Bitsand: A Virtual Unit Built On Peer-to-Peer Network

[bitcoinsmasher000]

Inspired by Satoshi Nakamoto's design of Bitcoin, initiate to construct a simple peer-to-peer system, and Bitsand is the smallest unit of circulation in this system. Like Bitcoin, Bitsand can be sent and received using a peer-to-peer network. Bitcoin's proof-of-work guarantees the decentralization of its issuance process by consuming external resources of the system, but the proof-of-stake can ensure the consistency and stability of the system at a lower cost from the perspective of system operation. Bitsand will be issued on the basis of Bitcoins which is already produced under the proof-of-work. All Bitsand will be obtained from the destruction of Bitcoins, and the system will continue to operate under the proof-of-stake. Bitsand was created only out of interest, and the value of this system depends on how people are willing to use it.

Anyone can upload your designs here or publish your Bitsand version independently, let us do something interesting...

bitsand.org

Bitcoin Smasher

bitcoinsmasher@protonmail.com

[Insanerman]

Anyone can upload your designs here or publish your Bitsand version independently, let us do something interesting...

Design for what? You've just introduced something vague and ended your statement with a much open-ending statement. What do you really proposing here, more especially in 'design' part?


Also, I've been confused with what Bitsand you're talking about actually is. Are you immitating bitcoin? As far as I can comprehend you are saying that Bitsand would came from 'destroyed' Bitcoins, right? Yet AFAIK, you cannot mine those :v Is this like the Spark tokens that is based on the number of holders of XRP -- and you're doing the same thing onto Bitcoin? Overall, the theme of what you are talking in here is still blurry (as for me). You might as well produce some infographics that would portray the system you are proposing..

ps. I'm also a designer, you can send me a PM!

[kramchers]

Inspired by Satoshi Nakamoto's design of Bitcoin, initiate to construct a simple peer-to-peer system, and Bitsand is the smallest unit of circulation in this system. Like Bitcoin, Bitsand can be sent and received using a peer-to-peer network. Bitcoin's proof-of-work guarantees the decentralization of its issuance process by consuming external resources of the system, but the proof-of-stake can ensure the consistency and stability of the system at a lower cost from the perspective of system operation. Bitsand will be issued on the basis of Bitcoins which is already produced under the proof-of-work. All Bitsand will be obtained from the destruction of Bitcoins, and the system will continue to operate under the proof-of-stake. Bitsand was created only out of interest, and the value of this system depends on how people are willing to use it.

Anyone can upload your designs here or publish your Bitsand version independently, let us do something interesting...

bitsand.org

Bitcoin Smasher

bitcoinsmasher@protonmail.com

I don't understand what your talking about here, what design? it is not very clear what it is dude.
All I understood was introduction about the Bitsand anyway and you compared it too into bitcoin even it is not,
can you provide any link about this matter, so we can easily get what your trying to intend here.

[OgNasty]

I’m glad I’m not the only one who was left confused here. It sounds like he wants to destroy your Bitcoin and in exchange give you a PoS altcoin. Not mentioned is the number of Bitsand in existence or any information on Bitsand at all actually, outside of the mention that is will be PoS. No whitepaper, no GitHub, and seemingly no skin in the game outside of this post has me a bit skeptical.

[Vod]

I’m glad I’m not the only one who was left confused here. It sounds like he wants to destroy your Bitcoin and in exchange give you a PoS altcoin. Not mentioned is the number of Bitsand in existence or any information on Bitsand at all actually, outside of the mention that is will be PoS. No whitepaper, no GitHub, and seemingly no skin in the game outside of this post has me a bit skeptical.

Geez OG - look at his username.   We get threads like this all the time.  Everyone feels a new "fair" distribution would be a great idea, but "fair" just means to people that missed the original.    Are you taking his post seriously, or just posting for your campaign?

BTW - if you don't know the quantity of something, that doesn't make it infinite.   

[Theb]

All Bitsand will be obtained from the destruction of Bitcoins, and the system will continue to operate under the proof-of-stake. Bitsand was created only out of interest, and the value of this system depends on how people are willing to use it.

How do you destroy Bitcoin by the way? I mean it's either some kind of worldwide blanket ban or your project will just buy Bitcoin and then lock it out in a wallet you won't use, the latter of course has no guarantee that someone will abuse it. So what's your idea in mind on how you will destroy Bitcoin? It's funny how your project is "inspired" by Satoshi but with your way where your altcoin's success depends on the destruction of Bitcoin is something that isn't really respectible IMO.

[Vod]

I don't understand what your talking about here, what design? it is not very clear what it is dude.
All I understood was introduction about the Bitsand anyway and you compared it too into bitcoin even it is not,
can you provide any link about this matter, so we can easily get what your trying to intend here.

Garbage like this being merited proves the race for the largest merit circle is alive in 2021!

[Husires]

Anyone can upload your designs here or publish your Bitsand version independently, let us do something interesting...

Are you talking about sidechain network? or are you talking about HardFork, where members will get the same number of coins, and then we will turn into POS?
if the last one why need to get free cheap coins and how dev can make money? print more bitsand?

The problem of proving the stake is the central one, which will make the conversion fee higher than before, as the weak hash rate will make the 51% attack possible.