Topic: Bitcoin Constitution - Looking for feedback - page 2. (Read 1627 times)
We should work to reduce the influence of miners. Selfish miners are part of the problem of long confirmation times. As block rewards move towards fees rather than the halving finders rewards, mining operations may return to a byproduct of running a full node.
In the light of recent disagreements that is going on regarding consensus, I thought of if we can define a mathematically verifiable process to achieve the same. Hence I have put up my idea in details at http://upalc.com/bitcoin-constitution.php. The basic is as follows...
1. At least 21 bitcoin should support a hard fork proposal to be discussed. A poll, created on www.bitcoinocracy.com and backed by 21 bitcoins, will suffice for Hard Fork to be discussed by miners. Please note that, 21 is an arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
2. More than 50% hash power should support the proposal for at least one difficulty period. This can be determined using www.blocktrail.com/BTC/blocks/1 or www.coin.dance/blocks.
3. More than 50% coin must support the proposal, where the total amount of coins participating in the poll is more than 1% of the total supply. This can be determined using a poll on www.bitcoinocracy.com.
Any hard forking change should give the network enough time to be aware, test and upgrade. Hence, I propose, all hard forking changes are pushed together only at the time of block reward halving, i.e. once in every four year.
Please feel free to rationally criticize and provide your valuable feedback on this proposal.
You speak of blasphemy.1. At least 21 bitcoin should support a hard fork proposal to be discussed. A poll, created on www.bitcoinocracy.com and backed by 21 bitcoins, will suffice for Hard Fork to be discussed by miners. Please note that, 21 is an arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
2. More than 50% hash power should support the proposal for at least one difficulty period. This can be determined using www.blocktrail.com/BTC/blocks/1 or www.coin.dance/blocks.
3. More than 50% coin must support the proposal, where the total amount of coins participating in the poll is more than 1% of the total supply. This can be determined using a poll on www.bitcoinocracy.com.
Any hard forking change should give the network enough time to be aware, test and upgrade. Hence, I propose, all hard forking changes are pushed together only at the time of block reward halving, i.e. once in every four year.
Please feel free to rationally criticize and provide your valuable feedback on this proposal.
To contaminate the separation of mining and owning BTC is violation of the sacred PoW commandments
You will be called a PoS zealot if to require BTC. Next thing you know you would want it based on some sort of PoS basis. Only miners are supposed to have any powers to decide.
Why not require some special PoW calculations that cost 21BTC? That way the miners who keep selling all their BTC will still have the total power to decide everything
James
In the light of recent disagreements that is going on regarding consensus, I thought of if we can define a mathematically verifiable process to achieve the same. Hence I have put up my idea in details at http://upalc.com/bitcoin-constitution.php. The basic is as follows...
1. At least 21 bitcoin should support a hard fork proposal to be discussed. A poll, created on www.bitcoinocracy.com and backed by 21 bitcoins, will suffice for Hard Fork to be discussed by miners. Please note that, 21 is an arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
2. More than 50% hash power should support the proposal for at least 21 difficulty period. This can be determined using www.blocktrail.com/BTC/blocks/1 or www.coin.dance/blocks. Please note that, both 50% and 21 are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
3. More than 50% coin must support the proposal, where the total amount of coins participating in the poll is more than 1% of the total supply. This can be determined using a poll on www.bitcoinocracy.com. Please note that, both 50% and 1% are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
Any hard forking change should give the network enough time to be aware, test and upgrade. Hence, I propose, all hard forking changes are pushed together only at the time of block reward halving, i.e. once in every four year.
Please feel free to rationally criticize and provide your valuable feedback on this proposal.
1. At least 21 bitcoin should support a hard fork proposal to be discussed. A poll, created on www.bitcoinocracy.com and backed by 21 bitcoins, will suffice for Hard Fork to be discussed by miners. Please note that, 21 is an arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
2. More than 50% hash power should support the proposal for at least 21 difficulty period. This can be determined using www.blocktrail.com/BTC/blocks/1 or www.coin.dance/blocks. Please note that, both 50% and 21 are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
3. More than 50% coin must support the proposal, where the total amount of coins participating in the poll is more than 1% of the total supply. This can be determined using a poll on www.bitcoinocracy.com. Please note that, both 50% and 1% are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.
Any hard forking change should give the network enough time to be aware, test and upgrade. Hence, I propose, all hard forking changes are pushed together only at the time of block reward halving, i.e. once in every four year.
Please feel free to rationally criticize and provide your valuable feedback on this proposal.
Jump to: