By referencing papers of such bad quality you lower credibility of your own paper very much. Didn't I just write I deleted it from a rough draft Wasn't I criticizing that paper even in the text I deleted How about I delete this post and you delete yours? Deal? Or do you prefer your trolling to remain on public display. Everyone can see what you are trying to do here. Is politics all you can do? Readers judge for yourself: Imagine this highly technical discussion comparing PoW and PoS can't happen in the Bitcoin Technical & Discussion forum, because the overlord Gregory Maxwell moves it to the Altcoin Discussion thread.
This forum is private property. Its owner and moderators have the right to do anything they wish. Is Gregory Maxwell bad because he moved your topic? I wouldn't judge without hearing his reasons. Does the Nxt community condone your trolling? I see you were a prominent person at one time in that community. I have no fight with that community. They are working on many interesting technologies and appear to be agnostic to any particular technology as long as they get the best coded into their ecosystem.
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You'll find nearly no programmers of my talent and capabilities who are willing to work with no guarantees and only $2000 monthly...
Modesty is not the strongest of your qualities as I see, hehe. Working for $2000 a month is not modest, when in fact I earned up to a $million per year in inflation adjusted dollars in the past And I earned all my big money (which is by now expended) from self-funded startups on my own long winded sacrifices, not from fat salaries and stock options pumped up by vulture capital. I actually walked away from an $80K annual salary and $1.2 million in stock options vested in 3 years back in 1995. Inflation adjust that. http://www.shadowstats.com/inflation_calculator?amount1=80000&y1=1995&m1=7&y2=2015&m2=7&calc=Find+Out$80,000 July 1995 $125,000 July 2015 (liar BLS stats) $455,000 July 2015 (Shadowstats corrected stats) If there are any programmers who are capable and willing to take coins, they are free to message me. I haven't been able to find any. And believe me, I have tried. Rather take the prior post as an expression of frustration, consternation, and stern realization. People who focus on ego are time wasters. I hope that isn't you (I see the "hehe"). P.S. Something I just deleted from an earlier draft of my white paper on the consensus network because it is redundant now in the final version:
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Indeed it appears his system needs to be modeled as a complex state machine. You can't just make a claim out-of-context that an "honest" majority of the trust reputation will decide the winner of a double-spend. You have to model the state machine holistically before you can make any claim. Proof-of-work eliminates that requirement because each new iteration of a block solution is independent (trials, often simplistically modeled as a Poisson distribution) from the prior one (except to some small extent in selfish mining which is also easily modeled with a few equations). See the selfish-mining paper for the state machine and then imagine how complex the model for his design will be. This is independence is what I mean when I say the entropy of PoW is open (unbounded), while it is closed for PoS.[1] Imagine this highly technical discussion comparing PoW and PoS can't happen in the Bitcoin Technical & Discussion forum, because the overlord Gregory Maxwell moves it to the Altcoin Discussion thread.
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I am thinking the fundamental flaw in any consensus algorithm that relies on some asset, is that the economic game theory is such that the asset will concentrate towards a winner take all over time.
What if a system makes a winner to give away his "power" if he comes close to the point of no return? That is a common argument that the society will bolt into a minority hash power (or minority stake) chain with the majority of users. However the problem with that in the context of all published designs I've seen, is that we all know well that the users tend to continue using (preoccupied, irrelevant to their priorities, etc) what they use and those tend to be controlled by the same vulture capitalists who will centralized the mining, e.g. Coinbase. Blockchain.com (see below), etc.. However you have identified conceptually what my design in effect technically accomplishes. Do not trust any vulture capital endeavors. They are all beholden to the capitalist network that enslaves the world. That is for programmers whose priorities are to get rich on some fat compensation with stock options and not on changing the world. You'll find nearly no programmers of my talent and capabilities who are willing to work with no guarantees and only $2000 monthly (self-funded for the past 2 decades up until this month) in survival goods expenses. Believe me, I've tried to find them and failed. Maxwell's Blockstream (whether he realizes it or not) is probably just another Hegelian dialectic gambit by the powers-that-be, where there is a good and bad car salesman (at the same dealer), so the good one looks less worse than the bad one and fools you into a horrible deal.
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There is no risk in fine grained innovation. The unpredictability is subsumed by the upside (opportunity cost!) and the lack of impact on an individual's surplus in survival goods: http://www.catb.org/esr/writings/magic-cauldron/magic-cauldron-2.htmlYou are extrapolating beyond the utility of finance and trying to apply it to where it no longer is relevant. It is because you have not looked at the composition, you just blindly apply some top-level concept where it is inapplicable. Stop your nonsense posting. (you entirely missed the entire point of my seminal essay in the opening post! and you go on and on ignoring the key point I have clarified to you now several times!)
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Fractional reserves don't exist without debt. Debt doesn't exist without the ability to predict the future. Innovation can't be predicted.
