Topic: [ANN] MITOSYS: New Encrypted Communications Cryptocurrency - page 3. (Read 11556 times)
I like this idea, I like a Crypto-Currency based on a service. A few things,
1) will the system have checks and balances to control inflation/deflation?
- like things to make it so that if it becomes extreamly popular that the system isn't just pooping out tons and tons of coins?
2) I've got to wonder if the information would be that much more secure if it was held in a public ledger which in theory could be cracked.
( I may have misunderstood that though.)
Maybe an idea to add into it all.
- A system where people could sell of CPU/Ram power directly into the system and other users could buy it, like directly from the client.
( so that when there was no data that needed to be transmitted then the users could still be working in the network and the coins could still be gained by workers with out them having to be minted, keep inflation down as well.)
1) will the system have checks and balances to control inflation/deflation?
- like things to make it so that if it becomes extreamly popular that the system isn't just pooping out tons and tons of coins?
2) I've got to wonder if the information would be that much more secure if it was held in a public ledger which in theory could be cracked.
( I may have misunderstood that though.)
Maybe an idea to add into it all.
- A system where people could sell of CPU/Ram power directly into the system and other users could buy it, like directly from the client.
( so that when there was no data that needed to be transmitted then the users could still be working in the network and the coins could still be gained by workers with out them having to be minted, keep inflation down as well.)
Oh, and I repeat my suggestion to choose a name and include it in the title of this thread.
If nothing else, it helps people easily find this thread via Google if they remember the name.
If nothing else, it helps people easily find this thread via Google if they remember the name.
Good stuff!
I think you ought to add a quick comparison of this project to bit-message, to help readers place this in the ecosystem.
Also I don't think you should link to a post in the newbie forum for further details ...
Instead I'll just copy your original more detailed post to Google Drive.
I've set the editing option to "anyone with the link" - so you all can comment and edit the document.
Ideally this stuff should migrate to github just like we're doing with the Mastercoin Spec.
I have had a few initial talks with Zumbi about his idea.
Sadly I do not have time to go over the details, but I will give my limited feedback and summary.
The goal is a worthy one, and I'm only aware of one other project with a similar but not identical goal - cryptosphere. I think that anyone looking for opportunities in the Bitcoin space, and identifies with Zumbi's ideals, this project is worth a serious analysis.
I will be following the project, and if time permits, contribute however I can.
Sadly I do not have time to go over the details, but I will give my limited feedback and summary.
The goal is a worthy one, and I'm only aware of one other project with a similar but not identical goal - cryptosphere. I think that anyone looking for opportunities in the Bitcoin space, and identifies with Zumbi's ideals, this project is worth a serious analysis.
I will be following the project, and if time permits, contribute however I can.
I think you ought to add a quick comparison of this project to bit-message, to help readers place this in the ecosystem.
Also I don't think you should link to a post in the newbie forum for further details ...
Instead I'll just copy your original more detailed post to Google Drive.
I've set the editing option to "anyone with the link" - so you all can comment and edit the document.
Ideally this stuff should migrate to github just like we're doing with the Mastercoin Spec.
Update: (Nov 12, 2013): Published Mitosys proposal in Bitsharestalk.org forum. Bitshares is a product of Invictus Innovations who specializes in the creation of Cryptocurrencies and other Decentralized Solutions. If this other thread gets quality attention and followup in Bitsharestalk forum most probably we will be publishing only there for practical purposes.
Update: (Nov 11, 2013): Created Trello Dashboard
for Mitosys Development. 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)
Update: (Nov 11, 2013): Bounty of 28+ BTC for the following:
- Creation of a Mini-Blockchain code and basic client implementation (20 BTC)
- Zero confirmation-transactions (2.5 BTC) - comment: I believe this has been solved by Eli-Ben Sasson with SCIP, although I do not know if his implementation is Open Source or not-
- Re-mining of lost blocks (2.5 BTC) -comment: This I do not know if it is necessary-
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
Hi guys,
Due to a good suggestion of my friend ripper234 (Ron Gross) I'm doing this short but sweet.
A new concept is in the making. And the project is moving forward.
