I highlighted the important part - with identical coins he was referring to coins with identical (public and private) keys.
I see, but that would not be Cassascius coins then
Now selling 10 BTC coins...Only 6 BTC each, free shipping
Topic: TED discussion - Bitcoin - Commerce without Borders (Read 7249 times)
I see, but that would not be Cassascius coins then
Now selling 10 BTC coins...Only 6 BTC each, free shipping
Quote
to your point: With Casascius coin you can have fractional reserve banking with the same risk. Imagine 10 identical coins in circulation you check the see it has value on the block chain before accepting it. But so does someone else accepting one of the other 10. After one person deposits it all the other coins instantly become useless.
This is incorrect right? How would redeeming the value on one coin invalidate the rest if they all have different keys?
I highlighted the important part - with identical coins he was referring to coins with identical (public and private) keys.
Nicely done. I was going to contribute there, but if Erik is on it, you already have all the help you might ever need :-)
Keep up posted on what happens.
Great writing by Erik, as usual. This is from the page, addressed to Erik:
Quote
to your point: With Casascius coin you can have fractional reserve banking with the same risk. Imagine 10 identical coins in circulation you check the see it has value on the block chain before accepting it. But so does someone else accepting one of the other 10. After one person deposits it all the other coins instantly become useless.
This is incorrect right? How would redeeming the value on one coin invalidate the rest if they all have different keys?
Nicely done. I was going to contribute there, but if Erik is on it, you already have all the help you might ever need :-)
Keep up posted on what happens.
It's coming to Ted:
https://plus.google.com/u/0/106907500056938408759/posts/2PQQLPYkdca
https://plus.google.com/u/0/106907500056938408759/posts/2PQQLPYkdca
...You can't deal with my infinite nature can you?
-asks me to explain some shit to him, tells me I'm not qualified.
XD
bravo!
-asks me to explain some shit to him, tells me I'm not qualified.
XD
bravo!
Yeah, complete win
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
The Android app satisfies that need for mobile users. Fully functional wallet is only about 30-40mb I think.
Bit-pay.com is leading the charge on merchant software. They just finished an OpenCart plugin and are working on subsequent plugins over the coming weeks.
Also, badass open source POS system here: http://www.youtube.com/watch?v=o84SfChQ-S8&feature=BFa&list=FLA5mKDEEJaTCScoGRe0IXZg&lf=mh_lolz
Bit-pay.com is leading the charge on merchant software. They just finished an OpenCart plugin and are working on subsequent plugins over the coming weeks.
Also, badass open source POS system here: http://www.youtube.com/watch?v=o84SfChQ-S8&feature=BFa&list=FLA5mKDEEJaTCScoGRe0IXZg&lf=mh_lolz
So we actually have all the building blocks, yet the main devs think it is premature to tell anyone about it. Strange situation. Sort of self-denial.
I mean, not only do we have all those thing evoorhees mentions, we even have a new client (bitcoin-qt) ready, but do we tell anyone about it? Of course not, end users could find it usable and we don't want to have more users!
If this attitude persists, well, then bitcoin deserves to be replaced by some shitcoin - while those devs release mostly buggy software, they at least release anything. And more importantly, they promote their product.
How about getting it working first? Like a client that doesn't take a day or three to download the whole block chain. Isn't there a client coming that doesn't need to download the entire block chain? I'm in no position to demand it, and I don't need it personally, but for someone new it can be offputting. Sure they can see their transaction in block explorer, but. . . .
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
Bingo. Premature promotion is exactly why bitcoin is in the negative position it's in right now in terms of both public opinion and exchange rate. It wasn't ready for all the attention it got and a lot of that attention was generated by bitcoin promoters mouthing off about how fantastic it is ("up, up, up", etc.).
I’m disappointed with the way things went ever since Bitcoin has gone parabolic, as it will take Bitcoin a very long time to recover any legitimacy in the eyes of the public, if it ever happens. This community certainly doesn’t help it.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
[/quote]
I agree. While we have made great strides in the last 6 months, more work needs to be done.
[/quote]
I agree. While we have made great strides in the last 6 months, more work needs to be done.
It is quite simply actually. Is Bitcoin a currency or an asset?
In theory it is a currency but in reality it is an asset. How much % of all Bitcoins are on Mtgox? 30%? I read a post on this forum a while back about mtgox moving 2 million BTC's. Take in account all the other exchanges, hoarders and lost BTC's and you will realize that that Bitcoin is an asset, seized by speculators. Maybe it will end up being a currency, I dont know, but at this moment it is not.
