...
Hey so I see you saying a lot of things that you seriously make up as you go. Do you enjoy arguing with people or do you have a genuine interest in making the world better?
To say "this coin doesn't bring new things to the table" to me is one of the most absurd things you could possibly say (no offense). I have busted my ass, blood sweat and tears to work on BitHalo and was then hired and propagandized on BitBay just to bring the world double deposit escrow, unbreakable contracts.
The problem with society that I have repeated like a broken record, and will continue until the worlds ears bleed, is that third parties are the problem... middle men are the problem. This software, which has taken me about 3+ years to develop ALONE (I would fucking love you to show me another project who has a dev to claim this) was all done to bring unbreakable contracts to the world to people like you.
Double deposit escrow is arguably more disruptive than Bitcoin. The theory being that both parties invest a deposit into a joint account and thus there is an enforcement layer and a deterrent if you will that forces the assailant to face his victim and lose funds if he deceives the counter party. The theory is to bring honest people above deceptive ones in society. When I first thought about this, I was so excited I taught myself Python from scratch and built this shit. So to tell me and others who see the value in it that this doesn't bring something to the table is utter bullshit.
Unbreakable double deposit contracts are the ONLY way to do peer to peer trustless cash deals since arbiters cannot possibly know or enforce international cash deals. This means a peer to peer cash gateway in BitBay and BitHalo respectively. That is so signifigant its mind blowing. Also, the contracts and markets being anonymous cannot be shut down even if I "die" so to speak. The source code is open and someone can pick up the torch where I left off.
Unbreakable contracts SOLVE the problem with unreliable international outsourcers that pad their hours and lie about credentials because the employee and employer put up a deposit and thus would both lose if the employee tries to lie about their hours. This in the long run saves the employer endless amounts of money because they will force employees to do the impossible: THEIR JOB. I've used it myself and it works. Yes I drink the kool aid.
Unbreakable contracts SOLVE the "empty box" and shipping fraud scam. I even had a friend who lost 100k+ in supplies in a shipping theft and when suing the party spent his life in court unhappy because nothing came out of it even when he won they didn't pay. This system solves it because empty boxes and other tricks are enforced by the deposits so it REMOVES THE PROFIT INCENTIVE FOR THEFT.
Unbreakable contracts allow TRUSTLESS BARTER and farm co-ops and thus is the ONLY peaceful contract that would work in an anarchy. Its the ONLY contract in history NOT BACKED BY GUNS. Behind every lawyer is a gun!
Up to 50% of Bitcoin at least has been stolen due to escrow theft (mt gox, sheep market, silk road, cryptsy, bitfinex, mintpal etc etc etc). If any of those platforms had double deposit the theft would never have happened (most were inside jobs of course). Bringing me to Open Bazaar and BitSquare which 2 of 3 escrow can easily be stolen by escrow agent colluding as buyer/seller and being anonymous posing no risk. That 3rd party?? GONE.
And don't even get me started on the "wall of features" in BitBay. Anti-Keylogger, Steganography and pay to email, BitHalo itself being the worlds first multisignature software before Armory. The security is so pumped up that it would be a joke to try and hack these accounts with your keys hidden in images and the automated 2 step spending joint account features to let a user sign a TX using two computers!!
This coin isn't different?? Screw that, show me one coin that has a piece of software with contracting user interface. NXT contracts were totally arbitrated and breakable and the markets had no enforcement layer and wasn't decentralized. These markets are because they are serverless and based in Bitmessage, they are not bloatware or blockchain based. And furthermore even Ethereum doesn't have a UI for offer/counteroffer contracts and even if they could do double deposit they have no interface for it. This interface has taken a chunk out of my life to make for people like you! To help consumers have better lives.
