Re: [Bitcoin-development] Bitcoin Cooperative Proof-of-Stake whitpaper

[Benjamin Cordes <benjamin.l.cordes@gmail.com>]

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I'm doing a hard fork, too. In my version 78% of the wealth will go to me,
which I will redistribute on based on personal preferences. Come and join
me into a new and obviously superior system.

More seriously though: the paper is not bad, but I can guarantee you that
Bitcoin will *never* change that drastically. That's the whole point. It
has an indestructible kernel (think DNA). Rather it will do a slow death,
probably in 5-10 years. If you care for PoS than just launch your own.


On Tue, May 20, 2014 at 6:42 PM, Nick Simpson <nick@mynicknet.com> wrote:

> Referring to the subsidy for miners as "wasting it on miners" isn't going
> to garner you much favor.
>
>
> On May 20, 2014 11:12:53 AM CDT, Stephen Reed <stephenreed@yahoo.com>
> wrote:
>
>> I completed a whitepaper for Bitcoin a proof-of-stake version which uses
>> a single nomadic verifiable mint agent and distributed replication of a
>> single blockchain by compensated full nodes to achieve 6-hop, sub-second
>> transaction acknowledgement times. Plus it pays dividends to holders
>> instead of wasting it on miners. Subsidized transaction fees are thus lower.
>>
>>
>> https://docs.google.com/document/d/1C4m-MFnxw0JjDorzrKs_IRQRqD9ila79o0IDt6KsbcE
>>
>> Because the code is not yet written, this idea is half-baked so to speak.
>> Comments appreciated on my project thread, which will be a development
>> diary. I plan a hard fork of the Bitcoin blockchain in early 2016, after a
>> year of public system testing, and conditioned on wide approval.
>>
>> https://bitcointalk.org/index.php?topic=584719.msg6397403#msg6397403
>>
>> -Steve
>>
>> Stephen L. Reed
>> Austin, Texas, USA
>> 512.791.7860
>>
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>>
>
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