprehensive vision, in the near term we see the full feature set as distracting and intend to limit functionality to facilitate  an apples to apples comparison (by the media) with Bitcoin. You will see from branding and issuance denominations, our desire to benefit from a subliminal association with Bitcoin.

We also believe, that in order to become a viable alternative to Bitcoin, we must focus on attacking PoW, it was Dan’s attacks on PoW that drew us in and we believe they must continue. Where there are massive inefficiencies there are also massive opportunities.

Why we value Bitshares

Transaction speed and capacity - whilst irrelevant in the short term, success demands it is catered for.

An integrated vision - we see features that are valuable to our vision for various products and services.

Voting mechanisms - whilst not essential, addresses issues of decentralized independence and governance.

DPoS and its suitability for progressive release and sustainable funding.

Finally and most importantly, we believe in Dan and the team's capacity to deliver, software has been our life and we know what it takes !

Invitation

Following are the details of our plan for IDentabit and the Bitshares Community and hoping it leads to your interest and ultimately, enthusiastic support.

Objectives

To offer the first open source decentralized blockchain that ensures privacy from public scrutiny and precludes  forensic analysis.

To offer the first open source digital currency that enables institutional support and adoption as a consequence of enabled counterparty identification and AML/CTF reporting.

To offer transparent governance of all foundation planned (and actual) expenditure, where the originators are limited to 5% of the committed release.

Issuance

Sustainability

50% goes to sustainable funding, released via a method we refer to as Proof of Appreciation.

Genesis Allocation

50% of the remaining issuance would be share dropped as follows.

20% in honour of the existing Bitshares community.

10% to Developers

20% to those identified as constructive contributors to Bitshares betterment
Note: Vesting conditions will apply.

50% of the remaining issuance would be shared as follows

10% to the originators

10% to investment partners

30% to
Strategic Partners
Application Providers
Gateways
Marketing and Technology Partners

Issuance Table



Project Manifesto

Agreement that value is determined by adoption and use, not by tech or ideology. If we look critically at Bitcoin we witness the disregard of adoption fundamentals for revered tech and the ideology surrounding anonymity, when in fact anonymity is preventing adoption of decentralized technologies and disruption of financial networks.

Recognition that IDentabit’s objectives are clearly stated:

Adoption by institutions. Bitcoiners may continue to rave about anonymity, but pigs will fly before we see institution's risk exposure to counterparty anonymity.

Adoption by way of known user association. True network effect is not possible if you don’t know who can receive what you send.

Accuracy of transfer must also be achieved by way of user association, by matching user address books to members of the IDentabit community.

Recognition that banks love anonymity. The more time we spend defending the importance of anonymity the more time it gives them to build the inevitable alternatives.

We must set a course and remain consistent. Deviation, no matter how well intended will divide the community.

Our goal must be to establish consensus through adoption. True consensus comes not from votes but rather rejection of proposed hard forks, not only by miners (delegates) but also gateways (exchanges), merchant's web wallets and users.

As we are using DPoS we will attract the attention of trolls seeking to attack the potential of centralized wealth and influence. As a consequence we must focus on:

Divestment of influence through the progressive issuance

Governance is core, courtesy of Governance Councils where checks and balances are transparent and visible to the community.

Funding

We comfortably estimate the value of IDentabit based on an identity based chain, development to-date and community support to be between $50m and $200m.  As a consequence we intend to raise between $2.5m and $10m by way of investment partners. Investment partners being organisations with capital and potential material influence over the value of IDentabits. These  include known major institutional exchanges and technical partners seeking relevance in the payments industry.

Governance

We strongly believe in the consensus model and introduce Governing Councils, community shared budgets, notification periods and full wallet transparency.
Sustainable funding

With 50% of the genesis pool being allocated to sustainability, the main concern relates to progressive issuance, its transparency and predictability. To this end we introduce the concept of “Market Maker Auctions”. A semi-annual event that only occurs when market conditions permit. Such auctions, based on a published formula, will (once stable) be managed by code from inception through to disbursement of funds.

