Ron Paul Atreides posted:

the crash

quote:

Bitcoiners and transhumanists are cut from the same cloth.

MORE CURLY FRIES posted:

atlas is already immortal

Erenthal posted:

it was the secret purpose of the woolong device all along

Sentient Data posted:

that greek-worded facebook likker.

Azathoth posted:

isn't he like legit crazy? is there a chance this is true or is he just off his meds?

Greyhawk posted:

bitcoin convention - fetish meet up

surebet posted:

uh, you'll have to be more specific...

quote:

Factom

“Factom does practically nothing,” CEO and lead developer Paul Snow is fond of saying. Instead, it provides a service that other dapps can utilize to keep and authenticate records.

Ever digital image, sound, video, document or file of any kind can be broken down into numerical data (1s and 0s, if you dig deep enough). Factom uses a distributed network of servers to collect and put them through a hash function, a mathematical process that combines and converts them into a single numerical value. This is then inserted into the Bitcoin blockchain via a transaction.

In math, the same input into a function always results in the same output, just like 1 plus 1 is always 2 in the traditional (base 10) system. You can’t inverse a hash function and get your data back from the hash value, but if somebody doctors and provides false data, you will find out when its hash value produced by Factom fails to equate to the original.

This allows you to protect against financial fraud and embezzlement, preserve old cryptocurrencies that have lost their mining power, or secure the Internet of Things on the blockchain without bloating it to an enormous size. Making these entries to the blockchain requires Entry Credits, which only Factoids can produce.

Unless you’re running a Factom server–which get rewarded for their service–you’ll need to buy some Factoids (or Entry Credits, if you don’t want to touch cryptocurrency) before you can get to hashing. Just like AMPs increase in value as more users join the Synereo network, Factoids will increase in value as more people want to use Factom’s service, making them a potential speculative opportunity.

The Factoid ICO starts March 31st at 3 PM UTC, and lasts for 45 days. As many initial tokens will be generated as users or speculators are willing to buy during that period. The process will occur on the Koinify platform, which gives Factom the coins 1/3 at a time as they complete milestones like the deployment of their beta client, their front end and first serves, and finally a functional network.

jre posted:

surebet posted:

im not pro tier infosec like some of you guys but isn't this just a dude charging money to keep a file name and md5 in the cloud the blockchain?

surebet posted:

im not pro tier infosec like some of you guys but isn't this just a dude charging money to keep a file name and md5 in the cloud the blockchain?

quote:

In math, the same input into a function always results in the same output, just like 1 plus 1 is always 2 in the traditional (base 10) system. You can’t inverse a hash function and get your data back from the hash value, but if somebody doctors and provides false data, you will find out when its hash value produced by Factom fails to equate to the original.

TVarmy posted:

nothing like a failed pump to start the dumping.

jre posted:

yep, also has never heard of hash collisions apparently


Better class of diagram than the Synereo white paper

jre posted:

yep, also has never heard of hash collisions apparently


Better class of diagram than the Synereo white paper

jre posted:

QuarkJets posted:

The Something Awful Forums > Discussion > Serious Hardware / Software Crap > YOSPOS > bitcoin: every site we set up gets seized.

jre posted:

surebet posted:

if i read this right it's a self-serve service, so screw hash collisions, i can't wait to see someone flipping in the file index trying to find which version of bitcoinipo.doc is actually his

Herman Merman posted:

if you use a decent cryptographic hash?

Boxturret posted:

you'd think they'd be good at that stuff since satoshi invented cryptography

evilweasel posted:

i forget which version of the attention economy it was where eripsa was advocating for people on twitter to monitor your resource use habits and determine if you were using too much toothpaste and punish you for it as his way of making communism work, but that was my favorite

quote:

A popular scheme over the past few years on forums has been a very simple Ponzi scheme aimed at members of gaming forums, hardware acceleration forums, etc. There was a user on TCF who was semi-known and semi-reputable. He posted a scheme that looked something like this (original post gone) on the forum:

[...]

...users then signup for option 2, a little at first then bit by bit more and more.

Here is the ultimate irony of this Ponzi scheme. Were you to go to the section of TCF where all those lovely tutorials are for sale (just as they are now on Evolution market) one of the tutorials for sale for a few hundred dollars was 'How to make $10,000 per month'. The tutorial was an exact description of how to run this Ponzi scheme, word-for-word pasted in introduction section, the terms to use to make it appear like you know what you are talking about with trading (the guy who ran this scheme on TCF was an unemployed web designer) how to find the 'winning' stocks for Option 1, how to convince people to part with their money etc.