Community Directory

Re: Want to hear more about LTBc from Adam himself? Listen to the new Bitcoins and Gravy Episode #25

thanks for all the kind comments guys.

Re: Shows missing download button on Soundcloud!

@cryptonaut, now that we're hosting our own downloads can we have a "download directly" link automagically in each post with audio?

Re: Dogeparty! Counterparty on the Doge Blockchain! Proof of Burn? Or Proof of Charity?

@therealtwig @adam Thank you for your hard work! I love how Counterparty used proof of burn and think it was a very clever solution. However, like you mentioned, I too have always been troubled by all that value wasted that could have gone towards other uses.

Therefore, I instantly gravitate towards your proof of charity solution. However, I was going through the reddit thread and read a comment from what appears to be a reference client dev "rnicoll" that is an interesting counterargument...I will paraphrase below:

...However... I'm going to be contrary and say I think Proof of Burn is a better idea universally. Proof of Charity effectively means having your cake and eating it; the coins are spent but also still exist, and new coins exist representing their old value. Proof of Burn is a much more elegant solution where the value is destroyed and created, rather than risking dilution.

I personally don't view dilution as a bad thing with something like Dogecoin, where some 100,000,000,000 will be in existence. I mean, what is burning 1,000,000,000 really going to help with there will be so many more left? I am just curious if you actually view dilution as a valid argument against the proof of charity idea?

My issues with PoC are almost all logistic. It is much much easier and cleaner to simply do PoB, and the way we have proposed to do PoC isn't the definitive solution.

I do not view dilution as a valid concern - the issue is creating opportunity cost for the person generating XDP, so it doesnt matter who gets the tokens so long as it is not the person giving them.

Re: How Counterparty Assets Make an Online Community Thrive

Great to have an outsiders perspective, thanks for your kind words. About your final paragraph, I sorta feel like you're throwing the baby out with the bathwater.

2100 bitcoins wasnt the goal of the burn, they would have been fine if people had burned two or three, the point was how much are you willing to throw in the fire when it's time to make the commitment.

Re: Doge XBC coin (something)

Thanks for your comment - I had a similar conversation with Tim Swanson earlier today I'll share here

Tim Swanson: bro

Tim Swanson: Dogeparty is open to attack

Tim Swanson: when dogecoin gets hit by a 51% attack

Tim Swanson: it'll impact XDP

Adam B. Levine: yep

Adam B. Levine: my thesis is that we can generate meaningful miner support behind it with a token layer on top

Adam B. Levine: it provides a reason where otherwise there isn't one

Tim Swanson: but miners dont get paid any extra for that

Adam B. Levine: worst case we'll create a token on dogeparty that is honored in some way by the platform or surrounding services that are given to miners in place of doge

Adam B. Levine: ;)

Tim Swanson: there is nothing in the protocol to change the coinbase

Adam B. Levine: we don't need to

Adam B. Levine: its just about what is it good for

Adam B. Levine: again, this could fail

Tim Swanson: then there is no incentive to burn/create more hashrate

Adam B. Levine: except the one I just told you

Tim Swanson: haha : )

Tim Swanson: okay

Tim Swanson: well

Tim Swanson: i like the effort

Tim Swanson: i will cite it in my book (i'm compiling a new book)

Adam B. Levine: where we create a token that is valued within the ecosystem we create, that is rewarded to miners based on hash rate or some trackable metric, blocks found probably

Adam B. Levine: its a problem we eventaully have to solve with bitcoin

Adam B. Levine: I picked doge because its at end of life

Adam B. Levine: so if we can revive it with this, it will say something about the value of it

Adam B. Levine: :)

Adam B. Levine: can't wait to read it

Adam B. Levine: you know me Tim, I just want to try all the things.

Adam B. Levine: I appreciate the bro-vice though :)

Tim Swanson: sure, you're a maker/doer

Tim Swanson: haha no prob

Re: Dogeparty! Counterparty on the Doge Blockchain! Proof of Burn? Or Proof of Charity?

@pairmike Adam, did you mean to put http://Dogeparty.io instead of http://Dogecoin.io in your post?

Thank you, I fixed it

Dogeparty! Counterparty on the Doge Blockchain! Proof of Burn? Or Proof of Charity?

http://dogeparty.io/ is launching next week, if you haven't yet listened to the intro of episode 129 I'd suggest taking ten minutes and getting up to speed

http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-129-dogeparty-and-delegated-proof-of-stake

Proof of Charity or Proof of Burn? What do you think?

Re: Would You Pay for Early Access? What about all articles-as-audio for commuters?

I'll answer the unasked question: Why also accept BTC

Because we own the content, and can set the prices we have the ability to create what I call "attractor pegs"

A peg, generally, is when you say THIS ITEM IS THIS PRICE and offer to buy and sell at that price in order to enforce it. We don't want to do that.

Instead, we'll take say a game show token - It will sell for both LTBc (1) or bitcoin (.0001) - Both are very very small amounts of value, but the LTBc amount is significantly less expensive even if you were to buy it at a market price. This means that if a person only has bitcoin and they want to maximize their purchase, they will have a good reason to acquire LTBc and purchase with that instead. In order to purchase LTBc to use in this consumptive way, they must purchase it from someone who first acquired it from us for one of our incentivized roles, or traded for it from someone who did.

Each thing like this we set up, that people actually use - where they show they are willing to pay the BTC price and others are willing to pay the LTBc price, these transactions reinforce the value of LTBc is tangible and useful in the same way as bitcoin.

Money is a confidence game, it's about making things normal. The more uses people have and the more those come in contact with bitcoin denominated prices without being tied to those prices, the more reference points the market has to judge the value, the more accurate the trade prices will be.

And the people who want to maximize their impact will be the demand even outside of sponsors putting value into the system.

Re: Would You Pay for Early Access? What about all articles-as-audio for commuters?

@malacalypse Whether it is for early access or something else I think it must only be priced in LTBc. As a user that is accumulating LTBc I need something to spend it on. And keeping everything in LTBc will help drive the economy of the LTB ecosystem. That being said I probably wouldn't pay a subscription for either early access or articles as audio content. Or at least I don't think I would. Would be great to be able to order "premium" content up on ad hoc basis vs subscription model. This would provide a way for people to dip their toes in without committing a lot up front. Would also be a way to tease people with greyed out content, which might make them more willing to shell out a few LTBc to get access. It would probably work on me :)

I suspect the majority of things we offer as premium will accept both LTBc AND Bitcoin, it'll just be cheaper in LTBc and you probably will have gotten yours for free anyhow so you dont have much cost associated with the spending.

But yes, per-piece is required.

Re: 30 Second Commercial on Chain Radio (11k LTBCOIN - 50 Airtimes)

@chainradio

@adam

@chainradio

@adam How many slots can I buy? :)

HAHAHAHA However many you want. Each slot increases in price though ;)

What will 50k LTBc get me?

45k would get you 10 56k would get you 11

Lets get 10 spread over two months? so five slots per month for two months?