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Interesting, bytemaster.
But I think the problem with your original idea is about the people donating to the network.
This is different, as we are a truly substitute for Youtube. Free for users, but paid by advertisers.
Looks like PTS is the only altcoin down !! See: http://coinmarketcap.com/
Others are flying like rockets but PTS is down ?
Not good ! but maybe opportunity ?
I agree that there's a big opportunity for this, but the distributed storage required for this would be much greater than what's normally used for a cryptocurrency block chain. In addition to keeping track of the currency on a blockchain, you would have to store what could easily be terabytes of video. You could either accomplish this by increasing the amount of data that each node is expected to store, or by increasing the number of nodes on the network.
I agree that it would require terabytes of data to store everything, but if you read carefully, I clearly say that it will going to be P2P. Much like bittorrent but optimized for real-time playback. So actually only the users store the content. Servers are the interface only.
When a user press "add to favorite", then he becomes a seed. And while the user is watching a video, he acts also as a seed for the content he is actually viewing.
So there is no need for storing any video in any server, with one exception: when someone pays a fee, the media is cached in the servers, and the servers are the shareholders of the DAC, so they obtain revenue in exchange for the space and bandwidth.
I think a core question is, do we want mining to be human scalable or capital scalable.Perhaps moving icons could be used as a human interrupt. It could be decentralized and use a random seed which could move a fixed set of icons into a random order which the human being would simply have to put into the correct order or previous order. Not saying a botnet couldn't eventually beat that too but it would take time and effort for botnet operators to beat and it wont be a situation where the botnets mine all the shares up at launch.
Current coins including protoshares are capital scalable, you can mine as much as you can spend money. By requiring individual registration, or human-required interrupts like a rotating captcha you make it non-economical to run 3,000 servers if each server has an average 5 interrupts randomly per day. Doesn't matter if it's a cloud miner, doesn't matter if it's botnet, the human element does not scale like the hardware does.
To a certain extent this makes the guy with 40 computers in his garage the hardest working and best paid, requiring constant attention (5 interrupts x 40 divided by 24 hours in the day means an interrupt every 8.3 minutes).
I actually don't hate the idea of random interrupts, it incentivizes people run it on the computer they are actively working on because otherwise they'll be periodically checking at best or waiting for an email alert. One imagines a new suite of tools will emerge to try and automate this, and that becomes the arms race improving captchas.
There is no point in debating the human-interrupt designs because they are all based upon secrets (the digital value represented by the turing test) and a DAC cannot keep secrets. This system can only work with a central authority keeping the secrets and signing validation receipts which are then included in block headers.
Conclusion, human in the loop systems are fundamentally centralized and would also be farmed out to Amazon's Mechanical Turk.
I would propose that this is a preferable outcome, and much less scalable than EC2 or botnets. Worst case scenario existing mechanical-turk esque markets are bid up and people working there make a little more along with the market provider.
Unless you make periodic human attention the limiting factor, you make scaling your mining operation about how much money you can bring to bear.
It will always be about how much money you can bring to bear. Even with people in the loop. Out sourcing to Amazon's Mechanical Turk is one way, but another way is hiring people on craigslist.
So long as you are going to be centralized, there is no need for mining. I could just collect email addresses and payout faucets and then sign a block every 5 minutes. It would be far less annoying.
Captcha's would make it so a human would have to be involved in the process of mining. Botnets cannot easily solve these captchas yet and when they can an update can change them. The original Bitcoin protocol has an alert functionality built in to tell the user to update and this could be extended to include alert captcha. That is just one solution. Another is to shuffle the algorithm in such a way that a botnet cannot optimize for it.Don't be so concerned about botnets and ec2, botnets were and will always be out there, just accept it, if you got the criminal energy to control a 100k+ botnet you can mine whatever you like no matter what you do - this is starting to become a DRM vs warez analogy which always ended bad for the important part, the user / customer. And ec2 is always only a viable option at the beginning, it is not cost effective pretty soon unless you front a serious amount of cash which in turn could have bought rigs aswell - same same but different
Unless you come up with an idea how to prevent a botcontrolled pc from mining but a normal one not without crippling everything and making the whole process a pain in the ass, thats the way it is and you are just whining because you think something is unfair - welcome to the real world.
Just something that came into my mind while preparing pizza:
A ruleset and all the cards which will exist in the end have to be planned.
