Quote from: r0ach on June 24, 2016, 03:18:44 PM

Quote from: kiklo on June 24, 2016, 12:12:09 PM

Some type of Negative Feedback

Then you just end up making a Rube Goldberg permissioned ledgerr. In the real world, force is the final arbiter of consensus, which is why Bitcoin is based on the same principle. PoW is just a wargame exercise moved from physical to digital space. It works because force, violence, whatever you want to call it, always trumps reputation, age, or any other variable.

Since Satoshi didn't and can't solve Byzantine generals, the only way the system can work is leveraging the variable of confirmations, which has no upper limit, with an open entropy source to make it impossible for a permanent monopoly of block validators from occuring over a long enough timeline.

Get rid of perputal mining, then you have a permissioned ledger falling under the privatized vs public money aspect. Get rid of the unbounded entropy source, then your confirmations go from useful to worthless.

You say permission ledger like it actually means anything, when it fact it means nothing.
We covered that issue, and it is a falsehood, iamnotback even explained to you how gold mining requires permission and you still cling to your false hood.
Once again, every monetary system requires permission , even if that permission is given by the mere lack of enforcement.

Plus your entropy argument is also asinine , for even the Multiverse is a closed system.

Some form of negative consequences is the only way to make iamnotback attempt to block people from dominating a coin, at least the only one I can see.
If you have a better idea post it.

Cool

FYI:
Personally and I know some others here don't share this view point.
Proof of Stake solves this issue for me , because a person has to sell his coins to get something else,
which will decrease his future earning capacity and help decentralize.
(However in r0ach's dream world no one ever has to sell coins to get food , clothing or shelter.)

The Problems arise when you allow monopolies / cartels to say who may or may not provide a product or service.
Or a Government uses Taxation or Political laws to gain majority ownership of any resource.