All funds will be allocated to those supporting the network and the IDentabit Foundation Council. ALL expenditure will be budgeted by operating councils for comment by the community.

Direction

IDentabit will reflect strategic thought, commitment and loyalty to its objectives.

Thank you for your consideration and we look forward to working with all of you that get behind, what is a serious and challenging objective.

Underwun - Out!
« Last Edit: August 12, 2015, 10:46:43 pm by underwun »
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Offline infovortice2013

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Re: [ANN] IDentabit Announcement
« Reply #1 on: August 12, 2015, 08:48:20 pm »


Good luck.
New Keyoteeid: 5rUhuLCDWUA2FStkKVRTWYEqY1mZhwpfVdRmYEvMRFRD1bqYAL
new08/21 id 5Sjf3LMuYPSeNnjLYXmAoHj5Z6TPCmwmfXD6XwDmg27dwfQ

Offline Ander

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Re: [ANN] IDentabit Announcement
« Reply #2 on: August 12, 2015, 09:00:34 pm »
How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!
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Offline underwun

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Re: [ANN] IDentabit Announcement
« Reply #3 on: August 12, 2015, 09:05:07 pm »
Love it - thank you  ;)

Wasn't easy to get to this point, we had to win over Dan and Stan and then work through the technical issues, both of which took a while :-)

This is a huge challenge that comes with a huge opportunity...thanks again for your support.
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Offline bytemaster

Re: [ANN] IDentabit Announcement
« Reply #4 on: August 12, 2015, 09:05:32 pm »
How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Brownies ;)
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline underwun

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Re: [ANN] IDentabit Announcement
« Reply #5 on: August 12, 2015, 09:06:27 pm »
How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points
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Offline bobmaloney

Re: [ANN] IDentabit Announcement
« Reply #6 on: August 12, 2015, 09:13:58 pm »
 +5%
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Offline Ander

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Re: [ANN] IDentabit Announcement
« Reply #7 on: August 12, 2015, 09:17:41 pm »
How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

And...brownie gonna go to the moon now. :)
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sumantso

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Re: [ANN] IDentabit Announcement
« Reply #8 on: August 12, 2015, 09:18:45 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

Offline Ander

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Re: [ANN] IDentabit Announcement
« Reply #9 on: August 12, 2015, 09:22:46 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

Sumantso, I believe you can post in the brownie thread and get some Brownie.PTS, since you are a longtime contributor with a high post count.
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sumantso

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Re: [ANN] IDentabit Announcement
« Reply #10 on: August 12, 2015, 09:25:45 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

Sumantso, I believe you can post in the brownie thread and get some Brownie.PTS, since you are a longtime contributor with a high post count.

I am afraid that BM may not take too kindly to me with my post history as they are usually quite critical.

Offline Ander

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Re: [ANN] IDentabit Announcement
« Reply #11 on: August 12, 2015, 09:34:16 pm »
How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Brownies ;)

Yeah...if I had been at my computer with bitshares, and a synced blockchain, I would have bought up all the brownies from 3-5 like someone just did.  Grats to that guy!


I really should have waited to ask the question until I had blockchain fully synced and managed to load the brownie market, so that if the reply was brownies I could be first. :P
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Offline underwun

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Re: [ANN] IDentabit Announcement
« Reply #12 on: August 12, 2015, 09:34:41 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

I'm hopeful that no matter your holding small or large their is a win in this for you. This is the beginning of a long journey and IDentabit will have the opportunity in its own way to thank people, so let's focus on the winning the battle so we everyone gets something of something rather than thinking about something of nothing.
There's a reason for everything and if there isn't there should be...

Offline Ander

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Re: [ANN] IDentabit Announcement
« Reply #13 on: August 12, 2015, 09:38:07 pm »
I'm hopeful that no matter your holding small or large their is a win in this for you. This is the beginning of a long journey and IDentabit will have the opportunity in its own way to thank people, so let's focus on the winning the battle so we everyone gets something of something rather than thinking about something of nothing.

