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Max Kaye

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About Max Kaye

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    Treasurer, Bitcoin Association of Australia

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    Sydney, Australia
  1. This is an announcement thread for the Bitcoin Association of Australia. Each announcement will be a reply to this thread, and it will be locked by a moderator to ensure purity of content (as such). If you'd like to discuss an announcement please start a new thread. Table of Contents: Intro from Max (Linked because it's not official).
  2. So, where is everyone from Australia?

    PING Max 56(84) bytes of data. 64 bytes from Max: icmp_seq=1 ttl=64 time=2629745831 ms Worse than IPoAC. Hopefully we'll be a bit better in future.
  3. Hello Everyone, Max here from the Bitcoin Association of Australia. As most of you probably know, BAA is the Australian affiliate of the Bitcoin Foundation. To begin with, some details about how we currently operate: We are an incorporated association under Australian law, registered in NSW. (We can still operate in every state, though) The board has no official positions besides the four required by the constitution: President, Vice President, Treasurer (me), and Secretary. We're open to introducing things like industry seats or the like (as the Foundation has), if you have suggestions on that, please let us know. The constitution is a modified version of the boilerplate constitution offered by the Office of Fair Trading. Some of the modifications are to allow a distributed board (not having to meet in person), and other administrative things, and some are to give us more flexibility and 'update' the outdated template (we don't mail things, for example, and everything is electronic). All members have a right to see the constitution, and we're in the process of converting it to Markdown to put it up on our Github (github.com/BitcoinAus and github.com/BitcoinAustralia are both under our control - one is a user and one is an organisation). [if you want to help with this, let me know! It's currently in google docs format] We meet every Tuesday evening (tonight is our next meeting). The board can be contacted at [email protected] There is a PUBLIC mailing list at [email protected] - we're in the process of migrating to google apps so we'll have more private distribution list options soon. If there's any Aussies out there who'd like to know more, please let me know, and I'll add it to the list. I'm also going to create an ANN thread (stickied (if the mods are nice), no comments, etc) so we've somewhere to put important announcements. We're in the process of trying to get subcommittees set up to start tackling the things we have resources for. At this stage there's plans in the areas of Legal/Regulation, Education, and Community events (anything from meetups to conferences). At least four of the seven current board members will be present at the Bitcoin Barcamp being held in Sydney on Saturday (15th March). Our website is https://bitcoin.asn.au and our donation address is 1BtcAus9WKuHr2C84FcRV5xJMTDqZ34dZE. I can be reached personally at [email protected] Cheers, Max
  4. Grieving Sydney mother

    I really don't think it would be a good idea to get involved in this. This isn't a big movement and it is patently ridiculous. Most of the comments are about the '45 banking act banning 'private currencies' and some other irrelevant things. Furthermore it's obvious neither she, nor anyone signing has the foggiest about Bitcoin (people don't seem to get encryption is about hiding information, Bitcoin is about making it public, and the protocol has no concept of encryption). In any case, I think this is exactly the type of thing to stay out of because getting involved would give it weight. If a court case is brought against Jeremy then we'd certainly reach out to him. As a personal addendum: this is why harm minimisation, drug control (as in quality), and education are so important; but those are issues for another day.
  5. Foundation opens Chapters in Canada and Australia!

    Hey Todd, Thanks for the welcome! We're setting up some segmented sections now for Australian specific conversation. (Link: https://bitcoinfoundation.org/forum/index.php?/forum/24-australia/) It took a while (months!) but it's great to finally get things finalised. Cheers, Max
  6. Grant Proposal - Marketcoin community infrastructure

