Everyone is about to see how Blockchain works.
Remember how I always made it work before?
Topic: Tokenomics of VKRW (Read 78 times)
Tokenomics is kind of a new word in Cryptocurrency, and I've been so analytic of the Economics of all of this for years that when someone first said it to me, I didn't even know what the Word meant, but then I looked it up and I kinda felt like some of it comes from reading my threads. Anyone who reads this will know a little more about Tokenomics than everyone else.
So,
I have been saying since ERC20 Tokens started that we need DEXs and Alt-to-Alt exchanges like CCEX was. This was advanced by EIP-1167 which lowered the price of Cloning Contracts. 3 Days Ago TRON Changed their SunSwap protocol and just implemented Token-to-Token(this was written 3 days after that), beyond that we can see Aggroed and STEEM-Engine, and HIVE-Engine as exemplary Tools in this field, Rivaled only by like BitShares User Issued Assets (UIAs). This new TRON protocol will allow, for example, me to Buy the Token of a friend and keep their Token alive with mine, that option becomes available when I can create a Trading Pair.
If we then look at Tokenomics as it exists today, it seems to have been developed from reading Bitcointalk threads, as if you have been part of Bitcointalk for a while, you will at first glance see that Tokenomics primarily consists of what we call Specs on Announcement threads, the Specs of the Coin, the Total Supply, the Decimal, the Name, the Symbol, etc, etc. From there Tokenomics basically seems to just be a description of how your Coin will have a continued Value. This was a big Problem in the ICO and BitShares UIA world, and the main answer has been Buy Backs and Burns.
So a Buy Back and Burn should be more popular now, that is you create a Fund that is meant to Buy Tokens back from Customers. Much of DeFi currently does Burns, but forgot the Buy Back.
If I say "30 Days to $500,000 Buy Back", or even like a $10,000 Buy back, if your customers have Warning, they can go Buy up all the Cheap ones and raise the price way up, the you Buy up even higher, so it's a Win Win as everyone competes to get the most of the Buy Back Amount. This then works in reverse also, I can say "We are about to dump $100,000 of Coins for a Land Development Project to advance the Currency", and everyone who needs to can Sell, while everyone else gets ready to Buy, because the others are Selling and you are about to Dump on them.
So adding more to the Buy Back and Burn in terms of putting out intentions, and preparing your customers, and having them be able to Trust you, they don't have to, but when they see you doing what you are saying you'll do for them, they can start to trust other things you are doing.
Much of Tokenomics is in Loop Mining, and Staking, the DeFi platforms for Loans and Swap, theses are kind of like ready made DeFi multitools, like a Swiss Army Pocket Knife or Leatherman/Garmin thing, but there are several other things that can be utilized like Gas Mining, or Developed like what we are doing in the Van Kush Family. But we intend to show everyone how Blogging and Social Media need to be attached to this, and we are basically defining MetaVerse now.
We are starting with
10,000,000,000 VKRW
Most of that will go to Bounties, we do not have a set amount and it will go where it needs to, with a Bot Rewarding Telegram Activity with the Admins Validating everything.
So 50% or more will likely go to Rewarding Social Media Activity and other Bounties, probably more than that. This will also include rewarding Developers, as we will constantly be creating new Software to bring Blockchain to Social Media, and Forking Blockchains. This includes Cloning Wallets, Browsers, DEXs, etc. We will be Cloning and attaching to every Blockchain, and creating Tokens everywhere, paying for Developers.
We have Ambassadors who are given between 10,000 VKRW and 50,000 VKRW, who then open Wallets giving everyone 500-1,000 VKRW each. They can get more when they run out, and will also be given Grants for Cell Phones, Computers, Data, Housing, WiFi, Advertising and Recruitment, etc. These Ambassadors will also onboard Influencers and Businesses in their areas to create Currencies, which we will give Grahts for and Invest in.
We will be hosting a SunSwap Clone called KulaSwap and Cloning various DeFi Technologies such as Centrifuge as we merge Mining Pools, Swaps, DEXs, etc, and create an Ecosystem of Tokens moving around. This will also include other Telegram Rewards groups, TRC20s Rewarding Steemit Hashtags, etc, etc.
We have also invented the Concept of a Burn Mine, with Minable TRC20 Tokens that you Mine by locking away VKRW as TVL and earn based on your input, providing you a Hashrate in relation to all VKRW in the TVL.
"Now users can directly add liquidity to trading pairs of any two TRC20 tokens;
V2 includes a new swap routing protocol that can automatically recommend the optimal swap path;
A new liquidity migration feature has been added, allowing users to migrate liquidity from SunSwap V1 and V1.5 to SunSwap V2 in a quick way;
The user interfaces and interactions for swap, liquidity pools, the explorer, and other modules have also been improved.