I will support it.  It is better for the world to have a decentralized identity coin controlled by many people, than to end up using some fedcoin controlled by a central government.
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Offline hodor

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Re: [ANN] IDentabit Announcement
« Reply #14 on: August 12, 2015, 09:47:02 pm »

Yeah...if I had been at my computer with bitshares, and a synced blockchain, I would have bought up all the brownies from 3-5 like someone just did.  Grats to that guy!


I really should have waited to ask the question until I had blockchain fully synced and managed to load the brownie market, so that if the reply was brownies I could be first. :P

hodor
Hodor hodor hodor hodor hodor, hodor hodor.

sumantso

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Re: [ANN] IDentabit Announcement
« Reply #15 on: August 12, 2015, 09:47:33 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

I'm hopeful that no matter your holding small or large their is a win in this for you. This is the beginning of a long journey and IDentabit will have the opportunity in its own way to thank people, so let's focus on the winning the battle so we everyone gets something of something rather than thinking about something of nothing.

I support your endeavor and its a brilliant piece of news, but I don't like you saying that brownieless members are inactive/non-contributing.

Offline testz

Re: [ANN] IDentabit Announcement
« Reply #16 on: August 12, 2015, 09:51:11 pm »
I am afraid that BM may not take too kindly to me with my post history as they are usually quite critical.

It's not a question of your critical posts it's a question of your contribution to BitShares, so if your critical posts valuable I 100% sure that you will get your BROWNIE.PTS.
Please post here: https://bitsharestalk.org/index.php/topic,17354.0.html

Offline liondani

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Re: [ANN] IDentabit Announcement
« Reply #17 on: August 12, 2015, 09:51:35 pm »
I am afraid that BM may not take too kindly to me with my post history as they are usually quite critical.

I bet he appreciates it more than post's that are saying only good words...
Smart people can benefit more from criticism...
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Offline lakerta06

Re: [ANN] IDentabit Announcement
« Reply #18 on: August 12, 2015, 09:58:30 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

I'm hopeful that no matter your holding small or large their is a win in this for you. This is the beginning of a long journey and IDentabit will have the opportunity in its own way to thank people, so let's focus on the winning the battle so we everyone gets something of something rather than thinking about something of nothing.

I support your endeavor and its a brilliant piece of news, but I don't like you saying that brownieless members are inactive/non-contributing.

did you ask for any brownies on the announcement thred, and not get any? or are you just talking on an assumption?

sumantso

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Re: [ANN] IDentabit Announcement
« Reply #19 on: August 12, 2015, 09:59:44 pm »
I am afraid that BM may not take too kindly to me with my post history as they are usually quite critical.

I bet he appreciates it more than post's that are saying only good words...
Smart people can benefit more from criticism...

One of my posts said that there is a chance CNX may abandon BTS for greener pastures if the correct offer came along, a la Counterparty devs. I  highly doubt BM would read that and rush to shower me with  brownies :P

That was the issue I had with brownie pts. Making them issued by BM meant it would promote an atmosphere of appeasement.

Anyways, congrats to all those who got the points. Mostly people who received Brownie points ARE those who are working so kudos.

Offline montpelerin

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Re: [ANN] IDentabit Announcement
« Reply #20 on: August 12, 2015, 10:01:03 pm »
I am afraid that BM may not take too kindly to me with my post history as they are usually quite critical.

I bet he appreciates it more than post's that are saying only good words...
Smart people can benefit more from criticism...

 +5%

Offline underwun

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Re: [ANN] IDentabit Announcement
« Reply #21 on: August 12, 2015, 10:01:18 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

I'm hopeful that no matter your holding small or large their is a win in this for you. This is the beginning of a long journey and IDentabit will have the opportunity in its own way to thank people, so let's focus on the winning the battle so we everyone gets something of something rather than thinking about something of nothing.

I support your endeavor and its a brilliant piece of news, but I don't like you saying that brownieless members are inactive/non-contributing.

