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Offline tonyk

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Now that DPOS is pretty close to being ready, why not test it as 90% airdrop on LTC (90/5/5 LTC/PTS/AGS)?


-One should not be concerned even with massive dump – it is not some core DAC that needs to preserve value;
- Much bigger test base (as number of transactions/participants etc.)
-The non-inflation feature of DPOS vs POW combined with the very low dilution of LTS might just work and bring significant benefits from something that we planned for just as a DPOS test run.

[Edit] The name is not important at all. You can call it DPOS Coin...
« Last Edit: June 16, 2014, 08:40:03 PM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline JoeyD

Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #1 on: June 16, 2014, 07:48:08 PM »
Maybe the percentages could be based of relative market-caps at date of snapshot, so that the airdrop-split is derived from a LTC+PTS+AGS total.

Also maybe add a developer incentive either via percentage cut or dilution-paying for development/marketing/growth. Hell why not use your typo and just name it the TLC-percentage.

Offline hadrian

Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #2 on: June 16, 2014, 07:58:39 PM »
Now that DPOS is pretty close to being ready, why not test it as 90% airdrop on LTC (90/5/5 TLC/PTS/AGS)?


-One should not be concerned even with massive dump – it is not some core DAC that needs to preserve value;
- Much bigger test base (as number of transactions/participants etc.)
-The non-inflation feature of DPOC vs POW combined with the very low dilution of LTS might just work and bring significant benefits from something that we planned for just as a DPOS test run.

This would be an intriguing test.
It'd be fascinating to see how it would be received by people.
Would you call it Delitecoin?

Pardon my ignorance / lack of understanding, but I don't know exactly what you mean by, "The non-inflation feature of DPOC vs POW combined with the very low dilution of LTS".
Can someone explain this?

Are there any other altcoins worth considering as well as or instead of Litecoin?
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Offline toast

Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #3 on: June 16, 2014, 08:07:43 PM »
I think image issues... Calling it "Litecoin 2.0" will make people undervalue how much innovation there.
Plus litecoin is sort of defined by its POW algorithm innovation, calling it litecoin 2.0 is very clearly just piggybacking off of the brand.

Plus the whole point is that we build DACs that generate demand for themselves. Litecoin 2.0 would not do this.
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Offline hadrian

Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #4 on: June 16, 2014, 08:15:06 PM »
I think image issues... Calling it "Litecoin 2.0" will make people undervalue how much innovation there.
Plus litecoin is sort of defined by its POW algorithm innovation, calling it litecoin 2.0 is very clearly just piggybacking off of the brand.

Plus the whole point is that we build DACs that generate demand for themselves. Litecoin 2.0 would not do this.

Just call it proofofconceptfordelegatedproofofstakecoin then? Hahahahahaha!
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Offline tonyk

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Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #5 on: June 16, 2014, 08:45:31 PM »

Plus the whole point is that we build DACs that generate demand for themselves. Litecoin 2.0 would not do this.

Other than pure stubbornness, is there any logic driving such decision?
Bad image???
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline toast

Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #6 on: June 16, 2014, 08:50:18 PM »
Not sure what you mean, I meant that it is because of "bad image" in two ways: underselling our product and misleading about what our product is all about
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Offline tonyk

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Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #7 on: June 16, 2014, 08:57:23 PM »
 Do you think it would be a bad image if you have a product that does not create a demand for itself?

[EDIT] Even if it is meant to test  a technology to be used in 100 products that do create demand for themselves
« Last Edit: June 16, 2014, 08:59:50 PM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

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Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #8 on: June 16, 2014, 08:59:20 PM »
I also cant see so much pros ...

Converting pts to dpos 100% soon makes more sense too me than just another altcoi.
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Offline toast

Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #9 on: June 16, 2014, 09:04:03 PM »
Do you think it would be a bad image if you have a product that does not create a demand for itself?

[EDIT] Even if it is meant to test  a technology to be used in 100 products that do create demand for themselves

well XT doesn't, but it's at least a proto-DAC for X which does (XT -> X association). Litecoin doesn't and neither would litecoin 2.0 (Litecoin association).

Plus XT is more about the snapshot than about testing. We would not launch either one until we're "sure" it works, as both are intended for real transactions
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Offline tonyk

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Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #10 on: June 16, 2014, 09:13:14 PM »
I also cant see so much pros ...

