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General Discussion / Re: TimeBank DAC
« on: September 18, 2014, 09:08:25 pm »Snapshot date?I haven't decided on the snapshot date yet.
When I do I'll post an update about it.
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When I do I'll post an update about it.
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General Discussion / Re: TimeShares DAC
« on: September 09, 2014, 08:28:53 pm »
I have renamed the name of the project to TimeBank 
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General Discussion / Re: TimeShares DAC
« on: September 09, 2014, 02:59:15 pm »So you confirm that the real value is in the user-issued assets and "timeshares" could be called "MEshares" and it would work *exactly* the same way?Yes it would work the same way but it wouldn't make sense to call it something that doesn't have time in the name if its a time-based currency.
I like the name Ebit suggested TimeBank
I understand what you are saying though.
Also yeah a big part of the value would be the user-issued assets.
I am also adding an encrypted messaging system and I'm going to be working on a betting system that uses feeds.
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General Discussion / Re: TimeShares DAC
« on: September 09, 2014, 02:27:38 pm »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.1 hour in TimeShares won't have the value of 1 hour of human time.
This is BitShares X or ME except rebranded.
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.
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General Discussion / Re: TimeShares DAC
« on: September 09, 2014, 01:49:34 pm »Yes that is how it can workTime Bank?
Welcome!
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
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.
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General Discussion / Re: TimeShares DAC
« on: September 09, 2014, 12:51:26 pm »You can spend it on things people are willing to sell for 1 hour of the TimeShares
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?
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.
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General Discussion / Re: TimeShares DAC
« on: September 09, 2014, 12:34:28 pm »It can be used like a normal coinCool! Looking forward to seeing how this develops....and maybe getting my self some nice vacation locations.
I can see how this can use BitSharesX platform as TimeShares will have different values by location, time of year, current events, weather, etc. A futures prediction market if I ever saw one.
Would the properties be bitAssets?Hey Riverhead
I am thinking it is this:
http://en.wikipedia.org/wiki/Timeshare
This DAC isn't related to real timeshares
Maybe the name suggests that it does.
If you have suggestions on a different name that would suite the project better that would be nice.
However what you said is a great idea and maybe bitassets can be made for them.
I'm confused. What exactly would the "timeshares" be used for? What is their value?
To trade, to buy things to sell things.
It will have encrypted messaging system.
And later on a betting system that uses feeds.
Also it will have an asset exchange like bitsharesx so it will be a cheaper way to issue assets.
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General Discussion / Re: TimeShares DAC
« on: September 09, 2014, 12:20:54 pm »Cool! Looking forward to seeing how this develops....and maybe getting my self some nice vacation locations
I can see how this can use BitSharesX platform as TimeShares will have different values by location, time of year, current events, weather, etc. A futures prediction market if I ever saw one.
Would the properties be bitAssets?
Hey Riverhead
I am thinking it is this:
http://en.wikipedia.org/wiki/Timeshare
This DAC isn't related to real timeshares
Maybe the name suggests that it does.
If you have suggestions on a different name that would suite the project better that would be nice.
However what you said is a great idea and maybe bitassets can be made for them.
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General Discussion / TimeBank DAC
« on: September 09, 2014, 11:32:50 am »
Hello BitShares community
I am making a DAC called TimeBank
TimeBank will have 187.5 million coins.
The distribution will be 80% to Cinni holders(150 million coins)
10% to PTS holders (18.75 million coins)
and 10% to AGS holders (18.75 million coins)
The trading code is: TIME
Users of TimeBank will be able to use units of time as the currency.
This detail will be made in the user interface rather than in the block chain itself. TimeBank will display a users balance as units of time and allow users to send units of time to each other.
In the time calculations in the user interface, each coin is calculated as 1 hour.
So if someone has a million TimeBank, his wallet balance is shown as 114 Years, 56 Days 39 Hours 59 Minutes 59 seconds.
When a user sends time, the user interface will convert the amount of time being sent back into actual coins before sending the transaction to the block chain.
I haven't decided on the trading code yet. I am open to suggestions.
Since I am building this project as a BitSharesX fork, it will have BitSharesX's features too.
I will be also adding encrypted messaging. And later on a betting system that uses feeds.
I would love to hear your input and suggestions to make this project better.
I am making a DAC called TimeBank
TimeBank will have 187.5 million coins.
The distribution will be 80% to Cinni holders(150 million coins)
10% to PTS holders (18.75 million coins)
and 10% to AGS holders (18.75 million coins)
The trading code is: TIME
Users of TimeBank will be able to use units of time as the currency.
This detail will be made in the user interface rather than in the block chain itself. TimeBank will display a users balance as units of time and allow users to send units of time to each other.
In the time calculations in the user interface, each coin is calculated as 1 hour.
So if someone has a million TimeBank, his wallet balance is shown as 114 Years, 56 Days 39 Hours 59 Minutes 59 seconds.
When a user sends time, the user interface will convert the amount of time being sent back into actual coins before sending the transaction to the block chain.
I haven't decided on the trading code yet. I am open to suggestions.
Since I am building this project as a BitSharesX fork, it will have BitSharesX's features too.
I will be also adding encrypted messaging. And later on a betting system that uses feeds.
I would love to hear your input and suggestions to make this project better.
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