Native currency

Sadly ANT price is taking a serious kicking today
it has recovered slightly for now to $0.849 https://www.bitmart.com/trade/en-US?symbol=ANT_USDT

However, IMHO whats left of the BGF should be used to help us get to where the price of ANT is irrelevant to many of us.

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Of course, it is possible to create a third network, as no one is forbidding it but why? The question was about replacing the devnet to be launched on the Sepolia test blockchain with a parallel network under the supervision of the team, with community support. If this is inadvisable because MaidSafe has adopted a different option then there is clearly no point in complicating matters.

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Indeed.
It all comes down to whether the network that will go up to support Impossible Futures is what @loziniak @riddim and others need to push ahead with the Native Currency.

Obviously it would be just peachy if that network could be used for both efforts. But if not ( for tech reasons that I wont pretend to understand for now) then I’d hate to see Native Currency(NC) work stalled for lack of something to test on.

Ideally I’d like to see the NC coders coming together and presenting a plan for inclusion in Impossible Futures. We get the best of both worlds there. But I fully understand that is a lot easier to say than implement and time is tight.

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Sol is much cheaper to use than arb.

Your query gives a distorted view of chain fees, most apps on sol force a minimum of 0.0001 sol per transfer but you could easily get your transaction through for a lot less.
Also, most users on sol add priority fees and jito fees to prevent getting meved.

my arb swaps cost me 0.03 usd today. This is a simple swap through uniswap, i have no knowledge how to reduce this fee, nor what people are paying currently for uploading to our network.

my sol swaps cost me 0.00053 usd today

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Yet you claim sol to be 100x cheaper :wink:

With arbitrum you can set lower fees than default too and - surprise - can get away cheaper than with standard settings too.

With setting a 0.01 gwei max fee we don’t get to your

For a swap… But e.g. To 0.02 for a tx with 18 outputs (so ~0.001 per TX output)

(just a random upload I looked up on arbiscan)

So yes your right sol is cheaper, if it is as much cheaper as you claim is highly questionable and even if it was 10x cheaper (which I doubt) that wouldn’t resolve the issue coming with Blockchain fees… It would just make it slightly less an issue for large data amounts and for home users that just want to upload their family pictures and videos the current fees are just pennies anyway and not an issue either :man_shrugging:

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I’ve been thinking about this whole native currency thing and I feel the need to add something to the debate. I’m not gonna lie, I’ve always been quite happy with the introduction of a L2 token instead of native because of all the reasons the team mentioned (safer (at first), exchange adoption etc.). My opinion is rapidly shifting though and many of the reasons have also been mentioned here (less user friendly, costly at times etc.), but one very important argument that makes me feel the urge to prioritize a native currency more has not been mentioned here yet.

Ethereum is struggeling, and it’s been struggeling for a while. The main reason is L1 is simply not used as much anymore, everything has been shifting to either other chains (like solana) or ethereum L2, like the one we’re using. The problem with these layer 2’s is that they’re basically making Etheruem a massive data warehouse where L2s can store their data rent-free. What I would expect to see is Ethereum shifting their business model sooner rather than later, and if they do, taxing layer two for the chain usage will be a likely scenario.

Fees for storing data on Autonomi is already out of proportion, but if this would happen it would be disastrous if we’re not prepared.

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For me the whole L2 (or even L3) concept is just temporary thing, that is why I never invested in ETH at all. It works, but it is way too complicated for average Joe.
People are used to collect points/tokens and use prepaid cards tied to specific company, but L1/L2 chains, bridges etc., those are very hard things to explain to non-tech people.

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Just a superficial clueless observation…

What I’m missing is

  • atomic swaps
  • Data of n bitcoin, altcoins, fiat, real world assets fits in 1 chunk on the Network (err 5 or 8 chunks)
  • Unlike all other cryptos and fiats out there, ANT is backed by Network resources

If your not coding for people to stay on the Network, you and those people, will find out when AI is on the Network…

Seems an interesting discussion took place last week. I wish I was there! I hope tomorrow I’ll make it.

I think that was the case with Native Token, and problems were with scanning the DAG for rewards accounting.

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I am tech savy, I can handle any crypto, but my biggest problem is, that I really do not want to report thousands of crypto transactions to Tax office because I used autonomi as my photo backup solution. I even play with autonomi cleint code, but I never tried to upload anything, just downloaded test files. That is total legal nightmare. Even native crypto token will not solve it, it is still crypto.

So I would like to bring into discussion, the topic of creating some nontransferable right for upload. This mean some “receipt”, that can’t be transferred or sold. It can be bough with native or erc20 currency, maybe it could be earned by running vault.

This would allow someone to operate a real business, where he can sell people the “receipt” credit directly, and people could buy it with their CC, and it would not be covered by crypto laws, just by business laws. The operator selling such nontransferable receipt could collect cash, and under the hood buy that prepaid “receipt” for the user on autonomi using his erc20/native token. This way, anyone can join, business operator does not need to do crypto regulation reporting, and everything would be much much easier.

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Credits? Like arcade game machines have once you put tokens in.

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Like almost every modern game on smartphones. Almost each of them have some kind of virtual currency, you pay for it with credit card, and since it can’t be moved out, and has no monetary value, can’t be resold it is just a virtual product that company sells. There is no law required reporting it as a crypto transaction.

If any of those games allowed reselling of their internal currency outside of the game, or between users inside the game it would instantly fall into different category.

I have been dealing with payment providers and games with virtual currencies for many years, and all payment providers reject it if that virtual currency has a monetary value outside of the game. If it is inside the game only, and can’t be transferred between users they have no problem with that.

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I think something like this could seriously lower barriers to entry when trying to sell Autonomi as a backup solution to SMEs

Most folk (sadly) are not really that interested in privacy issues - plenty of reasons, no need to debate that further right here.

However

Buy these credits, store that data forever

could IMHO make selling into SMEs a LOT easier.

Always remember, its the accountants you need to keep happy if you have any hope of selling to SMEs, it doesn’t matter how much the techies and mgmt like your solution, if the accountants encounter friction, it’s almost always a “NO!”

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Well, just build up a company that sells that. Pay 1$ to the company, send 1G of data, you will get an http address where your data will be available for ever.

It would be fun if alt ANT would work like this on the Network

  • UTXOs
  • Amount (have purchasing power on the Network)
  • Number (like the numbers of protons) 0 would be ANT, 1 would be btc for instance
  • Swap (electron that hop from atoms) / Currency basket (share electrons)

I know for sure that I’m missing something…

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THIS. Rewards has messed up so many aspects of the network.

Rant:

If anyone forks the network to add in native currency, ‘rewards’ needs to get the boot. We don’t need vast numbers of empty nodes sitting around waiting forever for data, while we dilute the entire value prop of the network paying for their idle time. Not to mention the increased risk of cascade collapse failure.

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