Bitcoin Forum
December 16, 2017, 11:40:56 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 »  All
  Print  
Author Topic: Transparent mining 3, or What way to choose  (Read 8155 times)
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 1792

Newbie


View Profile
April 01, 2014, 07:03:41 PM
 #1

Below u'll find the 3rd part of Transparent Mining essay, the 1st and 2nd parts r available here - https://bitcointalk.org/index.php?topic=364218.0 and https://bitcointalk.org/index.php?topic=458036.0. The essay is based on text written by BCNext, I paraphrase it in my own words to protect BCNext's real identity against text style analysis (as was agreed).

Bitcoin was a genious invention but implementation became corrupted by people whose aim was to make money, not bitcoins but dollars. BCNext was working on a project that required special conditions for its existence, he hoped that Bitcoin would change the society and prepare ground for the project. Half a year ago it became crystal clear for him that Bitcoin, as an idea of trustless money, had failed. A fix was required and it came in the form of Transparent Mining. "Transparent" is the key word here, it changes focus from "trust no one" to "don't let to cheat", because any cheating becomes obvious very soon (as soon as allowed by network latency). Nxt is just a work-around, it was launched to win more time and to conduct an experiment that was supposed to show if the society is ready for the main project of BCNext. He thinks that society can't be completely decentralized, and Nxt will let to measure level of decentralization after which a society can't function as a whole. Bitcoin relies only on math, but math can't solve problems arising because of illogical nature of the man. Mining in Nxt relies on cooperation of people and even forces it. Without cooperation Nxt becomes weak and can be easily attacked. It's like a system in unstable equilibrium, if people stop to care about cooperation then Nxt will fail very fast.

Now, when you know why Nxt was created your should choose what way to follow. The easiest one is to repeat the history of Bitcoin in hope that something will change. The alternative is to implement Transparent Mining and try to handle people imperfection. The latter can't be done with pure math and even if you manage to find some laws you can't be sure that these laws won't change in the future. BCNext went for good, he doesn't feel himself responsible for the future of Nxt, he implemented an idea that was obvious but noone tried to do it (maybe because creation of a Bitcoin clone was much easier). One day he will come back with his main project under his real name. Don't try to find real identity of BCNext, he intentionally copied style and ideas of different people, if you think you found him then you are likely wrong. BCNext has never existed, this sockpuppet was created only for Nxt and will never appear again.

The plan always was very simple - to show the way that very obvious but avoided for some reason. BCNext doesn't pretend that he possesses sacral knowledge and knows what is awaiting in the end. You are left on your own. Good luck.
1513467656
Hero Member
*
Offline Offline

Posts: 1513467656

View Profile Personal Message (Offline)

Ignore
1513467656
Reply with quote  #2

1513467656
Report to moderator
1513467656
Hero Member
*
Offline Offline

Posts: 1513467656

View Profile Personal Message (Offline)

Ignore
1513467656
Reply with quote  #2

1513467656
Report to moderator
1513467656
Hero Member
*
Offline Offline

Posts: 1513467656

View Profile Personal Message (Offline)

Ignore
1513467656
Reply with quote  #2

1513467656
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513467656
Hero Member
*
Offline Offline

Posts: 1513467656

View Profile Personal Message (Offline)

Ignore
1513467656
Reply with quote  #2

1513467656
Report to moderator
1513467656
Hero Member
*
Offline Offline

Posts: 1513467656

View Profile Personal Message (Offline)

Ignore
1513467656
Reply with quote  #2

1513467656
Report to moderator
1513467656
Hero Member
*
Offline Offline

Posts: 1513467656

View Profile Personal Message (Offline)

Ignore
1513467656
Reply with quote  #2

1513467656
Report to moderator
marcus03
Full Member
***
Offline Offline

Activity: 224


View Profile
April 01, 2014, 07:11:12 PM
 #2

Interested.
opticalcarrier
Full Member
***
Offline Offline

Activity: 238



View Profile
April 01, 2014, 07:17:00 PM
 #3

... The alternative is to implement Transparent Mining and try to handle people imperfection. The latter can't be done with pure math and even if you manage to find some laws you can't be sure that these laws won't change in the future. BCNext went for good, he doesn't feel himself responsible for the future of Nxt, he implemented an idea that was obvious but noone tried to do it (maybe because creation of a Bitcoin clone was much easier)...

I dont get it... was the community supposed to figure out how to fully implement full TF?  WTFO or is some Apr 1 joke
bitcoinpaul
Hero Member
*****
Offline Offline

Activity: 854



View Profile
April 01, 2014, 07:37:25 PM
 #4

Half a year ago it became crystal clear for him that Bitcoin, as an idea of trustless money, had failed.

