Topic: [ANN] TIMEREUM (TME) VERSION 2.0: "ELIXIR" (ELIX) RELEASED (NEW THREAD) - page 77. (Read 126691 times)

I like when a contract works and brings some benefit, for example, tokens are used for lending. But the old questions still remained:
1. Initially, the total amount of TME was limited to a maximum amount for 10 years in 50,000 for a couple of addresses. The number of pairs of addresses, as I understand it, is several thousand. How is it planned to limit the infinite growth in the amount of TME, if any lending transaction will generate new coins? I see only a very very low interest rate on the loan. If the couple parent-child addresses roughly accept coin generation as slightly more than 1 TME per day, then in the loan agreement it can be about 0.0001% -0.000001% or even less per day. Considering that such contracts can be thousands. But then will such rates be attractive? How else can unlimited emission of coins be avoided? It's all about numbers and how to calculate them.
2. The case of non-repayment of credit is not clear. This gives rise to the idea that the lending mechanism will in fact be used to generate coins by the owner of the addresses, and not for lending between lenders and borrowers. Now, if there was any mechanism of collateral in the ETH, with the mortgage automatically returned to the borrower when the loan is returned. After that, the creditor and the borrower received remuneration under the contract in TME. Moreover, the pledge of ETH for the time of the loan would have been frozen at the creditor's address, so the lender could not make transactions with collateral coins. If the borrower does not return the loan at all, the mortgage is forever frozen for both the lender and the borrower. As soon as the overdue loan is repaid, the pledge is returned to the borrower who receives the TME reward, and the borrower does not receive anything for the delay. In such a scheme, the borrower is interested in repaying the loan on time to receive the reward and return the collateral. The lender is more confident in repaying the loan, at the same time he can not steal the pledge, since the ETH pledge is frozen. In a pair, a parent-child coin generates a transaction of any size. In the credit pairs of addresses, the contract will be executed only with a full repayment of the amount? And how then to be with the repayment of the loan in installments, in installments? This situation can arise if the borrower simply returns part of the loan. Will the loan agreement be considered fulfilled and generate a reward to the creditor? And if the borrower took 1000TME, returned 100TME, did not receive a reward, but remained with 900TME profit. And the creditor received a small reward, which does not cover 900 loss coins? I believe that in the scheme with the ETH mortgage it is possible to take into account the contract executed only with full repayment of the amount, including by installments. Consider the possibility of implementing a scheme with a mortgage if at all possible?

I sent more 0.00227 btc https://blockchain.info/en/tx/d5c8ad5e40109a6fe326b6975da519c568a34e65232bbf0b5a2765346643aaa2

Common guys donate to get listed on novaexchange

If 48 people who receive TME donate 0.001 btc is enough for dev to pay fee on novaexchange

It really is an interesting concept. It is a little tough to wrap my brain around it all, but I have faith in the Dev. I'm sure once it gets rolling it will become much more clear.

quite interesting concept i will have a look more in dettails!

It is very interesting concept of lending reward but need to read carefully to understand everything. I have gone through the whole explanation in hurry to catch up with big and important points. I must say it is interesting and that's why I have put it apart for reading at later time when I have free time just for this. Looks promising at this point.

Initially I too expect there will be more clever miners than real lenders, as many readers on this forum are individuals interested in buying or mining cryptocurrencies. But once a bank or lending service gets undercut by a lender offering lower interest rates for equally risky loans, larger players will likely pay more attention.

In addition, how do you propose to control inflation since lender A can lend unlimited times?

This should be covered in "Combatting Long Term Inflation" in the Dynamic Pair Lending document. If anything is unclear there, I can elaborate more.

TimereumDev Why on etherdelta.github.io no trade? Any tokens are added can

I really appreciate your lending reward scenarios. They clear some of my misunderstanding.

But IMO, most lenders A will do clever mining instead of lending their tokens to someone else. That way, A can earn more rewards (for both lender and borower) without accepting the default risk.

In addition, how do you propose to control inflation since lender A can lend unlimited times?

Thank you dev for the prompt release of this non-technical / average joe  explanation of how timereum makes you income, besides holding the tokens !

You will mine TME. If you send it to parent address 0.1 TME, you will get around 1250 TME in your child address

what will happen when send TME to parent address??

Nice work, dev.
Could you use actual numbers and figures if you explain next time? Maybe I understand the mechanism but I'm not sure these incentives are enough strong to work. I'd like you to explain what the benefit of holding TME or this new currency is as well. Thanks.

Great job! I put the whitepaper on my kindle. I believe in this project. Fantastic Idea of self mining!

Great job Dev!!! Thanks for continuing to work hard on the success of this project!! Keep up the good work!

This helps spread the word for sure. Always good to have something tangible for people who still have questions.

thanks dev for the document, timereum is in a good way i think. I can waiting any month for discover a great exchange for us

Considering the fact that TME wasn't even created 1 month ago, let Dev the time to make things clear. As we read it few posts ago, his full dedication to the project can only be seen as great news! It also means the published roadmap will be built up then brought to the real world even faster than expected  

What would happen if a borrower decided to default on his debt?

If the borrower cannot pay the principal and interest, there is no reward for either party (see the section "Total Failure"). Please also read the section "Partial Failure" for an example in which the borrower manages to pay the principal but not the interest.

Is there any kind of punishment or recourse?

This loan system is meant to replace how loans are distributed in the real world. Punishment or recourse would likely be dictated by the lender, as is often the case already. This new currency will have a competitive advantage because it will further incentivize a borrower (beyond any legal ramifications) to play by the rules, and a lender to adopt this new currency.

And how can an interest rate be set?

An interest rate is set by the amount sent from the borrowing address to the burn address upon locking.

What would happen if a borrower decided to default on his debt? Is there any kind of punishment or recourse? And how can an interest rate be set?