I don't like that I said that...I'll take a look,
There's a reason for everything and if there isn't there should be...

sumantso

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Re: [ANN] IDentabit Announcement
« Reply #22 on: August 12, 2015, 10:08:00 pm »
Great announcement, and thanks for sharedropping. However,

How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Dan's Brownie Points

puts a serious dampener on the good news. You should rename it then; calling it as Active BS Community (btw, BS :P) is unfair and harsh on those who contribute but for whatever reasons are not favoured.

I'm hopeful that no matter your holding small or large their is a win in this for you. This is the beginning of a long journey and IDentabit will have the opportunity in its own way to thank people, so let's focus on the winning the battle so we everyone gets something of something rather than thinking about something of nothing.

I support your endeavor and its a brilliant piece of news, but I don't like you saying that brownieless members are inactive/non-contributing.

did you ask for any brownies on the announcement thred, and not get any? or are you just talking on an assumption?

I might have got some, who knows. I can't get the bloody wallet running.

But thats beside the point,  with brownie points being so expensive, it was at the back of my head while posting stuff about CNX and wallet. I went ahead and posted anyway, but I wonder if I will continue doing so in the future, or how many others have already compromised.

This place was already an echo chamber as at every time some thread opened everyone rushed to put +1 rather than judge critically (check the recent BANX announcement, for instance). Brownie pts are only going to exacerbate the problem.




Anyways, we are going off-topic. So identabit, huh? My first impression was of a toothpaste recommended by dentists for extra sensitive teeth, gums (not the regular toothpaste) :D

Offline CLains

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Re: [ANN] IDentabit Announcement
« Reply #23 on: August 12, 2015, 10:16:56 pm »
I might have got some, who knows. I can't get the bloody wallet running.

BM told me you had been paid sumantso, so he probably just typoed your account name, if it is true that you did not get any. From what I have seen so far BM has sent to everyone who has asked, even those who are critical of BitShares. If there is a bias in the giving out of brownie points it is because some people are too shy to ask or speak up about the things they have done. I PM'ed all hero members with some intensity a while back to mitigate this effect, encouraging people to speak up. I suggest we leave this aside, talk more in PM or start another thread if we want to discuss this further. Identabit is the proper topic here and it would be unfortunate to derail this announcement by only focusing on this issue.
« Last Edit: August 12, 2015, 10:29:59 pm by CLains »

sumantso

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Re: [ANN] IDentabit Announcement
« Reply #24 on: August 12, 2015, 10:27:10 pm »
BM told me you had been paid sumantso, so he probably just typoed your account name, if it is true that you did not get any.

As I have mentioned earlier, my concern is independent of my personal brownie pt holdings. If you see my post above you will see what the issue is IMO (I raised it since the first day). Anyways this is not the topic for that discussion.

Offline Erlich Bachman

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Re: [ANN] IDentabit Announcement
« Reply #25 on: August 12, 2015, 10:53:36 pm »
Wow, more people talking about their personal stake of brownies rather than the philosophical uniqueness of this idea (fucking disgusting).  Who cares how they are distributed.  I don't have any brownies and could give a fuck less.  You and I are free to buy in or get out now STFU about it and celebrate this revolutionary idea:

a "big brother blockchain" where little sister can also spy on big brother

Imagine a world where politicians are held to the same legal standards as you and I

No privacy = nobody gets away with crimes anytime ever. If somebody steals your coins and it's obvious who did it.  The community votes to return them and it is done.  JUSTICE

What other coin besides Ripple is not afraid to freeze funds or return lost or stolen coins (one of bitcoins main problems)?
 

So now everyone who likes the Ripple model, can now live in a world where their vote counts towards who can participate and who gets their coins frozen!

So now, when a government steals (confiscates) someone's coins, we can vote to reimburse the victim because that victim's identity is what gives them rights to own property.  Welcome to the revolution, and the irony is that this trojan horse is just what the governments have been screaming for, but what they don't realize is that they will be held to the same high personal integrity standards as everyone else.  The community is in control of the confiscation mechanism, not a centralized entity.

