I think it's dumb idea to lock your bitcoin only to give vote about scaling solution/network upgrade. People who have lots of bitcoin have power to manipulate the vote while people can't spend/sell their bitcoin when it's locked and people could track your identity/bitcoin movement if you show your bitcoin address (unless you use one-time address or use mixer service).
I think simple sign message for vote is still better idea even though it's not best solution.
I think one-cpu-one-vote could solve the problem if every bitcoiner can mine bitcoin from home and willing to do it and bitcoin only can be mined with CPU.
Topic: HODL.voting by Bitrated CEO Nadav Ivgi could solve the problem? (Read 211 times)
There's no need to create a system where you actually lock up the coins.
The site should just take a snapshot of the BTC blockchain once per day, and if the coins are still in the address add 1 point. If any of them have moved, then stop adding points for that address. That would make a lot more sense, since it gives people the freedom to spend their coins while still incentivising them to HODL (so that they can make their opinion heard).
However, I consider all voting systems based on how many coins you hold as dumb. It's irritatingly - people who own more coins are not necessarily superior in their opinions, and it also means that you're giving a signed message with a high number of coins. People who hold very large amounts of coins in a paper wallet, for example, are unlikely to do this due to the fear of losing their privacy, which means it doesn't accurately show the economic majority anyway.
The site should just take a snapshot of the BTC blockchain once per day, and if the coins are still in the address add 1 point. If any of them have moved, then stop adding points for that address. That would make a lot more sense, since it gives people the freedom to spend their coins while still incentivising them to HODL (so that they can make their opinion heard).
However, I consider all voting systems based on how many coins you hold as dumb. It's irritatingly - people who own more coins are not necessarily superior in their opinions, and it also means that you're giving a signed message with a high number of coins. People who hold very large amounts of coins in a paper wallet, for example, are unlikely to do this due to the fear of losing their privacy, which means it doesn't accurately show the economic majority anyway.
I just read Interesting article from bitcoinmagazine.com
Bitrated CEO Nadav Ivgi developed an early implementation of HODL.voting, a coin-voting solution with an interesting twist. To vote, users need to lock up their bitcoins, losing access to them for some time.
The theory is that by attaching a real cost to voting — loss of liquidity and ability to sell — we can get more reliable signaling, the Israeli developer thinks.
The concept behind existing coin-voting schemes like Bitcoinocracy is simple. Anyone who holds bitcoins can use the associated private keys to sign a message. This message acts as a vote, and all votes are added up. This definitively proves that all votes correspond to the ownership of bitcoins, allowing for a one-coin-one-vote type of system.
Do you think this is a good solution?
this is the website for vote : https://hodl.voting/
Bitrated CEO Nadav Ivgi developed an early implementation of HODL.voting, a coin-voting solution with an interesting twist. To vote, users need to lock up their bitcoins, losing access to them for some time.
The theory is that by attaching a real cost to voting — loss of liquidity and ability to sell — we can get more reliable signaling, the Israeli developer thinks.
The concept behind existing coin-voting schemes like Bitcoinocracy is simple. Anyone who holds bitcoins can use the associated private keys to sign a message. This message acts as a vote, and all votes are added up. This definitively proves that all votes correspond to the ownership of bitcoins, allowing for a one-coin-one-vote type of system.
Do you think this is a good solution?
this is the website for vote : https://hodl.voting/
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