Quote from: dzimbeck on March 11, 2016, 11:06:55 AM

Quote from: ScoobyDood on March 08, 2016, 05:53:03 PM

Quote from: dzimbeck on March 07, 2016, 05:02:26 AM

Quote from: ScoobyDood on March 06, 2016, 06:41:47 PM

Quote

The current version has already had smart contracts for 2 years. The newest one is actually very stable and fast. However, I need to update the daemon from the POS 3 fork. (You could build that yourself too)

This version of BlackHalo has decentralized markets as well.

So the goals this year:

Implement the cold staking technique
Finish the remaining templates (currently only custom smart contracts and cash for coins template is live)
And after all templates, I'm still working on NightTraders beta.

The challenge in NightTrader I've had is latency, if i finish the microtrader it will require time to complete trades so i dont want to release a product if people arent using it.

Regardless, I'm making it with either microtrading or perhaps a variation on atomic trades or multisig exchange. The drawback to multisig exchange is i take on some liability because our servers participate. Microtrading is fully decentralized but consider some transactions might take up to 10-20 trades. Imagine waiting for a trade to finish when involved in Bitcoin (days! no fun)

Bitbay will also get their much anticipated pegging.

The problem? My guy who did my marketing moved on to do a completely different business after I paid him.

So we have no marketing in BLK or in BAY or not even for BitHalo or NightTrader.

I cant code and market, coding is so much work i dont even have time to trade and that has costed quite a bit.

And sorry guys that I don't visit Bitcointalk much, I am usually on r/Blackcoin

Speaking of marketing we have a new site for Blackcoin at davtonia.com/blackcoin but its been hard to convince Gritt to help me push the redirect link back. Things like this are exactly what holds back our marketing.

Its been 2 years and we are still using the old site.

The site might not be the only antiquated thing. Seems "industry" is going with the block chains...smart contracts with decentralized applications all without the possibility of down time.

Crypts are evolving and ironing out a niche in the system, we either evolve and move forward with them or fade away and die with the rest.

The possibilities are causing multi millions to pour new seed money in...I think we are on the edifice of the next "internet" and its time for some big moves.

Venture capital is flowing into this new wild frontier, and where is BLK?

We have the smartest brains in the crypto world, thats why I have a position in BLK. I only hope we haven't become compliciant.

Yeah however Etherium is a bloated protocol. It cant be both a decentralized application and payment network.

Let me explain how serious of a problem this is. Bitcoin cannot even store BASIC TRANSACTIONS on the blockchain without grinding to a halt and sparking a huge blockchain size debate. This actualy problem is increased 10-20 fold if you think you are going to store applications in a decentralized way??? You would be out of your mind to think that.

This is why i've never agreed with the Eth business model of "selling dreams without solutions". And investors are apathetic saying "Oh its okay bandwidth will catch up"

But it wont. Etherium to survive will have to centralize and that is absolutely no good as a payment network.

So actually the blockchain is only good for notary, possibly validating a side chain and reporting errors.

So in all honestly the future is in the lightning network, a P2P debt transfer protocol. Something that allows peers to avoid reporting to the blockchain by transferring trust in time locks.

Etherium storing software on the blockchain?? Ridiculous. Imagine having to download all of youtube to watch a single video. The scalaing problem is very serious.

I do like the fact that they can augment the scripting system so in that respect Bitcoin and all its clones are dinosaurs. But Etherium cannot possibly be a solution because it cannot be decentralized in its proposed state.

Thank you for that. After reevaluating the situation I believe you are correct.

If you carefully read the fine print of what they say you will soon see the holes. Factom says its over $1000 for 1gb to be stored on the bitcoin network and they are just using a single hash, which is just a time stamp!?! ....So the time stamp is going to point to another location of the files? idk

I've already heard about Bitcoins blockchain issues (almost 65gigs atm? so full client is out) and like you said downloading all of youtube is not going to work for a crypto, it has to be fast.

Seems like they are mixing two good ideas to come up with a pile of garbage... Snake oil salesmen?

Well they may come up with some ideas they have a large team you never know.

This is how i imagine the perfect decentralized coin:

1) The coin needs to run most of its core on a lightning network. What is a lightning network? Basically it daisy chains users together in joint accounts with lock times. Bob->John John->Alice etc... and it simply routes debt from one user to another peer to peer.

This way, users dont need to store a transaction on the blockchain unless it needs to be reported. If Bob wants to pay Alice he routes the debt through John

2) Users should be able to do more with wallets, add public keys, add redeem scripts, etc. There should be a better scripting system
Part of Bitcoins problem is that it has a really useless scripting system. This is actually the (good) part of Etherium. They add to the scripting rules and this is important so we can have special accounts, locktimes and other cool ways of moving money

3) There should be a decentralized exchange... a lightning network for every coin would work or a microtrader like NT or at least an exchange which is multisignature. The issue of speed bloat and latency is huge so microtrading is the last resort but it is also the most compatible with every coin.

4) Smart contracts/apps can work as side chains. Users can really just do all those fancy contracts at their own risk. However, why should the entire blockchain deal with the apps/bloat/etc?

5) Core smart contracts should still be double deposit... because computers are not lie detectors

6) The currency should control its own supply:
This i consider the most important feature. By allowing supply to deflate based on voting or some other method, you can equally freeze and unfreeze coins. If you limit this to at most 1-2% a day, you can basically control price without volatility. Even in volatile markets. You can then set up bylaws for coins and the rate at which they freeze (because once people start moving liquid coins they will have different due dates to freeze). So you can make minimum liquidity rules for sending and so forth.

7) Thus the above control of supply can be used to match demand and set any price you want. Like we do today for any commodity. Frozen coins can also be used to give loans, trade for liquidity and credit swaps etc.

Since your goal is to reduce bloat, you can combine with pruning and reputation systems. Its possible that proof of stake is better than proof of work, however maybe some sort of "proof of activity" combined with POS might be the ideal way to go.

You're still working on this project too?
Fuck no!
I sold all my bay after you scammed me there, I think I'll do the same here.
david zimbeck is a scammer, no one should trust you.