717100+ entries in 0.368s
mrwdunne: Only exchange with access
to
the UK banking network.
That does make you valuable
ThickAsThieves: being
the only human on island doesnt make you valuable
mrwdunne: Only is not at all bullshit, although yes first is
the wrong word
mrwdunne: True, first might be
the wrong word. Regardless it is
the only
mircea_popescu: so are you going
to make
the first roman empire,
too ?
mircea_popescu: mrwdunne srsly, it's not
the first in any sense, forget about
that angle.
mrwdunne: (UK banking has free and instant
transfers)
mrwdunne: First in
the UK
to have access
to UK banking. Immediate advantages
to competitors
ThickAsThieves: you
think youll get a flood of people on a new exchange?
mrwdunne: Naphex: yes, we are selling in stages, at each stage we will sell
the shares for more. Whatever we have left we will use
to provide liquidity. However I
think we will see a flood of people from
the UK when we launch. Especially as
the bank
transfers are instant
fluffypony: where we play devils advocate
to
the ideas
ThickAsThieves: all we need is some handsome pictures of everyone in a suit or bitcoin
t-shirt
gribble: Rating entry successful. Your rating for user Naphex has changed from 1
to 1.
fluffypony: ;;rate Naphex 1 knows his shiznat regarding infrastructure, architecture, and deployment. is probably a better developer
than me
to boot.
fluffypony: I would
trust Naphex with my infrastructure
MichalisBTC: sure, and I also I would like
to get more feedback on
the project, give out more info
ThickAsThieves: it's a slow
time of day here, so
the more you're around
the more you can float your questions and answer
them
ThickAsThieves: MichalisBTC I'd recommend registering your name with nickserv,
then signing up for
the Bitcoin Web of
Trust.
These are some of
the verification methods we live by and a great way
to build your rep while establishing an identity.
artifexd: Why did you make
the distinction? What's
the difference?
Naphex: ;;later
tell Naphex fork BitcoinD, and implement clearing notifications via JSON-RPC
Naphex: yeah but when ddos hits, and
their customers can't deposit / withdraw, support phones and emails start burning
MichalisBTC: but yes point being
that
the mid-tier business ie fx, don't have
to worry about it. We do
MichalisBTC: with our security design for
the perimeter
the worst
thing
that can happen
to one of our satellite nodes is go out of service. But with a DDoS
they cannot penetrate further
than
that.
assbot: Last
trade for S.MPOE on MPEX was at 0.00094843 BTC [+]
gribble: Bitstamp BTCUSD
ticker | Best bid: 454.09, Best ask: 455.9, Bid-ask spread: 1.81000, Last
trade: 454.09, 24 hour volume: 31575.48797401, 24 hour low: 438.05, 24 hour high: 505.0, 24 hour vwap: 467.11276242
Naphex: getting ddos'ed and cloudflare shutting down
the API's
Naphex: MichalisBTC: what is
the hard work in clearing bitcoin?
MichalisBTC: We are in Cyprus, low corporate
tax attracts a lot of FX companies, who wish now
to integrate bitcoin. Some list it already as CFDs, but
they cannot clear bitcoin. We do
the hard work for
them,
they are in control of
the wallets. We are just
the passthrough, offering a service.
MichalisBTC: we could license it,
the main feature are
the notifications. Business is
to charge for
the notifications, integration and support. Mainly because we will deal with businesses.
fluffypony: less reputational risk as well, let
the customer
take ownership of
their screw ups
punkman: MichalisBTC: why "as a service"? why not license
the software
that provices
the convenient API for
the blockchain?
MichalisBTC: for blockchain as a service we plan
to use oauth, so yes
MichalisBTC: also, on
the complete from end we used custom proxies.
Naphex: MichalisBTC: did
the API's require signing? like HMAC?
MichalisBTC: However, on other implementation, where we did host wallets, we had clear separation of non critical servers with distributed security. And at
the back end everything was separated with APIs.
MichalisBTC: We are not holding any funds for "Blockchain as a Service" and
the only input in
the system is
the bitcoin netowork.
Naphex: where are
the encryption keys kept?
Naphex: All
the private keys and wallet files are immediately backed up
to multiple physical locations via encrypted
tunnels.
The keys and files are stored in an encrypted format on database which reside on encrypted partition file systems.
