Topic: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA - page 566. (Read 1266568 times)

Could we get some Proof about POSa ? maybe some videos like we saw last times?


thank you dev!

Hi socket, yes I actually did think about this too.  I had very long discussions all night about the idea of weighted system with theDagger.  It got complicated rather quickly.  Just like you said, I thought of using weight based on how many previous transactions that have been completed and money involved and age, all those factors could still be abused via automated accounts which could automate the process of making aged and reputable accounts to sell to fraudsters.  Then their becomes a black-market selling highly rated accounts.

This is why I'm avoiding a rating system at the moment, even one based on weighted factors.  In order for this to truly work, it needs to be based on the money passing hands in a way that the seller and buyer can truly be verified to be separate individuals that don't know each other.  Which is tricky to prove.  I've got some ideas for this I might propose later, but this is a tricky problem indeed.

As much as I love cloak and am holding a serious stack I would not recommend borrowing btc to buy cloak. Not because you may lose, I doubt you will, but because its not a good practice to borrow to gamble with.

Oh, a lot of cheap CLOAK, nice 

Shit! I wish I had more btc to gobble up some of that cheap Cloak. Does anybody have any btc loan recommendations?

Hi socket, yes I actually did think about this too.  I had very long discussions all night about the idea of weighted system with theDagger.  It got complicated rather quickly.  Just like you said, I thought of using weight based on how many previous transactions that have been completed and money involved and age, all those factors could still be abused via automated accounts which could automate the process of making aged and reputable accounts to sell to fraudsters.  Then their becomes a black-market selling highly rated accounts.

This is why I'm avoiding a rating system at the moment, even one based on weighted factors.  In order for this to truly work, it needs to be based on the money passing hands in a way that the seller and buyer can truly be verified to be separate individuals that don't know each other.  Which is tricky to prove.  I've got some ideas for this I might propose later, but this is a tricky problem indeed.

Did you happen to see my suggestion about coming up with a formula that takes multiple factors into account?  I was thinking some combination of listing activity, staking balance, and the wallets days destroyed? This way you get a complete picture of how a lister is operating. It's easy to game a single matrix of activity.  But if you add in others it becomes harder to game.

I thought about ratings, and there is some simple ratings involved, such as number of failed/successful transactions with trustless escrow.  The problem with ratings is they can so easily be manipulated.  People will just pay for an item to themselves to give themselves a good rating. What use will ratings be then?

I was thinking therefore of leaving the ratings up to the listees in their posts.  One could link to a third party trusted site that the community agrees upon in their listing post and people could view the ratings there.  If anyone has an idea for a p2p style rating system that can not be abused I'm open.  I could not think of anything on the initial concept for OneMarket.  The entire team is always open to ideas though.

Maybe also a catchall that nothing illegal may be bought or sold.  The last thing you guys want is criminal charges that you helped set up another Silk Road, so the clearer you make it from the start that this is intended to not be that, the better.

But as long as we have your attention, I have some other suggestions.  I read the whitepaper, but it has been a while, so I aoplogize in advanced if any of this is addressed there.  Also I apologize if some of this is impossible due to the nature of anonymous wallets.  But just some ideas.

* do not overlook the value of ratings - buyers should be able to rate their sellers and probably vice versa.  I think this is the strongest assurance ebay buyers have.  To me, this is more valuable than the trustless escrow.  Trustless escrow is good, but the problem is if your run into a difficult person and you guys just can't agree, you both lose your escrow and you both end up losers, and I guess as a buyer it is some consolation knowing the seller lost money too, but it is still not a good situation

* there should be a history of how many successful transactions parties have

Also, I have some questions on the interface.  How will the listings be organized?  Will search work well?  With all of this being decentralized, will there be a lot of lag bringing up listings?

^^This. Exchanges are now quick to add. I forgot this. It used to be, you'd trade off a spreadsheet or field open offers in here. Wasn't too long ago, but somethings do change quickly.

He meant before it's on Mintpal - i.e. when it's on Bittrex only

Two things, one is how does a user become a reviewer? If it's just any user with Cloak in their wallet what stops me from splitting my cloak up into a bunch of wallets and getting a bunch of votes? Another thing is that for those of us wishing to develop 3rd party addons for one market or sidechains or escrow systsems, it would be really helpful to know what you're planning in terms of an exposed wallet api or rpc commands.

So how do you buy coins before they hit exchanges?

Hey man, I feel your pain. When I started out I had 4 btc and promptly lost 2. I didn't have much money so this was horrible. The key to the game is not to listen to anyone saying get in this, or get out of this. You must make decisions based off of sound reasoning. The ones who yell loudest are just the shepards wrangling the sheep to slaughter. Fear is no way to make a decision. If you believe in a coin, let your conviction be the guide. If you start to doubt a coin, rethink your strategy. If a coin is down, re-access the situation. If it's like cloak, then it's probably a lot of people cashing out who bought when it was .0002. All in all, I made the majority of my money by riding two huge trains. i caught both when they were cheap. Look out for the new coins and check out what they have to offer. Look at the coin specs. A lot of coins or a little. POS POW. Look at the devs and what they aim to accomplish. I have made and lost money chasing. I guarentee you though, if you buy in early and hold, you will have an easier time. Now I don't mean when a coin hits mintpal, but before. There are so many rackets that get run to bilk everyon out of money. The latest is now the fud game. Big angry words with false accusations. You want to make money? that's the time to buy. Buy when you ask yourself, why is this so cheap? As Buffet said "be fearful when others are greedy, greedy when others are fearful". The fud of cloak, I added 10 btc worth without trying. Shieldcoin? The fud netted me a shit load at insane prices. I may look foolish now, but check back in two months. Cloak will be banging that .0025 like a hooker on coke looking for .005 for some anal. This game isn't won on the quick swings. Consistency, evaluation and holding. I held drk for 4 months to net a sum of insanity. I would hold your dick in my butt cheeks for 5 years to net that same amount. Crypto is full of hot air and dudes who think they're hotshit on twitter. Simple thing is to not listen to them. They don't know shit. They don't have the artillery to keep a crypto down. They may pump it, but only because they ARE SELLING INTO PEOPLE WHO READ THEIR TWEETS. AGAIN, THEY BUY SOMETIME BEFORE, ACCUMULATING, FOR DAYS, THEN YELL PUMP!!!!!! EVERYONE RUSHES AND BUYS THEIR COINS. All in all, it's your money. Invest it wisely. If I told you to buy a dildo and stick it in your ear, you'd tell me to fuck off. That's exactly what you should be saying to anyone who anonymously tells you to buy or sell. Heck, you'd probably get more out of the dildo in the ear. Sorry for rambling.

Now I don't mean when a coin hits mintpal, but before.