United Bitcoin is a project to create an authority dedicated to developing Bitcoin software, protecting the users from fraud, ensuring stable growth of BTC value and continuous and guaranteed functioning of the network.
A solution to double-spends is to introduce a trusted central authority, or mint, that checks every transaction for double spending.
The central bank must be trusted.
Bitcoin is in fact in the middle of civil war. Several groups with questionable agenda attempt to control the development of Bitcoin, which makes network weaker and disjunct. Developers are silently introducing fork-causing changes like BIP-66, putting the money of users at risk. We're at brink of Bitcoin splitting in several forks, which would lead to feuds, intervention, and eventual destruction of network and values Satoshi stood for.
The text above was written by our team of cryptomarket analysts in 2016. And indeed, we predicted the current events: bitcoin is split into myriad forks, every one claiming superiority and being an effort to steal people's bitcoins under various pretenses like pre-mining or just to control the blockchain. There's even a fork claiming our name, United Bitcoin, which aims to steal all "inactive" bitcoins and put them in domain of some shady committee. Such power shouldn't be concentrated in hands of some random coders.
At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware.
It's not worth it for more nodes to join in.
Full nodes were never designed by Satoshi to be as widespread. Currently, full blockchain size exceeds 100GB, consumes a lot of bandwidth, RAM, and only few users can run one.
The node power must be consolidated. As nodes are strategically important parts of the network, they must be placed in secret areas, protected by government. Currently, banks are using high-security vaults to store commodities and critical computing infrastructure, they also run large secure datacenters: these locations can be used for nodes. Banks will be hosting Bitcoin nodes and local government will ensure their location satisfies top-level security criteria.
Banks will also ensure no bitcoins are used for harmful purposes like purchasing drugs, assault weapons or sponsoring terrorism: users will no longer fear that their bitcoins are contaminated by questionable operations and will no longer fear being apprehended for crimes they did not commit.
Instead of being driven by random people with often no related education or even farm owners, Bitcoin must be steered by specialists. Block size is going to be decided monthly based on analysis of current market state, by qualified economists. Generation rate and transaction fee will be finely-tuned as well, making sure BTC experiences stable growth and developers receive their compensation, ensuring they are not distracted from their jobs. Network scalability will be limitless and if there's not enough bitcoins, more can be released if specialists decide that.
Bitcoin source code being available for everybody, including malicious parties, naturally causes security problems. Solution would be to restrict access to source code to specialists, who would control Bitcoin development and ensure all problems with network are being resolved fast and with least possible downtime, providing cryptographically signed software updates to all banks and end-users. This ensures the code have not been tampered with additionally measures can be deployed to detect participants using unauthorized modifications to client, endangering the network. The government will also be issuing licenses for banks to run node software, protecting the users from rogue nodes.
Of course, such power requires strong leadership skills and proven industry force.
The President of Russian Federation have proven himself to be iron-willed leader, taking his country from brink of extinction after Perestroika and making it into a world superpower once again. Staying in office of Russia, country that unites people of more than 100 cultures and more than 10 religions for over 10 years, Putin is the proper leader for multination, multiparadigm economy that Bitcoin is. In a year of 2015 alone he doubled the amount of rubles in Russian budget, sending Russian economy into a golden age.
We are developing a paper describing the network and proof-of-concept software with Skolkovo Innovation Center.
Simultaneously we're preparing the bill project that will integrate