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HyperLoan, a wallet feature to make protected loans:
Replace potencially risky and nonproductive faucets,givaways, and old fashion (risky) loans, all probably inherited from capitalism as patches to attempt egalitarianism, by basic protected loan transactions (loan contract + cash in exchange of some work), a new posibility emerging directly from cryptocurrency technology where property control is never fully given, the owner of the money never lose ownership.
Loan transactions are only usable for staking purposes, and their ammount remain blocked (by network) on third party wallets prohibiting any other kind of use (sending it) while contract is active. By contract the borrower earns a custom fee after succesfully using that loan as a stake, and once the contract is over, the loan ammount plus the sustancial gain returns to the loaner. (technically a trigger based on time and proffit ammount).
Loaner always remain as the owner of the loan, he has control. Borrower just remain being owner of a temporal staking potencial that worth investment. No hall of shame needed, no one can steal the loans, money remain network-blocked and returns in case of contract violation and maybe also at loaner's will.
Protected Loan is a basic technology that opens endless posibilities. May be implemented based on Multisend and Trigger technologies: loan(borrower_address, ammount, expire_date, gain_limit, [return_address1,return_fee1]...[return_addressN,return_feeN])
Protected Loans may have multiple implementations, but what must be taken care of is incentivating the new/poor holder. For example by implementing a AutoAcceptLoanProposals feature turned on, forcing wallets to be 24/7 online, we can encourage people to stand by “onlinenely” in order to catch new loan contracts otherwise they can expire to grant some confidency to loaners wanting their money to work for them as much time as possible. I thought on this because of Matylda, the tip bot. I started staking being unable of depositing money because of a tricky bitcoin service that retain my stake-intended money for days and because I have not much money at all, so I used ##HyperStake IRC channel to earn my very first coins and knowledge. I'ts a bit sad but is fair. All what the new ones can offer to the coin is participation, involvement, time, work. I'll talk about this important point soon on the text.
Protective measures should be taken care of, such as refusing manually or automatically to sign (agree) Loan contract requests to prevent some kind of economical attacks or invasive loans agains borrowers.
This is an interesting idea. Would require forking the coin and some well thought out code. Possible to borrow and modify the cold storage staking that will be released on PPC in the near future. Great you liked this presstab!, we could be pioneers with this put into practice contract, and cold storage staking would be awsome too, more secure and energy efficent right?, wallets can stay offline? Regarding the other unquotable large text, allright, voluntary actions may be enough to protect the coin help redistribution and stuff. I had to try, I thought they were great ideas to help  |
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I'm relatively new in the HyperStake community but a couple of nice gestures (tips, knowledge) and thoughts from some people here motivated me to dedicate a bit of time thinking on how to improve just a bit this great coin. Sorry for the orthographical mistakes as im not a native speaker. Here are some of this philanthropic thoughts: Promote new usages and creativeness. Be there and be kind, people want human contacts, we are not machine ... Dedramatise involvement; "fun" means "don't be afraid of trying".
New uses of staking
The combination of very high interest rate, pretty quick min age (8.8 days) and focus on experimentation paves the way to new uses of staking, beyond "I hoard and I get rich" (look at what is going in real estate with such a mentality).
With some extra coding yet to be scheduled, (namely, timed sending for, say "I stake for my friend for 30 days then he is on his own and I stake for another friend"), this could become a very effective way to spread the "HYP love".
