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Offline santaclause102

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Promoting a DPOS upgrade to Bitcoin?
« on: August 29, 2014, 08:18:17 PM »

Why promote an upgrade of Bitcoin like https://www.facebook.com/video.php?v=537973506349416&set=vb.408134445999990&type=2&theater ?
Disadvantages: Bitcoin is a competitor. Bitcoin's network effect hand mindshare could leave Bitshares(x) in the sand.
Advantage: It would increase the credibility of Bitshares (and it's team) and people would start to ask whether they want to trust the chain who came up with the system or the Bitcoin team who just begins to understand it/the code.

What do you think?
« Last Edit: August 29, 2014, 08:21:06 PM by delulo »

Online CLains

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Re: Promoting a DPOS upgrade to Bitcoin?
« Reply #1 on: August 29, 2014, 08:25:23 PM »
atm BitShares is not in competition with any mere coin

the focus is on bitAssets, DNS, Lotto, Vote, Music, ...

if someone launches a successful BitShares-platform coin and doesn't honor PTS/AGS, then that's just our loss and fault for not being able to engage allies that would have created a PTS/AGS honoring BitShares coin

Offline hughmanwho

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Re: Promoting a DPOS upgrade to Bitcoin?
« Reply #2 on: August 29, 2014, 08:26:59 PM »
I don't see you convincing miners to scrap their mining machines and switch to DPOS.  Different mindset in the Bitcoin community.

In fact most still believe that the 'Nothing at Stake' problem makes POS not feasible.

Offline Empirical1

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Re: Promoting a DPOS upgrade to Bitcoin?
« Reply #3 on: August 29, 2014, 08:27:39 PM »
Why promote an upgrade of Bitcoin like https://www.facebook.com/video.php?v=537973506349416&set=vb.408134445999990&type=2&theater ?
Disadvantages: Bitcoin is a competitor. Bitcoin's network effect hand mindshare could leave Bitshares(x) in the sand.
Advantage: It would increase the credibility of Bitshares (and it's team) and people would start to ask whether they want to trust the chain who came up with the system or the Bitcoin team who just begins to understand it/the code.

What do you think?

My response would be the same as when I thought Ethereum was considering DPOS and some dude want to drop an Ethereum clone called æthereum onto a 100% Bitcoin snapshot...

Quote
I have looked at airdrops before and it's pretty unanimous so far that it just crushes the price and doesn't create user adoption. So I thought the Ethereum airdrop planned here was fine, just futile. Considering the proportion of miners involved in Bitcoin and the number of POW fanboys, trying to bootstrap an ethereum clone based on DPOS onto Bitcoin seemed even more implausible. I think it would just be free advertising for the real Ethereum. Just my opinion, you're entitled to yours.

https://bitcointalk.org/index.php?topic=563925.msg8405434#msg8405434

Offline luckybit

Re: Promoting a DPOS upgrade to Bitcoin?
« Reply #4 on: August 29, 2014, 08:50:06 PM »
Why promote an upgrade of Bitcoin like https://www.facebook.com/video.php?v=537973506349416&set=vb.408134445999990&type=2&theater ?
Disadvantages: Bitcoin is a competitor. Bitcoin's network effect hand mindshare could leave Bitshares(x) in the sand.
Advantage: It would increase the credibility of Bitshares (and it's team) and people would start to ask whether they want to trust the chain who came up with the system or the Bitcoin team who just begins to understand it/the code.

What do you think?

Not a good idea. Cooperative Proof of Stake is already being promoted as an upgrade to Bitcoin.
It's not sagacious to recklessly step on the toes of other developers. https://bitcointalk.org/index.php?topic=584719.0

And I said the same thing about stepping on the toes of Charlie Lee and the Litecoin developers.

Before you upgrade their chain you have to get permission from the core devs because they'll be the people who maintain the new chain. This is why 9 times out of 10 when you sharedrop in that way it's a pump and dump. Anyone can put a new skin on DPoS, label it Bitcoin or Litecoin 2, and then step away.

« Last Edit: August 29, 2014, 08:51:58 PM by luckybit »
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Offline bytemaster

Re: Promoting a DPOS upgrade to Bitcoin?
« Reply #5 on: August 29, 2014, 09:32:24 PM »
I would be very surprised if Bitcoin could upgrade to proof of stake in the next 3 years.
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Offline santaclause102

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Re: Promoting a DPOS upgrade to Bitcoin?
« Reply #6 on: August 30, 2014, 07:43:07 AM »
I would be very surprised if Bitcoin could upgrade to proof of stake in the next 3 years.
"Could" as their (technical) capabilities are limited?

atm BitShares is not in competition with any mere coin

the focus is on bitAssets, DNS, Lotto, Vote, Music, ...

if someone launches a successful BitShares-platform coin and doesn't honor PTS/AGS, then that's just our loss and fault for not being able to engage allies that would have created a PTS/AGS honoring BitShares coin
In case BitAssets doesnt work a DPOS coin is a direct competitor to Bitcoin. I'd even say it's a direct competitor any way as BitUSD has the same use case as Bitcoin (money) just a different appraoch.
Bitcoin could also adapt the whole package: DPOS, BitAssets, TITAN etc.

I'd conclude that talking about a Bitcoin upgrade can make sense for PR reasons, maybe in a figurative sense ("Bitshares is the upgrade to Bitcoin").
I wouldnt see a reason why such a Bitcoin upgrade should have the technical and community support of BitShares (BM advising the Bitcoin foundation on the implementation).

 

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