cashball (OP)
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February 23, 2018, 11:42:49 AM |
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Problems of current cryptocurrencies and platforms: distribution of the currencies is biased which leads to many problems.
Example: Bitcoin, understandably an experiment, sought to avoid masses the first year and a half - an estimate is 2 million bitcoins being mined by less than a thousand people.
Example: Ethereum, IOTA, ICOs reach a few people at the time the initial distribution, non-mineable coins at best can follow Pareto distribution.
Example: Byteball, piggy back on PoW already done by Bitcoin, those in the scene at the time had most reward, distribution rules changed at whim.
Example: RaiBlocks, unknown during Proof-of-Captcha-solution for 2 years, then hype.
Generally the PoW in blockchains leads to centralization of miners, and centralization of power. Distribution is worse than pareto principle on PoS attempts.
We can see cryptocurrencies follow a pattern where the few attempt to gain the most of it, keeping the early distribution of the currency almost a secret,
then when they have enough, they market it to the masses to reap the rewards. From Bitcoin to every other shit-coin the pattern is the same.
This has the undesired effect that no cryptocurrency is actually used as a currency, but resembles a pension fund.
The pattern also explains why there in 2018 we still do not have a massivly-scaleable distributed decentralized software library. No cryptocurrency is really used for anything but speculation on other shitcoins to follow the same pattern.
Instead the developers just spew promises, Lightening, Plasma, Tangle, DAG, and other garbage for the past 7 years.
The problem is this:
Anybody who can, _would not_ develop a "massivly scaleable trustless distributed currency or network" - for what is the reward for that person or group doing it?
Instead they create shitcoins and reap the rewards, even better when promising and not actually delivering. They can do it again.
This explains the pattern. The developers, those who put time and effort in it - want the rewards - not to see billions walk of to others.
There is nobody pushing for raising the limits of any cryptocurrency, nobody is really pushing to use it. Many are just pushing to value it higher than they bought it for.
What we need is: better, novel distribution method.
Incentivizing actual usage of the crytocurrency, hitting any limits and shattering them as it evolves.
Usage of cryptocurrency, how to measure it, is very difficult to touch the real world if its supposed to be a payment system, hence this new platform, will only measure the usage within the system.
Imagine a platform where distribution of value is rewarded to those who use it, reward to those who generate transactions. Problem is apparant, it is very easy to fake transactions, to generate many. Hence, we need to modify "to those who use it" and qualify with "who do something", example, to make a transaction impose a small puzzle, PoW, which limits the amount that you can fake. This is what RaiBlocks does, this is what Bitcoin does with slight modification.
We can do better, we can judge the usefulness of a transaction differently.
If you are here on this coin in Announcement thread - to reap the early rewards - this is not a platform for you.
If you are here to support us in developing this, for no gains then this is for you.
Pre-ICO in the title means, we're seeking donations to develop this, the reward for donating is only being a part of history, nothing else.
Who are we behind this? We are sick and tired of cryptocurrencies, of capitalism, the economy, advertisments, the music and content industry. CashBall, a temporary name, will bring back the internet from 1999, cooperation, sharing, collaborative collective effort to bring usefulness to our lives, such as napster hookers and blackjack.
CashBall is a new novel platform for distribution and utilization of digital value in a decentralized trust-less environment.
More details and whitepaper will be posted in short.
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