So now when a theft or crime occurs, you can make an appeal to the coin community.  Good luck asking the CEO of bitcoin to return your Mt Gox coins.  Or asking the CEO of Ripple a similar request.

I for one am sold on this particular DPOS chain.  I can barely sync my wallet now and have no faith in my technical ability to secure my own coins.  I want to live in a world where all I have to do is say that I am who I am and instantly have access to all I own.  Fuckthat private key multisig brain wallet paper printed backyard burried paranoid lifestyle.  I want to be free from oppression and theft.  Now I can leave my coins in private exchanges again because if MyGox happens again, then we can get them back this time.  I want IDentabit
« Last Edit: August 13, 2015, 09:02:19 am by cass »
You own the network, but who pays for development?

Offline Ben Mason

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Re: [ANN] IDentabit Announcement
« Reply #26 on: August 12, 2015, 10:59:29 pm »
This is an exceptionally eloquent proposal with a satisfyingly dense concept to word ratio. I've lately come to a some similar conclusions.....network effect is everything and it's not happening. If the banks do blockchain tech better, their systems (when they eventually catch up) will win due to the apathy/truth deficit of the majority.

As long as the governance architecture resists any and all attempts to corrupt, coerce or otherwise subvert the network rules from which consensus is derived,  then I'm very much interested and will do all I can to help accomplish your goals and the ultimate goal of a truly civilized society.  +5%

Offline yellowecho

Re: [ANN] IDentabit Announcement
« Reply #27 on: August 12, 2015, 11:51:24 pm »
Very cool- looking forward to more IDentabit news!  8)
696c6f766562726f776e696573

Offline santaclause102

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Re: [ANN] IDentabit Announcement
« Reply #28 on: August 13, 2015, 12:28:02 am »
Just having skimmed over it real quick. Will read it in more depth. But I am exited :)

Any snaphots dates known yet (for the various sharedrop targets)?

Offline lil_jay890

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Re: [ANN] IDentabit Announcement
« Reply #29 on: August 13, 2015, 12:36:02 am »
What is your timeline?  SETL already has 100k transactions per second and are moving quickly to start processing orders on the Canadian exchanges.

I feel Anonymity was the one thing that was holding people in crypto together.  Now this is going to split the community as we have already seen from Erlich Bachman.  Divide and conquer.

You say this is like a Trojan Horse to the banks, but you are allotting the majority of your funds to "strategic partners"... Investors don't give a shit about anything but making money.  Building a Trojan Horse to take down banks is on the opposite end of their ideological spectrum.

I get the "Rah Rah, we are doing this for bitshares!" thing, but it seems like a facade so that we go along with the idea.  I'm all for making money and my bank account hopes this is tremendously successful, but until there is a real plan for converting people to freedom and privacy this just looks like another version of SETL or Ripple.

Offline santaclause102

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Re: [ANN] IDentabit Announcement
« Reply #30 on: August 13, 2015, 12:56:33 am »
What is your timeline?  SETL already has 100k transactions per second and are moving quickly to start processing orders on the Canadian exchanges.

I feel Anonymity was the one thing that was holding people in crypto together.  Now this is going to split the community as we have already seen from Erlich Bachman.  Divide and conquer.

You say this is like a Trojan Horse to the banks, but you are allotting the majority of your funds to "strategic partners"... Investors don't give a shit about anything but making money.  Building a Trojan Horse to take down banks is on the opposite end of their ideological spectrum.

I get the "Rah Rah, we are doing this for bitshares!" thing, but it seems like a facade so that we go along with the idea.  I'm all for making money and my bank account hopes this is tremendously successful, but until there is a real plan for converting people to freedom and privacy this just looks like another version of SETL or Ripple.
Regulations are a fact.

The best shot is to make a system mainstream that is compatible with all regulations and which allows to easily switch to a similar system (bitshares) with privacy if needed. If users are familiar with identabit they get easily familiar with bitshares and can easily acquires it.

