oleganza

42 ms·

361.
by oleganza 13y ago
You probably did not notice, but here are some of "chilling effect" news: 1. http://www.forbes.com/sites/kashmirhill/2013/08/12/every-imp... 2. http://blogs.marketwatch.com&#x2F
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by oleganza 13y ago
So if you are to be killed by Hitler, it's okay if Stalin kills you to prevent that? What happened with "initiation of force is bad, period"? If there's no moral absolute, then there's no point in debating what&#x27
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by oleganza 13y ago
Lets not forget that while Hitler and Stalin were playing their games, ordinary citizens of Germany and Russia did not vote for any war, hyperinflation, police state (neither imperial, nor soviet), collectivization etc. One regime was pushi
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by oleganza 13y ago
No, accidental fork will be reverted and people will go on with the previously working software. Bitcoin can collapse only when it's non-recoverable (e.g. ECDSA or SHA256 is completely broken). If it is recoverable (like in all cases m
365.
by oleganza 13y ago
BTC believers know there was never a year without at least 200% price increase.
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by oleganza 13y ago
You are right. What I mean is, if half of the coins will go with a forked blockchain, another half of the coins will not be able to participate on it. So for a guy who is about to receive a payment in a forked coin, the market would be roug
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by oleganza 13y ago
Keep in mind that if the market was free, US and EU would be full of bitcoin ATMs and there would be several working exchanges in every country. So if someone had a slightest problem with MtGox, they'd easily switch to another exchange
368.
by oleganza 13y ago
Today's price fluctuation only proves that people do not really understand how Bitcoin works. Many keep all their coins on the exchange because they got used to the traditional banking. MtGox says "it's a fault in the protoco
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by oleganza 13y ago
"v1.0" is meaningless label. Bitcoin already works and cannot be changed willy-nilly in a glorious self-proclaimed version 1.0 of a single particular implementation.
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by oleganza 13y ago
Early days of exciting new tech are early. And, yes, Blockchain compatibility requirement is a new phenomenon, unlike HTTP or even TCP/IP, so your comparison is not very relevant (although useful to highlight possible difficulties). We
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by oleganza 13y ago
No. If 51% of users fork off the blockchain for themselves, their forked coins will lose at least 49% of liquidity and value.
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by oleganza 13y ago
Satoshi never had any "whitepaper spec" which proclaims "intended" behaviour. The protocol is whatever 100% of users agree with. It started with one implementation, today we have many of them. And we already had the prot
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by oleganza 13y ago
Bitcoin does not need exchanges. Exchanges are just one method to get your hands on Bitcoin. Then you can trade in Bitcoin directly without any extra financial institution in between you and another guy. Exchanges are prevalent today as the
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by oleganza 13y ago
For all practical purposes it's unique. Otherwise, Bitcoin is broken and useless.
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by oleganza 13y ago
This is known design "issue", but it's a part of the protocol and thus not a bug which must be fixed. Bitcoin has many odd facets and all of them must be understood by anyone making bitcoin software.
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Not a protocol fault: MtGox and transaction malleability(blog.oleganza.com)
146 points by oleganza 13y ago|69 comments
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by oleganza 13y ago
Explanation on what happened in simple terms: http://blog.oleganza.com/post/76213549017/mtgox-and-malleabl...
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by oleganza 13y ago
Many people misunderstand what the Ponzi scheme is. In Ponzi scheme you get a dividend without selling off your shares. The fraud here is to tell you that the dividends are taken from real profits while they are paid from extra recently sol
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by oleganza 13y ago
How exactly is it superior? If I understand correctly, Ripple moves around IOUs backed by trust in intermediaries. Bitcoin is a commodity in itself that can be owned directly, without trusting any broker. Ripple to Bitcoin is like a banking
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by oleganza 13y ago
NY will classify Bitcoin as money and your little card swapping business will go the same road as Charlie Shrem's. French bank today issued press release saying that intermediation of Bitcoin transactions requires "payment process
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Idea: signed JavaScript plugins to wallet apps(blog.oleganza.com)
2 points by oleganza 13y ago|0 comments
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by oleganza 13y ago
Nick Szabo is probably also a pseudonym. There is not reference to him on the net made by reliable known person. I couldn't find anything about Nick Szabo apart from what he posted himself. Also, no pictures or connection to his George
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by oleganza 13y ago
Does it matter if the driver was in a Uber, Taxi or a personal car? It was a regular human in a regular car.
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by oleganza 13y ago
That's the same argument about non-mining Bitcoin nodes. Those who choose maximum security have to perform thousands of ECDSA checks and store the whole blockchain. For everyone else there's Masterc... mobile app. Your argument is
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by oleganza 13y ago
Those viruses would have to exploit some bug in implementation, right? Once the bug is found, all bad blocks will be thrown away. All valid transactions will be included in new blocks. I don't think script complexity would be the bigge
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by oleganza 13y ago
Ether scripts are not operating in unrestricted environment. They are turing-complete, but their environment and available memory are very restricted. A bug in the implementation may lead to denial-of-service attacks (just like similar bugs
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by oleganza 13y ago
OP understands better than many of us why and how Bitcoin works. Script execution is limited by the fee (which is paid upfront). If the contract is paid to take 10 ops and 2 slots, if it uses more than that or takes longer than 10 ops to ex
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by oleganza 13y ago
Just like Bitcoin: https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.mattwhitlock....
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by oleganza 13y ago
It seems there's a nice economical limit on script execution. If the contract during its executing consumes more resources (ops + memory) than fees attached to it, the it's simply considered invalid. That computation is done afte
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by oleganza 13y ago
1. Amazon instantaneously converts most of its USD into services and products that their suppliers and employees provide. 2. If you want to try dealing with Bitcoin, step zero is to allow people to pay in it. Then, if you happen to have mor

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