[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

[Cryptography] F*ck Facebook

On 6/17/19, Eternal October via cryptography <cryptography at metzdowd.com> wrote:
> Machine gun this at your leisure until it's deemed viable or trash can
> fodder. Facebook is proposing something similar tomorrow. I suspect that
> they will only basket fiats and miss the entire point of this grand
> experiment.

Facebook Consortium Coin is all over the news sites for a week.
It is being rightly and utterly trashed by just about everyone in
cryptocurrency space who is not a complete self serving proponent
and partner of total State Corp Spy Control Censor Marketing Datamining
etc over you and everyone. You do not want that shit in your money.

There's thousand of shitcoins out there that need machine gunned
to death, for many reasons, including the above.

> I've only just now, quickly, written an abstract and am not an academic
> writer. And I'm clearly not SN. Not even close. Guy spooks me, whoever he
> is.
> ~
> Owl: A Peer-to-Peer Electronic Cash System
> Eternal October
> eternaloctober at protonmail.ch
> JUNE 17, 2019
> Abstract. Programmable money[1] pegged to a variety of assets weighed
> dynamically by their moving impact on the global economy would act as a
> hedge against failure in legacy assets. We propose a solution to the
> centralization of speed-focused blockchains with a variant of Delegated
> Proof-of-Stake[2] utilizing Quadratic Voting[3] as a consensus mechanism
> rather than plutocratic systems prone to cartel formation. This combats the
> consolidation of influence by resourceful actors. Owl deploys a system of
> APIs both publicly available and managed by elected custodians working in
> tandem with decentralized oracles[4] in multi-asset price discovery.
> Authenticating the median price of these assets through Byzantine fault
> tolerance checks creates a steadycoin that shields itself from volatility.
> [1] https://bitcoin.org/bitcoin.pdf
> [2] https://bitshares.org/technology/delegated-proof-of-stake-consensus
> [3] https://eosauthority.com/producers_rank_quadratic
> [4] https://link.smartcontract.com/whitepaper