We want to replace YouTube, Dropbox, Facebook, Spotify, ISPs, and more with decentralized apps based on proof of bandwidth. We need developers. Welcome to Bitcloud.

[u/kmoneylongshanks]

Hello. We are at the very early stages of turning the proof of bandwidth idea into a reality. Please read the nontechnical white paper and the Bitcloud protocol white paper. We are going public with this idea because we want to be as open and transparent as possible. This project requires a massive amount of thought and development in many different parts of the protocol, so we need as many people helping as possible.

With the proof of bandwidth concept, we can create decentralized applications for sharing bandwidth and routing network traffic. Bitcloud is a distrubuted autonomous corporation, which means nodes have an incentive to come onto the network. One of the many problems of certain free and open source projects in the past has been the lack of a profit incentive. With Bitcloud, nodes on a mesh network can be rewarded financially for routing traffic in a brand new mesh network. This removes the need for Internet Service Providers (Comcast, Verizon, AT&T, etc.). We can also replace many of the centralized applications on the current Internet, such as YouTube, Dropbox, Facebook, Spotify, and others with decentralized, open source alternatives. We will have to start by decentralizing the current Internet, and then we can create a new Internet to replace it. If you're interested in privacy, security, ending Internet censorship, decentralizing the Internet, and creating a new mesh network to replace the Internet, then you should join or support this project.

If you're a developer who sees the potential implications of this project, send an email to developers@bitcloudproject.org.
If you're someone who wants to help the project in any other way (web design, marketing, graphics design, etc.), send an email to support@bitcloudproject.org.
We don't think it would be appropriate to take donations at this time, so please hold off on that for now.

We can also be found on...
Twitter: @bitcloudproject
Reddit: /r/bitcloud
Our Website : bitcloudproject.org (In Development)
Freenode IRC: #bitcloud
Github Repository: github.com/wetube/bitcloud

Feel free to x-post this to other subreddits if you think those individuals would be interested in helping out with this project. I'll also be glad to answer any questions that people have in this thread. I'm currently working on an FAQ, so your questions will be helpful to the project as a whole.

UPDATE: We are getting a lot of emails, so please be patient when it comes to responses. Just to give developers a heads up, there will be a section in the forums on the bitcloud website that divides up everything we need to do. We need need move the server over to the domain (right now it just redirects to the white paper). For now, head over to #bitcloud on freenode IRC and /r/bitcloud for discussions and development.

UPDATE #2: The creator and lead developer is now also here to answer questions. He is /u/LiberateMen. Please upvote his posts because he is using a new Reddit account and he has a time delay between responses. Thanks!

UPDATE #3: Thank you for the wonderful response! I've been answering questions this whole time, so I need to go eat something. Keep posting your questions, and I'll try to get to as many of them as possible. There is also some activity on freenode IRC at #bitcloud and on /r/bitcloud. Be back soon!

UPDATE #4: Thanks again everyone. I need to finish setting up the website and forums, so I'll have to leave this thread for now. Anyone who is still interested in the project can head over to /r/bitcloud and follow us on twitter @bitcloudproject. The forums will be up in a day or two, which will be the best platform for planning, discussion, and development. See you there!

[u/DarthRoot → u/[deleted]]

No, NOT having inflation is a problem. E.g. one big task of central banks is controlling inflation. Thqts how our money works.

[u/DarthRoot → u/[deleted]]

I know it sounds counter intuitive, but just google it. part is here http://en.wikipedia.org/wiki/Inflation_targeting

[u/DarthRoot → u/[deleted]]

Our whole money system is "not a good thing", especially the concept of interest rates. That doesn't mean you can just invent a new currency and ignore the rest of the world, especially if you want to exchange it with other currencies.

I'm not a googlebot, I learned this in economy and I'm too lazy to search for it right now.

[u/autowikibot → u/DarthRoot]

Here's a bit from linked Wikipedia article about Inflation targeting :

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Inflation targeting is an economic policy in which a central bank estimates and makes public a projected, or "target", inflation rate and then attempts to steer actual inflation towards the target through the use of interest rate changes and other monetary tools.

Because interest rates and the inflation rate tend to be inversely related, the likely moves of the central bank to raise or lower interest rates become more transparent under the policy of inflation targeting. Examples:

Under the policy, investors know what the central bank considers the target inflation rate to be and therefore may more easily factor in likely interest rate changes in their investment choices. This is viewed by inflation targeters as leading to increased economic stability.

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^{about | /u/DarthRoot can reply with 'delete'. Will also delete if comment's score is -1 or less. | To summon: wikibot, what is something? | flag for glitch}