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  • Real Name: Amos Bairn

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  • Replies: 22
  • Topics: 4
  • Likes Received: 15
  • Re: Official Bug Report Thread

    I got this notification four times:

    "A blog post by johnbarrett has been marked as ready for publishing, please review (or pass along to the appropriate person): Bitcoins and Gravy #57 Alpha Point: Powerful Software!"

    Somehow I don't think I'm the person who is supposed to be reviewing blog posts for publishing.

  • Re: PSA regarding BitUSD

    I wouldn't worry about the delegates, they can be voted out. I would worry about the stakeholders because they have the power to determine the delegates.

    As for parties I wouldn't worry that much about that either. In traditional government elected officials decide on the entire gamut of issues. They can only be replaced once every so many years. It's hard to tell how well they are actually doing their jobs.

    In Bitshares delegates have a narrow roll: create blocks. If a delegate goes bad they can be replaced quickly. It is easy to verify how well a delegate is doing their job. Are they following the right protocol? Are they producing blocks on time? Are they creating unnecessary forks? Are they excluding transactions? Do they confirm transactions quickly?

    I wonder if it's even possible for a currency to keep control truly decentralized. Bitcoin mining is controlled by a small handful of pools. I don't think that central control or semi-central control of a currency is a bad thing if there is strong currency competition. As long as there is competition the people in control of a currency have incentive to act in the best interest of the users, especially if they are the biggest holders of the currency. I don't think that a single global reserve currency is a good thing.

    Another thing to think about is whether someone can get a piece of power without permission from any of the people who already have it. With proof of work that means setting up and running a mining operation. With proof of stake that means getting coins. As long as the coin is publicly traded you can always get at least some.

    It would be possible for a person or group of people to get 51% of the coins and hold onto them. In that case there would be no way for anyone else to get enough coins to have any power. If a stake holder has to repeatedly vote, and each vote costs them some amount of shares, then a 51% share would eventually get reduced if they weren't buying back what they spend to vote.

  • Re: Last 2 Magic Words already expired?

    @bittburger I dont know how anyone can listen to these hour+ long podcasts within 2-3 days of being published. At least not normal people. Im only able to do it because I work from home and don't have a regular 9 to 5. Anyways thats a different topic.

    I sync my iPod about once a week, because that's how often most of the podcasts I listen to come out. Because of that an episode may be nearly a week old before it even gets onto my iPod. If I happen to listen to other podcasts before getting to LTB it can be even longer. I started listening to the LTB network podcasts on the computer to get them in time. I suppose that's better for the site, though, as it gets me on the site looking at the ads.

  • Re: [Feature Request] Ability to hide user comments unless they meet a certain account requirement

    Upvote/downvote will help. Post quality isn't just a binary spam/not spam. Upvote/downvote ratio will capture the quality spectrum much better than what we have now.

    If vote weight is based on LTBc held it gives users more incentive to obtain and hold LTBc. That would help its value.

  • Re: 17-10-2014 coindesk Australian Police Seize Bitcoin ATM in $2.6 Million Drug Bust

    Does Australia have civil asset forfeiture like the U.S.? Is the ATM being held as evidence to be returned when the case is over, or can the police claim it and any funds it holds as their own? What recourse does Bit2Bit have?

  • Re: Idea: Crypto Court

    Setting up a crypto court that can evaluate evidence and pass a ruling could be doable. It could be used to identify scams.

    If a business or merchant is being shady a customer could bring forward a suit. The business would be contacted and given the chance to defend itself. The business and customers would present evidence and argue their respective cases. The cases, the ruling, and any resulting actions taken, such as the business paying the customers a settlement, would be recorded in a public way. Someone thinking about doing business with them could look up the business name and see what cases they were involved in.

  • Re: Explain Something We Don't Know

    @page What people do not seem to understand is that scientific truths are thought up, tested and interpreted by the scientists themselves, a blind faith in science is as dumb as a blind faith in your country, religion etc.

    The only reason we are even able to have this conversation is because of science. Without science we wouldn't have computers and we wouldn't have the internet. We wouldn't even have control over electricity. We certainly wouldn't have Bitcoin.

    All humans are biased, and that includes scientists. But the scientific method is a process designed to cut through that bias as much as possible. Something is not considered scientifically valid unless it has been reproduced and checked by disparate people. It is similar to the blockchain in that way. Each new discovery is verified and confirmed by anyone interested, who has the skills to do so, before being built on.

    Science isn't perfect and sometimes it makes mistakes, as all human endeavors do, but it's pretty good at correcting those mistakes.

    The information gained from science can be use for good or evil. Einstein's theory of relativity led to both the atomic bomb and the ability to better understand and explore space. What the information is used for doesn't change the fact that the scientific method is a powerful and reliable method to learn about and control the world we live in.

  • Explain Something We Don't Know

    "Everyone you meet knows something you don't." - Bill Nye

    I thought this might be a good way to find out how many real people we have here, as opposed to spammers, and maybe spark some conversation: Give us a good explanation (two paragraphs?) of something we probably don't know.

    Here's mine: Trains use air brakes, but they kind of work backwards from how you might expect. Instead of the brakes being applied when the pressure in the brake line goes up, they are applied when the pressure drops. This is a failsafe in case the brake line gets cut.

    Each car in the train has an air tank that gets filled from the brake line and a special valve. If the pressure in the brake line drops the valve opens a line from the tank to the brakes, engaging the breaks and slowing the train. There is a control valve in the engine that the engineer can use to let a little air out, slowing the train a bit; let it all out, putting on full brakes; or anything inbetween.

  • Re: What have you bought and sold with Bitcoin?

    I bought a Bitcoin B keychain from Davi Barker.

    I haven't sold anything for bitcoin, but I've done a few things that people have paid me bitcoin for.

    @halo I bought one of these that should be arriving next week

    Those are so beautiful. The craftsmanship is impressive, to say the least.

  • Re: Should we Keep our LTBcoins to rise it's price ?

    LTBc is backed by advertising on the LTB network. If you want the value of LTB to go up, patronize those that advertise on LTB. The more valuable the ad space here the more valuable LTBc.

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