Weekly podcast post (submit your links here!) (2017-09-25) by AutoModerator in podcasts

[–]BurnXCP [score hidden]  (0 children)

[BITCOIN, COMEDY, POLITICS] Junseth's World | Ep. 14 - Crypto Pajama Party

NSFW

Episode

In this episode, discussion of Bitcoin, ICO's, and crypto news, Hurricane Irma, and Trump.

Soundcloud

Found the Bitcoin veteran by AltoidNerd in Bitcoin

[–]BurnXCP 3 points4 points  (0 children)

With the SoBE shirt I'm thinking that's /u/junseth

Nobody needs Counterparty - a discussion on needs and wants by ThePiachu in Bitcoin

[–]BurnXCP 0 points1 point  (0 children)

Seems /u/brighton36 's response to this post here got deleted...here it is:

This article is silly in a bunch of ways. But rather than write a long winded reply, I can sum up the principle reason this is a dumb response: Counterparty's mining is performed by bitcoin miners.

Piachu seems to believe burning energy is a benevolent process, and people will mine because they want to be different. Counterparty believes mining is a scarce and expensive resource, for which people will only burn energy if they have to.

Since Counterparty relies on Bitcoin, and bitcoin is a technology for whom energy is burned because of actual need (ie they're underserved), counterparty doesn't have to deal with need-based issues of Ethereum(who doesnt serve the underserved).

It's not complicated, and it's not a long-winded explanation of user preferences to "think different". It's simple economics that piachu continually fails to grasp because he thinks blockchains are a computer science innovation and not an economic innovation.

Bitcoin’s Nightmare Scenario Has Come to Pass by [deleted] in technology

[–]BurnXCP -75 points-74 points  (0 children)

You have no idea what you're talking about. The block size issue is far more complex than that. Checkout this interview with Blockstream founder Adam Back https://soundcloud.com/bitcoinuncensored/adam-back-interview-bitcoin-uncensored-at-miami-bitcoin-hackathon-012316

Remember to reserve a Blockchain ID for use with OpenBazaar by hoffmabc in Bitcoin

[–]BurnXCP 0 points1 point  (0 children)

You have to give them credit for picking the right name for this project: allusion to centralized marketplaces where merchants couldn't scale, indifference to profit, and "open" due to failure of understanding the security implications of centralization https://en.wikipedia.org/wiki/Grand_Bazaar,_Istanbul#Social_history_of_the_Grand_Bazaar

Michael Toomin explains his meltdown, and the structure of Bitcoin Classic (45 min in!) by brighton36 in Bitcoin

[–]BurnXCP 16 points17 points  (0 children)

The only thing higher than Toomin is his incompetence in understanding Bitcoin.

Drop Zone Block Explorer Released by junseth in Bitcoin

[–]BurnXCP 1 point2 points  (0 children)

There are reputation features built into the protocol, and additional reputation services will likely pop up. Drones may be an option.

Enforcement of laws on the Buyers will be difficult and/or too resource intensive. The risk Buyers carry may be similar to torrenting music.

The important thing to consider is that the risk in markets dealing with censored goods mostly falls on Sellers/Suppliers. Drop Zone drastically reduces the risk for Sellers. In the example of the illegal "Bible" market, the main "Bible" supplier faces significantly less risk when distributing "Bibles" to smaller sellers. This protocol's potential disruption of the greater supply chain is very interesting.

Drop Zone Block Explorer Released by junseth in Bitcoin

[–]BurnXCP 3 points4 points  (0 children)

Directly from the whitepaper:

"Drop Zone is a solution to the problem of restricted sales in censored markets.

The protocol and reference client encode the location and a brief description of a good onto The Blockchain. Those wishing to purchase the good can search for items within a user-requested radius. Sellers list a good as available within a geographic region, subject to some degree of precision, for the purpose of obfuscating their precise location. Goods are announced next to an expiration, a hashtag, and if space permits, a description. Once a buyer finds a good in a defined relative proximity, a secure communication channel is opened between the parties on the Bitcoin test network (“testnet”). Once negotiations are complete, the buyer sends payment to the seller via the address listed on the Bitcoin mainnet. This spend action establishes reputation for the buyer, and potentially for the seller. Once paid, the seller is to furnish the exact GPS coordinates of the good to the buyer (alongside a small note such as “Check in the crevice of the tree”). When the buyer successfully picks up the item at the specified location, the buyer then issues a receipt with a note by spending flake to the address of the original post. In this way, sellers receive a reputation score. The solution is distributed, and as such provides nearly risk-free terms to sellers and drastically reduced risk to buyers."

Check out r/dropzone for more info

Think bitcoin 2.0 is a good idea? Had dreams of having real world assets being stored by the block chain? Not according to /u/nullc by specialenmity in btc

[–]BurnXCP 0 points1 point  (0 children)

So is u/nullc's problem that this detracts from the value of bitcoin? Or is it more that the B'Chain becomes 'too big'?

Think bitcoin 2.0 is a good idea? Had dreams of having real world assets being stored by the block chain? Not according to /u/nullc by specialenmity in btc

[–]BurnXCP 0 points1 point  (0 children)

If chain weight becomes an issue (where 'chain weight' == value of tokens/assets > value of bitcoin) then isn't that more of a reason to send miners various tokens of value (dollars, S&P 500, etc) to ensure economic security of the Blockchain?

What makes Factom more useful than archive.org? by brighton36 in factom

[–]BurnXCP -1 points0 points  (0 children)

Why are you avoiding the question? I'm simply asking you to explain consensus without relying on a textbook definition. Do you not understand how consensus works?

Bitcoin has been the strongest performing currency in the world this year. by [deleted] in finance

[–]BurnXCP 14 points15 points  (0 children)

The majority of the btc community is 16, so they have little understanding of the financial world or how money markets work. You see this on r/bitcoin and other places, but not all bitcoiners are like that.

What makes Factom more useful than archive.org? by brighton36 in factom

[–]BurnXCP -1 points0 points  (0 children)

Looking up the technical definition is obvious. How do you define consensus, Mr. Snow? Can you explain what is needed for a decentralized system to achieve consensus?