BKS holders, it seems B&C forked

[Nagalim]

1. blockchains are not dependent on individuals living. You dont need to transfer to another asset.

2. why is there only one person? Im not sure you understand what im saying when i talk about self-organization.

3. and youre hayek born again to tell us all how to do it, im sure.

[Sabreiib]

1. blockchains are not dependent on individuals living. You dont need to transfer to another asset.

2. why is there only one person? Im not sure you understand what im saying when i talk about self-organization.

3. and youre hayek born again to tell us all how to do it, im sure.

1. peercoin blockchain is there after this person dies, but what about his hayek money? Who provides liquidity to his product?

I’ve already issued 1 Million HYK on waves platform, and I’ll do nothing further to simulate what happen if In die or leave.

Do you believe my HYK on waves platform will become a popular money in future?

Or you will say other people Hayek money will be successful, but with only thousands of USD liquidity respectively?

2)3000 persons issues 3000 thousands type of HYKs with different pegging price (some peg to $1.1, some peg ton$2.2 $11, $ 111 etc). This is not “organization”. I know “Spontaneous order” theory well, but “Spontaneous order” is NOT “Spontaneous chaos”.

3. You are a C++ programmer, dislike reading economics books but want to play economic games, what a joke.

[Nagalim]

You have a naive perspective on issuance.

[Sabreiib]

PA is more naive.

[Nagalim]

If i decide to treat every txn on the chain that sends coins to an address ending in ‘y’ as an asset creation event, who is the issuer? If i die, or dont die, you can do the same without having to change anything on-chain. This is a form of ‘issuance’ without an issuer, and completely possible with PA. Just because you don’t understand its versatility does not make it naive.

[Sabreiib]

Who determines the price? No peg? What’s the peg price? As long as anti-inflation is ready, every Hayek coin can be successful, although they probably has different peg start point.

A company may peg $1 on day one, but B company may peg to $ 1.6 as start point, C company may peg to $1000 from now.

[Nagalim]

And if usd goes to 0 real world value? The point is not the peg, it is market stability. I am trying to show you the tools without giving away actual useful ideas in such a hostile environment. But i think I’ll step back now, i can see it is a losing battle.

[Sabreiib]

And if usd goes to 0 real world value? The point is not the peg, it is market stability.

Each LP can choose different FIAT pair as they like, but they must be guided by one signal(DAO vote).

If thousands of issuers on PA issues thousands of Hayek type money, how could they become TOP 10 cryptocurrency? How to handle the exchange rate among them?

If there is no sufficient liquidity & peg, how could you prove the asset is stable?

[mhps]

Could you elaborate Indicium’s mechanism of Hayek coin??

it’s not specific to Indicium. i told you about it here before.

in short,
you issue two kind of tokens A and B based on the same pool of assets (e.g. stocks or cryptos)
On the issuing day peple can buy 1 A or 1 B at $1 price. The money they pay is used to buy underlying assets at current price, and become part of the pool.

After e.g. a year, A holders can redeem and get back $H where H is calculated by Hayek’s formula. B holders can redeem at this price

(total_NAV_of_the_pool - H * number_of_outstanding_A) / number_of_outstanding_B

Assuming the NAV never goes 0, A owners always have A at Hayek prices, B tokens price reflects all profit or losses of the pool, including the assets A-holders paid for. B’s price is levered. They get extra return or loss from market volatility.

Actually a can be anything as long as you can sell enough B to absorb volatility so that NAV never is in the red.

In Nu, A is NBT (unchanging price) and B is NSR
in nuLagoon, A is the fixed return pool, B is the turbo return pool.

[Sabreiib]

Actually a can be anything as long as you can sell enough B to absorb volatility so that NAV never is in the red.

This is not bad idea, the only question is whether you can sell enough B, this is NOT controlled by you. If A is the majority of the pool, if BTC(assumed as pool asset) price drops, you may find A pegging failure even if B holders lost 100% money.
In your mechanism, FIAT not suitable for pool asset, in this way, you seperate A and B into low-risk-low-profit and high-risk-high-profit, i.e., two sections, two types of customers.

Your company’s business is gambling on BTC price, the A section is actual your borrowed money, you pay back with “interest”, the B section is gambling section with margin trade.

Imagine that I borrow a lot of money with 3% annual interest rate, and combined with my own money, then buy tons of BTC, will I be happy in the end? Go heaven or go hell, both possible.

[mhps]

You are right. There’s no free lunch. The only safe way is owning a basket of commodities in the pool (no B anymore)
Technically you could use part of the pool to buy short positions to hedge downward risk.
Phoenix is using speculators’ interest in penny stocks to sell nsr.

[creon]

I’ve bought 7500BKS with 100+ BTC

you must be kidding me …

Hayek

Why exactly are you still so keen on realizing this idea on a broken PPC implementation? Are you aware that there are projects right now where minds like yourself are actually building concepts similar to yours on ethereum? Isn’t your whole thing “just” one really well constructed smart contract?

