Bitcoin open source implementation of P2P currency - P2P Foundation2024-03-29T11:30:31Zhttp://p2pfoundation.ning.com/forum/topics/bitcoin-open-source?x=1&%3Bamp%3Bid=2003008%3ATopic%3A9402&%3Bamp%3Bpage=2&%3Bfeed=yes&%3Bxn_auth=no&feed=yes&xn_auth=noThis is a good system. After…tag:p2pfoundation.ning.com,2022-10-28:2003008:Comment:1742872022-10-28T02:24:58.807ZGreg Matthewshttp://p2pfoundation.ning.com/profile/GregMatthews
<p>This is a good system. After having had time to study its implementation, I have found the main flaw to be the lack of a funding mechanism to support network infrastructure and operation costs.</p>
<p><br/>This can be cured by adding a proof of stake layer to reward network supporters.</p>
<p><br/>Miners are too busy trying to compete for profit that they have no incentive or time to maintain the integrity of the network and fund continued research and development.</p>
<p>This is a good system. After having had time to study its implementation, I have found the main flaw to be the lack of a funding mechanism to support network infrastructure and operation costs.</p>
<p><br/>This can be cured by adding a proof of stake layer to reward network supporters.</p>
<p><br/>Miners are too busy trying to compete for profit that they have no incentive or time to maintain the integrity of the network and fund continued research and development.</p> This won't work because it wo…tag:p2pfoundation.ning.com,2022-10-28:2003008:Comment:1742852022-10-28T01:43:35.513ZGreg Matthewshttp://p2pfoundation.ning.com/profile/GregMatthews
<p>This won't work because it would incentivize malicious users to spin up node farms in order to artificially bump inflation rate.<br/><br/>A secondary approach might be to back off the diff adjustment since hashrate activity is tied to market price. Reduce the back pressure and allow inflation to heighten while imposing less difficulty.<br/><br/>The problem with the secondary approach is, we don't have an accurate way of predicting ASIC advancement.</p>
<p>This won't work because it would incentivize malicious users to spin up node farms in order to artificially bump inflation rate.<br/><br/>A secondary approach might be to back off the diff adjustment since hashrate activity is tied to market price. Reduce the back pressure and allow inflation to heighten while imposing less difficulty.<br/><br/>The problem with the secondary approach is, we don't have an accurate way of predicting ASIC advancement.</p> After 13 years, the mysteriou…tag:p2pfoundation.ning.com,2022-02-06:2003008:Comment:1707242022-02-06T12:40:11.023ZBayram Can Şahinhttp://p2pfoundation.ning.com/profile/bayramcansahin77
<p>After 13 years, the mysterious man has spoken (:</p>
<p>After 13 years, the mysterious man has spoken (:</p> People and forums interested…tag:p2pfoundation.ning.com,2021-12-28:2003008:Comment:1699752021-12-28T16:37:09.320ZKevin Parcellhttp://p2pfoundation.ning.com/profile/KevinParcell
<p>People and forums interested in helping people do not delete polite comments that offer thoughtful criticism, as we see done here. Goodbye.</p>
<p>People and forums interested in helping people do not delete polite comments that offer thoughtful criticism, as we see done here. Goodbye.</p> After 13 years of decentraliz…tag:p2pfoundation.ning.com,2021-12-24:2003008:Comment:1696342021-12-24T12:28:59.998ZSatoshi Nakamotohttp://p2pfoundation.ning.com/profile/SatoshiNakamoto
<p><span>After 13 years of decentralized payment systems evolution we came where we are now, the NFT epoch. You may find NFT of this post here: <a href="https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/97688571117757237101471153596397975393718267124320450797737993862480318693377" target="_blank">https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/97688571117757237101471153596397975393718267124320450797737993862480318693377</a></span></p>
<p><span>After 13 years of decentralized payment systems evolution we came where we are now, the NFT epoch. You may find NFT of this post here: <a href="https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/97688571117757237101471153596397975393718267124320450797737993862480318693377" target="_blank">https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/97688571117757237101471153596397975393718267124320450797737993862480318693377</a></span></p> Someone gained access to his…tag:p2pfoundation.ning.com,2014-09-13:2003008:Comment:551922014-09-13T12:45:26.841ZAlexx Saverhttp://p2pfoundation.ning.com/profile/lzsaver
<p>Someone gained access to his email. Beware of identity theft.</p>
<p></p>
<p><a href="https://bitcointalk.org/index.php?topic=775174.0" target="_blank">Source.</a></p>
<p>Someone gained access to his email. Beware of identity theft.</p>
<p></p>
<p><a href="https://bitcointalk.org/index.php?topic=775174.0" target="_blank">Source.</a></p> Mucho gusto. Also good point…tag:p2pfoundation.ning.com,2014-09-10:2003008:Comment:552952014-09-10T14:21:44.385ZKevin Parcellhttp://p2pfoundation.ning.com/profile/KevinParcell
<p>Mucho gusto. Also good point, imho, regarding the design of bitcoin.</p>
<p></p>
<p>Mucho gusto. Also good point, imho, regarding the design of bitcoin.</p>
<p></p> Thank you for your reply.tag:p2pfoundation.ning.com,2014-09-10:2003008:Comment:552942014-09-10T14:15:40.299ZRuss Nelsonhttp://p2pfoundation.ning.com/profile/RussNelson
<p>Thank you for your reply.</p>
<p>Thank you for your reply.</p> Might just be a forum hack to…tag:p2pfoundation.ning.com,2014-09-09:2003008:Comment:540112014-09-09T01:43:52.212ZTravis Boydhttp://p2pfoundation.ning.com/profile/TravisBoyd
<p>Might just be a forum hack to try and swing the market. Better take precautions though. Thanks for the breath of freedom, Satoshi.</p>
<p>Might just be a forum hack to try and swing the market. Better take precautions though. Thanks for the breath of freedom, Satoshi.</p> Russ, you're not understandin…tag:p2pfoundation.ning.com,2014-09-08:2003008:Comment:551732014-09-08T22:53:23.211ZKevin Parcellhttp://p2pfoundation.ning.com/profile/KevinParcell
<p>Russ, you're not understanding the point, which regards a unit of account -- the metric that provides the stability necessary to make something useful as currency rather than "subject to the madness of the crowds". This is necessary to qualify an instrument as a global reserve currency. Moreover, the crisis today is inequitable distribution of real wealth, which is not a result of central creation of money and thus decentralizing creation won't produce equitable distribution, regardless of…</p>
<p>Russ, you're not understanding the point, which regards a unit of account -- the metric that provides the stability necessary to make something useful as currency rather than "subject to the madness of the crowds". This is necessary to qualify an instrument as a global reserve currency. Moreover, the crisis today is inequitable distribution of real wealth, which is not a result of central creation of money and thus decentralizing creation won't produce equitable distribution, regardless of the speed of transactions. </p>