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Author Topic: Price speculation  (Read 4214299 times)

Daedelus

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Re: Price speculation
« Reply #7180 on: July 28, 2014, 12:38:29 pm »

Isn't the following true: The Smart Contracts CfB and James are talking about are off-blockchain.

No. Smart Contracts will work on-chain.

This. Don't confuse CfB's crazy ideas with James' crazy ideas.

I lol'd   :D :D It's hard keeping up with what all these crazies are babbling about  ;D
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ChuckOne

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Re: Price speculation
« Reply #7181 on: July 28, 2014, 03:45:30 pm »

Uh, ok I see. Confusion indeed. Someone mentioned Ether on the Turing-complete story.

So there were other off-chain projects about Smart Contracts, no?
What is the difference of CfB's project to NXT AT? Could we maybe pick a working-title for it?


Edit: Also just thinking about my "Ether is the 100% premine everyone loves" idea. If they use any of the funds to buy Ether themselves, isn't it a pyramid scheme then?

I don't understand everything myself;

AT: on-blockchain, in core, (nearly) everything you want everything that is possible
SC: on-blockchain, in core, specific types of transactions which are hardcoded into the core like castrated AT, but sufficient for majority of use cases, more elaborate use cases will be handled by AT
Tradebots: off-blockchain, not in core, only for bots but you can do everything you want scripts but you can do everything that is possible like AT

FIFY.
« Last Edit: July 28, 2014, 03:47:34 pm by ChuckOne »
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ChuckOne

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wesley

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Re: Price speculation
« Reply #7183 on: July 28, 2014, 03:54:45 pm »

Let's call the smart contract language Castrata.
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Come-from-Beyond

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Re: Price speculation
« Reply #7184 on: July 28, 2014, 04:02:36 pm »

SC: on-blockchain, in core, specific types of transactions which are hardcoded into the core like castrated AT, but sufficient for majority of use cases, more elaborate use cases will be handled by AT

This is an incorrect statement. SC r not Turing-complete but this doesn't mean that SC can't do something that AT can. Check my most recent tweet and u'll get why it is so.
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ChuckOne

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Re: Price speculation
« Reply #7185 on: July 28, 2014, 04:04:34 pm »

SC: on-blockchain, in core, specific types of transactions which are hardcoded into the core like castrated AT, but sufficient for majority of use cases, more elaborate use cases will be handled by AT

This is an incorrect statement. SC r not Turing-complete but this doesn't mean that SC can't do something that AT can. Check my most recent tweet and u'll get why it is so.

I do not understand. SC will be able to handle a subset of a Turing-complete language. So, of course SC can handle some use cases but not all.

Maybe, I expresses myself not well enough.
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frohlocke

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Re: Price speculation
« Reply #7186 on: July 28, 2014, 04:06:47 pm »

Let's call the smart contract language Castrata.
Maybe there is a short form of that  :)?
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Come-from-Beyond

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Re: Price speculation
« Reply #7187 on: July 28, 2014, 04:06:57 pm »

I do not understand.

http://en.wikipedia.org/wiki/Hypercomputation

More info will be provided in the article about Nxt Smart Contracts. I'll be one of the co-authors.
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ChuckOne

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Re: Price speculation
« Reply #7188 on: July 28, 2014, 04:09:35 pm »

I do not understand.

http://en.wikipedia.org/wiki/Hypercomputation

More info will be provided in the article about Nxt Smart Contracts. I'll be one of the co-authors.

I see where you are coming from. :D

I look forward to your paper.
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bitcoinpaul

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Re: Price speculation
« Reply #7189 on: July 28, 2014, 04:10:37 pm »

What, AT is outdated already?
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2Kool4Skewl

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Re: Price speculation
« Reply #7190 on: July 28, 2014, 04:24:07 pm »

What, AT is outdated already?

