Yamane, I hope this do not comes out as mean, but no, it's not a stablecoin like Luna in the slightest, and to all of your questions, the answers are all thoroughly answered in the paper.

We can discuss how you think that my solutions do not solve this problems, or fail, or etc. But the answer to "it's like Luna" is just: "no". VHT is not a stablecoin like Luna, is a flatcoin. The bitcoin reserve can not decrease. The exchange rate problem solution is described in the paper. I do not intend to solve bitcoin price fluctuations, this is not a price control protocol. I do not intend to create another stablecoin, the paper explicitly states that stablecoins are a bad idea regarding crypto adoption.

This is an interesting use I did not thought of, thank you for bringing it to the table.

Just to clarify, the idea of this flatcoin concept is not to be a Bitcoin replacement, nor a proxy token. It's purpose is to allow for a stable transition regarding volatility. A flatcoin can be a mean for the mass of people to migrate to bitcoin by avoiding both fiat inflation and bitcoin volatility.

This is strictly a bitcoin related project. It solely aims to the adoption of bitcoin, the flatcoin being only a "transitional token" (to be discarded), which in turn also depends on bitcoin for its definition.

Hey! I just published my flatcoin project today in this forum, look for "From Fiat to Bitcoin through a Flatcoin".
In the whitepaper you will see that a fully decentralized and trustless P2P fiat-to-btc platform was designed as a complement for the project. It might be of your interest!

Thank you for your answer, I have now published everything, I hope the community will find it valuable.

deleted after total backlash

Hello!! I'm terribly sorry for the delay in my answer, I was swamped by the current national political turmoil plus work. I also wanted to extensively overhaul my work before coming back to you (which is done finally). I'm writing here just in case you see this first, but I'm writing to you right now from the @lisandroiaffar account in twitter!

Hi Maximiliano! Proud to have you as compatriot, and honoured to receive your comment

To the best of my efforts, I was never able to come across your work in my searches. Just went trough your white-paper and its awesome, it does sounds like I'm indeed trying to reinvent the wheel, minus the technical capabilities to do so.

I'm clearly in no position to argue with you about this subject, I don't have the technical knowledge nor the expertise to do so.
I humbly dare to still make some comments on where I think my protocol is different than yours, the reason I would still pursue its development. Of course, I would be thrilled If you would be open to admit some of this ideas.

This aspects are more importantly different in this protocol:
- It assumes that fiat will tend to deprecate over time, so it's able to deal with that situation.
- It provides a place for the fiat "to die" when that happens, in the pools.
- It assumes that the economy will tend to adopt bitcoin as a base currency over time.
- It then defines a token which is entirely transitive in nature, allowing for a progressive and stable transition from a fiat based economy to a bitcoin based economy (a limit for which it's explicitly stated that only bitcoin will be left, without residual intermediary tokens, and the system that implements the protocol can cease to exist).

I hope my comments will not come as insolent, for again I'm in no position to argue about this against you. But I do humbly ask you to consider this, and I would love to hear how do you think that your protocol already haves this situations in consideration. If you do, I will then proceed to help to spread the word, with a stronger basis.

As far as I see "on the street", from direct experience in my routinely effort of evangelizing about bitcoin, volatility just can not be taken out of the equation. 99% of people simply can not afford it, as much as they may understand and like bitcoin, they just can't. Volatility must be addressed in order to achieve mass adoption, or it will not happen.

Hey, thank you so much for your answer bitcoindusts 

It absolutely helps, and I really appreciate the effort of putting that together for me to follow

I doubt my abilities and I'm totally willing to seek help, it will be necessary

The reason I'm in this mental banzai charge is because I think this protocol can indeed be a great solution, may I fall during the charge or not . I think it's worth the try

Thank you again!!

Thank you Ucy for your reply

I checked your latests posts but I was unable to find the ones regarding bitcoin volatility, could you please point me to the posts you are referring to?

Just to clarify: the protocol I'm trying to implement converges towards a bitcoin-only currency system. The temporal usage of a stablecoin is to allow, simultaneously, for people to transition from fiat to bitcoin, and to make that transition smooth for the average citizen (while investors will withstand the brunt of the volatility).

Volatility is in practice the main hindrance regarding bitcoin mass adoption as currency.

I'm trying to tackle on that problem with this proposal:

https://bitcointalk.org/index.php?topic=5390178.0

My first approach to implement it is to develop it on Taro, and thankfully I did got some attention on their community. Anyone is welcome to collaborate

Hi Ucy! Thank you for this input
I think that what you are proposing will tend to evolve naturally from the "metaverse"/"web3" ecosystems, isn't?

