i dont doubt that, and its great that theres people out there to ask tough questions. ive never been one to shrink from that. my issue is that it quickly denigrated into an attack on my character rather than an assessment on the project on its merits or faults. i like to think of myself as pretty even-handed as well, and i appreciate oppositional points of view because they challenge me to present my work in a different way, to defend what ive built. and yes, im very proud of the protocols we've developed and how we've adapted what is generally a strictly capitalist economic endeavour, no matter what the cryptocurrency maximalists state, the vast majority of cryptocurrency development is purely profit driven.bentech wrote:bob is one of the most even handed members here PUFFSdev,
im curious how coins value are initially set and how is that effected if only coin owners making transactions are working the blockchain?
what kind of transaction time would you be facing at that point?
ive always been a universalist, i suppose you could call it. i have a strong sense of honour and integrity, not only from my being raised in a household with masonic tradition, but through my time in the military, through my work with nova scotia ground search and rescue.. i believe in the ideal that by raising the least among us we build society as a whole. im a socialist in that i believe in intrinsic equality. and while there are constant scams, not only in the crypto world but seemingly in every aspect of our lives nowadays, to be labeled as such with no evidentiary process, simply.. its crypto and you aren't giving your time and work away for free so you are a scammer. if there were fundamental flaws in our protocols, if we were attempting to be anonymous developers or presenting the project as a cant miss investment of 2018, then we'd be deserving of emnity, but spurious personal attacks rather than the "debate" he was eager for isnt necessary, deserved or appropriate.
that being said, to answer your questions about the project... we came about our final price point unit valuation for our Genesis Sale of (at present exchange rates) about USD$0.12 by averaging the transaction volume the sorts of applications we are building have experienced on other networks where analgous smart contract suites are deployed, essentially watching how they were received on the Ethereum blockchain. we calculated the average transaction cost in "gas" on the PUFFScoin network, compared to differing token valuations, and felt that price would be effective in presenting enough transaction funding in a 30 day period to cover the prescriptive needs of 25 vets. if we produce utility and well recieved applications, encouraging user participation in as many ways as we can, the value of PUFFScoin may increase, which would make our primary funding mechanism with the Veterans Endowment more effective, able to reach more vets and first responders.
we have other methods in place that will help increase the currency valuation, we will be accepting other cryptocannabis assets at the Leafy Cauldron, which will be exchanged at Point of Sale for PUFFS and the retail transaction will be processed on the PUFFScoin blockchain. those cryptocannabis assets will be exchanged at market, and the funds used to purchase against the PUFFScoin sell well on markets where our asset is traded, to replenish the Cauldron wallet.
regardless of how we approach the project, the driving engine of most cryptocurrency is its simple transferablilty through trade, and the markets will do what the markets do. most times, market valuation and project development are quite distant from eachother in why a coin goes up or down and the crypto markets are NOTORIOUSLY fickle. id LOVE to see PUFFScoin reach parity with the canadian dollar. BUT realistically, its better for PUFFS to have a lower price point because that keeps computation costs for smart contract operation lower. part of the appeal of the "global virtual computer", to me personally, are projects such as CureCoin, where users commit their computer resources to helping solve protein folding simulations. ive actually worked on porting the BOINC distributed computation process to the EVM, and have some of the smart contract architecture organized, but that remains a work in progress. id put wrk into that a few years ago when seeing a way to use SOILcoin to help do computational processing for climateprediction.net. these same processes can be used to assist in cannabinod research, and we will likely offer up something along those lines next year. (if i figure out how to burn the candle on six ends and learn to fold time a bit so that i can manage 36 hour work days)
transaction times are based on average block time. with bitcoin, because of its popularity and because of its 10-minute block time and lmited block size (the number of transactions recorded in a block), there can be very long delays. PUFFS has an average block-time target of 12 seconds. realistically, because of the protocol's responsive difficulty algorithms, the average block time is about 15 seconds. full confirmation of a transaction is recommended to five blocks. thus, your transaction will generally take less than 30 seconds to process, but responsible use dictates you should wait a few minutes to ensure the transaction is deeply rooted in the blockchain ledger. after that, its irreverible.
Lrus007
