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Showing 10 of 10 results by samgeneric
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Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
by
samgeneric
on 18/05/2015, 22:42:12 UTC
How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

It's not possible.

What would make it impossible?  I was just digging around and found this post from over a year ago with the opposite answer to the same question:

https://bitcointalk.org/index.php?topic=395761.msg5467658#msg5467658

That person is wrong. I'll let someone who's more technical take the question from here if they have any interest. I'd not worry about it though, if that's what you're doing, worrying about an investment you made in XCP.

Can you tell me in conceptual terms why it can't be done?  Why can counterpartyd do something that bitcoind can't do?  That doesn't make sense to me.

How big of a concern is it that Bitcoin could build Counterparty-esque functionality directly into their protocol?
It's not possible. Bitcoin can't escrow value, which means that you can't build (decentralized) smart contracts directly onto it. That's the value of XCP. It can actually act as a value escrow.

The reason it won't be built into the BTC protocol is because it's a huge risk. It would get away from BTC's main function as an engine for settling BTC transactions. As you see with colored coins, you can do some asset registration if you're creative. But you will never be able to escrow value on Bitcoin.
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Board Service Discussion
Re: A quick analysis of BitCoin's biggest marketplace, BitMit
by
samgeneric
on 22/03/2013, 22:29:33 UTC
Quote
BitCoin's biggest marketplace
Citation please?
This is a small community. For product, I think it's pretty hard to dispute that BitMit is the biggest right now. If you know of one bigger, please share.

EDIT: Oh, yes, SilkRoad is probably bigger. But at the moment it's underground. I hate to qualify my statement, but I will anyhow. BitMit is the biggest, closest-thing-to-a-white-market that BitCoin has.

bitcoinstore.com has sold over $288,000 worth of stuff so far and it hasn't even been out that long.  Unless you can provide some form of documentation that BitMit sells more than that, I'm gonna have to go with the idea that bitcoinstore.com is "bigger" than bitmit.  So it's not just Silk Road that's "bigger."
Again, really not the point. this isn't a ranking contest, just a very simple analysis of one of the big, well-known btc markets.
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Board Service Discussion
Re: A quick analysis of BitCoin's biggest marketplace, BitMit
by
samgeneric
on 22/03/2013, 22:13:37 UTC
Oh, and I've had more than 300 transactions on Bitmit by myself, so the total number is a lot higher than that. If you add together the feedback scores of all the sellers you listed, and added something like 50%, I think that would give you a more correct idea about the number of transactions. If you were a Bitmit user, you could also look at the internal order numbers.
Did that. The total amount of feedback is probably around 1400-1500. I am looking at positive feedback numbers, so I'm getting an approximation. If you've sold 300ish items, that means that your seller feedback represents about 2/3 of what you've sold since you ahve abotu 200 pieces of user feedback. So if that's the case, and that's consistent accross users, that means that this analysis is abotu 50% off, which still puts the total number of transactions on the site at between 450 and 1050, which is a big range and a higher number, but still a tiny number of transactions that have been facilitated.
How did you come up with the numbers 450-1050? Like I said, I have personally made more than 300 transactions. "Steamgames" has a feedback score of 400, so between the two of us that's at least 700 (and more probable, 900) transactions. If you just added together the feedback scores like you say you did, you should get a total feedback number around 1000 for sellers. Add 50% to that since not all buyers give feedback, and you have a total number of 1500 transactions.
Sorry, you're right. It puts the number of transactions on the site at around 1500. Still very low. You, SteamGames and madphysicist actually represent something like 45% of all user feedback which probably means you represent something like that number of actual transactions. The top 25 users actually respresent 80% of all user feedback on bitmit.
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Board Service Discussion
Re: A quick analysis of BitCoin's biggest marketplace, BitMit
by
samgeneric
on 22/03/2013, 03:11:54 UTC
Quote
BitCoin's biggest marketplace
Citation please?
This is a small community. For product, I think it's pretty hard to dispute that BitMit is the biggest right now. If you know of one bigger, please share.

EDIT: Oh, yes, SilkRoad is probably bigger. But at the moment it's underground. I hate to qualify my statement, but I will anyhow. BitMit is the biggest, closest-thing-to-a-white-market that BitCoin has.
so can the OP stop saying it's the biggest market? just because it's "underground" doesn't mean it doesn't exist.
Man, offended easily? Whether it's the biggest market or not is not relevant to the point.

Alas, I will put my giant ego aside and concede that BitMit is not the biggest market. Silkroad (probably) carries the day.
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Board Service Discussion
Re: A quick analysis of BitCoin's biggest marketplace, BitMit
by
samgeneric
on 22/03/2013, 01:28:57 UTC
Quote
BitCoin's biggest marketplace
Citation please?
This is a small community. For product, I think it's pretty hard to dispute that BitMit is the biggest right now. If you know of one bigger, please share.

