DeFi for Real Life Companies (the Future), Part 2
Basic Attention Token (BAT) and DTube as existing PoC for Attention Tokens, the idea is just then now to actually apply the concept to Corporate Currency as in applied Local Economics, or State Economics, or Interstate Economics. BAT is a Token on a Browser that sounds great at first, but has an earnings model where you earn but have to use it to Tip web pages, then they can cash them out. And while this keeps the Tokens locked in as forced to move through the Tip functionality, this does limit user acceptance and retention. DTube is similar but better, it exists on top of HIVE (it was originally on Steemit) so not an entirely new browser everyone has to download, and you earn it alongside HIVE, then it also has a larger community, and itself is like a YouTube tip Token for "Decentralized Tube" (DTube). It is a Token in the Scot Bot model.
The Access Credit is like Mining for Coupons or Tickets, and can be compared to Basic Attention Token with other qualities as it is used as a Access Credit.
Steemit is a rough clone of Reddit, meant to look and work like it
Gems (not really in use now) is Telegram, this could be used by someone to create Apps. Go get the Gems Github on Google and Fork it, and build your App, called a dApp.
DTube is YouTube.
More could be remade with Blockchains and Tokens, I have seen an Instagram.
APPICS is an SMT that was built on Steemit and works like Instagram kind of.
Home Town Currencies
Starting with no local shop acceptance but a main goal of local shop acceptance, you would either make a Token or Clone ETH and have friends help distribute. If you are not sitting on Millions to start your project or able to do an ICO properly to get it, then the very best thing you can do is to Give them away for Free so more and more people can hold it and share it. You want ambassadors, and people just handing them out maybe as a group of people mining your coin giving it away and teaching others.
Petitioning Companies to accept your currency, and exchanges to list it, the more Token holders the better. You can ask the Coin or Token holders to petition exchanges to join, and you can get listed for about $1,000 or less on some exchanges. You do want to be on an exchange before you start asking companies to accept you as money, but you can then go to local shops and show them your currency.
Truancy Token as an example of an Access Credit, this would be done with a School or Corporate Office, and it would work like Vacation Benefits where the person earns rewards for appearing at work or school, and they then can use those to access Graduation or Promotion, and they can also go on an exchange to be sold, or technically if the Company wants they could be bought and traded for rank. But in the school model they would be a reward that could then maybe be traded in to the school for prizes, for example it could be a booster club currency.
Example: App where people are paid to lose weight, people could sign up, track their progress with images for everyone, there could even be weigh days where people are running around the app getting paid to Verify others, and those getting Verified are getting ranked based on IoT scales or FitBits, etc, that can be used to measure. So this way it is both a "lose weight and earn" with payment from the blockchain, plus a place to get paid for casual fitness, as well as rankings and payments for all users. There are a few currencies like this on Steem-Engine and Hive-Engine, similar to APPICS. Maybe the more you hold the more you earn when Verifying others, as a HODL draw for Buy Support.
With 1 Currency or with DEX, meaning either the overall caravan company would create a currency or each company would start making their own and the caravan or someone else is manufacturing them. But the central festival body would create a DEX if there were many (or use Hive-Engine), while with 1 Currency they could go on an exchange and say "there it is". These could then have an Access Credit, used like State Fair Coupons to be spent with Vendors or Events. Like a SXSW coin could be used to pay for access more granularly instead of buying larger passes, like maybe you just want to see 1 big keynote and go home. You can pay just for that.
These Tokens and Currencies would be industry specific, so several applications exist, and the best reference is Trade Unions and Credit Unions. But we can start by looking at IBM and their applications of the OpenLedger Fabric framework, to create the Diamond and Fish NFTs. If we have these in our mind, we can now see how these items can be traded on the exchange, but this requires a central body verifying that there is some value stored somewhere in that item.
For example, if it is a Diamond, it could be traded speculatively on a Diamond somewhere in the world that can be traded, but if I only have 500 Diamond Coins on the market those might be held by 100,000 people holding fragments, and it may raise passed any reasonable sale price for Diamonds and would be stupid for someone to trade in for the less valuable Diamond. And this concept could then be used to pay Stock Dividends, or to represent shares in a Company giving DAO voting capability.