Anyway, just came back because I looked into other Cryptos due to this immense price spike everywhere and I am almost thankful that Jordan showed his face early enough for many to switch to something else, many surely can buy a small flat by now. Jordan certainly can with your BTC (maybe he even invested in ETH although his track record is miserable regarding those decisions).

But I really couldn’t resist after seeing your former and current dedication to this B&C scam. Jordan took so much from all of you people and you still provide him with daily posts to keep it going. There are so many wonderful projects happening around you right now and you put all your energy into this here. Friendly groups everywhere could use your knowledge much better and you would see actual results from your endless explanations.

[ConfusedObserver]

Jordan showed his face early enough for many to switch to something else

And for some lucky ones early enough to stay away from it.

Friendly groups everywhere could use your knowledge much better and you would see actual results from your endless explanations.

Thank you for this recommendation and your post in total.
I’m already experiencing a friendly Peercoin community and look forward to seeing what can be achieved there.

Indicium ICO Series A is closing in less than 24 hours and that could create one fine DAC dealing with crypto coin ETF based on Peercoin’s PeerAssets implementation.
Depending on the development road map of Indicium and considering how the ETF will be managed, this could unfold the potential to offer what B&C failed to deliver: decentralized trading of native tokens.
In this case it would be limited to tokens that are in the ETF, nevertheless full of potential.

[creon]

This looks great and there are a lot of familiar people in the frequent posters list. All the best with this project … I just hope you made sure that the user Indicium is definitely not Jordan.

[ConfusedObserver]

I just hope you made sure that the user Indicium is definitely not Jordan.

Lol, how to make sure of that? He’s so super anonymous that he had to frequently complain about trouble accessing the forum via TOR. Wait, was that Jordan or Phoenix? Anyway…

Indicium might be a shared account. I highly doubt it’s Jordan.

And I for one trust @Nagalim, @Mhps, @Peerchemist, @Saeveritt, @Backpacker69 (@Backpacker).
@peerchemist, @hrobeers and @saeveritt (and all the other contributors) did and still do a great job with PeerAssets, for which I have high hopes.

Their track record looks very good and if Jordan managed to create and maintain only one of those pseudonyms, he’s a way better actor and scammer than I can imagine
I hope I don’t become victim of my lack of imagination
You can guess by that, that I invested in Indicium.

[Sabreiib]

You are right. There’s no free lunch. The only safe way is owning a basket of commodities in the pool (no B anymore)

Commodities are also closely watched by governments/authorities, the only safe way is decentralized, whatever the pool asset(USD, BTC…) is decided by each shareholder/LP.

[Sabreiib]

I guess @Dhume invested same amount of mine.
I look around, no other project’s architecture closer to Hayek’s theory, and I dislike Ethereum because their logic is bad: building everything on one blockchain, which makes me sick. I won’t be involved in ethereum no matter how successful it is.

The biggest lesson is: I have my firm faith, the best way is to learn C++ and launch my own project. No matter how long time I will spend to achieve that, I have rest life.

[ConfusedObserver]

200 million NSR are missing and the B&C dev fund was used to mint, although stated otherwise

@Phoenix, any comment? Or are you going to sit this one out as well? It’s only 200 million NSR and a broken covenant. Your call.

[creon]

I have my firm faith, the best way is to learn C++ and launch my own project.

This is a fantastic idea and you will personally and professionally benefit greatly from learning a modern programming language. But, and @sigmike will probably agree on that, if you implement a crypto currency from scratch as you suggest then 99.9% of the code you will write and of the time that you will spend on the project will have absolutely nothing to do with the economic aspects of your currency design. You will be busy with network propagation issues, low level block signing strategies (things like segwit) or preventing your network to get DOSed to the ground.

My point is that you could just fork Ethereum (for example) and make it run nothing but your smart contract … like every ETH dev does before deploying contracts on the mainnet. Then you can focus on implementing the logic of Hayek money and Hayek money only, and don’t need to care about the other 99.9% of code that are required to bring this blockchain to life (and this number is not exaggerated).

[Sabreiib]

Thanks for you suggestion, in fact I only need to slightly modify B&C’s code:

Rename B&C into Hayek project, i.e. BKS -> Hayek share (HYS), BKC -> Hayek coin (HYK).

Add a mechanism of “parking shares to borrow coins”; for example, I pledge 10 shares to borrow 1 coin, the pledge ratio is 10:1. Of course, shareholders will vote the ratio continuously. And the lending period is around one month; Share holders will also vote for a guiding peg price continuously, such as $1.1 in 2017, $ 1.2 in 2018.

That’s all.

With regard to Ethereum, Peercoin, I won’t use them as base blockchain because I don’t know when they will die, even bitcoin may die/fall due to its price volatility.

Fix supply cryptos(coin not share) will be outdated, I mean nowadays 99.9% cryptos will be discarded by the public in future.