Where are we going?

[phoenix]

So, is the lottery system entirely optional? People could still mine the standard way (with a longer maturity period) on pools and get a steady income, but the people hoping to win big could opt to solo-mine on the lottery system?

Correct, the loto-system would be a low-overhead extra that adds value to the overall coin.

Ok. Now I'll need to decide how to best split my limited resources between regular and lottery mining.

[bytemaster]

So, is the lottery system entirely optional? People could still mine the standard way (with a longer maturity period) on pools and get a steady income, but the people hoping to win big could opt to solo-mine on the lottery system?

Correct, the loto-system would be a low-overhead extra that adds value to the overall coin.

[phoenix]

So, is the lottery system entirely optional? People could still mine the standard way (with a longer maturity period) on pools and get a steady income, but the people hoping to win big could opt to solo-mine on the lottery system?

[bytemaster]

People pool for consistent earnings.
All this lotto stuff seems to encourage pools even more.

Would I not just create PTSv2.0MiningPoolDAC ?
The pool would mine to its DACWallet.
And issue shares to pool members in proportion to their contributions.

The Loto System is done at odds that are significantly less profitable on average.  So a pool that opted for the lottery system rather than the default mining behavior would earn much less on average.  Only those in search of irrational hope would mine on the lottery setting.   

[vegasbitcoin]

People pool for consistent earnings.
All this lotto stuff seems to encourage pools even more.

Would I not just create PTSv2.0MiningPoolDAC ?
The pool would mine to its DACWallet.
And issue shares to pool members in proportion to their contributions.

[bytemaster]

This sounds very interesting. Keeping my eyes peeled and my computer ready  8)

i thought we'd make this one mineable by calculators only.....

Now there is a very calculated move.   Are you sure this wouldn't favor the TI-89 users over those with solar power 4 function calculators?  I just worry that it might result in too much centralization.   And how do you plan to solve bugs caused by overweight trailer trash fat fingering things?     Perhaps we should require an abacus? 

[Mrrr]

This sounds very interesting. Keeping my eyes peeled and my computer ready  8)

i thought we'd make this one mineable by calculators only.....

Hear hear. I've always wanted to rent myself a sweatshop.

[barwizi]

This sounds very interesting. Keeping my eyes peeled and my computer ready  8)

i thought we'd make this one mineable by calculators only.....

[andhar]

This sounds very interesting. Keeping my eyes peeled and my computer ready  8)

[bytemaster]

meh, i go through the code sometimes. so, who is on the dev team? What is the timeline and can i get a full list of the expectations? oh and i advocate imposing a floor on the tx per block, hard coding so this 1 tx per block thing cannot be repeated.

Dev Team for what?

who is making your experiment? and when can we expect it? i am willing to try.

We are defining the SPECS now, but the next experiment will be a dividend paying crypto currency with a 2 week vesting period combined with the loto-mining twist to encourage solo-miners over pools.   

[barwizi]

meh, i go through the code sometimes. so, who is on the dev team? What is the timeline and can i get a full list of the expectations? oh and i advocate imposing a floor on the tx per block, hard coding so this 1 tx per block thing cannot be repeated.

Dev Team for what?

who is making your experiment? and when can we expect it? i am willing to try.

[bytemaster]

meh, i go through the code sometimes. so, who is on the dev team? What is the timeline and can i get a full list of the expectations? oh and i advocate imposing a floor on the tx per block, hard coding so this 1 tx per block thing cannot be repeated.

Dev Team for what? 

[barwizi]

meh, i go through the code sometimes. so, who is on the dev team? What is the timeline and can i get a full list of the expectations? oh and i advocate imposing a floor on the tx per block, hard coding so this 1 tx per block thing cannot be repeated.

[bytemaster]

You seem to understand most of the mechanics.  From the date one chain is cloned into the genesis block of the next chain the positions are divergent and a spend in the PTS chain will not be reflected in the PTS2 chain and this is by design.

[barwizi]

Please define 'secured'?

We are integrating lessons learned from ProtoShares into a new experimental DAC that will address a lot of the issues and try them out.    If you would like to help build our next generation experiment we would love to work with you, but our social contract of honoring ProtoShares in the genesis block of all new chains is not something we are willing to compromise on.   Our next 'Test DAC' we believe will provide a very valuable service in a new market area while proving more ideas behind BitShares. 

We are going to release a Request for Proposals on this next DAC in the next few days.

Hehe, i just had an idea and posted it again, i can jump in on the train. If i have it right, it means making a fork of Proto by taking a block from the chain and making it the genesis of the new chain. in effect this may open up merged mining avenues. I'm not sure how the merkle will fit into all  of this, but i am sure we can use it.


the new chain will carry over the data from the older chain and then additional generated blocks will be added onto the inintials coming in with the genesis. But this effectively means that proto mined after this block will not be usable with the new chain. but considering that half the chain has been mined already that may not be so bad. Also once the coins  have been moved to the new chain, i doubt they will be backwards compatible.