NVO Decentralized Exchange - Crowdsale

why this page is not working? http://www.veserus.com/about.php

Because of the crowdsale we talked about veserus, some guys wanted to send coins and use it, this is why i decided to put it down, refund people and explain them that it is still in development.

@svisstack

The validator processing will update the order book and then process the transaction as at this point, the order is either processed or cancelled on the orderbook side. On the user side, the transactions are either sent or cancelled.
The delay could be due to propagation issue, or update issue, even there, if there is any problem the validators will do their work and cancel the orders.

@all
I am sorry for today, i’ve been slow to answer you, finally i got tired. need some rest.

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Like @BIGbtc and others I am also skeptical about the technical details of NVO’s design. RoboTeddy’s questions in the Reddit thread cut to the core of the issue, and I don’t think their questions are answered by either the whitepaper or the comments. Specifically: if the validator doesn’t hold a private key and just publishes transactions, how do you prevent a race condition? I can easily publish a conflicting transaction that gets confirmed before the validator’s transaction that takes my money. Alternatively, if the validator is to sign transactions itself as part of a multi-sig setup, then where is the validator’s private key stored? It can’t be stored on the safe network or a blockchain, because then it can be accessed by anyone (assuming the validator accesses it autonomously). Solving these problems would be a major breakthrough, and I doubt this can be pulled off in a mere 6 months.

Note that I’m speaking here as an individual, not a MaidSafe contractor. My opinions do not necessarily reflect those of MaidSafe and I make no claim to represent anyone other than myself.

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If anybody can access the content i put on safeNet, there is no real usage for safenet, except file sharing, streaming and things like that as megaupload was.

What i mean, is that a separated private access for each validator instance on safenet. We count on NFS to manage this kind of access, or will it be modified too ? i would really appreciate to get that information as you work with maidsafe apparently.

No wories, even if you talked on behalf of maidsafe.

https://maidsafe.readme.io/docs/nfs-get-directory#section-response

It’s not true in general that anyone can access what you put on the SAFE network – people’s private files are encrypted with a passphrase that only they know. My point is that if you have a validator deployed as a smart contract, it would need to hold a decryption passphrase (or account credentials or whatever) in order to decrypt the data it has stored… and it’s an infinite regress problem: if you try to store the credentials encrypted on the network, then you need somewhere to store the decryption key, and if you try to store that decryption key, then you need to store its decryption key and so on… The easiest way to break the chain is to have a human hold a master password (in their head or locally on their computer), but that isn’t decentralised.

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To be clear, the recommended usage of the SAFE network is exactly as I’ve described: each user knows their account secret and passphrase and can use these to access their data.

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Yeah thanks for saying that, I never felt like those questions in the reddit thread got answered.

And it would be an amazing breakthrough, but it sounds like this group doesn’t have the answers for it. Not to blame them, as it would be a crazy feat for any person / group. But then there’s the issue of everyone’s money…

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It looks like the most promising approach for decentralised exchange of Bitcoin and its derivatives is the Lightning network. This article has quite a good explanation: Cross Blockchain Trades? Lightning Gives New Life to Atomic Swaps - CoinDesk

But yes, I’m also concerned about all that money… hopefully the NVO guys can do something useful with it.

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So someone from Maidsafe rather call us scammers before trying to contact us to understand in more details of what we are trying to build. Just woke up Yanni to reply, but he is angry that not only you don’t understand what our project is about, you called us scammers.

Anyway I hope you have everything researched to backup all your statements. It takes a lot to represent a company and call people scammers. We will be replying when Yanni is up. He only slept for 2 hours so far so we can reply to your post.


@Nigel, When our project was posted we sent the whitepaper and a short summary about the project to David Irvine and asked for feedbacks. Although David himself said he hasn’t read it he said ā€œsomething like this is definitely doableā€. It takes a lot for someone representing Maidsafe to call everyone of us scammers and fully intend to make a big scene out of this on Twitter and on the forum.

We will be replying shortly.

I was not mistaken about what I posted./nfs/directory/:rootPath/:directoryPath/
If there is a trade, the validator will create his addresses and his private key, he will store it on maidsafe, he will keep the key of decryption temporarily the time that the trade is finished, or canceled or refused. There will be no human entity to access his key, because everything will happen at his level.
To continue with your method of reflection, the validator will be imported on each wallet, this part can not be modified because it is copied like a kind of blockchain, without being a smart contract or a website, it will be Halfway.
The validator will be distributed as a blockchain, these copies could be assimilated to the operation of a smart contract, it will have the operation of a website, because it will be interfaced on the wallets.