BTW, privacy is nothing illigal. It is just that regulations require non privacy for SOME types of transaction (financial transactions, especially above a certain amount etc.). By privacy I mean here that no one (also no government agency etc) can see what/how much you transact.
« Last Edit: August 13, 2015, 01:01:56 am by delulo »

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Re: [ANN] IDentabit Announcement
« Reply #31 on: August 13, 2015, 01:07:41 am »
I feel Anonymity was the one thing that was holding people in crypto together.  Now this is going to split the community as we have already seen from Erlich Bachman.  Divide and conquer.

Mere mortals like myself who have nothing to hide will no doubt give up privacy for convenience, especially in a level playing field where nobody has any advantages.  We just want ease of use.  I would take us the rest of our lives to learn what you already know about computers.  It's just a sad fact.  I want to be able to appeal to a community if Mark Kerpeles steals from thousands of us at once.  There is strength in numbers and I like communities for that reason.  This "every man for himself is responsible if they get their coins lost or stolen" is only cool if you are up for the technical challenge which me and my burn out hippie friends are obviously not.  WE need help from communities like IDentistBit
.
You say this is like a Trojan Horse to the banks, but you are allotting the majority of your funds to "strategic partners"... Investors don't give a shit about anything but making money.  Building a Trojan Horse to take down banks is on the opposite end of their ideological spectrum.

It is a trojan horse to "banking control" not "banking profits"

In essence banks can sell their "control" for "profits" if they integrate.  And depending on which bankers you ask exactly, I'm sure you will get different results from Joe Banker than you would get from Joe Rothschild if you asked him weather or not he wanted to integrate his local branch:

http://247wallst.com/banking-finance/2015/05/29/a-new-wave-of-bank-layoffs-with-more-to-come/
You own the network, but who pays for development?

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Re: [ANN] IDentabit Announcement
« Reply #32 on: August 13, 2015, 01:10:00 am »
This announcement is terrific. Welcome to IDentabit!

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Re: [ANN] IDentabit Announcement
« Reply #33 on: August 13, 2015, 01:19:09 am »
Good job, I agree with the direction of this.
I'm reviewing it but so far 10 out of 10.

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Re: [ANN] IDentabit Announcement
« Reply #34 on: August 13, 2015, 01:25:19 am »
How will you determine "those identified as constructive contributors to Bitshares betterment"?

Thanks!

Brownies ;)

And just like that brownies have value. If more of us develop our own point systems then if we are in a position to give back to the community we will know who to favor.

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Offline santaclause102

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Re: [ANN] IDentabit Announcement
« Reply #35 on: August 13, 2015, 02:03:36 am »
Just having skimmed over it real quick. Will read it in more depth. But I am exited :)

Any snaphots dates known yet (for the various sharedrop targets)?
One more question apart from the above: Could there be the chance that it would help legal compliance if stakeholders in the idenibit chain (identibit holders) were are also all public?

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Re: [ANN] IDentabit Announcement
« Reply #36 on: August 13, 2015, 02:08:36 am »
Just having skimmed over it real quick. Will read it in more depth. But I am exited :)

Any snaphots dates known yet (for the various sharedrop targets)?
One more question apart from the above: Could there be the chance that it would help legal compliance if stakeholders in the idenibit chain (identibit holders) were are also all public?

Check out identabit.com and you'll see it's just as much about privacy as identity.
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 mint chocolate chip

Re: [ANN] IDentabit Announcement
« Reply #37 on: August 13, 2015, 04:42:54 am »
I can see why you were excited to announce this, it appears brilliant and takes into account a lot of aspects of digital currencies.

On the website, the last word on the homepage spelled wrong, "Anouncing", the LinkedIN button is only pointed at the LinkedIN homepage.

Community, help get the social media presence going, like the FB page https://www.facebook.com/identabit and follow IDentabit on Twitter https://twitter.com/identabit

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Re: [ANN] IDentabit Announcement
« Reply #38 on: August 13, 2015, 05:24:25 am »
I might have got some, who knows. I can't get the bloody wallet running.

