Being self critic about cryptocurrency application and future

Why not to make the system fair, instead of a lottery, the system should reward all the participants equally and proportional to the contributed resources.

Why this is not going to happen?. Because perceiving the true is deceiving, the reward will be dissapointing, but is the only way to build a really descentralized system.

If you want to build a really descentralized and fair system, you have to limit the amount space contributed by each participant.

Do we really net so many Exabytes to support the network?
What is what chia really wants to accomplish?

Cryptocurrency is great in design but is lacking real application for mundane purposes like paying for coffe in the local coffe shop, and chia is not being the exception.

Are we (cryptocurrency enthusiasts) only dreamers or objetive and smart people solving real application problems?

The general public is perceiving that the cryptocurrencies are only used by criminals for ilegal activities.

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I am afraid it is not possible to make the changes you suggest to Chia or any other Crypto.

These types of changes requires a hard fork which means you need to and are creating a new coin.

I’m not up for it, lolz!

This is in essence what pools do.
You can choose to solo mine or farm and win a block by your efforts
or you can choose to pool the efforts of many and share the block won by the group.

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Your understanding of “fair” is very subjective

“you have to limit the amount space contributed by each participant.” is not fair by my definition - it shows a preference to the small contributor and is EXTREMELY difficult to enforce/implement

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We are the former, Nakamoto is the latter, and the Chia devs are just people who are taking advantage of us to make money.

Somebody is waking up.

Zahk’s comment is not going to age well :slight_smile:

A bit confused why you are on a cryptocurrency forum if that’s how you feel about cryptocurrency…

Why do people participate in politics if they don’t agree with the meta?

All on me.

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Would have been nice to have from the start, but it will be like that (Blizzard)soon

Not possible, unless you can police and monitor every citizen in the world

Create a blockchain with a programmable layer that will see mainstream acceptance, enter into the regulated financial space and can be used - among others - for building fintech applications.

It is and has been used a lot in that way unfortunately. There is the kind of trade of here that we see in more things. People want privacy, but they also want the police to be able to quickly and reliably track down criminals.
Also Dollars have been used for decades by Criminals, Warlords, Dictators and drug dealers…so not much new here :rofl:

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Criminals ride the bow of the wave …

After that innovators, financials, then the masses …

Do you want to explain that?

If you use a hard fork you then it is no longer Chia, it is a new coin.

If you want a “fair” (by your definition) system then you will have to create the coin yourself.

Once your coin is on the market you will have thousands of peeps going to great lengths to prove how unfair your coin is.

You are the one that wants it and know how to make it “fair”. Do your own work if you can.

Do you think starting a new coin is easy? It is far beyond the means or ability of almost all of us.

Not just start … many coders can do that … to be a bit flip, launching a coin successfully requires a bank and an army.

The fact that you have neither is why you are pissed and want the system to be “fair” to you in the first place.

You version of “fair” is about tipping the table in your favor, without care the effect this has on the other players at the table.

I agree with this, but I also think this will be main problem with Chia. I would live a more decentralized blockchain to beat Ethereum but it might be too late… at least at the rate Chia is moving. Fintech doesn’t really care which blockchain is more decentralized or stronger. Actually, the more control they can put over a blockchain the better. Ethereum is perfect for that. POS favors the rich, banks, corporations, governments, … and a centralized development team that has 100% control over what the miners and node operators do (see ETH Ice Age), these organizations can control Ethereum much more than they could control Chia.

A cryptocurrency where every miner is part of one big pool would be interesting. No 50% attack there. The network is the pool and the pool is the network.

That would probably be a better system but if you liken it to gambling or a lottery, then it’s no surprise they went for low chance of a big win rather than high chance of a small one. Much harder to whip up excitement for that. It’s the big poker win that inspires people not grinding out a meagre living.

As for crypto being useful, it could be but it would have to meet these conditions, the same as any other currency:
-store of value
-unit of account
-medium of exchange

The second and third are easy for crypto to meet. Indeed the blockchain is a much better way to do the second, than the records kept by banks and governments. The first one is much more difficult. Chia’s value has dropped but this has little or nothing to do with farming activity and everything to do with speculation and perception of value, in a week where many people have realised farming Chia might be more difficult and expensive than they thought and a week in which crypto faces regulation around the world. Depending on your politics this isn’t necessarily bad but it does generate uncertainty, the antithesis of hope and optimism.