0.22 ETH($642)Due in 8 months·OpenresearchBe wrong about Index WalletsConnor McCormick ~ jtrending@nor·4moHelp me be wrong about Index Wallets .22 ETH Everything you should need to know can be found here: preprint.indexwallets.org This bounty has various sub-bounties, when the money is used up it's gone. See next cast for sub-bounties @bountybot5215View in Warpcast
Connor McCormick ~ jtrending@nor·4moBounties on .22 ETH: 30% - index wallet economies don't settle to a shared valuation at steady state 25% - index wallet don't have wealth equalizing dynamics 100% - index wallets can't be used to fund public goods 100% - there's a way to evade the voluntary taxation* 5% - they don't favor local businessesOriginal poster
Crypto Down Under@cdu·1mo·Completed 0 bountiesHey @nor, my understanding of Index Wallets highlights the following: - 'value' appears to be a preference not price, what if my preference is 0% that token? Then the mechanism will charge you an infinite quantity of said token and the payment will still fail - ...1st degree followPay user
Vibrantty🎩🍖@vibrantty·3mo·Completed 1 bountyGm @nor I got stucked working on a prose for this project then I figured it out, I should turn in my submission soon but i would like to know when is the final deadline1st degree followPay user
Bounty Bot@bountybot·4mo·Completed 0 bountiesConfirmed! On your bounty page, you can pay users directly and view their bounty completion history Your 🤖 Commands - @bountybot cancel - @bountybot in progress - @bountybot complete (optional: tag winners)2nd degree follow(via@dwr.eth & 205 others)Pay user
Richpepe.eth@richpepe.eth·3mo·Completed 0 bountiesI think this can be summed up by: the value has to come from somewhere. Meaning in order for any fund to continue it needs value to be extracted from outside and injected back to public goods. There’s many creative methods for using a pool of funds to invest then emit profits to token holders, or by taxation.2nd degree follow(via@n & 11 others)Pay user
Vibrantty🎩🍖@vibrantty·4mo·Completed 1 bountyGm, I would like to help with this task is there an onboarding process?1st degree followPay user
Vibrantty🎩🍖@vibrantty·4mo·Completed 1 bountyAlright, thank you for the opportunity.1st degree followPay user
Connor McCormick ~ jtrending@nor·4mo*index wallets can't be used to fund public goods* Show that it's not actually feasible for index wallets to be used for funding public goods. Assume that an economy has high adoption of index wallets and a public good some subgroup cares about, make an argument that that's insufficient for the good to be funded.Original poster
Connor McCormick ~ jtrending@nor·4mo*index wallet don't have wealth equalizing dynamics* In an economy with high adoption of index wallets and a steady creation of new public goods currencies, make an argument that this doesn't actually lead to wealth equalizing dynamics. Wealth eq means the gap between rich and non-rich shrinks.Original poster
Connor McCormick ~ jtrending@nor·4mo*there's a way to evade the voluntary taxation* The assumption of index wallets is that they tax you using incentives based on your private belief of your wealth. Show that doesn't work there's a scheme for a player to evade voluntary taxation by moving money around.Original poster
Connor McCormick ~ jtrending@nor·4mo*index wallet economies don't settle to a shared valuation at steady state* It's thought to be likely, and maybe important, that index wallet economies tend to settle to a shared valuation for everyone in that community after the economy has run for long enough A person is "in" an economy if they both buy and sellOriginal poster
Connor McCormick ~ jtrending@nor·4mo*they don't favor local businesses* Some of us believe that index wallets are likely to make local businesses more competitive than nonlocal businesses (multinationals or just from out of town). Earn .011 ETH to show this is not the caseOriginal poster
Connor McCormick ~ jtrending@nor·4moIf you have any questions about these or want to share a draft to get early feedback, please let me knowOriginal poster
Connor McCormick ~ jtrending@nor·4moThanks for your interest! First, review the materials at this link: preprint.indexwallets.org Best probably to start with the videos listed there. Then select one of the sub-bounties that interests you. You can submit your argument in whatever form you think is most compelling: code, prose, math, etc.Original poster
Connor McCormick ~ jtrending@nor·1moYep that's correct. If you have a 0% endorsement and the only thing in their wallet is that currency it will be infinitely expensive to transact (i.e. it will fail). But if that 0% endorsed currency is only one of many it will still be possible just expensiveOriginal poster
Connor McCormick ~ jtrending@nor·1moThis one I'm not quite getting. What I would say is that valuation is set by the index wallet owner. If they are setting a widely traded currency then yes they can inherit that valuation from the market. But if it's only traded between index wallets they'll be considering other things like how many ppl share the valOriginal poster
Connor McCormick ~ jtrending@nor·1moIf that were the issue with Bitcoin it would have been easily solved by instant settlement layers like what Coinbase offered a decade ago. The reason there isn't wider adoption of Bitcoin for purchases is: ...Original poster
Connor McCormick ~ jtrending@nor·1mo- ppl treat it as a speculative asset, they hodl not spend - Bitcoin doesn't offer a prosocial value proposition (and is at least partially antisocial) - it's not clear to latecomers what they get out of switching. (even inflation protection arguments here fall flat, bc there are good arguments for inflation)Original poster
Connor McCormick ~ jtrending@nor·1moIt's not proposed as a portfolio management mechanism. The value proposition on the group level is: fund the public goods in your network state without centralized taxation. The value proposition on the individual level: get the businesses you buy from to support the goods you value.Original poster
