Implement the social smart contract economics in Sovereign

[virgile-dev]

This could be turned into an EPIC. But we could start by dripping votes into Sovereign users wallets according to the principle set by the paper. This could provide with really interesting data.

Meaning 1 vote every 4 BTC block (approx 40 minutes)

What do you think @santisiri ?

[herbstephens]

Hey @virgile-dev .. nice graphic! Two points: 1) "U.S. min wage" .. might not be clear that it is 1/60 of $7.25 (which is the U.S. min wage) .. 2) "total (is.capped.by)" .. in addition to {world.poplulation}, should we include {bitcoin.time} or {block.time}?

[virgile-dev]

Hey @herbstephens it's the one from the paper.
For 1), yes we could signal that it's 1/60 of an hour.
2) I don't get how the vote token network is capped by bitcoin time.

[santisiri]

I think we need to do dripping under @herbstephens model of 1 token per hour and have a fraction of milliseconds (or the fastest it can be perceived at human frame rate).

We should do this to verified accounts. Verified accounts at the stage we are right now should be through a model of co-optation.

Next step is issuing a certificate for this time-based accounting using ERC721. We can subsidize some to bootstrap network. Time in ERC721 is backed by DEF's token.

[herbstephens]

Hey @virgile-dev @santisiri ..

re: capped by time .. I envision the creation of tokens (post-ICO) coming ONLY from verified accounts .. and capped at a maximum of 8 hours per day (or 480 vote tokens per day). Because 36 will be automatically dripped at a rate of 1 every 4 bitcoin blockchains, the balance (444 votes) would be eligible for creating (or 'mining', ?). Can we simply set a limit to 3 per bitcoin block? ..or simply <max 444>?

Thinking is ... the trigger of the vote mining is simply the receipt of equivalent value to a "personal exchange" .. and the corresponding acceptance by the receiving party. In this sense .. someone is "buying your time" ... AND then your time is stored in a stable coin. [rather than fluctuating wildly in local currency, for example]

[herbstephens]

...and keep in mind: the vote token value (upon mining) will then be backed by real value (much like gold backing the US dollar). We 'simply' need to do so without ourselves becoming an exchange.... :-)

[Jean-Baptiste-Lasselle]

.....?