RE: Where is the Trust in Proof of Brain mining?
Giving you a full upvote for having an important discussion.
You know, the type of crypto that can be trusted no matter who or what is currently minding the ledger.
IMO, DPOS is more decentralized than most POW coins, including Bitcoin. Only a handful of mining farms control consensus with their hashing power and I watched the marketshare go from 80%+ down to 35% between 2014 to 2017. I bought my first BTC for $50 in January of 2013 (and I got 2.5 BTC). POW doesn't have onchain governance and it needs it.
The DPOS block production mechanism is separate from the users and investors themselves who vote up shit content or extract value instead of creating it. Please, give that a video a watch and let me know what you think.
We're dealing with human problems here which are made worse by bad economic systems which reward behavior that hurts the collaborative commons.
I like your "counterfeit" analogy, but I don't think it's just about human vs. bot. I used Steemvoter to vote up authors automatically that I want to support because, as a human, I'm making that choice with my stake. That's still my proof of brain. I see vote bots as just another form of self-voting which I talked about in detail here. It's a problem. We need to fix it. It's combination of downvoting more content and changing the economic system.
Witnesses alone can't do much. We need consensus from the community on exactly what changes should be made and then we need to get developers involved to make them.
Appreciate your input into the discussion, Luke. Will check out those couple of links before throwing out some ideas to help put trust back into Proof of Brain for caring investors.9
Maybe it was being a child of the cold war and witnessing how the threat of mutual annihilation got us through that October of 1962 which gives me confidence a 51% attack is to nobody's interest.
Hammock time well spent! 😎
Not much to disagree with on your video renarks. Small details to be discussed, perhaps, on our road to true Proof of Brain coins.
My feeling is that a CAPCHA scheme of some sort needs to be employed to, at least, give those who choose to use it more power to their upvotes. This is suggested while fully aware that other approaches may exist to deal with counterfeitting. Could there finally be a practical use for karma points? 😃
CAPCHA and blockchains don't really work well together, but it's an interesting idea.
Check the news lately for how many chains have been 51% attacked. And those are just the ones that made the news. It happens all the time, more so than most coin projects are willing to admit.
My funniest shit coin story was when a Buddy of mine kept a network running (BBQ if memory serves) for a while by having two mining machines talking to each other in a room upstairs. He made a shit load the next year when noobs thought them a great buy. 😎
Heh. Way too many shit coins and way too much speculation. Eventually we'll have our dot com bubble moment and figure out which projects are the real deal. As far as EOS is concerned, investors have already spoken.