Topic: Economic Totalitarianism - page 84. (Read 345758 times)

In which case, you meet an inverse 3-Generals Problem wherein a plutocrat or plutocratic body is "the commander" (Lamport, Shostak, Pease), your mathematician is "the loyal lieutenant" (Lamport, Shostak, Pease), and you are "the other lieutenant" (Lamport, Shostak, Pease).

(Red colorization mine.)

Apologies I didn't mean to imply that BTC will disappear or even that it will become the smaller market cap any time soon. I just mean that for what we need in the Knowledge Age, BTC is lacking those aspects trollercoaster enumerated. Note I havent engaged in private conversations with trollercoaster about details of my work.

There is one aspect that is still not solved for crypto-currency which is filtering of the protocol. The next TODO will be steganography and also figuring out how to keep the block chain online with HAM and shortwave radio should that become necessary.

After selling some coins, we can fund the research & development needed on those remaining items. That is one reason we should not do a mining launch and then throw away all your money into hardware and electricity, when instead we can pool your money and put it towards solving all our needs. I have a lot of other ideas for existing and new projects that need funding that appeal to our common goals and interests. We just need to make sure that when we will sell coins that we do on an open market exchange and that we document where all the money is being spent (no way to repay a loan in order to cheat if you spend the money received), so it is provable that the controlling entity (which won't be me!) isn't hoarding coins. I can not be a controlling entity due to SEC regulations and I am a USA citizen. I will have to be paid by such an entity for my services.

I hope everyone understands I expect to be paid very well so I can retire. That means perhaps up to 1% of the coins (of course some spent over time to fund my lifestyle thus not 1% forever, but also not dumped on the market all at once or even when the coin is young). I've worked tirelessly nearly 18 x 7 on this for the past 2.5 years self-funding myself (except for roughly BTC15-20 I received from rpietila, smooth, and jl777 in 2014 and big thanks to them) and depleting my savings. But angel investors would take more than that any way, so that is why I wanted to make sure the angel investment gets spread around so that no one can dominate the markets early on.

One thing that can be done for anyone who attains 1% of the coin supply in this early vestment period is to lock coins for a period of time, even with staggered times they become tradable, so they can't be all dumped onto the exchanges all at once.

The other challenge faced is trying to launch a coin into a down market and the crypto community losing its fever pitch to buy altcoins. Any way, I think 4 - 6 months means launch as crypto is bottoming if you believe Armstrong's model that the low for gold will be March or April 2016.

For angel investors, they get to lock in their stake in dollars now while BTC is still loitering near $300. I do think we have a bounce in BTC coming right about now and hopefully one more time up to $325 so you all get one more chance to divest BTC before the collapse below $150 (if I am correct that BTC will follow gold down as both being private assets).

Also we have the GavinCoin threat (promise?) to fork Bitcoin in March, so someone pointed out to me in private that this might contribute to a selloff in BTC. My thought is to stand on the sidelines until the GavinCoin crap is sorted out. Others look at it as a chance to own coins in two forks and sell in one or both forks. I don't have an opinion on that. Haven't studied what can happen.

This GavinCoin scenario is opening the door for an innovative altcoin to step up. But remember the mass media will probably always favor BTC so don't expect any altcoin that seriously challenges BTC on tech to get media coverage. Big media might even have a policy of blackout on it. Note I have a connection in the media that writes often about computer security and crypto currencies. So I think I can tap him (and there will be others).

• 1st they criticize
• 2nd they attack
• 3rd they join

Also the other factor is Blockstream and their sidechains. If that becomes serious and it could this Fall, then there needs to be a strategy to make sure they can't just copy your coin and make it a side chain. And the easiest way to do that, is make your coin also a side chain. I have some ideas about how to cleverly do that while still retaining independence also.

The person who I had in mind to be a public liason on this coin has declined (unless if no one else can be found). So that position is still open. It should be a paid position since you take on some responsibility and exposure. But that person needs to be absolutely trustworthy. Please no one that will post in the threads of other coins or attack any one about any thing. Even though I've done that occassionally in the past, I want to stop that entirely. And no one that will tell users what they must buy. A person who will not turn hoards of people into haters against the project. Yes there are other coins that are scams, but that is not our problem. Lead by positive actions and results, not by negative comparisons against your scammy competition. One user did PM me offering to be that person. I will try to follow up with him.

After much contemplation, I have decided I prefer to remain anonymous (plausible deniability) on such a coin project. Thus I want to go silent about it again. No more details from me. You won't be able to prove if it was really me or not (but hey don't be stupid, you've been given copious hints).

So thus I won't be announcing who is that liason publicly.

If you've expressed an interest to invest as angel investor, then you will be contacted. And there will be some way to prove the tie to me for those angel investors.

For everyone else (the public), you've read every thing I am going to write about this from my user account.

Again I am doing this mostly because I want these tools. My best creations have come from tools I wanted to use myself. When I created CoolPage (and even though I am not proud of CoolPage's tech any more), I was frustrated when using Abobe PageMill (had a free copy from my prior work) to layout a web page and I couldn't afford NetObjects Fusion (or I couldn't download the 40MB trial because I was on slow dialup connection in Philippines) so I created something easier-to-use and access.

