RE: POCKET Announcement

[biophil]

1. Fee is not burned; it's collected by confirmer account.
2. If witnesses run the confirmers, that doesn't seem like a problem to me. If the witnesses are good enough for Steem, I suspect they're good enough for pocket.
3. Pocket is weakly Sybil-resistant. Of the 300,000+ Steem accounts, fewer than 60,000 are eligible - you must have posted 5 comment operations before the creation of the genesis post. Crude, I know - but perhaps not totally ineffective. We'll see.
4. Great idea.
5. comment and comment_options are two separate operations, yes? The comment_options op will simply be ignored by the pocket protocol, which is fine - it's the comment operation that contains the command of interest.

Again, thanks for the comments.

Comments

[picokernel]

1. You're totally right. I've also come to terms with the fact it's not percentage based because the idea is 1 POCKET isn't ever going to be worth much. Not worth crying about for a fee. My concern was that if I'm tipping 1.5 POCKET because of how valuable it is that the 1 POCKET fee would be too expensive. With this flat fee system, we don't get any ugly decimal balances.
2. My point was that there would literally be no incentive for anyone to run the POCKET DB at that point. Only the witnesses. Leading it to be highly centralized. I was also thinking, there is no penalty for falsely assuming that a transaction is valid and posting the verification message. The balance information can be found querying for previous comments mentioning the user's balance. No need to actually run the database. Even if it's only an effective strategy (found user's POCKET balances and made a verification comment in time) 33% of the time, it's virtually free compared to running a full steem node and validating the database. To combat the issues listed above I suggest that in order to claim a reward, you must post the hash of the database state. Since reliance on specific implementations is generally frowned upon, you would have to come up with some algorithm that defines how to hash database state. That could be something as simple as breaking the database down into a CSV file and hashing the CSV file. At least that shows you're storing the whole database and not using the strategy I outlined above.
3. Fair enough. I think that's a fine measure.
4. Thanks.
5. You're so right. I was mistaken.

[biophil]

Point 2 brings up a couple very important things which I thought about informally, and I'd want to include in future iterations of this. I'll contact you if I get that far.

[quinneaker]

Really great points and questions. POCKET is already being refined.
I may be wrong but this seems like more of a social experiment than anything. To see what people do with it. Because regardless of if the coin becomes "valuable" the applications of which POCKET can be used are still vast.....
The experiment has already begun and look we have qualified intelligent people already discussing and refining the potential!
So cool!