“Committed to building long-term value, SunSwap has made significant progress in improving its functionalities, user experience, and security. We are confident that as V2 goes live, it will surely deliver a better user experience.”."
– The SunSwap Team
We are about to do a few things in DeFi so I wanted to let everyone know some of what is going on.
Most people in this thread know about TRX and are mostly leaning towards like not being completely against using it. And because that is an obscure subject, that itself will help clear this up. Justin Sun Forked Ethereum and made it a Java Clone, this was after the Ethereum and Ethereum Classic Forking Event a.k.a. the EtherDelta hack, when people thought Forks were kinda not worthy, until ETH became the Consensus and the Fork, so seeing that Justin Sun and others Forked, creating different uses, one example was ETHzero with no Gas Fees, Ethereum itself plans a switch to PoS mining unless that has changed, and the TRON or TRX Java Chain uses Super Reps, which are like OpenLedger or Steemit Witnesses, which means that they are Elected by Vote by Shareholders of BTS or STEEM Instituting a DAO and Mining Pool that operates like a Host for a Website. Ethereum and Tron both do this with the EVM, but Graphene (BTS, STEEM) has a faster Transactions Per Second (TPS). The Super Rep or Delegated Proof of Stake Chain provides a Proof of Stake Model which can be which is more sustainable than PoS generally, because if we look at Peer Coin or other Proof of Stake Currencies based on it, we can see a less useful Model than DPoS, because the Witnesses or Super Reps can then take these massive amounts and put them towards community building Projects. When Dan and Ned Launched STEEM, people in the Cryptocurrency world thought it was an Abomination they would hold so much, and really any Coin at that time with a Premine at 50% or near that was considered useless. These kinds of Currencies could easily work as Government Departmental or Political Campaign Bodies, with Blogs, Forums, etc. like STEEM or with DeFi and other aspects like Tron, which is meant to be geared Towards Gamers generally, and is with ETH as one of the Top 2 in notoriety in the World.
The general complaint about Tron (TRX) is the Centralized aspect that comes from the Super Reps, many believe Cryptocurrency should not be so Centralized and will not involve themselves. What TRX does though, is make everything Clonable straight from ETH, all ERC20 can be Cloned to TRC20, and now they are offering Token to Token Trades, and we will be building into this Environment.
So this gets into what we are doing. We are launching a PancakeSwap Clone and Graphene Blog Vote Buying System, with a Telegram Rewards Token for Selfies and Social Media Tasks. We then will be Building what we are calling a Burn Mine.
Burn Mines
No links to bttindex.php?topic=5379409.0
We also plan several other DeFi Clones, and additions, which will build into what is being called MetaVerse, as Facebook Transitions. This will include 2 Social Media dApps made up of several dApps and Tokens, which will bridge several Blockchains and Social Media Platforms. We will then also have a Token on every Chain, and Clone of every Chain, hosted in 1 place with Mining, Trading and Discussion, so everyone can learn there and use all our other stuff while learning every other Blockchain in a system they can refer to later in their Memory.
Something that needs to be mentioned that may be being missed,
When Ethereum started there was the issue of Token Oraclization, and Forking the Chain, this then became a period of ICOs and World Wide ETH Seminars about Cloning Chains and using Testnets. What we are seeing how in DeFi is DEXs and Swaps, the DEX primarily existed in Ethereum EVM space, then Steem-Engine/Hive-Engine, ICOs on ETH were $10,000-$200,000 and with each chain that hosts Tokens it becomes an Advantage to come in early, so you hold this Utility Coin on a Blockchain that hosts Tokens. The Price barrier was dropped with EIP-1167, but there really has yet to be an extremely useful Token Mint outside of Hive-Engine and the other Aggroed Technologies, which should be seen everywhere, but are still rare. We should see options for Tokens and Contracts for Sale like Aggroed has, all over the Blockchain Universe. Like Discord Admin Bots, and Business Rules Engines, we should be seeing a lot more Tokenization and Rewards brought as Deployable on a DEX, with Staking, Distribution, etc, etc.
At one time there was a Coin called YouStocks, and I posted in their Thread, it would have been years ahead of it's time now that it doesn't exist, and the Developer completely disappeared. What these were would have been Stocks tradable for 1 ETH Clone Chain Token with its own Miners, so everyone was Mining it, and getting ready to have a Token Mint that was as integral to the Blockchain as Ether Mist, or MetaMask. Like Hive-Engine. This should be seen all over, and there should be a heavy emphases on adding Scripts to the Blockchain, there should be integration into existing Technology like Telegram, Discord and the coming MetaVerse.