BM told me you had been paid sumantso, so he probably just typoed your account name, if it is true that you did not get any. From what I have seen so far BM has sent to everyone who has asked, even those who are critical of BitShares. If there is a bias in the giving out of brownie points it is because some people are too shy to ask or speak up about the things they have done. I PM'ed all hero members with some intensity a while back to mitigate this effect, encouraging people to speak up. I suggest we leave this aside, talk more in PM or start another thread if we want to discuss this further. Identabit is the proper topic here and it would be unfortunate to derail this announcement by only focusing on this issue.

Clains email was addressed to everyone, including most critical people. I chased my brownies (i was on holidays last month) and got some sent to me. I wish I was more descriptive of what I have done now ;)
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Re: [ANN] IDentabit Announcement
« Reply #39 on: August 13, 2015, 05:37:41 am »
On the subject now, this is excellent news and a great project, this will bridge the gap needed to enter cryptocurrency.

Few questions:
  • Will be the coin listed in Bitshares exchange?
  • Will you have presence in every country (like Transferwise), to reduce the costs of transfers
  • What are the initial countries you are targeting?
  • Any ideas on when will it launch the initial chain?

Thanks and good luck!
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Re: [ANN] IDentabit Announcement
« Reply #40 on: August 13, 2015, 12:25:39 pm »
I can see why you were excited to announce this, it appears brilliant and takes into account a lot of aspects of digital currencies.

On the website, the last word on the homepage spelled wrong, "Anouncing", the LinkedIN button is only pointed at the LinkedIN homepage.

Community, help get the social media presence going, like the FB page https://www.facebook.com/identabit and follow IDentabit on Twitter https://twitter.com/identabit

Thank you for identifying mistakes and getting behind our FB and Twitter presence. Lets begin a new thread focused on how we can improve and how folk can pitch in a assist in improving our professionalism.

I have just set up a thread, Important Criticism...please join us.

Need to get some sleep catch you when I wake.
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Offline santaclause102

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Re: [ANN] IDentabit Announcement
« Reply #41 on: August 13, 2015, 06:57:31 pm »
Will there be market pegged assets in IDentabit?

What will serve as the medium of exchange? Market pegged assets or the native token (identabits) or some User issued asset / issuer backed asset?

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Re: [ANN] IDentabit Announcement
« Reply #42 on: August 18, 2015, 12:27:32 pm »
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Re: [ANN] IDentabit Announcement
« Reply #43 on: August 20, 2015, 07:36:40 am »
Will there be market pegged assets in IDentabit?

What will serve as the medium of exchange? Market pegged assets or the native token (identabits) or some User issued asset / issuer backed asset?

Identabit will be a base on which various "applications" will be built,  of which Remittances (Remitabit) is one that has already been discussed.   So Initially,  the native token will be the medium of exchange,  but over time there are plans for market pegged assets and user issued/backed assets (for Remitabit, for example).
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Offline Akado

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Re: [ANN] IDentabit Announcement
« Reply #44 on: August 23, 2015, 01:24:06 pm »
http://bravenewcoin.com/news/hackcoin-a-digital-currency-and-blockchain-hackathon/
https://www.youtube.com/watch?v=VGlPjnYTPDc

In total, 5 teams pitched their ideas on “Identity and the Blockchain.” The entries were judged on business and technological feasibility, and consideration of any legal issues for the end output. The winning team, pictured below, provided a solution that met all of the criteria of the competition, and went even further by providing working code for their idea.

The Runner Up in the competition was Charles Cai of dslogix who also developed a high quality idea, focusing on big data and its interaction with identity on the blockchain. Charles has mentioned on Twitter that he will continue to build his idea.

Nicola Chang presented her idea about social identity, where an organisation or someone within the community itself would be tasked with creating an identity for their community members.

Tim Pastoor flew in from Amsterdam to introduce 2way.io for the first time to the public, he aims to build his identity system using the Eris and NXT platforms.