Especially taking into account that there is some ideology in HyperStake movement, that starts to emerge. Interesting. Now that you are saying it, it is quite true. I have some opinion, but could you try to summarize this ideology? The basic (raw) idea is in this. We create a new paradigm of social protection. We redistribute money from rich to more sensitive social stratas... Let's talk about this last one, I think without an ideology, people can move headless, and counting with one, people can do great things beyond their personal interest protecting ones each others. I'm not talking about politics here. I consider myself apolitical sometimes. Cryptocurrencies where created (maybe) towards equality, independency and liberty. Thats why I thought about a fancy but friendly ideology for our coin. While this is just the seed of a bunch of practical ideas, they may not became accepted or possible to code, but Im counting on you guys, devs and community, to be open minded when reading and think about what is good for the future. HyperIdeology:
“a new paradigm of social and coin protection,
as an equalitarian redistribution of profit posibility through time on a high POS cryptocurrency”
This way I pledge into the effort of DavidLattapie and people like Kushed to solve several economical/technical issues: HyperShieldThe HyperShield initiative is oriented toward protecting the coin. The rationale is that faucet and giveways encourage people to care for HyperStake even if they don't have much.[/li] [li]To maintain intentionally small blocks devoted to security only, since they will take a lot of time to stake.[/li] [li]Using the HyperSend feature to increase adoption and encourage liquidity (Poloniex already gave his agreement for "staking to exchange")[/li] [li]A buying bot for market making, further increasing liquidity, which is a plague of high interest securities.[/li] [li]Hopefully we’ll find way to ensure a better distribution of coins too. I did not run the maths about coin distribution, but we should do our best to have a better distribution. Concentration leads to the demise of a coin (one could argue this is the problem now with fiat graph, video, by the way). Speaking of that, I’d like to have something similar to a Gini index but for HYP and others, to compare - but since every one can have multiple wallet, that makes it difficult a discussion on this.[/li] [/list] With great power comes great responsabilitiesLook at the richlist. The biggest whales (presstab, waxo, me, crazyloaf) have 6% of the coins. We know each other well and we have an ethic and we won’t sell like this and the community trust us. But this doesn’t suffice. The same way a coin shall not be on medical assistance, it should not depend on the good will on whales. A peculiarity of PoS is that the biggest holders are generally also the biggest “miners”. As someone pointed it on reddit. HyperBank would itself kill several birds with one stone. It would partially address the problem of “too big to stake” that I mentionned on the first section of this post and would help unwealthy adopters to step in - as well as, as a part of the HyperShield initiative, help securing HyperStake by increasing visibility, hence volume. It is the combination of four ideas: - HyperBank proper (cycoinminer, iantunc and Cor2)
- HyperLoan (cycoinminer)
... [/list] HyperLoanThis is cycoinminer’s idea, before HyperBank was even considered and I felt it would fit nicely in HyperBank. The HyperLoan Experiment Here a HyperStake, we’re looking to build community participation amongst our followers, so we’ve put together an opportunity for people to take part in what we’re calling the HyperLoan Experiment. We’re offering to Loan one member of the community, 10,000 HYP, for the duration of 1 staking period (approximately 10-14 days) Once the HYP has staked, we ask that you return the initial 10,000 HYP to us – YOU keep the interest! What’s the catch? Well, to be eligible, there are a few things you’ll need to do for us. We’d like you to at least do 2 or more of the following: 1. Like the HyperStake Facebook page, and share it with your friends https://www.facebook.com/hyperstake2. Come up with 5 HYP slogans, and periodically write them on Poloniex TrollBox for example: “HYP – it’s hotter than my girlfriend”..... 3. Help re-tweet the Twitter page https://twitter.com/HyperStake4. Actively visit and contribute to the IRC page - http://webchat.freenode.net/?channels=##hyperstakeWe’ll also have specific promotions we’d like you, the community, to help us with over the coming weeks. The HyperLoan Experiment is based totally on TRUST between followers. We’re well aware that one rogue member could walk away with the 10k HYP and never be seen again, but we’re hoping that won’t happen. To that extent, we’ll also have a “Wall of Fame” on the ANN showing which members have successfully taken part in the HyperLoan Experiment! Or locohammerhead when he worries about new people or about wealth: <locohammerhead> question and this is just speculation. IF we hit 1 USD/HYP and it takes 1,500 HYP at least to stake how are we going to get new people into the coin?
I think this would help keep whales from dumping because of consistent competition from the people with lower balances. I think that could help stem the balance of power.
One problem I can see arising from this is people owning multiple wallets with balances of 30K. A VM could be setup to run multiple wallet instances at the expense of system resources.
Thinking on killing several birds with one stone I thought one way to solve a lot of problems: 2 coin-patches that pledge with this HyperIdeology and so with HyperShield. They can be inacurate, unfinished ideas but I count on all of you to perfect them if needed: HyperLoan, a wallet feature to make protected loans:
Replace potencially risky and nonproductive faucets,givaways, and old fashion (risky) loans, all probably inherited from capitalism as patches to attempt egalitarianism, by basic protected loan transactions (loan contract + cash in exchange of some work), a new posibility emerging directly from cryptocurrency technology where property control is never fully given, the owner of the money never lose ownership.
Loan transactions are only usable for staking purposes, and their ammount remain blocked (by network) on third party wallets prohibiting any other kind of use (sending it) while contract is active. By contract the borrower earns a custom fee after succesfully using that loan as a stake, and once the contract is over, the loan ammount plus the sustancial gain returns to the loaner. (technically a trigger based on time and proffit ammount).
Loaner always remain as the owner of the loan, he has control. Borrower just remain being owner of a temporal staking potencial that worth investment. No hall of shame needed, no one can steal the loans, money remain network-blocked and returns in case of contract violation and maybe also at loaner's will.