Also consider that there are a lot of people profiting from 'new' money being pumped into BTC's (and it are not merchants because they want a currency witout 10% daily swings) so Ted being sceptical towards BTC's is imo completely justified.
Start a talk about cryptocurrency's and whatever is perfect but BTC is at this moment more of a product, an asset, so dont be surprised if they consider it a sales pitch.
In theory it is a currency but in reality it is an asset. How much % of all Bitcoins are on Mtgox? 30%? I read a post on this forum a while back about mtgox moving 2 million BTC's. Take in account all the other exchanges, hoarders and lost BTC's and you will realize that that Bitcoin is an asset, seized by speculators. Maybe it will end up being a currency, I dont know, but at this moment it is not.
Also consider that there are a lot of people profiting from 'new' money being pumped into BTC's (and it are not merchants because they want a currency witout 10% daily swings) so Ted being sceptical towards BTC's is imo completely justified.
Start a talk about cryptocurrency's and whatever is perfect but BTC is at this moment more of a product, an asset, so dont be surprised if they consider it a sales pitch.
How about getting it working first? Like a client that doesn't take a day or three to download the whole block chain. Isn't there a client coming that doesn't need to download the entire block chain? I'm in no position to demand it, and I don't need it personally, but for someone new it can be offputting. Sure they can see their transaction in block explorer, but. . . .
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
At this point, we aren't really after end users. I mean sorta. We like it when they come along. In the long run, we need them. But the reason we cast our net today is because we are looking for the types of people that can help build the other stuff, and as the stuff gets built, the end users will show up.
This isn't really literal, of course. We aren't actually recruiting anyone. But we are telling anyone that wanders past that this thing is cool, and we are hoping that some will stay, and that some of those that stay will turn out to be builders.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
+1
How about getting it working first? Like a client that doesn't take a day or three to download the whole block chain. Isn't there a client coming that doesn't need to download the entire block chain? I'm in no position to demand it, and I don't need it personally, but for someone new it can be offputting. Sure they can see their transaction in block explorer, but. . . .
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
Bingo. Premature promotion is exactly why bitcoin is in the negative position it's in right now in terms of both public opinion and exchange rate. It wasn't ready for all the attention it got and a lot of that attention was generated by bitcoin promoters mouthing off about how fantastic it is ("up, up, up", etc.).
How about getting it working first? Like a client that doesn't take a day or three to download the whole block chain. Isn't there a client coming that doesn't need to download the entire block chain?
The Android app satisfies that need for mobile users. Fully functional wallet is only about 30-40mb I think.
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
Bit-pay.com is leading the charge on merchant software. They just finished an OpenCart plugin and are working on subsequent plugins over the coming weeks.
Also, badass open source POS system here: http://www.youtube.com/watch?v=o84SfChQ-S8&feature=BFa&list=FLA5mKDEEJaTCScoGRe0IXZg&lf=mh_lolz
How about getting it working first? Like a client that doesn't take a day or three to download the whole block chain. Isn't there a client coming that doesn't need to download the entire block chain? I'm in no position to demand it, and I don't need it personally, but for someone new it can be offputting. Sure they can see their transaction in block explorer, but. . . .
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
There is a huge amount of missing infrastructure, like merchant software etc etc etc.
I think it is very premature to try and promote heavily without more of the basic building blocks available to the average end-user or the average merchant. Sure some nerds and geeks can figure it out eventually, but so what?
If it was anything like this forum, it makes sense that they removed it.
+1
Talk about a double standard. This "discussion" is basically a commercial for Shell. We're not even a corperation.
http://www.ted.com/conversations/4228/a_conversation_with_shell_how.html
http://www.ted.com/conversations/4228/a_conversation_with_shell_how.html
Damn.
you guys can shit on TED all you want
I hope this wasn't because of me. There is some really interesting stuff that shows up in TED talks, and it can be a great way to get interesting new ideas, like bitcoin, out there and in front of a fairly big audience.
But it is also and at the same time, a support group for narcissists. That shouldn't surprise anyone, because it is essentially a generational evolution of the other big narcissism support group, TV news.
This is most easily seen by watching a few talks that are outside of your area of interest. Since you won't be focused on the subject, you'll be able to see the other clues more easily.
please dont ever compare bitcoin to atheism or the four horsemen of the apocalypse ever again
Well, I for one intend to do what I feel like doing. But perhaps it might be educational for you to understand that what I was comparing was two ideas, both of them controversial in some way or another, both engendering strong passions in both adherents and detractors, which nevertheless have resulted in two radically different outcomes when it comes to the TED conferences. In that sense, they are eminently comparable.
please dont ever compare bitcoin to atheism or the four horsemen of the apocalypse ever again
Jump to: