Connecting Bitsquare with Internet of Coins?

Development
1

This is just a gut-level idea at this point, but I’m wondering if Bitsquare could be connected to the Internet of Coins project, http://internetofcoins.org/. As I understand, they’re developing a meta-protocol for a cryptographically secured hybrid asset that any public, permissionless, open blockchain can be connected to. I’m curious if Bitsquare’s eventual APIs would be able to connect to the Internet of Coins.

As an aside, Internet of Coins has just started crowdfunding today. I haven’t bought any of their tokens (not sure if I will), but I heard their lead developer interviewed, and it sounds like their project shares many values with Bitsquare.

2

sounds like another scam.

3

@shrike, I appreciate your skepticism in the crypto-currency space, as there have been lots of scams. In the interview I heard, the lead dev said the project is designed so that users are always in control of their private keys, and strong financial privacy is also one of their design values. I was also intrigued to know that the NLnet (https://nlnet.nl/ - The first Dutch internet provider and since 1997 a foundation that works to support and promote a more libre and open internet) is managing all the funds they crowd-fund to make sure they’re used as promised.

Having said that, perhaps you’re right. I have yet to read their whitepaper. I was simply intrigued by the concepts in the interview (Bitcoins and Gravy #91, http://letstalkbitcoin.com/blog/post/ep91-internet-of-coins-linking-our-digital-value-systems) and I thought their values overlap with those of Bitsquare.

4

i watch recent presentation on youtubes after i saw your original post. they have been workng on this for 2 years or something right? light on actual real details. check what bitsquare has presented before for example…usable tangible software…anyway…the best part was near the end the presenter said its a not for profit and dont want to see a profit. so…explain the crowdsale on the main website? i dont get it? the only reason you would buy many coins is because there are more stupid people buying them after you are so you can profit.

5

Sounds like a pyramid scheme to me then :smiley:
If they lack the details, then I think that is enough of the reason to not even consider them. I did find a whitepaper and quickly scroll through it. Seems as if they want to move away from PoW but don’t know how, so will probably use PoS.
Once they have a working software , maybe they could be considered then. For now, it seems like even they don’t know how it should work, so neither can we.
Bitsquare should support it’s coins, but it is quite a different concept, so I don’t see how it can be connected with each other. One seems to want to use a blockchain to insure exchange and the other uses arbitrators.