TimeBank DAC

[CinniDev]

I think you are doing it completely wrong. Normal user issued-assets are the best thing for what you are trying to do. Generic "timeshares" will not have value proportional to the value of human time because human time is not fungible.

This is BitShares X or ME except rebranded.

1 hour in TimeShares won't have the value of 1 hour of human time.
But you can view it as a time-based currency.
On the asset exchange normal people can issue assets and people can use the hours they have in their balance to buy those.
Also people can buy things and sell things with their balance and use it like a normal coin too.
In the example theFuzz made, it showed how someone can issue an asset that has the value of 1 hour of their work.

[toast]

I think you are doing it completely wrong. Normal user issued-assets are the best thing for what you are trying to do. Generic "timeshares" will not have value proportional to the value of human time because human time is not fungible.

This is BitShares X or ME except rebranded.

[CinniDev]

Time Bank?
Welcome! +5%

+5% :D
Thats a better name

Yeh...Really like that.  I would imagine the Time would have a value based in the average value across all services?  Then you xfer Timeshares tokens to purchase shares in worker's timetokens?  So...for instance:

Bob buys 24Hours, looks on the exchange for someone who is offering Web Development Services (Tim).  Tim accepts only accepts TimDevHours, which are currently market pegged at a value 50% higher than the average Hour.  So Bob uses 1 Hour and 30 Minutes to buy 1 TimDevHour. 

Is this how it would work?  I think the confusion lies in "what is this time going to purchase?" 

Also, when is the snapshot?  I'll buy some Cinni if I still get a chance for a chance at more of it--if we can understand this a little better ;)

Yes that is how it can work
People can issue assets without it costing them a lot of money and people can buy and sell the assets that they issue.
If someone issues an asset that can be exchanged for web development services then his asset would be worth what his services are worth in the market value of Time  hours.
The Time hours would be worth what the market decides to accept for goods and services and the price people are willing to buy and sell at, so its market value.

[oco101]

This has given me an idea.  I may create a DAC called MonthShares.  It will be denominated in months. If you have 24, the wallet will show 2 years.  The purpose of the DAC is to let people trade, ah, months of time...something like that...still working on the details...will update soon.

Lool

[fuzzy]

It is like from the movie with justin timberlake, where they have time on their arms. You could use chips to implant under the skin.

LOL!  I am such a conspiracy buff, but this one seems harmless to me :)

If, however, they start taking people's lives with this DAC in the year 2084 I will be wholly against it!

[serejandmyself]

interesting. But if its a bitshares x family, wouldnt it make more sence to give shares to btsx holders rather then pts holders?

Dev, you didnt reply to that ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Also im also confused as to why is it a DAC and not an altcoin

[38PTSWarrior]

It is like from the movie with justin timberlake, where they have time on their arms. You could use chips to implant under the skin.

[fuzzy]

Time Bank?
Welcome! +5%

+5% :D
Thats a better name

Yeh...Really like that.  I would imagine the Time would have a value based in the average value across all services?  Then you xfer Timeshares tokens to purchase shares in worker's timetokens?  So...for instance:

Bob buys 24Hours, looks on the exchange for someone who is offering Web Development Services (Tim).  Tim accepts only accepts TimDevHours, which are currently market pegged at a value 50% higher than the average Hour.  So Bob uses 1 Hour and 30 Minutes to buy 1 TimDevHour. 

Is this how it would work?  I think the confusion lies in "what is this time going to purchase?" 

Also, when is the snapshot?  I'll buy some Cinni if I still get a chance for a chance at more of it--if we can understand this a little better ;)

[feedthemcake]

What exactly gives it value and I apologize if I'm missing something but why would this need to be called a Decentralized Autonomous Company, so far I feel like it's just an alt coin called timeshares and isn't really anything else. Doesn't cinni coin already have encrypted messaging?

[CinniDev]

Time Bank?
Welcome! +5%

+5% :D
Thats a better name

[ebit]

Time Bank?
Welcome! +5%

[emski]

Why not issuing that asset in bitsharesX?
What better feature you will provide?

[CinniDev]

Ok, add me to the list of confused people then :) .

The name TimeShares - what does it refer to? What is being time shared? Say I have an hour of time...what do I spend it on?

You can spend it on things people are willing to sell for 1 hour of the TimeShares
It will depend on the market value.

The name timeshares in this DAC was supposed to mean shares of time

But it has another meaning so it is confusing.
That is my fault for not explaining clearly.

[GaltReport]

This has given me an idea.  I may create a DAC called MonthShares.  It will be denominated in months. If you have 24, the wallet will show 2 years.  The purpose of the DAC is to let people trade, ah, months of time...something like that...still working on the details...will update soon.

[Riverhead]

Ok, add me to the list of confused people then :) .

The name TimeShares - what does it refer to? What is being time shared? Say I have an hour of time...what do I spend it on?