AT is soooo June 2014....
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Come-from-Beyond

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Re: Price speculation
« Reply #7191 on: July 28, 2014, 04:27:45 pm »

AT is soooo June 2014....

AT is still useful coz some tasks r more efficiently solved with imperative programming.
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Daedelus

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Re: Price speculation
« Reply #7192 on: July 28, 2014, 04:35:56 pm »

"super-Turing computation"


Alert the media!
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Mexxer

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Re: Price speculation
« Reply #7193 on: July 28, 2014, 04:43:10 pm »

I'm confused ...

what does "super-Turing computation" has to do with SC?
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Daedelus

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Re: Price speculation
« Reply #7194 on: July 28, 2014, 04:44:10 pm »

I'm confused ...

We all are  ;D (except the crazies)
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Peter2516

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Re: Price speculation
« Reply #7195 on: July 28, 2014, 04:50:59 pm »

It's all just a big Enigma to me... tee-hee! :P
http://www.imdb.com/title/tt2084970/
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Come-from-Beyond

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Re: Price speculation
« Reply #7196 on: July 28, 2014, 05:07:43 pm »

what does "super-Turing computation" has to do with SC?

I'll try to explain in plain English:

Vitalik took the idea of Nick Szabo and implemented it in an imperative language, so he got Ethereum that is a machine executing smart contracts. This is one and the most obvious way of smart contracts idea development.
BCNext took the idea of Nick Szabo and implemented it in a functional language, so he got Nxt Smart Contracts that is one of many features of Nxt. This is another way, which may look illogical to someone (because Nick Szabo used an imperative pseudo-language to explain his smart contracts). BCNext's approach has an advantage (theoretical one, coz Turing machine and a machine that does super-Turing computations are both impossible in the real world) - Nxt SC can do super-Turing computations.

Something like that. :)
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DoM P

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Re: Price speculation
« Reply #7197 on: July 28, 2014, 05:10:41 pm »

what does "super-Turing computation" has to do with SC?

I'll try to explain in plain English:

Vitalik took the idea of Nick Szabo and implemented it in an imperative language, so he got Ethereum that is a machine executing smart contracts. This is one and the most obvious way of smart contracts idea development.
BCNext took the idea of Nick Szabo and implemented it in a functional language, so he got Nxt Smart Contracts that is one of many features of Nxt. This is another way, which may look illogical to someone (because Nick Szabo used an imperative pseudo-language to explain his smart contracts). BCNext's approach has an advantage (theoretical one, coz Turing machine and a machine that does super-Turing computations are both impossible in the real world) - Nxt SC can do super-Turing computations.

Something like that. :)

:D There's a long way to go before this can be understood by the average banker...
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Come-from-Beyond

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Re: Price speculation
« Reply #7198 on: July 28, 2014, 05:15:27 pm »

:D There's a long way to go before this can be understood by the average banker...

No need, just tell them that SC could do super-Turing computations. It's obviously better than Turing computations offered by Ethereum.  :D
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ThomasVeil

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Re: Price speculation
« Reply #7199 on: July 28, 2014, 05:18:33 pm »

what does "super-Turing computation" has to do with SC?

I'll try to explain in plain English:

Vitalik took the idea of Nick Szabo and implemented it in an imperative language, so he got Ethereum that is a machine executing smart contracts. This is one and the most obvious way of smart contracts idea development.
BCNext took the idea of Nick Szabo and implemented it in a functional language, so he got Nxt Smart Contracts that is one of many features of Nxt. This is another way, which may look illogical to someone (because Nick Szabo used an imperative pseudo-language to explain his smart contracts). BCNext's approach has an advantage (theoretical one, coz Turing machine and a machine that does super-Turing computations are both impossible in the real world) - Nxt SC can do super-Turing computations.

Something like that. :)

Well, siding with the safe majority: I don't compute :D
...but I for sure know that Super Turing sounds powerful! We have to use it in the name - how about: Hytus - for Hyper Turing Scripting ;D
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