Quote from: lootz on June 27, 2014, 10:06:48 PM

Quote from: pnosker on June 27, 2014, 09:55:52 PM

Quote from: socal on June 27, 2014, 09:43:51 PM

Quote from: lootz on June 27, 2014, 09:34:03 PM

Quote from: Critariss on June 27, 2014, 08:49:32 PM

Quote from: socal on June 27, 2014, 08:01:50 PM

Quote from: Critariss on June 27, 2014, 07:57:48 PM

Can someone clear something up for me. A lot of people are saying that VeriSend and VeriBit are centralized which obviously is a bad thing, others are saying it will be decentralized with the wallet integration. Question is, will it actually be decentralized, or will it rely on a central location for action? Explain it to me please.

VeriSend will become decentralized as more people setup ring nodes to process the VeriSend transactions, anyone can setup a ring node.

VeriBit is and will remain Centralized for the time being

How do you set one up. I am assuming one more and more people do that, the node you setup becomes open to the network and starts processing other orders?

I am a Networking guy and I am also willing to set one up

I believe instruction are on Vericoin.info and if not then I will see about getting them posted up there

We are not finished open sourcing the software yet (no comments in the code, not particularly easy to setup, etc.). We are working on it and will share the details when it's done.

Cool let me know if you need some testing done I can always set up a box or a VM

Besides the issues of the ability/knowledge needed to code and set up a ringnode there has to be a reservoir of coins in each of the wallets in the ring to "MIX" with the coins coming in to be anonomized before they r sent along to their destination.

It's my understanding there R 110K coins in the current ringnode.

These coins were donated by the VRC community in the early going so the Dev's could get on with: well "Development". ( The dev's contributed 25k of the amount. Another sign of their commitment to the community and being part of it even when it costs them personally)

In his request for coins to fund the ring node so work could continue. Pnosker clearly stated that these coins would be in the ring node for "Eternity", like in forever. My twisted mentality found the use of this term romantic, solidifying, and emblematic of the honesty the Dev's of this coin have exhibited from the start.

I'm off the point I'm trying to make.

Other ring nodes can be created. The question is will they and/or should they be allowed?

A goodly number of coins R needed @ all times to insure a true mix. More mixing takes time (slows things down), fewer coins means more mixing for corresponding level of anonymity.

The coins in the ring node wallets R removed from the VRC population forever, increasing the value of available VRC because they R now more rare.

So if U want to build a ringnode who will put up the #'s of VRC to make it worthwhile & workable?

Then the top is off the can of worms with questions like:

   Can the creators of a ring node Charge a fee to recoup their investment?
   Can the coins of the ring node be "Locked IN" to prevent the builder from removing them surreptitiously? ( I'm not concerned about the Dev's doing this)
   Can a ringnode be dismantled and the coins salvaged if the creators R unable to get it up and running?

Lots of other questions will arise I'm sure.

And... is all the diligence needed to attend to these issues worth the time of our talented but finite team of Dev's

This crypto stuff is really fun!!!!!