Where is the resteem button? Wanted to reestem your post! Great post!

I'd be happy to do some proofreading -- not just for grammar but also for wording and conciseness. How much time are we setting aside for community review?

i implemented following changes requested by @s4mmy: more page breaks and statement in chapter 4.2 about 51% attack in conflict with chapter 7.4

today i increased bitcoin miner efficiency from 1W per gigahash/s to 0.5W per gigahash/s to make the estimate more inline with the official estimate and added a chapter on transaction efficiency as per @thecharlatan request

@brod pointed in another post at this whitepaper:
https://www.usenix.org/system/files/conference/woot17/woot17-paper-grothe.pdf
i am thinking on how to integrate it as it is well written. Fortunately the mentioned security issue was solved long ago.

You've put awesome amount of work into this! 

As for RAC formula, as I have already explained under @jefpatat ' s article, 

Instead of an overcomplicated form:

decay = exp( (-t/7) x ln(2) )

you can use:

decay = (1/2)^(t/7)

as:

exp( (-t/th) x ln(2) ) = e^( (-t/th) x ln(2) ) = e^( ln(2^(-t/th)) ) = 2^(-t/th) = (1/2)^(t/th)

For some reason this non-simplified form of equation is copied all over Internet. Maybe because it looks more 'scientific' with exponents and logarithms than simple 1/2 to power t/th? The latter one is easier to understand and you can easy see that if t = 7 days RAC =1/2 or is halved.

*Power consumption note.*

According to numbers in the whitepaper, setup i5 + gtx1060 delivers 4 895 598 GFLOPS. This would be an equivalent to 134 126 i5 processors and only 635 GPUs. As in this setup GTX delivers 98% GFLOPS, it might be more reasonable to assume that 98% of Gridcoin network GFLOPS is delivered by GPUs. Now the network would be equivalent to 1246 GTX 1060 cards and 5365 i5 processors (it comes surprisingly close to my [guess-timations](https://steemit.com/gridcoin/@hotbit/on-gridcoin-mining-profitability-value-and-other-random-thoughts). With above assumptions energy usage would go substantially lower.

The work put into this draft is amazing, however I personally think there is still a lot more to be done including several important fundamental corrections and significant cuts to content.  I have no intention of pushing for a vote on this paper.

Congratulations @dangermouse77! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/comments.png)](http://steemitboard.com/@dangermouse77) Award for the number of comments

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)

If you no longer want to receive notifications, reply to this comment with the word `STOP`

> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!

Congratulations @dangermouse77! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/comments.png)](http://steemitboard.com/@dangermouse77) Award for the number of comments

<sub>_Click on the badge to view your Board of Honor._</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!

Congratulations @dangermouse77! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@dangermouse77/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@dangermouse77) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=dangermouse77)_</sub>


###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!