You could also Clone ETH and as an example, a Grocery store, Farmer's market or Farm could create the ETH clone. They then focus on finding people to create dApps for use in the industry, and it would be like "insider knowledge" for store clerks to go home and set their laptop up, or buy an ETH rig to mine this easier to mine coin (at least at first it would be easier than ETH). They then would campaign to have more and more companies in the industry, and farms, accept it.
Farms and Markets, and larger Farm Corporations could create Tokens on the ETH chain. The issuer could then also issue Tokens with a Bridge Toll, knowing next year the Farms can produce that amount (like a Nileometer) to then be withdrawn later. And this will be possible anyhow as many people will Buy and Sell the coins on the market with no intention of ever trading them in, just Capital Gains.
For Large Organizations, I see NASA as a good example. They could Pre-mine 50% before launch, launch it and ask people to Buy and HODL, while promising only to dump when buying things all the HODLers want, and they can buy everything up cheap on NASA dump days, to then trade on other days.
[i]In Gibbons v. Ogden, 22 U.S. 1 (1824), the Supreme Court held that intrastate activity could be regulated under the Commerce Clause, provided that the activity is part of a larger interstate commercial scheme. In Swift and Company v. United States, 196 U.S. 375 (1905), the Supreme Court held that Congress had the authority to regulate local commerce, as long as that activity could become part of a continuous “current” of commerce that involved the interstate movement of goods and services.[/i]
How Institutions, Booster Clubs/Auxiliaries and Municipalities could work together, for example, for kids to earn a Truancy Token that acts as a Access Credit, but then can be cashed out by the students.
So, if your School, say a University or individual School, or ISD. You have the Truancy Token or Chain, it works on a Scot Bot type Token, either on Hive-Engine, Steem-Engine (why doesn't the Chinese Government take advantage of their citizen owning Steemit, and use it as a University Tool?) or as an ERC20 or TRC20, or maybe OL Fabric. Your Token connects to a SaaS attendance system, something like HotSchedules, the Token then is a Smart Contract that works like ADP.
But then, the City might have a Token, and maybe there is a Local Pizza Token, maybe Chic-Fil-a has a Token at this point and any of these people could give an allowance to the Schools for kids to choose to trade their Truancy Tokens for. So it doesn't have to be a Booster Club Token, it could be an NFT and be traded into an account to release other Tokens, hence Access Credit.
This same model would work with Churches and Religions, and the Church could end up in both a Municipal and Institutional role. So could a large enough School, or a Company. People can earn Rewards for being part of anything. And this works very well in a Benefit Society type institution. Basically, the Currency is your online Coffee and Doughnuts/Donuts.
The Punic Wax Network is what I am creating. It is going to be Mining Pools, Witnesses, as well as Mining for our own Clone of each and every type of Blockchain and Token. Then we will teach others also, and all of this will be on PunicWax.com
We will have like:
can be created to pay people, but have to be bought back. If you make a Bounty Currency you can go to Bounty0x.io and set up payments for Twitter posts, Facebook posts, etc. So people get paid to share about your Currency or Project.
Proof of Solar Power and Proof of Trees planted Blockchains, like Proof of ID mining. PoS can be done in any way you choose. There have already existed early blockchains that paid you to Solar Mine BTC instead of using Electric Grid Energy. And one that gave you a PoS share for planting a Tree. Grid Coin paid people to add hashing power to Cure Cancer and AIDS. All the Cancer and AIDS cures and treatments come from people like my Family, who put laptops towards mining Grid Coin.
(Proof of Stake v. Proof of Work), v. DPoS
PoS means you get a Coin, a Share, and earn an Interest type growth depending on what % of the PoS Coin you own. The more you own the more you get.
By holding a PoS coin, with an open wallet, staked, you are like a Bitcoin miner. You are moving the PoS Blockchain and the interest you earn is Block rewards for mining. This is much less Wasteful than PoW because PoW gets harder to mine as more electricity goes towards it. I will explain this and you will understand how Bitcoin started. If I clone Bitcoin and me and 1 Friend Mine it, we both get half. If we both add 5 laptops we are using more electricity but we both get half.
So, now of me and this 1 other person have these 12 total laptops doing this, kind of wasteful, and another person joins with 1 laptop they don't get 1/3, they get 1/13. So now maybe they add 20 laptops, and they have 21 laptops out of 33 on the blockchain. But now the first 2 people each add 20 laptops because they don't like what they lost to the other new person.
So you can see how this gets wasteful,
And Butterfly labs made ASICs, which then became a whole Mining Industry and created Mining Farms.
