Topic: [UNO] Unobtanium Info & Discussion - Hardfork block 1042000 - Merge Mine w/BTC! - page 163. (Read 1047085 times)
April 22, 2016, 09:22:31 AM
Damn...Now any half second somebody or bot pushing the price down with kilo to 20kilos size sells
April 22, 2016, 05:53:19 AM
April 22, 2016, 02:16:48 AM
Ooh, Coinomi does like nice.
Good to hear that they're adding UNO.
Only 4% of the coins listed on Coinmarketcap are hosted by Coinomi. Similarly with other services like shapeshift, cryptopia base pairs, etc.; the experts know where UNO stands.
Good to hear that they're adding UNO.
Only 4% of the coins listed on Coinmarketcap are hosted by Coinomi. Similarly with other services like shapeshift, cryptopia base pairs, etc.; the experts know where UNO stands.
April 22, 2016, 02:09:10 AM
Good move Gekko.
Crypto.id just has it flagged wrong, the entire Bittrex wallet is flagged that way currently. You can see that it's still the same 15,077 in the Bittrex Distribution chart.
Crypto.id just has it flagged wrong, the entire Bittrex wallet is flagged that way currently. You can see that it's still the same 15,077 in the Bittrex Distribution chart.
April 21, 2016, 09:22:31 PM
looks to me like someone just faked 750Un of volume at trex. i noticed the huge sell orders placed at 0049, checked back in a few minutes and they were bought...
now someone's trying to run it up further, it looks
now someone's trying to run it up further, it looks
Gee, that's curious. I woke up this morning and saw 750kgs sitting there at .0049 too. They were up there for a while. Took 20 minutes to move 4 BTC onto Bittrex.
The minute the BTC arrived, I bought them. All of them. In one fell swoop because, maybe someone was just planning to fake it and I had a great opportunity to lower my average cost a few more points and take a sweet steaming piss in that guy's corn flakes at the same time!
Then I bought a few more and stuck some buy support on the bid.
Can we get a bit more support on that bid guys? A .006 would be sweet.
Who's feeling bullish today?
https://chainz.cryptoid.info/uno/block.dws?766762.htm
Now, strange thing is that although I bought on Bittrex, these wallets where my 800kg transfer home today are marked "Cryptsy Cold Wallet". Should this be flagged? Did I buy stolen UNO?
April 21, 2016, 07:36:46 PM
looks to me like someone just faked 750Un of volume at trex. i noticed the huge sell orders placed at 0049, checked back in a few minutes and they were bought...
now someone's trying to run it up further, it looks
now someone's trying to run it up further, it looks
April 21, 2016, 11:30:28 AM
Hello Ed,
I think we will add UNO in the next release, for the rest (CBX & DMD) I don't know yet but eventually they will be supported. If somebody makes a pull request we will add it, alternatively if you are looking somebody to do it for you send a message to [email protected].
Sincerely,
John L. Jegutanis
CTO of Coinomi
e2a - The Commit for IXCoin to be added to coinomi is done and a pull request has been made. Now its just a case of coinomi team accepting it and testing it.
Link to pull request is here: https://github.com/Coinomi/coinomi-android/pull/90
perhaps someone with a bit of know-how can take a look at whats been done
I think we will add UNO in the next release, for the rest (CBX & DMD) I don't know yet but eventually they will be supported. If somebody makes a pull request we will add it, alternatively if you are looking somebody to do it for you send a message to [email protected].
Sincerely,
John L. Jegutanis
CTO of Coinomi
e2a - The Commit for IXCoin to be added to coinomi is done and a pull request has been made. Now its just a case of coinomi team accepting it and testing it.
Link to pull request is here: https://github.com/Coinomi/coinomi-android/pull/90
perhaps someone with a bit of know-how can take a look at whats been done
Coinomi is a golden opportunity.
