Topic: [ANN] MITOSYS: New Encrypted Communications Cryptocurrency (Read 11556 times)

Fixed:
New Plugin Allows Developers to Turn iOS Devices Into Bitcoin Mining Bots

Clicking the link doesn't work...copy/paste does though

genjix:

Please assist us. Let us help each other.

Looking forward to your reply.

Zumbi

This is a really cool project and I think you can go either further.

Ron:

I have emailed main Bitcoin Devs (5) directly to their inboxes and the Bitcoin Devs Sourceforge mailing list. Lets see how that goes.

Regards

Good news for Project Mitosys: Mobile Mining Technology just kicked off (ICOMINER)

November 1, 2013 
http://www.macrumors.com/2013/11/01/new-plugin-allows-developers-to-turn-ios-devices-into-bitcoin-mining-bots/

Hi Ron,

Thank you for your quality input as usual.

This is not separate from Mitosys, but as a roadmap to developing decentralized encryption data transmission and sharing. However I think this is the next step after the EDC cryptocurrency is developed. Either way, it wouldn't hurt to get the developers neurons firing at this issue and get them introduced to EDC.
I think it would have more "entity", respect and views if you post it, but if you'd like me to do so, let me know.

I don't know how to implement a social network DAC. We should brainstorm that.
Get some deep tech guys to do the analysis.
I don't know if the social network DAC is separate from Mitosis or not ... you might want to merge that.

Try and get some of Bitcoin's core developers interested in this proposal.
Post to the technical Bitcoin threads/forums/mailing lists.

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Making this public per request of Ron Gross, Executive Director of Mastercoin

From: Zumbi
To: Ron Gross

I saw the DAC list and thank you very much for including Mitosys.

About a social networking DAC: I already specified it in my draft, its at the final page, related to the next step after a communications cryptocurrency, is a data storage cryptocurrency.

But what is the constraint today for a DAC social network? The vast amount of information handled is too much for every client to have a copy of the blockchain where social network user data will be stored.

Ive been thinking maybe if a statistical analysis could be run regarding a certain piece of information being stored only in X amount of client/servers, what would be the fallibility rate, regarding hardware, communications, energy and third party failures (government/robbers/others). Therefore the blockchain would turn into some kind of "shamir's sharing secret of blockchains" in which each client/server would not hold the whole blockchain but rather pieces of it, that when, connected to the network, it would be fused as one. If not, we would have to wait until affordable Quantum computing comes and processing/storage data becomes so potent that our needs for information transmission/storage and its costs would be dwarfed by the technology available to handle them.
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Dear markm,

Regarding the funding aspect of the business the only part in where I talked about sending money to someone was to developers. I've never asked money for myself or for anything else than that.

We hope you can contribute information about how to profitably monetize bandwidth, transmission and storage of data, and its technical obstacles.

The only way of breaking through a stall/plateau is by getting the word out, inevitably, people will come up with solutions. Particularly if you tell them that it can't be done


Dear bybitcoin,

I agree with you, a technical whitepaper must be produced before launching the business. From my part, I am giving everything that is in my possible means to implement this. There will be bright people who will be able to produce it.

Best regards

A business plan should be introduced only after a whitepaper or a proof of concept has been worked out and reviewed.

How about actually solving some of the real technical problems before running around soliciting money on the strength of seemingly nothing but a bunch of wild blue yonder pie in the sky ideas that if only you the marketing genius were provided enough money you'd solve all the problems of the world?

So far I have seen othing from you indicating you are even aware of any of the actual technical problems that all previous discussions of monetising bandwidth, transsmission, storage etc have stalled on.

But maybe you actually are aware of the problems and are deliberately avoiding mentioning them because if people know the thing could not be done they might not send you money?

I guess that is maybe what marketing genius is all about though, eh?

-MarkM-

In order to get this idea rolling we need to focus on polishing that draft and turning it into a solid business plan.