PoS has all this competition done within Staking, your Holdings are your Hash rate.
0% Premine means you didn't program any coins automatically in your wallet, or sit on it for days and weeks before making it Public. So it is fair, and everyone can get Coins and not have to worry about the owner killing his own Coin, selling lots and never buying anything. You can premine, but I would say like 5-10% max with a written plan for those. If you go higher than 10%, you better be handing out free ones or paying for someone to make things for the Community like Wallets, etc.
51% Takeover means someone owns most of it and can do whatever they want, usually this means time to sell and buy a new one before that holder sells all those.
Coins "finding their Price" means that the community will grow past what it is on day 1 and more people inevitably means a more stable market with a real price emerging later and not on day 1. Also, as more people want it, it gets more rare.
Bitcoin as a Gold Standard pegging the others to a value, mostly if Bitcoin goes up for you it is good for you, if it goes down it is bad for you, unless you can get those scared BTC sellers to buy your Currency with their coins. In which case it is technically possible to go up while Bitcoin goes down. If I only have $100 per day in volume of market sales for the Currency, and someone brings 1 or 2 BTC into the market ($100,000) then the price goes way up. Maybe then the daily volume goes to $5,000 and Bitcoin keeps falling while you go up.
Block Number, how many Blocks exist on your whole chain at any given time? And how many total blocks?
Block Reward, how many coins come out of each one?
Total Supply how many coins will exist total in the end, when all your blocks are mined? With no Cap, no end date, it will hurt the value as it inflates into eternity. Halving Block reward over time is discussed later, meaning that over time less coins can be in later block segments, do the chain keeps on going and coins get more rare.
Block Time, is Transaction times because it tells you how often a new block goes out to be found. So this is a massively important value because this tells miners how many coins they can earn (the less they earn, the more rare it is, the higher the value may go as those miners speculate). Block time effects how long your chain exists.
If a Blockchain has 1,000,000 Blocks at 1 second Block Times, it has a 1,000,000 second life span. 1 min, it has a 1,000,000 min life span. 1 hr, it has a 1,000,000 life span. It could also be 30 min, or 5 min, or 45 min, etc.
Difficulty, This means that as more people mine it gets harder as explained before. This also gets into Halving Rate. Bitcoin started with 50 in a Block and very few people mining, then more people started competing for those, so they became more rare but those early people had a bunch. Then it went to 25 per block, then 12.5 either recently or soon, and then it will be 6.25 BTC per block, etc, etc.
DPoS, Witnesses and SRs are like a whole other thing. OL and Bitshares were first, it is a system where the Coin holders vote on who can mine (Miners are called Witnesses), instead of everyone mining. TRON does the same thing and the Witnesses are called SRs. This cuts down on electricity usage also.
Mineable Tokens come in various forms, but there are ones where you can lock in Tokens, say ETH or TRON, to then Mine the Token. So you take your ETH or TRON, you send it to a Smart Contract that gives you mining hash rate in the contract, and you earn the Token. The more you lock in, the more you mine.
Attention Tokens can be best visualized by newcomers in the Basic Attention Token (BAT) proving how the name of a Token can automatically bring understanding as to its use, even with the kind of forced Tips by earners and new Browser which are both barriers to entry. The SMT model is much better, Smart Media Tokens (SMTs) were created when the Distribution of STEEM on the Platform became too strained, even with bots. So they had a Hard Fork in which a kind of node was opened to allow people to build on Steemit, because Graphene Claims like 1,000,000 Tranasactions per second or 100,000 or something, there was a lot of wasted Hashing power there, so they created the SMT framework which opened the door to Steem-Engine and APPICS, there was already Steemd. Steemit is like OpenLedger, and CryptoFresh is the Blockchain Explorer, the Ledger, for OpenLedger. Steemit works the same, then SMTs were built on top. So this framework locks you in the Steemit.com Ecosystem, now affiliated with TRON. But it is clearly easier for people to get into than Basic Attention Token (BAT), while BAT does automatically grab your attention. What I am waiting for is Steemit to host TRC Tokens.
Game Tokens could also work, from Video games (PGL/Fortnite V Bucks are comparable to each other to see the point where Game Currency, could be Market Trade Instruments), Forum, etc, to Game Tickets and Booster Clubs, to Unikoin with Marc Cuban investing is an example, etc, to Monopoly at McDonalds could easily be made into a Currency.
