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General Discussion / Re: Profits, Performance, Trust & Efficiency
« on: April 01, 2014, 07:51:23 pm »The result is like a 'constitutional company' where the laws are entirely defined in the constitution and the 'president' can be recalled at any time and has almost no power even when in office.
This same process can be used to resolve when a hard fork goes into effect.
Thoughts?
It seems to me that you are trying to solve a problem that the Bitcoin devs have not even implemented a solution for. (How to stop forks and the 51% attack)
I don't think security is a problem if the companies operating within the framework of the DAC double check their transactions manually.
Yes, a DDOS could still shut down the network for a while, so I guess you just have to buy some DDOS protection from an external source. Is this doable?
You want to remove mining from the equation? Why not just form a traditional corporation? It seems to me that is what you're getting at anyway. You already control the code, so you control everything anyway. How are you going to get people to devote their own computing resources to secure the blockchain?
I have a stake, so I want it to be done right, so take as long as you need to figure out how to implement Bitshares-X. You've already taken the snapshot, perhaps to stimulate interest and discussions like these, I don't know, but it seem to me that the plan for development and implementation of Bitshares-X has gone off on a dangerous tangent.
Am I right? Am I wrong? Am I partially wrong? Am I completely wrong?
The idea of Distributed Autonomous Applications/Companies/etc are important, I think, for the future and freedom of the internet. What are you doing to this end? Is hacking together a bunch of legal rules in a legal off-chain document going to serve this purpose? Does it even serve the purposes and interests of the shareholders?