[ANN] TIMEREUM (TME) VERSION 2.0: "ELIXIR" (ELIX) RELEASED (NEW THREAD)

[davide72]

Lending Reward Scenarios are now available. These are non-technical examples of how to use the loan service.

Lending Reward Scenarios

I really appreciate your lending reward scenarios. They clear some of my misunderstanding.

But IMO, most lenders A will do clever mining instead of lending their tokens to someone else. That way, A can earn more rewards (for both lender and borower) without accepting the default risk.

In addition, how do you propose to control inflation since lender A can lend unlimited times?

Initially I too expect there will be more clever miners than real lenders, as many readers on this forum are individuals interested in buying or mining cryptocurrencies. But once a bank or lending service gets undercut by a lender offering lower interest rates for equally risky loans, larger players will likely pay more attention.

In addition, how do you propose to control inflation since lender A can lend unlimited times?

This should be covered in "Combatting Long Term Inflation" in the Dynamic Pair Lending document. If anything is unclear there, I can elaborate more.

quite interesting concept i will have a look more in dettails!

[miningteam23]

It really is an interesting concept. It is a little tough to wrap my brain around it all, but I have faith in the Dev. I'm sure once it gets rolling it will become much more clear.

[Adriano2010]

DONATE TO PUT TME ON AN EXCHANGE:

Ether:

0x85196Da9269B24bDf5FfD2624ABB387fcA05382B

Bitcoin:

1Ewgzk2YYBnHGqjwpnWAqwbFGAJmfTN9QX

If you want to send BCH or another currency, please message TimereumDev.

The faster the community contributes to bring TME onto an exchange, the faster the community will grow. I want to thank those of you who have reached out and offered to help, or who have contributed on your own. Those of you who have worked on logos, translations, and helping new people understand how TME works: that’s been a tremendous service. Even just referring people to the website and resources there has allowed me to focus on development.

Planned exchanges:

Novaexchange

Cryptopia

Livecoin

I sent more 0.00227 btc https://blockchain.info/en/tx/d5c8ad5e40109a6fe326b6975da519c568a34e65232bbf0b5a2765346643aaa2

Common guys donate to get listed on novaexchange

If 48 people who receive TME donate 0.001 btc is enough for dev to pay fee on novaexchange

[viljy]

Lending Reward Scenarios are now available. These are non-technical examples of how to use the loan service.

Lending Reward Scenarios

I like when a contract works and brings some benefit, for example, tokens are used for lending. But the old questions still remained:
1. Initially, the total amount of TME was limited to a maximum amount for 10 years in 50,000 for a couple of addresses. The number of pairs of addresses, as I understand it, is several thousand. How is it planned to limit the infinite growth in the amount of TME, if any lending transaction will generate new coins? I see only a very very low interest rate on the loan. If the couple parent-child addresses roughly accept coin generation as slightly more than 1 TME per day, then in the loan agreement it can be about 0.0001% -0.000001% or even less per day. Considering that such contracts can be thousands. But then will such rates be attractive? How else can unlimited emission of coins be avoided? It's all about numbers and how to calculate them.
2. The case of non-repayment of credit is not clear. This gives rise to the idea that the lending mechanism will in fact be used to generate coins by the owner of the addresses, and not for lending between lenders and borrowers. Now, if there was any mechanism of collateral in the ETH, with the mortgage automatically returned to the borrower when the loan is returned. After that, the creditor and the borrower received remuneration under the contract in TME. Moreover, the pledge of ETH for the time of the loan would have been frozen at the creditor's address, so the lender could not make transactions with collateral coins. If the borrower does not return the loan at all, the mortgage is forever frozen for both the lender and the borrower. As soon as the overdue loan is repaid, the pledge is returned to the borrower who receives the TME reward, and the borrower does not receive anything for the delay. In such a scheme, the borrower is interested in repaying the loan on time to receive the reward and return the collateral. The lender is more confident in repaying the loan, at the same time he can not steal the pledge, since the ETH pledge is frozen. In a pair, a parent-child coin generates a transaction of any size. In the credit pairs of addresses, the contract will be executed only with a full repayment of the amount? And how then to be with the repayment of the loan in installments, in installments? This situation can arise if the borrower simply returns part of the loan. Will the loan agreement be considered fulfilled and generate a reward to the creditor? And if the borrower took 1000TME, returned 100TME, did not receive a reward, but remained with 900TME profit. And the creditor received a small reward, which does not cover 900 loss coins? I believe that in the scheme with the ETH mortgage it is possible to take into account the contract executed only with full repayment of the amount, including by installments. Consider the possibility of implementing a scheme with a mortgage if at all possible?

