Here’s an idea for consideration…
Bootstrapping Solution
- 0% to 20% capacity, 0 SC buys unlimited PUTS.
- 21% to 89% capacity, 1 SC buys X PUTS.
- 90% to 100% capacity, PUT unavailable.
Bullet Point #1
This threshold creates a zero barrier to entry as long as there is abundant storage available. Users are free to upload as much as they want without Safecoin, until the Network hits 21% capacity. This solves the chicken/egg bootstrap problem. It also eliminates the need to create multiple accounts.
Bullet Point #2
This threshold goes into effect and adjusts PUT costs based on the supply/demand formula… whatever it may be.
Bullet Point #3
This threshold goes into effect and stops PUTS. It keeps 10% of storage available to compensate for a churn event that has more farmers leaving than joining. There are other safeguards in place to prevent data loss. This is just my way of preparing for worst case scenario.
The percentages are just examples used to illustrate how this could work. If storage really does become abundant, then everyone will be able to upload for free. But if storage fills up, then SC will be required. This network can bootstrap itself without pre-existing SC.