Truthcoin-on-BTC site: https://bitcoinhivemind.com
Quote from: zack on May 23, 2016, 06:41:29 PM2) "bankrupting" isn't the failure mode we are afraid of. We need to pay the oracle enough, or it will lie.All the rep in the oracle is sell-able all the time. If you can win X amount of money by getting the oracle to lie, and it costs Y amount of money to buy up enough rep to make it lie, and X>Y, then the oracle could profitably lie.If there is a separate blockchain with a large volume of trading in parasite contracts, then the person doing the attack could earn money on both blockchains.It sounds like Crystal and Hivemind are vulnerable to altcoin parasite contracts in the same way. Read some of my posts about it.
Quote5) True. Permissionless implementation makes it much less fragile.Ethereum style smart contracts is not how permissionless implementation will be standardized. Smart contracts belong in the channels. Storing state on-chain is unnecessary and expensive.
Quote from: psztorc on May 24, 2016, 01:44:49 AMA good metaphor is starting your own business. Anyone can start their own business, yes. But you should not be able to barge into someone else's pharmaceutical research laboratory and take photos of everyone's notes, and whatnot.
QuoteThe parasite prevents the real oracle from scaling up -- it can only guard a small amount of value. So it will never truly be useful.
QuoteOne kind of trust is cheap for a computer to create, and extremely useful. The other kind of trust is extraordinarily expensive for a computer to create, and trustlessness would marginally add almost no effectiveness. Each day, people eat in restaurants without paying...until the very end. Or they purchase something online, and pay upfront (and wait -with trust- for it to be shipped).
QuoteOh, so you agree that there are problems? : )
QuoteMiners do not need to "foresee all problems". They merely need to listen carefully to developers complaints, and refuse to incorporate anything which does not get widespread developer support. Because this filter would work, probably no malicious developer will bother trying to write anything which is clearly problematic.
QuoteIt is the reverse -- Taleb makes it very clear that there is a fractal structure: something can only be antifragile if it is made up of fragile pieces. So growth / complexity requires the ability to keep things removed (which will be harder for Ethereum than for Bitcoin Sidechains).
Quote from: MattGoldenberg on May 25, 2016, 04:21:58 PMCan you walk me step by step of an example of how this works? In my mind it works like this1. Oracle R(Real) and Oracle P(Parasite) advertise their services.2. A company pays Oracle R to get it Data S.3. Oracle R gets Data S4. Oracle P steals Data S.5. A company now pays Oracle P because it's advertising cheaper prices and has good reputation.6. Oracle P doesn't have information to give and is revealed as a fraud.I see no way for this game to have an equilibrium of Oracle R's price going to $0. Oracle P can only make their move after Oracle R has gotten paid, and Oracle R gets to set the price at which it gets paid. If their are multiple companies getting the same information, it can simply set the price such that many of those companies must pay it. The only way that this game has an equilibrium of $0 for Oracle R s if you switch step 2 to after step 5.