simondlr

Curious to know what future plans there are with this. The mention of DAOs seem interesting?

It's done by taking the amount of Ether it has already raised * the current price of Ether. See it transparently on the Ethereum blockchain: http://etherscan.io/token/TheDAO

It's all completely transparent on the Ethereum blockchain. No other middlemen holding any funds, except the code. http://etherscan.io/token/TheDAO

How is it a pyramid scheme? Investors pool funds and proportionally vote on what to invest in. There's no requirement to recruit new investors.

Who are the initial investors? There's no privileged position.

I don't understand that. Can you elaborate?

There are several things Ethereum does currently that's better for scaling.

1) It produces blocks every 17 seconds. It can do this without neglecting security, because orphan blocks count as uncles and are included in the security of the whole network.

2) It has a scalable/dynamic blocksize. The miners can scale the gas limit up or down by a certain amount. If the current gas limit (pi million) gets hit, miners can start increasing it.

3) Tx fees purpose is primarily for DDOS protection & solving the halting problem with turing-complete scripts. It's not a fundamental element for security, because the issuance rate is constant. This means that a "fee market" doesn't need to exist as much as in Bitcoin, in order to make sure the blockchain remains alive. It has an infinite, but predictable supply, rather than finite.

4) Future scalability improvements include Casper PoS, which will decrease block time to around 1 - 4 seconds & sharding, which will remove the need for every node to process every part of the transaction space.

These additions will mean that for the current period, transactions will increase, and perhaps lead to more centralization as not many will run nodes to keep the whole state. This is a trade-off in return for running more transactions.

> Give me any ethereum use-case & I'll tell you how to do it with bitcoin.

A dapp reaching into the state of another dapp.

To be honest, we were frustrated that it slipped through. As in exactly as you say: it's sloppy and should've really not let this happen. Completely our fault.

Thanks for the feedback! We appreciate it.

We realise this is a problem and plan to add functionality for both Bitcoin & credit cards in the future.

This was not intentional. We had a very short time to get a prototype out the door & couldn't optimise the best we can.

The name is most likely a reference to Leah McGrath Goodman (who, if you don't know, wrote the piece on Dorian Nakamoto in Newsweek).

One thing I need to clarify (similar with Ripple). If in the future, there are enough trust hops between nodes, then the currency won't even be required, right? Because the currency is just a way to hop between untrusted nodes?

Fantastic feedback. Thank you so much!

Co-founder here. To add.

We also have to look at a future where an artist like Justin Bieber could put up a BTC address on his Twitter profile. Taking a cut means the artist has a small reason to not want to sign up ("they take 1%-2%. I'm better off just sticking a BTC address on my Facebook").

VRCoin. It's a blockchain that simultaneously doubles as storage for items a decentralized virtual space. You require the coin to store/remove items from the space [namecoin for coordinates essentially]. I think once VR takes off there's going to be a desire for a virtual world that's not owned by any one specific entity. The blockchain acts as decentralized storage as well as spam control, so people don't just place dicks everywhere (or rather it would be costly to do so).

VRCoin. It's a blockchain that simultaneously doubles as storage for items a decentralized virtual space. You require the coin to store/remove items from the space [namecoin for coordinates essentially].

I think once VR takes off there's going to be a desire for a virtual world that's not owned by any one specific entity. The blockchain acts as decentralized storage as well as spam control, so people don't just place dicks everywhere (or rather it would be costly to do so).

Yep. http://twimemachine.com. Easily read old tweets. 700k Twitter users have used it. 31k uniques/month. Used by Paulo Coelho, NBA & ESPN.

Stats here: http://simondlr.com/post/63455198178/twimemachine-for-sale

Please tell me he is going to work on VR coding! This can't come soon enough. Multiple screens (more than the usual 2), more visualizations. Epic.

You could do it that way. Inputs, Outputs and Signatures don't change though. So just keep track of that. With each confirmation the tx-id becomes less and less malleable. At some point then store the tx-id.

Micropayment channels do provide very small payments without flooding the network: https://code.google.com/p/bitcoinj/wiki/WorkingWithMicropaym...

Yes, exactly! It's all just a network effect of value. Read my post here: http://simondlr.com/post/70089813484/in-the-future-everyone-.... I believe, if go forward with what this entails, everyone will have their own cryptocurrency in the future.

Dogecoin's transaction volume has been higher than Bitcoin for the past few days: http://bitinfocharts.com/comparison/transactions-btc-doge.ht.... Of course, Bitcoin doesn't take into account off-chain transactions, which at this stage is probably higher than Dogecoin's. The high tx volume is most likely due to all the tipping happening with it.

Dogecoin changed my perspective on cryptocurrencies personally. I battled with the concept of altcoins: why they have value, and whether they aren't just taking away the value from one cryptocurrency. The change it instilled is that crpytocurrencies can simply function as an investment in an any idea/concept/theme. So far all coins were "arbitrary", centered around vague ideas: 'feathercoin', 'litecoin', etc. Some had technical improvements, but its power were just a belief. Dogecoin is the first coin where there is a much more clearer purpose behind: that of the doge meme. It means we will start seeing a cryptocoin for anything and everything. It's a way to create a world of public shareholding... of anythin.

Nope. On Cryptsy it has a 24 hour, 2900 BTC trading volume so far.

Unless altcoins can freely float with any other altcoins. Then an altcoin simply becomes a stock in a network effect that altcoin can sustain. There's a reason why Dogecoin (as a "joke" as it is), has almost a $10 million market cap, and it just over a week old.

Next year, we'll start seeing altcoins pop up for anything and everything. The marketcap doesn't have to be millions.

Agreed. By the end of next year there will be thousands of altcoins. By 2015 when it gets easier for anyone to create and sustain one (including the problem of securing small chains), there will be an explosion. Millions of coins. There will be a very long tail.

So, in short, they are still allowed to trade with it and use it, as long as they are 'okay' with the 'risk'. It's only financial institutions that can't work with Bitcoin anymore? Is this right?

Thanks. Link 2 works. What's the legend? What's the difference between green, black and blue stripes?