Let's make it happen.
https://coinomi.com/
----
Shapeshift’s forensic auditor, Ledger Labs, is preparing a report of the technical findings of the incidents in which about $230,000 was lost from three hacks within a month.
https://www.cryptocoinsnews.com/bitcoin-exchange-shapeshift-hacks-sees-230000-lost/
April 21, 2016, 10:33:21 AM
Hello Ed,
I think we will add UNO in the next release, for the rest (CBX & DMD) I don't know yet but eventually they will be supported. If somebody makes a pull request we will add it, alternatively if you are looking somebody to do it for you send a message to [email protected].
Sincerely,
John L. Jegutanis
CTO of Coinomi
e2a - The Commit for IXCoin to be added to coinomi is done and a pull request has been made. Now its just a case of coinomi team accepting it and testing it.
Link to pull request is here: https://github.com/Coinomi/coinomi-android/pull/90
perhaps someone with a bit of know-how can take a look at whats been done
I think we will add UNO in the next release, for the rest (CBX & DMD) I don't know yet but eventually they will be supported. If somebody makes a pull request we will add it, alternatively if you are looking somebody to do it for you send a message to [email protected].
Sincerely,
John L. Jegutanis
CTO of Coinomi
e2a - The Commit for IXCoin to be added to coinomi is done and a pull request has been made. Now its just a case of coinomi team accepting it and testing it.
Link to pull request is here: https://github.com/Coinomi/coinomi-android/pull/90
perhaps someone with a bit of know-how can take a look at whats been done
April 20, 2016, 07:15:35 PM
Just a reminder to check out all of the cool UNO toys that Cryptapus has for you at https://cryptap.us/uno
loose dice games, jsWallet, Vanity UNO addresses, a plethora of block explorers, paper wallets, pushTx, Uno faucet, Electrum for UNO and more.
Thanks for all you do, Cryptapus.
Also, check the OP and Unobtanium.uno to remind yourself about all of the good things that UNO has going for it.
There are nearly 200 UNO markets at Cryptopia.co.nz Trade your favorite coin with UNO. There are 7 other exchanges with UNO.
Merge Mine UNO with Bitcoin at mmpool.org, zpool.ca and multipool.us
Websites can accept UNO with Coinpayments.net
Lots of nodes, services and a great community. UNO is going to have a great year.
loose dice games, jsWallet, Vanity UNO addresses, a plethora of block explorers, paper wallets, pushTx, Uno faucet, Electrum for UNO and more.
Thanks for all you do, Cryptapus.
Also, check the OP and Unobtanium.uno to remind yourself about all of the good things that UNO has going for it.
There are nearly 200 UNO markets at Cryptopia.co.nz Trade your favorite coin with UNO. There are 7 other exchanges with UNO.
Merge Mine UNO with Bitcoin at mmpool.org, zpool.ca and multipool.us
Websites can accept UNO with Coinpayments.net
Lots of nodes, services and a great community. UNO is going to have a great year.
April 20, 2016, 02:04:24 PM
UNO market is spooked, some.
But it is 99.99% general market forces ... btc halving ... will it moon? ... no. comment. ... i have a good feel for alts, but am horrible with btc ... but 30Day chart for BTC has been bully ... so lots of folks jumping on that train ... lolz ... UNO will always be the counter weight to BTC ... i'd say UNO makes a good hedge in situations like now
---
STV is kinda a sleeper in the 420 group, it doesn't get much notice, but seems to have stronghands holding, a good POS network, and lots of market placement for such a relatively small cap ... if anyone wants to dabble a few bucks into POS with lots of upside potential ... sativa is a good pick.
But it is 99.99% general market forces ... btc halving ... will it moon? ... no. comment. ... i have a good feel for alts, but am horrible with btc ... but 30Day chart for BTC has been bully ... so lots of folks jumping on that train ... lolz ... UNO will always be the counter weight to BTC ... i'd say UNO makes a good hedge in situations like now
---
STV is kinda a sleeper in the 420 group, it doesn't get much notice, but seems to have stronghands holding, a good POS network, and lots of market placement for such a relatively small cap ... if anyone wants to dabble a few bucks into POS with lots of upside potential ... sativa is a good pick.
April 20, 2016, 01:57:31 PM
Happy 4/20 Unobtanium community!!! 