Once we have that business plan solidly crafted we can start pricing EDC coins  (which will also act like shares with voting rights in the system), very much similarly like investment banks do when they do an IPO (Initial Public Offering)

That way, instead of offering BTC bounties we could offer EDC bounties.

Here's why: I believe there must be a pre-mined amount of EDC coins in the Account Tree (about 5%) which will be allocated for developing purposes BEFORE the IPO/Launch of Mitosys.
In order for this to work, we must be very open about this fact BEFORE the IPO and store/distribute these coins in a preset-time and fashion, in publicly known addresses.

This public information is useful for economic actors in the system (users/miners/shareholders) because they know that these coins will be added to the monetary offer (sold) in a preset fashion, and can be discounted in EDC prices, giving them more certainty.

If developers/contributors to Mitosys project want to cash in their EDC holdings quickly in order to support their lifestyle, they could tie a PGP key to their identity, and sell those contracts in a private "secondary market" between them and investors who want to buy those coins, while notifying Mitosys project organizers in order to assign the coins/ deliver the private key to that new owner.

This is very similar of what happens with huge IPOs like Facebook. Shareholders like Zuckerberg, Saverin and employees who got paid in equity for their effort, had a lock-in period in which they could not sell their stock in order not to turn around during the IPO and crash prices, this would be akin to a pump and dump scheme.

Steve Jobs didnt own more than 3% in Apple stock, he developed a corporation in order to gift it to the world and make it public, and earn his fortune in the process.

This is the importance of DACs (Decentralized Autonomous Corporations), they are self-regulating entities who do not need a regulator like the Securities and Exchange Commision, they are regulated by changes in the code that are effected via the acquisition of voting rights. No need for Securities and Exchange comission. Everything is transparent, public and out in the open, and this must be the spirit of Mitosys as well.

How will this Decentralized Corporate Governance take place? I do not know, but we can take some inspiration on Mastercoin/Bitshares.

I think that the less complicated that the corporations' status (founding code) is made, the more transparent and easy to understand it will be and it will drive attention to long term investors, whether big or small, into Mitosys.

I am also thinking about certain principles that should be rock-solid in the foundation of the system, very much like the Founding Fathers of America did with the Constitution, with very high amount of voting rights to reform it, in order to keep the mission, vision and values of Mitosys untouched and remain a useful corporation for all actors involved -users, miners and shareholders/investors-.

Feedback and contributions are very much welcome!

I have been waiting for a realization of Mini-Blockchain scheme, following their two threads (which have been quiet for a while).
It will be great to see these two projects merge together for making a full functional new Crypto.. watching!

Well hopefully this Mitosys project will also get more people interested in the idea. I've done what I can by creating a bounty and advertising it on my website. I'm fairly busy with another project at the moment and with Christmas coming up I don't have too much time to spend on this stuff but I would like to see something get built.

Watching

Thanks Ron for heads up 

Created Trello Dashboard for Mitosys Development: Mitosys-Alpha

https://trello.com/b/jwYHyymU/mitosys-alpha

Currently we need help on polishing the Draft, identifying the necessary code that must be developed to implement this, set the proper bounties according to market and attracting the right developers (who can co-work and claim bounty together if they want to)

This board is OPEN for everyone to see however, all of you who want to have edit privileges please PM me with your email address so we can add you! - cc: bitfreak! -

All updates of the project will be both in the board and by editing the first post and putting the date of the update, so that new people that come and get to know about Mitosys, that will be the first thing that they see without having to read all posts.

Watching

Dear bitfreak!

I shall edit the post to reflect that the most updated information of your concept is in the Wiki, and thank you very much for the generous proposal.

The main concern now maybe is not much about technical issues, but of human talent issues.

How do we get this to all of the "right" people, who can do something about it and get them interested in taking action?

Best regards

Ok cool, it's sounds very similar to how I imagined it. One thing I want to mention though: you should link to my project wiki instead of the white paper because the white paper is very outdated compared to the wiki. I think this is a great idea though and I will keep my eye on this project. Send me a PM if you have any questions about the mini-blockchain proposal.