The easiest way to think of the function of SOV is with an analogy to stocks. A company's shares provide for governance rights and also a claim on the company revenue, usually through dividends. SOV provides is similar in that it provides a way to participate in Sovryn governance and the system revenues are channeled to those who participate in that governance.
I think this is an important step in building a permissionless economy around Bitcoin. Sovryn, instead of being managed by a company, which is created by the legal system of a specific jurisdiction is like a decentralised company that is created by the smart contracts themselves. This makes Sovryn governance permissionless, global and uncensorable.
Hmmm considering a stock how are you planning on avoiding Mr SEC or IRS knocking your door? Since the spirit of the project I don't think US Citizens are banned from participating aren't they? |
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ICO is sooo 2017. Kinda glad that you're not going that way. But still, agree with what nullius said on his post above.
Yeah, I know, but you never know if someone didn't come late to the party. Better to ask |
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This is not an ICO. We are not creating yet another pointless shitcoin. The system will never require you to have any coin other than BTC. There is a token, called SOV, which any user or contributor will be able to earn by participating or advancing the Sovryn protocol. This is not a new coin. It is a decentralised stonk, which can provide governance rights and a share of the revenue stream.
In that respect it is, in some ways, similar to what Bisq have done for their DAO. However, SOV is not planned to provide discounts in the system. All fees will be paid with BTC.
Cool, that's good. And what use does this SOV has? I mean, I can earn it, but what gives it value besides the shares? Is it going to be a complete governance rights or limited? If the fees are paid in BTC does that means that the revenue stream sharing will also be paid in BTC? |
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Btw, is this project going to be another ICO?
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Bitcoin is not digital gold. Digital gold is more like traffic. So the comparison will be appropriate. Gold is a resource that is so popular that everyone knows about it, so in the digital world this function will be represented by human traffic. Of course, it can be monetized, and therefore it is a digital asset.
Bitcoin has everything to be digital gold tho... I don't think only the popularity is to be considered to make that comparison invalid. Actually I think that the only thing BTC lacks against gold is popularity (and track record ofc). |
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Can you explain a bit more what is Bitcoin Defence-in-Depth?
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I watched the video, it's totally funny. Is there really someone who does not know the correct way to protect assets from theft and loss?
I don't think so, owning Bitcoin + seeds and storing them in cold wallets at the moment is not that difficult!
Well, only a few people in the world (% speaking) actually knows about Bitcoin, even fewer find managing a ledger/trezor or protecting crypto "easy", and even less do cold storage by their own. Imagine talking to your father/mother about Bitcoin, Seeds and cold wallet storage... They most probably will reply "meh, I prefer to to a tranfer to my bank and let them handle..." Also is not only about knowing the correct way, but also the anxiety that might cause for some people (if the process is not very straight forward) to think they are doing it wrong and might lose their funds. I still have that sensation sometimes and have been around for many years. |
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I will never understand why any bitcoiner would be fearful of ethereum or vice-versa. Is just 2 different blockchains with way many differences that makes them both valuable.
I'll explain it so you understand. The most significant promise of Bitcoin as a value store is that it's supply is limited - 21M bitcoins. Proliferation of alts breaks that promise. Now there are 21M bitocins, plus 90M ethereums, plus miriads of other cryptos. Yeah, that's where you are wrong. That's like saying that other metals break the promise that gold is scarce. Having other cryptos is a good thing, if you try to test or implement everything on BTC, the chances of breaking something are much higher. As Edan said, "Ethereum will be our testnet". And also, 1 BTC = 1 BTC. That applies to everything. There are plenty of paints in the world and every day more are created, that doesn't diminish the value of a Monet or a Picasso. (Not to mention that so far as history goes, those periods with a higher "proliferation of altcoins" (aka altcoins 2013, ICO 2017) where what increased the price of bitcoin) |
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Ethereum is the most requested platform to develop DeFi Apps today. If you have free time, take a look at the Avalanche platform. The community that follows them is waiting for the mainnet. These characteristics of the platform will make Bitcoin many use cases. Avalanche finalizes transactions in about a second and clears thousands per second. This makes high-volume P2P payments and asset transfers a reality. The platform can accommodate thousands to millions of participants. The protocol is green and sustainable, and there is no mining. https://www.avalabs.org/avalanche-x
Might be the most, but not the only, and also that doesn't mean that will be like that forever. Crypto world moves really fast, before you noticed it, there might be a new ethereum  |
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Regarding Bitcoin as a sovereign, I haven't heard this one before. The idea that Bitcoin is Sovereign is an old one, and should have more traction. One of the most AMAZING dramas in Bitcoin was around this. Mircea Popescu, a great but forgotten Bitcoin trolls was running an exchange called MPEx. Erik Voorhees listed SatoshiDice shares on MPEx, and after a while the SEC came knocking. They emailed Mircea demanding information. The result was a hilarious email thread with the SEC.Some of the gems from that conversation: - SEC asks to speak on the phone, Mircea suggest #bitcoin-assets on Freenode instead. - SEC asks for information again, Mircea politely requests they "sufficiently establish your authority to do so"first. - SEC send him a formal letter, Mircea says he appreciates their efforts, but actually they need to prove that he or they have any authority over Bitcoin. The whole thing ends with: "Bitcoin is a sovereign". ...but don't let me ruin it for you, read the whole thing. haha for some reason, always that there is a good anecdote about crypto "the" Erik Vorhees is present... |
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To me it seems that there is a segment of the Bitcoin community that are actually fearful of Ethereum. They try to protect against this by making it their mission to FUD everything that has the mere whiff of Ethereum. An unfortunate side effect of this is an inability to acknowledge any benefits that might come from smart contracts - which is ironic, since one of the true Bitcoin OGs , Nick Szabo basically invented the smart contract concept.