Protected Loan is a basic technology that opens endless posibilities. May be implemented based on Multisend and Trigger technologies: loan(borrower_address, ammount, expire_date, gain_limit, [return_address1,return_fee1]...[return_addressN,return_feeN])
Protected Loans may have multiple implementations, but what must be taken care of is incentivating the new/poor holder. For example by implementing a AutoAcceptLoanProposals feature turned on, forcing wallets to be 24/7 online, we can encourage people to stand by “onlinenely” in order to catch new loan contracts otherwise they can expire to grant some confidency to loaners wanting their money to work for them as much time as possible. I thought on this because of Matylda, the tip bot. I started staking being unable of depositing money because of a tricky bitcoin service that retain my stake-intended money for days and because I have not much money at all, so I used ##HyperStake IRC channel to earn my very first coins and knowledge. I'ts a bit sad but is fair. All what the new ones can offer to the coin is participation, involvement, time, work. I'll talk about this important point soon on the text.
Protective measures should be taken care of, such as refusing manually or automatically to sign (agree) Loan contract requests to prevent some kind of economical attacks or invasive loans agains borrowers.
Renting the staking potencial:
Think about this 2 patches I propose here:
Protected Loan Contracts plus locohammerhead's idea of degrading interest rate according to balance. An inmediate posibility derived from this two feature proposal appears: Renting the staking potencial.
Rich people in order to increase unlimitedly their wealth can be wisely pushed (via degrading interest rate, limited staking potencial), in exchange of a minimal fee (rent fee), to help poor/new people do their first stakes using their fresh new network participation (high staking potencial) as a stake investment protected natively by the network (protected loans).
In other words, in order to became much richier by staking, rich people could just securely “rent” poor wallets at a low fee to keep making profit at high interest rates, otherwise their stakes lose profitability.
But if you are rich or plan to be it you shouldn't be worried because there are several ways to guarrantee you will keep earning money at high interest rates, maybe not as purely as current staking posibilities but almost at the same rate while protecting the coin: HyperPools, redefined.
HyperPools, redefined:
Direct loan from A wallet to B wallet is the atom, the native implementation, I think we can be pioneers on this. But for rich getting richier to administrate many direct loans will not be posible, or helpfull, so there is where appears a new financial entity, the molecule: HyperPools, a huge borrower entity in a form of a pool of trustable re-borrowers.
To protect loaners from bad (non profitable) borrowers, financial entities namely HyperPools, should appear as pools filtering bad from well behaving borrowers with nice staking records. (masive loaning administrated by a financial entitiy).
Also, a centralized (or maybe not, I preffer allways not towards equality of posibilities and coin confidence) borrower index embeded on wallet would be the perfect implementation to automate the process of finding good borrowers while keeping the posibility of rich to do solo-staking without sending money to other entities/servicies.
Incentive to gain visivility:
All new users join high-POS cryptocurrencies willing to stake. All of them can't stake because of the logicall empty startup and new inversion distrust. While this was fair and logical it's neither productive, educational or marketing-positive. Most services offer trials to new users in order to let them taste the product before buying.
Incentive at zero cost as visibility strategy campaign, that only demands joining to the network and participating (wallets unlocked for stake ) in exchange of profit, educational experience and network grow it's what I propose. Educational staking experience at zero risk for new holders, children, and even real poor people using fiat currencies. (HyperIdeology)
Equalitarian redistribution of posibilities:
Shortening the gap between rich and poor in a moral and communitarian way not limitting the rich capacity to became richier. [equalitarian redistribution of profit posibilities] (HyperIdeology)
Out of the box incentive:
Expands the network exponentially via incentive, at zero risk for joining. Viraly increasing currency holders with incentives provided nearly out of the box (solo loaning or masive loaning administrated by a financial entitiy).
Redefining Entities:
Redefining central financial entities functions and demonopolizing them to provide a more confident/autonomous network. If we want a “To the moon and much beyond” network, it's health must relay mostly over the code, not over the good will of our community. (HyperShield)
Volume allocation redistribution:
Redistribution of currency volume across the network to prevent few wallets holding majority of the volume will be a possible because degrading stake interest rate of rich people, pushes them to continue staking but now on 3rd party wallets (because lack of staking potencial reached) using the protected loan system. If we want a “To the moon and much beyond” network, it's health should relay mostly over the code posibilities, not over the good will of the community. (HyperShield)
Community awareness driven by entities as last resort:
Posibility of alt-powered staking for richs in order to bypass limited staking potencial per wallet/address may occur (at a consecuent hardware/complexity cost) without giving the network a fair chance of prosperity/protection. As an attempt on avoiding this selfish behaviour, financial entities providing high profit without loaning to third party wallets may appear, and in that case they can give loans to poor people independently of the client decission , in order to restore some health. Community awareness on entitie's hands. (HyperShield)
Rich affecting the poor has been talked, also poor massibly refussing loan contracts in some sort of revolt may took place(oh what a crazy future), in that case they will stake by their own means, as current system works, and became affected with less gain, lose of incentive, lose confidence at loaners eyes while rich ones may subsist as clients of multi alt powerered staking entities, once again community awareness on entitie's hands would be necesary to gain some health. |
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