Bitcoin Confusion | Bitcointalksearch.org

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: superresistant on June 03, 2014, 12:45:57 PM

I knew about these two actually.
Darkmarket project has been canceled.
Is openbazaar used ?
Why isn't it added on the client directly ?

BitcoinQt didn't really change for years. It's just about using the currency and that's it.
I really love Bitcoin but I reckon it has limit.
Bitcoin is stuck. All the hype is about the price.

The real innovations will come from cryptocurrencies that are not based on Bitcoin.

Dark market hasn't been cancelled, it is an open source proof of concept in alpha stage that anyone can take and build upon. Openbazaar is merely an example of one fork of Darkmarket. What would the point be of adding it to Bitcoin QT or Core directly? If anything we want to make bitcoin more modular. There are many more wallets than Bitcoin QT.

I don't understand why you assume Bitcoin is stuck when it has the more developers and innovations than any other alt. This is despite being more conservative and careful than other alts. Bitcoin can simply swallow up any features that we find useful in other alts if there is any innovation outside the bitcoin ecosystem as well.

How many Implementations of Nxt are there compared to Bitcoin?
How many different wallets of Nxt are there compared to Bitcoin?
How many developers are working on Bitcoin projects compared to NXT?
How much QA and testing is done with Bitcoin compared to NXT?

NXT really is quite behind and dangerous to use when you take into account the above.

Neg

full member

Activity: 224

Merit: 100

Quote from: superresistant on June 03, 2014, 12:45:57 PM

Quote from: inBitweTrust on June 03, 2014, 08:55:25 AM

Quote from: superresistant on June 03, 2014, 07:08:28 AM

Everyone can implement applications on top of blockchain...
The fact is that there is absolutely nothing but currency and nothing else is planed.

Decentralized Marketplaces with privacy tools-
https://github.com/darkwallet/darkmarket
https://github.com/OpenBazaar/OpenBazaar

I knew about these two actually.
Darkmarket project has been canceled.
Is openbazaar used ?
Why isn't it added on the client directly ?

BitcoinQt didn't really change for years. It's just about using the currency and that's it.
I really love Bitcoin but I reckon it has limit.
Bitcoin is stuck. All the hype is about the price.

The real innovations will come from cryptocurrencies that are not based on Bitcoin.

Why has Darkmarket been cancelled? Is that the thing Amir was working on?

JackCelere

sr. member

Activity: 322

Merit: 250

Quote from: franky1 on June 03, 2014, 05:24:04 AM

NXT is a premined and centralised scheme. it belongs in the facebook credits and itunes credits category, not the bitcoin category.
i say this because its more of a facebook 2.0 (using blockchain instead of sql database) more so then a truly free market decentralised currency
dont knitpick the analogy, its intention is purely to be as laymen as possible in as short an explanation as possible

Can you clarify that?

superresistant

legendary

Activity: 2156

Merit: 1131

Quote from: inBitweTrust on June 03, 2014, 08:55:25 AM

Quote from: superresistant on June 03, 2014, 07:08:28 AM

Everyone can implement applications on top of blockchain...
The fact is that there is absolutely nothing but currency and nothing else is planed.

Decentralized Marketplaces with privacy tools-
https://github.com/darkwallet/darkmarket
https://github.com/OpenBazaar/OpenBazaar

I knew about these two actually.
Darkmarket project has been canceled.
Is openbazaar used ?
Why isn't it added on the client directly ?

BitcoinQt didn't really change for years. It's just about using the currency and that's it.
I really love Bitcoin but I reckon it has limit.
Bitcoin is stuck. All the hype is about the price.

The real innovations will come from cryptocurrencies that are not based on Bitcoin.

Neg

full member

Activity: 224

Merit: 100

I dont see any reasons why Next would overtake BTC. The blockchain voting thing sounds inteteresting though. I'll have to look into that.

Blazin604

full member

Activity: 224

Merit: 100

Thanks for all the input..still confused as to how this stuff will work. Also how many Satoshi are there...imagine bitcoin being used for this stuff how many stocks / contracts traded daily and how fast it would contribute to depleting the supply of coins. Here are 2 great videos to watch. He talks alot about other features of bitcoin. Very interesting stuff.

1. http://m.youtube.com/watch?v=KW_wYvZ1eZg

2. http://m.youtube.com/watch?v=lEWdPe6uACg

zeetubes

sr. member

Activity: 371

Merit: 250

I'm pretty sure the concept of bitcoin (rather than bitcoin itself) has been tested and maybe even used for electronic voting. But really only to enforce no double voting etc. The hassle is that no politician in the US would ever want people to actually have the power to vote on a given issue. Shit, that would obsolete the whole of congress and just about every other aspect of the corrupt awfulness we have to suffer through right now.

thecoindoctor

newbie

Activity: 48

Merit: 0

Quote from: Blazin604 on June 03, 2014, 03:13:16 AM

Hey all I am new I have been following BTC for quite some time now and have invested into it. I have watched countless videos of andreas Antonopoulos and I remember him saying that Bitcoin isn't just a currency it can be used for voting ect...how come this hasn't been implemented into Bitcoin? I know NXT coin is implementing all of this stuff... Also do you believe NXT will replace bitcoin or will Bitcoin serve as " digital gold " ? ..Also if bitcoin were to be used for voting ect...would coins get spent every time a vote is cast or stock/ contract is traded? sorry for the stupid questions...im just a bit confused.

