Quote from: franky1 on May 21, 2022, 10:40:28 AM

Quote from: InterloperRa on May 21, 2022, 12:53:34 AM

I think the artificial difficulty defeats that definition of value. If the difficulty goes down due to some natural disaster or electricity becoming scarcer but bitcoin trades higher due to speculation, does it mean the value of bitcoin goes down? The computation cycles used is artificially enforced. Why not use the other computational resources like storage, bandwidth & useful proof-of work?

by having (like bitcoin has) natural difficulty adjustments that adjust based on competition(more hash=higher difficulty) means that from the start the 'value' is low and grows as things get more competitive.
yes competition can decrease too meaning value can decrease. aswell as mining efficiencies can make the value less if its cheaper to mine. so this is variable and not stable. and requires the desire to work to keep it up and growing.

artificial difficulty such as pre-setting the difficulty at a certain level can cause many things. such as a initial barrier of entry for the poor if too high. or no desire to get involved if too low..whereby if too high alot of investment is needed upfront just to be capable of reaching a high threshold from the start. and if too low, your adoption wont grow quick

you would need to think about what an acceptable threshold can be, that both doesnt become a barrier of entry, but also doesnt make it appear as under-over valued from the start.
bitcoin found the best method. starting low and allowing natural growth. it was in no rush to gain world wide adoption.

but if you are looking for a 'reserve' currency everyone adopts quickly before CBDC. you are going to need to find a solution that has a stable value aswell as not being a barrier or unvalued.

finding a stable value the world can agree on is tough.
for instance with bitcoin. its value window this year is based on ~$27k to $74k window. due to discrepancies in electric costs in different regions.
whereby in africa. they dont see much benefit in bitcoin because to buy 1 btc costs them 200x more labour hours than america for the coins.. $27k in america is a naverage 1 year salary. but in africa with is 200 years salary
. and separately for the utility..
although america see fee's are only $1(6mins of min wage) africa see that same $1 fee as being 20 hours of min wage labour
(this is where american know africans wont use it for daily use. and americans dont want africans using it daily.. thus bitcoin is not thought of as a digital cash for the unbanked anymore)

so you are going to need to think of a hard solution that is of equal value for all around the world to have a equal 'reserve value' that is stable that the whole world values and wants to use/accept

if you want a stable 'reserve' where everyone around the world can all agree on one single long term number . you will have to find a 'proof of value' cost that is observable and workable across the planet at the same rate

some people envision this to be 'minimum wage' where by its not measured in currency amount upfront and then converted to minutes after. but instead in minutes upfront. whereby everyone on the planet works 1 hour. for 1 hour of token. and then and only then. that token is converted into a local currency amount.
the consequence of this is obvious.
knowing 1 hour in africa is worth 200x less than 1 hour in america ($0.05 vs $10) based on forex rates.. americans would use forex to convert dollars to m-pesa(african common currency) then buy 200 tokens on african exchange, instead of 1 on american exchange. and then sell them 200 tokens back on an american exchange for the price of american minimum wage value.
which would cause a arbitrage reaction on the forex fiat market where eventually $US crashes and the mpesa inflates to become on par, where an african min wage is equal to an american minimum wage... sounds good on paper. a token that can destroy the value disparity of different countries labour. but in reality. governments wont like it and will certainly step in to outlaw your token to prevent this

Quote from: InterloperRa on May 21, 2022, 12:53:34 AM

There is no one country creating 1 Trillion Tokens. It all countries receiving the incentive/premine in the proposed currency for transitioning away from the dollar & to issue verified credentials.

Also the dollar reserve currency status was due victory in world war 2 & Bretton Woods Conference by 44 nations & before that the pound was there due to colonialism. Should we wait for war or collapse of the US economy for the discussion to happen again? Should the global south keep accepting inflated dollars/euros in exchange for their natural resources & goods while global inequality increases?

sounds like you want a replacement of fiat/government agencies.. rather than a free/open choice beside fiat(future CBDC version)/beside government birth/death/identities agencies.. that people can use as a option to hedge against fiat(future CBDC)/government agencies.
the problem with thinking that you can replace fiat/government identity agencies is the problem of thinking you can destroy government first.
you dont need to wait for war to slide your token in. there are already THOUSANDS of tokens that exist now that have different functionality/utility/proofs. but they wont replace fiat/government identity agencies. so think more about a token that actually can store value and can work alongside fiat where people choose to use it. and choose to accept it. without the fight