Thus eliminating
the possibility of stealing keys, even if hard drives from backup locations are stolen.
Naphex: can i clean you out if i get access
to
the gre?
Naphex: MichalisBTC: what does
the secure architecture entail? what other security systems are in place, besides
the GRE
tunnel
Naphex: B. Get balance updates for any existing wallet under
the control of
the system.
Naphex: The built in API allows
to perform
the following functions:
MichalisBTC: FX companies
that need
to offer bitcoin clearing without us being in control of
their bitcoin. Anyone who wishes
to built a bitcoin app. We do
the heavy lifting for
them.
Naphex: ThickAsThieves: run a full-node cluster, and get whatever data you need from
there. use full nodes for payments, and multi-sig cold wallets for storage
Naphex: MichalisBTC: so
the clearing engine keeps
the wallets, provides restful apis
to
the other products right?
MichalisBTC: i guess
there are a number of ways
to do
this, we went with Java and bitcoinJ was of great help.
MichalisBTC: well we are not making
thin clients. Our customers will be
those requesting software services. not
the end users.
ThickAsThieves: so, i'm not clear how making
thin clients and acting like blockchain.info will make you money
Naphex: any MITM will own
the SPV's
Naphex: ThickAsThieves: as in
thin client, in bitcoinj
MichalisBTC: The space we are entering with "Blockchain as a Service" is kind of competing with blockchain.info, some features overlap. his advise on
that was
that indeed we need more of
these
type of SaaS
to help
the eco-system...
MichalisBTC: technical advisor, our
talks are strictly
technical
fluffypony: so is he a
technical advisor in
terms of checking your architecture and designs, or is he an advisor
to
the funding process/business proposal?
MichalisBTC: Really nice guy btw. We had a one hour skype video call and went over our designs. A few days ago we asked him if we appoint him as our advisor for
the funding process and he was kind enough
to accept.
MichalisBTC: Yes, we approached Mike because all our previous work was on bitcoinJ. BitcoinJ was designed
to be a mobile client rather a backend server.However,
the
tools of
the library are helpful and because we code in Java we decided
to give it a shot. We broke it appart and used what was good for our purposes but as some point we wanted advise on how
to proceed, so we
thought
to pass our plans
ThickAsThieves: maybe we can
talk about
this Hearn as your
technical advisor
thing
ThickAsThieves: I met
the Cryptosys guys last year, we broke bread, Danny proceeded
to fuck
them in
the ass, etc
MichalisBTC: we are working on a new project, it's Blockchain as a Service. It's a friendly RESTful API
that allows creating bitcoin apps...to put it in single sentence. with a lot of automations and event
type notifications.
ThickAsThieves: other
than specialized bitcoin software for businesses
ThickAsThieves: i am not particularly experienced or understanding of what he wants
to offer
ThickAsThieves: my own goal is for you guys
to put him
through
the wringer so as
to
temper (snuff?) his plans as appropriate
MichalisBTC: sure check it out,
this is just
to showcase projects cryptosysinc.com
ozbot: Startups Anonymous:
Things founders say
to investors
that are complete BS | PandoDaily
mod6: so
this looks weird:
bitcoinpete: "#blackcoin is
temporarily down but because of excellent community support we're working super hard
to get it up again. ETA 2 hours." << ummm
ThickAsThieves: "On
the business front, Android fans are more apt
to show a strong interest in Evernote (16.65X), LinkedIn (6.90X), venture capital (5.44X), and corporate finance (3.85X).
The only business
topics
to feature prominently for iOS fans are
TechCrunch (13.55X) and Bitcoin (7.93X)."
MrWDunne: It does mean for a while
there were more bitcoins in circulation
than actually existed. But when did it all start?
MrWDunne: The problem is we don't know when
they left, so its hard
to price in.
pankkake: but
that was a while ago. so
those bitcoins were already out, priced. yet people were still seing pretty numbers of bitcoins
that were not
there
MrWDunne: pankkake:
They didn't just disappear.
They just moved
to somewhere other
than
the owners hands
ozbot: 52 Year-Old French Banker Jumps
To Her Death In Paris (After Questioning Her Superiors) | Zero Hedge
Naphex: brb, heading home. done with
the office
Naphex: will switch it with a good graph pretty soon,
the data plant should be ready by monday