I was reading the thread of mining cartel vs banking cartel etc where you and other very smart guys argue and I have a headache since that is too much academic stuff for me, and also my monitor is broken and im in some old ass 17 inch CRT going blind since i cant afford a new one for now.
Those discussions are very technically detailed with deep game theory, economics theory, and blockchain expertise, thus it would be difficult to follow (even for myself if I had tried to read that in 2013). We could explain all that to you in simpler language if we had time to summarize it, but it isn't my priority right now to make sure everyone understands all those technical details. That discussion you referred to also made me exhausted. I have stopped that discussion now, as I convinced myself that OpenShare is absolutely needed for decentralized scaling on unlimited transactions, not just payment transactions but many of the decentralized database transactions on the Internet, such as replacing many of the websites you use now with a decentralized database including Facebook, StackExchange, Google Playstore, GitHub, etc..
You said you have 25 BTC and a 19" flatscreen sells for 0.15 BTC. I think given crypto investing is your current vocation, perhaps consider it a wise expense.
I can't guarantee it, but my read of the chart is that ETH will outperform BTC. Remember I told you and everyone I bought it at $45 a few days ago, and now it is $52.
XMR also looks like a solid speculation after recent pullback, especially on any pullback to $15 (I won't pull the trigger until that dip bcz I am satisfied with holding ETH).
Anyway something I noticed is how you basically claim bitcoin is doomed because whales control it.
My question is: how do you then pretend to stop the formation of whales in your coin?
From what I can gather you solved the entire PoW mining cartel thing cause there is no mining per se in your coin, not sure how that works but anyway, assuming that is the case and your coin is solid without the usual PoW (or other existing methods) problems, what about the whales then?
In every free market there are going to be whales since people expect big rewards by taking the big risk of being a really early investor of something (if it takes off and is a success). So what treats can whales pose?
For near-term protection of intellectual property reasons, I am not ready to reveal the specific design of the OpenShare blockchain and consensus algorithm, although it will all be revealed and open sourced eventually (we really need to accelerate the coding). Again, no ICO is planned, so I am not obscuring to try to trick any speculators.
But I can give you a general description for now, which might satiate your curiosity for the time being.
The OpenShare design doesn't attempt to prevent a power-law distribution of the tokens (i.e. whales) because that would not be possible to prevent. Power-law (or exponential) distribution of resources is the norm in nature. The tokens will be distributed to the app devs, users, and content producers, so we aren't necessarily distributing them to whales initially. The distribution will be meritocracy where those who receive tokens do so because of some objectively verifiable "work" they provided to the ecosystem. Speculators will have to buy them from those groups.
Instead the design (in theory) makes it impossible for the whales to force onto to the rest of the users what the protocol will be, and it makes it impossible for any node in the system to misbehave because the system objectively detects malevolence and routes around it without employing PoW. Think of my design as a hive of bees, that routes around obstacles or attacks and attacker. That hive acts as one brain, but no one can control it, because it isn't voting (and thus doesn't have
the problem of voting). Contrast this with for example how
the whales in Bitcoin can dominate the economic rewards of the blocks and then make sure only their approved miners get those rewards.
I don't want to try to characterize the difference in security comparing OpenShare vs. PoW, because I think my design is comparable in security, but this needs to be heavily peer reviewed because the game theory for new consensus designs is very complex. Really you should trust nothing until it has been heavily peer reviewed. But any way, when we launch there won't be a lot of value at stake and the peer review will come before there is a lot of value invested into the system.
Another question I have is, how does your project defend against someone with enough resources to convince enough people to support a fork of your coin and try to make this fork the "official OpenShare"? (similar situation we are seeing now with bitcoin where the other camp tries to take over and steal the brand)
That is why I won't make it open source immediately. Once we have say 10,000 users then we'll have enough of a lead. Once we reach critical mass of 10,000 users, we'll probably quickly reach 100,000 then a million. That assumes we have plenty of apps ready. So I am hoping we can interest some app developers to be in early on this. They will get so many tokens if they do and become likely very wealthy. If I have to write the initial apps myself, this won't get launched in 2017.
I want to get the forum operating asap so I can start working with app devs.
Also yes you should create a forum and so on. opensharetalk.com is registered. openshareforum.com is not that is a good one.
I was thinking just to put the forum on the main domain in a subdirectory or forum.opensha.re.
Did I answer your questions? Feedback is appreciated from readers.
(Note my forehead on keyboard sleepy while writing this so please excuse any errors in the prose)