Appendix A - Consensus Realities can be modified or re-written by the Consensus “The Merlin Requirement”
Is this a dangerous idea?
Is consensus reality the same as alternate reality? I'm not familiar with the term. Some good ideas though.
That thought came out of a conversation with an acquaintance who has quite a few bitcoins. He knows I've been working on alternative cryptocurrency theory recently and know people building new coins. He wants a coin that has essentially a voting mechanism that would let people who are the victims of crime and lose their bitcoins illegitimately to have the consensus be able to reverse or cancel transactions.
This is very possible, but the problem is who gets to decide what is a good reason? He wanted a "council of 12" or something, who would approve claims to be voted on by the coin holders but no matter how you do it you create a situation where because the rules can be broken for a good enough reason, the people who judge the reasons become the holders of a lot of power.
Thats the issue, otherwise I think its a great idea.
If they are random and those who judge have reputations and also get judged it might work. It would be a peer to peer moderation system. I think it's something which can be built in theory but getting it right in practice is very hard and it would require layers of anonymous voting.
One idea I stumbled upon was by a guy named Ola who is building a peer to peer based arbitration system( Coinsigner.com ). I think that idea is promising and would be a way to give incentives to the good actors in the system. There should not be a set number of how many people are on a counsel, it should not be a fixed number because that helps anyone trying to determine how to corrupt the system. Instead it should be a range and that range, also the aspect of randomness and anonymity secures things so that no one can know in advance who is on the jury.
I am ola, developer at 'consigner' previously mentioned in this thread which is temporally postponed due to work on a more important project at hand..this is another topic for discussion notwithstanding,
I had to respond to this thread because someone pointed me to it and I am an avid listener and follower of "lets talk bitcoin" show..Heck I am one of your donors…I am happy to see you finally take a step in the right direction as I was previously skeptical an a little disheartened on your position or just frustrated by your passive view towards regulation…welcoming it by passive inaction or playing devil's advocate for the case of regulation…I forget the particular episode I couldn't understand why someone so intelligent and eloquent couldn't see the truth as you argued with andreas for the case of regulation, which is just a luxury for the ~350 million western privileged compared to the other 6.5 billion. As andreas would say " no use screaming at the meteor and its trails if you are a dinosaur, you will be extinct"…I never really understood why human invent tools to further the global race and in one fell swoop revert or look for illusionary safety in the old way of doing things which they were fighting to get out of in the first place. But This particular post of your gives me hope and I am confident that you now understand that the very fabric and all main functionalities of centralized financial centers are either going to be extinct, outdated or second class…'Wall street' , 'The city' and the rest of them…
Reason for postMy main purpose of posting is to let you now that there is already a potentially better more nimble alternative to the ubiquitous mainstream crypto which is bitcoin. and all the concept which you describe is built right in to this crypto at the very beginning…All this will be made evident on the 26th of Jan with the launch of the main client sporting : decentralized asset exchange (colored coins) (crypto to crypto without fees and crypto to fiat utilizing gateways), decentralized DNS, arbitrary messaging, instant transactions and transparent mining and a little while after that it will enable decentralized a decentralized market, distributed storage, two phase payments, voting, reputation and much much more after certain number of blocks.
and need I mention, it will be first to market accessible through an easy to use client!! see here:
https://bitcointalk.org/index.php?topic=412138.0the alternative protocol is called "NXT" and its already mentioned a few times by andreas antonopolous although I am not sure if he has delved deeply into the innovation to understand how things work.
What all this means is that this protocol will have a very useful economy baked right into the client, something bitcoin has to gradually attain by being gradually getting accepted by retailers..if you are thinking of immediate possible use cases, think about the shutting down of 'the global bitcoin stock exchange', bitfunder and a myriad of other avenues who patronizers are waiting in the shadows for a better alternative..This use case is only one example for starters…
Nxt already has a function equivalent of what you call a DACP which is the 'NXT' platform and DAC are being drawn up and created at this very moment..I know because I am involved in one and there are several others involved in the creation of others..this is in relation to the "more important project" which i mentioned earlier. These DACS will be voted upon come feb 3
Also what you call "voice holders" is your share of the 'nxt' currency and you can use this to effectively and democratically cast your vote ( your influence is proportional to your share )
the main difference is that bitcoin is a protocol with its first app as currency..Bitcoin had to mature and systematically coerce retailers and real world merchants to accept it thereby increasing its economic activity, driving price increase and adoption…Also plans for DAC support in bitcoin have been delayed until much more recently..NXT on the other hand comes baked with everything you could hope for in a truly decentralized protocol with layers of apps as currency, DACS,….. and an economy which will drive the adoption of the currency from the very beginning, whats more you have instant transaction confirmations.
of course Nxt is not perfect, especially with the currency distribution, but it is certainly a very innovative invention that I believe will rival bitcoin in the next coming months ..I believe it is worth your time to do a little research, then come away with what you think, objectively…I have not found an outside objective source reviewing the protocol without any bias..But there are some supporters who have written excellent articles, one example is below, I have also attached the main thread:
Quick article by and educated supporter of nxt:
http://info.nxtcrypto.org/why-nxt-ought-to-be-taken-seriously/NXT thread:
https://bitcointalk.org/index.php?topic=345619.0
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