I'm hoping to work for the Nu project on documentation and development. We'll see how that works out. But just from doing some refreshing of my Nu knowledge, and from a thread I posted about a DiploCoin idea on /cryptocurrency
, I've had the idea I'll describe herein.
This is not projected for anytime soon. NYAN2 and NYAN3 are important for security fixes and a demonstration of basic technical capacity. Mobile and lightweight wallets are going to be a nice addition. This is a next-generation project, probably not for implementation before 2018 at the earliest, after the aforementioned core NYAN projects are complete.
The concept for Nyanshares (NYS ? NYAN-SR?) is a culmination of my earlier ideas about trying to have dividends for NYAN hodling, as well the idea of having a friendly PoS sidekick coin for NYAN. It will be a fork of Nushares, with three ways of generating coins: the first will be a token 100 Nyanshares for myself I'll hardcode in to bootstrap the chain from. The second will be a 1% annual staking inflation. The third will be "HODL" messages which is the, so far as I know, new idea here: it's like a cross-chain stake. A NYAN signature of a Nyanshares address is the message (along with the NYAN address and Nyanshares address), and from that, the "days destroyed" if the coins at that address were spent is computed and Nyanshares are awarded in some proportion (perhaps 1 Nyanshare for each 365 NYAN coindays, so 1 NYAN held for a year would generate 1 Nyanshare with a HODL message). Of course if the same address is claimed again, then only the days since the last claim are valid.
So this gives us a PoS network of NYAN hodlers. My initial concept for this was basically a strawpolling system. Voting NYAN on the Nyanchain will be demonstrated with the NYAN3 hard fork, and theoretically on-chain polling should be possible continuously on any manner of thing. But perhaps the Nyanshares, reflecting the core hodler sentiment, might also be a useful signal, like a Senate versus a House (in theory more conservative representatives of larger stakeholders versus more democratic representation of all stakeholders). That may seem totally unnecessary, as it does to me, but it could be a cool tool and fun to play with.
One major distinction is that I would not envision this as the value-gaining portion of the system. Nyanshares would be designed for mostly novelty purposes. Its votes would not be binding on NYAN. Instead, it would be intended as a supporting entity to NYAN. So if Nyanshares were popular enough to have demand on a secondary market, the Nyanshareholders could authorize additional Nyanshare creation, and use the proceeds to buy NYAN on the open market and hodl or use for encouraging nyan somehow. Selling Nyanshares would not be a core goal however, in part because of not designing it to gain, or even hold, any particular value. But as a PoS chain with 1-min block times, it should be a reliable counterpart in its own right and perhaps useful for purposes I don't see right now.
Now Nu also has Nubits, which are pegged at the USD. This peg has held very well. When there is additional demand for nubits, they are created and sold and the proceeds go to the Nushareholders.
Originally I thought of Nyanbits as the tie here and didn't really see any point to them, but we could have a tiny market in them and hold a peg at a dollar just for the heck of it as an experiment to show we can, following the Nu model on a much smaller scale.
But then in thinking about the DiploCoin thread again and the Nu / Ethereum hybrid I'd proposed there ultimately, I realized that such a cross would be a nice innovation to plug into this idea. So imagine that we have a subsidiary coin controlled by Nyanshares where the peg is held to NBT (USD) like it is with Nu, but where that subsidiary chain actually operates as an Ethereum clone. Call this: Nythereumbits.
This would be an improvement over Ethereum in the same way that Nubits is an improvement over Bitcoins: by holding a constant peg, people could actually plan for the expenses of using the network reasonably (of course, this would imply needing to also increase capacity to meet demand or otherwise expenses could still rise, but at least they would not rise merely from increased demand for the computing token). Access to the system could remain cheap while profits accrue, in this particular setup, first to the Nyanshareholders as proceeds for creation of new Nythereumbits, and then the Nyanshareholders could invest/gamble those proceeds into open market purchases of NYAN...possibly on a nyan-themed fork of the B&C Exchange which uses NYAN as the core base-pair and where proceeds are similarly reinvested back into the core NYAN asset? ;-D The Rainbow 37 concept is a separate one, but just decided to combo post this anyhow. I was smoking and had this idea, of course. I was thinking about analogies for my position in NYAN, as I often do, and I was thinking about Roulette and having a large bet on one of the numbers, like 37 or something. And I was thinking to myself, unable for the life of me to remember how the red/black coloring scheme went in roulette without looking it up, when I realized that the roulette wheel only goes up to 36...
So a bet of "37", regardless of color, on roulette, would be even more crazy than better "edge" on a "heads or tails" bet. At least the edge is conceptually possible. There is no 37 on a roulette wheel. There are zeros, and double zeroes in the US at least, but no 37s anywhere I believe.
0 is probably actually closer to our odds of reaching $1 than betting on 36 on a roulette wheel would be: The roulette wheel is 1:37 or 1:38, depending. Based on how far we have to go from our current market price to $1, it seems fair to say our odds right now are lower than 1% objectively speaking.
Of course, I believe we can affect the odds, and I hope and expect we'll somehow win ultimately, but I think the market risk premium is somewhat fair given how unlikely that looks from the outside.
Keep on keepin' on y'all. It will be truly legendary if we pull this off ultimately. :-)
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