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Title: Explain Protoshares to me like I am 5 years old Post by: AndrewWilliams on November 16, 2013, 04:13:01 AM Please explain Protoshares to me like you would to a 5 year old. Thank you. ;)
Title: Re: Explain Protoshares to me like I am 5 years old Post by: Johanna on November 16, 2013, 04:15:42 AM Please explain Protoshares to me like you would to a 5 year old. Thank you. ;) You need CPU to mine protoshares :) Title: Re: Explain Protoshares to me like I am 5 years old Post by: AndrewWilliams on November 16, 2013, 04:22:56 AM Please explain Protoshares to me like you would to a 5 year old. Thank you. ;) You need CPU to mine protoshares :) That's it? So basically it's not able to be mined by ASICs? I guess that means that it was made to be resistant to the ASIC Wars (TM). :D How profitable has it been so far? Thanks for the input. Title: Re: Explain Protoshares to me like I am 5 years old Post by: Yurizhai on November 16, 2013, 04:31:18 AM Basically a deep space species known as the Protoss were facing annihilation by a virus on their homeplanet. Fearing absolute extinction the small population of them started a project to transfer most of their consciousnesses nto an AI like consensus. Unfortunately the project was never able to be fully completed and stabilized before a particular comet's distinct alloy makeup caused a major disturbance in the networking process. The interference shattered the consensus, with the comet picking up and reverberating pulses of the consensus within a vast radius of the comet.
ProtoShares are a crypto-currency that seek to run a similar algorithm to the network code discovered off one of the pulses of this comet. The main idea is to recreate the Protoss AI in some tanigble, meaningful way here on planet Earth. Opinions and ideas as to what will happen when that occurs are still murky, with the general idea being ascension or at the very least, mercy. Title: Re: Explain Protoshares to me like I am 5 years old Post by: AndrewWilliams on November 16, 2013, 04:33:31 AM Basically a deep space species known as the Protoss were facing annihilation by a virus on their homeplanet. Fearing absolute extinction the small population of them started a project to transfer most of their consciousnesses nto an AI like consensus. Unfortunately the project was never able to be fully completed and stabilized before a particular comet's distinct alloy makeup caused a major disturbance in the networking process. The interference shattered the consensus, with the comet picking up and reverberating pulses of the consensus within a vast radius of the comet. ProtoShares are a crypto-currency that seeks to run a similar algorithm to the network code discovered off one of the pulses of this comet. The main idea is to recreate the Protoss AI in some tanigble, meaningful way here on planet Earth. Opinions and ideas of what will happen when that occurs are still murky, with the general idea being ascension or at the very least, mercy. Starcraft? So Protoshares is like the Zerg? ;D All kidding aside, I guess I was confused because shares was in the name, which is misleading, since it's really a coin (?). Title: Re: Explain Protoshares to me like I am 5 years old Post by: Yurizhai on November 16, 2013, 04:37:43 AM Basically a deep space species known as the Protoss were facing annihilation by a virus on their homeplanet. Fearing absolute extinction the small population of them started a project to transfer most of their consciousnesses nto an AI like consensus. Unfortunately the project was never able to be fully completed and stabilized before a particular comet's distinct alloy makeup caused a major disturbance in the networking process. The interference shattered the consensus, with the comet picking up and reverberating pulses of the consensus within a vast radius of the comet. ProtoShares are a crypto-currency that seeks to run a similar algorithm to the network code discovered off one of the pulses of this comet. The main idea is to recreate the Protoss AI in some tanigble, meaningful way here on planet Earth. Opinions and ideas of what will happen when that occurs are still murky, with the general idea being ascension or at the very least, mercy. Starcraft? So Protoshares is like the Zerg? ;D All kidding aside, I guess I was confused because shares was in the name, which is misleading, since it's really a coin (?). I'm not talking about the Protoss from the video game series, Starcraft. I was giving you a short explanation of what the ProtoShare project is all about. Title: Re: Explain Protoshares to me like I am 5 years old Post by: tacotime on November 16, 2013, 04:54:12 AM Protoshares is a rapidly deflationary cryptocurrency based on a newer PoW called momentum. It's designed so that the meaningful output of the currency by mining to the end users is in months rather than years. The developer argued that despite this (a rapidly deflationary supply system) killing a lot of other alt currencies, in the case of ProtoShares this will be okay because eventually ProtoShares will become BitShares, something which the economist cunicula claims is a giant scam (https://bitcointalk.org/index.php?topic=298677.0).