Quote from: InterloperRa on May 21, 2022, 12:53:34 AM

Even the US had to come up with the Marshall Plan & IMF quotas to make dollar acceptable. So sovereign states running such nodes & issuing their CBDCs & bridging their economies to the proposed platform/blockchain would signify its 'value'

AGAIN this doesn't replace fiat currencies but allows them to be tokenized & inter-operable so sovereign states won't lose their monetary sovereignty.

you wanting a token based on identity registration and with a value element attached to the token. then becomes a barrier of people then having to pay to be registered for their identity.
again with the differential of 'value' based on regions/forex. you will have to overcome this.
EG if you set it at $5 a registration. yes cheap in america. but thats like 100 labour hours in africa, meaning africans wont want to register their child or become bankrupt/poorer for having to by force register their child.
and if your system has no requirement to enforce registration. you are just not going to have majority of the planet use your system.

you also run into the problem of then having to be recognised as legitimately proving identity to a high level that is acceptable to people as undeniable proof. or high majority of utility to warrent being recognised as valid proof
EG a UK 'disability concession bus pass' has a photocard that has been authenticated. but no one cares to treat that as identity proof.

also many crypto token enthusiasts have tried making identity ledgers, but many forgers have faked records.
EG there used to be a 'web of trust' where people would register their credentials to a public key and then have several random other users vote/sponsor/validate that identity. the issue became though that someone would set up several identities and then just sponsor his own new identities or identities of other nefarious actors faked ID's.
others would be that some cases were acceptable, but only in small niche communities. where everyone knew everyone, but didnt work outside those communities

if you make it too cheap to register an identity. those validating it wont put much effort into background checking such identities. if you make it too expensive. then you will find people reluctant to register. especially hard to achieve if you are trying to get random people to authenticate other random people in a wide community where they dont know each other prior to registration request.

you would need to have a system of proven midwifes validating births, parents notarising, signing witness/proof of their new child(EG birth certificate system). just for a trust element.. and other proofs of real life authenticity.
without the reliance of integrating(partnering) with government identity agencies
(many people have photoshopped their driving licences when uploading to services)

this usually is done in the real world by witness statements of birth(doctors and parents signing birth certificates) and also the court system and laws of fines/penalty for lying/falsifying records.
but harder to achieve online amunst people that dont know each other. not close enough to meet each other to prove life.

other thoughts already looked at in the past are that you would need some 'penalty' system in place aswell. otherwise people would invent identities for profit if there was no consequence..
EG when coinbase first started and offered $5 of coin for signing up. everyone made multiple accounts using fake Id's.. coinbase has no system to self authenticate. and it now relies on government agencies to authenticate and coinbase has punishment terms in its service agreements for users that fake identities

however the consequences of these penalties, is that these too can be played with for profit. and/or overly enforced/used.
EG a method to steal tokens from someone under X circumstance becomes an incentive for people to cause such event just to profit from it.
(many have wanted a punishment added to bitcoin that if coins are not moved after 8 years those coins can be spent back to miners. (facepalm, glad they never added that))

some had already envisioned tokens that 'lock' (stake) tokens as a penalty collateral that can be lost if found guilty of falsifying records. but that too then becomes a barrier of entry of needing X token upfront to lock/stake just to be part of the system.

again if your not looking to replace the government then your token would need a robust authenticity and penalty algo that is not able to be abused and also self regulating to retain trust. because you wont want to have to rely on integrating it into being a government to then have to have courts/law enforcement/identity agencies to validate claims

good luck with all that.
i personally think you are throwing out lots of idea's and lots of buzzwords of bitcoin and satoshi to make your advert(ooops proposal) sound like it has substance. but you are too aimless in your plan to have anything concrete. you say you dont want to replace fiat/government but then say it will. you want a valued token but a identity token. without planning on the deeper requirements/consequences of both
you are not ready for coding developers yet. you proposal needs more work on the fundamental nature and structure of utility and trust at the functional real world level before getting coders to code it for you

Well I applied to DARPA & Built it LOL

Using Quantum Mechanics & AI Physics Simulations

The proposal has been delved a lot further

I will soon be making an announcement. The supranational currency is now a Web3 in-game currency wink wink

https://gendelve.com/

https://github.com/InterloperRa/TimeChain

Satoshi kept calling it timechain for a reason!