basic income

[Anonymous No.15134406]

Hello Anon

I've come up with an idea called a delegated coin offering as an implementation of basic income. Consider it binding human income to an ERC20 asset.

e.g. we move to post-capitalism by giving wealthy individuals an asset to invest in that is human income.

I believe distributed turing machines is how these types of systems are bound into reality.

Anyway, I made a prototype and deployed it to the Ethereum mainnet, you can check it out here

makedco.io

pic unrelated

[Anonymous No.15134736]

GET THE FUCK OUT WITH YOUR FUCKING COMMUNISM. UNIVERSAL BASIC INCOME WILL NEVER WORK.

[Anonymous No.15134742]

>>15134736
Basic income isn't communism. It's a capitalistic bandaid

[Anonymous No.15134755]

>>15134406
this is your brain on eth-narratives

[Anonymous No.15134786]

>>15134736
it's not universal basic income

it's just a basic income system

[Anonymous No.15134807]

>>15134406
I've been building a similar system, but one based on an asset that generates wealth on its own rather than expecting altruism to be a choice made by anon. Anon isn't into that. Anon requires game-theoretically proven reasons to engage in altruism.

Have you given any thought to the wealth-generation side of things?

[Anonymous No.15134814]

>>>/pol/

[Anonymous No.15134868]

>>15134807
What's the mechanism of wealth generation?

The idea behind this system is speculative value of the token (and other basic income tokens like it) in the future. e.g. use this system, then deploy a million member version on EOS, then a billion member version on next generation networks. Then make a market index type thing with all of them.

Hopefully it becomes an asset class, like trading debt, but trading assets.

[Anonymous No.15134921]

>>15134868
People speculate based on anticipated gains.

If you're telling us that the sole purpose of your token is to redistribute the value of a 'speculator's' gold to other people at the speculator's expense, it ceases to be a rational investment.

If your token is has a utilitarian value, like chainlink being used to pay for oracle input or ether being used to pay for contract execution, speculators would happily put in present-money with a rational expectation that they could withdraw a greater sum of future-money.

Care to elaborate? I materially support projects that seek to avoid the impending famines of global fiat collapse, providing they're primarily a win for investors.

[Anonymous No.15135044]

>>15134921
The system creates value by limiting supply.

Presumably there is a demand for basic income. The proposition is "pay 0.1 ether to control X auctions at Y tokens per auction". Upon paying this ether the purchaser is also receiving token at the current exchange rate.

There's a fixed number of auctions available. Every 6 hours a maximum of 10 auctions can be created, each lasting 120 cycles. This puts a logical limit on the number of participants in the system (in this case 1200).

Purchasing control of an auction is purchasing the ability to create tokens in exchange for ether. Users that control auctions can collect the token if no one purchases the token for sale; or if it's financially viable to arbitrage against an exchange. (In any case collecting the coin at the end of the cycle is the only rational thing to do, otherwise the ability to mint token in time is wasted)

The makeDCO creator receives funds not from tokens sold, but from auctions sold. Auction holders have the ability to choose between waiting for ether from external purchasers, or receiving token for the transaction cost.

People collecting the token are doing so with the assumption that larger basic income systems will be built, and that exchanges will add support for the token.

Just to get to a total supply that could feasibly support exchange trade will take at least ~3 months.

[Anonymous No.15135098]

>>15135044
Lol cya

[Anonymous No.15135102]

>>15135098

[Anonymous No.15135166]

dude I read sentences on sentences and I don't have a fucking clue what your gay project does
make it clear or fuck off

[Anonymous No.15135176]

>>15135166
yea, that's fair, it's difficult to abstract

[Anonymous No.15135632]

Explain this to a 5 year old. Because if you can't , you will never get users.

[Anonymous No.15135716]

>>15135632
True. America does has the collective mental age of a 5 yo

[Anonymous No.15135723]

>>15135716
*HAVE

fuck!

[Anonymous No.15135806]

>>15135723
So I'm reworking it a bit. Instead of the coins disappearing after each cycle, they're instead credited to the auction owner.

So "You are paying 0.1 Ether for 1000 mDCO every 6 hours for 30 days."

"During each 6 hour cycle the mDCO is Auctioned for between 1 and 0.1 Ether; income from that and any unsold mDCO is credited to you. You will receive ownership of a mixture of mDCO and Ether every 6 hours."

Does that make sense?

[Anonymous No.15135851]

>>15135806
>Does that make sense?
no

[Anonymous No.15135893]

>>15135851
Ok, thank you all for your time.

I 404d the url while I update the contract, I've got a good direction.