@ cragv: the Core-tanium address -- the 'Behemoth' Btc wallet -- is my only Btc wallet. In principle, if X is pledged, all that matters is that a minimum of X always be there.
Thanks Mark. Idea: get a
multi-sig BTC wallet in place to hold Core-tanium and then distribute the private keys to every user that pledges and transfers BTC to that address. You then need n signatures of total N holders to approve use of that key.
Eg. if there are 7 people with BTC pledged and held in the common Core-tanium wallet and there's a sudden need to use some of it on an exchange where UNO has just been dumped, we just need any two (or three - whatever we decide) total signatures (approvals via the multi-sig wallet) to enable its immediate use and them bam, Core-tanium fulfills its function. This remains something of a corporate function rather than being at the judgement of just one person. I like this idea because in times of need of Core-tanium, several sets of eyes are guaranteed to be overseeing its function, so that pledged BTC is not used where it shouldn't and also that it isn't used where it's not really needed. (I'm theorising in the future - all current TTs are known quantities, but think of a time where there are 157 pledged users - not everyone will be on the same theoretical page and so some may think Core-tanium needs to be used at inappropriate times, etc.).
Decentralising this function adds to its power and utility, as long as we keep it in the realm of a trust-based system (ie. not automated). I like the idea of a multi-sig wallet because it's guaranteed that multiple sets of trusted eyes oversee its execution whenever it's used.
Following through on the Core-tanium idea, if/when some of that BTC is used to buy UNO, the original pledges would want to ideally remain in place, right? Am I correct in thinking that the next step after executing a Core-tanium buy would be to list that newly acquired UNO on the Un-Ex in exchange for BTC, then to return that newly-traded BTC to the Core-tanium wallet? Any thoughts on how the fractions would work here (ie. it's never a clean trade, there's always going to be some shortfall or excess from the Core-tanium BTC that was used in the first place... in the case of excess, is it divided between all pledged users and sent to their respective BTC addresses or is it returned to the pool for an enlarged Core-tanium total? For shortfalls, are the pledges all lowered slightly (keeping them in equal ratio) so that the pledges remain in place but just end up being a little lower?
Much of the above can be automated, I'm just after the theory here. Once we get it locked down and ideally tested a couple of times, this function can be coded into The Mall as it is built.
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EDIT: Go, cragv!! the side-by-side DVC/Uno and Uno/Btc charts show clearly the theoretical aim of DVC: a picture is worth a thousand words!
PS. if you like that, check out the
other chart I linked