Matt Whitlock [ARCHIVE] on Nostr: 📅 Original date posted:2014-06-16 📝 Original message:How can there be any kind ...

📅 Original date posted:2014-06-16
📝 Original message:How can there be any kind of lottery that doesn't involve proof of work or proof of stake? Without some resource-limiting factor, there is no way to limit the number of "lottery tickets" any given individual could acquire. The very process of Bitcoin mining was invented specifically to overcome the Sybil problem, which had plagued computer scientists for decades, and now you're proposing a system that suffers from the same problem. Or am I wrong about this?


On Monday, 16 June 2014, at 1:12 am, Odinn Cyberguerrilla wrote:
> I have been noticing for some time the problem which Mike H. identified as
> how we are bleeding nodes ~ losing nodes over time.
>
> This link was referenced in the coindesk article of May 9, 2014:
>
> http://sourceforge.net/p/bitcoin/mailman/bitcoin-development/thread/CANEZrP2rgiQHpekEpFviJ22QsiV%2Bs-F2pqosaZOA5WrRtJx5pg%40mail.gmail.com/#msg32196023
>
> (coindesk article for reference: http://www.coindesk.com/bitcoin-nodes-need/)
>
> The proposed solution is noted here as a portion of an issue at:
> https://github.com/bitcoin/bitcoin/issues/4079
>
> Essentially that part which has to do with helping reduce
> the loss of nodes is as follows:
>
> "a feature similar to that suggested by @gmaxwell that would process small
> change and tiny txouts to user specified donation targets, in an
> incentivized process. Those running full nodes (Bitcoin Core all the
> time), processing their change and txouts through Core, would be provided
> incentives in the form of a 'decentralizing lottery' such that all
> participants who are running nodes and donating no matter how infrequently
> (and no matter who they donate to) will be entered in the 'decentralizing
> lottery,' the 'award amounts' (which would be distinct from 'block
> rewards' for any mining) would vary from small to large bitcoin amounts
> depending on how many participants are involved in the donations process.
> This would help incentivize individuals to run full nodes as well as
> encouraging giving and microdonations. The option could be expressed in
> the transactions area to contribute to help bitcoin core development for
> those that are setting up change and txouts for donations, regarding the
> microdonation portion (which has also has been expressed conceptually at
> abis.io"
>
> This addresses the issue of how to incentivize more
> interested individuals to run full nodes (Bitcoin Core). The lottery
> concept (which would be applicable to anyone running the full node
> regardless of whether or not they are mining) is attractive from the point
> of view that it will complement the block reward concept already in place
> which serves those who mine, but more attractive to the individual who
> doesn't feel the urge to mine, but would like to have the chance of being
> compensated for the effort they put into the system.
>
> I hope that this leads to additional development discussion on these
> concepts regarding incentivizing giving. This may also involve a process
> BIP. I look forward to your remarks.
>
> Respect,
>
> Odinn