Hello everyone, it's been a while. What an eventful few months.
For those that didn't make the Augeas cut, I do recall seing AES for sale via PM / Escrow for something like $1 - $2/share. If there's re-kindled interest in this blockchain, then that may be an avenue to get on board cheap. One could probably easily get 1% or more ownership of the network for not a whole lot.
- Healthy but smaller than what it was -- my client connects to 3 nodes (used to easily connect to 7)
- Blockchain is at 317385, total AES: 50,249
- My client does connect to some other nodes; I'd figure about a half dozen nodes are running the client
- I'd estimate ~5400 AES are minting
Development status & bugs:
- About 13k AES remain in several addresses, as documented here: https://woodstockmerkle.bitbucket.io/augeasdao/augeasdao-addresses.txt
- There have not been the need to use the AES to mint, to stabilize the network
- These are singlesig addresses; I'd be willing to distribute the unallocated NSR to a multisig if the community could reach consensus on a FLOT-like org & membership
As I got deep into the codebase I realized both a lot of limitations & opportunties that were possible with a different blockchain and client architecture. To put it bluntly: I want to write my own blockchain tech, upon which powerful functionality can be added. This is a challenge both to the magnitude of the work & my availability, but my timeline is more in the horizon of years, not months or weeks. (Call it Augeas Next Gen, Augeas-NG perhaps.) If it were to ever come to fruition, I would launch a chain with distribution to Augeas shareholders in some form.
However that doesn't preclude the ability to use what we have to run a DAO:
Idea #1 - Pegged Crypto asset
I'd say the recent success in reaching the 50% reserve has been the growth the value of BTC, not due to network revenue, successful trading, or some intrinsic value-generation of Nu.
NBT do have good volume; I think it would only make sense to execute if the DAO execuited with a wide spread. NBT on Crytopia trade on a 0.4% spread if my look is correct -- I'd envision something like 1% or more
Idea #2 - Distributed Exchange
The TL;DR of that: the technology isn't there. I'd peg the development effort to be $50k - $100k but sigmike may have other opinions.
Idea #3 - Something like a Quite Good Money or Hayek coin
These make sense, except for, how do we prove that the DAO is actually in posession of the various "good money" assets -- especially for those that are physical or more conventional.
Idea #4 - Index of Cryptos
In some article I read recently, I read that the reason why index funds are outperforming mutual funds, hedge funds, etc., is that there are outsized gains that happen from a handful of outliers.
Mutual funds / hedge funds may not have the ability to do the deep analysis on the thousands of stocks on the market, so they have to pick & choose. An index fund plows in blindly. And while probably many stocks falter or fail (100% -> 0%), that is offset by the wonders that emerge (100% -> 1 million %), and capture the growth before it comes on the radar.
The value of Augeas could be in the holding of many (think dozens if not hundreds) cryptocoins -- including the seemingly $*^!-coins and the like.
The value proposition:
- investor only needs to manage / maintain Augeas, not dozens or hundreds of wallets
- FLOT-like community resources holds investment in multisig (or perhaps in singlesig for areas we can spread / reduce risk)
- the coin's 100% reserved value can be published / calculated invitng investors make $$ on the spread
- if not, the DAO could step in and either sell AEC or buy AEC to match to the NAV
- individual investors may have lessend risk to large spreads / illiquidity on smaller coins
I would suggest Augeas hold off on soliciting availability on exchanges, etc., until there is a more solid plan -- as there's only one chance to make a first impression to the world, and the value proposition to exchanges (like Cryptopia) is that the coin has something unique going on.