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Messages - Lighthouse

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136
I think you're fighting the tide on this one Bytemaster, the type of people you want to incentivize and compensate for paying attention are the ones who see the potential and want to be invested in the idea as they help bring it to fruition through their personal actions.  The problem that pools solve is the difficulty of knowing if your work (computer mining) is going to give you a payout because as the popularity of a coin increases (in this case very quickly) the choice to mine by yourself starts looking like a stupid thing to do. 

Yes, there are calculators that say you'll find a block every 8 days but that's a lot of faith to put into a fast moving currency and sometimes the odds don't go in your favor and the difficulty moves past you.  The point of Mining is to equitably distribute tokens that individuals imbue with value through their interest and want to further build the project. 

So the solution is to figure out how to let people join a global pool, operated by the issuing company who can collect a very minimal %, and pay people equitably for their contribution.  Then it truly is a fire and forget sort of operation, and as the operator you can determine if you want to allow cloud miners or if they should be off in their own pool using miners they create themselves.

Solve the pool problem by catering to the need that demands Pools be popular.

137
How does one require the miner to hold for 6 months?
The found block takes that long too mature?

So miners that do wish to sell -- won't just sell that wallet?

Thats a very manual process.

I think it might be more likely a pool would sell all their production to one buyer, the buyer would pay the pool with Bitcoin and their Bitshares wallet would be the pools payout until the agreed upon amount or contract duration passes, at which point the next allocation of time is sold to the highest bidder.

The point isn't to create a perfect system, but to shift the incentives so that it doesnt make sense to mine unless you believe strongly it will have a lot of value in half a years time. 

138
BitShares PTS / Re: ProtoShares on http://coinmarketcap.com/
« on: November 21, 2013, 03:27:54 pm »
WTF .. 5th most valuable coin .. never saw that one coming!

Keep in mind the price was over $10/ea a few days ago, so it's been as high as 4th place already.

139
General Discussion / Re: Where are we going?
« on: November 21, 2013, 12:59:07 am »
Experiments are how we discover the right course forward.  The experiment you want to try is basically a control compared to other experiments.  You ask "Is it the vehicle (the cryptocurrency) or the social contract honored by a company that gives value to the thing?"

I think you will find that there are many speculative vehicles and your project offers nothing to differentiate besides fitting your personal criteria for fairness, but lacking the thing that made fair distribution something that even mattered, a purpose to hold (the social contract).

What about your coin is better than Litecoin?

140

I honestly couldn't care about a well-behaved process that uses 25% of my CPU when IDLE with a low priority setting and 99% of users wouldn't even know how to monitor their CPU usage and wouldn't look at it unless something else was slowing their computer down.  Having an option to 'turn it off' would allow those who it really bothers to turn it off.

This may be true for you but it is not neccesarily true for everyone.  Just make it a toggle easy to find in the keyhotee client and you'll solve your problem.  There were very similar experiments where websites would utilize the CPU of their visitors computers at about 20% to mine instead of showing ads.  People did NOT like it.    And I agree with the others who think a more desirable reward especially for people with a long term perspective would be a really easy to use, distributed pool miner combined with the long vesting period.

141
I think you've nailed it here Bytemaster - Most of the cloud miners I deal with have been selling PTS to fund ongoing mining operations, if you force them to not churn onto the market with a 6 month maturity period you chase out anyone who isn't willing to have a long time horizon.  I wouldn't buy cloud computing, but I would have my desktop mining in the background.

I wish there was a way for mining to not be a lottery but rather a process that everyone who participates is rewarded for per their contribution.  We do that now, but it's like a game of bingo when it should be more like renting your computer by the hour to the needs of the protocol.   Solo mining and distribution that makes people happy are flatly at odds with mass adoption, so while the incentives line up all over this beast here they very much do not - For each new person who I convince to mine makes it that much harder for me to find a block, and past a certain point, say a million solo miners, it seems like an impossibility for everyone to find a block so you limit your potential success.

142
General Discussion / Re: BTC vs PTS What ratio will be ?
« on: November 19, 2013, 11:18:42 pm »
I expect better than 1:1 in protoshares favor.  Bitcoin is just a money network, holding protoshares pays you in being the first to hold new ideas in cryptocurrency.

143
Please post if you're working on this Bounty

144
Marketplace / Re: WTS 180 PTS@0.012BTC
« on: November 18, 2013, 11:20:04 pm »
I would buy all for .0115

145
General Discussion / Re: Why I am no longer supporting Invictus-Innovations
« on: November 18, 2013, 08:54:07 pm »
Oh he's implying people cloud mining now will take a loss because the price went down from the recent highs?   Yeah, the cost of cloud mining is less than $4 per PTS, the price is high because most people would rather hold for the first payout than sell for these low valuations.   Just because a thing is undervalued doesn't mean the price goes straight up to the correct level, look at how long it's taking people to figure out how valuable Bitcoin is - Protoshares is where Bitcoin was three years ago, covered those first two years in about two weeks!

146
General Discussion / Re: Why I am no longer supporting Invictus-Innovations
« on: November 18, 2013, 08:50:01 pm »
I hear you guys with 3000+ vps accounts were pulling in 250pts/hour. Let me tell you what happened here. Greed overcame logic and you lost out on your gamble. Everyone knows that alt coins, even bit coins are not a sure thing. Good luck recovering you losses. I'm sure glad I didn't have coinlust at the time and did something stupid like I did a few months ago..  :o

Live and learn...

What are you talking about?

147
First or best implementation wins? Deadline?

First to survive or fix 7 days worth of bug fixing and work as the BTC version

148
Bounty updated with Bytemaster's contribution

149
BitShares PTS / Sovryn Tech Ep. 0048: “Keep One-eye On the ProtoShares”
« on: November 17, 2013, 10:10:16 pm »
Listening to it now

https://soundcloud.com/sovryntech/sovryn-tech-ep-0048-keep-one

You can tip them protoshares here, I sent 2 - Donating to podcasts like this makes them more likely to talk about it, and I want everybody to know about Protoshares.
PROTOSHARES: PtTy4odKrFq6afXyU3459kNetonztAu6Lk

150
Meta / Re: Do we need activity system in our forum?
« on: November 17, 2013, 08:03:58 pm »
I don't like systems that restrict new users to posting in special areas or has time restrictions.  There isn't a good solution here except to release Keyhote ID, so focus on that :)

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