Gonna watch this topic aswell
Topic: Lets make Bitcoin 2.0 and combine all innovations of the past years into one! - page 2. (Read 1795 times)
June 27, 2013, 03:52:19 PM
Trying to get another few million, are we Satoshi?
Gonna watch this topic aswell
Gonna watch this topic aswell
June 27, 2013, 03:49:33 PM
Did you mean we need a new coin or an update to Bitcoin?
A bit of both. Bitcoin got so many things right, but in order to implement this host of new ideas and improvements, Im afraid we need a whole new coin because an organic update process of the Bitcoin protocol would take ages.
June 27, 2013, 03:40:54 PM
Did you mean we need a new coin or an update to Bitcoin?
June 27, 2013, 03:34:29 PM
There is a room for new currency. If we, the community, do it right, we can make it better and more valuable than bitcoin or litecoin.
June 27, 2013, 03:00:29 PM
You put a lot of effort into this. Will watch this thread attentively.
Thx, I think it is time we start on planning the next step after we have seen some break throughs with Zerocoin, OT, etc. in the past. Maybe no time yet to code but time to talk for sure.
P.S.: Visit my other project as well
BITCOIN -The Documentary-
https://bitcointalksearch.org/topic/ann-first-feature-length-documentary-on-bitcoin-100-bitcoin-funded-149892
June 27, 2013, 02:54:45 PM
You put a lot of effort into this. Will watch this thread attentively.
June 27, 2013, 02:48:10 PM
Some innovations/improvements to consider:
- Total anonymity Zerocoin
- Decentralized exchanges Open Transactions+Bit Message
- Compatibility with other currencies: Ripple
- Faster block rates -->Merged mining+5 Seconds Block rate?
- Putting all that hashing power to better use Folding@Home
- No block chain bloat -->Hyperprune?
- Total anonymity Zerocoin
- Decentralized exchanges Open Transactions+Bit Message
- Compatibility with other currencies: Ripple
- Faster block rates -->Merged mining+5 Seconds Block rate?
- Putting all that hashing power to better use Folding@Home
- No block chain bloat -->Hyperprune?
June 27, 2013, 02:47:58 PM
5. Staying keen and foolish
no suggestions yet
no suggestions yet
June 27, 2013, 02:47:47 PM
4. Infrastructure:
no suggestions yet
no suggestions yet
June 27, 2013, 02:47:40 PM
3. Feasibility:
no suggestions yet
no suggestions yet
June 27, 2013, 02:47:34 PM
2. Priorities:
no suggestions yet
no suggestions yet
June 27, 2013, 02:47:27 PM
All content of this post is up for discussion and should only be regarded as a suggestion
1. Principles
Security
Openness
Scalability
Equality
Liberty
Anonymity
Decentralization
Utility
Divisibility
Eternity
1. Principles
Security
Openness
Scalability
Equality
Liberty
Anonymity
Decentralization
Utility
Divisibility
Eternity
June 27, 2013, 02:47:09 PM
Bitcoin got alot of things right at the first attempt. Satoshi combined many loose ends in 2009, added his solution for the Double Spending-Problem and forged them into the great result we call "BTCitcoin".
However, there have been many innovations and improvements since that build on his work and further the project in many fields, like anonymity, utility or robustness against outside pressure.
I think it is time we discuss what the next step up on the evolutionary ladder of crypto currencies should look like.
After a few month of fruitful discussions we can start to put our scetches into practice by creating the infra structure to catapult this project into existence..
Although I estimate that public consensus will be that our newborn currency shall be open source and as free as possible, the foundations we build and tracks we lay take a long time after inception to be altered in any direction. As we see in Bitcoin or other chains, it takes a long time of discussion, policy making and development to mae onl small changes to the code base that alter features reflecting on the core characteristics of the project. With that lesson in mind we should make sure the direction is right from the beginning.
First things first:
1. Principles: In order to lay the foundation right, we need to decide what principles our use- and successful new currency shall follow.
2. Priorities: There often are trade offs in some things you want to accomplish in favour of other things that also demand their share of available ressources. So after we have drawn the list of principles we need to assign priorities to them to be clear of what we deem how important when ever we encounter such trade offs in practice.
3. Feasibility: There has to be a dialogue between what we want and what is feasible. So feasibility will be the next step to scrutinize as we go forward in devising our currency. Are there ways to accomplish what we have thought up in the steps above? Do they work properly yet or should we wait for better solutions before we attempt to incorporate them into our protocol?
