Why would we think an upgraded version of momentum wouldn't be minable by cloud or botnets? Has any actual innovation been made, I must have missed it
Lets see what Invictus has proposed:
Decentralized Mining - The Future of BitShares Mininghttps://bitsharestalk.org/index.php?topic=905.msg9065#msg9065Attempted to decentralize pools with lottery mining that makes mining for profit a non-starter and attempts to encourage solo mining.
Momentum 2.0 https://bitsharestalk.org/index.php?topic=962.msg9752#msg9752Attempts to fix Momentum 1.0 which had problems with GPU miners gaining a 3x advantage. MemoryCoin borrowed some of these ideas.
Decentralized Autonomous Countries https://bitsharestalk.org/index.php?topic=1396.msg14762#msg14762Points out all of the flaws of mining and the implicit centralization. Even PTS is centralized in 3 pools right now, 1 of which may even have over 51%. Anyone committed to decentralization would have to drop mining based upon this alone. Anyone clamoring for mining must be selfish and not looking at the big picture that a little profit today will end up controlled at the end of the day. Those that don't want the rich to buy it up seem to ignore that mining does not prevent the rich, but helps them cement control.
Transactions as Proof-of-Stake & the End of Mining https://bitsharestalk.org/index.php?topic=1138.msg11955#msg11955Introduces a new system of proof-of-stake that bytemaster claims is more secure than mining.
From where I sit this looks like a ton of innovative ideas and real attempts to encourage decentralization and favor the little guy; a true commitment to decentralization above all else.
This guy is like Ron Paul, good ideas, uncompromising, but terrible at delivery. If you want him to be able to hire people to make up for his flaws then he will need money.
I think Lighthouse may have something workable.
10% for PTS
10% for Angels
80% Undefined???
What happens to the 80% when they launch BitShares?