Every coin can by request be associated with a random card. That association is permanent, so when one of those coins is traded, the card is traded.
Further thoughts:
* Companies can build game interfaces and exchanges
* Blockchain can be forked at any time for addons, new versions, or complete new cardsets/rules
* What to do with never-redeemed coins or "lost" cards?
Going to eat now, would be glad to hear someone else's thoughts!
I was reading in the religion DAC thread about bittunes. I'm just curious as to weather invictus or anyone else has approached this organisation about the idea of forking from Protoshares? If not I guess that leaves the idea available for implementation?
Also, could this and the APDAC possibly be formed from a more "primitive" DAC simply called "Media" which works on the ideas already expressed but just lays the ground work for the distribution and payment to investors/writers/artists?
Then you could form from the Media DAC a DAC for music, A DAC for news, A DAC for books etc. etc.
Sorry if none of that made sense, my brain has about a million thoughts right now haha!
You could fork ProtoMediaShares from ProtoShares which would allow people to speculate on the value of a future media DAC. That said, simply launching a DAC is a lot of effort and there should be a team committed to developing a particular outcome.
I like the Idea of 6 month block maturing. Though I think 3 month would be also sufficient...
Only problem I see, this would not keep botnets from mining, but I think I may have a solution for that, though not sure if it will work.
Could we prevent botnets from running if we would implement a captcha in the client? So that every time you start mining you have to solve a captcha...I guess that would stop botnets
What do you think about that?
Ey! This gave me a better idea!
Why don't you use signed mining?
I mean: to be a miner, you must be aproved by Invictus and recive a key to be able to mine, and any client which tries to mine without being signed cannot find a block. You can also impose limits on the amount one miner can mine.
Then, after the 6 months period, you just release a new version which removes the signing requirement.
You can even sell a license to mine, but please make it cheap.
I don't exactly know how this could be implemented, but I'm sure you can think ways.
I feel like requiring a centrally issued signature to mine goes against the purpose of a decentralized currency. You should keep it open to the public, and keep entry barriers low for people that want to solo-mine. The difficult part is to make entry barriers high for people who want to cloud-mine
It is only temporal for 6 months, just to enable precisely more decentralization, so more "normal" people can obtain his/her share without being busted by other users that steal CPU power from others (botnets).
There could be an unconditional free license to allow mining some blocks, some paid licenses to mine big amount of blocks, and after the 6 months no license is required anymore.
Interesting. Since the DAC genesis block would be poured from the ProtoShares block chain it seems a PTS holder would be getting a piece of the action right from day one even if they didn't do the import until later. Cool.
Second question...which is more about the nature of ProtoShares: If I import my PTS privkey into the PowerBall DAC wallet have I "spent" by PTS or just gained access to a clone of them in the form of Powerball DAC shares leaving me free to also import my PTS privkey into the next DAC and the next one and the next one and....?
Yes, and you don't have to "spend" your PTS, you get a clone of whatever shares you hold as shares in the new DAC as well. Both. And again and again and...
Owning ProtoShares is owning rights to all future DACs that honor the ProtoShares Social Contract. All Invictus sponsored DACs will do so. We hope others will adopt our community that way too.
You don't have employees, you have investors. Companies can force limitations on employers because there's a discrepancy in power between them. It's obviously not the case here.A miner is both an employee and an investor. These are not the rules of wall street.
This would be in the block chain, not the miners. Coin generation outputs would not be spendable as a valid transaction and no code modifications could change the rules without a hard fork.
I want to eliminate the MINE AND DUMP strategy, mining should only benefit those who are committed. Think of paying an employee in stock options that must VEST. You do not want to hire employees that leave, you want committed long-term employees who expect the options to go up in value. This builds a very loyal base which will benefit by seeing the price rise over 6 months, rather than a disloyal base that just gets a free-handout while providing little value.
Sure, many people who currently mine will stop mining and make room for new miners who have a long-term outlook. Transfer coins from profiteers to supporters and THAT is the goal.
I want to eliminate the MINE AND DUMP strategy, mining should only benefit those who are committed.
This would be good if it were possible - I think you'll just see a futures market.
A better approach is to concentrate on making it super easy for many people to mine small amounts - amounts small enough that they're not rushing for the exits. I think you want mass adoption across millions of desktop pc to make the business of mining impossible. Concentrate on easy-to-use pool mining clients.