Trade the Sativacoin/Unobtanium pair today! https://www.cryptopia.co.nz/Exchange?market=STV_UNO
Congrats to Sativacoin on being added to Coinpayments.net today.Trade the Sativacoin/Unobtanium pair today! https://www.cryptopia.co.nz/Exchange?market=STV_UNO
Glad to see a STV/UNO market on Cryptopia. I'll be sure to give it a tweet today.
April 20, 2016, 11:33:34 AM
I think this is all part of the longterm flow of uno from those who can't hold or secure them properly to those who can. It's evolution.
I for one am betting on the 15k to be remain frozen for another while but will also be able to adjust if/when they come to market directly. I think that strategy could work out.
I for one am betting on the 15k to be remain frozen for another while but will also be able to adjust if/when they come to market directly. I think that strategy could work out.
April 20, 2016, 02:53:46 AM
Happy 4/20 Unobtanium community!!!
Trade the Sativacoin/Unobtanium pair today! https://www.cryptopia.co.nz/Exchange?market=STV_UNO
Trade the Sativacoin/Unobtanium pair today! https://www.cryptopia.co.nz/Exchange?market=STV_UNO
April 19, 2016, 11:25:20 PM
The community is due some quid quo pro on the matter. So yes, lines of communication, keep them open. Likely will be years before the auction, so we can help find the most reasonable way of making sure fair market value is met. Cryptospace is dynamic, what is the best way to go about it will likely change every several months. My best suggest is to set aside some funds earmarked for the event, and see if we can't pool it to compete should it be sold off in large chunks.
April 19, 2016, 10:28:52 PM
If it is decided that the UNO will be auctioned off, it is important that we monitor & possibly intervene in the situation.
If it's auctioned off in person in one chunk we either need to ensure that a community member is there or discuss with the receiver the possibility of the coins being distributed by an ICO-like sale at Bittrex.
I don't want some random dude in Florida getting 7.5% of our supply at 40% of market value. I may be wrong, but I think a week-long or month-long crowd-sale on Bittrex could earn a reasonably fair price.
I know that any redistribution could be months or years away, but since F.K. has established some credibility & lines of communication with the court-appointed receiver & Bittrex, let's try to use that to ensure that no other ridiculous decisions are made with those funds.
Maybe a Bittrex-hosted crowd-sale would be out of the question if the government doesn't want the funds coming from pseudonymous or anonymous individuals. If that's the case we should still monitor how things progress.
If it's auctioned off in person in one chunk we either need to ensure that a community member is there or discuss with the receiver the possibility of the coins being distributed by an ICO-like sale at Bittrex.
I don't want some random dude in Florida getting 7.5% of our supply at 40% of market value. I may be wrong, but I think a week-long or month-long crowd-sale on Bittrex could earn a reasonably fair price.
I know that any redistribution could be months or years away, but since F.K. has established some credibility & lines of communication with the court-appointed receiver & Bittrex, let's try to use that to ensure that no other ridiculous decisions are made with those funds.
Maybe a Bittrex-hosted crowd-sale would be out of the question if the government doesn't want the funds coming from pseudonymous or anonymous individuals. If that's the case we should still monitor how things progress.
April 19, 2016, 08:10:50 PM
I think there's a feeling the other shoe might drop. In other words, we've seen the big wallet move, we know where it went, we warned the people from whom it was stolen, and we notified the people to whom it was sent. The Cryptsy conservator asked for help after Bittrex said, "prove it." We provided a ton of documentation and even offered up some people willing to go on record to prove that they had withdrawn from the Cryptsy wallet. I said yes when they asked if I would be willing to talk with Bittrex on a conference call.
I think this community has done everything we have been asked to do recapture that stolen UNO, and a lot more.
I have not yet received any confirmation that they have control of the wallet. I am making a couple of logical assumptions now:
First, its less risky for Bittrex to cooperate with the court, or to simply do nothing until ordered to act. Either way, the UNO remains locked up at Bittrex, because thats the safe thing for them to do. Second, it seems that they have reached some understanding with Bittrex, because if they had not, we would be their last chance and we would have been asked to continue assisting.
