Should we Abandon Proof of Stake Marketing?

[noisy]

Bitshares runs on POO huh? :) 

Maybe we can spin that as the eco-environmental biofuel angle. :)

I have just realized what word this will create :(

This was not intentional. Nevertheless, maybe we could came up with something with similar meaning.

[BunkerChainLabs-DataSecurityNode]

After reading a thread Will you vote yes on Bytemaster's "free transactions" proposal that he talked about at last shareholder meeting? and listening last beyond bitcoin hangout now I understand why this topic was created.

BM idea for me seems to be very innovative. I really like the idea, that I can buy not only a cryptocurrency, but also a right to use it bandwidth in the future. Right now bitcoins transfers seems to be cheap, but we do not know, what will happen, when Moore's law will stop work... and bitcoin network will have to rise the fees. It may be possible, that bitcoin will not scale to global usage so easily.

In the other hand, right now I can buy very easily significant amount of bitshares (because it is cheap) and buy the right to have a priority to use bitshares network for transactions.

I really like the analogy with shared house in the mountain, which can be used by all owners, according to some rules. Having that in mind, I would like to propose new name:

Proof of Ownership

it is simple, flexible... and all of us like to own things :)

This will be very easy to explain to people, that with buying a bitshares they also buy rights to:
- use network infrastructure
- vote through a system and make a decisions about their property
- as owner of the network they acquire rights to hire people (developers, witnesses)
- own the future profits (through the network effect) + future optional fees

People love to collect different things, what means that word "Ownership" has very positive connotation.

Bitshares runs on POO huh? :) 

Maybe we can spin that as the eco-environmental biofuel angle. :)

[noisy]

After reading a thread Will you vote yes on Bytemaster's "free transactions" proposal that he talked about at last shareholder meeting? and listening last beyond bitcoin hangout now I understand why this topic was created.

BM idea for me seems to be very innovative. I really like the idea, that I can buy not only a cryptocurrency, but also a right to use it bandwidth in the future. Right now bitcoins transfers seems to be cheap, but we do not know, what will happen, when Moore's law will stop work... and bitcoin network will have to rise the fees. It may be possible, that bitcoin will not scale to global usage so easily.

In the other hand, right now I can buy very easily significant amount of bitshares (because it is cheap) and buy the right to have a priority to use bitshares network for transactions.

I really like the analogy with shared house in the mountain, which can be used by all owners, according to some rules. Having that in mind, I would like to propose new name:

Proof of Ownership

it is simple, flexible... and all of us like to own things :)

This will be very easy to explain to people, that with buying a bitshares they also buy rights to:
- use network infrastructure
- vote through a system and make a decisions about their property
- as owner of the network they acquire rights to hire people (developers, witnesses)
- own the future profits (through the network effect) + future optional fees

People love to collect different things, what means that word "Ownership" has very positive connotation.

[brainbug]

there is another way to describe DPOS consensus without using POS.

Leave it alone, focus, get back to work, get us the list of stuff promised on the bitshares.org homepage. Please.

What about C3PO, "Consensus based 3-Party-Order", where three refers to delegates, witnesses, and workers ?

[kenCode]

there is another way to describe DPOS consensus without using POS.

Leave it alone, focus, get back to work, get us the list of stuff promised on the bitshares.org homepage. Please.

[cylon]

why change your brand unless you can beat the original? 





What's better New Coke:
























or Coke Classic
























end of thread

you think that the quarter billion in ETH even cares if they are POW or POS?

NO

smart money only cares for smart contracts, so how are ours coming along?

talking about anything else is dumb because threads like this do not showcase our money makers

what is the biggest thing to hit crypto in the past year?

Proof of anything?

Sorry, but nothing compares to the rise of Ethererum (the BitShares killer because they talk smart contracts while we talk "airdrops, vesting, mergers, and consensus" which nobody cares about)


sorry, what were we talking about again?

oh, yeah, of course, nothing that the latest billion dollars in public crypto capital investment cares about.

carry on then

what percentage of the new billion in crypto investment does this puny little DAC need to become self sustaining?

[cass]

IMO we should stick with DPOS ... it is established and known ... and each change could have negative influence .. Number 1# for building a brand is consistence ..my 2 cents ...