[jimhuang]

What would happen if a borrower decided to default on his debt? Is there any kind of punishment or recourse? And how can an interest rate be set?

[TimereumDev]

What would happen if a borrower decided to default on his debt? Is there any kind of punishment or recourse? And how can an interest rate be set?

What would happen if a borrower decided to default on his debt?

If the borrower cannot pay the principal and interest, there is no reward for either party (see the section "Total Failure"). Please also read the section "Partial Failure" for an example in which the borrower manages to pay the principal but not the interest.

Is there any kind of punishment or recourse?

This loan system is meant to replace how loans are distributed in the real world. Punishment or recourse would likely be dictated by the lender, as is often the case already. This new currency will have a competitive advantage because it will further incentivize a borrower (beyond any legal ramifications) to play by the rules, and a lender to adopt this new currency.

And how can an interest rate be set?

An interest rate is set by the amount sent from the borrowing address to the burn address upon locking.

[TimereumDev]

DONATE TO PUT TME ON AN EXCHANGE:

Ether:

0x85196Da9269B24bDf5FfD2624ABB387fcA05382B

Bitcoin:

1Ewgzk2YYBnHGqjwpnWAqwbFGAJmfTN9QX

If you want to send BCH or another currency, please message TimereumDev.

The faster the community contributes to bring TME onto an exchange, the faster the community will grow. I want to thank those of you who have reached out and offered to help, or who have contributed on your own. Those of you who have worked on logos, translations, and helping new people understand how TME works: that’s been a tremendous service. Even just referring people to the website and resources there has allowed me to focus on development.

Planned exchanges:

Novaexchange

Cryptopia

Livecoin

I sent more 0.00227 btc https://blockchain.info/en/tx/d5c8ad5e40109a6fe326b6975da519c568a34e65232bbf0b5a2765346643aaa2

Common guys donate to get listed on novaexchange

If 48 people who receive TME donate 0.001 btc is enough for dev to pay fee on novaexchange

This is a reminder to please donate if you would like to trade TME on an exchange, especially if you are a genesis holder.

[Ethvoodoo]

I'm donating! If you need help with contract/solidity logic I can help, i'm a C coder with a background in JS,java,C#,python,lua,vb,ruby,php. Keep up the good work dev!

[jacaf01]

TimereumDev Why on etherdelta.github.io no trade? Any tokens are added can

I'm no technical person, but the developer said the way TME platform was designed, EtherDelta will not support the tokens. I'm not really a fan of EtherDelta the volume on it is very low, what the project need is a good centralised exchange with decent trading volume, for me Bittrex will be perfect

[minereum_investor1]

TimereumDev Why on etherdelta.github.io no trade? Any tokens are added can

I'm no technical person, but the developer said the way TME platform was designed, EtherDelta will not support the tokens. I'm not really a fan of EtherDelta the volume on it is very low, what the project need is a good centralised exchange with decent trading volume, for me Bittrex will be perfect

Let us hope the next currency that is to be released will include the approve() and transferFrom() functions so that it can be traded to Etherdelta.

[genesavich]

What benefits will I  have?

