Re: Ethicoin is coming: Ethicoin's purpose is to improve the condition of humanity
Devcoin 2.0 indeed.
Which also means you have to release more information on how the spending of this 50% will be decided. Unless you are a bunch of fullblown geniuses, there is just no way you can get that part right. Also, the 50% cap is entirely arbitrary.
It is quite clear that a devcoin type thing CAN work - in principle. A kind of coin that effectively self-organizes into a society. We're talking DNA. However, how can one develop such a coin?
Either make a Devcoin 3.0 that aims solely to create a new successful coin. The reward for adopting the first coin and becoming a part of the revolutionary creation-project will come (insert ingenious solution here) when the second coin becomes successful.
Or just open-source the revolutionary creation-project of the DNA-like coin that can self-organize into a society.
Which also means you have to release more information on how the spending of this 50% will be decided. Unless you are a bunch of fullblown geniuses, there is just no way you can get that part right. Also, the 50% cap is entirely arbitrary.
It is quite clear that a devcoin type thing CAN work - in principle. A kind of coin that effectively self-organizes into a society. We're talking DNA. However, how can one develop such a coin?
Either make a Devcoin 3.0 that aims solely to create a new successful coin. The reward for adopting the first coin and becoming a part of the revolutionary creation-project will come (insert ingenious solution here) when the second coin becomes successful.
Or just open-source the revolutionary creation-project of the DNA-like coin that can self-organize into a society.
Thank you for your feedback.
The 50% was eventually decided as a means of distribution to give miners more % for deciding to mine Ethicoin, than BTC miners currently earn mining DVC. I wish we were geniuses, but the reality is we are just idealists of which some of us can code
The foundation of the how the 50% will be distributed can be seen in DVC's code and concept of receiver files; we are still ironing out the details but these will be well and truly resolved before the official ANN thread. As discussed above we will also give plenty of time for projects to apply to be on the receiver files before launch.
Looking forward to the emergent AI driven self organizing cryptocurrency you mention