I am doing this now because I want to use these tools. So you can expect me to make them excellent as time allows the necessary coding to do refinements, because I want to use the tools. I hate Bitmessage's GUI and feature set, even though I am grateful it exists. I'll be so happy when we can replace Bitmessage with something easy-to-use and access.

What do I mean by easy-to-use and access? Well for one thing, it should be as simple as pointing your browser to a URL and a GUI client appears. Point and click.

Lot of work ahead me now. The conceptual work is about done. Now the grinding programming. So going silent is necessary any way.

P.S. for an example of why I need the math PhD's assistance and review, I need help to understand what Gregory Maxwell is referring to about the non-unity cofactor for EdDSA:

https://bitcointalksearch.org/topic/m.4083612

That is an example where my math is sorely lacking. I could figure it out with a lot of time, but right about now we need me to be coding and not teaching myself higher abstract algebra maths.

I would still like to find another coder who is at my level or higher. Preferably someone who knows how to code in Java and also knows cryptography. We would have a lot of paid work to throw at the person at even higher levels of pay especially after launch of the base testnet and core block chain functionality when we can sell coins on an open market exchange to raise funds to pay developers at top rates of conpensation (to get the best, you need to not be stingy). Just imagine all the work that needs to be done on GUI wallet, block chain explorer, etc..

Also I thoroughly understand about the need to use low level languages (for performance and) to ensure constant time cryptography and also to use typed languages to avoid silly cryptography bugs.

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Maybe my idea  will not be original ( even I am sure that will not be) but I want to say the mine and I want that my voice can be hear together with the others that might have my thoughts). There no secure place to put bitcoin or other altcoins (for the value they can have) except in our wallets. Every place out of those is not sure because the world is full with scammers who are ready right over the corner to steal those. So take those in our wallets, control from time to time and save fiat money to buy other for the times to come. The times when bitcoin will have real value and can be used in the right way into the real economy.

(A cursory review of "the last posts of [TPTB_need_war]" [BitcoinTalk] was sufficient to locate those statements cited below.)

Bitcoin lacks anything that would make Average Joe want to use it imo. In addition to technical prowess, a superior coin would have to be actually useful for it to have a chance to dethrone Bitcoin. Trading them for Dogecoins or paying for coffee is not useful.

I haven't had the time to read their full posts yet, but I will definitely make sure I get around to going through them, based on your recommendation.

TPTB/Anonymint has covered buttcoins flaws in great detail, I recommend you to read his posts or wait for the whitepaper, these will answer your questions regarding it's failures re: anonymity, centralization, scaling & vulnerabilities etc, better than I could.

I agree with this statement, however I am not sure what exactly a superior coin would look like. There are things Bitcoin lacks when it comes to anonymity, but it seems pretty sound aside from that, as we currently understand the technology.

Any ideas what Bitcoin lacks that future coins could do?

bitcoin has it's purpose to serve as a gateway to superior coins, but it's not a solution to the problems we face as the fanboys have been boastfully shouting about for the last six years.

It is not "hypocritical" (cbeast) to have an adversary "fall on his own sword."

As long as it doesn't involve using Bitcoins for fundraising. That would be hypocritical.

Does that "obviously simple solution" (TPTB_need_war) solve the 3-Generals Problem and ensure that its distribution does not serve plutocracy (i.e., "The Powers That Be")?

Can't wait for this, haha

The proposed ICO method is not provably able to limit the controlling group's share of the money supply due to the ability to take a loan and drive the price so high that only you buy all your own coins, then you repay your loan. Then you have no development funds. And price of your coins subsequently crash. Or some mix where you buy only some of your own coins with a loan, causing ICO investors to pay higher prices. Again the result would be prices would later collapse to the market price on the open exchange market.

So thus the proposed ICO method has been abandoned. There is an obviously simple solution. I don't think it is necessary to state it.

Do remember the coin launches using mining throw away all the capital due to the cost of the mining equipment and electricity to those corporations. And mining launches are also not fair because some have advantages such as botnets, optimized mining code, GPU optimized mining code, access to lower cost or subsidized electricity, etc, etc..

It shouldn't be difficult to make a launch that is provably more market transparent than than mining launch. Smart people find solutions. Some others would rather waste the capital and then claiminsist and troll that mining launches are more transparent   Seems like they are determined to fail in everything they do.

(And the "field test" is over.)

I did. Well done sir. Hope everything goes according to your plan and I'll be one of your supporters if what you say really works.

Cheers.

My final spam of this thread on this semi-OT. I know some here wanted me to do this:

http://www.abc.net.au/news/2015-08-12/37m-picasso-painting-seized-on-yacht-returns-to-spain/6690324?pfm=ms

FYI regarding solutions for totalitarianism, here is what $250,000 in investment could buy you (note nothing in terms of advance for anonymity mentioned):