FTC's future
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If DPoS is the answer (which I believe it is) then the algorithm used for mining isn’t important. Mining would be carried out at low difficulty.
The community of coin holders would get to influence who earns the rewards. It could provide an almost decentralised crowd funding, vote for these guys to get a turn mining because they are working on features you want or vote for a delegate to help cover overheads of the services you use.
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make any difference to the price at all.
DPoS could fix the blockchain security, fix the incentives increasing sustainability, stop the race to the bottom and help build a stronger coin for the community through incentivised development. Ultimately we need to prove the technology through adoption, but adoption by anyone but the most geeky needs better services and services need development and development with momentum needs incentives. Vote for the delegates that push us in the right direction. Do you like that project delegate.usefriendlywallet is working on? Vote for him.
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If DPoS is the answer (which I believe it is) then the algorithm used for mining isn’t important. Mining would be carried out at low difficulty.
At the moment there is too many ‘believes’ and arguments around DPoS.
We should try to set up a simulaton or a Sandbox and start to learn how to works, what the sweet spots and what the weak points of it.
A change that big has a lot of risks and needs to be prepared very well
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I’d love to see that happen. There is plenty of info out there on Bitshare’s DPoS, some great videos on YouTube. I’d also encourage you to install the Bitshares client and have a look at the delegates tab.
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shadowhh32 what litecoin is doing right.
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has a purpose, both a stated purpose (which people believe), and a useability purpose (which even if not the makers original purpose works for it for now).
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it doesn’t change core features and core devs aren’t influenced on ltc v USD when making crucial decisions, so it has TRUST (trust from another BIG point even over and above bitcoin especially if cryptos go mainstream).
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Its not getting into the arms race of adding ‘innovative features’ (which those with the actual cash to invest know is all bs), keeping it simple.
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At the moment there is too many ‘believes’ and arguments around DPoS.
We should try to set up a simulaton or a Sandbox and start to learn how to works, what the sweet spots and what the weak points of it.
A change that big has a lot of risks and needs to be prepared very well
and plenty of none believers in the crowd that actually knows how to code, todate there is not one smoothly working alt that using POS let alone Dpos,
sumary POS is dodgy as
also Dpos is just added compication
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shadowhh32 what litecoin is doing right.
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has a purpose, both a stated purpose (which people believe), and a useability purpose (which even if not the makers original purpose works for it for now).
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it doesn’t change core features and core devs aren’t influenced on ltc v USD when making crucial decisions, so it has TRUST (trust from another BIG point even over and above bitcoin especially if cryptos go mainstream).
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Its not getting into the arms race of adding ‘innovative features’ (which those with the actual cash to invest know is all bs), keeping it simple.
Neither Litecoin nor Bitcoin are doing anything right. Litecoin has a historical price based on a lie: Being added to MtGox. Bitcoin has a historical lie behind it also: MtGox prices were fake and Silk Road was its real foundation.
Technology is not an arms race. It’s actually serving needs. The interface is not simple, it’s sparse. The elephant in the room: Bitcoin code is ridiculously non-modular.
Anyways, you want a solution. I am doing it this week. Lizhi is onto something.
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zerodrama you are basing you’re whole argument on cryptos vs USD, thinking along those lines and you are seriously in the wrong game.
forget price give me something of value,
“Anyways, you want a solution. I am doing it this week. Lizhi is onto something.”
What is your solution?
More importantly what is the problem you are solving?
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Stagnation is the problem.
Solution:
1. I am building a method for news to actually be coordinated about cryptocoins.
2. I am working on a modular core for cryptocoins so people can stop debating the difficulty of coding for cryptocoin.
3. Link / Flux is going to get done as my life has gotten less crazy.
4. I am suggesting that a shoutbox be added to the top of the forum cuz this place looks dead.
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zerodrama on this occasion I both agree with what the problem is and your solutions :)
one of the biggest things to help ftc to is previous height (though I’m sure this round you guys want even higher), was articles everywhere to be found about feathercoin, also those oxford videos on ftc users etc where pretty cool.
now seems very little out there on ftc also yeah bit thin on the core supporters in here…improving on thats are good start.
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Oh I agree and that’s certainly an issue that needs resolving. I’m working on the new website with an aim at instilling that vibe once again. It was that which got me into feathercoin. We have dug into the forum and people can’t see in the hole and we all know that needs fixing. (BTW if anyone has any spare time and wishes to help contribute towards the website content, please drop me a PM)
But these are two separate issues both can be worked on in tandem.
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I like the ‘keep it simple’ part :)
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I like the ‘keep it simple’ part :)
There’s nothing simple about 1,116 GH/s + of screaming hot energy sucking devices in rows and rows in air conditioned warehouses all over the world that we need to secure a blockchain. DPoS is simplified, you’ve simplified the mining down to 101 miners (at any one time) and reduce the difficulty whilst securing the blockchain, incentivising develoment, community participation and making the blockchain faster. :)
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Just to clarify my point above where I said, “at any one time”; it doesn’t mean 101 miners all competing PoW style. It’s the top 101 delegates based on the democratic “stake vote” who take turns, so each of the delegated miners gets to mine a block at low difficulty in sequence.
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There’s nothing simple about 1,116 GH/s + of screaming hot energy sucking devices in rows and rows in air conditioned warehouses all over the world that we need to secure a blockchain. DPoS is simplified, you’ve simplified the mining down to 101 miners (at any one time) and reduce the difficulty whilst securing the blockchain, incentivising develoment, community participation and making the blockchain faster. :)
and there’s nothing not centralised about having 101 miners at anyone time whether they are rotated or voted or not. wouldn’t you call the US goverment centralised (voted and rotated, no?)?
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I just have one question. Who pays for the network construction and development ?
DPoS provides a block chain hire.
No menoy No future
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and there’s nothing not centralised about having 101 miners at anyone time whether they are rotated or voted or not. wouldn’t you call the US goverment centralised (voted and rotated, no?)?
Small groups doesn’t equal centralised IMO. I’m not hot on US politics, but you have two voting options from what I gather? Surely the choice of hundreds of independent parties to elect 101 independent representatives with no president would much much more decentralised than what you have now? On top of that the fixed term of DPoS in Bitshares is seconds rather than years. If you lose faith in your representative you can retract your vote.
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I just have one question. Who pays for the network construction and development ?
DPoS provides a block chain hire.
No menoy No future
Exactly. I would vote for Lizhi, he would receive an incentive to continue his development. Who is more deserving of the reward? Some random guy who had enough capital to burn energy (PoW), enough capital to invest in a large stake (PoS) or Lizhi who works tirelessly and gets thrown tips?
Bottom line, we could be funding hundreds of different 3rd party services being built to move feathercoin forward rather than the race to the bottom in the cashing out fiat for hashing race.
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Credit to poiuty for this dynamic image. 56% of our hashrate is coming from 3 pools. Sure, they are pooling mining resources, but it’s still very very ‘centralised’ too.
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So what is our purpose again? And these innovative feature you speak of…arent they required now that we have gone Neoscrypt and borked everything up? Change is enevitable.Nobody likes change.I think we need to fix what weve broken.