4. Infrastructure: Building the infra structure to provide for developers and users to build and adopt the new currency with adequate pace is going to be the next step that needs to be taken care of before this project can florish. Space to discuss it can be here.
5. Staying keen and foolish is the last remaining part while our project is put into practice
Disclosure: Im not a programmer nor especially tech savvy. All I did was following developments in the Bitcoin space attentively over the past couple of years and this is what I came up with.
FAQ:
Are you Satoshi?
Maybe.
Dont you think this could all be knit into the Bitcoin protocol? Its an ongoing project after all.
Theoretically yes, but as recent and prior events have shown even small alterations to the code base take up alot of time and compromise. This will get worse with growing following and amount of stake holders. Bitcoin is basically doomed to follow it's initial trajectory the straighter the larger its following grows. Evolution goes on but Bitcoin cant keep up. We can speed up things alot if we take all new ideas and developments and start a new version of it.
Bitcoin is open source, why dont we just try to build those new things on top of Bitcoin instead?
Because it would work more efficiently, more secure and reliably if we wouldn't have to. A new protocol engineered with the features in mind that we want can be far more effective then trying to add components to the protocol that need lots of extra effort or maintainance.
How should we build infra structure?
This is up for discussion but a possibility would be to crowd fund a core development team that pulls through with a basic blue print that comes out of this discussion and that can easily be built on as new features/concepts come into reach. This steering committee should of course make transparent decisions and source its ideas from public discourse. While at the beginning, initial adoption is key to later success, some basic services like exchanges (if still necessary) or mining pools could be funded that way as well.
However, there have been many innovations and improvements since that build on his work and further the project in many fields, like anonymity, utility or robustness against outside pressure.
I think it is time we discuss what the next step up on the evolutionary ladder of crypto currencies should look like.
After a few month of fruitful discussions we can start to put our scetches into practice by creating the infra structure to catapult this project into existence..
Although I estimate that public consensus will be that our newborn currency shall be open source and as free as possible, the foundations we build and tracks we lay take a long time after inception to be altered in any direction. As we see in Bitcoin or other chains, it takes a long time of discussion, policy making and development to mae onl small changes to the code base that alter features reflecting on the core characteristics of the project. With that lesson in mind we should make sure the direction is right from the beginning.
First things first:
1. Principles: In order to lay the foundation right, we need to decide what principles our use- and successful new currency shall follow.
2. Priorities: There often are trade offs in some things you want to accomplish in favour of other things that also demand their share of available ressources. So after we have drawn the list of principles we need to assign priorities to them to be clear of what we deem how important when ever we encounter such trade offs in practice.
3. Feasibility: There has to be a dialogue between what we want and what is feasible. So feasibility will be the next step to scrutinize as we go forward in devising our currency. Are there ways to accomplish what we have thought up in the steps above? Do they work properly yet or should we wait for better solutions before we attempt to incorporate them into our protocol?
4. Infrastructure: Building the infra structure to provide for developers and users to build and adopt the new currency with adequate pace is going to be the next step that needs to be taken care of before this project can florish. Space to discuss it can be here.
5. Staying keen and foolish is the last remaining part while our project is put into practice
Disclosure: Im not a programmer nor especially tech savvy. All I did was following developments in the Bitcoin space attentively over the past couple of years and this is what I came up with.
FAQ:
Are you Satoshi?
Maybe.
Dont you think this could all be knit into the Bitcoin protocol? Its an ongoing project after all.
Theoretically yes, but as recent and prior events have shown even small alterations to the code base take up alot of time and compromise. This will get worse with growing following and amount of stake holders. Bitcoin is basically doomed to follow it's initial trajectory the straighter the larger its following grows. Evolution goes on but Bitcoin cant keep up. We can speed up things alot if we take all new ideas and developments and start a new version of it.
Bitcoin is open source, why dont we just try to build those new things on top of Bitcoin instead?
Because it would work more efficiently, more secure and reliably if we wouldn't have to. A new protocol engineered with the features in mind that we want can be far more effective then trying to add components to the protocol that need lots of extra effort or maintainance.
How should we build infra structure?
This is up for discussion but a possibility would be to crowd fund a core development team that pulls through with a basic blue print that comes out of this discussion and that can easily be built on as new features/concepts come into reach. This steering committee should of course make transparent decisions and source its ideas from public discourse. While at the beginning, initial adoption is key to later success, some basic services like exchanges (if still necessary) or mining pools could be funded that way as well.
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