Messages

I can still peg information off google, why can't I steal it off Truthcoin?

I don't think so. I think it is a weakness inherent to only a subset of blockchains, one such weak blockchain is Ethereum.

Also, ceci, do you agree with me that parasite contracts are fatal to the project?

If you do, doesn't your point of view "Parasitic contracts can and will be done on truthcoin as well." require you to believe that both Augur and Truthcoin are worthless? I'm not sure how you get from there to your statement "I'm not sure I buy into the arguements you present against augur." Either you buy the argument for both or for neither, according to you.

Yes arguments apply for both.  I'm in agreement with your line of reasoning.  I was only mentioning that I'm not convinced that Ethereum is other distinct reason Augur will fail.   

I'm not sure both Augur and Truthcoin will entirely be worthless if parasitic contracts happen.  or simply they won't be making their votecoin users lots of income.   It may be just several users who own most reps and do the votecoins.  Either way, I see them existing at a small scale and will provide innovations for the bitcoin indstry in general. 

It has been 30 hours and 40 min since it started.
2989.83294846 BTC
513399.10038364 ETH

Anyone want to bet how much time passes until trading fees give the votecoin-holders their original investment back? $1 million is a lot of money.

Part of the problem with crowdsales is that you can sell some to yourself and inflate the "funds received" number. It's a smart idea, and someone who used to work at Augur (but no longer does) expressed an interest doing it during their crowdsale (hey, who knows).

Secondly, I still think that people don't totally understand that they can use the system for free (or that they are paying a 20% markup fee). Likely plenty of people don't care and are just wowed by the project and want to be a part of it.

The sun is setting on the current period (2014-2015), one where a recently-increased Bitcoin exchange rate (and Ethereum, given that it was originally "valued" at >$18 million for 80%) overlapped with the introduction of new projects which might, possibly, replace Bitcoin as Victorious Currency. People have a lot of (somewhat unspendable) cash, but not a lot of time/relevant-expertise.

Since ethereum allows you to make contracts that bet on augur without having to pay the fee, then the fee is like a voluntary tip. The gamblers don't have to pay if they don't want to.
Default settings are a powerful force. It is possible that a majority of traders pay the fee anyway.

Given "once a parastic contract exists, it's fate will be exactly the same as its host's", the risk-reward for both parasite and host is identical (unlike a bootleg movie where the quality may be lower). I think professional money-seeking traders are likely to consider the fee.

But the greater concern is higher-order stuff: that people will stop making contracts (out of fear that they'll be parasited) or that the VoteCoin marketcap falls on expectation of future parasitism, to a level incommensurate with that required to guarantee honest voting. Fear that the VoteCoin market cap *might* fall might then contribute to a lack of trading, etc.

The Nash Equilibrium can be reached ("found") slowly, but that doesn't mean it doesn't exist. Imagine that contracts exist where the trading fees for Q1 and Q2 each net $10,000 to be divided amongst the Voters. Q3 is coming up...what might a single person decide to try? What is his cost/benefit? What is likely to happen to VoteCoin marketcap? To Voters? To Trading?

It has been 30 hours and 40 min since it started.
2989.83294846 BTC
513399.10038364 ETH

Anyone want to bet how much time passes until trading fees give the votecoin-holders their original investment back? $1 million is a lot of money.

Part of the problem with crowdsales is that you can sell some to yourself and inflate the "funds received" number. It's a smart idea, and someone who used to work at Augur (but no longer does) expressed an interest doing it during their crowdsale (hey, who knows).

Secondly, I still think that people don't totally understand that they can use the system for free (or that they are paying a 20% markup fee). Likely plenty of people don't care and are just wowed by the project and want to be a part of it.

The sun is setting on the current period (2014-2015), one where a recently-increased Bitcoin exchange rate (and Ethereum, given that it was originally "valued" at >$18 million for 80%) overlapped with the introduction of new projects which might, possibly, replace Bitcoin as Victorious Currency. People have a lot of (somewhat unspendable) cash, but not a lot of time/relevant-expertise.

Since ethereum allows you to make contracts that bet on augur without having to pay the fee, then the fee is like a voluntary tip. The gamblers don't have to pay if they don't want to.
Default settings are a powerful force. It is possible that a majority of traders pay the fee anyway.

Given "once a parastic contract exists, it's fate will be exactly the same as its host's", the risk-reward for both parasite and host is identical (unlike a bootleg movie where the quality may be lower). I think professional money-seeking traders are likely to consider the fee.

But the greater concern is higher-order stuff: that people will stop making contracts (out of fear that they'll be parasited) or that the VoteCoin marketcap falls on expectation of future parasitism, to a level incommensurate with that required to guarantee honest voting. Fear that the VoteCoin market cap *might* fall might then contribute to a lack of trading, etc.

The Nash Equilibrium can be reached ("found") slowly, but that doesn't mean it doesn't exist. Imagine that contracts exist where the trading fees for Q1 and Q2 each net $10,000 to be divided amongst the Voters. Q3 is coming up...what might a single person decide to try? What is his cost/benefit? What is likely to happen to VoteCoin marketcap? To Voters? To Trading?

Huh?  I believe the bitcoins are multi-sig and time locked through bitgo. And why would they do that?  It would put off buyers because they get less Reputation % out of a bigger pool, thus limiting the funds they receive overall.

I'm not sure I buy into the arguements you present against augur.  Parasitic contracts can and will be done on truthcoin as well.  What's keeping someone from creating a truthcoin sidechain to bitcoin and doing the same, offering lower fees, better UXUI interface, and better funnels into the system?  Its a weakness relevant to both projects.

I do feel being built on Ethereum offers greater vulnerabilites.  But I'm not sure what they are.  I don't know exzactly how Ethereum works.  So I can't comment on the viability of such a project being down on Ethereum.  What do you think are possible technical attacks to Ethereum or Augur that could harm each systems?

Holy crap this guy is dumb.

agreed. total nut.

I'm trying to follow this conversation, but can't see what you are talking about.  Could someone tell me where can I find the LS-LMSR?