The Benefits of Proof of Work [BLOG POST]

[abit]

As my observation, the crowd in China never trust bm now ,   
I basically oppose this ,
It is thing make me feel distressed,

The post made it very clear up front that these thoughts have nothing to do with BitShares.

They are just concepts put out there for discussion and as a new way to talk with POW fans about what's really important in blockchain security algorithms.  An attempt to advance the thinking in the industry.

So how can this cause opposition, distrust and distress?

So it explains that some people don't trust that disclaimer, or the writer.

[Musewhale]

, great, good idea, i like it, just do it!

[Stan]

As my observation, the crowd in China never trust bm now ,   
I basically oppose this ,
It is thing make me feel distressed,

The post made it very clear up front that these thoughts have nothing to do with BitShares.

They are just concepts put out there for discussion and as a new way to talk with POW fans about what's really important in blockchain security algorithms.  An attempt to advance the thinking in the industry.

So how can this cause opposition, distrust and distress?

[cass]

more decentralization ..

[wallace]

fiesty... plus CNX can push through anything they want.  Market realizes it and that's why your seeing people sell.  Centralization.
Who exactly our my friends?

No, they can't push through anything they want, and market often realizes $h!t!
I would like to know what market "realized" when btc price fell to $3, I supose those that didn't listen to "market" back then and bought btc with a 30% premium from virwox or ebay were complete idiots. If they want to sell, let them sell.


There is a 90% you can try to get votes from, but often I see people focusing on the less than 10% that "BM and friends" has. Where is your call to arms? If you didn't manage to get any votes/support.....maybe you are in the minority.

Ok so bitcoin is a success story where people were wrong about the direction, that happens very rarely.  Companies that lose 90% of their value almost never come back. Also, what about all the other alts that have been crushed and stayed crushed??? paycoin anyone?

People are assuming that I think the projects that CNX are doing are bad and will hurt BTS.  I never said that.  I think CNX having the ability to control all projects and features added to BTS is the roadblock.

The problem is, and it's been stated before by many people, is that CNX has the ability at any time to vote in a proposal via their voting power and their minion's proxies.  Don't kid yourself and think that somehow thousands of strangers from across the planet will somehow come together and vote in unison.  CNX also controls the majority of the committee via direct supporters or inits.  BTS has been crushed by the merger, the never there 1.0, and the botched released of bitshare 1.666 (2.0 - some original features).  These events were all centrally controlled and coordinated by CNX.  If everything they have ever done has caused BTS to lose value, why would you think their next "feature" would come to any other result?  It's this fear that is keeping other devs and business's from building on BTS.  It's the ever shifting rules.  I have lobbied for CNX to step away from the table and let stability creep in, but that will never happen since CNX is the main benificiary of the BTS charity.

Bottom line:  Until CNX is not the Dominant player in Intellectual BTS capital AND actual BTS... Bitshares will be viewed as a centralized coin.  They can be one of the above, but not both.

agree, that's why I insist to push the decentralization process of Bitshares.
now seems there's only one way to go - invite exchanges to vote.

https://bitsharestalk.org/index.php/topic,20856.msg269530.html#msg269530

here u go .. !

what relationship between these 2 threads?

[cass]

fiesty... plus CNX can push through anything they want.  Market realizes it and that's why your seeing people sell.  Centralization.
Who exactly our my friends?

No, they can't push through anything they want, and market often realizes $h!t!
I would like to know what market "realized" when btc price fell to $3, I supose those that didn't listen to "market" back then and bought btc with a 30% premium from virwox or ebay were complete idiots. If they want to sell, let them sell.


There is a 90% you can try to get votes from, but often I see people focusing on the less than 10% that "BM and friends" has. Where is your call to arms? If you didn't manage to get any votes/support.....maybe you are in the minority.

Ok so bitcoin is a success story where people were wrong about the direction, that happens very rarely.  Companies that lose 90% of their value almost never come back. Also, what about all the other alts that have been crushed and stayed crushed??? paycoin anyone?

People are assuming that I think the projects that CNX are doing are bad and will hurt BTS.  I never said that.  I think CNX having the ability to control all projects and features added to BTS is the roadblock.