To my mind, Bitcoin has nothing to fear from Ethereum... any more than Bitcoin has anything to fear from any of its other testnets. The only thing we have to fear is the mental stagnation that comes with throwing the baby out with the bath water. I am not willing to concede smart contracts to Ethereum. We invented them, they are ours.
I will never understand why any bitcoiner would be fearful of ethereum or vice-versa. Is just 2 different blockchains with way many differences that makes them both valuable. If Bitcoin and cryptocurrencies is about freedom, the freedom of choosing the blockchain that better suits you should be a must. If not it just looks like a ego battle. With that said, I personally will always prefer Bitcoin, "never TheDAO'ed", Blockchain <3 |
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Today brasilian users have been experiencing some issues with their connection to the Mainnet, due to a problem with the country's internet service.
Even though it has been fixed, if you experience any issue please let us know!
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New year, new goals! Spreading #DeFi around the 🌏 with @rif_os in 2020, secured by @Bitcoin. What are your new years resolutions? 🐒 #RSK #RSKAroundtheWorld |
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This RSK project has been on the air for so long but there has not been very significant results for progress, is there any good news that I can find out about? at least it can benefit the community.
Hi! there has been a lot of significant progress this year that have been announced in our social media! Just to name a few, MoneyOnChain has just launched the main net becoming the first stable coin secured by Bitcoin through RSK, Lumino was launched as well, Taringa! has been acquired and is being fully reworked as we speak, dexFreight has made the first Truckload Shipment powered by blockchain, offices have been opened in San Francisco, Shangai, Singapore and Giberaltar. You can see a complete list of all the use cases we are working on here: https://www.rsk.co/Use-cases |
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Esclarecimento: como não falo português, a publicação é traduzida com o Google Translate. Peço desculpas por qualquer erro.
Eu tenho uma agência de mídia social na Argentina para projetos de criptografia. Estamos comenzando a brindar el servicio en Portugues y preciso de um dos meus clientes, gerente de comunidade / suporte ao cliente. Também para fins de semana.
Habilidades necessárias:
- Português / Espanhol fluente ou bilíngue, oral e escrito (classificação em inglês, não exclusivo)
- Experimente dirigir o Zendesk. (Valorizado, não exclusivo)
- Conhecimento sobre criptomoedas (valorizadas, não exclusivas)
- Conhecimento sobre processos KYC e AML (avaliados, não exclusivos)
O horário a ser coberto é das 16h às 12h
O pagamento inicial é de US $ 300 por mês. 40 horas por semana. Uma vez que funcionaria para apenas um cliente no momento.
Se você estiver no exterior (Portugal ou mais ao leste), poderá contratar para cobrir o período noturno.
Trabalho por cliente, ou seja, à medida que houver mais clientes, o pagamento aumentará.
Qualquer dúvida que você possa me escrever aqui ou em particular.
Saudações!
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Is there airdrop of this ?
That was a pretty good first question appear here, stablecoin' airdrop. I'm also waiting for the answer  Is there no white paper yet? Hi! Whitepaper will go out shortly. The team is currently working on launching the test net right now. At this moment there are no airdrops planned. But stay tunned because there might be in the future. |
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Hello admin...any question for program bounty..when my balace upadte in dashboard?because my balace allways 5 LXT?
Hi! you will be able to see the bounty calculations soon in the Bounty Section. |
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