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yell4george
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September 19, 2015, 04:00:05 PM |
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I like where you're going with this. So for this to work you would not be able to buy drkslk on an exchange, is that right?
Correct How is the "stabilization fund" funded?
influx of third party cryptocurrencies. If a third party cryptocurrency wants to join the weaver their coins(the users) will be 'swapped'. DarkSilk will be created and the influx of the third party coin will be used for the fund. (its basically purchasing through the weaver) The fund is stored for later use, or used automaticly to buy up Silk and get it Burned. This is necessary because we would have dramatic inflation on the system otherwise. To postpone the latter process gives room for profit and speculation. But also human error. To burn directly removes oppertunity but also the room for error. Of course a clever man might come up with clever ways... enough to think about. So let's say I have some doge and I want some drkslk. I go to the weaver and swap my doge for drkslk. Now the "weaver" has the doge and needs to sell the doge for btc to get funds to stabilize the silk price. Who controls the weaver? |
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SLievensDRKSLK
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September 19, 2015, 04:13:22 PM |
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I like where you're going with this. So for this to work you would not be able to buy drkslk on an exchange, is that right?
Correct How is the "stabilization fund" funded?
influx of third party cryptocurrencies. If a third party cryptocurrency wants to join the weaver their coins(the users) will be 'swapped'. DarkSilk will be created and the influx of the third party coin will be used for the fund. (its basically purchasing through the weaver) The fund is stored for later use, or used automaticly to buy up Silk and get it Burned. This is necessary because we would have dramatic inflation on the system otherwise. To postpone the latter process gives room for profit and speculation. But also human error. To burn directly removes oppertunity but also the room for error. Of course a clever man might come up with clever ways... enough to think about. So let's say I have some doge and I want some drkslk. I go to the weaver and swap my doge for drkslk. Now the "weaver" has the doge and needs to sell the doge for btc to get funds to stabilize the silk price. Who controls the weaver? Foundations for DarkSilk and Silkcoin should be setup respectively. |
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yell4george
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September 19, 2015, 04:18:13 PM |
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I like where you're going with this. So for this to work you would not be able to buy drkslk on an exchange, is that right?
Correct How is the "stabilization fund" funded?
influx of third party cryptocurrencies. If a third party cryptocurrency wants to join the weaver their coins(the users) will be 'swapped'. DarkSilk will be created and the influx of the third party coin will be used for the fund. (its basically purchasing through the weaver) The fund is stored for later use, or used automaticly to buy up Silk and get it Burned. This is necessary because we would have dramatic inflation on the system otherwise. To postpone the latter process gives room for profit and speculation. But also human error. To burn directly removes oppertunity but also the room for error. Of course a clever man might come up with clever ways... enough to think about. So let's say I have some doge and I want some drkslk. I go to the weaver and swap my doge for drkslk. Now the "weaver" has the doge and needs to sell the doge for btc to get funds to stabilize the silk price. Who controls the weaver? Foundations for DarkSilk and Silkcoin should be setup respectively. and so shall it be http://darksilkfoundation.org/ |
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Orestes
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September 19, 2015, 04:23:58 PM
Last edit: March 24, 2016, 06:39:05 PM by Orestes |
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yell4george
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September 19, 2015, 04:43:13 PM |
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So let's say I have some doge and I want some drkslk. I go to the weaver and swap my doge for drkslk. Now the "weaver" has the doge and needs to sell the doge for btc to get funds to stabilize the silk price. Who controls the weaver?
Or it could keep the Doge if it speculates to go up. Or it could auto sell to BTC then Buy Silk to burn and push the price. I have no deep knowledge of the weaver. Maybe it is an automated system, maybe it is in control by a few trustees. Im just brainstorming  And what's the driving force behind this machine? I mean, i like this machine because it will increase the value of silk, but why? Why will someone want to swap for drkslk? And what use-case is that? And if I'm going through all this because I really want drkslk why don't you just list it on the exchange for everybody to buy? Let's be honest, we're building drkslk to help recover the investments of people who bought silk. If we feel like there will be a large demand for drkslk why don't we just burn our silk for drkslk upon launch and watch the price of drkslk rise? - the devil's advocate |
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yell4george
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September 19, 2015, 04:54:24 PM
Last edit: September 19, 2015, 05:18:13 PM by yell4george |
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Foundations for DarkSilk and Silkcoin should be setup respectively.
