This paper introduces a new paradigm for utilizing the hash string outputs from the proof-of-work or proof-of-stake scheme of the virtual commodity, Cryptogenic Bullion (CB). This new paradigm, named the MADEsparq Project, aims to blur the defining lines between currency, technology, and data by using the CB block chain to mediate the mapping of data to create, and add value, to content and unstructured and semi-structured data. Over time, as more data is mapped onto the CB block chain from a vast spectrum of subjects and interests, chance occurrences for discovering valuable mathematical, structural, functional, or social relationships from the overlap and intersection of data mappings increase. Therefore, since the data mappings onto the CB block chain can overlap from separate knowledge-domains, there is the potential for new insights and discoveries from the collaboration of participants in the MADEsparq Project, whose specialties lie in vastly different subject matters, that might not have been possible before. Thus, the intrinsic value of the virtual commodity (ie. CB's hash chain) mediating the data mappings should increase over time.
White paper download link: https://drive.google.com/file/d/0B7K8VdCHpm-pbTBEU1g0d0NmY28/edit?usp=sharingWebsite (under construction): http://MADEsparq.orgNOTE: This is a draft. It's not quite finished yet but it's good enough to update the CB community of our first main project which I've been hinting. Please use this thread to share constructive criticism and misunderstandings. Although the paper is meant for the laymen, it's still quite dense with meaning. I personally think it will change the world but I'm sure some people will read it and think, "Huh?".
<rant>When I read the following statement a couple months ago
“Alternate block chains compete with bitcoins financially, confuse our message to the world, and dilute our efforts. These barriers interfere with the adoption momentum of bitcoin and the adoption momentum of alternate currencies as well, regardless of how well-conceived their rules may be.”
in this coindesk article about the MasterCoin project, I have to admit it got under my skin. It sounded like imperialism 2.0.
It would be silly for the MADEsparq Project to not support Bitcoin's block chain, but this ideology that Bitcoin is
the virtual currency and that the only altcoins to exist should be made
through Bitcoin is absurd. There are millions of creative and highly skilled people who have yet to get involved with virtual currencies. And if nonsense keeps being said like the above statement then I doubt virtual currencies will ever gain mass adoption, because anybody with half a brain will be able to see the truth of what's happening. And that it's the same imperialist bull shit that has been going on since, well, the invention of currency...
I think the virtual currency world needs a strong Bitcoin--price stability and strength is crucial for any economic and monetary system. And I just don't see any other virtual currency growing bigger than Bitcoin--I'll be blunt, it just ain't happening. And the reasons for it now are more political than anything else, especially with the kind of funds being invested in the ASIC industry. But true adoption by the private sector won't happen until there are legitimate options to help allocate and manage risk better. Bitcoin absolutely will not be the
only virtual currency to be supported if there is to be true mass adoption, because it quite simply cannot. Yes, MasterCoin will help in this regard. But as the MADEsparq Project exhibits, there are many ways to be an innovative coin.
On another note, I applaud the possible regulation meetings to take place in New York next month. And I emphatically cheer the possibility of a Bit License being a requirement not only for merchants adopting Bitcoin as a payment option but of also a representative on a virtual currency's development team. If there's a fee to register a virtual currency so to be used in the USA (a fee for each state maybe), then so be it. But let it not be a trivial amount either! I would cheer such a fee! That, in my humble opinion, would be the final nail in the coffin of so many of these shady losers on this forum making coins. Good riddance!
</rant>Supervising the long term stability of Cryptogenic Bullion is one of my main priorities. I have considered many ideas, including revision to the PoS scheme so to be more secure and being PoS-only. But it's not an easy task and I'll have even less time now given my priorities to help develop MADEsparq Project. But I have recently considered the idea of converting the PoW scheme of Cryptogenic Bullion to be merged mined with BTC. Perhaps Garzik or somebody else on the Bitcoin dev team could pm or email me to further discuss the possibility. But at the very least, I'll be scheduling a hard-fork in about a month or so from now that will increase the block times slightly so that the block relationship between the PoW and PoS schemes are more smooth. As mentioned before, even though I kept elambert in the loop of my project plans, I did not officially join the Cryptogenic Bullion dev team until almost a month after its release. So now I'm revising some of the original PoW/PoS specs to increase mining efficiency while also increasing long-term stability. This has become even more important now that its block chain is intricately involved with MADEsparq Project.
If another member of a major virtual currency would like to discuss any matter, please feel free to email me using the above email address.
Cheers.
-Merc
