My Solution to Three Problems

[charleshoskinson]

I've been thinking a lot about issues with the foundation's relationship to developers, ASICs entering the marketplace displacing millions worth of GPUs and finally a mining pool getting 51% of hash power. I think I've come up with a solution.

Let's create two non-profits. One non-profit will operate a mining pool that collects 100% of its production and focuses on GPU miners who can no longer break even as a result of ASIC miners. Like folding@home it is a donation of compute time to help a common goal. The bitcoins are then donated to a second non-profit that pays for professional developers to work on bitcoin like gavin does, but has no ties any particular foundation as it is always guaranteed the revenue from the pool. The second non-profit will also solicit companies like Google, Amazon, Facebook, and Paypal to contribute developers to the Bitcoin project.

We can also resolve the 51% problem by getting pool operators to agree to a cap on their total network hash rate. Anything over (overflow) would be allocated to the non-profit pool. Everyone wins. The millions of dollars in GPU hardware gets to still be useful. And we have preserved the integrity of the core software development of Bitcoin.

Suggestions, Ideas, Concerns? 

[FreddyFender]

I would pay to see other alt coins protected (with alt coin proceeds).
I would like to see servers setup for Electrum world-wide.
Other @home services look mainly for volunteers or donations. Can we get tax write-offs?
Long time devs must have an opinion about extra Hashability and where it is best useful. They also could be idled as a hedge against some future 51% attack.

An aside - I was having a discussion with this squirrel the other day and he said, "My nuts?"
And I said "Yes, your nuts."
"You're nuts!" He shouted back.
"Well, can't blame me for asking."
The moral of the story being - never try to separate a squirrel from his nuts.

[charleshoskinson]

I like you. But this is a serious proposal that I will fund if there is enough community involvement. We need to find a way to fund development outside a foundation