BitShares Forum

Main => General Discussion => Topic started by: bytemaster on November 07, 2014, 03:41:37 am

Title: Proof of Waste
Post by: bytemaster on November 07, 2014, 03:41:37 am
I would like to recommend that our community start referring to POW as proof of waste in all conversations about bitcoin.

I would then like suggest that we refer to our system as a "Real Proof of Work" system where by all stakeholders have come by their stake by doing valuable work.

Credit for this belongs to: John Underwood, former CEO of Sun Microsystems Australia who was visiting with us these past 2 days in VA. 
http://ph.linkedin.com/in/underwun
Title: Re: Proof of Waist
Post by: fluxer555 on November 07, 2014, 03:42:49 am
*Waste

lol. For being the genius you are, your grammar needs some work!
Title: Re: Proof of Waste
Post by: bytemaster on November 07, 2014, 03:44:50 am
*Waste

lol. For being the genius you are, your grammar needs some work!

I have always sucked at spelling ;)   Memorization is not my strong suite... spelling cannot be reduced to logical abstractions.
Title: Re: Proof of Waste
Post by: starspirit on November 07, 2014, 03:45:27 am
I would like to recommend that our community start referring to POW as proof of waste in all conversations about bitcoin.

I would then like suggest that we refer to our system as a "Real Proof of Work" system where by all stakeholders have come by their stake by doing valuable work.

Like it. I assume you mean Proof of Waste.
Title: Re: Proof of Waste
Post by: fluxer555 on November 07, 2014, 03:49:18 am
proof of waist

(http://i.imgur.com/XqSgWsj.jpg)
Title: Re: Proof of Waste
Post by: gamey on November 07, 2014, 03:50:22 am
I honestly sat here for a bit wondering if you meant POW miners were fat'n'lazy and to not be as offensive as proof of waste.  looolz.
Title: Re: Proof of Waste
Post by: starspirit on November 07, 2014, 03:53:17 am
Real Proof of Work could also be conceived as a Proof of Value or Proof of Worth (e.g. its conceivable we could pay shares for capital already created - such as buying in another network or application).
But Real Proof of Work is a more pointed jab at bitcoin.
Title: Re: Proof of Waste
Post by: zerosum on November 07, 2014, 04:00:37 am

I have always sucked at spelling ;)   Memorization is not my strong suite... spelling cannot be reduced to logical abstractions.

I will quote you...and that means A LOT of quotes  :)
Title: Re: Proof of Waste
Post by: roadscape on November 07, 2014, 04:02:55 am
I would like to recommend that our community start referring to POW as proof of waste in all conversations about bitcoin.

I would then like suggest that we refer to our system as a "Real Proof of Work" system where by all stakeholders have come by their stake by doing valuable work.

I like it.
Title: Re: Proof of Waste
Post by: myhometalk on November 07, 2014, 04:07:55 am
LOL. It is proof of waste
Title: Re: Proof of Waste
Post by: bytemaster on November 07, 2014, 04:11:17 am
Credit for this belongs to: John Underwood, former CEO of Sun Microsystems Australia who was visiting with us these past 2 days in VA. 
http://ph.linkedin.com/in/underwun
Title: Re: Proof of Waste
Post by: Riverhead on November 07, 2014, 04:24:27 am
Interesting company you folks are mixing with.
Title: Re: Proof of Waste
Post by: JWF on November 07, 2014, 04:41:23 am
Credit for this belongs to: John Underwood, former CEO of Sun Microsystems Australia who was visiting with us these past 2 days in VA. 
http://ph.linkedin.com/in/underwun (http://ph.linkedin.com/in/underwun)

unofficial or official consultant?

Long term or was this a one off?

Appears this could have some nice potential for assistance.
Title: Re: Proof of Waste
Post by: Ander on November 07, 2014, 04:49:06 am
I love it! :)

Well done.
Title: Re: Proof of Waste
Post by: bytemaster on November 07, 2014, 05:27:01 am
Credit for this belongs to: John Underwood, former CEO of Sun Microsystems Australia who was visiting with us these past 2 days in VA. 
http://ph.linkedin.com/in/underwun (http://ph.linkedin.com/in/underwun)

unofficial or official consultant?

Long term or was this a one off?

Appears this could have some nice potential for assistance.

John has been working with us and following our progress for almost a year.  We are laying the ground work for how we can work together to support the remittance industry. 

After the past two days I suspect good things to come from this relationship.
Title: Re: Proof of Waste
Post by: Ander on November 07, 2014, 05:57:58 am
Credit for this belongs to: John Underwood, former CEO of Sun Microsystems Australia who was visiting with us these past 2 days in VA. 
http://ph.linkedin.com/in/underwun (http://ph.linkedin.com/in/underwun)

unofficial or official consultant?

Long term or was this a one off?

Appears this could have some nice potential for assistance.

John has been working with us and following our progress for almost a year.  We are laying the ground work for how we can work together to support the remittance industry. 

After the past two days I suspect good things to come from this relationship.

I love this new bitshares where we talk about positive developments and things that will cause growth and add value and change the world, rather than suffer through community drama. :)
Title: Re: Proof of Waste
Post by: xeroc on November 07, 2014, 06:57:00 am
+5% for waste .. and another +5% for john ;)
Title: Re: Proof of Waste
Post by: Ander on November 08, 2014, 07:48:38 pm
The picture of the bitcoin mining company that burned recently would be great to go along with 'proof of waste'.

(http://i.kinja-img.com/gawker-media/image/upload/s--vxmgcr2C--/c_fit,fl_progressive,q_80,w_636/pepxlzrotfmujmjwjp0c.jpg)
Title: Re: Proof of Waste
Post by: CLains on November 08, 2014, 10:02:30 pm
For me the only issue with this is: I don't want to tank BTC price. If BTC keeps gradually rising 20% a month now during the coming year, we will have no problems at all establishing the superDAC and all our dreams will come true. If BTC keeps falling 20 % a month now during the coming year we are all majorly fucked my friends, and I think you all are delusional to deny it.
Title: Re: Proof of Waste
Post by: Ander on November 08, 2014, 10:04:58 pm
I doubt we will tank the BTC price.


To me, there is one good way that the BTC price can tank - if it is surpassed by BTS. 

Even then, I expect that what will occur is that while BTC goes up by a factor of 10, BTS will go up by a factor of 100.
Title: Re: Proof of Waste
Post by: matt608 on November 08, 2014, 10:15:28 pm
So what, have the user take a belly selfie and reference that against the NSA tummy database (NSATD)?
Title: Re: Proof of Waste
Post by: roadscape on November 09, 2014, 12:05:45 am
The picture of the bitcoin mining company that burned recently would be great to go along with 'proof of waste'.

(http://i.kinja-img.com/gawker-media/image/upload/s--vxmgcr2C--/c_fit,fl_progressive,q_80,w_636/pepxlzrotfmujmjwjp0c.jpg)

Wow. Source?
Title: Re: Proof of Waste
Post by: Ander on November 09, 2014, 03:04:27 am
Wow. Source?

Tons of articles about it all over the internet.
Title: Re: Proof of Waste
Post by: roadscape on November 09, 2014, 03:12:15 am
Wow. Source?

Tons of articles about it all over the internet.

Fine. I'll look. :p

I knew it was a bad idea to be away from the internet for 24 hours...