36 Comments

  1. "Everying in crypto currency is not literal”(0.19): all the terms used in crypto have no value, In crypto world things are called for what they represent not for what they are.
    Like in a game my son is playing , his es saying, jump the house, grab the weapon, take the money, plis dont kill me, but all of those words dont create confusion becuase he know he is in a game , he has a screen in front of him,there is no way to be confused.  but in crypto world, people dont understand that a contract is not a contract, a token is not a “token “ asa regulted gift card can be in real world
    A wallet is not a real wallet , becuase coins are not real coins, as the laws describe it, An adress is not an adress is just a code in the crypto world game.
    the line between reality and crypto is so so so blurry, people are going to be very confused.
    security tokens next?

  2. Hi, Great explanation! Thanks.
    Could you or someone you know help me to develop a colored coin for a project I have?
    I'm willing to pay for the service, of-course.

  3. Colored coins should not exist because the capability to make colored coins should not exist because this undermines the fungibility. In so far as bitcoin is not fungible I suppose it is mostly harmless to do these things but we would be far better if this was not a capability.

    Currently coin base coins that is to say coins that I have been freshly mind, are worth more than used coins because there is always the possibility that used coins could have went through the silk road to sell drugs or could have been involved with mount gox and potential he be tied up in some lawsuit in the future since after all I thief cannot transfer title etc. etc.

    The fact of the matter is that anybody can “color “coins right now through block chain analysis by tracing back and unspent output all the way back to the block from whence it came and can therefore mark as tainted for whatever reason.

    My point is that there is no future for colored coins because this fungibility problem will have to be addressed for the long-term viability of bitcoin or any similar system because it is a long term existential threat to the network

    So no we need to stop wasting our time trying to store our house titles on the block chain where we can lose title to our home by losing our private keys and other stupid shit like that

  4. Sorry guys but it really does not make sense to tokenize everything and to keep track of everything on the block chain. Let us say that we wanted to maintain titles and deeds on the block chain your use of colored coin‘s. Now if you lose your passwords or your private keys I should say you could lose your title to your home. It really makes no sense, there is no benefit in subjecting ourselves to these type of risks. When it comes to land for example the government that has jurisdiction over that land can come and take it anyway regardless of whether or not the title is held in the courthouse downtown or it is held in the black chain because it is a real thing that exist in the real world that they can control her force. So that’s always going to be the case there is no benefit in putting the title to that land on the block chain. The only way it might make sense is if there was no government in a given jurisdiction or in a given lack of jurisdiction I should say and you needed a way to authoritatively establish title without there being that central authority over that area to begin with. But whether that is possible or not is another question entirely

  5. What do you do for a living? You have to be a coder or cryptographer…..??? I am just curious because you are laying this stuff out there better and more truthful than I have come across thus far. Thank you for being honest. What happened to honesty?

  6. Awesome! I can think of a dozen ways to use it in my retail and business (already accepting for payment & providing customer rewards in Bitcoin Cash) straight off the bat! Who is likely to be developing coloured wallets and what is the likely time frame?

  7. Doesn't that mean that coins are less fungible then? How can you give a bitcoin an "id"? Isn't that supposed to be impossible in order to not taint coins? Is it possible to remove the color from these coins?

  8. Is colored coins an idea for just Bitcoin cash? Can bitcoin also do this in the future? Also, isn't ethereum pretty much like that already? All the erc20 tokens are like colored coins, no?

  9. Didn't know about this feature of bitcoin, yes seems like a good idea that could catch on.
    I wonder can the meta data be removed, or is it there forever .?

  10. kind of understanding this concept…once a bitcoin cash is colored, can it go back to "uncolored? If 0.1 bcash becomes colored and I split that into 0.05 and 0.05 bcash, are these two now colored ?

  11. I'm averaged into Bitcoin Cash around 2,450$ per coin lol but besides that I freakin love it. So much potential it's scary. Bummed I'm in negative but I believe that's only temporary 😀

  12. Why would any one want to make a coloured coin if there are already better alternatives that are more widely adopted? BCC coloured coins seems like an inferior and redundant feature compared to ERC-20 tokens and token standards of other crypto currencies. There already are some coloured coins on the Bitcoin network that started trading a year or two ago, e.g. Lykke and a few coins on the Lykke exchange, and this was all before the massive scaling issues. Because they're coloured coins they are limited to being traded on the Lykke exchange because no other exchanges has adopted support for coloured coins. Right now Lykke is considering moving the assets to the ERC-20 standard because coloured coins have pretty much been a failed to be widely adopted. I highly doubt adding coloured coins to BCC is going  show a different result even with better scaling ability, ERC-20 already has too much momentum (probably half of all currencies listed on coinmarketcap are ERC-20 tokens) and has a greater feature set (i.e. smart contracts and greater wallet support).

    Also something unrelated coloured coins, the content of your videos are interesting, well thought out, and is presented nicely but you seem too emotionally attached to BCC and that kind of makes you seem less credible. Just my 2¢.

  13. Its a neat idea but realistically it never took off before (and by 'before' I mean before scaling was even a issue) I dont see what's different this time.

  14. I like your videos, but uhhh you're not exactly the most artistic person to be doing videos in this format. Not trying to be an ass, just saying maybe try different methods? see what works best

  15. This is what I consider 'a second layer.' A layer on top of the physical layer that can be changed/updated independent of the first layer -bitcoins.

  16. For those who are comparing colored coins to erc-20 tokens, colored coins predate erc-20 tokens. Colored coins were developed in 2013 while erc-20 tokens were developed in 2015.

  17. I like Colored Coins and was reading about the subject back in 2016 after reading a book called Decentralized Applications. The coloredcoins.org website looks kind of like it's been abandoned but here is the video (with the Chameleons) that was on their site before: https://youtu.be/fmFjmvwPGKU Now with Bitcoin Cash (and the low fees) it does seem like colored coins will be possible and practical and probably better than Ethereum's ERC20 tokens.

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