Quote from: Jutarul on June 09, 2014, 09:10:34 AM

Quote from: anu on June 09, 2014, 08:57:33 AM

Should the test run fail due to lacking participation, I will take that as a vote against truly distributed, OpenSource Exchanges and for the control of Bitcoin through the corporate state. Consequently, I'll withdraw.

One of the lessons learned from bitcoin is that the main driver of adoption is capital formation based on scarcity, basically rewarding early adopters disproportionally. Bitcoin would have probably suffered the same fate as ZeroReserve to date if it weren't for the concept of an arms race.

I still think this project has tremendous merit and would encourage every capable person to look at it and try to apply it to their economic framework. I am myself guilty for not following up on the peaked interest a while ago - there are many excuses but as pointed out above, excuse is irrelevant - what matters is reward.

So to move this discussion a bit ahead in what maybe the right direction, would you please detail how the reward system in ZeroReserve works and how it would facilitate adoption?

Your work and your contribution is truly appreciated.

I'd like to focus on something else: Bitcoin currently has an Achilles' heel that puts it on the mercy of the government: The exchanges. Being at the mercy of a competitor is usually not a good idea. No idea what is really to blame for the MtGox desaster, but I fancy to think it all started with the theft of 5 Million Dollar by the US government. Then look at the Chinese exchanges - they are forced to live day-by-day and whatever "Rule-of-Law" exists in China, it does not apply to Bitcoin exchanges. Should the Brits choose to shut down Stamp, we are in serious trouble!

And you know, it does not need to be an official shutdown. It is sufficient to harrass them with bogus allegations like money laundering, rape, child porn or collaborating with the Russians (this one has been out of fashion for 2 decades, but will see a comeback). It really does not matter that it turns out after a year or 2 to have no substance to it.

With an operational Zero Reserve network, attacking Exchanges becomes counter productive. It is possible for govt to trace and tax Bitcoins coming from an exchange, while every Bitcoin that comes out of a ZR trade has been anonymized. Governments and central banks may wish to shut down Bitcoin exchanges, but not if something much worse (from their perspective) would replace them. A working ZR network offers an insurance against government crackdown.