Bitcoin Forum

This paper introduces a new paradigm for utilizing the hash string outputs from the proof-of-work or proof-of-stake scheme of the virtual commodity, Cryptogenic Bullion (CB).  This new paradigm, named the MADEsparq Project, aims to blur the defining lines between currency, technology, and data by using the CB block chain to mediate the mapping of data to create, and add value, to content and unstructured and semi-structured data.  Over time, as more data is mapped onto the CB block chain from a vast spectrum of subjects and interests, chance occurrences for discovering valuable mathematical, structural, functional, or social relationships from the overlap and intersection of data mappings increase.  Therefore, since the data mappings onto the CB block chain can overlap from separate knowledge-domains, there is the potential for new insights and discoveries from the collaboration of participants in the MADEsparq Project, whose specialties lie in vastly different subject matters, that might not have been possible before.  Thus, the intrinsic value of the virtual commodity (ie. CB's hash chain) mediating the data mappings should increase over time.


White paper download link:  https://drive.google.com/file/d/0B7K8VdCHpm-pbTBEU1g0d0NmY28/edit?usp=sharing


Website (under construction):   http://MADEsparq.org


NOTE: This is a draft.  It's not quite finished yet but it's good enough to update the CB community of our first main project which I've been hinting.  Please use this thread to share constructive criticism and misunderstandings.  Although the paper is meant for the laymen, it's still quite dense with meaning.  I personally think it will change the world but I'm sure some people will read it and think, "Huh?".


<rant>

When I read the following statement a couple months ago

“Alternate block chains compete with bitcoins financially, confuse our message to the world, and dilute our efforts. These barriers interfere with the adoption momentum of bitcoin and the adoption momentum of alternate currencies as well, regardless of how well-conceived their rules may be.”

in this coindesk article about the MasterCoin project, I have to admit it got under my skin.  It sounded like imperialism 2.0.

It would be silly for the MADEsparq Project to not support Bitcoin's block chain, but this ideology that Bitcoin is the virtual currency and that the only altcoins to exist should be made through Bitcoin is absurd.  There are millions of creative and highly skilled people who have yet to get involved with virtual currencies.  And if nonsense keeps being said like the above statement then I doubt virtual currencies will ever gain mass adoption, because anybody with half a brain will be able to see the truth of what's happening.  And that it's the same imperialist bull shit that has been going on since, well, the invention of currency...

I think the virtual currency world needs a strong Bitcoin--price stability and strength is crucial for any economic and monetary system.  And I just don't see any other virtual currency growing bigger than Bitcoin--I'll be blunt, it just ain't happening.  And the reasons for it now are more political than anything else, especially with the kind of funds being invested in the ASIC industry.  But true adoption by the private sector won't happen until there are legitimate options to help allocate and manage risk better.  Bitcoin absolutely will not be the only virtual currency to be supported if there is to be true mass adoption, because it quite simply cannot.  Yes, MasterCoin will help in this regard.  But as the MADEsparq Project exhibits, there are many ways to be an innovative coin.

On another note, I applaud the possible regulation meetings to take place in New York next month.  And I emphatically cheer the possibility of a Bit License being a requirement not only for merchants adopting Bitcoin as a payment option but of also a representative on a virtual currency's development team.  If there's a fee to register a virtual currency so to be used in the USA (a fee for each state maybe), then so be it.  But let it not be a trivial amount either!  I would cheer such a fee!  That, in my humble opinion, would be the final nail in the coffin of so many of these shady losers on this forum making coins.  Good riddance!

</rant>


Supervising the long term stability of Cryptogenic Bullion is one of my main priorities.  I have considered many ideas, including revision to the PoS scheme so to be more secure and being PoS-only.  But it's not an easy task and I'll have even less time now given my priorities to help develop MADEsparq Project.  But I have recently considered the idea of converting the PoW scheme of Cryptogenic Bullion to be merged mined with BTC.  Perhaps Garzik or somebody else on the Bitcoin dev team could pm or email me to further discuss the possibility.  But at the very least, I'll be scheduling a hard-fork in about a month or so from now that will increase the block times slightly so that the block relationship between the PoW and PoS schemes are more smooth.  As mentioned before, even though I kept elambert in the loop of my project plans, I did not officially join the Cryptogenic Bullion dev team until almost a month after its release.  So now I'm revising some of the original PoW/PoS specs to increase mining efficiency while also increasing long-term stability.  This has become even more important now that its block chain is intricately involved with MADEsparq Project.  

If another member of a major virtual currency would like to discuss any matter, please feel free to email me using the above email address.

Cheers.


-Merc

I would ask for the CB community to help spread the word of MADEsparq Project.  Post in Facebook, Twitter, Reddit, other exchange chat boxes, etc.