Would be cool to have a voting system |
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Orestes
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September 19, 2015, 05:09:03 PM
Last edit: March 24, 2016, 06:39:25 PM by Orestes |
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Orestes
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September 20, 2015, 05:19:40 AM
Last edit: March 24, 2016, 06:40:03 PM by Orestes |
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yell4george
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September 20, 2015, 06:21:32 AM |
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And what's the driving force behind this machine? I mean, i like this machine because it will increase the value of silk, but why? Why will someone want to swap for drkslk? And what use-case is that? And if I'm going through all this because I really want drkslk why don't you just list it on the exchange for everybody to buy?
- the devil's advocate
This was bugging me, so I woke up understanding that it is not necessarily done by the user. It needs to be a mandatory constraint and could thus be seamlessly done. With Silk only existing on exchanges and DarkSilk only in wallets. This would give the benefit of a two-coin system while acting as a one-coin system. This should be easier for the Dev and the exchanges as well. There only needs to be one wallet for exchanges, Silk; the gold to hold.And one wallet for users, DarkSilk; the metal to work with. Imagine you have Silk on your exchange account and you send it to your DarkSilk wallet address. The weaver picks op the first letter of the address string and knows it needs to be swapped first. Same for sending DarkSilk to an exchange, at the moment Silk addresses start with a B so the weaver could know what to do on that trigger. No hassle for the user. And all public or exchange Silk are potentially swapped for private or wallet DarkSilk. Now same can be said for alternative correncies for example Doge. If someone sends a Doge coin to a DarkSilk wallet the weaver could know by address what coin it is and how to swap it. Creating DarkSilk and storing the Doge in the Fund. All seamlessly done without interaction of the user. In the end all alternative currencies need to be valued against Silk, not BTC, much like the Dollar-Oil coupling. This means that Silk should end up being paired on exchanges, a bold move, but hey why not aim high  . Fucking genius |
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Orestes
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September 20, 2015, 06:52:10 AM
Last edit: March 24, 2016, 06:41:05 PM by Orestes |
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Orestes
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September 20, 2015, 08:54:27 AM
Last edit: March 24, 2016, 06:41:30 PM by Orestes |
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bobthenager
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September 20, 2015, 02:25:22 PM |
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\,,/('_')\,,/
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SLievensDRKSLK
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September 20, 2015, 02:30:45 PM |
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Currently building 2 websites for DarkSilk. All 9 nodes are up and running. Messaging updates still need to be done. Gitian descriptors are being done. DNSSeed thread needs to be looked at as Blackcoin latest source/base has broken it. Here is something to keep looking at - http://darksilk.org/ (All is subject to change, don't take anything too literal) |
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yell4george
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September 20, 2015, 08:52:17 PM |
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For those who are more into electric circuits the effects are likened to a RLC-circuit https://en.wikipedia.org/wiki/RLC_circuit, watch this: Power Source (V) - the Weaver by influx of Value Resistor (R) - the Exchanges by selling pressure in Silk Inductor (L) - the Stabilization Fund by change Opposition Capacitor (C) - the Wallets with the stored DarkSilk For comparison sake:  |  You can see all crypto short circuiting around us haha. All this would not have been possible without the weaver. I'm excited! If used correctly all laws of physics should apply making the system more predictable  . Silk would be DarkSilk in current. Which is funny because that would exactly describe price changes, currency. haha! SLievensDRKSLK, what do you think of all this? I would like to hold a community meeting where this can all be discussed. Skype? Really good stuff man. Thats funny about other cryptos "short circuiting" haha it makes sense! How would we determine the conversion rate to drkslk? And drkslk would have to have an infinite supply? |
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Orestes
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September 20, 2015, 10:20:26 PM
Last edit: September 20, 2015, 10:37:08 PM by Orestes |
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Really good stuff man. Thats funny about other cryptos "short circuiting" haha it makes sense!
How would we determine the conversion rate to drkslk? And drkslk would have to have an infinite supply?
Essentially DarkSilk and Silk are the same for user experience, so 1:1 would be ideal I think. Conversion rate of other coins through the weaver should be weighed in Silk. DarkSilk supply approaches infinity yes, or should atleast outpace possible influx. |
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Orestes
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September 21, 2015, 06:44:14 AM
Last edit: March 24, 2016, 06:42:28 PM by Orestes |
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acquafredda
Legendary
 Offline
Activity: 1316
Merit: 1481
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September 21, 2015, 07:50:12 AM |
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Ok guys, I'm not good in terms of dev speaking but I kind of see what are we talking about here.
The project looks really good but still we need to find a new thing, let's call it a killer app that will distinguish us from the rest.
Even though, the weaver might be it...
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