RE: Brainstorming How to Calm the “Proof of Brain Storm” (Part 2 -- Complex Version)
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Interesting idea, what value does the sellable token have?
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Interesting idea, what value does the sellable token have?
Same as BTC or BCH or BSV. The advantage over BTC and the BTC derivatives would be that literally ANYONE can earn it, by posting valuable content and being rewarded for it; rather than all the new tokens going to miners who have to invest in expensive equipment to participate in the token's inflation.
BTC investors don't care about the fact that miners earn the inflation tokens. And if Satoshi had 'required' BTC holders actively participate in mining (rather than separating the 'investment' function from the 'mining' function), very few "investor" types would have ever jumped on board, imho.
Also, the advantage over those is 3-second block validation (vs. 10-minute) coupled with zero transaction fees.
A HUGE advantage of proof-of-brain distribution is that it is open to the masses. Another huge advantage is that, because it is open to the masses, it naturally leads to mass adoption -- the network effect is what will ultimately allow HIVE or one of the tokens on the Hive blockchain to overtake BTC and the BTC derivatives (in terms of adoption and usage, not necessarily in terms of market cap).
BTC is being pumped by institutional investors. HIVE (or the alternative I am proposing) will predominantly be 'pumped' by everyday people. The alternative I am proposing allows for both/and -- investors PLUS everyday people.
That makes sense thanks for that, does it lose value ( or utility is guess) if it cannot generate more POB via curating or staking to other people
No one can reliably answer that question in advance. I look at BTC, BCH, BSV and others like those and say, apparently not.
Granted, those coins are viewed as 'fully decentralized' (even though they technically are not, due to the vast amounts of hashing power residing within a relatively few number of mining pools) and POB is not (yet) decentralized.
However, I believe POB can (and will) eventually be decentralized. If the decentralization mechanism is similar to Hive Layer 1, then that would make an exchangeable-only version of POB (e.g. "POBx") (bifurcated from the PoS and PoB functions, but still dependent upon the PoB/PoS token for the distribution of new POBx) the closest thing ever to Satoshi's original vision of A Peer-to-Peer Electronic Cash System, imho.
However, I believe that the hive-engine tokens are not immutable, I mean, the token owner can theoretically issue new tokens if he wishes, in btc/hive this is totally impossible, as it depends on the consensus of all miners to make a change in the network.
Currently, yes. I believe the ultimate plan is to decentralize Hive-Engine or to at least enable robust decentralization of the tokens operating thereon.
Is that correct, @aggroed?
If they manage to decentralize the issuance of the tokens, then it would be really reliable.
Yes, and there is no reason why they shouldn't be able to accomplish that.
With Hive, it requires a huge super-majority (17 of 20).
However, with BTC, it could be done by controlling only 51% of the hashing power, which currently would only require the collusion of less than a handful of mining conglomerates.