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merockstar

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how about a bounty DAC?
« on: July 05, 2014, 11:49:03 AM »

maybe I'm talking out of my ass right now... I'm starting to approach that sleep deprived status so please let me know if I'm sounding like a dumb-shit, but I was thinking about devcoin this morning. It's a great currency with a lot of promise based on a unique idea (rewarding people for creativity) but it's main problem right now is that it lacks infrastructure. it's got distribution down but there needs to be more uses for it, things to buy with it, and ways to get it.

then I thought to myself, how have other coins progressed at solving their infrastructure problems? then I looked at peercoin. peercoin has their own little bounty site, and it actually gets used. they have bounties for everything.

but then I thought "why doesn't that system work for other coins? why doesn't peercoin have every kind of site imaginable (I have yet to see a peercoin oriented auction site, for example) and how come peercoin bounties don't get filled faster? is it because nobody has the cheddar to make good juicy bounties, and nobody wants to add to already established bounties because what if it doesn't get met to their exacting specifications? who decides?"

then I thought... hmm... I wonder if there's a way BitShares could help advance infrastructure for not just devcoin, but cryptocurrencies in general.

proposal:

how about a DAC that functions as an escrow and public ledger for bounties?

people could create bounties for whatever they wanted, and contribute what they can towards that bounty, which the system would hold in escrow.

then other people could come along and say "hey that sounds like a pretty good idea, i'd like to contribute to that," and increase the bounty until its been there long enough that the reward is enough to actually get somebody capable of doing it, to do it.

but then I thought, "how would a decentralized bounty ledger determine that a bounty has actually gotten met?" cause you know, I could see people making fake bounties, getting other people to contribute, then stealing the bounty if we relied on the bounty creator to determine if the criteria had been met.

"wait a minute... DPOS... democracy..."

the amount that each person who contributes to a given bounty would give them a weighted vote in determining if the criteria for a given bounty has been met, then people could post an address and describe how they met that criteria, and if the bounty creators give it enough approval through a vote, then the escrow automatically releases the bounty, minus a certain small percentage for dividends to be paid back into the system of course.

small bounties would be small bounties. they'd either stagnate like they currently do or eventually get filled. but big badass desirable ideas would snowball into a giant reward with perhaps hundreds of contributions.

are there any holes in this logic? can it be done? after the toolkit is released should I dedicate myself to learning enough code to actually make this happen? would you like to steal this idea and make it into a social consensus honouring DAC in much less time than it would take me to level up my skill enough to make that happen? (please do) thoughts?

people could also set time limits for bounties. if it doesn't get done in a certain amount of time, then the money gets returned back to the people who made the bounty (minus a tiny fee, of course)
« Last Edit: July 05, 2014, 11:56:11 AM by merockstar »

Offline emski

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Re: how about a bounty DAC?
« Reply #1 on: July 05, 2014, 12:50:16 PM »
I have X coins.
I look for a bounty that currently holds X-1 coins.
I attempt to get the bounty (not really just claiming I've solved the problem).
With my X money I vote for bounty completed.
Regardless of the vote of others I get X-1 + X coins.

The real issue here is who decides if the job is completed.
Perhaps if you are not satisfied your bid still stays and you cant get it back until someone does it correctly. However this could also be exploited.

merockstar

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Re: how about a bounty DAC?
« Reply #2 on: July 05, 2014, 12:55:37 PM »
I have X coins.
I look for a bounty that currently holds X-1 coins.
I attempt to get the bounty (not really just claiming I've solved the problem).
With my X money I vote for bounty completed.
Regardless of the vote of others I get X-1 + X coins.

The real issue here is who decides if the job is completed.
Perhaps if you are not satisfied your bid still stays and you cant get it back until someone does it correctly. However this could also be exploited.

how about making it so you can't claim a bounty you contributed to?

well.. then you have identity verification to contend with...

how about requiring an 80 % majority vote?

Offline emski

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Re: how about a bounty DAC?
« Reply #3 on: July 05, 2014, 12:57:34 PM »

how about making it so you can't claim a bounty you contributed to?

well.. then you have identity verification to contend with...

how about requiring an 80 % majority vote?

Then I'll steal only 20% of X.

Offline emski

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Re: how about a bounty DAC?
« Reply #4 on: July 05, 2014, 12:59:46 PM »
Perhaps some judges can be assigned.
But this don't need blockchain just a site. Its very similar to kickstarter.

merockstar

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Re: how about a bounty DAC?
« Reply #5 on: July 05, 2014, 01:03:45 PM »

how about making it so you can't claim a bounty you contributed to?

well.. then you have identity verification to contend with...

how about requiring an 80 % majority vote?

Then I'll steal only 20% of X.

hmm... you're right that's tough...

merockstar

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Re: how about a bounty DAC?
« Reply #6 on: July 05, 2014, 01:08:27 PM »
maybe require people to vote on bounties they have nothing to do with, before they can be allowed to post or claim?

or create some kind of incentive structure for voting?

Offline CLains

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Re: how about a bounty DAC?
« Reply #7 on: July 05, 2014, 01:16:04 PM »
Another great thing about DPOS is we get to TEST how well voting works for HIRING EMPLOYEES. If this works, it is not a far stretch to think that we can pretty much hire anyone to do anything by voting for them and paying for them, in the same way that we vote for and pay for Delegates.

merockstar

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Re: how about a bounty DAC?
« Reply #8 on: July 05, 2014, 01:19:01 PM »
Another great thing about DPOS is we get to TEST how well voting works for HIRING EMPLOYEES. If this works, it is not a far stretch to think that we can pretty much hire anyone to do anything by voting for them and paying for them, in the same way that we vote for and pay for Delegates.

so task delegates with hiring people to vote on whether bounties are completed right?

or just have the delegates themselves vote on that?

I'm trying to poke holes in it... not seeing any.
« Last Edit: July 05, 2014, 01:28:07 PM by merockstar »

 

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