RE: Scaling, Decentralization, Security of Distributed Ledgers (part 4)
The new consensus algorithm is amazing and bullet proof. It is so simple to implement, understand and simulate. It is just a complete revolution in distributed consensus.
I also know how to do this securely. And with unbounded scalability and instant confirmations.
We are delaying publication of the new consensus algorithm and mechanism, because we do not want it stolen by other coins. We have to be ready with a large marketing push.
Otherwise, someone will just take it, rename it and do a shitcoin ICO on top of our work. We have already had coins in China try to clone the methods we have already published and do shitcoin ICOs on top of them.
We are considering whether we want to file for a patent (with open source licensing of course), in order to stop copycats and shitcoins. In the US, if you invent something, someone else can patent it first and then sue you for using your own algorithm (first to file). So we have to consider our legal and marketing strategy for how we can release the consensus algorithm so that it is not copied.
This is a point I should also consider. Apparently I have not been paying attention and in 2013 the patent law in the USA changed from first-to-invent to first-to-file. What a wonderful totalitarian world we’re sinking into. 😲 😱
But I’m aiming for decentralized development. Have you seen John McAfee’s warning to those who issued ICOs as Skycoin did?
How can a patent holder sue a decentralized protocol? Would they sue all the users and full node operators?
Also after reading more carefully about patent law, I’m afraid that Synth is slightly misleading. Early disclosure prevents any patent from ever being awarded in the EU and the USA has a one year grace period from disclosure to file. Presumably after the 1 year, nobody can file a patent on the prior art. Sounds to me like the real motivation is to stop the copycats (which is understandable but I would not opt for that strategy), and not fear that someone else will patent theirs after they disclose it.
I thought about contacting Synth, but WTF is going in with their internal strife?
https://twitter.com/JaredDu71247146/status/1009452463064256512
Synth was hyping the lying shit out of Skycoin on May 24, the day of the peak in the pump after the May 23 listing on Binance before the crash in the price.
Also I observe Synth and Skycoin pitching the concept of a mesh network, but mesh networks lack liveness because they violate fundamental principles of distribution of resources in nature due to physics:
https://www.corbettreport.com/interview-1356-ray-vahey-presents-bitchute/#comment-50338
https://web.archive.org/web/20130401040049/http://forum.bittorrent.org/viewtopic.php?id=28
https://www.corbettreport.com/interview-1356-ray-vahey-presents-bitchute/#comment-50556
Synth also explains that the mesh network is intended to be the way of distributing the coins by rewarding those who provide bandwidth to the Skywire network (and eventually perhaps also rewarding those who provide computation and storage resources). I had written somewhere recently that the issue of net neutrality arises because content providers pay for their outgoing bandwidth instead of having content consumers pay for download bandwidth because it’s not economical to coordinate charging an unbounded number of ISPs as compared to metering the trunk lines and charging the relatively smaller number of Internet hosting companies via their hierarchical access to those trunk lines. IOW the upload fan-in degree to the trunk lines is significantly less than the fan-out to the downloaders. Or moreover the economic incentive is such that a large base of consumers who can be sold a flat-rate pricing (because the alternative Changetip must die) provides a huge market which content providers monetize and so the behemoths at the core of the Internet can make more money charging for the upload bandwidth than for the download. Thus because Changetip must die, it will only be possible to charge the content consumers micropayments if it’s unobtrusive and their monthly costs are so minuscule they don’t care (so there’s no cognitive load whatsoever). So although it may be psychologically viable if costs of bandwidth become so low, then by definition it won’t be a way of distributing a significant amount of value (i.e. not the 100 million SKY tokens) nor funding the capex of a large network infrastructure. It makes no sense whatsoever economically to attempt to replace the existing Internet infrastructure (its monetization model). Instead the only way the micropayments model may work is layer on top of the existing physical infrastructure. So the entire Skywire concept is nonsense.
Also Synth fails to note the incredible increase in cost of maintaining so many low-cost CPUs. Mining farms need full-time staff just to find and fix the recurrent failures. The Skycoin hardware isn’t SoC, thus there will be maintenance pertaining to environmental degradation of interconnections for example.
I remember username @skycoin was selling SKY tokens in exchange for BTC on bitcointalk.org via Bitmessage as early as 2015. Details are here. I don’t remember him excluding sales to USA persons. That would mean he has a serious potential problem with the SEC. And now this market manipulation linked above could bring the CFTC into it.
F
F (named ef ) is the sixth letter in the modern English alphabet and the ISO basic Latin alphabet.
Apparently during the development of Skycoin, there are hundreds of attacks and FUD campaigns against trying to bring Skycoin down, and recently Synth was held hostage during a robbery (assuming he was telling the truth).
Concerning the Skywire nodes, I currently possess one of the first generation Skywire nodes, which made from several Orangi Pi, but as far as I know, they will develop custom circuit board for the next generation as well as custom antenna with improved range.
If you're still interested in contacting Synth, I can try dropping him a message on Skycoin's telegram.
Btw, in case you are still not aware yet, the guy who made counter arguments on your post about Ouroboros did update his comment after reading yours, and he apologized for being too harsh.
P/S: I'll leave the Skycoin telegram link below, just in case you want to get in touch with Synth: https://t.me/Skycoin ; and Synth's username is @haltingstate