Converting pts to dpos 100% soon makes more sense too me than just another altcoi.


-It will test the concept on much larger scale – DPOS will be handling ‘hopefully’ thousand transaction / min and the PTS is having what 100-200 per day?
- I am probably a minority on that but I’m not a big fan of –let’s make BTS XT just to test DPOS. Initial problems with it might lead to low prices, that will lead to cheap way in for the real product  -BTS X…


Do you think it would be a bad image if you have a product that does not create a demand for itself?

[EDIT] Even if it is meant to test  a technology to be used in 100 products that do create demand for themselves

well XT doesn't, but it's at least a proto-DAC for X which does (XT -> X association). Litecoin doesn't and neither would litecoin 2.0 (Litecoin association).

Plus XT is more about the snapshot than about testing. We would not launch either one until we're "sure" it works, as both are intended for real transactions

Read  the second part of my response to xeroc, please.
Plus, I feel XT is quite counter snapshot – i.e. if anything it provides possibility for people to buy in X  much later  than 2/28 and I think that the price can be lower than what it was in February.

« Last Edit: June 16, 2014, 09:28:36 PM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Amazon

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Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #11 on: June 16, 2014, 09:25:47 PM »
I will feel uncomfortable if someone comes from Litecoin community and say hey, we made bitshares 2.0. It is minable with your GPU and giving 90% to bitshares holder and 10% to Litecoin holders.
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Offline tonyk

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Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #12 on: June 16, 2014, 09:32:14 PM »
I will feel uncomfortable if someone comes from Litecoin community and say hey, we made bitshares 2.0. It is minable with your GPU and giving 90% to bitshares holder and 10% to Litecoin holders.

True! But true for any airdrop..(OK maybe not every airdrop but how about DNS on namecoin?)  And I will allow myself to use Stan’s response to that – 'What if you present it as a gift?'
« Last Edit: June 16, 2014, 09:41:11 PM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline luckybit

Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #13 on: June 17, 2014, 08:51:30 AM »
Now that DPOS is pretty close to being ready, why not test it as 90% airdrop on LTC (90/5/5 LTC/PTS/AGS)?


-One should not be concerned even with massive dump – it is not some core DAC that needs to preserve value;
- Much bigger test base (as number of transactions/participants etc.)
-The non-inflation feature of DPOS vs POW combined with the very low dilution of LTS might just work and bring significant benefits from something that we planned for just as a DPOS test run.

[Edit] The name is not important at all. You can call it DPOS Coin...

I think this would be a "hostile takeover" attempt and I'm against it.

Litecoin does not want to convert to DPoS because they want to mine. So there is no point in trying to force our principles on them. If we did that all it would result in is LTS being dumped, bad press, and it would turn the LTC community hostile toward us.

I will go into what I think should be done in more detail after Bitshares is finally released buy I've put my marketing strategy into the right hands and onto the forum.

The principle behind it all is to reward innovation, and to not make it easy for the winners of one blockchain to transfer their power to another blockchain risk free. So if you've got a lot of Litecoins because you've got some ASIC farm or a lot of Bitcoins because you've invented some chip to mine with I don't believe you should be rewarded for centralizing the hashing power. So I don't agree with gifting mining pools, chip makers, the electric company or any of that.

But I do think we should reward genuine pioneers, risk takers, and people who show real interest in PoS. People who just want to mine but who don't care about whether or not it's centralizing, or whether or not it's promoting technological progress, why reward that?

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Offline xeroc

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Re: What are the arguments for not testing DPOS as Litecoin 2.0?
« Reply #14 on: June 17, 2014, 09:16:57 AM »
But I do think we should reward genuine pioneers, risk takers, and people who show real interest in PoS. People who just want to mine but who don't care about whether or not it's centralizing, or whether or not it's promoting technological progress, why reward that?
+NXT -- innovative / new blockchain tech / decentralized asset exchange
+Monero -- innovative / new bc / new signature scheme
+Peercoin -- innovative / first pos altough still minable :(
+Blackcoin -- first(?) PoS-only (not so much innovation)

Maybe we should build a compilation of pro/cons for each coin
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