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Showing 8 of 8 results by atpcas
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Board Development & Technical Discussion
Re: Smart property
by
atpcas
on 03/02/2013, 17:54:24 UTC
Quote from: Mike Hearn on February 03, 2013, 02:10:31 PM
Ah, yes, if the companies needs can be met only with smart property, then sure. That sounds unlikely though. Most companies biggest cost is wages, not assets.

A bond market with completely anonymous participants has to rely solely on reputations (as it doesn't really make sense to buy a passport/fidelity bond/etc to borrow money). I'm not sure that's tractable in the real world for the same sorts of reasons that the web of trust never really took off: barrier to entry is too high.

People value their physical identity as an asset because everyone is given one for free at birth by their parents and the state, and because it can be used to easily put your own personal freedom and all assets on the line as collateral in a deal.
The vouchers/colored coins can be used for smart property and/or wages.  In the case of wages an employee gets vouchers that he can use to purchase goods at stores.  The stores can then swap the vouchers for bitcoins.   However if the bond issuer breaks his contract the vouchers he pays out will no longer be exchangeable for bitcoins.  Its a slightly different scenario from purchasing smart property but the underlying goal of keeping the bond issuer honest is the same.  With the voucher system described the barrier to entry for the web of trust would be lowered, you would have to trust people, but there would be that safeguard of the vouchers and smart property.  
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Topic
Board Development & Technical Discussion
Re: Smart property
by
atpcas
on 02/02/2013, 17:06:30 UTC
Quote from: Mike Hearn on February 02, 2013, 04:07:38 PM
Quote
there would need to be a way to mark the the bitcons I receive so that I can only purchase equipment with them from certain manufactures that will sell me products that have been tied to the bonds somehow.

If you want to give people money "with strings attached" then I think the better direction to go is CP-ABE, see my posts on distributed investment funds. Smart property isn't really relevant to that use case.

I think it should be stated what the whole point of this "auditable funding" song and dance is.   We want to have a stock/bond market where all parties can keep their anonymity.  Anything less will lead to a shutdown by government forces and if you think otherwise I believe you are being naive.  In a crypto anarchist system where there is no government to enforce contracts alternatives must be sought.  Smart property in the use case I described is one such way.
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Topic
Board Development & Technical Discussion
Re: Smart property
by
atpcas
on 30/01/2013, 01:26:05 UTC
I had a thought about smart property in a business setting.  Suppose I issue bonds for my business to buy new equipment.  To ensure my investors that I don't run away with the cash there would need to be a way to mark the the bitcons I receive so that I can only purchase equipment with them from certain manufactures that will sell me products that have been tied to the bonds somehow.  Furthermore, there would need to be an added incentive for me to ship back the bricked equipment if I break my contract (say I get back triple the shipping cost).
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Board Beginners & Help
Re: Best way to cash out of Bitcoins?
by
atpcas
on 29/01/2013, 05:13:39 UTC
Quote from: maxbit on January 28, 2013, 06:12:20 PM
What methods have you used succesfully to cash out of bitcoins (get USD for your bitcoins)? Ive heard that it is fairly easy to get scammed.. Anyone have tips of sites to get this done easiest?

I sold my 305 bitcoins at MtGox.  I got about $3000 for them.  The process was fairly painless.
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Topic
Board Beginners & Help
Re: What if the US Government forced exchanges to close?
by
atpcas
on 29/01/2013, 05:10:29 UTC
Quote from: tailwind on January 29, 2013, 03:16:46 AM
Sorry for my newbie questions.  I'm totally new to bitcoins.

Is it possible that the US government could shut down bitcoin exchanges?
The kind that let you buy fiat currencies?

Thanks
Newbalicious 
MtGox runs out of Japan.  How would they shut that down?
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Topic
Board Beginners & Help
Re: The hoarding problem
by
atpcas
on 29/01/2013, 05:09:31 UTC
Quote from: twolifeinexile on January 15, 2013, 05:32:10 PM
The total possible bitcoins is only 21M, and now half of that is out in people's hands. It is limited in supply, I think for most people bitcoin is also not their major assets, so they do not have to worry to liquidate them to get back resources they need.

All these factors make it so easy to be hoarded and price go up and up and up, but actually normally economy forms around it.

In real life, people will still use fiat, bitcoin become a collectable that is in the process of forever wasting resources (blockchain hashing), doing nothing. (price may still go up and up)

What if this is the end result?

(Not saying I agree with this viewpoint, but I think there is merits and people should think about this)

Hoarding is going to be an issue with any finite resource of value.   Fortunately each bitcoin is highly divisible.
Post
Topic
Board Beginners & Help
Re: Whitelist Requests (Want out of here?)
by
atpcas
on 29/01/2013, 01:28:51 UTC
Quote from: Anonymous on June 12, 2011, 06:28:51 PM
If you have a need to be allowed into the forum beyond before you have completed the required 5 posts and 4 hours logged in, please post your request here. You must provide evidence that shows that you either understand more about Bitcoin than the average newbie, or that what you want to post can only be done in another forum. Reasons such as "I'm not a spammer" will be ignored. Try to be as specific as possible.
....

I'd like to be whitelisted so I can post in the project forum.  Specifically I'm looking to discuss with people the theory and implementation of smart property.
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Topic
Board Beginners & Help
Re: Do you think that there is something funny about BFL's new ASIC
by
atpcas
on 06/10/2012, 02:56:44 UTC
Quote from: jojo69 on August 31, 2012, 10:58:13 PM
they are literally sitting on a gold mine, that IP is going to be very closely guarded
A hardware SHA256 processor isn't exactly rocket science... the fact that they give no updates really smells IMHO.