If were a betting person (and I am) I would put my money on that 15k UNO sitting at Bittrex for a long time.
So what will happen to that big UNO wallet, now at Bittrex? I asked that question in my last call with the Cryptsy conservator. The answer was, "possibly a couple of things."
It might be sold on the market, but when I pointed out that the market was rather shallow and that "dumping" could be disruptive, he said that the court would not want to disrupt the market. They would probably auction the UNO offline, as Gekko had suggested they might months ago.
We don't know exactly how the UNO will be liquidated, or how much will be liquidated by the court if the UNO is able to be returned to the owners. Return of UNO to owners is still a big question mark, I'm sorry to say.
I think the spectre of all this just sort of hangs there, is depressing the marketing and providing a buy opportunity.
---
A while back, an idea was posited about the UNO community making an offer for that wallet. The idea being, purchasing the UNO at below market price, buyers get their money out at market price, with the remainder to fund a UNO Foundation. Again, I hope this doesn't all happen on the backs of people who lost UNO at Cryptsy, but we don't have any control over that, sadly. so it might be a good idea to talk this out further. We should be ready with a plan just in case.
If someone needed to unload 15K UNO right this minute, considering an average price of the current market depth, what would you offer him/her as a fair price not to dump it to zero? I have not done the math yet, but I would think a minimum bid of $1 would be a deal for both of us under that situation. Unless they have the patience to work 15K uno into the market over 6 months, I don't think they would do better than $1 if it all had to be settled up today.
---
I had a dream last night that I was asked to testify at Big Vern at his criminal trial on behalf of the UNO community. Best dream I ever had, sorry to say.
I think this community has done everything we have been asked to do recapture that stolen UNO, and a lot more.
I have not yet received any confirmation that they have control of the wallet. I am making a couple of logical assumptions now:
First, its less risky for Bittrex to cooperate with the court, or to simply do nothing until ordered to act. Either way, the UNO remains locked up at Bittrex, because thats the safe thing for them to do. Second, it seems that they have reached some understanding with Bittrex, because if they had not, we would be their last chance and we would have been asked to continue assisting.
If were a betting person (and I am) I would put my money on that 15k UNO sitting at Bittrex for a long time.
So what will happen to that big UNO wallet, now at Bittrex? I asked that question in my last call with the Cryptsy conservator. The answer was, "possibly a couple of things."
It might be sold on the market, but when I pointed out that the market was rather shallow and that "dumping" could be disruptive, he said that the court would not want to disrupt the market. They would probably auction the UNO offline, as Gekko had suggested they might months ago.
We don't know exactly how the UNO will be liquidated, or how much will be liquidated by the court if the UNO is able to be returned to the owners. Return of UNO to owners is still a big question mark, I'm sorry to say.
I think the spectre of all this just sort of hangs there, is depressing the marketing and providing a buy opportunity.
---
A while back, an idea was posited about the UNO community making an offer for that wallet. The idea being, purchasing the UNO at below market price, buyers get their money out at market price, with the remainder to fund a UNO Foundation. Again, I hope this doesn't all happen on the backs of people who lost UNO at Cryptsy, but we don't have any control over that, sadly. so it might be a good idea to talk this out further. We should be ready with a plan just in case.
If someone needed to unload 15K UNO right this minute, considering an average price of the current market depth, what would you offer him/her as a fair price not to dump it to zero? I have not done the math yet, but I would think a minimum bid of $1 would be a deal for both of us under that situation. Unless they have the patience to work 15K uno into the market over 6 months, I don't think they would do better than $1 if it all had to be settled up today.
---
I had a dream last night that I was asked to testify at Big Vern at his criminal trial on behalf of the UNO community. Best dream I ever had, sorry to say.
April 19, 2016, 01:40:16 PM
I agree it feels heavy. I was expecting a bit of bear mkt after that pump, but seems like some very chunky sell orders came in really low, really fast.
April 19, 2016, 11:30:40 AM
So, the IO thing.
Did anything other than ETH and whatnot "popular" coins get taken?
I'm feeling weird "weight" at prices too low to jive with about what I "get" about most people here's average price.
