That would be very interesting. I was thinking along the similar lines when I made this thread.
However, I remain committed to Project SAFE (MaidSafe) until we get underway. I’ve invested in MAID and intend on seeing it through.
I think it would be easier to improve on what “worked” and tweak what “didn’t work” after the SAFE Network has some experience.
I Agree with…
Zero barrier to entry… which paves the path of least resistance and encourages mass adoption. But I’m not naive to potential problems that come with it. If the developer community really likes this Network, they will find ways to resolve those issues, should they arise.
100% payout to farmers… this compliments free upload/download. It is very likely there will be 80% consumers and 20% farmers.
No “pre-farming”… is a good idea because the amount of currency creation requires consumer demand. As the Network becomes popular, the currency supply naturally grows with it.
I Disagree with…
Flat inflation rate, and cap supply. This usually creates a low-hanging fruit situation, which leads to a slow down in productivity (farming).
Instead, I would make standard payout for “good” resources provided. I don’t like reducing payout to a farmer 5 years later, compared to a farmer at launch. If they provide 1TB of resources, they earn 1TB of reward coin. This allows the currency to inflate at the same rate of Network growth. The Network scales easily this way.
I realize people feel “early-adopters” should be rewarded more for taking risks on a new Network. But I prefer to build a Network for all future generations. Continuous growth should be the end result, not a boom bust.
Currency Purchasing Power
This is most interesting because a currency doesn’t always need an exclusive purpose. Obviously, it helps if you’re the petro dollar, and needed for taxation.
If a global recession unfolds, there will be a lot of unemployed people with very little fiat money. I suspect crypto currency valued in fiat terms will crash until governments (central banks) start hyper inflating.
This is one of the reasons I wanted a currency valued in resource terms. In this case: bandwith, storage, electricity, and processing. Everyone gets rewarded proportional to the resources provided. While they are looking for work, they can “easily” generate an alternative income.
Since a currency is based on what it can buy, a good place to start is by providing Network services, making use of that currency. I have several ideas on that, but I don’t want to flood your thread.