Quote from: Technologov on August 16, 2014, 03:46:40 pm

The main objection and concern I have for Proof-Of-Stake, is that it disallows mining.
It is impossible to mine NXT coin, for example,  if you don't own any.
This blocks the community from growth.

do you mine bitcoin?

Brilliant response!

People are talking about doing some other kind of work, to get new currency into production.  Solving folding problems, finding ETs are good possibilities, but I bet there is far more important work than this that could be done.  Again, you could use a Canonizer.com like amplification of the wisdom of the crowd system to determine what type of work could be done to earn new currencies, and more importantly, it could be used to determine how much new currency could be put into production to accomplish such things, in a real time constantly changing way.

BM, Can you weigh in on the liklihood of this migration happening?

Also, let's say Bitcoin is migrated to DPOS tomorrow: this would be good or bad for AGS/PTS holders??

Good luck getting the miners that have spent many $ millions on mining infrastructure, to approve something like that.

There is no way you could get that through the Bitcoin bureaucracy that has formed.

Which brings up a, to me, critically important issue: Governance.

Either, and all the other Alt coins are going the Bureaucratic way of Bitcoin, creating bureaucratic organizations that can't do diddly squat on something critically important like this.  Even given the clear expert consensus on how important such changes are, they can't do anything.

Right now, BM has absolute control, which is a good thing for us, but I think we need to do way better than this, if we want to get the a good number of big financial institutions around the world to get on board.  There is no way any of them are going to have any kind of motivation to give BM that much power.

In my opinion, we need the kind of bottom up, anti bureaucratic, leaderless, amplification of the wisdom of the crowd governance system we are developing at Canonizer.com.  The best politicians are the ones that know, best, exactly what all their constituents want.  Imagine what the Bytemaster, and all of us could do, if we could know, concisely and quantitatively, and in real time, what all holders of BitsharesX wanted, both the popular consensus, and how this compares to the expert consensus?  Bytemaster can already discover his mistakes, much faster than anyone else.  But emagine if he had a system where he could vet his ideas against a huge expert consensus, in real time!

To me, the currency that best solves this governance problem, in a bottom up, anti bureaucratic way will be the one that quickly takes over the world in a few months.

Brent Allsop

    That sounds great! Thanks for letting us know!

I guess Vitalik must be happy for us to share that info? - That Vitalik/Ethereum is strongly considering DPOS?

, , , ,

Fantastic Dan!!  The way you do things like this, co-operate without fear or reservation, is why I am betting so heavily on you!  Vitalic may be as smart (but I doubt it), but he doesn't have the age and broader perspective as Dan.

Thank you thank you thank you.

Brent Allsop

awesome.     Is there any other exchange to buy bitsharesx besides bter?     

Why is btsx better than nxt or counterparty     

still learning.  haha

One good source if comparison information is here:

https://o.info/index.php/How_to_issue_a_cryptosecurity

I'm interesting in the answer to the same question.
Dividends have two parts.  Who receives them, and who pays for them.
Of course, like as done with mining, you just print more of them to pay a dividend to the miners.
The money that pays for this is like a tax on all holders of the currency/stock.
If you can find someone willing to give up shares, it's just a matter of the transaction.

I see there is a brent-allsop registered ID in the Genesis bloc.  I'm assuming this came from the Keyhotee founder ID Brent.Allsop.

This is listed as a delegate.

So, my question is, how do I take ownership of this guy so I can start processing blocks with my wallet?

Also, I wold prefer that my delegate be the registered with the name canonizer-delegate.  Is it possible to move the founder ID privileges that came with this to canonizer-delegate?

Brent

Here are some things I'd like answers for, if we have time today.

a.   I understand public/private key ownership of Bitcoin, but don't understand how the Bitshares "contact name" relates to a public key

b.   What is the difference between a registered and non registered "contact name"?

c.   In the recent transaction section in the client, it almost looks like my genesis block shares have been moved "from" GENESIS "to" brentallsop?  Does this mean they are now under a different private/public key?

i.   A related question is: If someone had the private key for the public GENSIS block key, could they get my shares, or do I need to move them to a new public/private key to guarantee they are secure?

d.   How does the delegate voting process work.  When I change my vote in my client, does this change happen real time, or does the vote only change once I do a transaction.  or does the vote change just for the shares that are being transacted....?

e.   Is there some way to check on how each of my shares are currently voted, or do the votes of all my shares change in real time, when I change my vote?

f.   Are there now plenty enough voted in delegates to secure the network.  What is the status of any voting change plans?  Ultimately, who will make such controversial decisions?

g.   What are daily income, expenses and burn sections in the client UI?

Brent Allsop