Hello everyone.



I believe that r/beermoney would be the right group to approach for feedback and early users. We are currently building a mobile application called as Pupa. At pupa, we aim to transform individual opinions into collective opinions on global issues and topics.



Every day Pupa will ask its users 7 questions, in which users are asked to choose the answer from a group of options. Those who picked the most popular option as answers are then eligible for reward.

Forexample: Who will win the next cricket world cup?

A. India

B. England

C. Aussies

D. Sri Lanka


Out of 100, if 40% user select A, 20% select B, 10% select C, and 30% select D. Then all users who selected A will be rewarded with Bitcoins.

We are team of young programmers, and we are just getting started with the experiment ( planning to release in 2 weeks ). You can follow us on twitter for updates https://twitter.com/PupaNetwork?lang=en and I will be answering to any questions or feedback over here.

Hello everyone,

I am looking for feedback from the community. What do you guys think about it? and what challenges we might encounter to bring it to the masses. At Pupa, we are experimenting to transform individual opinions into collective opinions on global issues and topics.

The Minimum Viable Product would be as follow:

A mobile app where users are asked 7 questions a day. They have to choose the option they believe everyone else will choose as the answer. ( Keynesian beauty contest, choose the picture everyone else will find beautiful )

One example: What is your view of Transgender people serving in combat units in the military?
A. I support it
B. I am against it

If you choose the option which the majority of people choose, then you win reward points ( Bitcoins ).
So for the above question, if 60% choose A, 40% choose B. All the users that choose A, will be rewarded in satoshis equally.

To begin with, we would allow conversion of rewards points directly to Bitcoins ( for people who want to cash out ). Later we can allow those points to be consumed inside the platform as well. Bitcoins allows us to distribute funds globally with ease, hence we choose Bitcoin over dollars.

We are looking to launch our app, in 2 weeks roughly. We have started by posting twitter polls to see how people interact with them. Please follow us https://twitter.com/PupaNetwork?lang=en to keep updated with our progress and launch date, and help us reach out to more people.

Hello everyone,

At Pupa, we are experimenting to transform individual opinions into collective opinions on global issues and topics.

The Minimum Viable Product would be as follow:

A mobile app where users are asked 7 questions a day. They have to choose the option they believe everyone else will choose as the answer. ( Keynesian beauty contest, choose the picture everyone else will find beautiful )

One example:  What would be the total market cap of cryptocurrencies at the end of 2019?
A. 100 Billion
B. 20 Billion
C. 200 Billion
D. 70 Billion

If you choose the option which the majority of people choose, then they win reward points ( Bitcoins ).
So for the above question, if 40% choose A, 20% choose B, 10% choose C, 30% choose D. All the users that choose A, will be rewarded in satoshis equally.

To begin with, we would allow conversion of rewards points directly to Bitcoins ( for people who want to cash out ). Later we can allow those points to be consumed inside the platform as well. Bitcoins allows us to distribute funds globally with ease, hence we choose Bitcoin over dollars.

We are looking to launch our app, in 2 weeks roughly. We have started by posting twitter polls to see how people interact with them. Please follow us https://twitter.com/PupaNetwork?lang=en to keep updated with our progress and launch date, and help us reach out to more people.

I am looking for feedback from the community. What do you guys think about it? and what challenges we might encounter to bring it to the masses.

Hello everyone,

At Pupa, we are experimenting on transforming individual opinions into collective opinions on global issues and topics.

The Minimum Viable Product would be as follow:

We build a mobile app where users are asked 7 questions a day. They have to choose the option they believe everyone else will choose as an answer.

Example:  Which movie should have actually won the Oscar?
A. Greenbook
B. Black Panther
C. MovieX
D. MovieY

If they choose the option which the majority of people choose, then they win reward points. To begin with, we would allow conversion of rewards points to Bitcoins ( for people who want to cash out ). Later we can allow those points to be consumed inside the platform as well.
Bitcoins allows us to distribute funds globally with ease, hence we choose Bitcoin over dollars.

We are looking to launch our app, in 2 weeks roughly. We have started by posting twitter polls to see how people interact with them. Please follow us https://twitter.com/PupaNetwork?lang=en to keep updated with our progress and launch date, and help us reach out to more people.

I am looking for feedback from the community. What do you guys think about it? and what challenges we might encounter to bring it to the masses.

Thanks

I wrote an article before on the same concept you are trying to mention. https://hackernoon.com/are-we-about-to-redefine-money-again-4bed5344ebaa

Yes, sea shells, tally sticks, do not need to have a store of value to be a medium of exchange. The reason is due to "Community agreed barter". As long as there exist, people who treat it as a medium of exchange, it can be used as a medium of exchange. Please keep in mind tally sticks and seashells didn't suffer volatility issues hence could be adopted easily.

