Quote from: TPTB_need_war on May 29, 2015, 07:28:41 AM

Quote from: molecular on May 29, 2015, 05:35:51 AM

Quote from: Reggie Middleton on May 28, 2015, 07:14:08 PM

Quote from: molecular on May 28, 2015, 06:43:05 PM

Quote from: Reggie Middleton on May 28, 2015, 11:19:50 AM

Quote from: molecular on May 28, 2015, 06:20:10 AM

Quote from: TPTB_need_war on May 28, 2015, 06:11:59 AM

Quote from: molecular on May 28, 2015, 05:58:58 AM

Quote from: HeliKopterBen on May 27, 2015, 07:28:37 PM

Pretty bold claims from Middleton, but I have tried it and it works, at least in a beta phase, not vapor phase or proof of concept phase, but beta phase. You can trade all tickers that Cypherdoc mentions on here.

I still don't understand how the tickers are fed into veritaseum to settle the bets. Can you explain that?

Saying "it works" without understanding how it works is short-sighted.

Twice or thrice I tried to find technical documentation (wading through all the promotional crap) and was stifled, so I assumed it is centralized bullshit.

That's my assumption, too... until it's explained how it works and it works in a way I can trust (which I doubt, but I've been wrong before).

If it's Reggie typing in 50000 tickers every hour then there might be no "counterparty risk", but there's plenty of other risk.

EDIT: I PMed him, maybe he'll show up here and explain. If not, it hardens my assumption.

See slide 14 here https://docs.google.com/presentation/d/1UxB33wp1rCncBtPbuzQbkS1SZg_fjCTNMqu-wZGii-o/pub?start=true&loop=false&delayms=10000&slide=id.g7b8415063_38

Thanks for chipping in! Your other post ("centralized oracle") confirmed my suspicion. I don't share TPTB_need_war's view that that fact makes veritaseum centralized bullshit, though. I suspect it might be a great system. I love the fact that it lives on the bitcoin blockchain and has no other token. I also love that there's no counterparty risk and in addition I'm guessing it ties up some bitcoins in contracts and I do like that, too.

About the "other risk": where is the oracle on your server getting the tickers from? I guess that process should be made transparent at some point so we can at least know how it could be manipulated.

Certainly the incentive is high for some rogue employee somewhere to falsify some ticker feed you're pulling for just long enough for a large bet to be settled in his favor, no? Clearly there's noone capable/willing to fix something like that after the fact.

Only the data feed is centralized, everything else is fully distributed, which is better than centralized (reference the first link that I put up which explains this). A decentralized data feed just wouldn't work and it would be taking a step backwards from the current legacy system unless and until we have more activity than the centralized exchanges. Securities data fees are commodity items, and very easy to corroborate, very difficult to get away with in terms of fraud and/or manipulation.
As for someone in my camp manipulating a data feed, he/she would have a hard time doing so (we get them from 3rd parties) and even a harder time concealing it, and even a harder time than that getting away with it (each client plus the server has the ability to audit, although that is not implemented yet). You'd have to somehow change a data feed, hack into 3 disparate systems to inject that false data feed (whose real feed is freely availalble to all) and then hope nobody notices.
As it stands now, I believe our system is safer than the status quo by a long shot.

I understand.

Are you sure you (and he) understand?

Reggie sidesteps the issue of transient (perhaps un-auditable) manipulation of data feeds in conjunction with high frequency trading manipulation.

One thing programmers know that n00bs don't, "the devil is in the details" and "you don't know the whole story until you dig into the coding (the top-down perspective may be altered in the process)".

Quote from: TPTB_need_war on May 29, 2015, 01:01:05 AM

Quote from: Reggie Middleton on May 28, 2015, 11:00:51 AM

Download the client and give it a try. It's a fully functional system and you can see that it runs cleanly.

It is probably impossible (short of reverse engineering or building an extensive test kit) to determine that it runs cleanly without seeing the source code, because for example how do we evaluate how it might work in extreme or panic market conditions, under DDoS or high-frequency trading attacks, etc..

Maybe you should clarify it for us "N00bs". Exactly what does HFT have to do with digital OTC swaps, particularly P2P swaps. For the life of me, I can't figure it out and as far as I know I believe I created them.