@iKnow0 I have an additional proposal for the verification process.
So once we have the age thing agreed (My vote is a simple 18 across the board)
Steps as follows.
Asset issuer get's verified.
Asset issuer puts up a Pre-Announce thread. (Guidelines to be issued)
Forum members / potential Investors have a Week to ask questions etc.
Voting is opened for one Week to decide if Asset will be accepted.
To be eligible to vote you need to have Reputation of 300 Plus.
Asset is accepted if there is a net positive of 5 votes which must in include a positive from haitch.
If Asset get's the vote Announcement thread and Asset ID are put up. If the Asset fails, further attempts may be made.
I love the article because it states all the reasons why I am supporting this coin as much as I can:
"Even ignoring questions of waste, power-intensive mining has inarguably also led to geographic concentrations of the industry. Because miners receive the greatest returns where energy is cheaper, areas like Iceland, western China and Washington State have become the dominant epicenters."
You can buy HDDs and USB sticks everywhere in every town in the world.
"The search for a system that would encourage the opposite of these qualities – generic equipment, non-wasteful work and low power consumption."
"Under a proof-of-space system, miners allocate a certain amount of their unused disk space to the network, with the probability of successfully mining a block being proportional to the amount of space allocated divided by the total capacity of the network."
"To briefly summarize, miners add new transactions into a block by combining them with values from a lookup of data stored in a space they have allocated for mining."
"One notable consequence of using storage as a proof, is that it could democratize the mining process."
"Another upshot of proof of space is that there is no incentive for any actors to try and gain mining share by spending large sums on storage space up front."
This is 100% Burstcoin.
"This creates an inherent attack where someone with a large amount of resources can re-mine since genesis – go back to the beginning and make a whole new chain, giving themselves all the rewards."
"In order to prevent this, Cohen's idea is to use proof of time in combination with proof of space, specifically, proofs derived from a dedicated time server on which some time will elapse in between each period of mining."
Here he disqualifies himself imo or I don't get the point. You can't go back to genesis with a lot of space and mine everything to be up to date to the other chain. Burstcoin has a 4 minute block time and uses every miner as a time server. This is exactly what Burst is doing - so we are also Proof of time. lol.
@Lexicon Instead him coming here to improve the algo, he wants his own more complex solution with his name tag on it and maybe a nice bag of coins as an early adopter.
Burstcoin seems to stay the underdog coin for the crypto people for some more time. (Gpu)Miners don't want it, ASIC industry doesn't want it and some famous people in crypto space dismiss it without even scratching the surface.
I wouldn't point the finger at Haitch either, crypto is supposed to be the wild west where everything goes..BUT because the kids are say under 17 or 18, maybe in future we should just now that asset is provided by a minor, not yet of legal age and let the investor do his/her due diligence. I have seen many budding entrepreneurs starting very young BUT handing over money to a younger person MIGHT seem a tad bit more risky, but on the other hand I got ripped off by OLDER DEVS lol hard and fast so even age I think doesn't come into it as much as human decency and integrity..I know kids who are 16 and 17 and have a better brain hinged on them than 50 year olds.. Just yeah maybe if they arr minors in age, we should just know about it in advance..that's my 2 bursts on that..
The ever growing asset eco-system that BURST has will ensure that transactions will continue for decades or centuries I hope. Also I see that in the last time more people are trying to sell things on the burst forums marketplace which is very good for the burst economy. Overall I see a very bright future for this coin and community!