Major NEM Announcement | Bitcointalksearch.org

minerfool

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Quote from: r0ach on May 21, 2016, 09:04:06 AM

Quote from: jabo38 on May 21, 2016, 02:06:58 AM

“The private networks, once you get them on Bitcoin technology, it’s very easy to upgrade them to a public network from a private network."

Is this a joke? Nobody has any interest in buying coins created out of thin air by a central authority for profit. That's the same thing as the banking system we already have. The only reason Bitcoin has value is because there is no central banker issuing the block reward and the block reward is independent from it's creator. None of the stuff you're talking about is a "decentralized currency".

Federated chains are appendable spreadsheets of 0 value. Cryptocurrency means open entropy systems, not recursive systems or federated chains.

Think the joke is on you Grin

r0ach

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Quote from: jabo38 on May 21, 2016, 02:06:58 AM

“The private networks, once you get them on Bitcoin technology, it’s very easy to upgrade them to a public network from a private network."

Is this a joke? Nobody has any interest in buying coins created out of thin air by a central authority for profit. That's the same thing as the banking system we already have. The only reason Bitcoin has value is because there is no central banker issuing the block reward and the block reward is independent from it's creator. None of the stuff you're talking about is a "decentralized currency".

Federated chains are appendable spreadsheets of 0 value. Cryptocurrency means open entropy systems, not recursive systems, not bounded entropy systems, not federated chains.

mepsipax

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NEM looks extremely promising, definitely one to watch

jabo38

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mining is so 2012-2013

Quote from: Fuserleer on May 20, 2016, 06:33:55 AM

Quote from: r0ach on May 20, 2016, 06:15:38 AM

Ok, let's ignore the hype and get to the real question. Why would anyone want a permissioned ledger or federated chain (all PoS coins are permissioned ledgers) over a permisionless chain (bitcoin)? The US dollar is already a federated chain. Lowering the overhead for banker's internal systems so they profit more is of no interest to people that don't own shares in banks. You have to use something that isn't a permissioned ledger or federated chain to escape the usury, debt based, banking trap.

I don't always agree with r0ach ...

... but when I do it's because hes right

Of course, good luck with your venture, it is good to see the smaller platforms and projects making moves, but I REALLY wish everyone wasn't so concentrated on giving banks exactly what they want for chump change.

The end goal of a private ledger isn't to just give banks everything they want. There is change forced from that outside, and change grown from within.

When Jeff Garzik was recently asked to comment on his plans for private ledgers for big money, he said, “The private networks, once you get them on Bitcoin technology, it’s very easy to upgrade them to a public network from a private network. That’s my halfway stealthy strategy to get Bitcoin into large institutions. And it’s an amusing game where sometimes you have to just change the name from Bitcoin to blockchain and all of the sudden they’re happy again.” https://www.cryptocoinsnews.com/jeff-garziks-stealthy-ploy-to-get-bitcoin-onto-private-blockchains/

somacoin

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Quote from: r0ach on May 20, 2016, 09:03:22 AM

Let's move on to the next subject. Why proof of stake systems have no value:

Let's move to the next subject. Why r0ach is a permissioned altcoin parasite.

r0ach

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Let's move on to the next subject:

Quote from: r0ach on May 20, 2016, 08:32:04 AM

Why proof of stake has no value:

Since Satoshi did not solve the Byzantine generals problem, this means confirmations are completely arbitrary. So why are two confirmations more useful in Bitcoin (PoW) than one? Because it's an open entropy system where over a period of time, it's either unlikely or statistically impossible for someone to maintain a monopoly on block validation when there is no upper limit to confirmations.

Recursive systems like proof of stake tend to permanently monopolize block validation by design, with no real fault or state recovery to fix it once it goes off the rails. This makes a proof of stake confirmation essentially worthless due to being a bounded entropy system.

On top of being worthless, proof of stake is also a permissioned ledger. The purpose of mining in Bitcoin is to create a permanent decentralized exchange peg, which thus results in a permissionless system.

greentea

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Quote from: r0ach on May 20, 2016, 06:15:38 AM

Ok, let's ignore the hype and get to the real question. Why would anyone want a permissioned ledger or federated chain (all PoS coins are permissioned ledgers) over a permisionless chain (bitcoin)? The US dollar is already a federated chain. Lowering the overhead for banker's internal systems so they profit more is of no interest to people that don't own shares in banks. You have to use something that isn't a permissioned ledger or federated chain to escape the usury, debt based, banking trap.

If you've been following Mijin, there are lots of private/public companies already partnered with Mijin. It's what the market wants.

It's more than just banks that have an interest in blockchain tech.

Here's venture capitalist talking about public/private chains and he basically gives the strategy of NEM/Mijin is now using.
https://www.youtube.com/watch?v=c9CjWz2N5Hs&feature=youtu.be&t=58m22s

Bitcoin is bitcoin, NEM is NEM ...

Fuserleer

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Quote from: r0ach on May 20, 2016, 06:15:38 AM

Ok, let's ignore the hype and get to the real question. Why would anyone want a permissioned ledger or federated chain (all PoS coins are permissioned ledgers) over a permisionless chain (bitcoin)? The US dollar is already a federated chain. Lowering the overhead for banker's internal systems so they profit more is of no interest to people that don't own shares in banks. You have to use something that isn't a permissioned ledger or federated chain to escape the usury, debt based, banking trap.

I don't always agree with r0ach ...

... but when I do it's because hes right

Of course, good luck with your venture, it is good to see the smaller platforms and projects making moves, but I REALLY wish everyone wasn't so concentrated on giving banks exactly what they want for chump change.

r0ach

legendary

Activity: 1260

Merit: 1000

Ok, let's ignore the hype and get to the real question. Why would anyone want a permissioned ledger or federated chain (all PoS coins are permissioned ledgers) over a permisionless chain (bitcoin)? The US dollar is already a federated chain. Lowering the overhead for banker's internal systems so they profit more is of no interest to people that don't own shares in banks. You have to use something that isn't a permissioned ledger or federated chain to escape the usury, debt based, banking trap.

jabo38

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Activity: 1232

Merit: 1001

mining is so 2012-2013

Quote from: schnidl on May 20, 2016, 02:00:20 AM

awesome news! I also heard core-devs are now working fulltime, they left their jobs, is this true? NEM is going mainstream i japan, could become very very interesting.

Yes. The NEM developers are now full time paid development team.

Seggbek Ur

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Price will up, duoble, triple. Wink

gabmen

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CryptoTalk.Org - Get Paid for every Post!

another new improvement I want to watch this thread knowing that japan really adopting crypto currency will be expecting more coming from it and I don't want to be late I'll take some time to update this thread making it sure that I will not be late from all the good news coming from OP, thanks for sharing OP. good luck

Warren.Buffet

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very nice work NEM dudes

schnidl

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POS killed the POW-star

awesome news! I also heard core-devs are now working fulltime, they left their jobs, is this true? NEM is going mainstream i japan, could become very very interesting.

jabo38

legendary

Activity: 1232

Merit: 1001

mining is so 2012-2013

http://mijin.io/en/633.html

"With this architecture, Mijin and NEM shall be creating yet another first in the crypto-sphere. Catapult will mark the beginning of an enterprise class approach. It will create a new standard of design and is unprecedented in the blockchain domain, lifting its bar."

The intent of Tech Bureau to commit and provide for the NEM open source project is to demonstrate its sincere contribution to the NEM open source project, ultimately with the intention to make Mijin and NEM a strong blockchain solution, and to accelerate the growth of both TB, its partners, and NEM in a tightly knitted alliance.

Topic: Major NEM Announcement (Read 986 times)