Mining Pools, supporting a Mining Project is almost like hosting a Currency, but you are opening a Node on another Blockchain. You open a Website, open a Node, use a Software from Github for a Pool, then people join your pool and together you gain hashing power like a Mining Farm, but from gathered hash rate all together. Then everyone gets paid but based on what they added to the Pool (from the software), the Pool keeps a fee, and the Software creator keeps a fee. When you join a Pool you can:
Get more blocks than you would alone, if you would get any alone depending on the Currency
Get paid 1 Coin for mining another, or get paid 2 Coins mining 1 Coin, the Pool keeping the other part of the one you are mining for them
Graphene Witnesses and TRON SRs are just like Mining Pools, but they are the only ones allowed to mine on their chains, with TRON having Tokens like Tron Europe Rewards Token (TERK) and other SR rewards to pay people adding weight to SRs.
Bitshares Assets were maybe the first Token for the layperson on maybe the first DEX. But the barrier to entry became too high as Bitcoin went up, and they became obscure. Also, Steemit became more central to Bitshares, and now HIVE and EOS.
Cross Chain Pegged Tokens are a Token with something like a Scot Bot, a Script, that issues Tokens as a person trades them across the chain. So, say I have a Hive-Engine Token and a Steem-Engine Token, the STEEM Token is called TOKEN, so now, if I want a TOKENP (Pegged Token) on the HIVE chain. I can send TOKEN to the STEEM wallet called @TOKENISSUER and the Bot will take that signal, go to the HIVE chain, read the memo and send coins to the Account in the Memo but on Hive chain with TOKENP.
This can even be done between say HIVE-Engine and EOS. And if I have a Wallet on say ExchangeTokensWebsite (whatever exchange), I can send TOKEN or TOKENP to the @TOKENISSUER from the exchange with the Memo, and it will put the other Token in the account. The Scot Bot type instance is a Smart Contract that makes sure there are never extra Tokens coming out somehow bringing down the price.
I am going to explain to everyone how the Crypto Markets work.
First, you have the Number of Coins, the people Mining and Earning Coins, listing them, this is the Sell Wall, any discussion of raising the price is about "Eating the Sell Wall", which is why HODL (Hold on for Dear Life) is so important, if we HODL, and not Sell. The Market stays upwards.
A Coin on the Market acts like a weight on the price, if I HODL my coin it is gone, it is in a Wallet, maybe Cold Storage or a DeFi contract. A HODL'd Coin is kept off the Market, not for Sale. If everyone has their coins for Sale at $1.00, and I see them there and want to sell mine right away, maybe I have to mess everything up and sell to the $0.50 buyer.
That is the Buy Wall,
Most people come into a Market looking to Buy Coins then and there, and usually this is great. If 10,000,000 show up to spend $100 each for Christmas, they Buy up the cheap Sell Wall Coins, then they keep Buying. They Buy, Buy, Buy and the price goes up, all these new people looking for coins here and now send it up, say it is at $5.00
If you want to by kind of Shysty, or Bearish, Safe, etc, you could set your Buy orders at $1.50 while this is happening, and maybe later it stabilizes and you get that, or a Miner comes to dump coins to Buy Family Christmas gifts, and they drop $50,000 in $5.00 coins, buy as they do the Buy Orders run out, so it goes to $4.50, $4.00, etc. Some people do this on purpose just to scare you, if you bought a $5.00 and it goes to $3.00 you might sell at a loss and go home crying, but that Bear Whale buys them up and lists them all for Sale at $6.00, able to do so because he saw all the people coming in.
So then there is the Buy Wall,
The Buy Wall is much more important than the Sell Wall. You need "Buy Support", to keep a Buy Wall. Some Coins have no Buyers, but if your Coin has an Environment like Steemit, BLURT or HIVE, or an ETH Discord Token Bot,
People will Buy the Coin to earn more Coins, or to Unlock things. That is Buy Support.
Buy Support also ensures that when the price goes down you have a Team of Bears who use your Currency so they see down price days and weeks, as Buy Time.
This then gets in to Dolphins, Whales, etc, and having lots of people HODLing a Currency in Community together. Just as an example of Buy Support, if Justin Sun made the Steemit Wallet integrated completely with TRON Link with DEX and Swap of TRC20/10 on Steemit. That's Buy Support
If he could get Alibaba (like Bitpay) to support the Steemit Wallet, the STEEM/TRX Environment could be #1