The ultra-stable price-validated adaptive cryptocurrency: qbit³

don giovanni

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Quote from: Snowfire on April 21, 2013, 07:41:00 PM

If the majority of the speculators who drive the price are not miners (which I believe to be the case, especially during bubble conditions,) how is jiggering with the mining parameters going to influence their perception of anything? I have trouble making sense of this.

Its an issue of supply vs demand, we already have a network that fluxuates with the market, all we need is a supply that fluxuates with the network.

Price goes up -> Hashpower goes up -> Mint rate goes up -> price stabilizes with influx of new currency.

Price goes down -> Hashpower goes down -> Mint rate drops -> price stabilizes above cost-floor.

Snowfire

full member

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If the majority of the speculators who drive the price are not miners (which I believe to be the case, especially during bubble conditions,) how is jiggering with the mining parameters going to influence their perception of anything? I have trouble making sense of this.

don giovanni

member

Activity: 80

Merit: 10

Quote from: BubbleBoy on April 21, 2013, 04:58:06 AM

So you are trying to build a table of peer IPs and geolocate them to their local electricity price ? You should really read Douceur's sybil attack paper and let it sink in for a few days, then take another stab at this.

Ascertaining the densest geographical location of nodes was an example that could be used to determine the typical electric prices of miners that would be then used to determine what the average base cost is of mining for each node in the network; this was used to demonstrate how the block reward should scale, but isnt used in the scaling algorithm. The only reason to use this formula in protocol would be for getting a figurative idea of what the price would be used if one wanted a decentralized way to ascertain a % fee.

BubbleBoy

sr. member

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So you are trying to build a table of peer IPs and geolocate them to their local electricity price ? You should really read Douceur's sybil attack paper and let it sink in for a few days, then take another stab at this.

don giovanni

member

Activity: 80

Merit: 10

Quote from: Joerii on April 19, 2013, 08:06:35 PM

Interesting concept, well writen paper.

One thing I'm very sceptical about is relying on data from an exchanger, though. It's a big vulnurability.

True, but if you are referring to the network hashrate this can be gleaned clientside.

Joerii

legendary

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Interesting concept, well writen paper.

One thing I'm very sceptical about is relying on data from an exchanger, though. It's a big vulnurability.

jmfg187

member

Activity: 84

Merit: 10

Cool concept, I would happily throw my miners at this coin!

Cheshyr

full member

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I like some of these ideas.

chriswen

hero member

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if you don't use adobe to read pdf's i don't think you can get viruses or malware from pdfs.

don giovanni

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Activity: 80

Merit: 10

Post updated to reflect position.

jmfg187

member

Activity: 84

Merit: 10

I will read this with my Mountain Dew in the morning, let you know what I think after that!

Limie

member

Activity: 70

Merit: 10

I love the idea despite the invalid accusations that its come out already.. Actually READ the paper people and see its not the same. When does it start?

Limie

member

Activity: 70

Merit: 10

Quote from: w1R903 on April 17, 2013, 04:09:29 PM

Quote from: don giovanni on April 17, 2013, 04:01:46 PM

Sorry, turns out the bitcoin based file host i used didnt like people using it for free, lets try again...

Why pdf? Can you please post a text file, or a LaTex file if formatting is an issue? A lot of us are very wary of scripted malware in pdfs taking our Bitcoins.

Its 2013, people should be able to read pdf files by now Grin

don giovanni

member

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Link has been updated to a private host.

w1R903

full member

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Quote from: don giovanni on April 17, 2013, 04:01:46 PM

Sorry, turns out the bitcoin based file host i used didnt like people using it for free, lets try again...

Why pdf? Can you please post a text file, or a LaTex file if formatting is an issue? A lot of us are very wary of scripted malware in pdfs taking our Bitcoins.

maxmint

hero member

Activity: 700

Merit: 500