Topic: Transparent mining 3, or What way to choose - page 6. (Read 8492 times)
Interested.
Below u'll find the 3rd part of Transparent Mining essay, the 1st and 2nd parts r available here - https://bitcointalksearch.org/topic/transparent-mining-or-what-makes-nxt-a-2nd-generation-currency-364218 and https://bitcointalksearch.org/topic/transparent-mining-2-or-what-part-of-legacy-should-be-left-behind-458036. The essay is based on text written by BCNext, I paraphrase it in my own words to protect BCNext's real identity against text style analysis (as was agreed).
Bitcoin was a genious invention but implementation became corrupted by people whose aim was to make money, not bitcoins but dollars. BCNext was working on a project that required special conditions for its existence, he hoped that Bitcoin would change the society and prepare ground for the project. Half a year ago it became crystal clear for him that Bitcoin, as an idea of trustless money, had failed. A fix was required and it came in the form of Transparent Mining. "Transparent" is the key word here, it changes focus from "trust no one" to "don't let to cheat", because any cheating becomes obvious very soon (as soon as allowed by network latency). Nxt is just a work-around, it was launched to win more time and to conduct an experiment that was supposed to show if the society is ready for the main project of BCNext. He thinks that society can't be completely decentralized, and Nxt will let to measure level of decentralization after which a society can't function as a whole. Bitcoin relies only on math, but math can't solve problems arising because of illogical nature of the man. Mining in Nxt relies on cooperation of people and even forces it. Without cooperation Nxt becomes weak and can be easily attacked. It's like a system in unstable equilibrium, if people stop to care about cooperation then Nxt will fail very fast.
Now, when you know why Nxt was created your should choose what way to follow. The easiest one is to repeat the history of Bitcoin in hope that something will change. The alternative is to implement Transparent Mining and try to handle people imperfection. The latter can't be done with pure math and even if you manage to find some laws you can't be sure that these laws won't change in the future. BCNext went for good, he doesn't feel himself responsible for the future of Nxt, he implemented an idea that was obvious but noone tried to do it (maybe because creation of a Bitcoin clone was much easier). One day he will come back with his main project under his real name. Don't try to find real identity of BCNext, he intentionally copied style and ideas of different people, if you think you found him then you are likely wrong. BCNext has never existed, this sockpuppet was created only for Nxt and will never appear again.
The plan always was very simple - to show the way that very obvious but avoided for some reason. BCNext doesn't pretend that he possesses sacral knowledge and knows what is awaiting in the end. You are left on your own. Good luck.
Bitcoin was a genious invention but implementation became corrupted by people whose aim was to make money, not bitcoins but dollars. BCNext was working on a project that required special conditions for its existence, he hoped that Bitcoin would change the society and prepare ground for the project. Half a year ago it became crystal clear for him that Bitcoin, as an idea of trustless money, had failed. A fix was required and it came in the form of Transparent Mining. "Transparent" is the key word here, it changes focus from "trust no one" to "don't let to cheat", because any cheating becomes obvious very soon (as soon as allowed by network latency). Nxt is just a work-around, it was launched to win more time and to conduct an experiment that was supposed to show if the society is ready for the main project of BCNext. He thinks that society can't be completely decentralized, and Nxt will let to measure level of decentralization after which a society can't function as a whole. Bitcoin relies only on math, but math can't solve problems arising because of illogical nature of the man. Mining in Nxt relies on cooperation of people and even forces it. Without cooperation Nxt becomes weak and can be easily attacked. It's like a system in unstable equilibrium, if people stop to care about cooperation then Nxt will fail very fast.
Now, when you know why Nxt was created your should choose what way to follow. The easiest one is to repeat the history of Bitcoin in hope that something will change. The alternative is to implement Transparent Mining and try to handle people imperfection. The latter can't be done with pure math and even if you manage to find some laws you can't be sure that these laws won't change in the future. BCNext went for good, he doesn't feel himself responsible for the future of Nxt, he implemented an idea that was obvious but noone tried to do it (maybe because creation of a Bitcoin clone was much easier). One day he will come back with his main project under his real name. Don't try to find real identity of BCNext, he intentionally copied style and ideas of different people, if you think you found him then you are likely wrong. BCNext has never existed, this sockpuppet was created only for Nxt and will never appear again.
The plan always was very simple - to show the way that very obvious but avoided for some reason. BCNext doesn't pretend that he possesses sacral knowledge and knows what is awaiting in the end. You are left on your own. Good luck.
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