    Morning Adam, I agree with you to some extent, this maybe isn't what the Foundation was looking for, but it is, at least, something they've found. At the end of the day it doesn't bother me whether the proposal is accepted or not. Don't get me wrong, I'd prefer that it was, but I think it will have benefits for the community regardless. One of the comments that Peter made about the first round of applications was that they didn't really know what they were looking for and that they can two large categories of submissions: What you've mentioned, low potential return utilities for Bitcoin itself Business ideas Marketcoin is neither, and regardless of whether it is accepted or not it will help define the boundaries for future grants, something that helps the community, even if it's only peripherally. We need information about what grants have been submitted, whether they're accepted, etc; at the moment we don't have much knowledge about this so think of this proposal as an 'exploratory proposal'. Also, it's only a small amount (I paid 25 BTC for my membership) so it might be worth the Foundation having an experiment. On the other hand, perhaps Marketcoin itself is something they'd fund, but not the community infrastructure. Either way, we'll all learn something. The Foundation needs proposals that are innovative, interesting and novel; they can't keep giving grants to faucets and testnet web wallets, hopefully this will be the first in a long line of innovative and novel proposals. I completely understand why you don't think the foundation should fund the proposal, and I'm almost leaning that way myself, however, I'm not at a stage to ask for development funding and this seemed like a good compromise. The foundation may come back and say 'we like the idea, but show us something first', or 'not what we're looking for now, but hit us up next round', etc. We'll just have to wait 6 weeks to see Cheers, Max Edit: wow, smilies really show up here, removing some so I don't look 12.
  7. Original: https://github.com/X...osal-Q2-2013.md If anyone has any feedback in the next 24hrs please post it. I might be able to update the proposal before the deadline (though I don't actually know if this is possible)
  8. Is Anyone Here Working on a P2P Exchange?

    I do not believe there would be any way to directly involve fiat in Marketcoin. I do not believe there is any possible way for trustless exchange of fiat. However, I do think pegged cryptocoins will begin to appear shortly (I'm thinking about setting up something like this for Australia; managed by a not-for-profit that holds at least 1 AUD for every 1 AussieCyptoCoinThing that is issued.) The real issue with getting money into Bitcoin, is not actually getting it into Bitcoin. It is getting it into cryptocurrency. Once you have the unique properties of cryptocoins on your side (irreversibility mainly) exchange between chains becomes trivial (as BTC-e shows - I'm not talking trustless here, just fast and easy). By creating AussieCyptoCoinThing, if people have these, they could easily use Marketcoin to trade into Bitcoin. Basically, Marketcoin requires a PoW chain to merge-mine with, allowing proof-of-payment to be verified without a third party. A pegged cryptocoin has these properties, and I think this is the best way of moving forward in the interim. Not only does it mean AUD/USD -> BTC conversion is easier, but if I start carrying around Australian Dollars on my phone and paying people with this (outside of the banking system), it becomes disruptive to the status quo, and people start to pay attention. I'll be running for the Australian Senate in three years if everything pans out, hopefully they can use a little kick from the inside to begin moving towards a cryptocurrency style monetary systems (not to mention allowing and encouraging alternate currencies). Fiat requires trust somewhere. Ripple has a large trust element, as will AussieCyptoCoinThing (because you'll have to trust the not-for-profit issuing the coins). The difference is Ripple's exchange system requires trust, Marketcoin requires no trust, but AussieCyptoCoinThing and other pegged coins require trust. Correct and I agree. However, I do not believe there is a solution. As an analogy, how would you send data between an abacus and your smart phone? You could use image recognition software, or have some kind of robotic arm to 'read' the abacus, or perhaps you get a human to read the abacus and input it into the phone via text or some other mechanism. Point is there is no native way to interface between these two technologies. The abacus is just too fundamentally different from a smart phone for any easy method of communication. This is the difference I see between fiat and cryptocoins; there is just fundamentally no way to link them without some trust somewhere. You might be able to develop more and more complex systems to try and mitigate this, but ultimately you'll always need trust. (Please, someone, prove me wrong! It would be fabulous if someone could). I don't even want to deal with fiat -> cryptocoins; the only reason I'm pursuing the AussieCyptoCoinThing is because someone has to, and it will help to some degree (even if it only gets a client out there which can be used for such things).
  9. Is Anyone Here Working on a P2P Exchange?