Didn't know about the bitcoin voting, wth...

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: jc01480 on June 03, 2014, 07:43:23 AM

Oh, shit. BTC influencing politics? Accurate voting? Irrefutable proof of numbers? Not sure the real players in today's political circus can handle the truth.

No more 100% turnout in heavily democratic Philadelphia and Cleveland precincts? Perish the thought!

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: superresistant on June 03, 2014, 07:08:28 AM

Everyone can implement applications on top of blockchain...
The fact is that there is absolutely nothing but currency and nothing else is planed.

Small Sample of Bitcoin applications that are currently being used right now-

Arbitration-
https://www.bitrated.com/

Multisig voting-
https://coinb.in/multisig

Decentralized Marketplaces with privacy tools-
https://github.com/darkwallet/darkmarket
https://github.com/OpenBazaar/OpenBazaar

decentralized P2P microblogging platform
http://twister.net.co/

Additionally, with Treechains and Sidechains many more features can be implemented while at the same time leveraging the security of Bitcoin and thus making all of these alts superfluous.

jc01480

hero member

Activity: 854

Merit: 500

Nope..

Oh, shit. BTC influencing politics? Accurate voting? Irrefutable proof of numbers? Not sure the real players in today's political circus can handle the truth.

superresistant

legendary

Activity: 2156

Merit: 1131

No one really answered your question.

Bitcoin fanatics claim that Bitcoin can be used for many things other than a currency. Everyone can implement applications on top of blockchain...
The fact is that there is absolutely nothing but currency and nothing else is planed.

It's been years Bitcoin exist and as time goes on, Bitcoin get frozen. Less and less changes.
As you talked about Nxt. It took few months from a small dev team to implement functions that Bitcoin will probably never ever have.

Yes Nxt distribution is radically different from the mining scheme and some people find it unfair.
But does it matter at all when the point of this crypto is to provide services and build an economy ?

franky1

legendary

Activity: 4424

Merit: 4794

bitcoin does have voting already.

EG

send funds to one of these people
person A 1amadeupaddress1
person B 1amadeupaddress2
person C 1amadeupaddress3

the person with most received wins..

now wasnt that simple

protokol

legendary

Activity: 1188

Merit: 1016

I think the idea is that a voting/contract system could be bootstrapped to the blockchain by anyone. This would work by using, for example, a single satoshi as a "coloured coin", where it had an extra intrinsic value (like a single vote, or a single share/contract with a company). The actual value of the satoshi would be negligible, and the value would come from it's extra defined use. This works, as each satoshi on the blockchain has a unique identifier, that could be tracked by a company using them for contracts, or a voting system.

Think that's how it would work...

Light

hero member

Activity: 742

Merit: 502

Circa 2010

Quote from: Blazin604 on June 03, 2014, 03:13:16 AM

Also do you believe NXT will replace bitcoin or will Bitcoin serve as " digital gold " ?

Any feature that has been added to an altcoin could just as easily be added to Bitcoin if it was deemed necessary. Most of those 'features' are just experimental options that provide niche functionality that doesn't really fit with the notion of a currency. While it can be used for more, right now Bitcoin's main directive is to become a globally accepted currency. On that note, the one thing that other coins can't replicate is the merchant acceptance and infrastructure built around Bitcoin - even Litecoin and Dogecoin don't have remotely as many businesses willing to accept them nor the ability to easily buy them as compared with Coinbase et al.

franky1

legendary

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NXT is a premined and centralised scheme. it belongs in the facebook credits and itunes credits category, not the bitcoin category.

i say this because its more of a facebook 2.0 (using blockchain instead of sql database) more so then a truly free market decentralised currency

dont knitpick the analogy, its intention is purely to be as laymen as possible in as short an explanation as possible

haploid23

legendary

Activity: 812

Merit: 1002

I actually haven't seen any real life applications of how bitcoins are used as contracts or voting. As of now, it's being used solely as a currency, so I'd love for someone to explain how voting or contracts can be derived from bitcoins, without us "losing" them.

porcupine87

hero member

Activity: 546

Merit: 500

hm

Quote from: kwukduck on June 03, 2014, 03:46:51 AM

That being said, the freedom is in the protocol, why do you want the core devs to implement all thinkable features? Everyone can build on top of it. Even you!
I would rather have a well maintained core than a bloated buggy feature-bomb as core software for the network.

you are right. Every human is an excellent programmer and if not, everyone can just simply learn it

chennan

legendary

Activity: 1316

Merit: 1004

Many exchange is using BTC to vote new alt crypto to get listed. Once the specified amount of BTC is sent to the specified address, the coin will get one vote. I do not know about NXT, let others answer!

kwukduck

legendary

Activity: 1937

Merit: 1001

Not sure if trolling or serious...

NXT is a joke... Along with basically most of the other altcoins or scamcoins as i prefer to call them. Only a very small number actually try to improve fundamentally at some points and they then serve more as feature experiments than anything else. I recommend you to be skeptical with the grandiose claims made by devs and tonns of altcoin shills, most of it has been refuted time and time again.

That being said, the freedom is in the protocol, why do you want the core devs to implement all thinkable features? Everyone can build on top of it. Even you!
I would rather have a well maintained core than a bloated buggy feature-bomb as core software for the network.

Topic: Bitcoin Confusion (Read 1326 times)