Thus fractional reserves require failure. This failure can either be dealt with frequent bank runs (and short-lived economic depressions) of the 1800s which eventually metastasized to JP Morgan bailing out the USA banking system and the formation of a regionally autonomous Federal Reserve system to buy corporate paper. Which metastasized to a centralized Fed which can do what ever the fuck it wants to do.
The Knowledge Age will destroy debt formation because finely grained innovation and the maximum division-of-labor can't be financed (predicted). The debt-based NWO world will spiral off into eugenics once it can't expropriate from the Knowledge Age.
Burn your finance degree. It will become useless.
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There is always an attack vector
Soon you will learn that is not true.
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"When you point one finger, there are three fingers pointing back to you."
Still waiting for the details of your solution as I've found it to be sorely lacking.
Furthermore, I don't believe the eMunie trust consensus is any more complicated than POW or POS, it is in fact quite simple, and simple enough to describe in 3 short sentences.
But you'll always have an attack vector whether it be 25% or 51% of the nodes (no matter how much you and Bitcoin people argue that isn't the case and unlikely, which is not!). Mine has no such vulnerability and is perfectly Byzantine fault tolerant. And it is much simpler and easy to describe and comprehend. And it is based on proof-of-work, but removes all the things people complain about w.r.t. to proof-of-work, including the excess security that is wasted on electricity. I do not feel good about causing someone to waste 2 - 3 years of effort. Hey if you are a good Java programmer and want to work for coins, again I suggest maybe you should be talking to me. I not only have the holy grail of consensus designs, but I also obliterate all the other anonymity designs as well including Blockstream, Cryptonote, and Zerocash. Please I don't wish any harm on you or your community. You've been very reasonable. I hope you see I am being reasonable. As for unreasonable dickheads, they have coming what they deserve.
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Another benefit of having partitions, and channels within those partitions, it allows client-only nodes to not have to rely on 3rd parties for the storage of their wallets. These devices (such as mobile phones) can just store the channel their transactions are in, maintain their own micro ledger with regard to their transactions and not have the worry of xyz.com running off with funds.
You are on the right track. But the devil is in the details. K.I.S.S. if you expect anyone to comprehend and trust the design.
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So now discussion of consensus algos other than PoW are consigned to altcoin discussion?
Actually the discussion was applicable to Bitcoin's PoW also, because the selfish mining attack means any party that controls 33% of the network hash power can in theory accumulate wealth disproportionately faster than the rest of the network thus the fundamental flaw I described in the opening post. With certain control over the network propagation the required percentage drops as low as 25%. This can be happening now, indicators might be the orphan rate and statistics of how often two block solutions broadcast within the network propagation delay. Perhaps Maxwell doesn't like the fact that I have a solution to that problem and am going to destroy Bitcoin and his bloated $24 million dollar vulture capital morass. Maxwell is a smart guy, but selfish, closed source assholes (censoring technical discussion is closing source) can't win against the entire community of humanity. Does he really think the community can't pool enough resources to hire mathematicians and cryptographers as smart or smarter than him He has a personality disorder (or vested interest but he didn't decide to acquire his position of overlord without the personality disorder in the first place) that I think Eric S. Raymond described well: http://esr.ibiblio.org/?p=4901National styles in hacking Posted on 2013-04-11 by Eric Raymond The German: Methodical, good at details, prone to over-engineering things, careful about tests. Territorial: as a project lead, can get mightily offended if you propose to mess with his orderly orderliness. Good at planned architecture too, but doesn’t deal with novelty well and is easily disoriented by rapidly changing requirements. Rude when cornered. Often wants to run things; just as often it’s unwise to let him.
Self-healing in the Age of Collapsing Healthcare eugenics totalitarianism: https://www.youtube.com/watch?v=uzWyiYUu-Dkhttps://www.youtube.com/watch?v=QoDt4nX3qEghttps://en.wikipedia.org/wiki/Kombucha
Re bond yields and bond prices, yes, TPTB I understand that. But, I am not tempted to buy bonds at about 1.99%. 1.99% is only a little better than 0%, and the 1.99% would be taxed anyway.
Sure bonds could go up (they have gone up A LOT). But, not for me. Not going to ride that tiger.
I never said buy bonds. I have no idea why you say that? If you mean others shouldn't buy bonds, note they do this for safe haven liquidity and because as bonds yields decline the resale value of the bond increases rapidly. The actual yield is not their objective.
New thread?: Technological Totalitarianism Haha. Good one. I'm healing myself, then it's time for war. I'm not joking. No more time for this forum. I am 4 days and 15 hours into my fast, but ate 2 egg yokes, a cup of leafy greens, and 50-100g of white coconut meat about 24 hours into the fast: P.S. If I seem moody or curt, perhaps it is because I've only eaten 2 egg yolks 40 hours into a fast which I intend to continue for week or weeks under the theory that ketogenesis will eat the bad prions which are sending chemicals to my brain to cause the brain to stop feeding itself glucose so the prions can get more glucose. Apparently the prions can't eat ketones but the brain can even it has been programmed by the prions to self-starve glucose. I need to get 100% healthy so I can code at my full capability.
