Topic: Reggie Middleton uses car analogy to explain that Bitcoin is not a bubble (Read 7315 times)
November 21, 2014, 11:13:17 AM
I have downloaded the ultracoin client and it looks pretty impressive. But my question is: are the trades protected from bitcoin price fluctuations? For example I short apple for 1 bitcoin ($350).At the expiration Apple has lost 15% so I get back 1.15 bitcoins? But if bitcoin price lost 20% in the meantime I only get back the equivalent of $322 making this trade a net loss in terms of usd?
November 21, 2014, 02:24:44 PM
you paid a million dollars for your car, now its worth a fraction of that. now you are stuck with a car you dont want and want to get rid of but you cant.
November 01, 2014, 02:43:07 PM
Do you realize the name UltraCoin is already in use?
https://bitcointalksearch.org/topic/ultracoin-est-feb-2014-asic-resistant-ultrafast-6-second-transactions-727023
https://bitcointalksearch.org/topic/ultracoin-est-feb-2014-asic-resistant-ultrafast-6-second-transactions-727023
Reggie, the name you chose has some blowback involved with it. The first problem is, it's already taken. The second problem is, I've been involved with coins such as Vertcoin and Ron Paul Coin myself, along with having been a relatively decent sized miner for a while. The launch of the original Ultracoin in the above link was considered to be one of the biggest scams/money grabs in altcoins. I'm not sure if you want that past reputation haunting the coin by choosing the same name.
You might get by unscathed since 99.9% of people on the planet have never heard of the original Ultracoin, but that coin still seems to be around and didn't die for some reason.
November 01, 2014, 01:17:23 PM
The UltraCoin value trading wallet is ready to go. Just download it here and you can see it work for yourself. Over 75,000 tickers available for trading. http://ultra-coin.com/index.php/download-beta
Thanks!
Still didn't get around to take a look.
Is there a writeup by now as to how ultracoin functions? I have many questions, like: how is ticker data injected? Is there really an ultracoin (is it mined at all) or how is settlement achieved?
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November 01, 2014, 01:10:23 PM
The UltraCoin value trading wallet is ready to go. Just download it here and you can see it work for yourself. Over 75,000 tickers available for trading. http://ultra-coin.com/index.php/download-beta
August 12, 2014, 02:05:59 AM
Only now I learn that The Reggie Middleton has joined this board. You are definitely on top of all major techno waves out there.
I admit I haven't tried Ultracoin yet but the question I keep asking myself is how real world assets are tied to the concept of Ultracoin. It's easy to exchange one electronic asset (e.g. a Litecoin) for some other electronic assets (e.g. Mooncoins). Lock the assets up and exchange. No trust needed, its all decentralised.
Now enter a USD / EUR swap. I cannot throw 100 dollars into Ultracoin through my CDROM tray. Even electronic dollars cannot be tied to Ultacoin just like that. The same goes for the Euro part of the swap transaction.
Will Ultracoin just tie these 2 promises together: promises to pay fiat?
Obviously, Ultracoin will not lock in the fiat dollars and euros. Can't be done with centralised systems for fiat currency. Presumably there is and will not be a 'central' point of trust being Reggie's wife's USD and EUR bank accounts to accommodate this swap.
So what remains: locking in the equivalent of USD and EUR in Bitcoins? Then, parties are just exchanging Bitcoins. And how to deal with Bitcoin variations in price in USD vs EUR
EUR) ?
I admit I haven't tried Ultracoin yet but the question I keep asking myself is how real world assets are tied to the concept of Ultracoin. It's easy to exchange one electronic asset (e.g. a Litecoin) for some other electronic assets (e.g. Mooncoins). Lock the assets up and exchange. No trust needed, its all decentralised.
Now enter a USD / EUR swap. I cannot throw 100 dollars into Ultracoin through my CDROM tray. Even electronic dollars cannot be tied to Ultacoin just like that. The same goes for the Euro part of the swap transaction.
Will Ultracoin just tie these 2 promises together: promises to pay fiat?
Obviously, Ultracoin will not lock in the fiat dollars and euros. Can't be done with centralised systems for fiat currency. Presumably there is and will not be a 'central' point of trust being Reggie's wife's USD and EUR bank accounts to accommodate this swap.