The problem is, and it's been stated before by many people, is that CNX has the ability at any time to vote in a proposal via their voting power and their minion's proxies.  Don't kid yourself and think that somehow thousands of strangers from across the planet will somehow come together and vote in unison.  CNX also controls the majority of the committee via direct supporters or inits.  BTS has been crushed by the merger, the never there 1.0, and the botched released of bitshare 1.666 (2.0 - some original features).  These events were all centrally controlled and coordinated by CNX.  If everything they have ever done has caused BTS to lose value, why would you think their next "feature" would come to any other result?  It's this fear that is keeping other devs and business's from building on BTS.  It's the ever shifting rules.  I have lobbied for CNX to step away from the table and let stability creep in, but that will never happen since CNX is the main benificiary of the BTS charity.

Bottom line:  Until CNX is not the Dominant player in Intellectual BTS capital AND actual BTS... Bitshares will be viewed as a centralized coin.  They can be one of the above, but not both.

agree, that's why I insist to push the decentralization process of Bitshares.
now seems there's only one way to go - invite exchanges to vote.

https://bitsharestalk.org/index.php/topic,20856.msg269530.html#msg269530

here u go .. !

[bitcrab]

fiesty... plus CNX can push through anything they want.  Market realizes it and that's why your seeing people sell.  Centralization.
Who exactly our my friends?

No, they can't push through anything they want, and market often realizes $h!t!
I would like to know what market "realized" when btc price fell to $3, I supose those that didn't listen to "market" back then and bought btc with a 30% premium from virwox or ebay were complete idiots. If they want to sell, let them sell.


There is a 90% you can try to get votes from, but often I see people focusing on the less than 10% that "BM and friends" has. Where is your call to arms? If you didn't manage to get any votes/support.....maybe you are in the minority.

Ok so bitcoin is a success story where people were wrong about the direction, that happens very rarely.  Companies that lose 90% of their value almost never come back. Also, what about all the other alts that have been crushed and stayed crushed??? paycoin anyone?

People are assuming that I think the projects that CNX are doing are bad and will hurt BTS.  I never said that.  I think CNX having the ability to control all projects and features added to BTS is the roadblock.

The problem is, and it's been stated before by many people, is that CNX has the ability at any time to vote in a proposal via their voting power and their minion's proxies.  Don't kid yourself and think that somehow thousands of strangers from across the planet will somehow come together and vote in unison.  CNX also controls the majority of the committee via direct supporters or inits.  BTS has been crushed by the merger, the never there 1.0, and the botched released of bitshare 1.666 (2.0 - some original features).  These events were all centrally controlled and coordinated by CNX.  If everything they have ever done has caused BTS to lose value, why would you think their next "feature" would come to any other result?  It's this fear that is keeping other devs and business's from building on BTS.  It's the ever shifting rules.  I have lobbied for CNX to step away from the table and let stability creep in, but that will never happen since CNX is the main benificiary of the BTS charity.

Bottom line:  Until CNX is not the Dominant player in Intellectual BTS capital AND actual BTS... Bitshares will be viewed as a centralized coin.  They can be one of the above, but not both.

agree, that's why I insist to push the decentralization process of Bitshares.
now seems there's only one way to go - invite exchanges to vote.

[BTSdac]

As my observation, the crowd in China never trust bm now ,   
I basically oppose this ,
It is thing make me feel distressed,

[Riverhead]

That said, I do like the idea of fixed-deposit interest payments in the blockchain. Are there any altcoins that implement this yet?

If not, I think a simple altcoin with interest payments would be easy for people to understand and exciting to both investors and speculators.

Little bit of discussion on this -

https://bitcointalk.org/index.php?topic=1317065.0

https://en.wikipedia.org/wiki/Guaranteed_Investment_Certificate

[FreeTrade]

That said, I do like the idea of fixed-deposit interest payments in the blockchain. Are there any altcoins that implement this yet?

If not, I think a simple altcoin with interest payments would be easy for people to understand and exciting to both investors and speculators.