We chose to create a project using the Safenetwork as supporters out of respect for the project. You didn’t let us explain before broadcasting on twitter.

I have accepted SafeNet, and I really appreciate your project, but not your way of doing it, because I would simply have compiled the validator with nodejs and I really would not need to start on SafeNet. I ask you to continue the debate with me, at its outcome, I would accept your reflection whether it is negative or positive.
I had the solutions to do it without safenet, but it is the philosophy of NVO that is to use the blockchains, as well as my word has which I want that push me to do it, without forgetting the respect i have towards safenet.

Hey, firstly, I’m not representing MaidSafe, if you read my original forum post you’ll see that I said:

Secondly, by taking it personally when people criticise your project or suspect it of being a scam, you do nothing to convince anyone of the contrary. I’m willing to be convinced by technical details, and I also have an open mind that a decentralised exchange is possible. I just don’t feel that millions of dollars of funding are justified by the level of detail that you have provided so far. If we just assume that all problems are solvable by anyone, then I could start a crowdsale for ExcitingCryptoProjectX tomorrow and raise money on the promise of solving the fundamental problems of building ExcitingCryptoProjectX. However, that would obviously be ridicilous. It’d be better if I made a prototype of ExcitingCryptoProjectX, released it publicly and explained how it worked, and then started fundraising.

Maybe I was wrong to use the word ā€œscamā€ in my Tweet, you could just be naĆÆve. But the end result is the same – millions of dollars paid for no real substance.

I tweeted that, and posted this morning, because I feel that what you’re doing is at least slightly deceptive.

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Ok, let me try to understand this. What type of thing is the validator? Is it a program running locally on the wallet user’s computer? A smart contract? A program running on a server somewhere?

Could you please elaborate on this part? Or just answer the first question, because I suspect by answering my first question this part might become clearer…

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After seeing your activities while representing a company, I doubt the existence of a HR in maidsafe. This type of behaviour is not acceptable in any workplace, as businesses may sue for defamation when false statements are made about their businesses or reputations.

Now I doubt you are stupid enough to accuse people of being scammers when you are working for Maidsafe, so I have to think it’s Maidsafe itself that’s calling us scammers.

Again, I’m not representing MaidSafe. I am honestly ā€œstupid enoughā€. I thought maybe in the wonderful decentralised society that we’re all building you would understand that I’m capable of speaking as an individual. It’s ok for people to disagree, even within the same company, and it’s ok for people to change their minds on things. Criticism and debate can only help to improve the robustness of the technology.

I am happy to engage in a technical conversation.

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There’s a difference between criticism and calling people scammers, that is an accusation. Don’t underplay what you did since you are representing a company that built this community and the network we are using for our project so whatever you are saying will represent the company even if you say it doesn’t.

If you wanted to engage in a technical discussion you could have asked us properly instead of making that tweet accusing us of being scammers before we even have a chance to reply anything.

Who made these rules guys? :slight_smile: You ? :slight_smile: Some international trading law authorities? :slight_smile: Or is this some kind of cyber-samurai ā€œfair moneyā€ play codex? :slight_smile: Are you going to sue all the world because the world does not follow some interplanetary laws established by misterious interplanetary commission? :smiley: Do you even understand what social shift is making Maidsafe? It’s pity that you have no grasp about Maidsafe culture and have started ICO on Maidsafe supporters shoulders. I guess you guys are hunting new beast called uniHorn :wink: instead of unicorn :slight_smile: .

Hope you soon leave and never come back to raise any money here.

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:grin:

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Here are the first 10 Q&As. If you have any more question let us know so we can answer them.

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I went from willing to invest 100 BTC, to 50 BTC, to 10 BTC, and now I don’t think it is even worth investing 1 BTC.
This project has red flags all over.

Good luck, I am not gonna waste more energy doing due diligence.

If I were an equity investor I would set the following condition for my investment: ditch tonbi and find a new cofounder.

No offense, but tonbi is not the right choice to lead this project.

Regards

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