And dApps should have less Focus on Gambling, and ROI Scheming, and instead be focused on things like building Tools for people to use. If we saw more dApps that had regular things that people already use everyday, but built on Blockchain, then they could use it. For example emails could be Tokenized, Subscriptions, etc. And we could start seeing things like Highly Developed Airdrop Tools that build lists from its History, provide settings, provide storage for organized lists with names, and create a Space on the Blockchain for people to use to create a Career in their Token or other people's Tokens. There could be all kinds of Mining Pool Development, Graphene Clones of Telegram, Twitter, YouTube, etc. Everything can be put onto Blockchain.
If we look at DevCoin they were basically the first ones to create a Rewards Pool, where it was either a basic SHA or Scrypt Coin, like Bitcoin or Litecoin Cloned, but the Specs or Tokenomics included an unlimited Supply with like 180,000,000,000 made per month, distributed to Miners, and then the Mining Pool had a Script (DevCoin and DevTome are on GitHub), that would give 10% of the Rewards to Writers on a Wiki. Rewards were not Voted on like Steemit, but 1 Share was awarded for every 1,000 Words, and if 5 people wrote 1,000 words each it split 5 ways, if 100,000 people wrote 1,000 words each it split 100,000 ways, making it more Rare at that point.
They did not understand that and it didn't work, the Aura Dev ran off so that didn't work either, and Steemit and HIVE are stumbling trying to find their Balance, with Aggroed kind of in the middle. So now I am building the needed Rewards Programs.
And this is DeFi, but it has always been part of Crypto.
Proof that it can work, through a Philipino Scammer who uses Community based Tokenomics with no intent of it ever working:
There is someone named Henry James Banyat, who has been scamming people on the internet for years. He apparently has some level of programming skills, it seems he has the ability to create a Portal basically, and can create little Wallets with Values, as in like a Native Website Token, not a Cryptocurrency. And I guess I have to describe the difference now. So if I create a Native Website Token that is not a Cryptocurrency, it could be done from Scratch or copied, it wouldn't be Mined, you could set up rewards so people can earn it, or make it where they earn it for navigating through webpages like Cookies, Tokens that are released as you land on a page. Or as you play video games you might earn them. The example everyone can look at would be like World of Warcraft Gold or GaiaOnline, or pretty much any videogame or online Currency. You don't Mine it, you don't take it to an exchange and sell it for USD, the only way you could make money is to like sell it to another video game person on eBay who wants your Tokens. Henry James Banyat can create these, and has since before Bitcoin existed, his original one was called like eGold, and it was just a scam to get Older Americans to invest in something that isn't real. He is in the Philippines so he can't be arrested for crimes in America.
He then found Bitcoin and Gridcoin, so he started telling everyone to hook up as many laptops as they could, abd teaching them how to mine, but they were to do it through him. And he would get all the Gridcoins while you got a BTC balance in a Wallet on his portal.
So now, after Gridcoin is over, he has everyone's money and they have an imaginary balance. A balance they are waiting to retrieve. And Henry continues to say that he will make them accessible, and does not really make clear to everyone that he has no Bitcoins, that there is not a real Balance for them. He is just taking from them.
I didn't understand that at first, my Mom brought me in after Gridcoin was done, and I saw a community, I even found they had a Currency called CompuCeeds on BitShares (real Crypto Tokens), I found it on CryptoFresh, and I was like "Wow, my Mom found something, whenever I visited her she mentioned this, but I guess it's real". So I join, and start reading their Private Forum where you have to be a member, and give them your Driver's License, etc. They ban anyone that says anything bad about them, it's not a place to criticize them, they just offer instructions and prayers, they pretend to be very very Christian, and most of their clients are Old Rural Americans. They tell us CompuCeeds are a $1.00 pegged coin, that we will be able to trade our CompuCeeds on the Market and cash out that balance.
I thought they really wanted it to work, reading this you might even think (if you understand Crypto), "How did it go wrong", and I'm telling you, there was never a plan for this to go right. They just wanted to take our Money (a lot like Texas COVID Relief funding)
Understanding Markets,
I start teaching everyone how it works, teaching people how to Buy CompuCeeds because they are going dumped on the Market for Pennies. And what does he do? He dilutes the Supply through inflation by Minting like 10x the Tokens that existed before, and dumps them on the market to anyone buying for 1 penny or half a penny or a quarter of a penny, he just ruins the Price, just murders his own Economy to put money in his pocket.
