POW chain that mints coins only by the difference in difficulty increasing

MoneyBomber

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Quote from: Tytanowy Janusz on December 21, 2022, 03:22:54 AM

why would a super intelligence manipulate your DAO?

Because it is possible to create A.I.s with a will to live. A.I.s that seek to persist their existence. There will be more than one of these. Multiple entities with a will to live means there will be an economy that emerges if one is not already present. I guess we could theorize they would all merge eventually. That's another story.

Quote from: Tytanowy Janusz on December 21, 2022, 03:22:54 AM

It has fixed rewards (50k new coins daily). So there is always inflation but the rate of inflation (percentage) is going down over time. Its not POW, its Proof of Person.

I'm interested in inflation that has a direct relationship to energy being put into layer one. Not just any inflation. Not just any protocol.

This DAO is my attempt at a scaling solution. A DAO to govern real world space. Within that space we install cloud services, all under the eyes of this DAO 24/7. If layer 1 is decentralized, and if the DAO has a clever way of staying fairly distributed, then we can effectively say that this layer 2 is decentralized as well.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: MoneyBomber on December 20, 2022, 01:43:21 PM

I'm worried about their disproportionate ability to influence DAOs.
Humans wont be the only actors in the economy. So will A.I.. And A.I. wont have an ex-wife to take half of their money. An A.I. wont lose respect for money through generations.

------ Edit ------

Imagine we call it "proof-of-work" selling the dream that you'll never have to work again

AI is just a tool used by human. So if human is getting divorce, wife will take half of money earned by ... AI in this case. Unless you are talking about full consciousness AI. If so, then answer my question... why would a super intelligence manipulate your DAO? What are the benefits for a being who can have everything and needs nothing at the same time? We are just a peace of walking meat.

Check IDENA. It might be interesting for you. Its very small project. It has fixed rewards (50k new coins daily). So there is always inflation but the rate of inflation (percentage) is going down over time. Its not POW, its Proof of Person. Sybil resistance achieved via touring test.
https://coinmarketcap.com/currencies/idena/

MoneyBomber

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Activity: 105

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Quote from: Tytanowy Janusz on December 20, 2022, 01:19:20 PM

Quote from: MoneyBomber on December 20, 2022, 12:56:03 PM

1000 years from now there will be a very harsh class distinction between those whose family's were "lucky" enough to invest in bitcoin, and then peons that fight for for smidgens. It's the peons that will be contributing to the economy with real goods and services. while a few lucky lottery winners contribute nothing to the economy.

Yep those 10 uber reach people will definetly be a big thing for other 10B. For sure 10B people will be poor only becuase 10 people have zillion $ worth of bitcoin. We should do everything we can to stop them from being rich. We all have to be equilly poor.
You have to read about all those rich families over last 2 millenia. Which of them are rich now? there is no amount of wealth that will last more than 10 generations. Your son will have 4 kids, 2 wifes. Ex wife will take half rest will be split by 4 for each son. Add a factor of 10 into calculation (or 30 for 1000 years). Each new generation will have less respect for money untill its all gone. I'm not worried that after 1000 years the successors of the current btc buyers will be too rich. In fact in 1000 years most of this wealth will be lost (by not storing private key well enought).

And inflation does not make things equal. We don't have equallity now. We have poor people, we have uber rich people.

I'm worried about their disproportionate ability to influence DAOs.
Humans wont be the only actors in the economy. So will A.I.. And A.I. wont have an ex-wife to take half of their money. An A.I. wont lose respect for money through generations.

------ Edit ------

Imagine we call it "proof-of-work" selling the dream that you'll never have to work again

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: MoneyBomber on December 20, 2022, 12:56:03 PM

1000 years from now there will be a very harsh class distinction between those whose family's were "lucky" enough to invest in bitcoin, and then peons that fight for for smidgens. It's the peons that will be contributing to the economy with real goods and services. while a few lucky lottery winners contribute nothing to the economy.

Yep those 10 uber reach people will definetly be a big thing for other 10B. For sure 10B people will be poor only becuase 10 people have zillion $ worth of bitcoin. We should do everything we can to stop them from being rich. We all have to be equilly poor.
You have to read about all those rich families over last 2 millenia. Which of them are rich now? there is no amount of wealth that will last more than 10 generations. Your son will have 4 kids, 2 wifes. Ex wife will take half rest will be split by 4 for each son. Add a factor of 10 into calculation (or 30 for 1000 years). Each new generation will have less respect for money untill its all gone. I'm not worried that after 1000 years the successors of the current btc buyers will be too rich. In fact in 1000 years most of this wealth will be lost (by not storing private key well enought).

And inflation does not make things equal. We don't have equallity now. We have poor people, we have uber rich people.

MoneyBomber

jr. member

Activity: 105

Merit: 6

Quote from: Tytanowy Janusz on December 20, 2022, 03:53:03 AM

@MoneyBomber
Why you care about "fairness" of token distribution across old and new users if you aim to build on POW.

Because it's related to my DAO's layer 2 solution. Anchoring layer 1 to the real world with fair governance protocols.
I aim to decentralize more than just the money layer. Hopefully we can "decentralize" real world spaces as well.

Quote from: Tytanowy Janusz on December 20, 2022, 03:53:03 AM

Inflation is not good for us. Stealing from savers is not good, and it is crazy that we even talk about it.

1000 years from now there will be a very harsh class distinction between those whose family's were "lucky" enough to invest in bitcoin, and then peons that fight for for smidgens. It's the peons that will be contributing to the economy with real goods and services. while a few lucky lottery winners contribute nothing to the economy.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

@MoneyBomber
Why you care about "fairness" of token distribution across old and new users if you aim to build on POW. In POW amount of tokens you have gives you zero privilige over person with 0 coins because your vote depends on mining power you put in network. the amount of coins you have gives you nothing more than an ability to spend it and its not something that should be limited/forced.

Inflation is not good for us. Stealing from savers is not good, and it is crazy that we even talk about it. We were told this because the current financial system is a pyramid scheme that will collapse if not 3% inflation (there is more debt than money in circulation so its impossible to pay it all without creating new debt).

MoneyBomber

jr. member

Activity: 105

Merit: 6

I'm thinking about a proof of work chain where coin is minted only by the difference in the increase of difficulty.

inflationary, yes. but only if difficulty increases.
Inflation is important to me because I think about fairness. Fairness of DAOs
When it's easy to lock coins in a smart contract for hundreds or 1000s of years, we can't rely on the "human element' to sell those coins on the market.
There's a difference in increase, but then also a difference in increase or decrease.
Including decrease would incentivize more to contribute to the network if significant amounts of the contributors were "killed" off.
I'm learning that hash rate and difficulty are not linearly correlated. Which one represent energy put towards the system?
I'm asking all of this because I have a DAO protocol that I believe is very strong for layer 2. but only if layer 1 is inflationary.
I believe that perfecting decentralization of the network requires perpetual growth. That eventually means going beyond this planet.
I really like Ethereum classic. but it's max supply monetary policy is not ideal for decentralization of DAOs.

Topic: POW chain that mints coins only by the difference in difficulty increasing (Read 103 times)