I don’t work together with criminals. If anything I work against them.
I am not. I wanted to get on the boat, but I was alarmed by the way this business is being run. Lucky me.
As silly as that might sound: I think there’s still a chance to get the tide turned. Why else would I continue my efforts here?
But do you think Nu and B&C can succeed with @Phoenix remaining at the helm?
Would you ever trust these DACs with additional funds as long as he’s in control of so many resources and sits inconvenient questions out?
You are right. Still I’m sorry for you.
Any precise plans for that?
On top of what technology would you build it?
I believe Nu/B&C are very close to Hayek model, although @phoenix has not accepted Hayek’s mechanism, in fact, a slightly modification will turn Nu/B&C into the first Hayek crypto project in this world.
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(inflation ratio)continuously, such as $1.1 in 2017, $ 1.2 in 2018.
Look at peerasset, waves etc platform, they are very ridiculous about issuing asset, can you image one person control Hayek monetary policy? On waves platform, I’ve already issue 1million HYK, so what? No voting system, all decided by me, a joke. Zero anti censorship.
You can use whatever issuance mode you want to create on PA (including taking away issuance power from the spawn address). You are strawmanning the universe to make it so Nu is the only thing that can do what you want to do. Instead, go out there and create.
After reading the white paper of PA, I still don’t understand the mechanism, perhaps I cannot understand the article at all.
My ideal future is here:
Thousands of shareholders all over the world, vote continuously on the pledge ratio and floating pegging price, quite some of them are LP. Those LP make their living on spread trade.
That’s how it works on PeerAssets
Thousands of PeerAssets corporations all over the world compete in issuing the money with the greatest buying power stability.
That’s the real competition required for good money. Nu or B&C can only be a competitor on the market, but you can barely have competition within Nu or B&C with good money as result.
The draft how to create such a corporation based off PeerAssets is soon being implemented under the name Indicium.
While Indicium aims at creating a different product than good money, the business processes created by Indicium can be used to make Hayek money as well.
You just need to find a way to tap into commodities, raw materials etc.
You just need to find a way to tap into commodities, raw materials etc.
USD has infinite liquidity compared with crypto, and every commodity in this world has USD price, so why don’t you understand if we peg to floating USD, we can peg to a basket of commodities.
Because any business shuffling the USD is closely watched by authorities, which discourages innovation.
Indicium could issue a Hayek fund without underlying commodity cryptos if a pairing fund that absorbs the volatility is issueed.
Hayek proposed the concept of self-organization as opposed to central planning in economics. PA allows individual clients to decide the rules for themselves based on their local perception of the chain, thereby allowing them to recognize or not recognize the ‘rules’ or even existance of a blockchain token on their own. This allows clients to self-organize into microeconomies like biological entities in a broader ecosystem. There is no central determination of the rules or what ‘money’ is. This is much closer to the concept of Hayek economics than the basic centralized loan concepts you are advocating. You are trying to design with your human intellect a system “that which is the result of human action but not of human design.” This is a tautological impossibility.
1)If one one person issues a type of Hayek money, and he get killed by car accident the next year, how could customers transfer their money into other asset? After all, some customers will keep the money for many years.
On person only has limited capital, so the liquidity provided is insufficient. A big Hayek currency issue DAO can have billions USD market cap.
F A Hayek has already demonstrated how to issue Hayek money 40 years ago, and You have not read it carefully.
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”.
You are a C++ programmer, dislike reading economics books but want to play economic games, what a joke.
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.
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.
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.
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?