Before we reach that point, by now, I'm aiming to "the streets", to say. "Parallel Nations", in strongly regulated (socialist) countries (like mine), are essentially what "non official markets" are. I'm avoiding the term "black market" because it haves a negative connotation in first world countries, but in socialist countries "black markets" are the "good markets". Nothing illegal goes there except that the exchanges are not subjected to government oppression in it's many forms (inflation, taxation, confiscation, banning, limitation, segregation, racketeering, lobby, etc).

So we already have this self-sustaining systems up and running on the streets as a means of survival (the culture started after the 2001 national crisis, when the first full parallel economy spontaneously grew). The only eternal problem is the currency, which is still limited to the national currency for the vast majority of the population. To make bitcoin a viable currency, there has to be a way to deal with it's volatility, to allow mass adoption. The protocol I'm pointing to proposes a solution, which do not implies to try to control bitcoin's price.

If you could take a look at it, I would really appreciate it

Thank you Lida, I will

Hello!

I thank you for your offer, but let me clarify that this project do not needs marketing, this is still on the technical development stage.

Plus, it's important to keep the conversation here, to keep it searchable and open for everyone.

Thank you again for your time

Hello!!

Don't worry on being vague, I understand it's too long, so I understand your perception. Since it's a perception, I can not argue against. But I'm just writing to thank you for your time, I'm aware and I really appreciate the effort it takes

Hello!!

I have developed, at the theoretical level, a protocol (would be a dApp) to boost Bitcoin adoption for every day use, by everyone.

But, I completely lack the knowledge on where even to start looking in order to learn what I need to know to make at least a proof of concept of this protocol.

What I do fully understand:
- I understand the core concept of Bitcoin, I have read the white paper thoroughly, and I'm a programmer (Python and C#). I also understand very well the economics involved and the whole concept, which is the reason I'm a committed supporter of the adoption of bitcoin as currency.
- I understand I'm going to have to vinculate many complex tools to get the different components of the protocol (which are each a world by themselves), and I understand that even getting them to work together is going to be a challenge in itself.

So I'm fully aware that there is no shortcut here, no "for dummies" version, this could take up more than a year to even get the PoC, and that at the end all this might very well end up being way above my IQ. I'm fully aware of my ignorance and the size and high level of the technical complexity implied.

What I'm humbly asking for:
- Can you please guide me on at least part of what I need to put together to get this done and where can I start learning about it?

I'm obviously not asking for the full package, but my aim is to try to put together whatever answers I might get, start from there, fill in the blancs, and see where I can go.

I'm deeply thankful in advance for any answer, I understand that this is a crowded and vibrant ecosystem so I really appreciate the time anyone gives.


This is the protocol (it was moved to "Altcoin Discussion" because it mentions an altcoin in it to illustrate part of the concept, but it haves nothing to do with any altcoin, it proposes no new altcoin nor anything alike, this is just pure Bitcoin):

https://bitcointalk.org/index.php?topic=5390178.0

Hello!

I totally agree with you! I just wanted to have more conversation about it prior to actual development. I conceived this protocol entirely by myself, which makes it more prone to basic errors even from the concept itself. I thought that I could discuss the concept in this forum either to get it polished/corrected or even to get it disproved by some inherent flaw some of you may find.

Hello!

I agree it's a long text, so I thank you a lot for your time

As I pointed above, there is no new token to profit from, only stablecoin and bitcoin. This protocol do not generates any new shitcoin. It's designed only to allow for a non chaotic migration, and then to be abandoned forever, leaving only pure bitcoin, and no residual shitcoin.

Hello! Thank you for your answer. It's a valid point, for sure.

Yes, I do think it's still a good comparison, because there are fundamental differences between the Terra protocol and this one. The Terra protocol did prove that algorithmic stabilization is possible. It fails where it depends on it's speculation token Luna. There is no such token in this protocol, so it just can't fail the same way. There is actually no auxiliary token at all, there are only stablecoin and bitcoin, no other shitcoin nor anything alike.

Your second point is also valid, and I'm sorry if my post came interpreted that way, but I'm not looking for anyone to test this for me (for sure, my pleasure if anyone wants to own the entire thing). It's still a concept, it's complex, and it involved and involves a lot of work, so I just wanted to discuss with people and get it as polished as possible before getting into actual programming.