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- -----BEGIN PGP SIGNED MESSAGE-----
- Hash: SHA1
- A call for an early adopters
- A new cryptographic block chain will be established soon. Not a spin off of
- a Bitcoin code base, a new thing.
- This effort attempts to fix a certain fundamental, yet unwanted properties of
- the Bitcoin design,
- that are considered by me, and some others, to be the major flaws of the system
- that may, in future, lead to its eventual demise.
- In particular:
- * Pre-mined by Satoshi Nakamoto and others. I am announcing this block chain
- well in advance, so that everyone can prepare their mining rigs, and have
- an equal chance. Only the genesis block will be pre-mined. (by me). This also
- answers the pump and dump question. We've had the opportunity to observe the
- Bitcoin system for a 5 years, so there will not be many people skeptical about
- this part.
- * 51% attack, is an impossible to solve. That's why we will attempt doing so.
- * Slow confirmations. Our block chain will surpass all current block chains
- in a typical transaction double-spend confirmation speed.
- * Heavy disk usage.
- We will be light on resources.
- * The developers of Bitcoin are the weak spot. I, the original author of our
- system, remain pseudonymous.
- * Resistant to regulation.
- In particular, we refuse to discuss with so called representatives of people,
- where the people, who supposedly voted for them, refuse to pay them taxes.
- Secondly, people make their own choices. If they want to kill, destroy the
- environment, blast the planet with nukes, who's there to stop them, right? This
- applies both to people in power and to common citizens. Anybody can be evil,
- it's easy, and quick. Being good is an everyone's personal fight, for it's hard
- to make good decisions quickly.
- * Irreversible. We will allow optional reversible transactions. The sender
- has the choice. Reversible, up to 4 times. Enables independent escrows for each transaction.
- * Mining wastes power. Our way of mining will be beneficial.
- * Block rewards drops to zero. I will adjust the block rewards to keep just
- enough parties to avoid the 51% attack. Coupled with prolonged block decay.
- This paragraph is subject to change.
- * Hoarding. A shortened block decay solves this, encourages spending as well.
- * Bitcoin's number of transactional units are bounded. Our transactional numeric
- units are theoretically unbounded, limited only by the mining rate. (see above).
- * The mining difficulty. (see above).
- * No rewards for network nodes. We will reward those parties running the
- official client and having a good latency/bandwidth. This will allow users to
- "fishing the network" as opposed to "mining the blocks". The sampling will be
- done on random. There will be a fund for this exact purpose, created from the
- genesis block, where anyone will be able to contribute. However, when the fund
- is depleted, I will most likely discontinue this.
- This software shall not have a name, for it is not a product, not a pump
- and dump scheme, not a scam. I hope you understand.
- All these things currently are, but will not stay to be simply my claims.
- I will prove it with a math, later.
- However, I am simply a human, so feel free to expect some bugs.
- I don't hate the Bitcoin developers or project. I invite them to stop by and participate. The Bitcoin and our network will coexist in a peaceful manner.
- Competing for survival in a dangerous, challenging environment, full of fast
- prime factorization algorithms, and a state of the art sha preimage cracks.
- TL;DR: New block chain, tell everyone, prepare your machine, check back a month
- later, op is straight, the game.
- and it will be FOSS of course.
- haxied
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