Title: Re: Explain Protoshares to me like I am 5 years old Post by: belltown on November 16, 2013, 04:55:15 AM Please explain Protoshares to me like you would to a 5 year old. Thank you. ;) Dude, its simple. For each Protoshare you gonna get 1 Bitshare! That's it. Simple, right? And bitshares are like freaking awesome, but I didn't promise to explain bitshares to you, kid :D Title: Re: Explain Protoshares to me like I am 5 years old Post by: Ytterbium on November 17, 2013, 11:08:18 PM Please explain Protoshares to me like you would to a 5 year old. Thank you. ;) You need CPU to mine protoshares :) That's it? So basically it's not able to be mined by ASICs? I guess that means that it was made to be resistant to the ASIC Wars (TM). :D How profitable has it been so far? Thanks for the input. They can be mined by ASICs, it's just that they are designed such that a protoshares ASIC would be very, very similar to a modern day Intel/AMD CPU. However, if they ever became worth a lot it would be easy to create an ASIC for them that would be much *cheaper* then a CPU, since it doesn't use the FPU ProtoShares are just a regular altcoin but they'll be converted into BitShares. IMO BitShares are a completely ridiculous concept. Title: Re: Explain Protoshares to me like I am 5 years old Post by: AndrewWilliams on November 18, 2013, 01:38:08 AM They can be mined by ASICs, it's just that they are designed such that a protoshares ASIC would be very, very similar to a modern day Intel/AMD CPU. However, if they ever became worth a lot it would be easy to create an ASIC for them that would be much *cheaper* then a CPU, since it doesn't use the FPU ProtoShares are just a regular altcoin but they'll be converted into BitShares. IMO BitShares are a completely ridiculous concept. I see. Why are BitShares so ridiculous? I've heard people beaming about it, but I'm really trying to figure it out for myself. Title: Re: Explain Protoshares to me like I am 5 years old Post by: prophetx on November 18, 2013, 01:41:59 AM I think I need to open up a paywalled research website so we can get paid for explaining crypto, maths and economics to 5 year olds
8) Title: Re: Explain Protoshares to me like I am 5 years old Post by: AndrewWilliams on November 18, 2013, 02:00:31 AM I think I need to open up a paywalled research website so we can get paid for explaining crypto, maths and economics to 5 year olds 8) Or you can explain ProtoShares. :) I didn't ask for a lesson in crypto or economics, I want multiple perspectives on what makes Protoshares so great, not just hype. Title: Re: Explain Protoshares to me like I am 5 years old Post by: tacotime on November 18, 2013, 02:22:36 AM They can be mined by ASICs, it's just that they are designed such that a protoshares ASIC would be very, very similar to a modern day Intel/AMD CPU. However, if they ever became worth a lot it would be easy to create an ASIC for them that would be much *cheaper* then a CPU, since it doesn't use the FPU ProtoShares are just a regular altcoin but they'll be converted into BitShares. IMO BitShares are a completely ridiculous concept. I see. Why are BitShares so ridiculous? I've heard people beaming about it, but I'm really trying to figure it out for myself. See cunicula's thread Title: Re: Explain Protoshares to me like I am 5 years old Post by: digitalindustry on November 18, 2013, 05:26:40 AM Basically a deep space species known as the Protoss were facing annihilation by a virus on their homeplanet. Fearing absolute extinction the small population of them started a project to transfer most of their consciousnesses nto an AI like consensus. Unfortunately the project was never able to be fully completed and stabilized before a particular comet's distinct alloy makeup caused a major disturbance in the networking process. The interference shattered the consensus, with the comet picking up and reverberating pulses of the consensus within a vast radius of the comet. ProtoShares are a crypto-currency that seek to run a similar algorithm to the network code discovered off one of the pulses of this comet. The main idea is to recreate the Protoss AI in some tanigble, meaningful way here on planet Earth. Opinions and ideas as to what will happen when that occurs are still murky, with the general idea being ascension or at the very least, mercy. ^^ This is the accurate answer <CONFIRMED Title: Re: Explain Protoshares to me like I am 5 years old Post by: cycloid on December 16, 2013, 01:32:06 AM Basically a deep space species known as the Protoss were facing annihilation by a virus on their homeplanet. Fearing absolute extinction the small population of them started a project to transfer most of their consciousnesses nto an AI like consensus. Unfortunately the project was never able to be fully completed and stabilized before a particular comet's distinct alloy makeup caused a major disturbance in the networking process. The interference shattered the consensus, with the comet picking up and reverberating pulses of the consensus within a vast radius of the comet. ProtoShares are a crypto-currency that seek to run a similar algorithm to the network code discovered off one of the pulses of this comet. The main idea is to recreate the Protoss AI in some tanigble, meaningful way here on planet Earth. Opinions and ideas as to what will happen when that occurs are still murky, with the general idea being ascension or at the very least, mercy. ^^ This is the accurate answer <CONFIRMED LMAO Amazing stuff Title: Re: Explain Protoshares to me like I am 5 years old Post by: ButchHashidy on December 28, 2013, 10:54:34 PM lol I'm pretty sure protoshares are related to Invictus Innovations' decentralized autonomous corporations/communities, henceforth known as DACs. They're taking the idea of decentralized coins and applying it to entire companies, which in theory, is pretty revolutionary. The way they explain it, is for every ProtoShare you buy/mine/own, it will be converted to every new DACs share, which is why people are saying if you get ProtoShares, you will own Bitshares when that project is finished, and you'll own stock in any other new DAC that's released afterwards. And so far there's quite a few planned including a decentralized Youtube. Whether they'll be successful we've yet to know. But I'm pretty impressed by the theoretical implications of it all. Do I own PTS? No. Do I want some ... well sure.
Some of the things protoshares (Invictus) claim to accomplish are some of the same things Mastercoin are working on. Bitshares is similar to Mastercoins decentralized exchange. BUt they're both using different techniques to provide real time ticckers for virtual versions of real world assets such as a virtual USD or virtual Gold. THere's an entire forum dedicated to Protoshares and Bitshare and the DACs. If you want to learn more, check it out......you adorable lil' 5 yr old, you https://bitsharestalk.org/ Title: Re: Explain Protoshares to me like I am 5 years old Post by: YoyodyneSystems on December 28, 2013, 11:00:01 PM It's too wacky for me. Their site conjures ideas of Cults and sending people into space for 1000 years but using regular people as astronauts picked online
and funded by raffles. Now DOGE coin. That is serious a serious financial instrument. Title: Re: Explain Protoshares to me like I am 5 years old Post by: Slingshot on December 29, 2013, 08:47:30 AM Translation: It's not wise nor prudent to invest in things that one cannot or does not understand.
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