Truthcoin-on-BTC site: https://bitcoinhivemind.com
Quote from: zack on June 09, 2014, 10:44:35 PMThis would allow the votecoin holders to verify decisions much more efficiently, if they do not have to read them.
Quote from: zack on June 09, 2014, 10:44:35 PMI am very excited to be working on a project that even Gavin cannot comprehend.
Quote from: delulo on June 13, 2014, 12:32:44 PMWhat effectively is the difference between trusting third party oracles and pool operators? There is a difference in what you trust them with / what they can do if they collude.... But no one can say that Bitcoin is trustless...
Quote from: psztorc on June 13, 2014, 01:44:05 PMQuote from: delulo on June 13, 2014, 12:32:44 PMWhat effectively is the difference between trusting third party oracles and pool operators? There is a difference in what you trust them with / what they can do if they collude.... But no one can say that Bitcoin is trustless... I can. We are using 'trustless' to mean "expect them only to act in their economic self-interest".Its sophistry to say that "we are trusting that the laws of physics will continue to operate" or "we are trusting that we exist" or something stupid like that. Just because you can work the word "trust" into a sentence, doesn't mean that that sentence actually contains any ideas. Bitcoin miners are different from a mint or currency-issuing bank because the bank would make money (in this case, literally) if they broke their rules and fired up those printing presses.When people say "trust me", they aren't saying "trust that I'll act selfishly and stab you in the back as soon as convenient", they're saying "I know I have every reason to stab you in the back, but please trust that I won't because I also care about X". This fine on a case-by-case basis, but is systemically unreliable because X's influence and context can change over time.Oracles can make an above-market economic return by betraying user's trust, while pool operators cannot. Oracle-funds are stolen permanently, whereas a 51% is extraordinarily expensive and can barely do anything. Reverse a few 8 confirmation transactions, in exchange for losing your entire revenue stream? Is that a joke? The attack chain might not even succeed in becoming the longest, or the community could coordinate an emergency checkpoint. Theft-by-oracle would leave the oracle with still-valuable Bitcoins. 51% would leave the attackers with devalued Bitcoins. It doesn't even come close.