~Time for Identibit to follow up
« Last Edit: August 23, 2015, 01:26:08 pm by Akado »
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Re: [ANN] IDentabit Announcement
« Reply #45 on: September 12, 2015, 08:35:02 pm »

I think everyone interested in  Identabit project will find this article pretty interesting:

https://www.saveonsend.com/blog/bitcoin-money-transfer

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

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Re: [ANN] IDentabit Announcement
« Reply #46 on: September 12, 2015, 08:50:50 pm »

I think everyone interested in  Identabit project will find this article pretty interesting:

https://www.saveonsend.com/blog/bitcoin-money-transfer
This is more of an advertisement cloaked as an unbiased article. It's full of links to itself, talking about how easy/cheap it is.
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Offline tonyk

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Re: [ANN] IDentabit Announcement
« Reply #47 on: September 12, 2015, 09:02:05 pm »

I think everyone interested in  Identabit project will find this article pretty interesting:

https://www.saveonsend.com/blog/bitcoin-money-transfer
This is more of an advertisement cloaked as an unbiased article. It's full of links to itself, talking about how easy/cheap it is.
In this regard it is more of a guide for BM on how to change his blog posts for better SEO and customer acquisition purposes, imo.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline cass

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Re: [ANN] IDentabit Announcement
« Reply #48 on: September 12, 2015, 11:27:49 pm »

I think everyone interested in  Identabit project will find this article pretty interesting:

https://www.saveonsend.com/blog/bitcoin-money-transfer
This is more of an advertisement cloaked as an unbiased article. It's full of links to itself, talking about how easy/cheap it is.
In this regard it is more of a guide for BM on how to change his blog posts for better SEO and customer acquisition purposes, imo.

IMO we should concentrate more on development then blog postings ...
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Offline tonyk

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Re: [ANN] IDentabit Announcement
« Reply #49 on: September 12, 2015, 11:44:37 pm »

I think everyone interested in  Identabit project will find this article pretty interesting:

https://www.saveonsend.com/blog/bitcoin-money-transfer
This is more of an advertisement cloaked as an unbiased article. It's full of links to itself, talking about how easy/cheap it is.
In this regard it is more of a guide for BM on how to change his blog posts for better SEO and customer acquisition purposes, imo.

IMO we should concentrate more on development then blog postings ...
100% agree but when BM do posts let's put 10% more time and get the full benefits of it, is my point.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

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Re: [ANN] IDentabit Announcement
« Reply #50 on: September 12, 2015, 11:50:47 pm »

I think everyone interested in  Identabit project will find this article pretty interesting:

https://www.saveonsend.com/blog/bitcoin-money-transfer
This is more of an advertisement cloaked as an unbiased article. It's full of links to itself, talking about how easy/cheap it is.
In this regard it is more of a guide for BM on how to change his blog posts for better SEO and customer acquisition purposes, imo.

IMO we should concentrate more on development then blog postings ...
100% agree but when BM do posts let's put 10% more time and get the full benefits of it, is my point.

I don't think BM would mind if someone wanted to take some of his best content and optimize it for better SEO, etc...
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 tonyk

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Re: [ANN] IDentabit Announcement
« Reply #51 on: September 13, 2015, 12:09:33 am »

I think everyone interested in  Identabit project will find this article pretty interesting:

https://www.saveonsend.com/blog/bitcoin-money-transfer
This is more of an advertisement cloaked as an unbiased article. It's full of links to itself, talking about how easy/cheap it is.
In this regard it is more of a guide for BM on how to change his blog posts for better SEO and customer acquisition purposes, imo.

IMO we should concentrate more on development then blog postings ...
100% agree but when BM do posts let's put 10% more time and get the full benefits of it, is my point.

I don't think BM would mind if someone wanted to take some of his best content and optimize it for better SEO, etc...
I will do it (for something like 15% of the links pointing to my own referral code). The only problem is - you will definitely find people better at that stuff on this forum alone.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.