Topic: Open Bazaar bitcoin killer app! (Read 4431 times)
How is it possible to know that the bitcoins are really being "burnt" and that receiving address isn't really owned by someone?
I tried the Linux beta yesterday. It looks very promising, but there is not much going on yet.
Yeah it is still work in progress and most likely will be until beta release. Hopefully by then basic transactions will be able to be performed. I plan on starting out by offering free notary and arbitration services as well as selling products.
and of course I also plan to buy products too. I want to shift as much of my commerce on to OpenBazaar as possible.
What if burning means behind closed doors "cashing out and buying the latest lambo"? 
All that with open source code? Really?
What if burning means behind closed doors "cashing out and buying the latest lambo"?
That's a really clever idea, that makes bitcoins more valuable. So while the donator loses money, the rest of users profit from it, so nothing is lost in aggregate.
I wonder what keynesians think about decreasing the money supply
I wonder what keynesians think about decreasing the money supply
That we are all doomed because of the deflation spiral!
That's a really clever idea, that makes bitcoins more valuable. So while the donator loses money, the rest of users profit from it, so nothing is lost in aggregate.
I wonder what keynesians think about decreasing the money supply
I wonder what keynesians think about decreasing the money supply
The bitcoins aren't really burned but it could be a positive thing for its value in the long term.
What do you mean they are not really burned?
The bitcoins aren't really burned but it could be a positive thing for its value in the long term.
They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
Yeah, why not something like this?
Yeah, it seems to be a simple method that is apolitical, however, in the POB scenario, people who hold more bitcoins would gain more benefit from that, so it doesn't go to everyone "equally", and definitely doesn't go to those with the most need, like it might if it had a different design. I have no well thought out alternative to present at the moment, though -- just discussing ideas.
How much POB are we talking about? First of all why would we entertain the idea of permanently removing BTC from the ecosystem? Today's change can be next decade's car (or for you bears that want to start a fight for no reason, it could also be next decade's trash).
That's the same argument Bitcoin detractors use against spending any Bitcoin ever. Why would you ever spend any BTC if it may be more valuable tomorrow? They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
Yeah, why not something like this?
They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
Yeah, why not something like this?
They will really be destructed:
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
https://blog.openbazaar.org/proof-of-burn-and-reputation-pledges/
I like the idea better of sending the coins to charity, and have a voting system on open bazaar to which charity the coins need to go.
Yeah, why not something like this?
I tried the Linux beta yesterday. It looks very promising, but there is not much going on yet.
Can I buy drugs and assassins here?
Strange selection of goods, but yes why not. I'd suggest sticking to light drugs though, heroin and assassins can be deadly.
How much POB are we talking about? First of all why would we entertain the idea of permanently removing BTC from the ecosystem? Today's change can be next decade's car (or for you bears that want to start a fight for no reason, it could also be next decade's trash).
Also I still don't understand how POB is necessary. I read it but ELI5 someone? Because I don't see why its necessary.
Also I still don't understand how POB is necessary. I read it but ELI5 someone? Because I don't see why its necessary.
POB address will be pegged to a reputation address. At some point, you don't want to screw your reputation address and start another one because your reputation also cost you money. It's not a fool proof system but it gives more incentives to play by the rules. Serious businesses also have an opportunity to build trust quicker.
How much POB are we talking about? First of all why would we entertain the idea of permanently removing BTC from the ecosystem? Today's change can be next decade's car (or for you bears that want to start a fight for no reason, it could also be next decade's trash).
Also I still don't understand how POB is necessary. I read it but ELI5 someone? Because I don't see why its necessary.
In what past? Bitcoin is the first cyrptocurrency. And if it happened to alt coins, that doesn't mean anything for bitcoin.
I get this except for the part where its undetermined how much would be burned. Then when the price changes, the value of the POB changes too. I could imagine someone burning 0.01 today and in ten years that pledge looks like a lot more (or less, for you bears but for this example bear with me). So what if someone pledged a lot of accounts or addresses, and in ten years used those accounts to scam people? Sure looked like they invested a lot
Also I still don't understand how POB is necessary. I read it but ELI5 someone? Because I don't see why its necessary.
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In the past, this has primarily been used to bootstrap one cryptocurrency from another.
In what past? Bitcoin is the first cyrptocurrency. And if it happened to alt coins, that doesn't mean anything for bitcoin.
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The act of burning coins shows the network that the user is committed to their identity because they’ve now expended resources on it, and if they incur a negative reputation then those resources will have gone to waste.
I get this except for the part where its undetermined how much would be burned. Then when the price changes, the value of the POB changes too. I could imagine someone burning 0.01 today and in ten years that pledge looks like a lot more (or less, for you bears but for this example bear with me). So what if someone pledged a lot of accounts or addresses, and in ten years used those accounts to scam people? Sure looked like they invested a lot
So is this the new SilkRoad?
Can I buy drugs and assassins here?
Can I buy drugs and assassins here?
Let's hope they will fork the code and create their own network.
If they use 1CounterpartyXXXXXXXXXXXXXXXUWLpVr as stated here: https://www.counterparty.co/why-proof-of-burn/ the first part could definitely just be a vanity address, but does the ending of UWLpVr to verify that it's a valid bitcoin address somehow make sure that its not just a vanity address starting with 1Counterparty?
OpenBazaar will be so damn beautiful if it delivers. I assume costs will be lower than Ebay. It could totally replace Ebay. I just hope they can make it usable.
In theory, it could replace ebay, amazon, craigs list, silkroad, and a million smaller regional clones of these. Besides being a first really international digital trading platform, it could also establish a trusted identity foundation for all other bitcoin peer-to-peer services like messaging, financial services, collaboration, gaming, whatever else - once you've built your reputation with money, it would be costly and time-consuming to replace it, so you would at least try to keep it clean. Purchasing an established account for nefarious purposes would be pretty impossible as you can not make the seller "forget" the PK, unless you can physically put him in a cage but that is a problem from another area of human relations
All in all, I have huge hopes for this.So is this the new SilkRoad?
No. This is the new Ebay, that, totally incidentally, may have no particular limits on what you can sell... 
So is this the new SilkRoad?
Can I buy drugs and assassins here?
Can I buy drugs and assassins here?
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