- I can see some difficulties with tracking the pre-mined VESTS, and removing them from recipient accounts, I can't quite imagine the algorithm yet, though I have some ideas. I guess in your view, these accounts are in receipt of stolen goods, and need to return them to the pool, but I'm not sure how this affects balances across the board. Also, having the pre-mined VESTS added to the initial rewards pool is an interesting idea, but if done, the distribution time-frame needs to be extended over around six months in my view, and so the out-flow carefully calibrated. Once you know the balance of these pre-mined VESTS, you'd have a better idea of what to do with them. Would excluding them altogether not be more prudent from the perspective of the SEC (if there's an issue there), or does this lead to some accounting problem I'm missing? I'd like to know the percentage of this pre-mine.
- Good change I think, but I don't really understand the purpose of SBD, there may be a reason I don't know.
- Great change.
- Great change.
- Not sure about this, it's a bit confusing. If the voting formula changes once elected, couldn't it cause unstable witness selection (disequilibrium), where elected witnesses would oscillate each time it is recalculated?
- Not sure about this. If you're meaning a comment based referendum, there would need to be some alterations to prevent such discussion from being distorted/dominated by the early responders. Also, who would run this, and how would even the wording be decided?
- Great change. Perhaps in the short-term, a ledger only mode for the steemd RPC nodes, as that is all the exchanges need.
- Complicated one, I'd need to think/read more about it. I don't even currently know how reputations are calculated.
I can see Steem Inc. doing (7) when forced to by the lack of willing RPC node participants, but currently @gtg thinks it can be probably be run with an Amazon EC2 i3.2xlarge 61GB RAM ($313/month). If true, the requirements don't seem to be huge as yet, though obviously this architecture won't scale to Facebook size! @netuoso who has just set up a new RPC node due to recent outages, says full RPC nodes are currently using 70GB+, but as we know this is growing fast. An Amazon EC2 i3.4xlarge has 122GB, costs $625/month, and would probably cope for a few more months I guess. In my mind, one issue is that there's no reward for handling RPC requests (like there is for making blocks). It would probably require too much overhead to do so though.
I am currently on the fence about your fork, but depending on how Steemit handles ongoing structural problems and communication in the next couple of months, and if they don't implement (3), (4) and (7), it could gain traction I think.
If there is a genuine threat from regulators, then I can see how (1) might help, and how it would be popular, and rejuvenate the platform. I just can't quite bring myself, to conclude that the pre-mining was morally wrong though, even though the regulators and many people may disagree.
Very interesting!
"I'd like to know the percentage of this pre-mine." - To my understanding we're talking about of very big percentages here. For a first few days only select few were mining as the Steemit Inc didn't release any info on how to do it. So select few got majority of the stake for being in the inside, and to add to that, the inflation was 100% or something similarly crazy after that. So these people kept gaining crazy number of Steem for doing literally nothing for a long time. Dan for example, was gaining couple steem every second or so. And this is the problem with Steem.
I think you can find more information about the whole fiasco start from bitcointalk forums.
Thanks for that. I'll have a look at that when I've some more time.
The strange thing is, I bet some of them regret that the process happened in quite that way, but are trapped by it now.
I saw your www.folderall.net project, it looks interesting, but the search doesn't seem to work at the moment... is that right?
Who knows what they were thinking but proper and fair distribution had no part in it. Maybe they were only going for short term profits. I just read that the Steem blockchain has grown 50% in size in the last 6 weeks. That can't last very long.
I'm glad you find the project interesting. I started working on it before I even knew of Steemit and it's a "learn by doing" -kind of a thing. The search is not working currently as I don't have "testing sandbox" and make changes directly to the live version and these changes are still somewhat underway. Clicking on tags however does work to some extent at least.
Yeah, how many GB is it now? I'm thinking the problem is in the RPC nodes index to the blockchain, this seems to be unstable unless it's in RAM (as @elfspice says), but does work to some extent using very fast swap with SSDs in RAID 1. I get the feeling it's not too hard to solve though to be honest, but I'm still learning about the infrastructure, and the information is hard to collate.
I've been considering working with Steem Connect soon too, I would have to convince myself the platform has a future, before I put more time into it!
From elfspice - "about 50% growth in under 6 weeks since I last saw the chain was 14gb, it is now 22gb"
I'm not that technical that I could provide any input on this issues. They however do make me worried since I care about the decentralization part in a big way.
My little project doesn't really need Steem, it posts all data to its own database and to Steem so it's fine even if it implodes. Sad, but fine.
I've seen his post now... it is pretty crazy!
I understand the basis of your fork is moral, and respect that.
I'd be interested in what you've done on proof of service and spam identification.
It sounds clever. I still haven't quiet got my head around the architectures/flows of these decentralised cryptographic systems. It's quite a leap from the data analysis work I usually do!
I feel like I need to read some books or watch some tutorials/lectures on it to be honest. Any suggestions?
Well, you, and a few other very smart people ;)
I see what you're saying about the models corresponding to legal processes though - good point. I probably need to familiarise myself with some cryptocurrency systems source code too when I've time.