I’ve thought about these threads for awhile.
Using the SAFE network without money
Path of Least Resistance
Final few points about PtP
Safecoin computational/communication density
Finally, I decided to brainstorm alternative features. One member said I will be crucified for posting this… He is probably right. As the title says, this is just wishful thinking.
If I were to build my ideal Decentralized Network, what would it be like?
- Zero barrier to entry… Free to upload/download.
- Turn my computer into cash… work from home.
- Has tons of free content… while others require payment.
- Currency accessibility… you earn what you bring to the network.
- Very efficient Network… requires very little processing.
The Network doesn’t charge for uploading/downloading AND it pays out … SAFE GB!
What is the purpose of SAFE GB? It’s used for “permanent” storage. This means all initial PUTS will be temporary (LRU - Least Recently Used Cache) until it is made permanent by paying SAFE GB. This allows people zero barrier entry to try Network without caps, limited trials, bait and switch gimmicks.
I like supply/demand adjusting Network payout. So let’s keep that. When the Network is very empty, it pays out less SAFE GB. When the Network is nearly full it pays out more SAFE GB. Since there is no supply cap, the Network never has trouble paying out more to meet demand. This allows it to continue forever, but it’s still limited by productivity. At the same time, the currency is consumable from #1… permanent storage. Hopefully, this will help mitigate rapid inflation.
I really like the walletmark idea, and believe it assists all payment situations. Definitely a keeper. Content is free to upload/download because of #1. Therefore, I think more people will upload content with walletmark, making it permanent if it becomes popular. Or the Network can charge for a walletmarking service, which includes: LIKES, TIPS, PAY on GET. Otherwise, it goes away as temporary content. Good for the Network, good for the producer, great for the consumers!
IMO, the most annoying thing about currency is accessibility. A great selling point of Bitcoin was you could farm it on your average computer. But that is impossible now. I would like a currency that can be easily acquired today as well as 10, 20, 30 years from now. My only requirement is that productivity be the limit for currency creation rather than an arbitrary cap. The more resource you provide, the more SAFE GB you earn.
Currency security is a big deal and it’s very important. But at the same time, forcing the Network to count individual transaction units is inefficient. A ledger account system would be better, we just need a larger consensus group or some other way to beef up security. Less processing for the Network makes it more efficient.
This changes some things while keeping others. It’s definitely not a perfect alternative. But it does sound more user friendly. I’m sure many will disagree on various points and I’m okay with that.
Thanks to many posts below, I have reconsidered some of the brainstorm ideas above. Also, changed SAFE GB to POR… (Proof Of Resource). It is a poor man’s currency. But one that is accessible world wide.
Temporary storage is more irritating for new users. It would also require more maintenance by the Network to: track, remove, and toggle temp data to perm data. I’m scrapping it. All data is permanent and costs zero to upload… when storage capacity is less than 20%. But as storage capacity increases beyond 20%, PUT costs increase to discouraging uploads, while encouraging farming. See Q&A “Storage Overload.”
POR is rewarded on a 1:1 ratio. If a vault successfully supplies 1 GET (1 MB chunk beating the other 3 vaults) they get 1 POR. This basically means farmers generate rewards according to the amount of “good” resources they provide, no more, no less… forever. “Good” means their GET replies beat the other 3 vaults.
I think walletmark is perfect as is.
Because of #2, POR will always be accessible by everyone, adjusted by current technology. If a faster delivery vault is created, that farmer will gain an advantage until everyone catches up. At the same time, this shouldn’t exclude lower tech farmers from earning something, because their reward is based on “good” resources provided, not limited by a cap.
This one is a pickle. If ledger systems are less secure than individual data units, then I’ll have to settle for POR = 1 MB as the lowest denomination per data unit. Possible ledger solution see this post.
Since POR is naturally inflationary, it’s unlikely it will need smaller denominations. However, I could create “change machine” feature. It would burn POR and create a ledger balance. POR data units are classified as “Savings”, while POR ledger balance is classified as “Checking”.
Why bother rewarding POR if has no purpose in the Network?
I see it more like a job… Your vault works 8 hours and gets paid for the amount of work it does. That’s it! K.I.S.S. What the farmer does with the reward is entirely up to them. They can trade it, transfer it, transact with it… etc. The currency remains relatively stable because, 1 POR will always require 1MB of “good” resources to generate, now and in the future.
What about spamming?
I think this will be an issue even with a pay system. I still get flyers in my physical mailbox. A better solution would be to subscribe to a “Do Not GET” block list. The spammers don’t know you’re not GETTING their spam, since it is being ignored on your end. Besides if storage ends up being as cheap as we expect, then marketing money will flow into AD spamming anyway.
What about storage overload?
I was one of the first to raise this issue. Here’s my solution.
Bootstrapping Solution: the Network adjusts PUT costs at certain thresholds.
- 0% to 20% capacity, 0 POR buys unlimited PUTS.
- 21% to 89% capacity, 1 POR buys X PUTS.
- 90% to 100% capacity, PUT unavailable.
The reason we stop allowing PUTS at 90% is because we need a 10% reserve to compensate for a churn events that could result in data loss if there is no storage available. Some would argue 10% reserve is too little. But as the Network fills to 90%, the PUT costs have been increasing to reduce uploading.
Because at 20% we know POR exists, and can be used to pay for remaining storage capacity. This solves the bootstrap problem, and remains flexible enough to adjust to overwhelming PUT demand. Vice versa, if the community contributes more than they consume, the PUT costs will remain zero. The Network reacts to community behavior.
What about inflation?
This is a curious thing because “bad” inflation is an increase in the money supply while the goods and services remain the same. This results in higher prices. The Network increases supply as a consequence of servicing a demand (GET requests and Storage). Keep in mind it’s not that easy to generate POR. There are already several factors that reduce payout: caching, other 3 vaults, bandwith and actual GET demand… all of which help limit currency generation.
But if the Network gets mass adopted, won’t there be trillions of POR floating around?
Absolutely, global distribution is the goal. I’m confident we can find ways for the Network to consume POR by providing useful service to end-users. Otherwise, people can use POR for everything beyond Network services.
Spending this currency on core Network services consumes (destroys) it. Without a supply cap, the only way to remove currency from circulation is to use it for Network services. This gives it a purpose while countering inflation at the same time. What Network services consume POR?
- Pay Per Like
- Proof of Burn for global general endorsement… alternative to Pay Per Like
- Core Development & General Voting
- Website index listing.
- Convert POR into your own Altcoin.
- ??? Anything else we develop.
Just to be clear, this is not about changing the current plan (Safecoin Incentive Model). Many of us invested in MAID, including myself. I like to write down my ideas for the future, in case they come in handy.
SD (Structured Data) Shares?
I had a discussion with @dallyshalla and proposed an idea that might be very useful. 1 Structured Data unit holds the previous and current owner’s public ID. What if we use the “Safecoin wallet address” as the owner ID?
How is this useful?
I create 100 Shares (Structured Data). And each share represents 1% of the company’s profit revenue. So if the company earns 1000 Safecoins, it pays 10 SC to each share’s wallet address.
If the owner of that share sells it on SAFEX to someone else, then the wallet address changes to the new owner. The company DAO looks up each share’s wallet address for Safecoin payout.
Is there an easier way to do this?
Is the owner’s ID the same as the wallet address?
Can it be that simple?