Topic: [ANN] BitContracts.org - page 2. (Read 5888 times)
Regarding the subject of the post: it's about time something like this gets started. I hope this gets off the ground.
Whats the problem? Its a vapourware organisation, FT mentioned a specific item of vapourware it'd be nice to have, all good so far...
-MarkM-
First three sentences on Wikipedia: "Vaporware is a term in the computer industry that describes a product, typically computer hardware or software, that is announced to the general public but is never actually released nor officially cancelled. Vaporware is also a term sometimes used to describe events that are announced or predicted, never officially cancelled, but never intended to happen. The term also generally applies to a product that is announced months or years before its release, and for which public development details are lacking."
I assume he is using the term in reference to the bolded part of the definition?
That's just my way of saying that I promise nothing at this point and simply am looking for whether there is an interest. If there is, I'll look into how to organize development process.
Imagine BitContracts.org actually exist and delivers things as advertised. How would you want to interact with it?
Whats the problem? Its a vapourware organisation, FT mentioned a specific item of vapourware it'd be nice to have, all good so far...
-MarkM-
BitContracts.org is a vaporware organization
? 
FYI, OT is already capable of instant secure payments, and dispute mediation (see escrow smart contract.)
What OT is missing, is "secure handling of users' funds." That is, you would still have to trust the OT issuer who is holding your physical BTC.
The solution for this is to store the BTC in a voting pool (M-of-N) on the blockchain itself.
As you proceed with BitContracts.org, may I ask that your first action be the implementation of a couple of simple C functions for M-of-N blockchain transactions. I know that my own project will start using it right away.
What OT is missing, is "secure handling of users' funds." That is, you would still have to trust the OT issuer who is holding your physical BTC.
The solution for this is to store the BTC in a voting pool (M-of-N) on the blockchain itself.
As you proceed with BitContracts.org, may I ask that your first action be the implementation of a couple of simple C functions for M-of-N blockchain transactions. I know that my own project will start using it right away.
BitContracts.org is a vaporware organization which develops technologies based to advanced features of Bitcoin. Particularly, BitContracts.org is going to utilize multi-signature transactions and basic forms of smart contracts to develop solutions for
and other facilities which fall in a broad category of “escrow”.
Organization will develop open source software and standards, offer consultancy and host services.
In future BitContracts.org might expand its developments into adjacent areas.
Q&A:
How exactly are you going to do that? Plug-ins/add-ons for Bitcoin software (or modified versions), a web service used to communicate... Bitcoin protocol already supports everything, we just need some GUI and a little bit of code for communications and logic.
Is it related to colored coins and smart property? No. There might be some interactions with colored coin technology (e.g. for things which involve both escrow and colored coins), but colored coin software is being developed by BitcoinX.org community, which is completely independent. Some people can work on both projects, of course, but it doesn't mean that projects are same.
What is the source of funding? Currently it is uncertain. Crowdfunding is being considered. Consultancy and service fees might bring in some revenue.
What's about other initiatives and standards for signed invoices, payment protocols etc.? We'll take a pragmatic approach: we will not wait for a standard to be developed, we will aim to offer a complete solution as soon as possible. However, if standard already exist we will use it or interoperate with it. There is always a risk that BitContracts.org's solutions will be considered a ghetto of sorts, in that case we'll try to offer migration.
At this point I just want to see if there is interest. If you think your business/project might use something which is offered by BitContracts.org please comment here or send me PM.
Users are also welcome to comment on this. Do you want deposit solutions which will be actually secure? I.e. so that business won't be able to simply ran away with your money, even if it is hacked? If answer is yes, please post here, ask businesses you interact with to consider this etc.
EDIT: This post explains why I want to do this and possible use cases: http://www.reddit.com/r/Bitcoin/comments/1a6ewu/ive_been_waiting_for_a_usable_blockchain_escrow/c8ui49g
This post explains how I might do it: https://bitcointalksearch.org/topic/m.1507716 (whole thread might be relevant, by the way).
Possible overlap between colored coins and escrow: http://wiki.bitcoinx.org/index.php/PredictionMarketImplementationStrategy
- dispute mediation
- instant secure payments
- secure handling of users' funds
and other facilities which fall in a broad category of “escrow”.
Organization will develop open source software and standards, offer consultancy and host services.
In future BitContracts.org might expand its developments into adjacent areas.
Q&A:
How exactly are you going to do that? Plug-ins/add-ons for Bitcoin software (or modified versions), a web service used to communicate... Bitcoin protocol already supports everything, we just need some GUI and a little bit of code for communications and logic.
Is it related to colored coins and smart property? No. There might be some interactions with colored coin technology (e.g. for things which involve both escrow and colored coins), but colored coin software is being developed by BitcoinX.org community, which is completely independent. Some people can work on both projects, of course, but it doesn't mean that projects are same.
What is the source of funding? Currently it is uncertain. Crowdfunding is being considered. Consultancy and service fees might bring in some revenue.
What's about other initiatives and standards for signed invoices, payment protocols etc.? We'll take a pragmatic approach: we will not wait for a standard to be developed, we will aim to offer a complete solution as soon as possible. However, if standard already exist we will use it or interoperate with it. There is always a risk that BitContracts.org's solutions will be considered a ghetto of sorts, in that case we'll try to offer migration.
At this point I just want to see if there is interest. If you think your business/project might use something which is offered by BitContracts.org please comment here or send me PM.
Users are also welcome to comment on this. Do you want deposit solutions which will be actually secure? I.e. so that business won't be able to simply ran away with your money, even if it is hacked? If answer is yes, please post here, ask businesses you interact with to consider this etc.
EDIT: This post explains why I want to do this and possible use cases: http://www.reddit.com/r/Bitcoin/comments/1a6ewu/ive_been_waiting_for_a_usable_blockchain_escrow/c8ui49g
This post explains how I might do it: https://bitcointalksearch.org/topic/m.1507716 (whole thread might be relevant, by the way).
Possible overlap between colored coins and escrow: http://wiki.bitcoinx.org/index.php/PredictionMarketImplementationStrategy
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