Little bit of discussion on this -

https://bitcointalk.org/index.php?topic=1317065.0

[Stan]

it is bad to hear that bm start to post blog   ,:)

Those who complain that we are good at technology but bad at marketing should make up their minds.  One BM blog article draws more attention to BitShares that almost anything else I can think of.

Oh Stan. My Stan. You are smart, you are amazing, you are incredible.

Finally!  A post I totally agree with! 

[muse-umum]

it is bad to hear that bm start to post blog   ,:)

Those who complain that we are good at technology but bad at marketing should make up their minds.  One BM blog article draws more attention to BitShares that almost anything else I can think of.

Oh Stan. My Stan. You are smart, you are amazing, you are incredible.

[Samupaha]

Good to see Dan blogging. The most effective thing he could do is learn to write well and explain BitShares to the general Bitcoin user/investor. I think there is a temptation for a developer to think that if he adds just one more killer feature, it'll be the one where everyone finally recognizes how good the product is and investors will pile in. I think the opposite. BitShares is too much of a moving target for investors. Stop innovating, tidy up the loose ends, call it finished, and explain what the heck it is.

Well said. Dan's blogging was the thing that got me interested in Bitshares. It's quite effective way of marketing, at least to bring some intelligent people onboard.

We also need to finish the platform so it can start to live fully without dependency on Cryptonomex. For example, the GUI for committee is still missing, which is a big reason for so few committee members. If we look at the whole system, we can see where the problems are:
- Witnesses are working well, no problems so far there.
- Committee needs more members, preferably economists and/or blockchain specialists. The point is to get intelligent people to make wise decisions on blockchain parameters, not just reduce the power of Bytemaster for the sake of decentralization.
- More qualified workers. How to attract them?
- FBA is still just an idea. We need to formalize and document the process so that anybody can learn how to produce a new feature with FBA. Cryptonomex has a "monopoly" on FBAs because nobody else knows how to use them.

[lil_jay890]

fiesty... plus CNX can push through anything they want.  Market realizes it and that's why your seeing people sell.  Centralization.
Who exactly our my friends?

No, they can't push through anything they want, and market often realizes $h!t!
I would like to know what market "realized" when btc price fell to $3, I supose those that didn't listen to "market" back then and bought btc with a 30% premium from virwox or ebay were complete idiots. If they want to sell, let them sell.


There is a 90% you can try to get votes from, but often I see people focusing on the less than 10% that "BM and friends" has. Where is your call to arms? If you didn't manage to get any votes/support.....maybe you are in the minority.

Ok so bitcoin is a success story where people were wrong about the direction, that happens very rarely.  Companies that lose 90% of their value almost never come back. Also, what about all the other alts that have been crushed and stayed crushed??? paycoin anyone?

People are assuming that I think the projects that CNX are doing are bad and will hurt BTS.  I never said that.  I think CNX having the ability to control all projects and features added to BTS is the roadblock.

The problem is, and it's been stated before by many people, is that CNX has the ability at any time to vote in a proposal via their voting power and their minion's proxies.  Don't kid yourself and think that somehow thousands of strangers from across the planet will somehow come together and vote in unison.  CNX also controls the majority of the committee via direct supporters or inits.  BTS has been crushed by the merger, the never there 1.0, and the botched released of bitshare 1.666 (2.0 - some original features).  These events were all centrally controlled and coordinated by CNX.  If everything they have ever done has caused BTS to lose value, why would you think their next "feature" would come to any other result?  It's this fear that is keeping other devs and business's from building on BTS.  It's the ever shifting rules.  I have lobbied for CNX to step away from the table and let stability creep in, but that will never happen since CNX is the main benificiary of the BTS charity.

Bottom line:  Until CNX is not the Dominant player in Intellectual BTS capital AND actual BTS... Bitshares will be viewed as a centralized coin.  They can be one of the above, but not both.

[xeroc]

If you really want to loosen the ties to Dan and CNX .. why don't you start a campaign to
a) remove votes from bm/angel
b) have people claim their stake from genesis and vote!

Complaining does help. You need to ACT!