There is some low selling I am not entirely feeling like I understand where it is coming from.
Missing IO? Anyone? Bueller? Bueller?
Anybody else? Or am I tripping? It's "heavy". Best I can explain.
Did anything other than ETH and whatnot "popular" coins get taken?
I'm feeling weird "weight" at prices too low to jive with about what I "get" about most people here's average price.
There is some low selling I am not entirely feeling like I understand where it is coming from.
Missing IO? Anyone? Bueller? Bueller?
Anybody else? Or am I tripping? It's "heavy". Best I can explain.
April 18, 2016, 12:29:52 AM
$UNO
trade the market but the coin you take home is UNO
----
Jeff Garzik: Sidechains a Better Bitcoin Scaling Solution Than Lightning Network
http://coinjournal.net/jeff-garzik-sidechains-better-bitcoin-scaling-solution-lightning-network/
Garzik = http://bloq.com/
IMO unobtanium is a working time tested bitcoin side chain. (i know technically not a side chain but merge mine tech)
IMO ... in time ... uno can market itself as a bitcoin side chain.
IMO ... no one outside of the realm of devs/programmers cares about the formal technically definition ... to the general public bitcoin side chains would be the ledgers attached to the bitcoin network (aka MM).
My understanding of The Lightning NetworkTM:
-6 of the biggest baddest exchanges
-big money & suits & lawyers
-cartel (but don't tell anyone)
-everyone will use it because we called it The Lightning NetworkTM
-now deposit all your BTC on a Cartel Exchange so you can send Lightning fast!
"With sidechains, altcoins are obsolete" ... oh i get it now ... all this fancy complicated confusing talk about some vaporware drivechain sidechain Lightning network ... boils down to jealousy and greed ... BTC Maximilst.
UNO can be a sidechain, in fact any alt can be a sidechain. And it is less about code wizardry, and more classical escrow/trustee business. The solution is so simple even i can figure this one out
Imagine thus:
-there is this company call "UNO'r'us"
-you send them 1 bitcoin and they send you 100kg of UNO
-now you can send TX faster and cheaper than BTC ... great! ... but what about my precious bitcoin??
-well part of the deal is proving you are you ... simple signature
-the other part of the deal is if you (and only you) send "UNO'r'us" 100kg of UNO then you will get 1 bitcoin in return
Is this so complex?
Yes. Still not a perfectly pegged product because a 3rd party will not honor the value.
So with some blockchain tech tracking "UNO'r'us" would pay anyone 1 bitcoin for the original 100kg UN.
Is this practical?
No. But very possible that "UNO'r'us" could write a specialized wallet client. It streamlines a chain within a chain to make it user friendly. "UNO'r'us" sets a daily peg rate so it is not fixed and can adjust to the approximate freemarket.
And in reality?
People want simple. And a less cartel like version of the The Lightning Network is already in use. Any exchange and online wallet company can move value off chain, and it is just a matter of public adoption and inter-exchange co-op. But that is still just trusting someone else with your bitcoin/privkey.
Another version of "UNO'r'us" ...
Very easy, Very practical. You send 1 bitcoin "UNO'r'us" and they send you say 80% that value in kg uno. So you have and hold a digital asset, i think that is called collateral? Now "UNO'r'us" runs a niffy online wallet service an you have 1 bitcoin of 'credit' and can send just as fast as the internet carries bits and you would pay "BoB's Bacon Shop" not some confusing bitcoin address. If "UNO'r'us" goes BigVern on you then you have their UNOs to sell and get back some/all/more of your bitcoin (freemarket). If you decide to screw "UNO'r'us" well they can sell your BTC and buy more UNOs. If both are good and trustworthy the deal can be reversed by just sending the coins back.
