[ANNOUNCE] Zero Reserve - A distributed Bitcoin Exchange - page 4.

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: phelix on April 27, 2014, 05:47:45 AM

OK, the latest version does not crash any more on win32, seems stable so far. I had to remove the -rdynamic option from zeroreserve.pro, though.

I'd like to buy a tnBTC for 500 zimbabwe dollars! Grin

That's the catch: You need to give credit *in Zimbabwe Dollar* before you can sell TnBTC for Zim$. Orders are not propagated to a hop unless they can at least partly be paid for.

As we were using mainly "Fools Gold" for testing so far, the Zim$ network is too sparse. That's why it didn't arrive here.

phelix

legendary

Activity: 1708

Merit: 1020

OK, the latest version does not crash any more on win32, seems stable so far. I had to remove the -rdynamic option from zeroreserve.pro, though.

I'd like to buy a tnBTC for 500 zimbabwe dollars! Grin

91porn

full member

Activity: 156

Merit: 100

Quote from: Voodah on December 26, 2013, 03:49:22 PM

Interesting. Watching.

great
Will try the latest version.

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: smoothie on April 02, 2014, 01:34:07 PM

Curious, how do transactions sent in at the same time are handled?

What method is used to verify that person A's transaction came before person B's transaction? Assuming that they were both sent at the same time.

This is likely the one of the bigger issues when verifying an exchange transaction. Collisions will happen and dealing with them is tricky.

Let me know. Thanks

First come, first serve. Messages are bound to come in serially, even if it is just milliseconds, because they come through the network stack. An incoming message causes reservation of an order, or a part of it. So there are 3 cases:
1. Both requests can be filled, NP
2. The first request gets filled, the second one only partly
3. The second request can't be filled - the seller sends a VOTE_NO message which causes the TX to TransactionManager::abort().

ZeroReserve very much looks like an exchange, GUI-wise. But under the hood it is OTC. Reason is that every ZeroReserve instance maintains an order book and does the matching. Orderbooks of different nodes are bound to differ.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Curious, how do transactions sent in at the same time are handled?

What method is used to verify that person A's transaction came before person B's transaction? Assuming that they were both sent at the same time.

This is likely the one of the bigger issues when verifying an exchange transaction. Collisions will happen and dealing with them is tricky.

Let me know. Thanks

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

First successful "Trade". The Biteasy Blockexplorer shows the associated Multisig Address on the TestNet:
https://www.biteasy.com/testnet/addresses/2N4w1rAVcQ4gWSm3h34w6YJeC6AkZEDEkYc

Mike Hearn

legendary

Activity: 1526

Merit: 1134

You could also investigate doing what the Hive folks have done, and use bitcoinj via JNI. There are tools that can autogenerate JNI wrappers into C++ to make the bindings easier. bitcoinj supports not only testnet but also regtest mode in Bitcoin master, which lets you run a private testnet where you can mine blocks instantly. I've switched to regtest mode for most of my testing, it eliminates waiting for blocks or trying to find faucets completely.

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: anu on January 06, 2014, 10:57:45 AM

Quote from: phelix on January 02, 2014, 02:36:52 PM

How are things going?

Thanks for asking. Here is the status:

For now, libBitcoin has been repaced by the Satoshi client. I am aware that this is not the best solution, but for now, I need a working testnet mode and I could not make this work on libBitcoin. Before I even think about releasing something that deals with real money I need to make sure that it works with reasonably large networks with bogus money.

The wallet can't do much at this point - it simply shows the total balance and the balance of the addresses. But a "proof of concept" release is getting very close now.

There is now a bounty for making libbitcoin work on Windows:
https://bitcointalksearch.org/topic/bounty-05-btc-for-vm-image-with-working-libbitcoin-cross-compilation-358298

I added a bounty to make testnet work:
https://bitcointalksearch.org/topic/m.4560062

It seems that it was a good idea to make the Bitcoin implementation a compile time option and separate it with an abstraction layer.

Voodah

sr. member

Activity: 266

Merit: 250

Quote from: GianniDalerta on January 06, 2014, 05:28:03 PM

Anu: did you see this on reddit:

BitMarket
over bitmessage.
http://bittext.ch/8wApvESl6y

That could be very interesting.

I would very much like for bitmessage to become more popular and services on top of it will certainly help.

GianniDalerta

newbie

Activity: 26

Merit: 0

Ideas to share accross the board.

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: GianniDalerta on January 06, 2014, 05:28:03 PM

Anu: did you see this on reddit:

BitMarket
over bitmessage.
http://bittext.ch/8wApvESl6y

Very interesting idea. If I understand it correctly, this is a de-centralized Bitmit. I am not understanding how they deal with fraud, however - solving that problem is cruicial. Also how to deal with Vandals who just call it fun to disrupt a system? If they can solve this, they are a very serious competitor to ZR.

