RE: How should one distribute a $1 trillion dollar treasure?

You are viewing a single comment's thread from:

RE: How should one distribute a $1 trillion dollar treasure?

alexpmorris (65)in #eos • 8 years ago

exactly correct @linouxis9, and the economy would probably collapse as well, especially if large reserves of gold are still held by banks as reserves or other critically established "too big too fail" entities.

8 years ago in #eos by alexpmorris (65)

Sort:

officialfuzzy (75) 8 years ago

what if a new use case for gold drives demand for more of it? what if gold is found to have unique properties that enable massive amounts of data to be spread between holders based on the amount of gold that individual/group/organization/institution has?

and what if the demand for this data was set to increase by orders of magnitude over the years?

$0.00

1 vote

[-]

stargarden (56) 8 years ago

@officialfuzzy @alexpmorris This is literally why i have a head ache and I have been catching up on steemit for weeeeeeeeeeeeks this is what i think about ... owie bedtime soon

$12.23

2 votes

[-]

alexpmorris (65) 8 years ago (edited)

BTW, getting back on track with EOS, and regarding this point:

The expert informs him that the smart contract platform is not capable of implementing this algorithm because the cost of “gas” would be unpredictable and there is no easy, cost effective, way to maintain a sorted order book.

It would be nice to be able to set a limit price with each bid, and it does seem possible to add a sort() function in solidity, as I described in a comment on @biophil's post.

Link: The first 5 days of the EOS token sale will be unfair. Here's how to fix it.

This example by Vitalik Buterin is from 2014, but he does show an implementation of a generic quicksort algorithm that can sort object pairs. Now, I'm not sure of the "gas constraints" involved, but with a sorted object pair it should be relatively straightforward to sort by "limit price", "database ID".

For added utility, we will make our sorting function generic: we will sort pairs instead of integers. Thus, for examples, [30, 1, 90, 2, 70, 3, 50, 4] would become [ 30, 1, 50, 4, 70, 3, 90, 2 ]. Using this function, one can sort a list containing any kind of object simply by making an array of pairs where the first number is the key to sort by and the second number is a pointer to the object in parent memory or storage.

Link: Advanced Contract Programming Example: SchellingCoin
Link: GitHub SchellingCoin implementation from Ethereum Repo

I admit I'm not well-versed in EC20 contracts or serpent/solidity, but technically, shouldn't we also be able to see all the current bidders and make an outside calculation of what the expected price would be before the window closes? If so, even better if someone could "cancel their order" before the window closes if they are displeased with the expected closing price.

$2.79

1 vote

[-]

alexpmorris (65) 8 years ago

but now you're changing the scope of the question. so, perhaps here's a better way to answer...

I just discovered a super-computer on an asteroid with the capability of performing 1 TRILLION Gigahashes/second. How might that effect the current crypto ecosystem? Should I dump the processing power on "the market" all at once, or should I try slowly trickling it out at a rate that the current market can adjust to and absorb in a more controlled and balanced fashion?

Of course, the even bigger issue with that much "power" might be... 51% ain't even an issue no more!

$1.75

1 vote

[-]

officialfuzzy (75) 8 years ago

I disagree. This gold analogy hits at the underlying situation pretty well. Though if you look in here you will see that i am certainly making some analogies in this direction. Because the properties of gold are different than those of data transmission although both are highly valuable.

This is why i use the analogy that gold has a special property we didnt know about until now and that holding gold enables you to transfer data between yourself and others.

$0.00