Quote from: TPTB_need_war

Quote from: Hueristic on December 08, 2015, 08:26:32 AM

Quote from: TPTB_need_war on December 07, 2015, 10:58:03 AM

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Agreed this is a problem when there is a huge double-digit percentage annual debasement due to PoW that is mostly ending up in professional miners hands. The professional miners locate their latest model ASICs next to hydropower plants have 1/4 the electricity costs (compared to residential) and 1/100th - 1/1000th (for a specially designed PoW hash function such as the one I will soon release, not SHA) the computational costs compared to general CPU at home, thus their cost of mining for example a Bitcoin is less than $50 each. They will always have an incentive to add more resources to capture a greater percentage of the mined coins.

But that isn't the only way to structure PoW mining.

There are two ways to deal with this problem:

1) Force every user to submit PoW with their transactions, i.e. no transaction gets on the block chain without PoW attached. Note getting this sort of design to be robust, requires an entirely different way of structuring a block chain. If the attached PoW is low enough difficulty, then it costs more to farm it out (network latency cost) than to mine it locally given it is an insignificant and unnoticeable cost.

2) Limit debasement to a small annual percentage.

In that case, the professional miner will not be able to mine a significant quantity of the coins, and they will not be selling a significant percentage of the market cap. Thus the downward pressure on the price that impacts Bitcoin will be abated....

Why not just use copyrighted cpu extensions that are illegal for manufacturers to produce without Intel and or AMd licensing?

China doesn't enforce our copyrights.

Firstly China DOES enforce copy writes when it is in their best interests. Taking on U.S. Tech Giants is not in those interests. Like it or not the US Gov has sway over every other Gov to a degree and this one crosses the line.

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Governments don't enforce our property rights when it conflicts with their power.
If not for the fact that not all global jurisdictions will comply, I would presume that authorities could probably track down the centralized sources of PoW that a botnet could be retrieving the PoW from. The botnet itself can't be targeted with legal action.

Bolded is a true yet not pertinent to discussion. As for the rest of that statement while it is possible that they could and probable that they would this still does not pertain to the question at hand. AFA the last statement on Botnets, Who cares what secures the network. I'd rather see a botnet secure a chain as opposed to making an attack on infrastructures. Like it or not Botnets will have a Global effect in some form for the foreseeable future. As a matter of fact if I were a Corporation protecting against botnets or in Gov position to battle botnets I would most certainly keep the price of coins that can only be cpu mined above the price of making DDOS attacks. I would be much cheaper in the long run.

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We are trying to construct monetary freedom orthogonal to dependence on governments.

Which does not mean we cannot use governments to help us. Learn gorilla war tactics.

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I don't consider a copyright to be property, rather I consider it to be theft from the future (degrees-of-freedom). Coasian barriers are stable until they burst.

What you consider has no bearing on reality.

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Generally speaking I do not even consider any ideas that involve relying on legal structures to enforce, because I am strongly anarchist/Libertarian. But it is also true that until there is a NWO world government totalitarianism that has a monitoring 666 chip on every computer and human, then enforcing law is leaky.

I to am a strong Libertarian but anyone that is an anarchist does not know what true anarchy is. Bolded is of course true, yet also not analogous to our discussion.

Since you have diverged my question into a political discussion I will give my views on this. AFA I'm concerned Mankind will never be free until all commodities are tied to an individuals(ALL) base global monetary unit (GC). GC=t+t*(valuation of profession). A huge portion of government would be removed with this although as you have said it will most certainly come with the loss of many liberties Which blows but is inevitable. At least with global authority much waste from redundancy will be rendered obsolete and a global monetary unit will of course be instituted. What that unit is "Based" on is what will define the future.