I totally agree, but I rather have that you start the topic, IMHO people who write code can really make something happen, instead of people who write ideas. Btw funny that you responded to this, just yesterday I listened twice to your interview with @fergish to understand “eventsourcing” better, thanks for that.
Yes, imagine if your could pay with every ERC20 tokens on every Ethereum dapps out there, this would create instant liquidity for all ERC20 token holders (a real world example is: prism.exchange would get so much money flowing through it, if Ether wasn’t the reserved token to create prisms). Almost everybody is so focus on the value of these tokens, but what’s really important is that they are used to pay for services and if you can pay for all dapps with every token you’ve just created a collective marketcap of all those ERC20 tokens. If 10000 SAFE projects all accepted/had each other tokens in their wallet it would also be easier for machine to machine payments and secretly all SAFE Network projects would become hedge funds. Fiat is a sandbox (no! you can’t pay with your currency in my country), cryptocurrencies are a sandbox (no! we only accept bitcoins), let’s not repeat that on the SAFE Network where everything is in one data bucket.
Bob doesn’t have to update his prices, if his price is 1SAFEcoin for an item, it stays that way. The wallet calculates how many tokens are necessary to satisfy that subtotal (Hmmm maybe here wallet providers could give a preference to some tokens, this needs to be disabled so that all tokens are equal). Which brings me to something that might need some workaround. Question? If I got thousand tokens that make a subtotal of 1SAFEcoin, I’ll probably need to pay a PUT for each token, but would it be possible to make a batch and reduce the PUTs?
I think Bancor gives us some clear hints. When you send your tokens to it’s contract, your tokens are exchanged at the current price + the bancor token goes up a small %, you can even adjust by how much. If you sell their tokens again, the tokens goes down a small %. In all honesty all of this is above my head, I’m just a clueless consumer. Maybe this might help The Bancor Formula.
I think that Bancor solves the liquidity problem, their problem is that most ERC20 projects don’t know about them. Ethereum project’s problem is that they are all disconnected (While Ether and the same privatekeys that can be used by each ERC20 token are their connections to each other) while they should empower each other and their users, maybe they’ll find out later.
Yeah deeply flawed this is from their SmartToken setup “@param _disable true to disable transfers, false to enable them” LOL contract owners can disable your transfer (Cyprus all over again, contract owners are the new banks).
"@dev removes tokens from an account and decreases the token supply
can be called by the contract owner to destroy tokens from any account or by any holder to destroy tokens from his/her own"
Sorry for my silliness, it would be fun if different SAFE Network projects could at some time in the future experiment with this. More important is how to get it coded asap?