Never brings in investors, never announces anything on Bitcointalk or invites anyone to Join that could actually buy Coins. It was just never his intention to make it work, and he continues to string them all along telling them that portal has real value behind it, and no one can arrest him.
Not many people know about this, and it is probably even a faint memory to those who do. But I want to explain this to everyone so this Crypto Anti-Trust Group can not just be a crime reporting group, but what to do to do it right. And I will include both in this one post.
https://www.coindesk.com/mcxnow-cryptoexchange-suspends-trading
Doing it Wrong
MCX Now was a Crypto exchange, you would go there to buy and sell Crypto. And there was a Chatbox called a Trollbox, but it created a community, and you could advertise your coin and everything to get it listed and get buyers, so it became a popular site.
The owner decided to make a MCX Token, and they would be bought over 2 days, each representing a share. Then the shareholders would earn that share of the website operating fees.
He sold $3,000,000.00 worth of these Tokens in 2 days, and he shut down the website and left. Never heard from again, that happened and 7 years later no one knows where he is as far as I know. He just shut it down.
Doing it Right
If you go right now and spend $15,000 on Silver, you get about 30,000 grams of Silver. It is about $0.50 per gram. For comparison, Marijuana is about $10.00 per gram.
Now, go on Steem-Engine and make a Silver Token, backed by Silver, and state to everyone that you are selling them at Silver Market value (spot or slightly above, but just use spot) if you make 30,000 Tokens, 1/10 Market value if you make 300,000 Tokens. Tell everyone they can redeem them with whatever limitations, meaning maybe everyone had to wait 6 months to start redeeming. Shipping and Handling, 1 oz minimum, etc.
But explain to everyone that they can go on Steem-Engine and sell it above Spot. And you buy them up yourself when you can to save your silver, and make your Tokens more rare.
Now you have a Token that the holders identify with Silver, you can even share photos of the Silver on Bitcointalk and Steemit so everyone knows it is real. This means it is pegged to the price of silver, unless someone sells it cheaper by choice, in which case you and other holders can buy up to exchange for real silver.
So Silver changes value, your Token changes, both variate independently, but the Token is more dependant on the Silver because you can trade it in. But it could very well go above the price of Silver, and likely will as more people learn about it.
Part of what made STEEM successful was me being there, there is a Framework for how to make Currencies work, and you can see the Framework Modeled very well in DOGE.
DOGE was a Joke,
"Much Currency, Very Wow".
To understand how it happened, you have to understand where Crypto was as a Technology. When you join in Mining Today, if you want to mine Bitcoin Profitably you need to have a large Hash rate, you are competing with Mining Farms. Otherwise you have to Mine smaller Currencies with less competition so your Hash rate is competitive. When Bitcoin started you could use 1 Laptop, when it started it was just 2 people Mining, then they shared the Technology out and it became a Novel thing, not even a Video Game Gold, just a Wallet and a Hash rate, and the ability to send it to each other.
Then one guy, probably sitting at his Mom's house, had 10,000 BTC, worth nothing. And traded them for 2 Pizzas, that was the first trade ever. Soon after, it was on the Silk Road as the Currency and you could buy Counterfeit Money, and have Heroine delivered by the Mail man. Eventually they were about to add a Human Body Parts market selling Ears and Noses, etc, when the Government took Custody.
But,
While that was happening Litecoin was created, a new Algorithm, Scrypt. This happened because Butterfly Labs was creating ASICs which blew CPU (Computer/Laptop Mining), and GPU (Gaming Processors), out of the Water and no one could Mine Bitcoin anymore, so they switched to Litecoin. At first there was no way to use an ASIC for Scrypt, but someone figured it out and they made Feather Coin to make it easier than Litecoin.
This kept happening until they made the CryptoNite (like Superman) Algorithm, for CryptoNotes (like Monero).
But before that, after Feather Coin or around the same time, was DOGE, a Joke and a Coin with so many in a Block everyone had tons, so they made threads to hand it out saying "everyone post your wallet for Free DOGE", and that made everyone invested. This works well for Proof of Stake also, which is where STEEM comes in.
Steemit is Delegated Proof of Work and Staking, so the Bitcoin type Mining is Voted for, meaning all the nodes can be held open by Laptops, then everyone else earns by Proof of Stake and through Votes on the Platform.
So what we are seeing is Currencies that have not just the new Tech, but that put it to uses that are accepted by the general public in a way that then becomes what is called a Meme, that's the best word for it, I don't like the word Meme, as you could call anything a Meme that becomes a Cultural icon but here it fits because it's about Internet Gifs and Banners, etc, which stick in your head.