Bummer.
eB101
Full Member
***
Offline Offline

Activity: 132


View Profile
April 01, 2014, 07:38:18 PM
 #5

Quote
Nxt is just a work-around, it was launched to win more time
Does it officially make nxt a short term system & currency? Sad Until a master takes over

Quote
The easiest one is to repeat the history of Bitcoin in hope that something will change.
What is the outcome of this history? If this way suggests that the algo/math of bitcoin needs to be changed, then I guess only the alternate way aka  nxt TF should occur. Not sure about the meaning here. Maybe the plan is actually a rhetorical question comforting TF

Btw, who was this guy in the picture!?
bitcoinpaul
Hero Member
*****
Offline Offline

Activity: 854



View Profile
April 01, 2014, 07:39:20 PM
 #6

BCNext of course. Right before a gig.
bitcoinpaul
Hero Member
*****
Offline Offline

Activity: 854



View Profile
April 01, 2014, 07:41:27 PM
 #7

Now cut the crap and let's continue working on TM, my friends Kiss
salsacz
Hero Member
*****
Offline Offline

Activity: 490


View Profile
April 01, 2014, 07:50:29 PM
 #8

I am glad I was wrong Smiley So BCNext could be Satoshi or Vitalik

Nxt tips: NXT-R67P-6BZ2-XWAK-8RHZR | Nxt forum | Nxt Academy | Donate for Nxt at the Universities // BTCD: RVMLrnxYYy7uy8YZo9FcGfXbk1ZMnNifdg
Fatih87SK
Hero Member
*****
Offline Offline

Activity: 616



View Profile
April 01, 2014, 08:01:31 PM
 #9

Wtf does this mean? Buy or sell? :p

I want to buy the moon.

bitcoinpaul
Hero Member
*****
Offline Offline

Activity: 854



View Profile
April 01, 2014, 08:03:21 PM
 #10

Deathodl.
LiQio
Legendary
*
Offline Offline

Activity: 1159



View Profile
April 01, 2014, 08:09:46 PM
 #11

Wtf does this mean? Buy or sell? :p

I want to buy the moon.

now is the moment: https://bitcointalk.org/index.php?topic=345619.msg6022441#msg6022441
 Grin
gs02xzz
Full Member
***
Offline Offline

Activity: 221


View Profile
April 01, 2014, 08:10:29 PM
 #12

I am glad I was wrong Smiley So BCNext could be Satoshi or Vitalik

You meant if it was Vitalik, the Etherum is the main project?
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 1792

Newbie


View Profile
April 01, 2014, 08:11:31 PM
 #13

I am glad I was wrong Smiley So BCNext could be Satoshi or Vitalik

You meant if it was Vitalik, the Etherum is the main project?

Hm, this makes sense...
ceric35
Hero Member
*****
Offline Offline

Activity: 571



View Profile
April 01, 2014, 08:16:59 PM
 #14

Wtf does this mean? Buy or sell? :p

I want to buy the moon.

That means that both Bitcoin and Nxt will fail.
But you can't sell it for fiat.
So, you can't do anything  Grin
LiQio
Legendary
*
Offline Offline

Activity: 1159



View Profile
April 01, 2014, 08:18:12 PM
 #15

I am glad I was wrong Smiley So BCNext could be Satoshi or Vitalik

You meant if it was Vitalik, the Etherum is the main project?

Hm, this makes sense...

..the scales fell from my eyes..
eB101
Full Member
***
Offline Offline

Activity: 132


View Profile
April 01, 2014, 08:24:20 PM
 #16

I am glad I was wrong Smiley So BCNext could be Satoshi or Vitalik

You meant if it was Vitalik, the Etherum is the main project?

Hm, this makes sense...

Really don't think so. Why would he "discover" a trap for clones..
Also, at the Miami Bitcoin conference, he did not seem a bit involved in nxt in any way Smiley
Fatih87SK
Hero Member
*****
Offline Offline

Activity: 616



View Profile
April 01, 2014, 08:24:47 PM
 #17

I don't care if Ethereum could be the main project. We can beat them.

Maybe he created a monster that he cannot control.

bitcoinpaul
Hero Member
*****
Offline Offline

Activity: 854



View Profile
April 01, 2014, 08:25:39 PM
 #18

Guys, humor!
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 1792

Newbie


View Profile
April 01, 2014, 08:30:29 PM
 #19

nxt is dead??? Sad

No. Bitcoin is.
gs02xzz
Full Member
***
Offline Offline

Activity: 221


View Profile
April 01, 2014, 08:31:01 PM
 #20

The alternative is to implement Transparent Mining and try to handle people imperfection. The latter can't be done with pure math and even if you manage to find some laws you can't be sure that these laws won't change in the future.

So let's implement the Transparent Mining! But how? I know some guys have been discussing it lately.
Pages: [1] 2 3 4 5 6 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!