Author Topic: Should we Abandon Proof of Stake Marketing?  (Read 16272 times)

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Offline bitacer

And for God's sake abandon this desire to be an exchange for crypto world. Become and advertise as an exchange for collaterilized assets. There are much more than crypto currencies out there.

Offline bitacer

And one more thing , financial instruments should be as stable as  a rocky mountain , changing constantly is the worst message you will be sending. And use the terminology used by mass media.

Offline bitacer

All an end user cares is utility and maybe profitability . Simplicity always wins.  These days my bank has a new feature where I can go to any ATM and withdraw money using just my iphone by scanning the QR code on the screen of the ATM, no passwords only few clicks. Simplicity wins.

Offline luckybit

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Proof of Stake seems to mean different things to different people. The early POS systems where flawed. In most of the discussions on POS I see people throwing out strawmen.  Even worse, people won't give anything with a POS label the time of day, they have already written it off.

So when we say DPOS we automatically lose people. We need to get through people's knee jerk reactions.

So I am curious if there is another way to describe DPOS consensus without using POS.

Absolutely not. Stop competing for the same people over and over again. Bitcoin is one group of people, and there is a limited number of people who are interested in cryptocurrency enough to care about the technical specifics like Proof of Stake vs Proof of Work vs DPOS. Basically, the majority of people are never going to care.

And the people who are technically inclined will care, and must know the specs of Bitshares. Not everyone who is into technical details will be America, white, male, with a cypherpunk background. Not everyone will have had the chance to be an early miner (pre-ASIC). So for the most part DPOS can be marketed.

On the other hand once mining actually becomes decentralized again (and it will), and beneficial (folding proteins and searching for aliens), that is when Proof of Stake might be at a slight disadvantage, but again. Market MineBitshares to make Bitshares less susceptible. Don't stop marketing POS.  That kind of flip flopping only shows weakness and insecurity.
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Offline bitacer

Depends on  who your audience is. There is so much time a segment of target market can allocate for understanding the mechanics of it. There are people who discuss mechanics and technology of Mercedes Cars and there are those who care only for its utility wether its a prestige or power and safety. Who do you want to target ?

Offline fav

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what's wrong with calling us "proof of work"?

what do you call your miners?

"workers"

ok then

Bitcoin calls their workers: "miners" so they should change their name to Proof of Mine

What are our workers doing that bitcoin's "miners"(workers) aren't?

Bitshares is more POW than bitcoin if anybody asks me, but since we are on the coinmarketcap 100, nobody asks or cares what consensus model you use anymore because none have been hacked and none are 100% decentralized.

our miners are called witnesses and they act more like PoS.

Offline -banano-

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what's wrong with calling us "proof of work"?

what do you call your miners?

"workers"

ok then

Bitcoin calls their workers: "miners" so they should change their name to Proof of Mine

What are our workers doing that bitcoin's "miners"(workers) aren't?

Bitshares is more POW than bitcoin if anybody asks me, but since we are on the coinmarketcap 100, nobody asks or cares what consensus model you use anymore because none have been hacked and none are 100% decentralized.

Offline brainbug

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You need to have a white paper discussing the byzantine tolerance, the possible attack vectors, the mitigation, the game theory etc etc - then you will at least have something to direct people towards.
Honestly, I agree with this.
I would love to help out here, but I have no idea about all the details that Dan already figured out in his head

100%

Offline xeroc

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You need to have a white paper discussing the byzantine tolerance, the possible attack vectors, the mitigation, the game theory etc etc - then you will at least have something to direct people towards.
Honestly, I agree with this.
I would love to help out here, but I have no idea about all the details that Dan already figured out in his head

Offline donkeypong

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I think that instead of shying away from the algorithm that has proven successful thus far, we should have a blog post that defends it and addresses the FUD that comes from people like Andreas.

I agree with Jakub in that if we rename DPOS, people will see it as a sign of weakness.

There's no reason to abandon it completely. I would just suggest we think of another way to explain our governance to outsiders who may be more interested in the whos and hows of how BitShares is run than in how we address technical blockchain issues.

Offline emailtooaj

Why don't we call it DLIFE.

Decentralized
Liberty
Instituded
For
Everyone

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Offline speedy

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I think that instead of shying away from the algorithm that has proven successful thus far, we should have a blog post that defends it and addresses the FUD that comes from people like Andreas.

I agree with Jakub in that if we rename DPOS, people will see it as a sign of weakness.

Offline abit

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You need to have a white paper discussing the byzantine tolerance, the possible attack vectors, the mitigation, the game theory etc etc - then you will at least have something to direct people towards.
Honestly, I agree with this.

//Update:
I think this post will cause some dumps on BTS, or say decreasing of market cap.
« Last Edit: February 05, 2016, 12:00:28 am by abit »
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Offline donkeypong

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I agree that the term is dated. The DPOS term is for people who understand the basics of how Bitcoin and blockchains work. The wider audience we want to reach now does not come from crypto and so they may not be familiar with the problems that DPOS solves. Who controls it? How are decisions made? Those may be the immediate questions people ask, especially if they understand that it is decentralized. So we need some term to express that there is a committee, voted in and elected by users, and that committee makes decisions affecting the network. You Libertarians are going to hate me, but I think what we really have here is representative democracy on the blockchain. It's a democratic system and that's quite monumental (a far cry from Bitcoin's mess).
« Last Edit: February 04, 2016, 11:35:01 pm by donkeypong »

Offline liondani

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