Quote from: alkan on April 13, 2017, 09:07:24 AM

Quote from: alkan on April 10, 2017, 06:23:40 PM

Quote from: iamnotback on April 10, 2017, 06:10:53 PM

Quote from: alkan on April 10, 2017, 06:06:22 PM

Quote from: iamnotback

Besides the shadow elite are apt to love the altcoin I will launch, because they will see it as yet another speculation that falls under Bitcoin's umbrella.

Why would they love a currency that is designed to be truly decentralized? Please be more specific on that.

Because they don't think anything can be. They will view it as another speculation or if necessary something they can capture when needed.

I assume you meant "decentralized". But that leaves us with a dilemma:

a) They think it because they are very smart and proved the impossibility of decentralized currencies before releasing Bitcoin. Though that would mean that your design would turn out as impossible as well. Either because it's impossible as such or because it will finally get captured by them.

b) They didn't prove it and just think (or hope) it. In that case they would be very dumb (and thus cannot be called an "elite") since they must have been aware of the risk that someone would eventually come and fix Bitcoin's flaw of becoming centralized.

@iamnotback: Do you have any thoughts on how to solve that dilemma?

From my deep study of the range of plausible designs for a blockchain consensus system (and I studied much deeper than in than what is contained in that linked thread), I conclude that it is impossible to have a fungible token on a blockchain in which the consensus doesn't become centralized iff the presumption is that the users of the system gain the most value from the system due to its monetary function.

However, I was able to outsmart the global elite, because I realized that if the users of the system gained more value from the system for its non-monetary function and iff that value can't be financed (i.e. its value can be leeched off by control of fungible money), and if I provided a way for the users to provide the Byzantine fault DETECTION as a check-and-balance against the power of the whales and if I provided this in a way that is not democracy and is a crab bucket mentality Nash equilibrium, then I would have defeated the problems with the concept of fungible money.

The elite simply weren't aware of these concepts, because I invented them. Nash didn't know this.

And that is what I intend to launch with BitNet.