EDIT: Oh, yes, SilkRoad is probably bigger. But at the moment it's underground. I hate to qualify my statement, but I will anyhow. BitMit is the biggest, closest-thing-to-a-white-market that BitCoin has.
Post
Topic
Board Service Discussion
Re: A quick analysis of BitCoin's biggest marketplace, BitMit
by
samgeneric
on 22/03/2013, 01:08:01 UTC
Oh, and I've had more than 300 transactions on Bitmit by myself, so the total number is a lot higher than that. If you add together the feedback scores of all the sellers you listed, and added something like 50%, I think that would give you a more correct idea about the number of transactions. If you were a Bitmit user, you could also look at the internal order numbers.
Did that. The total amount of feedback is probably around 1400-1500. I am looking at positive feedback numbers, so I'm getting an approximation. If you've sold 300ish items, that means that your seller feedback represents about 2/3 of what you've sold since you ahve abotu 200 pieces of user feedback. So if that's the case, and that's consistent accross users, that means that this analysis is abotu 50% off, which still puts the total number of transactions on the site at between 450 and 1050, which is a big range and a higher number, but still a tiny number of transactions that have been facilitated.
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Topic
Board Service Discussion
Topic OP
A quick analysis of BitCoin's biggest marketplace, BitMit
by
samgeneric
on 22/03/2013, 00:31:19 UTC
Hey guys, I just put together an list of BitMit's best selling products. Just as kind of a point of interest.

I'm part owner in CoinPost.com a site that is a competitor with BitMit, so this is obviously not selfless. But I thought it was something the BTC community would want to see nevertheless, especially as Bitcoins are on the rise. Despite a lot of BTC investors being pretty flush with cash at the moment, I think you'll be surprised at how shallow the marketplace for goods is.

http://www.reddit.com/r/Bitcoin/comments/1aro1k/bitmits_most_lucrative_product_sellers_how_you/
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Topic
Board Service Announcements
Topic OP
CoinPost.com
by
samgeneric
on 29/01/2013, 01:24:00 UTC
Hey everyone, we're in the middle of doing otc verifications and such.

But I wanted to answer any questions people had about coinpost.com. I'm one of the owners, and we're really starting to do a big feature implementation on the site. So if you haven't checked it out yet, please do. We are going to have everything that BitMit has, and we're going to be adding more and more features as we go. So, stay tuned, get on, and start making feature requests.

We're going to listen!
Post
Topic
Board Service Announcements
Re: Bitmit - Bitcoin shopping mall (Translators wanted)
by
samgeneric
on 29/01/2013, 00:43:33 UTC
Please be informed that we have an urgent Power Maintenance in our Datacenter Network.

I read all your posts. The next days I will fix the mentioned bugs and make the Bitmit listings more cleaner by canceling the items from sellers who were not on the site for about 4 weeks.
I really hate doing this but it needs to be said:
bitmit.net is hosted by piradius.net, there site is fine. I dont think there is any power maintenance going on atm.

Actually, I can't imagine a load which would bring down wisely choosen hosting so often... I am kind of new here, but as far as I heard, the cheap VPS's are quite popular around here... Smiley

Well, bitmit.net is up again and I have my items listed (see sig.) but I would understand that with a site as intransparent and likely lying about several things is not a site I would want to use escrow at. Sadly I had to activate escrow for my items Sad

(The suggested site coinPost.com is even worse. There some dude "bought" one of my coins which effectively unlisted it but he never paid. I thought coinPost would watch the blockchain for payment and only unlist once the payment was done, but they tell you to watch your wallet for payments. What a joke. The "buyer" did not react to PMs.)
We're working on bugs for coinpost. We are doing our best to make it extremely sophisticated, and are really trying to optimize experience. We're running along in beta right now because of issues like these. We are currently making re-listing very easy, and making sure the system won't change the URL on you when you re-list old items. Also adding auction support int eh next few weeks.
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Topic
Board Beginners & Help
Topic OP
Who Owns CoinPost.com??
by
samgeneric
on 28/01/2013, 00:16:28 UTC
Hey everyone, I'm not a newbie to the forum, I'm just a lurker, and as such have to post this message here although it would be more aptly placed in the market category.

There has been a lot of questions about who owns coinpost.com.

I am one of the owners. We are going through site verifications right now, and are adding features everyday. Next, we are adding auction support. We want to give you guys the chance to start requesting features, so that we can know exactly what to put in our dev stream.

Anyhow, feel free to message me here, or on coinpost itself. My username is the same and you can find me at https://www.coinpost.com/users/samgeneric.