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

[Nick Simpson <nick@mynicknet.com>]

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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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