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General Discussion / Re: Simple way to create a liquidity? Let's do it at once - Liquidity Event :)
« on: February 03, 2016, 06:39:02 am »
Awesome idea! count me in.
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We can compromise, get percentage based fees, have micro transactions, and still support the referral program. I think the bad pr of constantly changing and screwing over anyone that attempts to build on our blockchain is worth the 3M bts abit is asking.
All the people that are saying that reducing the fees to this level won't cause massive pain and damage to some are delusional.
All those that think that ignoring the concerns of the low fee crowd will not cause massive pain and damage to some are delusional.
Let's start thinking about compromise. We are a globe spanning chain. This squabbling is really unbecoming.
9. Conclusion
We have described a peer-to-peer payment and monetary asset system that enables users to make payments in assets that are pegged to local currencies. We start with the framework of Bitcoin and other coin systems that use cryptographic digital signatures to securely transfer ownership. Bitcoin is currently not widely used as a unit of account and may take many years or decades before it becomes the standard monetary unit of account. Hence the proposed system provides a framework to enable users to create monetary assets that are pegged to local fiat currencies for more convenient use. The system begins with a delegated-proof-of-stake protocol (DPOS) to allow stakeholders to vote on the operations of the network just like traditional organizations and companies. DPOS also enables stakeholders to select witness nodes to produce blocks and record the transaction history into the blockchain. Stakeholders can also create monetary assets that are collateralized by shares in the network and use internal and external exchange prices to value the collateral so each monetary asset remains sufficiently backed over time.