Edit link to hackernoon

I managed to articulate my evaluation of Bitcoin as a store-of-value. Let me know what you guys think?

https://hackernoon.com/evaluation-of-bitcoin-as-a-store-of-value-2cb0a7961713

Do clap on medium, that helps me to get more visibility


My old articles which everyone enjoyed was Is Bitcoin redefining money?
https://hackernoon.com/are-we-about-to-redefine-money-again-4bed5344ebaa


Thanks
Arne

Did you imply, "cowrie shells that do not have intrinsic properties ." I made an analogy between Cowrie Shells and Bitcoin when it comes to a medium of exchange. The lack of intrinsic properties for both Bitcoin and Cowrie shell disallow their usage in transactions until agreed upon by a community.

Yes. In order to have Bitcoin, you need money. Such a statement stands true for all forms of money. To gather fiat, you needed gold or assets to collateral for loans.
We have seen money evolve over years from cowrie shells to fiat. I mentioned redefining in that context, whether Bitcoin unlocked an unexplored dimension of money.

Until cryptocurrencies are volatile, they will not replace fiat completely. The aim is not to replace fiat but to open a new market of new currencies.

I believe Bitcoin should become the "money for the internet". Bitcoin as gold, may not work.

Yes, we do have an opportunity to change the monetary system for betterment.

I am still bearish about the role of Bitcoin. I am not entirely confident, about Bitcoin usability, as store-of-value or medium of exchange. Bitcoin has diverged from the path, envisioned by Nakamoto.

Thanks for the kind words. Decentralization would allow us to function, in ways like never before.

Thanks, for the kind words. "Sharing is caring".

We have to remember that everyone in the world does not have the privileges as we do. The digital money would not be able to penetrate countries, without good digital access.

Thank you for the kind words. Yes, Federal Reserve maintained the gold reserve until 1971 for every dollar in circulating supply. Now we use fiat, which is backed by the utility of paying taxes in dollars. Fiat simply means "let it be done", a king's order. We don't need fiat currencies to collapse, in order for stable cryptocurrencies to be used as "valid currencies". If we are successful to create a cryptocurrency, with less than 5% volatility, third world countries can benefit a lot. Once third world countries give recognition to such a cryptocurrency, it may enter the realm of "valid real-valued currency".

Why not? We never had a decentralized currency before, and provided centralized control over currency is a considerable problem. Yes, Bitcoin is volatile, due to the monetary policy followed by the system. Rupees, Dollars have an inflationary monetary policy, debasing rupees and dollars every year. We can experiment to design a monetary policy to keep the price relatively stable.

By money, I meant tool of exchange. Cowrie shells are money, as they are used to facilitate medium of exchange. Hence bitcoin can also be defined as money.

Maybe the title is a bit misleading. If you glance at the article, I have tried to overlay the evolution of money ( historically ) with evolution in cryptocurrency landscape. Bitcoin, Ethereum, EOS, and now stable currencies. I believe bitcoin fits well in commodity money category.

I am merely suggesting, for the first time in history, we have reached a point where it could be possible to build a price stable monetary system, which can be utterly decentralized as promised by Nakamoto, always adhered to a rule-based policy as advocated by Friedman, privately issued to compete against the monopoly of government-issued currencies as dreamt about by Hayek.

Depends on the perspective. Evolution of monies over the period of years was to eradicate flaws the previous form of monies had. Today, we have moved away from the gold standard, ( one of the sound monetary policy ) to fiat. The problem fiat currencies face are that governments or federal reserves are unaccounted for their decisions in increasing the supply. Argentina, Zimbabwe, Chile, are a few examples.

Bitcoin-like systems allow a codified rule to adhere to for the betterment of the system, thereby removing the current problem in fiat currencies provided cryptocurrencies are able to meet other advantages of fiat money.


Yes, you are absolutely right. Bitcoin is more of a commodity. And we know from experience, that mankind heavily relied on a commodity as money, animal horns, crocodile money in Malaysia, Whiskey in Germany.

Fiat heavily relies on coercion, ie. pay your taxes in USD or go to jail. A private money competing against fiat money has to rely on persuasion. People who are persuaded enough with the advantage of such private money ( cryptocurrency ) will prefer to hold coins over their national currencies.

On a long run, national currencies and stable cryptocurrencies will be competing based on price stability. Citizens are free to choose one over the other based on evidence of price stability.