TLDR;
i am ranting about "sidechains" jargon. UNO ought just claim to be a sidechain of BTC. Because ETH, LTC, NXT, LISK, and all the other majors are going to use the term "sidechains" as part of their ecosystem.
update:
Greg Maxwell: Lightning Network Better Than Sidechains for Scaling Bitcoin
Garzik : No.
https://bitcoinmagazine.com/articles/greg-maxwell-lightning-network-better-than-sidechains-for-scaling-bitcoin-1461077424
“Our greatest motivation for the sidechain concept in Bitcoin was being able to better satisfy mutually exclusive objectives for the system. However, sidechains by themselves do not fundamentally change the scaling limitations of a global broadcast system, though they should provide security partitioning if an experimental chain should fail.”
Tuur Demeester: Veteran Dev. John Ratcliff on scalability: "Since LN is merely a mechanism for exchanging signed contracts, this means you can exchange contracts across multiple sidechains. Sidechains + LN to hyperlink them together is the killer scaling combination!"
trade the market but the coin you take home is UNO
----
Jeff Garzik: Sidechains a Better Bitcoin Scaling Solution Than Lightning Network
http://coinjournal.net/jeff-garzik-sidechains-better-bitcoin-scaling-solution-lightning-network/
Quote
“It might be a sidechain that is a far, far better solution than [the Lightning Network].”
Quote
“The economics are still very, very open to question — whether you’re going to want to commit BTC simply to have access to instant payments . . . not everyone can even afford that.”
Quote
“I think that [sidechains are] a better solution, but all the things I just said about Lightning apply to sidechains as well. It’s an immature, unknown technology that hasn’t been rolled out into production, so you don’t want to bet the universe on one particular direction — even the direction I think is the best.”
Garzik = http://bloq.com/
IMO unobtanium is a working time tested bitcoin side chain. (i know technically not a side chain but merge mine tech)
IMO ... in time ... uno can market itself as a bitcoin side chain.
IMO ... no one outside of the realm of devs/programmers cares about the formal technically definition ... to the general public bitcoin side chains would be the ledgers attached to the bitcoin network (aka MM).
My understanding of The Lightning NetworkTM:
-6 of the biggest baddest exchanges
-big money & suits & lawyers
-cartel (but don't tell anyone)
-everyone will use it because we called it The Lightning NetworkTM
-now deposit all your BTC on a Cartel Exchange so you can send Lightning fast!
Quote
Here’s the Sidechains insight
The key idea behind the sidechains concept is:
What if you could send Bitcoins not only to individuals, addresses and centralized services but to other blockchains? https://gendal.me/2014/10/26/a-simple-explanation-of-bitcoin-sidechains/
The key idea behind the sidechains concept is:
What if you could send Bitcoins not only to individuals, addresses and centralized services but to other blockchains? https://gendal.me/2014/10/26/a-simple-explanation-of-bitcoin-sidechains/
Quote
The sidechains ideas is this:
Send your Bitcoins to a specially formed Bitcoin address. The address is specially designed so that the coins will now be out of your control… and out of the control of anybody else either. They’re completely immobilized and can only be unlocked if somebody can prove they’re no longer being used elsewhere (I’ll explain what I mean by this in a minute). In other words, you’ve used the core bitcoin transaction rules I described above to lay down a specific condition that the future owner – whoever it ends up being – needs to fulfil in order to take control
Once this immobilisation transaction is sufficiently confirmed, you send a message to the other blockchain – the one you were wanting to use. This message contains a proof that the coins were sent to that special address on the Bitcoin network, that they are therefore now immobilized and, crucially, that you were the one who did it
If the second blockchain has agreed to be a Bitcoin sidechain, it now does something really special… it creates the exact same number of tokens on its own network and gives you control of them.
So it’s as if your Bitcoins have been transferred to this second chain. And remember: they’re immobilized on the Bitcoin network… so we haven’t created or destroyed any…. Just “moved” them.
You can now transact with those coins on that second chain, under whatever rules that chain chooses to implement.
Perhaps blocks are created faster on that sidechain. Perhaps transaction scripts are “turing complete”. Perhaps you have to pay fees to incent those securing that sidechain. Who knows. The rules can be whatever those running that sidechain want them to be. The only rule that matters is that the sidechain agrees to follow the convention that if you can prove you put some Bitcoins out of reach on the Bitcoin network, the same number will pop into existence on the sidechain.
