Linkcoin - idea for new type of distributed coinage

ffe

sr. member

Activity: 308

Merit: 250

Quote from: TraderTimm on June 18, 2011, 02:54:37 PM

Quote from: ffe on June 18, 2011, 02:06:17 PM

I don't understand why anyone can't modify the data structure you're calling the "next block" to change the transactions to arbitrary ones he chooses. There is no "difficulty" to your process of block creation. One could go back an arbitrary number of blocks, modify a transaction, then recalculate the chained blocks going forward to the present and pass it around as the real block chain.

Any new idea must make it "difficult" to create a block.

You sir, don't understand 'forking' and the difficulty inherent to the process of establishing forged blocks. The resources are out there, even if you refuse to use them.

Sorry. I thought the difficulty currently is the sheer amount of hashing required to find hashes that are less than some value. What other difficulty are you talking about?

TraderTimm

legendary

Activity: 2408

Merit: 1121

Quote from: ffe on June 18, 2011, 02:06:17 PM

I don't understand why anyone can't modify the data structure you're calling the "next block" to change the transactions to arbitrary ones he chooses. There is no "difficulty" to your process of block creation. One could go back an arbitrary number of blocks, modify a transaction, then recalculate the chained blocks going forward to the present and pass it around as the real block chain.

Any new idea must make it "difficult" to create a block.

You sir, don't understand 'forking' and the difficulty inherent to the process of establishing forged blocks. The resources are out there, even if you refuse to use them.

ffe

sr. member

Activity: 308

Merit: 250

Quote from: ?? on ??

Quote from: ffe on June 18, 2011, 12:46:35 AM

The block chain is not secure. I could generate a fake one in minutes that you could not distinguish from the valid one.

"The most upvoted link/text in 10 minutes becomes the next block"
Do it!

I don't understand why anyone can't modify the data structure you're calling the "next block" to change the transactions to arbitrary ones he chooses. There is no "difficulty" to your process of block creation. One could go back an arbitrary number of blocks, modify a transaction, then recalculate the chained blocks going forward to the present and pass it around as the real block chain.

Any new idea must make it "difficult" to create a block.

ffe

sr. member

Activity: 308

Merit: 250

The block chain is not secure. I could generate a fake one in minutes that you could not distinguish from the valid one.

imperi

full member

Activity: 196

Merit: 101

Quote from: fascistmuffin on June 17, 2011, 11:22:58 PM

Then a similar hivemind could assume control? I think we have enough liberal, kitty loving, sensational reddits around already.

It also generates currency though and is more interesting than turning a computer on.

fascistmuffin

newbie

Activity: 56

Merit: 0

Then a similar hivemind could assume control? I think we have enough liberal, kitty loving, sensational reddits around already.

imperi

full member

Activity: 196

Merit: 101

I have this idea where instead of generating hashes, you send links and/or text to other nodes, similar to Reddit submissions. If you get good ones, you can "upvote" them and forward them to more nodes, maybe with a comment. The most upvoted link/text in 10 minutes becomes the next block, and coins are awarded to the original submitter who signed it with a private key and attached a public key. The coins can be traded similarly to Bitcoin. You can also go down the block chain to see all the best links ever.

This could also have an updated client that displays the text and links inline. So you can hit "next" to see the next one sent to you, and so forth, and different quality filters or sorters.

Thoughts? I only came up with the idea 30 minutes ago so don't hate on me too much. Tongue

Topic: Linkcoin - idea for new type of distributed coinage (Read 1921 times)