RadixDLT (formerly eMunie) Discussion

[Arvydas77]

[...] you must incentivise people to spend their tokens as much as they can.

one dynamic to consider that helps with "spending" (vs "holding") that goes with a crypto that doesn't reward spending directly is:  to the same extent that holding is rewarded, so too is the motivation by merchants to give discounts to those buying with that crypto.  So in theory, spending will be encouraged indirectly because merchants will want to hold that crypto compared to other currencies... and so on throughout the digital economy.  Merchants will have many other reasons besides "interest payments" to give discounts to buyers, too.  So spending Radix probably will happen naturally, IMO.  

I think it is impossible to encourage spending just by merchant rewards. First, you need merchants to accept technology (it won't happen soon). Secondly, it is impossible that merchants will hold any kind of crypto just for speculative reasons. If you pay with BTC, actually, they are converting it in fiat instantly! Crypto is not in competition with fiat IMO. For everyday use fiat is the best and it will stay.

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[Peachy]

[...] you must incentivise people to spend their tokens as much as they can.

one dynamic to consider that helps with "spending" (vs "holding") that goes with a crypto that doesn't reward spending directly is:  to the same extent that holding is rewarded, so too is the motivation by merchants to give discounts to those buying with that crypto.  So in theory, spending will be encouraged indirectly because merchants will want to hold that crypto compared to other currencies... and so on throughout the digital economy.  Merchants will have many other reasons besides "interest payments" to give discounts to buyers, too.  So spending Radix probably will happen naturally, IMO.  

I think it is impossible to encourage spending just by merchant rewards. First, you need merchants to accept technology (it won't happen soon). Secondly, it is impossible that merchants will hold any kind of crypto just for speculative reasons. If you pay with BTC, actually, they are converting it in fiat instantly! Crypto is not in competition with fiat IMO. For everyday use fiat is the best and it will stay.

Well, with our native debit card (which you can also make for yourself for less than $25) that only our system can do without piggybacking onto the Visa/MC network the merchants will be MORE than willing accept it and thus get off the Visa/MC crazy train of fees since our solution is a substantially lower cost (and easier to understand).  Plus, they'll be able to use the existing point of sale terminals as they do for Visa/MC with no need to do anything themselves.


For reference: 
https://www.cardfellow.com/credit-card-processing-fees/#visa
What a labyrinth of fees that the merchant must understand to derive the impact to their margins.

[Arvydas77]

I like this idea about native debit card you can use at any point of sale with existing infrastructure. So, it means I can have Radix tokens with low volatility index and spend my balance anywhere with card that costs me only $25? No maintenance fees? As I understand Radix converts my tokens to EUR or USD or other fiat currency instantly?

[Slothking]

Hi id really like to throw a bunch of btc on radix when can I expect to do so?? Thankyou . love what u guys are doing

[Peachy]

I like this idea about native debit card you can use at any point of sale with existing infrastructure. So, it means I can have Radix tokens with low volatility index and spend my balance anywhere with card that costs me only $25? No maintenance fees? As I understand Radix converts my tokens to EUR or USD or other fiat currency instantly?

I'll delay posting the detailed mechanics for how the Economics system would work until there is more information (e.g. Economics Whitepaper), but effectively the card would be nothing more than a hard copy wallet of your funds (could also be used for simple cold storage).  It wouldn't convert the funds to EUR or USD as the existing MC/Visa systems do today as that's where the fees are incurred due to using their network.  

Let's be honest. The reason most merchants accept crypto are usually 2 fold:  1: its new and cool and they want to look new and cool. 2: there is a lot of "money" wanting to be spent and they want to get their hands on some of it.  However, that's about the limit of their interaction in the space for most merchants. They fully understand the existing price volatility and thus their rational self-interests compel them not to hold it for longer than necessary and thus immediately convert it to their native fiat after the sale completes.

If, however, that price volatility were to be substantially negated as well as incentivizing them to receive balance increases (interest earnings) on their existing holdings without having to do any Po"X" type of work then they would probably be more than willing to hold Radix tokens.  Not to mention that if their computers are online most of the day verifying network txns that need verifying (with a minimal amount of impact to their computers since the consensus protocol is supremely efficient)  they would also receive earnings payments for their portion of work from the new supply generated.

[Peachy]

Hi id really like to throw a bunch of btc on radix when can I expect to do so?? Thankyou . love what u guys are doing

You can join the Mailing List here to be informed of any upcoming events.

https://www.radix.global/

[crimealone]

Ico finished?

[elma]

Ico finished?

are you a troll ? 

[okiefromokc]

The native Debit-Card is truly what separates Radix from all other known crypto currency tokens... 

[Moht]

Interesting project, happy to have stumbled upon it.

[witch]

What about a signature campaign for RADIX? Can we expect bounty campaigns like this?

And is there absolutely no way/chance for a RADIX token sale or maybe an invite only pre ICO  which will be operated by crypto influencers?

[SonaraBeta]

What is the maximum supply tokens?

