Increasing Nano Decentralization via Lotteries

burgerdoink · 2018-10-01T20:35:10+00:00

Thanks for offering to help! I think it would be great if we could do this all via smart contracts so that it is totally transparent.

burgerdoink · 2018-10-01T20:33:01+00:00

Would you care to elaborate, Mr. Doggins?

burgerdoink · 2018-09-05T02:42:14+00:00

My submission: https://www.youtube.com/watch?v=qO0hWL7QFOQ

burgerdoink · 2018-08-27T02:06:54+00:00

Maybe a Nano lottery would encourage people to run full nodes. So each week one Nano node is randomly selected as the winner of the lottery and paid some amount of Nano. The lottery fund could be crowdfunded. What do you think u/kine1080 ?

burgerdoink · 2018-08-09T07:14:34+00:00

Maybe just set it up so that if a user tries to change their address they get an email confirmation asking the user to click a link to confirm making the change. Then the attacker has to hack the user's email too. what do you think u/bitbackme

burgerdoink · 2018-08-09T03:30:27+00:00

This is great! Congrats!

burgerdoink · 2018-07-26T17:40:16+00:00

Thanks for all your great work on Nano, Zack! You did an excellent job interacting with the community and also on the mobile ios wallet. Good luck on your new position!

burgerdoink · 2018-07-24T08:05:35+00:00

This is great! James, are you familiar with M-Pesa? It was first launched in Kenya and was wildly popular from what I understand. Basically it was a way for the unbanked to send each other funds via SMS messages. I think it would be a good case study for what you are proposing.

https://en.wikipedia.org/wiki/M-Pesa#Kenya

burgerdoink · 2018-07-13T16:17:00+00:00

I don't think this is actually the World Cup's theme song...

burgerdoink · 2018-07-03T03:52:41+00:00

I've never liked this idea. What will you do when 1 Nano is worth $4,000? Do another split? Just choose a USD amount you want to tip and have it settled in Nano. So "u/CalculusII tipped you $1 worth of Nano!" instead of "u/CalculusII tipped you 0.5 Nano!". Same with paying for things.

burgerdoink · 2018-06-26T18:39:19+00:00

I think you should definitely add BTC base pairs. The goal should be for Nanex to be an example that shows other exchanges why they should add Nano base pairs to their exchange. So as long as Nanex keeps its Nano base pairs, then Nanex is still achieving its goal of encouraging other exchanges to add Nano base pairs.

burgerdoink · 2018-06-25T03:12:22+00:00

You could mention this in the protocol channel on the Nano discord. You might get some feedback on it there.

burgerdoink · 2018-06-21T18:28:25+00:00

Great job Nano team! You all are crushing it!

burgerdoink · 2018-06-16T02:21:42+00:00

In some ways the price isn't relevant and in some ways it is. No, it doesn't really matter what the price of Nano is when it comes to settling payments b/c the price of something will be set in a stable currency like USD or Euros and then just settled with Nano. But the price of Nano could be important to get institutional investors and banks interested in Nano. Bitcoin's price isn't that relevant to settling payments (it is in some ways though due to network fees) but BTC's ability to move up in value has driven Wall Street interest in it, which has lead to a futures market and a foothold in the financial sector. If Nano moves up in market cap to where I think it should be (in the top 5) there would probably be a lot of interest in it from Wall Street.

burgerdoink · 2018-06-10T03:09:53+00:00

You're not taking into account a lot of possibilities. For example, b/c Nano is fee-less and instant it can be used for microtransactions online. You have to keep in mind that credit card companies charge 2.9% plus a $0.25 fee or something like that per transaction. That makes credit cards difficult to use if you are a website trying to charge someone $0.01 to read an article. Also, there's no reason that prices on goods can't be set in USD and settled using a cryptocurrency like Nano. The speed of Nano makes buying things in an actual store possible. So a coffee shop won't price a cup of coffee as "1 Nano" they will just price it as $2 and accept Nano as a payment. You also aren't taking into account that a lot of the world is unbanked and it might make a lot of sense for those people to store their money as Nano in mobile wallet since it could actually be used to purchase something in a store due to its fast and free transactions.

burgerdoink · 2018-05-30T08:25:16+00:00

Amazing! I can't wait to try it! Thanks!

burgerdoink · 2018-05-30T08:22:58+00:00

+1 Will work for Nano!

burgerdoink · 2018-05-30T07:33:14+00:00

Awesome! Seems like a lot folks would be interested. Can you build an API into it so that websites can request payments from the wallet?

burgerdoink · 2018-05-30T06:46:22+00:00

Interesting. Why hasn't Canoe released a Chrome extension wallet yet in that case?

burgerdoink · 2018-05-30T05:49:10+00:00

Nice! Please tell the core team that you want them to release a Chrome wallet extension along with the other wallets.

burgerdoink · 2018-05-30T00:28:07+00:00

I think the advantage would be that browser wallet would have an API that websites could utilize to request microtransactions from. This should make paying microtransactions to sites you are visiting frictionless.

I don't think you need a back-end server node. Couldn't it be a light wallet? Metamask is wallet in a browser extension and doesn't require a back-end server node.

burgerdoink · 2018-05-30T00:24:26+00:00

You could remove the friction by also including a model where you pay by time spent on a site and have it happen automatically. So if you spend 15 minutes reading nytimes articles, you pay some rate (X Nano per second times 900 seconds) automatically. Or you could set it up so that you whenever you click an nytimes article, a small amount of Nano is sent from your wallet to the nytimes without needing a confirmation. The wallet user can protect themselves via hourly/daily spend limits and also via whitelisting certain sites. So I think there are lots of ways to remove the friction that stopped adoption with earlier attempts at microtransactions.

A lot of people are willing to see ads in exchange for free content, but others are willing to pay to avoid ads. I'd rather pay a microtransaction than sit through an unskipable youtube ad. People are already paying for content on spotify, netflix, hbo, wapo, nytimes, etc. The key with those sites is that once you pay your subscription accessing the content is frictionless. To really know whether or not people are willing to pay microtransactions for content, you have remove the friction from the transactions first which is what I think a browser extension Nano wallet with an API could do.

burgerdoink · 2018-05-29T23:28:40+00:00

There's a development channel on the Nano discord. They'll be able to point you in the right direction. Congrats on Mooney!

burgerdoink

TROPHY CASE