Quote from: bitcoinbeliever on May 22, 2014, 03:51:07 PM

Quote from: SlipperySlope on May 22, 2014, 03:04:14 AM

I do not understand the irony.

You are endeavoring to reinvent money. Money is not an enterprise. There is no general name for what it actually is, but as just one of its many functions, it mediates interactions between ALL enterprises. Therefore the solution needs to be far beyond enterprise-class, and far beyond sovereign-class.

Your plan is to explicitly co-opt bitcoin via a blockchain fork, using by your own words, rhetorical as they may be, only a large accumulation of (fiat) money as the tool. You imply that the global cryptocurrency franchise is something that can be bought. That is an uninspired enterprise-level business plan. If it actually worked, you'd better watch out for the next guy's fork. He might have an even bigger pile of fiat.

Have you considered that even fiat money issuers do not go so far as to pay dividends on cash?

As world-class institutions I offer 2 examples. One is the adversarial legal system. Is presuming people innocent of criminal charges the most cost-effective approach? Well, no, but only the adversarial system, where the state must confront and defeat every hare-brained defense, repeatedly ad nauseum, has left society feeling the remotest tinge of justice.

The adversarial system is also what works in nature. In the open ocean, every creature has to ruthlessly protect and defend its genome. There is almost no trust across genomes. And yet, a beautiful, balanced ecosystem emerges.

In this context, I think you underestimate the design of the mining function.

Your project will have its chance in the wild, and I will be disappointed in the universe if you succeed.

Thanks for responding. I need very much to continue listening if there is any hope of achieving the wide approval this project needs to launch in early 2016. I am now downplaying the payment of dividends to those who offer hot-wallet stakes. I think that needs to happen to the extent required to prevent an attacker creating many controlled puppet full nodes and out-voting the correct nodes when a detected inconsistency requires correction. The bitcoin core developers are skeptical yet awaiting "neat technology".

The daily mining reward has risen to $1.8 million. I suggest that a well funded team of say 200 programmers can easily be paid from this sum to out-compete subsequent forks.

The system I am presenting has a one-time opportunity to re-engineer the network, while preserving the Satoshi Social Contract. The reward schedule, the blockchain format, the fixed number of bitcoins, and the decentralized, trustless protocol are untouched. The system remains a global distributed database, with additions to the database by consent of the majority, based on a set of transparent rules they follow.