And me having 10% was know, all the addresses posted on reddit, I already had my name mocked by government trolls and had to deal with this cesspool called "bitcointalk" run by Theymos who works for a senate office. I was lucky to have a community in my corner who supported me. I didn't even give myself that 10% it was given to me by the founders who left with the funds. At this point, its a vested interest and I don't even sell any Bitbay ask the hundreds of community members who talk to me daily on slack. I've been working 3+ years WITHOUT FUNDING. And a shout out to all the other devs in crypto who go unnoticed for your hard work while investors bitch. I feel your pain! The devs who work like dogs without funding. I'm one of the few, I think there are a couple others. Granted, I hold crypto and made money from simply holding coins. But I can't trade and code. Try it yourself tell me how it goes.
And while we are on the subject of premines... say hello to Bitcoin!! You don't have a problem with Craig Wright, the NSA, and FBI members who ran silk road and all the govt thefts and hacks to steal so many Bitcoins not to mention it being popular on Tor made by the Navy and "Sathosi" having billions in coins or the WinkleVoss Twins who could crash the market in an instant if they wanted. Or how about people collectively selling?? I will argue Bitcoin has no better distribution. I don't even hold the most coins, there are a couple investors who bought up a big chunk in Bitbay too.
If you don't like people holding a big amount of supply I would avoid the USD since the federal reserve is allowed to DOUBLE SPEND printing infinite amounts of money and giving themselves funds for free in electronic accounts with their criminal friends at Swiss bank who used to have like 70% of the worlds secret money supply or how about the military who embezzles trillions of dollars and conveniently keeps their names off Forbes?!
Or you don't like premines how about DRK which is now DASH which had a signifigant premine almost 100% by the devs. And then there was Ethereum who has probably a premine as bad as DRK which somehow magically sold itself out for 40 million despite NOT HAVING A PRODUCT. And then they just so fortunately get deals with Microsoft and huge banks. Then all their ETH ICOs has Gavins name on them, they fund in minutes without hardly any marketing where its pretty clear the devs buy their own ICOs. And then there is the DAO where they obviously gave themselves kickbacks since it raised 100 mil, had a bug they audited and exploited and probably a few insiders shorted.
Look at wall street. Companies where the stock only sellls a few percent of its supply and the board of directors almost always holds more than 51% of preferred shares and those trade trillions of dollars.
So honestly your points are not true. You just haven't done the research. You aren't me, you don't know the investors and why they are so excited about double deposit.
And lastly without going too much into it, you mentioned the peg has been tried before in other coins? Not true. You just don't understand how I'm doing the peg. Its done by freezing and unfreezing supply evenly for ALL users its not opt in and gives various liquidity speeds for the money since the frozen funds are slowed with an option to transfer in a one month time lock. This is the ONLY way to do a decentralized peg. Its not a hard peg but we could make it that way, its more like a "crawling peg" in economics.
All the other coins that did pegs failed because those were CENTRALIZED. Nubits uses custodial accounts who front run the market and absurd interest rates offered for parking and then burn so you don't hold ownership over previous liquidity. NuBits peg failed before. Tether is of course centralized and already broken below a dollar and run by same parent company as Bitfinex?? Yeah we know where thats going. And lastly BitUSD and market pegged assets of BitShares are the closest to being valid however they rely on trading tricks and experience low liquidity and are subject to black swans and the whole set of pegs can crash if BitUSD crashes.
Ours doesn't have any of those flaws, is as simple as it sounds, control of supply by freezing and unfreezing. Yet quite complex to code and I wrote a 20 page whitepaper.
The code itself is 50,000 lines of completely original code. So you were saying what does this bring to the space? What doesn't it bring?
Actions speak louder than words, my software works and actually does something. And people even have started to use it! See it in action for yourself:
https://www.youtube.com/watch?v=HrXUZRGd1hEAnd sorry if I come off as emotionally invested, I am... can't help it. I really want double deposit escrow to be known and used in this space. SDC tried to copy it but they failed and abandoned the brand. I'm hoping more people will attempt it but I know its hard because of how much work this was.
If you don't believe me, try and code it from scratch yourself and I think you will change your tone.