/biz/ - Business & Finance

http://cryptocoinjunky.com/mt-gox-creditors-prepare-claims-for-bitcoin-repayments/

>MtGox
>3: Claims for return of bitcoins (BTC) will be repaid in BCH.
>This is for simplicity and efficiency, avoiding bank transfer fees and allowing creditors to receive payment in the same currency they lost. The proposal also suggests that any altcoins (coins other than BTC or BCH) held by the trustee be liquidated for transfer.

L O L. I'm all in on Bitcoin Cash but surely this can't be true?

>the BogHex
Audibly kek’d

>>9134876
TC gives you fidelity of data, the information requested exactly as it's stored. In that sense, there's no difference between centralized or decentralized. But how are you getting that data and from where?

Now, let's say you're in a contract with someone and he pays you 10 XRP for mowing his lawn each month. You would prefer to be paid in something else because you don't really like the whole crypto thing and it's not very stable, you don't know how many anime figures 10 XRP will be next month. So instead you let an oracle decide the conversion rate and he gives you anime figure tokens instead. The problem is that you're mowing the lawn of someone with 4 pools in his house and he considers you an insect. You don't really have room to negotiate. So he can tell you that you're going to use his high fidelity oracle that looks at the price on his exchange and everything is on a blockchain he's supporting. If you don't accept he'll find someone else to do it because you're a tiny person and in his eyes barely human.

If you're someone who also has 4 pools in his house, then it gets more interesting. Because you both have your own oracles you want to use and that give you the right price but both of those prices are different. So then you can use the average price of exchanges, without any of you knowing which exchanges are going to be used beforehand. Then you can look at that average price after discarding outlier exchanges in a way you've both agreed, maybe taking anything that goes over the range of the price that both of your oracles want to use or doing something with monthly volume or whatever. It can get as complicated as both of you want, it doesn't have to be an average, and maybe there's a penalty if your centralized oracle used for range rejects everything but your oracle and a couple of other. Whatever you choose, now you have created an anime figures futures market and you can also allow tiny people to trade that with 300x leverage.

>>5656023