I am not entirely happy with my solution to the Vandal problem: I put a price tag to DOS attacks, but for someone who is willing to pay the price, they can do more damage than it costs them.

But then, maybe I am taking it too serious. Seems like nobody attempted to DOS the Bitcoin network so far, even though it seems quite possible.
(Some people called Satoshi Dice a DOS attack.... Grin

)

EDIT: I called them a potentially serious competitor. That does not mean I don't welcome this. My purpose is to help making the Bitcoin ecosystem immune to Govt/Bank action. I applaude everyone who does the same.

GianniDalerta

newbie

Activity: 26

Merit: 0

Anu: did you see this on reddit:

BitMarket
over bitmessage.
http://bittext.ch/8wApvESl6y

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: phelix on January 02, 2014, 02:36:52 PM

How are things going?

Thanks for asking. Here is the status:

For now, libBitcoin has been repaced by the Satoshi client. I am aware that this is not the best solution, but for now, I need a working testnet mode and I could not make this work on libBitcoin. Before I even think about releasing something that deals with real money I need to make sure that it works with reasonably large networks with bogus money.

The wallet can't do much at this point - it simply shows the total balance and the balance of the addresses. But a "proof of concept" release is getting very close now.

phelix

legendary

Activity: 1708

Merit: 1020

How are things going?

Voodah

sr. member

Activity: 266

Merit: 250

Interesting. Watching.

bach

newbie

Activity: 5

Merit: 0

I guess it is about the arrows pointing away from Bill Gates (i.e. to those extending him credit / receiving IOUs from him).

Presumably the people to whom those arrow point don't need to be friends with each other and so know nothing about each other.

It would seem injudicious to make a decision on how much to lend someone without knowing about their other liabilities (a bit like what credit reference agencies facilitate banks in doing now).

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: bach on December 22, 2013, 03:54:14 AM

I guess the amount of credit one would be willing to extend to someone depends on the amount of other credit already being extended to them.

ZR does not know the credit of friend-of-friends. But yeah, that will be the rule: I guess Bill Gates and his buddies won't even bother to open the Credit Dialog for a mere $1,000 while college students would consider it irresponsible to grant that much credit to their friends.

Quote from: bach on December 22, 2013, 03:54:14 AM

Does that sound reasonable? Does Zero Reserve take this into account somehow?

Its definitely reasonable, but ZR does not make any efforts to encourage / enforce responsible credit granting. As said - you know how much credit your friends grant you, but you don't know how much they grant each other. It is the philosophy of ZR to keep data strictly local. So ZR's ability to do so is very limited, even if I thought it a good idea to try - which I don't.

bach

newbie

Activity: 5

Merit: 0

I guess the amount of credit one would be willing to extend to someone depends on the amount of other credit already being extended to them.

Does that sound reasonable? Does Zero Reserve take this into account somehow?

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: aminorex on December 20, 2013, 02:12:56 AM

Is it really even necessary to eliminate the risk of a failure in the trust chain? I mean, if I owe money to Alice, and I'm planning on paying it back with money which Bob promised to pay me, but Bob fails to pay in time, I will still pay Alice, because Alice is a friend. I may not trust Bob in future, but I certainly don't want Alice to cease trusting me. Then I'd have no hope of escaping the friend-zone. A major reason hawala networks work is that the participants are willing and able to cover for each other to some extent. Bob's mom needed a hernia operation, so we all deferred his obligations, lest we be deemed heartless bastards, and since who knows when your own mom is gonna get a descended...whatever. That distributed compensatory mechanism is what makes the network anti-fragile.

That is how it is supposed to work. There is no need to settle all debts all the time, just like in the banking system. In the banking system, they went so far as to make settlement almost impossible, after they started to de-monetize gold. What does "settlement" really mean? You swap a debt obligation of a friend against a debt obligation of your bank. Calling this settlement is IMHO a joke.

A breach of trust doesn't happen during a transaction. The way it happens is this: Someone uses all available credit with all friends to the limit and then refuses to recognize that debt. That default would remain local - it doesn't affect the network. Its no different to paying your friend's bill in a pub because he forgot his wallet and then the friend later refuses to pay back.

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

Is it really even necessary to eliminate the risk of a failure in the trust chain? I mean, if I owe money to Alice, and I'm planning on paying it back with money which Bob promised to pay me, but Bob fails to pay in time, I will still pay Alice, because Alice is a friend. I may not trust Bob in future, but I certainly don't want Alice to cease trusting me. Then I'd have no hope of escaping the friend-zone. A major reason hawala networks work is that the participants are willing and able to cover for each other to some extent. Bob's mom needed a hernia operation, so we all deferred his obligations, lest we be deemed heartless bastards, and since who knows when your own mom is gonna get a descended...whatever. That distributed compensatory mechanism is what makes the network anti-fragile.

Topic: [ANNOUNCE] Zero Reserve - A distributed Bitcoin Exchange - page 4. (Read 57101 times)