But there is an element further than that which can be seen in the early joke coin BBQ Coin, which did start being accepted at a few BBQ places and then we can see the same thing in Gold/Silver for Bitcoin, or what we are doing in Soap for Crypto, these are all more than a Meme and ground the Currency.
So,
I have been saying since ERC20 Tokens started that we need DEXs and Alt-to-Alt exchanges like CCEX was. This was advanced by EIP-1167 which lowered the price of Cloning Contracts. 3 Days Ago TRON Changed their SunSwap protocol and just implemented Token-to-Token(this was written 3 days after that), beyond that we can see Aggroed and STEEM-Engine, and HIVE-Engine as exemplary Tools in this field, Rivaled only by like BitShares User Issued Assets (UIAs). This new TRON protocol will allow, for example, me to Buy the Token of a friend and keep their Token alive with mine, that option becomes available when I can create a Trading Pair.
If we then look at Tokenomics as it exists today, it seems to have been developed from reading Bitcointalk threads, as if you have been part of Bitcointalk for a while, you will at first glance see that Tokenomics primarily consists of what we call Specs on Announcement threads, the Specs of the Coin, the Total Supply, the Decimal, the Name, the Symbol, etc, etc. From there Tokenomics basically seems to just be a description of how your Coin will have a continued Value. This was a big Problem in the ICO and BitShares UIA world, and the main answer has been Buy Backs and Burns.
So a Buy Back and Burn should be more popular now, that is you create a Fund that is meant to Buy Tokens back from Customers. Much of DeFi currently does Burns, but forgot the Buy Back.
If I say "30 Days to $500,000 Buy Back", or even like a $10,000 Buy back, if your customers have Warning, they can go Buy up all the Cheap ones and raise the price way up, the you Buy up even higher, so it's a Win Win as everyone competes to get the most of the Buy Back Amount. This then works in reverse also, I can say "We are about to dump $100,000 of Coins for a Land Development Project to advance the Currency", and everyone who needs to can Sell, while everyone else gets ready to Buy, because the others are Selling and you are about to Dump on them.
So adding more to the Buy Back and Burn in terms of putting out intentions, and preparing your customers, and having them be able to Trust you, they don't have to, but when they see you doing what you are saying you'll do for them, they can start to trust other things you are doing.
Much of Tokenomics is in Loop Mining, and Staking, the DeFi platforms for Loans and Swap, theses are kind of like ready made DeFi multitools, like a Swiss Army Pocket Knife or Leatherman/Garmin thing, but there are several other things that can be utilized like Gas Mining, or Developed like what we are doing in the Van Kush Family. But we intend to show everyone how Blogging and Social Media need to be attached to this, and we are basically defining MetaVerse now.
We are starting with
10,000,000,000 VKRW
Most of that will go to Bounties, we do not have a set amount and it will go where it needs to, with a Bot Rewarding Telegram Activity with the Admins Validating everything.
So 50% or more will likely go to Rewarding Social Media Activity and other Bounties, probably more than that. This will also include rewarding Developers, as we will constantly be creating new Software to bring Blockchain to Social Media, and Forking Blockchains. This includes Cloning Wallets, Browsers, DEXs, etc. We will be Cloning and attaching to every Blockchain, and creating Tokens everywhere, paying for Developers.
We have Ambassadors who are given between 10,000 VKRW and 50,000 VKRW, who then open Wallets giving everyone 500-1,000 VKRW each. They can get more when they run out, and will also be given Grants for Cell Phones, Computers, Data, Housing, WiFi, Advertising and Recruitment, etc. These Ambassadors will also onboard Influencers and Businesses in their areas to create Currencies, which we will give Grahts for and Invest in.
We will be hosting a SunSwap Clone called KulaSwap and Cloning various DeFi Technologies such as Centrifuge as we merge Mining Pools, Swaps, DEXs, etc, and create an Ecosystem of Tokens moving around. This will also include other Telegram Rewards groups, TRC20s Rewarding Steemit Hashtags, etc, etc.
We have also invented the Concept of a Burn Mine, with Minable TRC20 Tokens that you Mine by locking away VKRW as TVL and earn based on your input, providing you a Hashrate in relation to all VKRW in the TVL.
"Now users can directly add liquidity to trading pairs of any two TRC20 tokens;
V2 includes a new swap routing protocol that can automatically recommend the optimal swap path;
A new liquidity migration feature has been added, allowing users to migrate liquidity from SunSwap V1 and V1.5 to SunSwap V2 in a quick way;
The user interfaces and interactions for swap, liquidity pools, the explorer, and other modules have also been improved.
