Topic: [ANN] ORA :: NXT 'monetary system' currency - page 75. (Read 181197 times)

Great post Pentamon, thanks! You raise some very interesting points. 'One stake per Human' is my goal for Kora, and I think for many people interested in seeing crypto currencies thrive and do good in the world, it is the high water mark for coin distribution. For me 'One stake per Human' *should* mean that I can register a stake for my children, and my elderly parents, and other 'dependants'. Please note that I said *should*, because I know setting up a system where people could register a stake on behalf of another person would be a red rag to a bull as far as sockpuppeters is concerned, so preventing abuse by multi-account scammers would become a major effort. I think it is possible to setup such a system, but very difficult without requiring people to upload identity documents. I believe eventually someone will propose a coin with 100% POS free distribution, and they will try to airdrop to a particular community based on 'One stake per Human' using some form of identity checking.

Many financial institutions are required already to collect identity documents for AML & KYC purposes, so I think eventually a big player will try and bootstrap a coin on a mass scale using existing document collecting & verification procedures. Many people in the crypto community NOW obviously value their privacy, so many would be against a coin that asked for identity documents, but I think it is almost inevitable somebody will do this, and they'll probably be very successful - 'free money if you upload 2 identity documents and install an app on your phone' - It is inevitable.

As for your suggestions regarding the problems with distributing all the coins at the beginning, I like the idea of issuing larger amounts to people who acts as 'redistribution agents', and then those people distribute to new people etc etc It has a lot of appeal.

I think the problem is 'trust' - how can you force the people to distribute and not hoard? It's the 'tragedy of the commons' (similar to game theory), and everyone has a strong incentive to NOT distribute to the next level, and hope everyone else does so the coin survives but they have more coins.

Many would argue that the best means of distribution is selling for profit by the first batch of stakeholders, and then as the price slowly goes up, new entrants sell/distribute to the next wave of users, and then the price goes up a little more so they sell to the next wave etc etc. I can see problems with both approaches, (i.e. distribute via selling for profit vs trusting the 'distribution bankers' to honestly distribute and not cheat), but the goal of saving coins for later distribution is very worthwhile.

I am a big believer in the potential of DACs (distributed autonomous corporations), which in my mind are software that has been programmed to perform all the functions of a business. Many businesses, especially ones involving money *could* be programmed into software without the need for human intervention. The functions of Banking, insurance, stock issuing, bond issuing etc could be fully automated one day, and eventually I think DACs will revolutionise many industries, in the same way the internet already has.

I believe in the not too distant future it would be possible to program a 'coin distribution DAC' that was capable of distributing coins over a long period of time using identity checking in some automated secure way, that would allow coins to be distributed slowly, so later generations of people could still get a fair share.

Instead of having people act in the role of 'redistribution bankers' as you called them, the DAC could be programmed to perform that function. If the DAC was programmed 'correctly' the coin distribution could happen over years, and it would not require 'trusting' anybody, and everything would be transparent on the coin's blockchain.

I think a DAC distributed 100% POS coin is the long term answer for crypto currencies - POW is flawed, but 100% POS coins have the 'how do we distribute fairly' problem. NXT & Qora had very poor distributions, NEM was better but still not very wide, and it doesn't allow for any distribution to late comers.

The long term fair distribution is obviously to use your suggestion and NOT distribute all the coins to the first wave of users so you can keep coins for later users, but who can we trust to safe keep the coins and honestly perform the 'One stake per Human' check? Answer, a distribution DAC!

Crypto is evolving. Bitcoin was like the first early human ancestor who climbed down from the trees in Africa. NXT is like the first human ancestor to use a stone tool. Qora, NEM & Kora can all make evolutionary progress, but if we're honest they're still basically hairy man-monkey creatures walking around - they're like homo erectus & neanderthals, and not the equivalent of a modern human. A 100% POS coin distributed by a DAC using identity checking would be very close to a 'fully evolved crypto' IMO

PM me again since my inbox is rather chaotic. And include email in the msg.
This goes for anybody who has sent me a question or issue and recieved no answer for ~24 hours. PM and remind me.

Me too!? Already pm you

PM me with the email you used to sign up and I'll see what I can do for you.

I haven't received a vertification mail yet.   

ye plz   publish a list

Will you publish a list of accepted non-sockpuppet user names?

   it is honor  to be a menber with kora

Me too!

Registrations are now closed.

Total non-sockpuppets: 1270
Note: A "non-sockpuppet" is an entry which the system has not detected and flagged as a...you guessed it, sockpuppet. Simply put these 1270 entries have seemingly followed the rule about only 1 stake per household in the OP.

Of these 1270, 927 have verified their BTT ID up to this moment. This is the list of people we are to go through manually starting now. Before we get an ID verified we assume the entry was made using another person's BTT ID. We will decide how long the other 343 will have to send me a PM. I've sent everyone a reminder over email but might do it again later this week. For now, it's still all good to send me PM if you want to be verified.

So to summarize:
We currently got a list of 927 entries to go through. This is what the final list will be based on. More entries may be added before the final list is completed. This is because more people might verify their BTT ID. The reason we go through these entries manually is to spot anything suspicious, like two or more entries sharing  99% identical data. We do not yet know exactly how long this extra filtering process may take.

PM me for any issues or questions you might have.

Cheers!

I'm looking forward to seeing how many real people signed up!

Countdown over! Congrats everyone!