MADEsparq twitter page: https://twitter.com/MADEsparq


MADEsparq Facebook page:   https://www.facebook.com/MADEsparq


MADEsparq White Paper:   http://cryptogenicbullion.org/#papers


MADEsparq twitter handle @MADEsparq



I'll be holding a logo contest soon.  There will be more than one winner and the winning logos will be the preliminary logos used for the 99designs contracts.  Stay tuned...

Reserved

I've went through it very quickly and I must say that I haven't been this impressed (in relation to cryptocurrencies) in a long time. This could potentially be something of great value, and you should definitely try to maybe work out something for that merge mining.
Keep up the great work merc.

Thanks! 

Ha!  Thanks!

Merc just read through the whitepaper, I personally think you are a genius and a revolutionary. This is completely blowing my mind right now, the opportunities for this project can be used in so many different ways. Again you are brilliant.

 ;D ;D ;D


Great work Merc!

Thank you also elambert! Love you guys! Making history right now, so excited.

Sleep.....I think.....will evade me tonight...

This is f*king amazing!  ;D Congrats on your work Merc!

Unfortunately I am only able to skim through this at the moment as I'm TOTALLY swamped...

However, I must say from what I briefly gleamed I am impressed, and I'm NEVER impressed. I will be most certainly be setting aside some time as soon as possible to read this thoroughly and I will of course let you know my full thoughts and give feedback.

Also, salute for the eMunie mention :)

Thanks, much appreciated!

Man o man, very, very impressive Merc! Even with having prior insight to some of the ideas, I am still mind f'd. Needless to say, I am proud to see this coming to fruition and look forward to this revolutionary experience. So happy for and proud of you my man!

WTF ?

Is MADEspark anything like Megatron's AllSpark?

And more importantly, how does the MadeSpark mitigate the now very obvious Bitcoin Effect?

Thanks.

Did you have a question?   lol.

The first red flag is that this is a self moderated thread.  Meaning free speech will be frowned upon.

From my experience that's always a red flag for a dubious mind.

But I am curious if this will stop the Bitcoin assault which I doubt will work, but maybe I'm wrong.  Every alt coin out there would pay anything to the first guy who finds a solution to the Bitcoin Effect.

This thread is self-moderated to keep away the trolls, which this forum is full of...

---

I am not sure what this Bitcoin Effect is that you mention. 

The Bitcoin effect which I've been warning about for months is the effect which occurs everytime Bitcoin goes up.  99.9% of all alt coins go down and they go down hard everytim Bitcoin goes on a run.

Even Litecoin gets killed.  

So any new concept or solution for any alt coin should take this phenomenon into account otherwise once Bitcoin starts going back up, CGB, along with all other alts, will go into freefall (again).

What can I say... I've been expecting something like this, and a lot more from you guys from the very beginning. Congrats to Merc, and your entire team!

CGB has accelerated subsidy halving...PoW rewards are halved every 30 days, until reaching a baseline of 0.01 CGB per block.  This should mitigate exactly what you're speaking of regarding BTC's price.

Steal what?  You think when I'm getting invited to universities and conferences to give talks about my project, you really think it's going to matter?  Or maybe someone will steal the website which will be the host and source of the Data Mining?  You're clueless...

Thanks  :)

Wow, a hell of a job you did with the white paper...that will take a while for me to read/understand :)
Will let ya know what I think of it tomorrow :)
But judging from the other coments I guess its somthing good  ;)

By the looks of it, you own a lot of ixcoin.  Maybe you should go hang out and do things to support that community instead of coming in here and blabbering nonsense...

Well your whole post is, well a bit on the trollish side..just my opinion thogh ;)


You should see your self writing....I only sad I would look at it too make up my opinion and you already start insulting me :D
Only thing you are archiving is that you make a fool out of your self ;)

This is a very exciting and fascinating idea!
I registered on bitcointalk solely due to this post :) Been a lurker here for awhile and I was already very interested in CB before reading this.

I have one question which I couldn't quite understand from the whitepaper:

What is the, on the technical level, the connection between the MADEsparq mappings and the output hash values? Is the hash output generated as a hash over some MADEsparq users mapping, or do they create a mapping from the original hash after it was generated in a normal tx? Is the hash string outputs a hash  of the combination of the tx/output data and the MADEsparq mappings?

Quite an exciting last 12 hours for the CB community  ;D

Hang on folks, big PR push launching in about 24 hours  ;)

What kind of a PR push? Newspapers, new adds on googel add....?
Or is it a secret?

I know you have seen a taste of what marketing savvy Merc has shown thus far so let that be a hint…
 ;D

Wearing my CGB shirt proudly today! Thanks!!!

While I don't quite understand it atm, it looks really interesting and a very well presented paper.  I would be happy to help in anyway I can and would love to have a madesparq sub domain as soon as I can get one!