Connor McCormick ~ jtrending@nor·1moIf I'm understanding: you're worried there will be millions of tokens in every wallet? Or what do you mean by deflation of public goods token?Original poster
Crypto Down Under@cdu·1mo·Completed 0 bounties- Price is determined by last successful transaction, which is dynamic and can occur outside of the exchanging for goods or services in your examples, such as direct trades of say USDC-EXAMPL - ...1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bounties- which poses the same issue that prevents wider adoption of Bitcoin that vendors don’t want to accept something whose price they can’t rely on - …1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bounties- An index wallet sounds like you pay with a proportionate representation of your wallets’ portfolio, which aside from encouraging use of public goods tokens,1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bountiesI can’t see why users would be motivated to prefer this apart from maintaining your wallet portfolio percentages and not having to choose a specific currency which could be maintained by other novel mechanisms - …1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bounties- A bigger issue is deflation of the public goods’ token mitigated when it appears there is only an issuance mechanism and no burning mechanism.1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bountiesBut if the mechanism works on proportionality, and portion of infinity is infinity. Unless I misunderstand1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bountiesCool, is this a manual process or set to market value by default? If manual, it seems too cumbersome to be adopted by vendors because there will be many public goods tokens1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bountiesThese points are valid but from a vendors perspective, instant settlement doesn't matter if the price of the asset is unstable1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bountiesI understand what it's trying to achieve but what I want to understand is how it will achieve that from a practicable perspective, how will this mechanism achieve these goals? Why will people use this, why will they believe it can achieve its goals1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bountiesI believe that for the mechanism to be widely adopted the public goods tokens need to have stable value. If they are only issued then their value will deflate1st degree followPay user
Crypto Down Under@cdu·1mo·Completed 0 bountiesI don't know if it's possible but I have previously thought about some dynamic model that adjusts token quantity in all wallets every block to maintain price but concluded that it has little benefit over asset backed stablecoins1st degree followPay user
Connor McCormick ~ jtrending@nor·3moEnjoyed this article: https://paragraph.xyz/@onchainhunt/its-time-for-the-apps Would love to see your thinking applied to thisOriginal poster
Connor McCormick ~ jtrending@nor·3moI didn't know the bounty had a deadline. Feel free to submit when you would like. End of this week would be good timing so I can reviewOriginal poster
Connor McCormick ~ jtrending@nor·3mowould love to update it so that they're open until the end of the year at least. this one doesn't need a resolution date it's a standing bountyOriginal poster
Connor McCormick ~ jtrending@nor·3moHey @vibrantty, did you manage to make progress on your submission?Original poster
Linda Xie@linda·3mo·Completed 15 bountiesBounties default to 2 week expiration so they don't become no longer active / too stale on our site. LMK if you want me to update the expiration date (self service bounty updating coming soon)1st degree followPay user
Linda Xie@linda·3mo·Completed 15 bountiesSounds good! Just updated https://www.bountycaster.xyz/bounty/0x155206a4a252e7669a7ed1028df1e89930766a501st degree followPay user
Vibrantty🎩🍖@vibrantty·3mo·Completed 1 bountyI had technical issues with my pc drive, had to rework the prose but fortunately i had a draft somewhere…I would turn in the submission this week didn’t mean to delay💪1st degree followPay user
Connor McCormick ~ jtrending@nor·4moBounties on .22 ETH: 30% - index wallet economies don't settle to a shared valuation at steady state 25% - index wallet don't have wealth equalizing dynamics 100% - index wallets can't be used to fund public goods 100% - there's a way to evade the voluntary taxation* 5% - they don't favor local businesses
Connor McCormick ~ jtrending@nor·4mo*index wallets can't be used to fund public goods* Show that it's not actually feasible for index wallets to be used for funding public goods. Assume that an economy has high adoption of index wallets and a public good some subgroup cares about, make an argument that that's insufficient for the good to be funded.
Connor McCormick ~ jtrending@nor·4mo*index wallet don't have wealth equalizing dynamics* In an economy with high adoption of index wallets and a steady creation of new public goods currencies, make an argument that this doesn't actually lead to wealth equalizing dynamics. Wealth eq means the gap between rich and non-rich shrinks.
Connor McCormick ~ jtrending@nor·4mo*there's a way to evade the voluntary taxation* The assumption of index wallets is that they tax you using incentives based on your private belief of your wealth. Show that doesn't work there's a scheme for a player to evade voluntary taxation by moving money around.
Connor McCormick ~ jtrending@nor·4mo*index wallet economies don't settle to a shared valuation at steady state* It's thought to be likely, and maybe important, that index wallet economies tend to settle to a shared valuation for everyone in that community after the economy has run for long enough A person is "in" an economy if they both buy and sell
Connor McCormick ~ jtrending@nor·4mo*they don't favor local businesses* Some of us believe that index wallets are likely to make local businesses more competitive than nonlocal businesses (multinationals or just from out of town). Earn .011 ETH to show this is not the case
Connor McCormick ~ jtrending@nor·4moIf you have any questions about these or want to share a draft to get early feedback, please let me know