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I think you should start using the 'daily mining reward' or 'idna hours' as a optional unit of account in the Balance - and also allow people to do transaction meassured in 'daily mining reward', or 'idna hours'- not only in 'idna'.
So for example the cost of mining penalty would allways be stable at 0,25 'daily mining reward' - and other prices could be expressed in that stable price scala as well. You could even peg the amount of idna for transaction fees or burning fees or oracle fees to that unit of account - and make it all stable and transparent, avoiding future idena gas price FUD.
As the network grows or shrinks, the balance expressed in 'daily mining reward' grows or shrinks as well each epoch, because of relativity.
That is not a new idea at all, the duniter Blockchain has tested it as well, where you can do transactions in the linear currency 'Ğ1' or in the relative currency 'UD'.
UD = c * M/N
c = monetary growth (4.88% each semester for Ğ1)
M = monetary mass (of Ğ1)
N = population (members number)
It is also an amazing idea to convince people to use relative unit of accounts even when trading goods and when doing transactions.
I wonder if the "daily mining reward" could in the long run become a more stable measurement tool for pricing than idna itself, because idena will become more and more popular in low salary countries where people indeed sell every day if the price meets their median price expectations.
This discussion was converted from issue #417 on July 07, 2021 09:10.
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I think you should start using the 'daily mining reward' or 'idna hours' as a optional unit of account in the Balance - and also allow people to do transaction meassured in 'daily mining reward', or 'idna hours'- not only in 'idna'.
So for example the cost of mining penalty would allways be stable at 0,25 'daily mining reward' - and other prices could be expressed in that stable price scala as well. You could even peg the amount of idna for transaction fees or burning fees or oracle fees to that unit of account - and make it all stable and transparent, avoiding future idena gas price FUD.
As the network grows or shrinks, the balance expressed in 'daily mining reward' grows or shrinks as well each epoch, because of relativity.
That is not a new idea at all, the duniter Blockchain has tested it as well, where you can do transactions in the linear currency 'Ğ1' or in the relative currency 'UD'.
UD = c * M/N
c = monetary growth (4.88% each semester for Ğ1)
M = monetary mass (of Ğ1)
N = population (members number)
It is also an amazing idea to convince people to use relative unit of accounts even when trading goods and when doing transactions.
I wonder if the "daily mining reward" could in the long run become a more stable measurement tool for pricing than idna itself, because idena will become more and more popular in low salary countries where people indeed sell every day if the price meets their median price expectations.
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