A megathread about #crypto, #economy and #love
Let’s assume to create a #cryptocurrency called $IAM (I am).
We want to it to be a mirror of the reputation of each individual.
Hard to speculate with, and continuously flowing between different users.
The description that follows is just a thought experiment. It needs many simulations and the mind of experts to be optimized. I am simply a philosopher…
// Basic rules //
1 — You can mint max. 1 $IAM (paying only gas).
2 — The $IAM you mint is connected to your identity via a 0 knowledge system.
3 — Every individual can mint max. 1 $IAM, but can hold an unlimited number.
3 — You CANNOT exchange your $IAMs for other currencies.
4 — You CAN exchange your $IAMs for good and services, or donate them.
// $IAM value and Reputation ($REP) //
5 — Every $IAM carries an intrinsic value that equals the total Reputation of the holder ($REP) divided by the number of $IAMs owned.
6 — The $REP of the holder (from 0 to infinite) is the result of all the interactions ($IAM given and received) they have had since the beginning.
7 — Your $REP is a dynamic NFT that cannot be traded or exchanged, but gives value to your $IAMs.
9 — When voting for DAO proposals, your $REP value gives weight to your vote (but only the $REP you have gained in the last year or cycle).
// Calculating the $REP value //
This is a crucial point which will need a lot of thought and simulations.
We want $IAM to circulate as much as possible between different individuals (fluidity and diversity). So, your $REP is probably affected negatively if you hold on to your $IAMs or exchange it with only a few people.
Your $REP grows when you receive $IAM, but the $IAM you receive influences your $REP depending on who they are coming from.
It’s a maze of interconnections that requires a powerful algorithm to be solved… we ask the Gods of Math for help.
// What have we accomplished //
So, we have created a currency that has no financial market, making speculation much harder to achieve.
You receive it when you offer something that there is demand for, or if someone donates it to you.
Because the $IAM you own influences your $REP, you are incentivized to only exchange with high $REP individuals.
When you give an $IAM to someone, you are basically up voting them.
// Points of failure //
There are many, for sure. Ways in which the system can be tricked for speculation or fraud.
All the possibilities need to be investigated, and the system changed accordingly.
Machine learning can help us here to run simulations and find the best route.
// Notes //
- All the smart contract rules need to be able to be changed dynamically via a DAO approved vote. The system is flexible and very dynamic.
- We can experiment with the Fibonacci Sequence or other sequences of numbers found in Nature to calculate $REP and other important values.
- We should remember the importance of Randomness when developing our algorithms. A component of Randomness help us to be closer to a natural system.
// A possible beginning //
“I am” begins as a completely decentralized endeavor. In the beginning, individuals mint their $IAMs, and start giving them to those who offer to do things to grow the system itself.
Since you only have 1 $IAM to give, there is a lot of discussion before choosing to give it to someone.
A DAO forms in which the community can vote about the direction to take.
// Experts needed //
- All kinds of visionaries and #SolarPunks
- #Crypto economists and financial experts
- #Blockchain and frontend developers
- Machine learning and #AI experts
- Communication experts
- Techno philosophers
- …
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