WHO:
I'm a Bitcoin enthusiast who has been following developments in the shadows for quite a time.
Zumbí was a brave Afro-brazilian slave who became a warrior. He trained other fellow slaves to fight and escape opression by living in free colonies. Hence, my nom-de-guerre. But I am rather peaceful and believe free people and free markets are what unleashes human creativity and progress.
WHAT:
MITOSYS: A new cryptocurrency that is mined through a proof of work which is the capability of relaying encrypted transmissions over the established internet, or through informal parallel peer-to-peer networks.
HOW:
You help other people transmit encrypted data, you earn credit. Data will be temporarily stored in a dynamic blockchain that prunes itself to keep the size down, and account balances will be stored in a separate distributed archive called the account tree. Mobiles will be fundamental and the main target of this distributed network.
WHY:
- - To get rid of government spying and its armed forces, the oligopolic telecom carriers, ISPs and big data companies that provide them with all our information.
- - To bring affordable and secure communication to the masses.
- - To give people a store of wealth derived of a basic human need which is to communicate freely and universally.
- - To provide a deeper meaning to mining, which will be not only acquiring the right to store financial information that cannot be destroyed, but also acquiring the right of having ones information securely delivered in time.
WHERE:
Development will take place in bitcointalk.org and github, plus distributed encrypted backup copies of all work. Maybe even copy information in Bitcoin's blockchain.
Main markets are USA, Brazil, Russia, India and China.
WHEN: Right now!
I'm recruiting a peaceful army of skilled, resourceful, practical idealists who can carry this forward together.
For more information see: https://bitcointalksearch.org/topic/concept-distributed-encrypted-data-transmission-rights-cryptocurrency-327186
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Update: (Nov 11, 2013): Created Trello Dashboard
for Mitosys Development. 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)
Update: (Nov 11, 2013): Bounty of 28+ BTC for the following:
- Creation of a Mini-Blockchain code and basic client implementation (20 BTC)
- Zero confirmation-transactions (2.5 BTC) - comment: I believe this has been solved by Eli-Ben Sasson with SCIP, although I do not know if his implementation is Open Source or not-
- Re-mining of lost blocks (2.5 BTC) -comment: This I do not know if it is necessary-
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
Hi guys,
Due to a good suggestion of my friend ripper234 (Ron Gross) I'm doing this short but sweet.
A new concept is in the making. And the project is moving forward.
WHO:
I'm a Bitcoin enthusiast who has been following developments in the shadows for quite a time.
Zumbí was a brave Afro-brazilian slave who became a warrior. He trained other fellow slaves to fight and escape opression by living in free colonies. Hence, my nom-de-guerre. But I am rather peaceful and believe free people and free markets are what unleashes human creativity and progress.
WHAT:
MITOSYS: A new cryptocurrency that is mined through a proof of work which is the capability of relaying encrypted transmissions over the established internet, or through informal parallel peer-to-peer networks.
HOW:
You help other people transmit encrypted data, you earn credit. Data will be temporarily stored in a dynamic blockchain that prunes itself to keep the size down, and account balances will be stored in a separate distributed archive called the account tree. Mobiles will be fundamental and the main target of this distributed network.
WHY:
- - To get rid of government spying and its armed forces, the oligopolic telecom carriers, ISPs and big data companies that provide them with all our information.
- - To bring affordable and secure communication to the masses.
- - To give people a store of wealth derived of a basic human need which is to communicate freely and universally.
- - To provide a deeper meaning to mining, which will be not only acquiring the right to store financial information that cannot be destroyed, but also acquiring the right of having ones information securely delivered in time.
WHERE:
Development will take place in bitcointalk.org and github, plus distributed encrypted backup copies of all work. Maybe even copy information in Bitcoin's blockchain.
Main markets are USA, Brazil, Russia, India and China.
WHEN: Right now!
I'm recruiting a peaceful army of skilled, resourceful, practical idealists who can carry this forward together.
For more information see: https://bitcointalksearch.org/topic/concept-distributed-encrypted-data-transmission-rights-cryptocurrency-327186
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