Well it has been quite a while and going anon here and we have written up a much more detailed spec which counters many of the obvious and immediate flaws in the discussion - but am looking for bold collaborators with an anarchistic (remember that boys - now y'all just waiting for wall street and etfs
) flare to flesh this to reality.
This is what we have so far in Summary
Variation of POW where instead of working on puzzle transactions, it works on brute forcing the top 10 BTC wallets
The proof of brute forcing then generates POC coins in blocks- same same but different as BTC blocks are awarded. Likely we will do 21m at a similar/same ratio if that math makes sense.
So at the base- it is a competing POW to BTC's except that the work is "useful" in the idea that it is trying to brute force BTC wallets containing 100K+ coins
Now if in the unlikely event a wallet is brute forced (yes - we are aware of the odds) - - we would like the following to happen
a- Each POC wallet is linked/registered to a sister BTC wallet already
b- At the moment of brute force, the opened account is drained to a drop wallet and a snapshot of the POC network is taken - which includes the POC wallet amount and linked BTC accounts
c - all of the BTC in the drop wallet is then allocated to the linked BTC wallets on a proportional basis. So if there are 1000 POC in circulation and you have 100 of them - when a 10 BTC wallet gets drained - you get 1 BTC.
Why this is cool: It is fully decentralized, censorship resistant and immutable.
Your Frequently Asked Questions:
Q: Is this Illegal?
A: Depends who you ask and where.
Q: What about funds that are taken?
A: That is assuming that a key will ever be found- common consensus says the number of attempts required is (n-1). But it if actually is found ,then there is an immutable process in place that automatically distributes the BTC to wallets linked to those holding POC - is this the fault of the wallet holder or the network? (as the "crackminer" who found the key will be anon and receive no special love)
Q: What about Bitcoin, don't you love Bitcoin and want to see it thrive, why do you want to destroy it - are you an awful/immoral person?
A: I am by nature a Bitcoin Maximilist and believe that it is the foundations of our future global economies. However as a true Maximilist - I want to use our collective resources and braincycles to try to break the very thing we follow. Why? because someone else is or will - and if it can be broken then we need to break it to pieces and discard it sooner than later.
Q: Why top 10 wallets - why not just all work at a puzzle address to prove the system.
A: Make the stakes real and if a crack is found- it will destroy the system we have now and force evolution (better sooner than later) And the reality is that we will be creating a shadow currency to BTC (just to shut the discussion down right away- BCH is not a shadow currency - it is a poorly executed social engineering troll attempt) The POC currency will grow and thrive and for this to achieve solidity in the heartminds of the masses then it needs to come with the "lottery ticket" element. Making it have the promise of real financial rewards will have the flip effect of making POC a viable currency of its own right (rather than a college dorm room project which most of these "brute force" projects seem to end as)
What we think will practically happen is that there will be a way for people to also manually enter public/private keys and then spray wallet contents to the network. There are many different cases how/why this could happen including spite and charity.
One Higher level question that is beyond my knowledge:
-Is there a way to develop the environment which allows the crack attempts to be self-optimized by the node running it - so for instance if one crackminer wants to use CPUS and another wants to use GPUS. this allows for innovation and scale in ways we could never imagine.
Obviously all attempts would need to go through the network in some way so that a few things happens
- they get POC coins generated for the attempt
- IF a crack is found - it is immutably done by the "network" and not the individual rig that executed it.
Lots to think about obviously and I have more detailed specs and questions, but just throwing the above info out there to get started and see where we can take it.
-PR