“Committed to building long-term value, SunSwap has made significant progress in improving its functionalities, user experience, and security. We are confident that as V2 goes live, it will surely deliver a better user experience.”."
– The SunSwap Team
We are about to do a few things in DeFi so I wanted to let everyone know some of what is going on.
Most people in this thread know about TRX and are mostly leaning towards like not being completely against using it. And because that is an obscure subject, that itself will help clear this up. Justin Sun Forked Ethereum and made it a Java Clone, this was after the Ethereum and Ethereum Classic Forking Event a.k.a. the EtherDelta hack, when people thought Forks were kinda not worthy, until ETH became the Consensus and the Fork, so seeing that Justin Sun and others Forked, creating different uses, one example was ETHzero with no Gas Fees, Ethereum itself plans a switch to PoS mining unless that has changed, and the TRON or TRX Java Chain uses Super Reps, which are like OpenLedger or Steemit Witnesses, which means that they are Elected by Vote by Shareholders of BTS or STEEM Instituting a DAO and Mining Pool that operates like a Host for a Website. Ethereum and Tron both do this with the EVM, but Graphene (BTS, STEEM) has a faster Transactions Per Second (TPS). The Super Rep or Delegated Proof of Stake Chain provides a Proof of Stake Model which can be which is more sustainable than PoS generally, because if we look at Peer Coin or other Proof of Stake Currencies based on it, we can see a less useful Model than DPoS, because the Witnesses or Super Reps can then take these massive amounts and put them towards community building Projects. When Dan and Ned Launched STEEM, people in the Cryptocurrency world thought it was an Abomination they would hold so much, and really any Coin at that time with a Premine at 50% or near that was considered useless. These kinds of Currencies could easily work as Government Departmental or Political Campaign Bodies, with Blogs, Forums, etc. like STEEM or with DeFi and other aspects like Tron, which is meant to be geared Towards Gamers generally, and is with ETH as one of the Top 2 in notoriety in the World.
The general complaint about Tron (TRX) is the Centralized aspect that comes from the Super Reps, many believe Cryptocurrency should not be so Centralized and will not involve themselves. What TRX does though, is make everything Clonable straight from ETH, all ERC20 can be Cloned to TRC20, and now they are offering Token to Token Trades, and we will be building into this Environment.
So this gets into what we are doing. We are launching a PancakeSwap Clone and Graphene Blog Vote Buying System, with a Telegram Rewards Token for Selfies and Social Media Tasks. We then will be Building what we are calling a Burn Mine.
Burn Mines
No links to bttindex.php?topic=5379409.0
We also plan several other DeFi Clones, and additions, which will build into what is being called MetaVerse, as Facebook Transitions. This will include 2 Social Media dApps made up of several dApps and Tokens, which will bridge several Blockchains and Social Media Platforms. We will then also have a Token on every Chain, and Clone of every Chain, hosted in 1 place with Mining, Trading and Discussion, so everyone can learn there and use all our other stuff while learning every other Blockchain in a system they can refer to later in their Memory.
Something that needs to be mentioned that may be being missed,
When Ethereum started there was the issue of Token Oraclization, and Forking the Chain, this then became a period of ICOs and World Wide ETH Seminars about Cloning Chains and using Testnets. What we are seeing how in DeFi is DEXs and Swaps, the DEX primarily existed in Ethereum EVM space, then Steem-Engine/Hive-Engine, ICOs on ETH were $10,000-$200,000 and with each chain that hosts Tokens it becomes an Advantage to come in early, so you hold this Utility Coin on a Blockchain that hosts Tokens. The Price barrier was dropped with EIP-1167, but there really has yet to be an extremely useful Token Mint outside of Hive-Engine and the other Aggroed Technologies, which should be seen everywhere, but are still rare. We should see options for Tokens and Contracts for Sale like Aggroed has, all over the Blockchain Universe. Like Discord Admin Bots, and Business Rules Engines, we should be seeing a lot more Tokenization and Rewards brought as Deployable on a DEX, with Staking, Distribution, etc, etc.
At one time there was a Coin called YouStocks, and I posted in their Thread, it would have been years ahead of it's time now that it doesn't exist, and the Developer completely disappeared. What these were would have been Stocks tradable for 1 ETH Clone Chain Token with its own Miners, so everyone was Mining it, and getting ready to have a Token Mint that was as integral to the Blockchain as Ether Mist, or MetaMask. Like Hive-Engine. This should be seen all over, and there should be a heavy emphases on adding Scripts to the Blockchain, there should be integration into existing Technology like Telegram, Discord and the coming MetaVerse.