And now for the second clever part. The logic above is symmetric. So, at any point, whoever is holding these coins on the sidechain can send them back to the Bitcoin network by creating a special transaction on the sidechain that immobilises the bitcoins on the sidechain. They’ll disappear from the sidechain and become available again on the Bitcoin network, under the control of whoever last owned them on the sidechain.
Send your Bitcoins to a specially formed Bitcoin address. The address is specially designed so that the coins will now be out of your control… and out of the control of anybody else either. They’re completely immobilized and can only be unlocked if somebody can prove they’re no longer being used elsewhere (I’ll explain what I mean by this in a minute). In other words, you’ve used the core bitcoin transaction rules I described above to lay down a specific condition that the future owner – whoever it ends up being – needs to fulfil in order to take control
Once this immobilisation transaction is sufficiently confirmed, you send a message to the other blockchain – the one you were wanting to use. This message contains a proof that the coins were sent to that special address on the Bitcoin network, that they are therefore now immobilized and, crucially, that you were the one who did it
If the second blockchain has agreed to be a Bitcoin sidechain, it now does something really special… it creates the exact same number of tokens on its own network and gives you control of them.
So it’s as if your Bitcoins have been transferred to this second chain. And remember: they’re immobilized on the Bitcoin network… so we haven’t created or destroyed any…. Just “moved” them.
You can now transact with those coins on that second chain, under whatever rules that chain chooses to implement.
Perhaps blocks are created faster on that sidechain. Perhaps transaction scripts are “turing complete”. Perhaps you have to pay fees to incent those securing that sidechain. Who knows. The rules can be whatever those running that sidechain want them to be. The only rule that matters is that the sidechain agrees to follow the convention that if you can prove you put some Bitcoins out of reach on the Bitcoin network, the same number will pop into existence on the sidechain.
And now for the second clever part. The logic above is symmetric. So, at any point, whoever is holding these coins on the sidechain can send them back to the Bitcoin network by creating a special transaction on the sidechain that immobilises the bitcoins on the sidechain. They’ll disappear from the sidechain and become available again on the Bitcoin network, under the control of whoever last owned them on the sidechain.
Quote
Drivechain - The Simple Two Way Peg
With sidechains, altcoins are obsolete, Bitcoin smart contracts are possible, Bitcoin Core and BitcoinXT can coexist, and all hard forks can become soft forks. Cool upgrades to Bitcoin are on the way!
http://www.truthcoin.info/blog/drivechain/
With sidechains, altcoins are obsolete, Bitcoin smart contracts are possible, Bitcoin Core and BitcoinXT can coexist, and all hard forks can become soft forks. Cool upgrades to Bitcoin are on the way!
http://www.truthcoin.info/blog/drivechain/
"With sidechains, altcoins are obsolete" ... oh i get it now ... all this fancy complicated confusing talk about some vaporware drivechain sidechain Lightning network ... boils down to jealousy and greed ... BTC Maximilst.
UNO can be a sidechain, in fact any alt can be a sidechain. And it is less about code wizardry, and more classical escrow/trustee business. The solution is so simple even i can figure this one out
Imagine thus:
-there is this company call "UNO'r'us"
-you send them 1 bitcoin and they send you 100kg of UNO
-now you can send TX faster and cheaper than BTC ... great! ... but what about my precious bitcoin??
-well part of the deal is proving you are you ... simple signature
-the other part of the deal is if you (and only you) send "UNO'r'us" 100kg of UNO then you will get 1 bitcoin in return
Is this so complex?
Yes. Still not a perfectly pegged product because a 3rd party will not honor the value.
So with some blockchain tech tracking "UNO'r'us" would pay anyone 1 bitcoin for the original 100kg UN.
Is this practical?
No. But very possible that "UNO'r'us" could write a specialized wallet client. It streamlines a chain within a chain to make it user friendly. "UNO'r'us" sets a daily peg rate so it is not fixed and can adjust to the approximate freemarket.
And in reality?
People want simple. And a less cartel like version of the The Lightning Network is already in use. Any exchange and online wallet company can move value off chain, and it is just a matter of public adoption and inter-exchange co-op. But that is still just trusting someone else with your bitcoin/privkey.