[thepo1m]

Most lending service provider have close down and the one I use and trusted most is BTCjam.com but later close down because of the high default rate. It will be interesting to see how the team design their own platform to reduce this default rate

[melish02]

Lending Reward Scenarios are now available. These are non-technical examples of how to use the loan service.

Lending Reward Scenarios

2. The case of non-repayment of credit is not clear. This gives rise to the idea that the lending mechanism will in fact be used to generate coins by the owner of the addresses, and not for lending between lenders and borrowers. Now, if there was any mechanism of collateral in the ETH, with the mortgage automatically returned to the borrower when the loan is returned. After that, the creditor and the borrower received remuneration under the contract in TME. Moreover, the pledge of ETH for the time of the loan would have been frozen at the creditor's address, so the lender could not make transactions with collateral coins. If the borrower does not return the loan at all, the mortgage is forever frozen for both the lender and the borrower. As soon as the overdue loan is repaid, the pledge is returned to the borrower who receives the TME reward, and the borrower does not receive anything for the delay. In such a scheme, the borrower is interested in repaying the loan on time to receive the reward and return the collateral. The lender is more confident in repaying the loan, at the same time he can not steal the pledge, since the ETH pledge is frozen. In a pair, a parent-child coin generates a transaction of any size. In the credit pairs of addresses, the contract will be executed only with a full repayment of the amount? And how then to be with the repayment of the loan in installments, in installments? This situation can arise if the borrower simply returns part of the loan. Will the loan agreement be considered fulfilled and generate a reward to the creditor? And if the borrower took 1000TME, returned 100TME, did not receive a reward, but remained with 900TME profit. And the creditor received a small reward, which does not cover 900 loss coins? I believe that in the scheme with the ETH mortgage it is possible to take into account the contract executed only with full repayment of the amount, including by installments. Consider the possibility of implementing a scheme with a mortgage if at all possible?

TimereumDev - Is it possible to implement a mechanism of collateral within the Timereum contract, as described above, which seems essential to the lending economy.

[Islapdonkey]

So I have to enter the contract address, symbol etc everytime I log into my ether wallet to check my timereum amount. Is there a way to have it saved like the other alts which I only had to enter the contract address once and it's been saved since then.

[BMG86]

So I have to enter the contract address, symbol etc everytime I log into my ether wallet to check my timereum amount. Is there a way to have it saved like the other alts which I only had to enter the contract address once and it's been saved since then.

Yeah I noticed the same thing. It's kinda annoying to have to put it in every single time.

[KGBx]

Really glad to see 3 more BTC donations! We're getting closer to NOVA voting.

Also, the discussion about loans is really interesting.

[Johnny Carsonogenic]

From other token projects I have experienced, once its on an exchange we will see it stick so to speak.

[minereum_investor1]

Come on folks 

Once TME reaches an exchange, from what we already have seen in the crypto world, it is by far worth the BTC/ETH donation we do.

Keeping our bag as is with no way of currently trading it seems useless, even though Timereum is aimed at getting improved over time so we one day will be given an opportunity to cash out anyway.

Dev needs every community member's support!

[JHB3]

Come on folks 

Once TME reaches an exchange, from what we already have seen in the crypto world, it is by far worth the BTC/ETH donation we do.

Keeping our bag as is with no way of currently trading it seems useless, even though Timereum is aimed at getting improved over time so we one day will be given an opportunity to cash out anyway.

Dev needs every community member's support!

You are totally right, we need at least all the genesis address holder to contribute a little amount and we are soon on an exchange!

[JustMissed]

Come on folks 

Once TME reaches an exchange, from what we already have seen in the crypto world, it is by far worth the BTC/ETH donation we do.

Keeping our bag as is with no way of currently trading it seems useless, even though Timereum is aimed at getting improved over time so we one day will be given an opportunity to cash out anyway.

Dev needs every community member's support!

You are totally right, we need at least all the genesis address holder to contribute a little amount and we are soon on an exchange!

I just donated some eth to the exchange fund, hope it helps. I was busy this weekend so I was a little late in sending.