And dApps should have less Focus on Gambling, and ROI Scheming, and instead be focused on things like building Tools for people to use. If we saw more dApps that had regular things that people already use everyday, but built on Blockchain, then they could use it. For example emails could be Tokenized, Subscriptions, etc. And we could start seeing things like Highly Developed Airdrop Tools that build lists from its History, provide settings, provide storage for organized lists with names, and create a Space on the Blockchain for people to use to create a Career in their Token or other people's Tokens. There could be all kinds of Mining Pool Development, Graphene Clones of Telegram, Twitter, YouTube, etc. Everything can be put onto Blockchain.
If we look at DevCoin they were basically the first ones to create a Rewards Pool, where it was either a basic SHA or Scrypt Coin, like Bitcoin or Litecoin Cloned, but the Specs or Tokenomics included an unlimited Supply with like 180,000,000,000 made per month, distributed to Miners, and then the Mining Pool had a Script (DevCoin and DevTome are on GitHub), that would give 10% of the Rewards to Writers on a Wiki. Rewards were not Voted on like Steemit, but 1 Share was awarded for every 1,000 Words, and if 5 people wrote 1,000 words each it split 5 ways, if 100,000 people wrote 1,000 words each it split 100,000 ways, making it more Rare at that point.
They did not understand that and it didn't work, the Aura Dev ran off so that didn't work either, and Steemit and HIVE are stumbling trying to find their Balance, with Aggroed kind of in the middle. So now I am building the needed Rewards Programs.
And this is DeFi, but it has always been part of Crypto.
Proof that it can work, through a Philipino Scammer who uses Community based Tokenomics with no intent of it ever working:
There is someone named Henry James Banyat, who has been scamming people on the internet for years. He apparently has some level of programming skills, it seems he has the ability to create a Portal basically, and can create little Wallets with Values, as in like a Native Website Token, not a Cryptocurrency. And I guess I have to describe the difference now. So if I create a Native Website Token that is not a Cryptocurrency, it could be done from Scratch or copied, it wouldn't be Mined, you could set up rewards so people can earn it, or make it where they earn it for navigating through webpages like Cookies, Tokens that are released as you land on a page. Or as you play video games you might earn them. The example everyone can look at would be like World of Warcraft Gold or GaiaOnline, or pretty much any videogame or online Currency. You don't Mine it, you don't take it to an exchange and sell it for USD, the only way you could make money is to like sell it to another video game person on eBay who wants your Tokens. Henry James Banyat can create these, and has since before Bitcoin existed, his original one was called like eGold, and it was just a scam to get Older Americans to invest in something that isn't real. He is in the Philippines so he can't be arrested for crimes in America.
He then found Bitcoin and Gridcoin, so he started telling everyone to hook up as many laptops as they could, abd teaching them how to mine, but they were to do it through him. And he would get all the Gridcoins while you got a BTC balance in a Wallet on his portal.
So now, after Gridcoin is over, he has everyone's money and they have an imaginary balance. A balance they are waiting to retrieve. And Henry continues to say that he will make them accessible, and does not really make clear to everyone that he has no Bitcoins, that there is not a real Balance for them. He is just taking from them.
I didn't understand that at first, my Mom brought me in after Gridcoin was done, and I saw a community, I even found they had a Currency called CompuCeeds on BitShares (real Crypto Tokens), I found it on CryptoFresh, and I was like "Wow, my Mom found something, whenever I visited her she mentioned this, but I guess it's real". So I join, and start reading their Private Forum where you have to be a member, and give them your Driver's License, etc. They ban anyone that says anything bad about them, it's not a place to criticize them, they just offer instructions and prayers, they pretend to be very very Christian, and most of their clients are Old Rural Americans. They tell us CompuCeeds are a $1.00 pegged coin, that we will be able to trade our CompuCeeds on the Market and cash out that balance.
I thought they really wanted it to work, reading this you might even think (if you understand Crypto), "How did it go wrong", and I'm telling you, there was never a plan for this to go right. They just wanted to take our Money (a lot like Texas COVID Relief funding)
Understanding Markets,
I start teaching everyone how it works, teaching people how to Buy CompuCeeds because they are going dumped on the Market for Pennies. And what does he do? He dilutes the Supply through inflation by Minting like 10x the Tokens that existed before, and dumps them on the market to anyone buying for 1 penny or half a penny or a quarter of a penny, he just ruins the Price, just murders his own Economy to put money in his pocket.
Never brings in investors, never announces anything on Bitcointalk or invites anyone to Join that could actually buy Coins. It was just never his intention to make it work, and he continues to string them all along telling them that portal has real value behind it, and no one can arrest him.