For most all of you who have never experienced Multiple Sclerosis, just remember you have no idea how debilitating it is. Imagine your worst sickness where you felt like utter shit. Realize how good you feel while reading this. Note the difference. Imagine feeling like shit all the time. Multiple Sclerosis has different effects in different people. I experience Chronic Fatigue Syndrome. That effect is basically inability to concentrate and not a feeling of tired as in wanting to sleep, but rather a feeling of exhaustion and inability to sleep: https://www.youtube.com/watch?v=ZLyS8bj3iJMVery interesting theory: https://www.youtube.com/watch?v=7CuGPRF3zXgP.S. Who believes this is true? https://youtu.be/4QGjpYIJs4Q?t=306
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So now discussion of consensus algos other than PoW are consigned to altcoin discussion?
Actually the discussion was applicable to Bitcoin's PoW also, because the selfish mining attack means any party that controls 33% of the network hash power can in theory accumulate wealth disproportionately faster than the rest of the network thus the fundamental flaw I described in the opening post. With certain control over the network propagation the required percentage drops as low as 25%. This can be happening now, indicators might be the orphan rate and statistics of how often two block solutions broadcast within the network propagation delay. Perhaps Maxwell doesn't like the fact that I have a solution to that problem and am going to destroy Bitcoin and his bloated $24 million dollar vulture capital morass. Maxwell is a smart guy, but selfish, closed source assholes (censoring technical discussion is closing source) can't win against the entire community of humanity. Does he really think the community can't pool enough resources to hire mathematicians and cryptographers as smart or smarter than him He has a personality disorder (or vested interest but he didn't decide to acquire his position of overlord without the personality disorder in the first place) that I think Eric S. Raymond described well: http://esr.ibiblio.org/?p=4901National styles in hacking Posted on 2013-04-11 by Eric Raymond The German: Methodical, good at details, prone to over-engineering things, careful about tests. Territorial: as a project lead, can get mightily offended if you propose to mess with his orderly orderliness. Good at planned architecture too, but doesn’t deal with novelty well and is easily disoriented by rapidly changing requirements. Rude when cornered. Often wants to run things; just as often it’s unwise to let him.
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Please note that Gregory Maxwell moved this thread from the Bitcoin Technical & Discussion thread. I explained more about this fraud at the following linked post: https://bitcointalk.org/index.php?topic=1049048.msg12231625#msg12231625Note I have added a poll to this thread.The poll would have been offtopic before, but now it is unfortunately ontopic. The technical thread was unfortunately politicized by the aforementioned person.
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Well if you want proof that Maxwell wants to make war with me, he moved the following thread from the Bitcoin Technical & Discussion thread, after I made the post pointing out I was AnonyMint and that his Andrew buddy has a flawed white paper: https://bitcointalk.org/index.php?topic=1159691.0And not only that, but he didn't provide any "MOVED:..." thread link. I am messaging the superior moderators. If it is war he wants, then it is war he will get. And I am not referring to any action the owners of the forum obviously won't do. I am referring to destroying his company and Bitcoin. Now the fight is on.
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You are getting closer to my design. But you are still missing far too many radical epiphanies to realize how to crack the nut.
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http://www.armstrongeconomics.com/archives/36410We can see the string of Directional Changes. This is EXTREMELY UNUSUAL and warns that this move today has caused systemic damage to confidence, which helps the shift into the flight to quality that we require to finish the bubble in government. Indeed, we can even see the confidence shift today on the forum. Look how many new members are posting in this thread today.
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Sell bonds. The 10-Year now has a yield of just 1.99%. 1.99%? Ahh, no thanks.
When yield goes higher, bonds decline in value.
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TPTB: do you have any thoughts on the "black monday" crash going on right now? Is this the start to the 2015.75 financial crash? A foreshadowing of things to come over the next couple months?
Any steps to take in the immediate future?
As I explained in my post in the MA thread today, this is the false move that causes the peak in bonds by Oct. 1. You should be selling gold, BTC, and bonds, and buying US dollar and US stocks on this low this week. Hold tight in that until Spring 2016, then diversify some into gold and crypto coins (especially mine ) as they will bottom (<$700 and <$100). great, thanks for the response. So are the calls for an all out "collapse" (of banks, society, outright chaos) overblown? It seems like financial markets are getting much more volatile and risky, do you think those predictions are overblown? Or are they just misdirection? It will be a 2+ year collapse process.
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Btw, this looks interesting, but no time to study the details now.
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Thank you. And I do appreciate. May I request we all go silent now about vaporware. Crypto is going to collapse over the next few months and sentiment will be in the toilet. That is the time to buy. Remember that lesson of investing, buy low and sell high. Ignore sentiment. I will do the same. Thank you again.
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