So what remains: locking in the equivalent of USD and EUR in Bitcoins? Then, parties are just exchanging Bitcoins. And how to deal with Bitcoin variations in price in USD vs EUR
EUR) ?
I'm not sure how it's done in ultracoin, but I'm guessing settlement and such is purely in crypto? Otherwise it'd not be 0-trust as advertised.
Maybe we can hook-in the Bitcoin blockchain so we can settle in something "established" (sorry, didn't take a look at ultracoin)
August 12, 2014, 01:47:03 AM
Reggie has a big fin market following but doesn't get much of a mention on here, a few of his threads have sunk. Don't know if the btc crowd are unfamiliar with his reputation and suspicious of newbie accounts or are overall not into his product, but I think an investor like Reggie is a big asset to the btc space.
I've been familiar with BoomBustBlog for a number of years. Reggie has a solid reputation with the mainstream markets - great analyst and communicator!
Glad to see he appreciates the BTC vision - notice he's not so excited about the price of the coins, but very excited about the protocol.
August 12, 2014, 12:45:24 AM
Can't believe this is the first time I've seen this video. Thanks for posting! Excellent analogy with the car, roads that go anywhere low fuel costs and not having tolls. Genius explanation, it's one of the best I've heard to date.
Reggie has a big fin market following but doesn't get much of a mention on here, a few of his threads have sunk. Don't know if the btc crowd are unfamiliar with his reputation and suspicious of newbie accounts or are overall not into his product, but I think an investor like Reggie is a big asset to the btc space.
August 11, 2014, 08:06:51 PM
Can't believe this is the first time I've seen this video. Thanks for posting! Excellent analogy with the car, roads that go anywhere low fuel costs and not having tolls. Genius explanation, it's one of the best I've heard to date.
August 11, 2014, 01:42:58 PM
The UltraCoin (pure bitcoin) smart contracts wallet is avialable for download now - http://ultra-coin.com/index.php/download-now
This is f'ng fantastic!
Reggie, way to go, man - the markets are so ready for this next step.
August 11, 2014, 12:32:51 PM
Only now I learn that The Reggie Middleton has joined this board. You are definitely on top of all major techno waves out there.
I admit I haven't tried Ultracoin yet but the question I keep asking myself is how real world assets are tied to the concept of Ultracoin. It's easy to exchange one electronic asset (e.g. a Litecoin) for some other electronic assets (e.g. Mooncoins). Lock the assets up and exchange. No trust needed, its all decentralised.
Now enter a USD / EUR swap. I cannot throw 100 dollars into Ultracoin through my CDROM tray. Even electronic dollars cannot be tied to Ultacoin just like that. The same goes for the Euro part of the swap transaction.
Will Ultracoin just tie these 2 promises together: promises to pay fiat?
Obviously, Ultracoin will not lock in the fiat dollars and euros. Can't be done with centralised systems for fiat currency. Presumably there is and will not be a 'central' point of trust being Reggie's wife's USD and EUR bank accounts to accommodate this swap.
So what remains: locking in the equivalent of USD and EUR in Bitcoins? Then, parties are just exchanging Bitcoins. And how to deal with Bitcoin variations in price in USD vs EUR
EUR) ?
I admit I haven't tried Ultracoin yet but the question I keep asking myself is how real world assets are tied to the concept of Ultracoin. It's easy to exchange one electronic asset (e.g. a Litecoin) for some other electronic assets (e.g. Mooncoins). Lock the assets up and exchange. No trust needed, its all decentralised.
Now enter a USD / EUR swap. I cannot throw 100 dollars into Ultracoin through my CDROM tray. Even electronic dollars cannot be tied to Ultacoin just like that. The same goes for the Euro part of the swap transaction.
Will Ultracoin just tie these 2 promises together: promises to pay fiat?
Obviously, Ultracoin will not lock in the fiat dollars and euros. Can't be done with centralised systems for fiat currency. Presumably there is and will not be a 'central' point of trust being Reggie's wife's USD and EUR bank accounts to accommodate this swap.
So what remains: locking in the equivalent of USD and EUR in Bitcoins? Then, parties are just exchanging Bitcoins. And how to deal with Bitcoin variations in price in USD vs EUR
EUR) ?
