en.bitcoin.it

Difficulty is going down for Vertcoin! :) [The difficulty always follows the price](https://en.bitcoin.it/wiki/Myths#The_value_of_bitcoins_are_based_on_how_much_electricity_and_computing_power_it_takes_to_mine_them). The price goes down, then people switch to more profitable coins. Price goes up, then people switch back. Since the price has been dropping recently so has the difficulty.

Should we stop supporting/creating new proof of work coins? From what i read so far, proof of stake can work.. Afaict, the main issue for them is the cost of cold storage, as coins are basically mining units but need to be hot to do so. Infact if they do, i think we should leave at proof of work-where the work has no ulterior use-^\* coins when possible. Minimizing people hurt by coin exodus can be done with something like like the exodus adress in Mastercoin. See also [proof of burn](https://en.bitcoin.it/wiki/Proof_of_Burn).(edit: i cant help but get disinterested by the text at length there, seems a bit too rantish to me!) If you can turn coin A into N(t) of coin B, A is at minimum worth that, and the connection can be removed by lowering N(t) exponentionally.(Being really late is going to be punished anyway, but you'd hear news when the two coins lock together anyway.) ^lazy, ^[copied](http://www.reddit.com/r/CryptoMarkets/comments/1xw2qw/mintcoin_is_pretty_cool_and_you_should_know_about/cffgqwk) The cost of people with specific mining rigs cant be fixed, but it can be limited if the possibilty transfer is anounced long before.. (edit: note: likely just a few of the existing coins would get this treatment) On the negative side, with such a transfer, any overconcentration of coin ownage will also be transferred. \* Been thinking of a scheme with 'proof of data serving' ming, which may be able to coexist with proof of stake. But i'd digress. PS: really, i expect a lot from a new coin before taking it seriously, maybe i mentally underestimate the effort into implement it. Edit: Some of them: (note, i kindah want [moar features](http://www.reddit.com/r/CryptoCurrency/comments/1x3fke/is_there_a_list_of_known_desirable_properties_and/), haha) * [Peercoin](http://peercoin.net/) claims to be the first to do so. Has whitepaper. * Nxt, seems to be one-person who talks replacing stuff like 'r' instead of 'are' etcetera. Dont care so much about that but would like t

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.

decentralizing exchanges with cross-currency transactions Distributed cryptocurrencies are beautiful because anyone can set up an exchange. This doesn't change the fact that exchanges are still centralized bottlenecks and they are subject to compromise and abuse. Can we create cross-currency protocols to remove these vulnerable bottlenecks? Exchanges provide several valuable services - gathering orders into an order book, matching orders, executing transactions on matched orders, publishing order book data, and probably many more. Can we replace transaction execution with a decentralized, cross-currency protocol? Imagine if participating blockchain-based altcoins supported a cross-chain transaction type so that a transaction was valid in one blockchain only if there's an associated transaction in another blockchain, where the two transactions express mutual constraints. Example - the bitcoin blockchain might have a "new" transaction type which says "transfer 13 BTC from 1dfblah to 12fblah only if the litecoin blockchain has a transaction from L007blah to L711blah for 666 LTC which also is constrained to match this transaction". If we could figure out the right cross-currency protocol, then exchanges between BTC and LTC for example would *no longer need to have accounts of customers money* and the customers could directly exchange cryptocurrencies *without risk*. **Edit:** Since posting this, I've discovered [the exact kind of protocol](https://en.bitcoin.it/wiki/Atomic_cross-chain_trading) I was hoping for.