Author Topic: Where are we going?  (Read 6451 times)

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Offline phoenix

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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.
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Offline 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.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline phoenix

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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?
Protoshares: Pg5EhSZEXHFjdFUzpxJbm91UtA54iUuDvt
Bitmessage: BM-NBrGi2V3BZ8REnJM7FPxUjjkQp7V5D28

Offline 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.   
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

vegasbitcoin

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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.



Offline 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? 
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Mrrr

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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.

Offline barwizi

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

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

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

Offline 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.   
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline barwizi

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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.
--Bar--  PiNEJGUv4AZVZkLuF6hV4xwbYTRp5etWWJ

The magical land of crypto, no freebies people.

Offline 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? 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline barwizi

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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.
« Last Edit: November 21, 2013, 08:40:05 am by barwizi »
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Offline 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.

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline barwizi

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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.
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The magical land of crypto, no freebies people.