Here is a video to start to get our heads wrapped around how to actually build a community token which accurately reflects the investment in resources deployed to run what should be a three level currency model on a foundation of monetized resources, without fractional reserve BS stoking the value of the currency used which erodes everyone’s buying power.
Initially yes, we will use fiat to keep acquiring resources, resources which effectively get monetized, turned into a money (NAT) based on the utility of the resource given it’s employment in the network, not a currency , so we can build non-inflationary currencies on top that money to enable new forms of ‘grass roots’ prosperity and continue to grow and to run this alternate world of prosperity operating on the Autonomi Network,
until such time the noderunnner permanent storage and other future services hosted on the network paid for in $Autonomi is earned $Autonomi currency generated by the network, to be sufficient
based on us sharing these resources to store data and receive one time payments
that we see the $Autonomi currency earned be sufficient to be spent and be re-cycled into buying more resources to grow the Autonomi network,
thus creating a new purchasing source of currency which effectively over time will cut off the old Fiat system of scarcity currently(and forever in the pas) driving such multiple fiat currency supplies to progressively be larger amounts, which is what drives inflation and erodes the heck out of our buying power.
The real engineering of money challenge for Autonomi is to represent the monetization of the cpu,ram, network and storage resources employed to run the network into a monetized store of value, and that is the opportunity to create a new form of money, to currency,
where that monetized value represents a resource backed value and money, and is not a currency,
where the valuation method of that money used to determine the value of the resource converted into money, lets call it NAT ‘Native Autonomi Token” creation of that money
is related to it’s utility as a system, ie how many max chunks can be stored and antnodes run on that system without over-subscription (a type of fractionalized currency earnings creation which sucks.)
There is a key link from creating this new form of money the value of which is based on the efficient utility of the resource employed relative to the job it performs, that is run the network
and that money, to avoid the fractionalization trap that erodes people’s buying power is only
convertible 1:1 into an internal digital cash certificate a la @dirvine which can be purchased using $Autonomi Tokens to be held as digital savings, but also be converted back to Staked $Autonomi, which can see that Staked $Autonomi be lent out as credit, to be paid back in full of some agreed term in $Autonomi with interest (private lending) or without interest (public local/regional works) per what ever the issue of the credit backed by real value (no fractionalized bullshit) decides.
I am going to post a diagram over the weekend to get feedback here initially on how this all likely works, so we can all attempt to poke holes at it and do some flaw discovery…
The current vs. Desired? Four Level Table in this thread, is a place we can trap this online to further develop the concept, anyone in this thread with the link and a google account can make comments. I will stick the Diagram in that table for now, and we can use the comments there to get things going, then clean it up and publish it more broadly to get more feedback.
I have been studying this for nearly a decade, so I think the Desired? model is close as a workable four level model, where the creation of Layer 1 money in the Desired? system is based on the utility of the resources employed, where to determine the value of a systems to the network in monetary terms we would be using a common algorithm to figure that valuation of the resources to convert it into a digital NAT needs to be figured out. (The earlier PoR effort is definitely useful here).
— 9:39 AM
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grift 🅅 (API surface) or anyone else here doing the daily stuff on Veilid, i’d be happy to talk but as far as integrations go, we’re going to do as much as humanly possible without invoking ‘commerce’ or ‘coins’. Doesn’t mean that there isn’t a place for that, but it can’t be -inside- of veilid. There may be ways to have it co-exist alongside veilid with some kind of connector though.
. But I can’t do that with Autonomi by itself, I need a layer to share live messages and perform some compute to verify submissions are valid and do the actual upload. That’s just the Colony use case. There are so many possibilities that this thing opens up. As long as it works the way I think it does, maybe I’m completely wrong, I’m still trying to understand how it works and its capabilities.
