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Topic: Which altcoins are most attractive to people not in crypto before? - page 2. (Read 1395 times)

legendary
Activity: 1092
Merit: 1000
But it relies on centralization of the proof of BOINC and proof-of-stake, which thus guarantees it won't scale to anything significant, as vested interests will strangle it.

...

Btw, proof-of-stake will never scale out user adoption, because it is a vested interest paradigm, and thus will be destroyed by its stake holders. No stake holder (in any context or business model) allows a competitor to profit. Only permissionless, decentralized systems scale.

It will perhaps be good for a P&D, because so many fools believe technological nonsense because they don't understand.



Really, and yet investing money into a PoW coin that relies completing on ASICS that are already centralized and will be even more so at the next halfing is ok?  Huh

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fools believe technological nonsense
By this conclusion, 99% should Not be investing in BTC either.   Wink

 Cool


FYI:
Quote
Nash equilibrium security
Game theorists use the Nash equilibrium concept to analyze the outcome of the strategic interaction of several decision makers. In other words, it provides a way of predicting what will happen if several people or several institutions are making decisions at the same time, and if the outcome depends on the decisions of the others. The simple insight underlying John Nash's idea is that one cannot predict the result of the choices of multiple decision makers if one analyzes those decisions in isolation. Instead, one must ask what each player would do, taking into account the decision-making of the others.

IMO, Nash equilibrium theory is not that accurate .

I would say the larger the group of people or institutions , the easier it is to predict the outcome.
Kind of what the whole field of Sociology is about.
Sociology is the study of social behavior or society, including its origins, development, organization, networks, and institutions. It is a social science that uses various methods of empirical investigation and critical analysis to develop a body of knowledge about social order, disorder, and change.
Knowing that the majority always choose what is in their individual best interests , would help accurately predict the outcome.

(Individuals are always the wild card and unpredictable , because of their individual & background motivations, so they may not always choose what would be in their best interest.)  

Isaac Asimov Foundation series basically showed how a whole Universe could be controlled using Sociology.

Plus I will tell you Nash's Original Idea , is not Original , it is very Old,
because it is really nothing more than Simple Collusion.
legendary
Activity: 2100
Merit: 1167
MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
Grid coin just copied cure coin really. Cure coin was okay but they were just very slow to improve upon the way it worked. However lately it has started developing again.

Any alt coin that becomes very profitable in a BIG way will attract people not in crypto. If people hear they can make $ they will be attracted.

Some just love the idea like you say.

sr. member
Activity: 420
Merit: 262
I do not see a problem with proof-of-stake really, could you explain further?

...

...rely on the centralization of proof-of-stake which destroys the Nash equilibrium security in a power vacuum winner-take-all political economics...
full member
Activity: 131
Merit: 100
I do not see a problem with proof-of-stake really, could you explain further?

I also do not believe that it will be P&D, the good thing is that the miners do it mostly because of science anyway and have no background in the traditional crypto pump&dump.
sr. member
Activity: 420
Merit: 262
But it relies on centralization of the proof of BOINC and proof-of-stake, which thus guarantees it won't scale to anything significant, as vested interests will strangle it.

...

Btw, proof-of-stake will never scale out user adoption, because it is a vested interest paradigm, and thus will be destroyed by its stake holders. No stake holder (in any context or business model) allows a competitor to profit. Only permissionless, decentralized systems scale.

It will perhaps be good for a P&D, because so many fools believe technological nonsense because they don't understand.

full member
Activity: 131
Merit: 100
Already much more upvotes Smiley

 The good thing is that the idea behind Gridcoin is actually that good and that easy to understand, that you do not really have to sell it, just explain the idea behind it.
legendary
Activity: 1260
Merit: 1001
Damn, almost 1000 upvotes! That was one kick-ass post Spassbold!
full member
Activity: 131
Merit: 100
I think it is Gridcoin, the idea of mining by doing research is easy to understand and it is at once obvious why it makes sense.

See for example this thread on reddit right now: https://www.reddit.com/r/Futurology/comments/4b4drk/a_currency_minted_by_doing_science/
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