    I am working on something like this currently. The only exception is point 5: Have three-user (trustless) trading, so a non-interested 3rd party always hosts the trade between the buyer and seller. (And should provide Escrow too!)) Marketcoin (the name of the system) doesn't require three-user trading for trustlessness. It wouldn't be difficult to implement though, I suspect. Marketcoin is required to be a new cryptocoin; I've looking into the chain-trade style setups, and there seem to be issues. Introducing a new cryptocoin allows these issues to be solved because we can make the new network have rules that eliminate these risks. (IE: after the orders are matched the onus is all on the buyer; the worst that can happen is the buyer sends the altcoin but doesn't redeem the marketcoin and they are returned to the original owner, furthermore, as marketcoin is a new blockchain, we can force it to take the risk to enable trustless exchange) Note that Marketcoin is only compatible with Cryptocoins; however, pegged cryptocoins are also compatible. I'm planning on starting a not-for-profit that issues something to this effect in Australia. Github: https://github.com/XertroV/MarketcoinWhitepaper Bitcointalk Thread: (didn't get much attention) https://bitcointalk.org/index.php?topic=198032.0 I haven't done a good job on the layout, but I'll elaborate a bit on the 6 points here to hopefully get a little more clarification out there: A P2P Distributed Exchange MUST: 1. Be without any central points of failure, since a government or two WILL be coming after it one day. I suggest a Bitorrent-like software schematic. Based on a PoW blockchain and is as decentralised as Bitcoin (it will be forked from Bitcoin, after all) Thus inherits properties of Bitcoin relevant to this point. [*]2. Show everyone a very large number of possible trades to choose from, (thousands?) so assets can form a stable price. (e.g. a Bitcoin is going for $120) Number of trades is basically volume. Marketcoin (the exchange) will inherit this as the network matures. (Just like any other exchange). On this note, the same scaling issues are present in Marketcoin as in Bitcoin, and it will have similar transaction capacity. [*]3. Transact trades pretty much INSTANTANEOUSLY, so when you're watching a graph and want to trade at a very specific time you can do so. (This is extremely important for arbitragers and other traders who help keep the price fluctuation down.) The successful finalisation of a trade is probabilistic as it is in Bitcoin. Required steps: broadcast order, order is confirmed in block, payment made on altcoin network, payment confirmed in a block, finalisation broadcast on Marketcoin network. After this control of the disbursement of the Marketcoin funds (kets) falls to the buyer. I suspect the average time taken for trades will be 10-20 minutes or so. (5 minute blocks on marketcoin, requires a conf from altcoin network, then broadcasting the finalisation on marketcoin network; can be very fast, but higher risk, the converse is also true) [*]4. Offer Graphs and APIs for for graphing like MtGox does. Getting market history is as trivial as getting past history in Bitcoin. The Marketcoin blockexplorer *is* the equivalent of BitcoinCharts. Charts will probably be built into the client too, though this isn't the most crucial priority. [*]5. Have three-user (trustless) trading, so a non-interested 3rd party always hosts the trade between the buyer and seller. (And should provide Escrow too!) See above. This is not required but is possible (I suspect, since Marketcoin will inherit many of the scripts of Bitcoin (opcodes and whatnot)). In some frames of reference the network itself is this third party. [*]6. Hold and transfer VALUE, not just IOUs. (With Cryptocurrency this is easy... With fiat? Not so much.) Trades involve real transactions of Altcoin and Marketcoin. For kets to be redeemed proof of payment (a standard transaction) must occur on the Altcoin network. Work on Marketcoin is slow at the moment; I'm working full time and am trying to do what I can where I can. I'm also trying to be as transparent as possible as this provides the best chance of a successful launch for a new cryptocoin. Furthermore, for it's longevity it needs to get the market structure and dynamics right from the get-go, which is exactly why it can't be monetized.
  10. Currently, I know of no centralised or reliable method of distribution for academic articles relating particularly to Bitcoin - besides the wiki. It seems to me that the community might benefit from a community run not-for-profit organisation that gathers, reviews and distributes such articles. I'm considering writing a proposal for a grant to start a small online Journal that fulfils this purpose. Before I start, however, I wanted to gauge whether anything thinks this is actually needed or beneficial. I've done a little research and it seems to be a fairly cheap undertaking (on the order of $300 or so) to start a simple journal - that includes DOI numbers and the like. To me this seems like something that will not only lend credibility to Bitcoin and Bitcoin-related research, but also help to foster a research culture - hopefully inspiring research and lowering the perceived entry barrier. There are obvious implementation concerns, but at this stage I feel the validity of such a project is of more concern. Anyway, thoughts?