[monsterer]

Totally agree with this^^

No one cares about proof of whatever... as long as it's secure, which most cryptos have already proved to be.

Most crypto's haven't come under attack because their market caps are insufficient to present a sizeable enough reward. Do not mistake what has happened for what could happen. This is why we have white papers and proofs.

[mint chocolate chip]

Proof of Confusion.

Do we still elect delegates?

All network parameters, from fee schedules to block intervals and transaction sizes, can be tuned via elected delegates

https://bitshares.org/technology/

Other references to delegates on the bitshares.org site:
https://bitshares.org/technology/delegated-proof-of-stake-consensus/
https://bitshares.org/technology/stakeholder-approved-project-funding/
https://bitshares.org/technology/transferable-named-accounts/
https://bitshares.org/referral-program/

This is likely just one of several examples of out-of-date information. Maybe we can get a worker to update the text on the site?

[luckybit]

While I don't think we should change marketing of DPOS. An alternative could be collaborative consensus algorithm. @bytemaster

[lil_jay890]

what's wrong with calling us "proof of work"?

what do you call your miners?

"workers"

ok then

Bitcoin calls their workers: "miners" so they should change their name to Proof of Mine

What are our workers doing that bitcoin's "miners"(workers) aren't?

Bitshares is more POW than bitcoin if anybody asks me, but since we are on the coinmarketcap 100, nobody asks or cares what consensus model you use anymore because none have been hacked and none are 100% decentralized.

+1

No, shet, who cares about about proof of work/burn/stake/importance/activity, none are perfect, and all are secure.

All money cares about now is features.  Ever hear of Ethereum, Factom, Emercoin, Alexandria, Zcash, Synereo, Maidsafe, etc.

It's 2016 already, the proof of "who cares what" is irrelevant to the "what can I use it for?" question.

Proof of consensus was Bitcoin1.0

Proof that your application works is what everyone wants to know about since "proof of anything" has been proven secure from hack/theft.

Tell me this :

When was the last time you had a discussion about "doublespending?"

See, that conversation was abandoned back when we abandoned the POW vs POS arguments ultimately realizing that it is an argument of opinion like what would you do if I started a "what's your favorite flavor of ice cream or nationality of woman?" thread etc...

what we are really just doing here is proof of masturbation... When is the DARK DEX going to be ready?

Totally agree with this^^

No one cares about proof of whatever... as long as it's secure, which most cryptos have already proved to be.

[giant middle finger]

what's wrong with calling us "proof of work"?

what do you call your miners?

"workers"

ok then

Bitcoin calls their workers: "miners" so they should change their name to Proof of Mine

What are our workers doing that bitcoin's "miners"(workers) aren't?

Bitshares is more POW than bitcoin if anybody asks me, but since we are on the coinmarketcap 100, nobody asks or cares what consensus model you use anymore because none have been hacked and none are 100% decentralized.

+1

No, shet, who cares about about proof of work/burn/stake/importance/activity, none are perfect, and all are secure.

All money cares about now is features.  Ever hear of Ethereum, Factom, Emercoin, Alexandria, Zcash, Synereo, Maidsafe, etc.

It's 2016 already, the proof of "who cares what" is irrelevant to the "what can I use it for?" question.

Proof of consensus was Bitcoin1.0

Proof that your application works is what everyone wants to know about since "proof of anything" has been proven secure from hack/theft.

Tell me this :

When was the last time you had a discussion about "doublespending?"

See, that conversation was abandoned back when we abandoned the POW vs POS arguments ultimately realizing that it is an argument of opinion like what would you do if I started a "what's your favorite flavor of ice cream or nationality of woman?" thread etc...

what we are really just doing here is proof of masturbation... When is the DARK DEX going to be ready?   

[betax]

Elected Witness Consensus (last one I promise)

[betax]

Voted Witness Consensus

or

Democratic Witness Consensus

[Stan]

what's wrong with calling us "proof of work"?

what do you call your miners?

"workers"

ok then

Bitcoin calls their workers: "miners" so they should change their name to Proof of Mine

What are our workers doing that bitcoin's "miners"(workers) aren't?

Bitshares is more POW than bitcoin if anybody asks me, but since we are on the coinmarketcap 100, nobody asks or cares what consensus model you use anymore because none have been hacked and none are 100% decentralized.

+1