It wasn't a post about my goals. I don't know why people would be interested in a post about my goals, being pseudonymously here. I think particular, concrete issues are more interesting for most people to contribute their thoughts and ideas.
Well, I don't really see why you would get a more thought-provoking discussion by using minor modifications to bitcoin as a discussion point.
In an earlier post you said nobody thought about a system like bitcoin before bitcoin, and I showed you how actually a number of people had very clear ideas about it. They just didn't put all the elements in place in a sensible system like Satoshi did.
B-money did not solve the consensus problem even though he had written about using a system like bitcoin's money creation system to create money, he did not link the two together. It's a big black hole of a problem in his design where Satoshi filled the void.
So yeah, implementation is a big, BIG part of the deal. Which is why, while I'm willing to listen to everybody, it will take some convincing to get me working in a system several times more complex than bitcoin. Bitcoin itself is far from "solved" (we still struggle to improve blockchain storage, checkpoint sync, etc and we still find new pros and cons and possible attacks to this day).
Well perhaps you'll be happy to know that Decrits, at least, solves block chain storage and checkpoint sync.
By counter-productive I meant in this particular instance that it would hinder adoption. That's the general impression I get. I've thought of similar schemes but these will need to be thoroughly tested.
The share system is for securing the network. The money creation system is a separate entity. Both systems can easily provide for an early adoption benefit, though it would be nowhere near on the same order as bitcoin's. But there's no point in pretending that bitcoin's characteristics will ever work again--we've already got
that currency.
I have no way to know whether you are capable or not of devising these attacks. If security is not provided by proof of work in some sense (doesn't need to be SHA cracking) you'd have to tell me what and how does the system stop someone from faking a big number of early users of varying characteristics. If you come up with a good answer to this I'd be a lot more interested.
Proof of work is provided by the currency you need to create via minting in order to buy a share. Do something detrimental to the network and you will either instantly or eventually lose your share depending on the transgression. Anyone who doesn't agree on these protocol transgressions will also lose their share in the eyes of the clients, the honest cloudnet, and the honest shareholders. There is no 51% attack against this system, there is really even no 99% attack. The worst anyone can do without losing their stake is delay
some transactions, and I'm working on making sure this is penalized as well. It's a bit delicate though and these are some of the deepest intricacies that I am trying to make rock-solid even though their impact is small unless a very big portion of the shareholders are intent on causing disruption. But the disruption they are able to cause is far less damaging than a 51% attack on bitcoin.
Note that bootstrapping the system is a very delicate part of the process, if you tell me that I need to pay someone in US$ to enter the network then I can only assume that it will fail miserably. Not going to happen. The alternative is basically proof of work of some sort.
The shareholder system does have a big caveat that shareholders will need to exist at the start of the system, but this I plan to resolve by having a community effort in designing and creating the software and awarding shares to people that have an interest in seeing the system succeed. This poses no adoption benefit over early adopters, just a bit of free money. I also plan on requiring that these free shares require at least 6 years of service before being able to be cashed out. Anyone else is free to create money (at the accelerated early adoption rate) and buy a share as well (at the reduced early adoption rate). The system could start out by using proof of work to reach consensus and wait until a minimum number of people have purchased shares before starting the shareholder system, but it will be a lot of extra code for something that isn't strictly necessary. I would never take real money from people for shares, I only used USD as an equivalent value par exemple.
I can only devote so much time to reading and debating other people's ideas instead of working in my own stuff.
Well hey maybe I can convince you that I'm pretty far along in the ideating process and that you should make these ideas part of your own.