August 10, 2014, 09:05:08 PM
The UltraCoin (pure bitcoin) smart contracts wallet is avialable for download now - http://ultra-coin.com/index.php/download-now
really looks great so far. nice video. congrats!
August 10, 2014, 04:22:40 PM
Do you realize the name UltraCoin is already in use?
https://bitcointalksearch.org/topic/ultracoin-est-feb-2014-asic-resistant-ultrafast-6-second-transactions-727023
https://bitcointalksearch.org/topic/ultracoin-est-feb-2014-asic-resistant-ultrafast-6-second-transactions-727023
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Activity: 136
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UltraCoin "Smart" Derivatives: The Future of Money
August 10, 2014, 12:42:53 PM
The UltraCoin (pure bitcoin) smart contracts wallet is avialable for download now - http://ultra-coin.com/index.php/download-now
February 17, 2014, 05:30:17 PM
This could have a lot of potential depending on how well it is implemented. Refreshing to see a worthwhile thread amongst all the rubbish strewn around the speculation forum 
+1 it can be a pain having to sift through the threads looking for something deeper than Moon / $0.
I put up a thread to try and provide links to the classic threads over the years because I'd love to have them all in one place rather than trawling. And I enjoy reading the opinions of the early investors.
Didn't get much input, but here is the thread https://bitcointalksearch.org/topic/m.5174362
February 17, 2014, 11:38:26 AM
Interesting ideas.
All it takes is looking beyond a few buzz words and pre-conceived notions. Reggie can do it. Why is this so hard for people? Perhaps it is the loss of brain plasticity after youth. Or just that some have built a world on the old financial system and feel threatened by the massive changes happening now.
All it takes is looking beyond a few buzz words and pre-conceived notions. Reggie can do it. Why is this so hard for people? Perhaps it is the loss of brain plasticity after youth. Or just that some have built a world on the old financial system and feel threatened by the massive changes happening now.
February 17, 2014, 11:24:51 AM
This could have a lot of potential depending on how well it is implemented. Refreshing to see a worthwhile thread amongst all the rubbish strewn around the speculation forum
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February 17, 2014, 11:18:34 AM
Hi Reggie,
Have you heard about Bitshares? Do you plan to make Ultracoin only on top of Bitcoin or also on top of other blockchains?
I am asking that because it seems to me that with Bitshares there will be a lot more possibilities to do cool stuff with financial products than with Bitcoin.
Have you heard about Bitshares? Do you plan to make Ultracoin only on top of Bitcoin or also on top of other blockchains?
I am asking that because it seems to me that with Bitshares there will be a lot more possibilities to do cool stuff with financial products than with Bitcoin.
I am platform agnostic, but Bitcoin has the network effect thingy going for it as of now. I will use whatever platform/coin/blockchain that accomplishes my or my client's goals.
February 16, 2014, 05:57:41 PM
Are these contracts going to be represented by bitcoins on the satoshi level?
How will their relationship to derivatives be tracked? (in the text field or other added layer or will there need to be a clearing house that keeps track and thus primed for attack/abuse)
I am guessing Reggie is working on developing another layer onto the protocol that is like the text field but wonder these instruments need to be on the satoshi level so they do not get divided up or will it be so advanced that you could have a contract split up and then rejoined on this new protocol level...
How will their relationship to derivatives be tracked? (in the text field or other added layer or will there need to be a clearing house that keeps track and thus primed for attack/abuse)
I am guessing Reggie is working on developing another layer onto the protocol that is like the text field but wonder these instruments need to be on the satoshi level so they do not get divided up or will it be so advanced that you could have a contract split up and then rejoined on this new protocol level...
February 16, 2014, 05:28:12 PM
Hi Reggie,
Have you heard about Bitshares? Do you plan to make Ultracoin only on top of Bitcoin or also on top of other blockchains?
I am asking that because it seems to me that with Bitshares there will be a lot more possibilities to do cool stuff with financial products than with Bitcoin.
Have you heard about Bitshares? Do you plan to make Ultracoin only on top of Bitcoin or also on top of other blockchains?
I am asking that because it seems to me that with Bitshares there will be a lot more possibilities to do cool stuff with financial products than with Bitcoin.
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