Reworded below...
Hi Cryptonick,
There are interesting things here, but it needs to be a little more clear, especially the beginning (1st section) , could you make it ?
I will give it a shot...
There is a conundrum with any crypto. It takes FIAT to buy BitCoin unless you Mined it initially or have 40PHash kicking around, then taking that BitCoin to buy an Alt-Coin in order to then Buy something with that coin or participate in its economy. Most people who buy are looking to cash in at a profit and leave period, buy low - sell high. So the coin market cap can be syphoned at anytime by any group or even just by large transactions trading back out to BitCoin. Volatility is not good for stability.
So to deter this type of behavior some measure needs to be in place to protect the economy of the Alt Coin. This is where suggestions are welcome.
I have devised an idea to utilize ebay in what I call "obey" or payment processing through "O-Pal" and possibly attract ebay users curious about Crypto. This is meant to be as a separate way to process payments and not really intended to subvert ebay, but it just works out that way. Although you could just take the final value and send it as Opal but you still have to pay ebay their final value fee in USD so it is not level since you are helping build an Opal base and should get a break there too, but it could be legitimized by paying the full fee. Shipping is always paid in FIAT though since you have to pay a fee based on that also.
What I was hoping to accomplish was making a Colored Coin after a successful transaction on the O-Pal service created for ebay auctions. Opal would be paid in to the auction number using the "Best Offer" API from ebay and a preset code attached to the sellers wallet which is their ebay username as an ALIAS on Opal. The Opal is sent and after every transaction you only have 30 days to dispute it or it would automatically send the funds. So there would be some type of recourse involved. Since everything transacted in Opal there may have to be a way to see how much BitCoin came in to tell what the Ratio was for Market Cap also. Just to be fair since people who own Opal now didn't pay as much to get in or may have paid more but can not leave now. And the Ratio may be necessary to make it so people can not just buy and sell things to themselves. So it is still based on a real Market Cap of BitCoin coming in but then it is protected from leaving, and if the money does leave percentages are taken away and burned.
Although people could still sell their Opal openly to anyone at least the main exchange will not be participating in devaluation. It just means if you buy this coin you mean to use it and only profit internally not externally or as much as can be protected.
When coloring this coin with the auction I was hoping to denote the value of the auction to create an internal Market Cap, but anyone who has the product would be able to resell it or its value is diminished as it is a used product and market cap would be higher and would need to depreciate over time, but it still related to money going in if a Ratio is used. People would be buying in through BitCoin though so it could still represent the actual colored coin I guess if we synch down the exit of Opal to BitCoin. So technically this could still work since the Opal came in at one point as BitCoin and people would not be able to place low buys from an exchange and must buy at a certain price since the BitCoin went in and we don't want to devalue the coin. It is fairness to all those participating and if everyone holds the value skyrockets. You now can buy more products with less Opal on every transaction that occurs on Obey/O-Pal.
So this would grow exponentially if we protect it. Creating a new Exchange wallet that has the math built in to see what colors were made and then only allow sells at certain prices. Or we create PoW that equals the buy in, once a BitCoin order hits the Exchange the Difficulty could drop to create that coin and a portion goes to the miners like a fee. It would be instant though so placing an order has no wait time, BitCoin could also stay in reserve since maybe no one wants to sell out, this only drives up the Market Cap. People selling out have their coins burned since they already came into the Exchange and had a huge percentage taken out. Or possibly do the same with PoS. Difficulty would stay so high if no BitCoin enters so that protects the Opal and has an equalibrium closer to current PoS shares. This could be worked out by the devs who know best though...
It would seem centralized, but its not, since the whole point is to protect the BitCoin that went in from coming out since this equals the Market Cap used to buy products internally. So the only real people going out to BitCoin would be Merchants selling brand new products. They have to pay for their products in FIAT so they must take their costs into consideration. But the fact is most people who may want to use Obey or O-Pal will most likely already own the product and just want to participate in Opal and put their products up instead of BitCoin.
So the Market Cap would start out very small and people who get in first can grow their Opal as an Exponent since others will jump in later. Then as long as the Market Cap is protected people will want to tell other people on ebay or word gets around and others try it and it just keeps building and building. Every transaction now becomes worth instead of just churning out a transaction back out to BitCoin. Then also to compliment the fact that if they buy Opal and pay for something on ebay using O-Pal they now grow their Opal too when others do the same. So they have more power now, and it is like ebay bucks on steroids!
I think this will work now, let me know if it can be secured better as I know the functions can be written by the Devs. And to top it off the only other Merchants may actually be Digital Download providers who may be happy to accept and participate in Opal (since it only grows exponentially) and people can then download their products with the goods they sold on Obey or O-Pal.
Oh wow long post again... Sorry