First, to be clear.  The hash string is generated with each block of CB's block chain.  It's those hash strings that will be used.

To answer your question.  It depends solely on the ingenuity of the data categorization.  MADEsparq Project will catalog and data mine the mapping and participants will make use of it, however they choose.

I will have an open alpha release of the client software in a couple weeks.  And I'm voluntarily creating subdomains for some of the merchants already accepting CB as a payment option, to kickstart the corpus building.  And perhaps then it will be more clear.

And speaking of kickstart....once this project is in beta, I'm going to resort to crowd funding on Kickstarter to help launch out of beta.  More info on that soon.

Right now I'm in the middle of a PR push and registering at university and conference talks.

Let me know if I answered your question.  You can email me if you want.  :)


-Merc

I will create one for you and send the XML files to you, supporting many games that are available on your site, and perhaps then it will be more clear on how to use it.  :)

News should be crossing the wires this week...

And I'm registering at university and tech conferences to talk about MADEsparq Project.  For instance, like NIPS:  http://nips.cc/

And yes, of course, marketing on Google and Facebook, etc.

I'll give more details soon.

You should have a TED talk  ;D

Also, how is things going with the Chinese influence on CGB?

It's going well.  I'm getting a team together to deal specifically with the Chinese market.  It's quite different than the West.  Believe it or not, digital currencies are more developed over there.

As for MADEsparq, I'm having the white paper translated into Chinese very soon (among other languages).  And I'll be trying to get invited to the University of Hong Kong to give a talk about MADEsparq Project. 

That's just the start...

I kinda feel great having recently invested a couple of BTCs buying CGB, it might pay off really good :D

Sorry for all the questions but, about PoS only, is that still happening or is it gonna be PoS/PoW for the foreseeable future?

PoS/PoW for the foreseeable future...

I'm happy for you.  :)

Thanks!

The White paper is scheduled to be published and available on arxiv.org this Tuesday, November 19.

-Merc

Great news! Also, I see a reddit discussion is forming:
http://www.reddit.com/r/technology/related/1qvvnj/cryptogenic_bullions_madesparq_project_made/

Very exciting times  ;D

I'll try to get a PR update in a few days. 

And I have a tentative schedule for the open alpha release of the client software in about 3 weeks.

PR crossing the news wires:  http://www.accesswire.com/409672/Cryptogenic-Bullion---The-Virtual-Commodity-Blurring-the-Lines-Between-Currency-and-Big-Data

Link for the Yahoo's  ;)
http://finance.yahoo.com/news/cryptogenic-bullion-virtual-commodity-blurring-203000438.html;_ylt=A2KJ3Cc4iYpS6WkAa2.TmYlQ

The wires are buzzing! Very cool guys!

See these 30% - 50% price swings in BTC/USD?  This is what I mean that there needs to be alternatives for proper allocation of risk in order for mass adoption by the private sector to gain momentum.  And the market infrastructure doesn't allow for proper market efficiency yet.  Each exchange is off in their own world and the price correlation is often just plain strange....and that doesn't help the mass adoption argument.

Agreed. Big swings can be profitable for skilled day-traders but they scare the shit out of me as a business owner.

Why is CGB down 30% in the last few days even though most other currencies have gone up considerably?

I bought CGB on 11/16/2013 at 292,000 and now it's at 211,151.  OUCH!

BTC/USD was $450 on 11/16/2013....reached as high as $900 on 11/18/2013...and is currently ~$650, which is a 44.4% gain.

CGB/BTC, in dollar terms, is up over 14%...

nice concept any fre CBGs ? 5d2Q78qnBucEFBNC4ZWRFscGmxgenWciUX

Sorry, I didn't convert.  Maybe that's why it appears lower on a BTC basis.  Good to know.  Thanks.

I will have the logo contest for MADEsparq this week.  Award will be at least 40, 30, 20 CGB for 1st, 2nd, 3rd place respectively (at least $200 for 1st place, depending on price volatility of CGB).  I'm using the winners of the logo contest as concept images for the branding campaign on 99designs.com.  I'll announce it mid-week to let some people unwind from the US holidays.  The graphical design folks on this forum can start getting their ideas together now.  I want to have the logo decided upon before starting the crowd funding on Kickstarter.

Cheers.

-Merc

Interesting concept, i'm keep my eye on this project. Keep up the good work !

Are there any information sources for creating subdomains?  

Are there any updates on this? it's really interesting and it just seems like a while since there was any news on it's progress etc.

Hello Mercury,
How is the dev going ?
Any sharable news since november ?

Any updates?

I have been amiss in following this thread, my apologies. MADEsparq development continues. Please follow CGB's lead developer, Mercury Stills, blog for updates as they are released:
https://cryptogenicbullion.org/#blog

Awesome guys keep it up :) .