Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 2129. (Read 9723803 times)

b.t.w. Very interesting Greg Maxwell talk on privacy: https://www.youtube.com/watch?feature=player_detailpage&v=TYQ-3VvNCHE#t=304

I think he's right. Payment channels are already starting to do for bitcoin what payment processors (Visa etc) do for banks. All the heavy lifting will be done off blockchain using dedicated systems that can fully support the retail sector, then there will be bulk clearing through the blockchain at discrete settlement points.

I've always seen Bitcoin as a replacement for Fiat money - not a replacement for payment systems.

There are also implications for privacy. People may end up having accounts with payment channel counterparties where they buy stuff all month long but where the payment channel buffers there transactions from the blockchain and them settles them as a batch. So since there's no direct interaction with the blockchain by the card holder, there's no impact on privacy. Obviously we've then come full circle back to a kind of centralised system of banks again, but those services are always going to be there since the convenience always far outweighs the risk of privacy breaches (at least for day to day amounts).

I've got some sympathy for the Bitcoin "no blocksizers" (those arguing for no change) because they want to push all this development off blockchain where it really belongs and put pressure on that sector to grow.

The priority for cryptocurrency developers (IMO) should therefore be to focus on maximising the monetary properties of their tech as a priority, and not stumble unconsciously into developing a payments system since that is a separate 'layer' of the commercial cycle which is already well served, regardless of what the underlying currency is - crypto or fiat.

Visa is just an accounting system that shuffles numbers around the globe. Those numbers can just as easily represent crypto as fiat.

Agree, and also,its the 2 worlds of on chain and off chain systems, perhaps merging the totally inefficient bitcoin ledger coupled with the fast efficient off chain asset/record system of ripple  masternodes
http://gendal.me/2015/01/15/cost-trust-something-else-whats-the-killer-app-for-block-chain-technology/
''Bitcoin is deliberately less efficient than a centralized ledger! Its design adds really difficult engineering constraints to what we already had. How could this technology possibly be cheaper than what we already have?''

Dave Birch is going to give a talk on it in Amsterdam next week (hypercube is half way down)
https://twitter.com/dgwbirch
''Your excellent piece reminded me of my blockchain cube for Amsterdam next week @gendal ''

The pieces referred to by Dave Birch are these, I think,
http://gendal.me/2014/07/05/why-the-payment-card-system-works-the-way-it-does-and-why-bitcoin-isnt-going-to-replace-it-any-time-soon/
and
http://gendal.me/2015/06/08/towards-a-unified-model-for-replicated-shared-ledgers/

They are thinking the same as you have been saying months, I believe  

I don't quite get that.

Is it trying to show that the ledger can be censored by anybody if data is put on it 'on-chain' ?

Off topic (but juicy) wednesdays with a global outlook by Dr. Jim Willie
http://www.oneradionetwork2.com/mp3/money/economy/06.09.15_willie_jim.mp3

Says John Kerry was shot in an assassination attempt in France recently and not a bike accident !!!
And the reason the Cyprus banks were shut down was because Russia was using them to buy gold and the western hegemony could not allow that.

Cube of the day 

Thanks @WastedLTC

You know where ot find me

splawik, i have 200 DASH laying around, have rest to team up for another frendly MN ?

cmmon guys, who want to team up to start one more MN ? cmmon let me see community

lets build 1st comunity Masternode

hehe Rux i`ve PMed stone with the same msg

Cheers mate!

I needed some time to lick my wounds but I'm back and I'll read the last 100 pages or so

stonehedge, nice to see you my bro 

you did miss a lot...but nothing that you cannot figure out for your self

Sounds like I missed a lot of fun in the few months I haven't kept up with this thread!

Don't you mean fades to Blue?

Anyway, you can't do that. You were missed when you were exiled by the mods. But your cloak and dagger appearance was one of the funniest things that's happened around here in ages.

Are you working on the new Dash promotion video by any chance ?

Too many late nights ?

Amazing. Seems those actually exist....

I don't know anything other than what is in the LIMX OP but that is a lot of hate for a fork of an open source project.  It doesn't portray you or Dash in a very positive light at all.

I also think that to post language like the following alongside the Dash logo is vile.

well i agree with you, btc is more and more centralized.
and yes like you said technically its possible to create system which btc masternode get paid. in fact i think its possible to create system which implement pos-pow-masternode. but in real world you might as well create new alt-coin because btc big miner most likely will not accept this proposal.

EDIT : i cant wait to buy more dash

This is sooo cool, might come in handy. IP LCD Interface for Raspberry Pi

https://www.youtube.com/watch?v=ntMhqB9ce3M

adding masternode in in btc will be like another reward halfing to big miner