[bitblaster]

Hi id really like to throw a bunch of btc on radix when can I expect to do so?? Thankyou . love what u guys are doing

You can join the Mailing List here to be informed of any upcoming events.

https://www.radix.global/

Hi,

Its a very interesting project. I joined their mailing list. Do they have a bitcointalk.org announcement?

-bitblaster

[hovrah]

I like this idea about native debit card you can use at any point of sale with existing infrastructure. So, it means I can have Radix tokens with low volatility index and spend my balance anywhere with card that costs me only $25? No maintenance fees? As I understand Radix converts my tokens to EUR or USD or other fiat currency instantly?

And this will be different from simple banking services? Especially for this, you need a really good infrastructure so that you can use your cards anywhere in the world. But this can be a great difficulty.

[Munti]

This project is big-time but not in terms of you will get ridiculous gains overnight, you will get steady profit in here for investors not ridiculous but it is safe. What you will get is the ability to take part in a world changing technology. This technology will also take a lot of coins out of the market, has been worked on for years. Not like today where dev comes out asks for 100m to get started on the project lol. I hate 99% of ICOs but I give my full support to this one I also humbly bow down to the dev.

Thanks, means a lot to hear that!

It was never my intention to cash grab, I wanted to fix broken things! Hopefully all the time and hard work myself and others have put into this project will be worth it.

Your holding account will get more coins if the value "goes up", but what if it "goes down", will coins be deducted from your account?

Sounds like a nightmare from tax accounting/bookkeeping perspective.

Without getting into too much detail and jeopardizing our IP, there are a number of ways to reduce the supply without hair cutting wallets (which would be a TERRIBLE solution!!).

Most obvious is to burn fees instead of passing them on as earnings to network nodes.  Transactional and general usage fees are the first port of call, followed by DEX trading fees.  These mechanisms are sufficient for small adjustments but don't offer a huge amount of supply reduction capability in the event of a "crash".

The main mechanism is provided by the fact that to stabilize the base currency independent of oracles and pegging, is that the system itself mediates a lot of the trades.  Therefore if a lot of people are cashing out to USD for example, the Radix tokens can be burnt (publicly thus auditable) by the system in order to reduce the available supply and return confidence to the price.

Regarding the 50% interest payments every time the mkt cap doubles;
Will it be 50% of the initial holding, or 50% of the holding at time of mkt cap doubling?
Say I purchase 1,000 RDX during ICO and 6 months later the mkt cap doubles, by then I spent 900, and own just 100 RDX.
Will I get 500 RDX or 50 RDX, or is it a different formula altogether?

Interest payments are calculated based on whatever balance is on account at the time of that payment.  So if you spent them, you'd only get interest on the remainder.  Therefore as a speculator HODL to take advantage of growth and spend interest only if you have to.

Hi Fuserleer
I finally found time to read up on your project. Good to see it's moving forward. As I have been working on BitBay's peg for the last three years, this is an area of particular interest to me. One of my conclusions has been that a peg that relies on incentives instead of being enforcable, is vulnarable (ref. NUBITS). Do you disagree? I'm aware you avoid using the term pegging, but what you are describing is in reality an attempted hard peg upwards. But you seem to have chosen a very weak peg downwards. Is that correct, or am I missing something. If it is correct, I find it very interesting. That would mean you have made the opposite choice we did. Our peg is very strong and enforcable downwards, but weaker upwards. Why did you make that choice? I would love to hear you elaborate a little on this. (I perfectly understand if you don't want to reveal all details yet. We are also holding back a lot of detail for now.)

[d5000]

patent

Sorry, will never work. (BTW: I was one of the first alpha testers.)

[freigeist]

patent

Sorry, will never work. (BTW: I was one of the first alpha testers.)

What do you mean?
The patenting won't work or the technology won't work?

[d5000]

What do you mean?
The patenting won't work or the technology won't work?

Trying to patent (and thus, totally centralize) a cryptocurrency. Nobody would use that crap. You could simply use Paypal or Visa.

[Big Naturals]

What do you mean?
The patenting won't work or the technology won't work?

Trying to patent (and thus, totally centralize) a cryptocurrency. Nobody would use that crap. You could simply use Paypal or Visa.

Patents stop people copying the tech before Radix is ready to open source the lot, if third parties develop tech & apps for Radix ecosystem I'm sure they wont be hit by patent infringement notices, but if bad actors try nefarious things they would.

When Radix has been developed by basically one guy, it's obviously centralised (i.e. if he goes under a bus before completion things would be grim), but that's exactly the same situation as bitcoin circa 2007/8, everything was centralised around Satoshi until he finished and released a viable version.

The difference between bitcoin/satoshi and radix/fuserleer is in Satoshi's time people were not thinking of ICO's, but today the chances of someone launching a cynical clone of Radix with scam ICO is near 100%, and that would damage Radix a lot.

My view is those who don't like patents should hold off investing until they're comfortable.

[elma]

here
https://forum.radix.global/