3 ms·
Not a crazy idea! I think this is the only decentralised system that can work long term. I’ve spent a long time thinking about it. Figuring out how to manage re
by rojeee 5y ago
Not a crazy idea! I think this is the only decentralised system that can work long term. I’ve spent a long time thinking about it. Figuring out how to manage reputation is key, which you allude to with your comment about needing a page rank type algorithm.
- captainmuon 5y agoFor reputation + value, I was hoping to piggyback on external exchanges. Your coin is just worth what people are willing to trade for it. If you mint more coins, you have to sell them for something real, or they are not worth anything. The hard part is the reputation transfer (or voting, or embuing). If you have 30 A coins and B puts 10% "juice" in them, does this mean you can use them like 3 B coins? Or can you convert them somehow? What happens when C puts "juice" in B? Or A puts "juice" in C? The potentially recusive nature reminded me a lot of Pagerank, but basically you will end up with coins that are a mixture of different coins, and you have to find an algorithm that converges. I also think the economics are going to be really funny because suddenly price does not depend just on supply and demand, but your coins are going to be better or worse for certain purposes depending on how the emitters vote. (They are basically giving out vouchers to a bit of their surplus depending on what you buy.)