Another version of "UNO'r'us" ...
Very easy, Very practical. You send 1 bitcoin "UNO'r'us" and they send you say 80% that value in kg uno. So you have and hold a digital asset, i think that is called collateral? Now "UNO'r'us" runs a niffy online wallet service an you have 1 bitcoin of 'credit' and can send just as fast as the internet carries bits and you would pay "BoB's Bacon Shop" not some confusing bitcoin address. If "UNO'r'us" goes BigVern on you then you have their UNOs to sell and get back some/all/more of your bitcoin (freemarket). If you decide to screw "UNO'r'us" well they can sell your BTC and buy more UNOs. If both are good and trustworthy the deal can be reversed by just sending the coins back.
TLDR;
i am ranting about "sidechains" jargon. UNO ought just claim to be a sidechain of BTC. Because ETH, LTC, NXT, LISK, and all the other majors are going to use the term "sidechains" as part of their ecosystem.
update:
Greg Maxwell: Lightning Network Better Than Sidechains for Scaling Bitcoin
Garzik : No.
https://bitcoinmagazine.com/articles/greg-maxwell-lightning-network-better-than-sidechains-for-scaling-bitcoin-1461077424
“Our greatest motivation for the sidechain concept in Bitcoin was being able to better satisfy mutually exclusive objectives for the system. However, sidechains by themselves do not fundamentally change the scaling limitations of a global broadcast system, though they should provide security partitioning if an experimental chain should fail.”
Tuur Demeester: Veteran Dev. John Ratcliff on scalability: "Since LN is merely a mechanism for exchanging signed contracts, this means you can exchange contracts across multiple sidechains. Sidechains + LN to hyperlink them together is the killer scaling combination!"
April 17, 2016, 06:24:35 PM
@NatMcCoy
word. trace the withdraws just in case.
@Safecex
reach out to us. if you need to roll back to beta mode, no worries. like the concept thus far.
@eThought
feel free to speak your mind. we are appreciative in these parts.
word. trace the withdraws just in case.
@Safecex
reach out to us. if you need to roll back to beta mode, no worries. like the concept thus far.
@eThought
feel free to speak your mind. we are appreciative in these parts.
Thanks for discovering the new UNO faucent, Mr. Legendary. I added it to the OP. Current UNO faucets:
http://cryptap.us/uno/faucet
http://uno.bleufaucet.com/
http://explorer.coinpayments.net/faucet.php?chain=19
Safecex -- I LOVE the anonymous instant exchange. Come back soon. You too, Shapeshift.io. Miss you.
Did I miss a eThought post?? Those are some of my favorites. I am on https://www.coinexchange.io/market/UNO/BTC because what it brings to UNO that's new is a an exchange operated by a long time trusted community member, who I want to support. I did not see a post from him tho.
My God, look at all of the service provider & exchange partners that UNO has had over the years. They come, they go. UNO is the constant. We are here nearly 3 years after launch. We will be here in 2019, 6 years after launch. If you are building something, include UNO. We are stable. We are here. We are small, strange and unusual but we are fucking tough and long term. Build with us.
I am UNO. We are UNO. We love many cryptocurrencies, but none more than than UNO. This is the base coin we return to and keep alive while others momentarily thrive then die. As cryptocurrency investors/enthusiasts/hackers/hobbiests, we coalesce around UNO. This is where we make our stand.
Add UNO to your project. exchange. service.
It may not be the top coin in market value, but it is here long term. It may momentarily pale to other cryptos, but you know UNO will be here long term. It is a recognizable constant brand in cryptocurrency.
There is room in this world of 7.21 billion people for one rare/fair/low inflation cryptocurrency. UNO is it.
We have doged many bullets, and will dodge many more.
We are Unobtanium.
We are not Bitcoin, Ether, Litecoin, Dogecoin, or Lucky7Coin. We are something else.
Bring it home to $UNO
[Most important/interesting post of 2014, https://bitcointalk.org/index.php?topic=527500.msg8877122;topicseen#msg8877122 ]
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