Not many people know about this, and it is probably even a faint memory to those who do. But I want to explain this to everyone so this Crypto Anti-Trust Group can not just be a crime reporting group, but what to do to do it right. And I will include both in this one post.
https://www.coindesk.com/mcxnow-cryptoexchange-suspends-trading
Doing it Wrong
MCX Now was a Crypto exchange, you would go there to buy and sell Crypto. And there was a Chatbox called a Trollbox, but it created a community, and you could advertise your coin and everything to get it listed and get buyers, so it became a popular site.
The owner decided to make a MCX Token, and they would be bought over 2 days, each representing a share. Then the shareholders would earn that share of the website operating fees.
He sold $3,000,000.00 worth of these Tokens in 2 days, and he shut down the website and left. Never heard from again, that happened and 7 years later no one knows where he is as far as I know. He just shut it down.
Doing it Right
If you go right now and spend $15,000 on Silver, you get about 30,000 grams of Silver. It is about $0.50 per gram. For comparison, Marijuana is about $10.00 per gram.
Now, go on Steem-Engine and make a Silver Token, backed by Silver, and state to everyone that you are selling them at Silver Market value (spot or slightly above, but just use spot) if you make 30,000 Tokens, 1/10 Market value if you make 300,000 Tokens. Tell everyone they can redeem them with whatever limitations, meaning maybe everyone had to wait 6 months to start redeeming. Shipping and Handling, 1 oz minimum, etc.
But explain to everyone that they can go on Steem-Engine and sell it above Spot. And you buy them up yourself when you can to save your silver, and make your Tokens more rare.
Now you have a Token that the holders identify with Silver, you can even share photos of the Silver on Bitcointalk and Steemit so everyone knows it is real. This means it is pegged to the price of silver, unless someone sells it cheaper by choice, in which case you and other holders can buy up to exchange for real silver.
So Silver changes value, your Token changes, both variate independently, but the Token is more dependant on the Silver because you can trade it in. But it could very well go above the price of Silver, and likely will as more people learn about it.
Part of what made STEEM successful was me being there, there is a Framework for how to make Currencies work, and you can see the Framework Modeled very well in DOGE.
DOGE was a Joke,
"Much Currency, Very Wow".
To understand how it happened, you have to understand where Crypto was as a Technology. When you join in Mining Today, if you want to mine Bitcoin Profitably you need to have a large Hash rate, you are competing with Mining Farms. Otherwise you have to Mine smaller Currencies with less competition so your Hash rate is competitive. When Bitcoin started you could use 1 Laptop, when it started it was just 2 people Mining, then they shared the Technology out and it became a Novel thing, not even a Video Game Gold, just a Wallet and a Hash rate, and the ability to send it to each other.
Then one guy, probably sitting at his Mom's house, had 10,000 BTC, worth nothing. And traded them for 2 Pizzas, that was the first trade ever. Soon after, it was on the Silk Road as the Currency and you could buy Counterfeit Money, and have Heroine delivered by the Mail man. Eventually they were about to add a Human Body Parts market selling Ears and Noses, etc, when the Government took Custody.
But,
While that was happening Litecoin was created, a new Algorithm, Scrypt. This happened because Butterfly Labs was creating ASICs which blew CPU (Computer/Laptop Mining), and GPU (Gaming Processors), out of the Water and no one could Mine Bitcoin anymore, so they switched to Litecoin. At first there was no way to use an ASIC for Scrypt, but someone figured it out and they made Feather Coin to make it easier than Litecoin.
This kept happening until they made the CryptoNite (like Superman) Algorithm, for CryptoNotes (like Monero).
But before that, after Feather Coin or around the same time, was DOGE, a Joke and a Coin with so many in a Block everyone had tons, so they made threads to hand it out saying "everyone post your wallet for Free DOGE", and that made everyone invested. This works well for Proof of Stake also, which is where STEEM comes in.
Steemit is Delegated Proof of Work and Staking, so the Bitcoin type Mining is Voted for, meaning all the nodes can be held open by Laptops, then everyone else earns by Proof of Stake and through Votes on the Platform.
So what we are seeing is Currencies that have not just the new Tech, but that put it to uses that are accepted by the general public in a way that then becomes what is called a Meme, that's the best word for it, I don't like the word Meme, as you could call anything a Meme that becomes a Cultural icon but here it fits because it's about Internet Gifs and Banners, etc, which stick in your head.
But there is an element further than that which can be seen in the early joke coin BBQ Coin, which did start being accepted at a few BBQ places and then we can see the same thing in Gold/Silver for Bitcoin, or what we are doing in Soap for Crypto, these are all more than a Meme and ground the Currency.
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