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Author Topic: A proposal to new bitcoin system development  (Read 1398 times)
kentsin
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May 30, 2011, 09:39:42 PM
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There are two things :

1. multiple encryption or security.

 the money have multiple security. if money based only one encryption, then one day we face the problem the encryption is cracked. the true currency should be prepared to add new security measures over the time.

2. drop mining

 mining sound like a fair way to distribute fortune. however, it is a wast of energy and the true result is only a few will control most of the bitcoins in a mining model.

 the true problem of a on-line currency is to control the total among, and to distribution them evenly. I do not have exact ideas how to do that, but a system base on pure luck and some game like activities will be better.
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Quantumplation
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May 30, 2011, 09:43:44 PM
 #2

There are two things :

1. multiple encryption or security.

 the money have multiple security. if money based only one encryption, then one day we face the problem the encryption is cracked. the true currency should be prepared to add new security measures over the time.

We can implement this without having to switch over to a new block chain.

Quote
2. drop mining

 mining sound like a fair way to distribute fortune. however, it is a wast of energy and the true result is only a few will control most of the bitcoins in a mining model.

 the true problem of a on-line currency is to control the total among, and to distribution them evenly. I do not have exact ideas how to do that, but a system base on pure luck and some game like activities will be better.

You missed the entire point.  Mining is definitely NOT to distribute the currency evenly, that defeats the purpose of an economy.  The entire system RELIES on mining.

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May 30, 2011, 09:44:10 PM
 #3

Come to http://galaxies.mygamesonline.org/ sign up and start mining stuff in the game to sell for various digital currencies.

As more games are added there will be more ways to earn the same currencies and probably more new currencies too.

(If you do well in any game you might like to start a currency of your own instead of using other players' currencies all the time.)

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goatpig
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May 30, 2011, 09:48:10 PM
 #4

bwahahahaha

Come, come, gimme more noobs that think mining is cosmetic and deflation is evil. Feed the evil goat, feeeeeed me!

Quantumplation
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May 30, 2011, 09:48:56 PM
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bwahahahaha

Come, come, gimme more noobs that think mining is cosmetic and deflation is evil. Feed the evil goat, feeeeeed me!

You're going to be one fat pig, there seems to be an endless supply of them. =(  (Also, don't I remember you around here from last july/august?  I haven't been around at all, just got back into the community)

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Network
BLOCKCHAIN JUST ENTERED THE REAL WORLD
  Decentralized Crypto-Location Oracle Network
GET WHITELISTED FOR TOKEN SALE ( Limited )

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jjVon
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May 30, 2011, 09:57:23 PM
 #6

even a newbie like me knows not to stir a pot with my very first post.  tsk,tsk....poor guy's gonna be eaten up isn't he?

After all is said and done, there is usually more said than done.
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May 30, 2011, 09:59:34 PM
 #7

bwahahahaha

Come, come, gimme more noobs that think mining is cosmetic and deflation is evil. Feed the evil goat, feeeeeed me!

You're going to be one fat pig, there seems to be an endless supply of them. =(  (Also, don't I remember you around here from last july/august?  I haven't been around at all, just got back into the community)

Join in late March. Fat is good =P.

Vandroiy
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May 30, 2011, 10:02:54 PM
 #8

What exactly is the proposal? I see none.

"Distributed evenly" lacks any reasonable definition how to do so, and mining in its current form will vanish with the reward cuts. A second cryptographic scheme appears pointless, and the one used can be replaced on all active nodes within any expected construction time of a quantum computer. If the current methods are broken, it is likely that larger systems, especially online banking, will fail, so this forum appears a strange place to bring this up.

With that explained, this thread is pointless. Please close/delete. Also, stop bumping it.
Quantumplation
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May 30, 2011, 10:14:45 PM
 #9

With that explained, this thread is pointless. Please close/delete. Also, stop bumping it.

Yes sir, Mr. Forum Police Chief Sir!

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Network
BLOCKCHAIN JUST ENTERED THE REAL WORLD
  Decentralized Crypto-Location Oracle Network
GET WHITELISTED FOR TOKEN SALE ( Limited )

WHITE PAPER  ││  ANN Thread  Telegram   Medium   Twitter   Reddit
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