Come-from-Beyond (OP)
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April 01, 2014, 07:03:41 PM |
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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.
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marcus03
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April 01, 2014, 07:11:12 PM |
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Interested.
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opticalcarrier
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April 01, 2014, 07:17:00 PM |
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... 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 |
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bitcoinpaul
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April 01, 2014, 07:37:25 PM |
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Half a year ago it became crystal clear for him that Bitcoin, as an idea of trustless money, had failed.
Bummer. |
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eB101
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April 01, 2014, 07:38:18 PM |
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Nxt is just a work-around, it was launched to win more time Does it officially make nxt a short term system & currency?  Until a master takes over 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!? |
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bitcoinpaul
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April 01, 2014, 07:39:20 PM |
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BCNext of course. Right before a gig.
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bitcoinpaul
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April 01, 2014, 07:41:27 PM
Last edit: April 01, 2014, 07:52:56 PM by bitcoinpaul |
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Now cut the crap and let's continue working on TM, my friends  |
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salsacz
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April 01, 2014, 07:50:29 PM |
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I am glad I was wrong  So BCNext could be Satoshi or Vitalik |
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Fatih87SK
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April 01, 2014, 08:01:31 PM |
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Wtf does this mean? Buy or sell? :p
I want to buy the moon.
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gs02xzz
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April 01, 2014, 08:10:29 PM |
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I am glad I was wrong So BCNext could be Satoshi or Vitalik You meant if it was Vitalik, the Etherum is the main project? |
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Come-from-Beyond (OP)
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April 01, 2014, 08:11:31 PM |
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I am glad I was wrong So BCNext could be Satoshi or Vitalik You meant if it was Vitalik, the Etherum is the main project? Hm, this makes sense... |
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ceric35
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April 01, 2014, 08:16:59 PM |
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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  |
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LiQio
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April 01, 2014, 08:18:12 PM |
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I am glad I was wrong 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.. |
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eB101
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April 01, 2014, 08:24:20 PM |
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I am glad I was wrong 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 |
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Fatih87SK
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April 01, 2014, 08:24:47 PM |
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I don't care if Ethereum could be the main project. We can beat them.
Maybe he created a monster that he cannot control.
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Come-from-Beyond (OP)
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April 01, 2014, 08:30:29 PM |
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nxt is dead??? No. Bitcoin is. |
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gs02xzz
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April 01, 2014, 08:31:01 PM |
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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. |
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