Quote from: r0ach on September 16, 2015, 07:49:48 PM

I don't remember his exact language used to describe what was needed to prevent the system from failing, which is why I said "correct me if I'm wrong". I thought I remember seeing the 200% specification somewhere. I doubt it's 1000% (order of magnitude) since this would just give you the same centralized pool structure as Bitcoin now.

Here it is:

Quote from: ion.cash on September 13, 2015, 08:49:48 AM

Quote from: r0ach on September 13, 2015, 04:33:22 AM

Did you just reveal that mining has a proof of burn involved because I don't see any other way for that statement to work otherwise.

I already told you that if users are required send PoW with each transaction and they don't care about their insignificant electrical cost then PoW will be unprofitable, especially if the CPU-only hash has been well designed to be within an order-of-magnitude of the potential ASIC optimization. In my recent archives (July?), smooth and I estimated this order-of-magnitude for Cryptonite at between 1 and 2, and I believe mine may be slightly better than Cryptonite.

There is your first example of me doing something technical you formerly thought is impossible. And there will be many more such cases. Stay tuned...