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@cdu

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@cdu
I don't know if it's possible but I have previously thought about some dynamic model that adjusts token quantity in all wallets every block to maintain price but concluded that it has little benefit over asset backed stablecoins
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@cdu
I believe that for the mechanism to be widely adopted the public goods tokens need to have stable value. If they are only issued then their value will deflate
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@cdu
I understand what it's trying to achieve but what I want to understand is how it will achieve that from a practicable perspective, how will this mechanism achieve these goals? Why will people use this, why will they believe it can achieve its goals
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@cdu
These points are valid but from a vendors perspective, instant settlement doesn't matter if the price of the asset is unstable
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@cdu
Cool, is this a manual process or set to market value by default? If manual, it seems too cumbersome to be adopted by vendors because there will be many public goods tokens
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@cdu
But if the mechanism works on proportionality, and portion of infinity is infinity. Unless I misunderstand
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@cdu
ManyPost "Much wow" "Very chains" "So tech" "Such social"
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@cdu
Despite this bounty size, the request is interesting and a good example of integrations that can lead to broader blockchain adoption
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@cdu
Just signed up and I'm following 73 accounts automatically. Getting into that list is probably a good idea for anyone who wants early growth on here
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@cdu
Also, if retail is not back, who is punting meme coins? Or is retail just punting small change for now for fun. Also, forgot to mention NFTs prices collapsed spectacularly as well last cycle which is still front of mind for many people
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@cdu
I've been thinking something similar, total crypto mcap still not at ATH despite BTC ATH which isn't significantly more than previous ATH. I don't think retail is here either and suspect the ETF money is a little more stable than retail. Empirically, no one outside of crypto has brought it up to me yet
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@cdu
Could retail still be hesitant from Luna and FTX collapses? I suspect much of any compensation from FTX will cycle back into crypto given the BTC ATH
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@cdu
- A bigger issue is deflation of the public goods’ token mitigated when it appears there is only an issuance mechanism and no burning mechanism.
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@cdu
I can’t see why users would be motivated to prefer this apart from maintaining your wallet portfolio percentages and not having to choose a specific currency which could be maintained by other novel mechanisms - …
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@cdu
- An index wallet sounds like you pay with a proportionate representation of your wallets’ portfolio, which aside from encouraging use of public goods tokens,
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- which poses the same issue that prevents wider adoption of Bitcoin that vendors don’t want to accept something whose price they can’t rely on - …
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@cdu
- Price is determined by last successful transaction, which is dynamic and can occur outside of the exchanging for goods or services in your examples, such as direct trades of say USDC-EXAMPL - ...
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@cdu
Hey @nor, my understanding of Index Wallets highlights the following: - 'value' appears to be a preference not price, what if my preference is 0% that token? Then the mechanism will charge you an infinite quantity of said token and the payment will still fail - ...
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