I am putting up a $10,000 bounty to break DPOS.... Join me.

[Brent.Allsop]

7. One by one, they will come until the call in the bitcoin community is 50% or more and they will hardfork bitcoin to DPOS. That will be great for Bitcoin and bitshares and by extension humanity.

Even IF it was possible to achieve a 50% consensus, what good would that do the people trying to make the decisions?  Even if you had %60 or more, again, how would anyone know?  Let us say you got enough people together to somehow vote their Bitcoins, and were able to achieve a 75% consensus of all Bitcoins for converting away from mining, and prove to everyone you had achieved such.  (Good luck with all that!!)  The rest of them would be lost, for who knows what reasons,  to some alt coin that is still mined, like Litecoin, again, causing a crash of Bitcoin valuations - end of Bitcoin's significance, just like the split in the ripple community devastated ripple.  These types of splitting problems, and so many competing Alt coins, are the criticle problems most holding things back.

My point is that the crypto currency community that first solves these kinds of problems, and is able to amplify the wisdom of all the holders of the currency, and can build and rigorously measure significant amounts of consensus, make lightning fast decisions, like you seem to think they will be able to achieve, and if the people making such decisions can know, quantitatively, how much consensus they do or don't have, in real time, and what is required to achieve near unanimous consensus, without loosing anyone, THAT is the currency that will blow away all other currencies, and finally pull in all the Big institutions, who then know their desires would be heard, and so on.

Oh, and did I mention that modern leaderless governance, consensus building, amplification of the wisdom of the crowd systems like those being developed at Canonizer.com are capable of doing all this, with ease?

In my opinion, good leaderless hon bureaucratic Governance is what will, in the end, determine the winning crypyto currency, and only with that will you get the rest of the world.

[Method-X]

This is ok if we write a proper whitepaper first and make the bounty about breaking the protocol.
We need a separate bug bounty for implementation bugs which is *not* ready for huge public bounty.

What do you consider to be the "protocol"?

The rules that govern the system.

[GaltReport]

This is ok if we write a proper whitepaper first and make the bounty about breaking the protocol.
We need a separate bug bounty for implementation bugs which is *not* ready for huge public bounty.

What do you consider to be the "protocol"?

[Brent.Allsop]

I like this idea, but you need to work out many of the details, first, otherwise it could be a desasters.

Say someone spends an inordinate amount of time and money, they manage to find a minor bug, like determinging who is voting for which deligates?  Which should not be awareded the rewared, but wonder if the y go to court, or worse, over such a disagreement?

Also, who are the devs which must do the matching?

Who / how is the decision going to be made about whether the award should be granted, or not?

Any partial awards?

If all of the above can be answered, definitively, so there is absolutely no possible misinterpretation by anyone, and if all the "devs" can match the entire funds provided by bitmarket, I would be willing to match an addition 10 BTC contributed by "devs".

Oh, and to the guy that volunteered to put up 1 million bitUSD for the prize, that sure is gracious of you, that will surely help this cause, too.  Or were you just volunerring someone elses $ million??

[Method-X]

Fellow marketer and copywriter here; couldn't agree with you more. We did an AMA in /r/BitcoinMarkets yesterday and it was a huge success. There is a LOT of interest in this project. BitShares has a way of capturing the imagination of crypto geeks in the same way Bitcoin did.

1. Marketing to non-bitcoin enthusiasts at this early stage is a waste of time.  The entry and exit ramps to btsx require bitcoin and that is where we must focus.

Yup. The language that gets early adopters hyped up and excited is completely different than the language that'll get the early majority excited.

Crypto geeks drool over:

• Whitepaper
• Delegated Proof of Stake
• Market pegged assets
• The word "experiment"
• Decentralized Autonomous Companies

Right now we're the innovators and before we can talk to the early majority, we need to get the early adopters on board. We need to capture the imagination of the early adopters. Fortunately, BitShares is in a pretty damn good position to do this. We've got the technology and the innovative vision that'll capture the imaginations of old school crypto nerds like nothing else I'm aware of.

3. bitUSD may be very useful in getting the early masses on board but it has little appeal to early adoptors, innovators and bitcoin royalty. We should not focus marketing efforts on bitUSD at this time.

I disagree. BitAssets are exactly what brought me on board.

--------------------

As a long time copywriter, I would bill this as "the greatest experiment since bitcoin" and mostly focus on the market pegged assets. That said, a DPoS bounty is a fantastic publicity stunt. Do you want the hacker to disrupt the BitShares X blockchain to claim the bounty? Or do you want them to find a theoretical vulnerability without testing it. Attacking DPoS would likely cost much more than $10,000 or even $100,000 so I see little motivation.

[Gentso1]

If it works it will be a stroke of genius, if it fails it will be a death blow.If bm,toast and alt say it can't be broken then that is enough to convince me and it may be a worthy enough for everyone to get behind. The bounty is large enough that it will bring a fair amount of attention to bitshares.

[robrigo]

IMO, the OP is afraid of success of DPOS , His whole investment in BTC is in the verge of collapse. That is the reason why he wants to break the DPOS mania. Some FUD ers , but I3 has been working and focus on security issues so $10,000 is worth a try but that is just a SMALL and CHEAP (concept) bounty compare to the rewards that is waiting for each DAC investor.

I think he is generally interested in the security of DPOS myself: http://www.successcouncil.com/post.php?info=Max-Wrights-thoughts-on-the-Security-threats-of-Delegated-Proof-of-Stake-and-Bitshares

So not FUD, but rather a great marketing tactic. And I am agreed with toast that the whitepapers should be released before this bounty goes live.

[CLains]

Harsh truths from 20/20 vision. Cliques is the perfect word.

Perfection won't come without creativity of a thousand evil eyeballs, seek it out

[jwiz168]

IMO, the OP is afraid of success of DPOS , His whole investment in BTC is in the verge of collapse. That is the reason why he wants to break the DPOS mania. Some FUD ers , but I3 has been working and focus on security issues so $10,000 is worth a try but that is just a SMALL and CHEAP (concept) bounty compare to the rewards that is waiting for each DAC investor.

[eagleeye]

This is ok if we write a proper whitepaper first and make the bounty about breaking the protocol.
We need a separate bug bounty for implementation bugs which is *not* ready for huge public bounty.

I agree with toast.  We need to not break the online market but instead have the protocols tested.  Breaking the bitUSD market could do major damage to bitshares (dont know in the long term though)

[toast]

This is ok if we write a proper whitepaper first and make the bounty about breaking the protocol.
We need a separate bug bounty for implementation bugs which is *not* ready for huge public bounty.

[onceuponatime]

nice idea
 

what about 1 million bitUSD bounty?

Doesn't make sense. If DPOS is broken then bitUSD is valueless.

Kinda what I was thinking...nice marketing stunt...but what if it breaks, very publicly?  Maybe something a little less public like using the money for paying security bug bounties?

I disagree . Make it VERY public, but with a limited duration (like one month). At the end of the month, with all the publicity plus the new found confidence in our system, WATCH BTSX FLYING PAST THE MOON - on the way to Mars.

[GaltReport]

nice idea
 

what about 1 million bitUSD bounty?

Doesn't make sense. If DPOS is broken then bitUSD is valueless.

Kinda what I was thinking...nice marketing stunt...but what if it breaks, very publicly?  Maybe something a little less public like using the money for paying security bug bounties?

[onceuponatime]

nice idea
 

what about 1 million bitUSD bounty?

Doesn't make sense. If DPOS is broken then bitUSD is valueless.

[onceuponatime]

I'll put up one BTC.