The concept of bitcoin and Cryptocurrency

Governance
1

The problem with conventional currencies is trust to make it work. The central bank must be trusted not to debase their currency, the history of fiat currencies is full of breaches of that trust and now the breaches can go world wide.

While this may be misinformation in the opinion of some I feel that this statement strikes a chord with me and my reason for being involved with cryptocurrencies.

We may have different opinions or you are just totally dismissing this view. If you find that you have a similar point of view then you should read on.

While IC is classified as a cycle coin and has created its own form of internet that overcomes many of the current old web internet issues that also maybe at the end of its life cycle, ICP I feel does not go far enough and we see this with this concept that anyone can create proposals on the NNS and their intentions can be less than more and we have to trust that neurons owners on the nns will reject the wrong and accept the right proposals.

Currently I see the same issues being raised on the https://forum.dfinity.org/ with spam and neuron owners wanting more rewards based on activity by taking these away from other neuron owners which outlines the same trust issues for me with fiat currencies.

I have no further opinions to make on those matters but wish to outline my proposal and those who would like to join me in this mission to form a group to put up proposals to protect and make responsible those who have less popular desires based on needing a plus than 50% approval.

Firstly, we have a major problem with security in regards to usernames and passwords. My feeling is that this is an old problematic idea that should be made redundant.

We have the opportunity to correct this with IC as a private network that knows the person that is on the IC and has the option to never have to login to any website again. While the IC can have anyone build a project on the ICP they could still be able to use the old web concept or use the ICP to be known already while using the IC web.

Also I as an internet user are sick and tired of using the old web and the concept that we as users of the internet are privileged to view websites and should for that privilege provide all our personal details for their discretion as they please, to be able to view their site, this gets my back up button, real quick.

This is as far as I go with my statements at this time as I want to know first am I wasting my time or are there others that would like to be involved to give their voice and ideas for the nns.

Please contact me if you are interested.

2 Likes
2

Neuron dissolve delay
Another idea that I see popping up again and again is the issue with neuron dissolve delay, locked neurons and the rewards.

From my understanding some want maximum rewards, little to no dissolve period to entice more neuron owners and current neuron owners to invest more. I assume that the premise is that more demand the better the price but I don’t see how this increases rewards when it is mostly only the Following neuron holders that create most of the proposal updates on the NNS anyway.

I would suggest that the quantity of invested neurons is also important.

If you have invested into IC coins then you, I would assume, found ic a viable project and at some point the value will increase and therefore an Inactive investor.

**Earn rewards by staking your ICP in neurons. Neurons allow you to participate in governance on the Internet Computer by voting on Network Nervous System (NNS) proposals. **

If you have transfer your ic coins to the NNS as a neuron then you are a Active Neuron and Following and the formula below applies to the promise made when becoming a neuron owner:

Calculation
(ICP staked + maturity staked) x Dissolve Delay Bonus x Age Bonus
(310.0008 + 0) x 2.00 x 1.03

By transferring your icp coins to the NNS and then staking you are in fact a Active neuron.

Where I feel we can make incentives is the amount of icp within a neuron which would be a benefit to consolidate your coins into a single neuron with a shorter dissolve delay scale base on quantity but that is a solution that can also be looked at as part of this group if you would like to get involve.

In my opinion, lower our calculation minimum requirements, invites those who see opportunities for themselves and not any interest in this project. Lowing the dissolve period for more stake coins seems more viable.

2 Likes
3

It’s interesting to discuss neuron dissolve delay and rewards. Some suggest shorter dissolve periods to attract more investors.

If you’ve invested in IC coins and transferred them to the NNS as a neuron, you’re an active participant in governance.

One idea is to incentivize the amount of ICP within a neuron, possibly by adjusting dissolve delay based on quantity. Lowering calculation minimum requirements could also attract more stakeholders.

Overall, adjusting dissolve periods for higher stake coins could encourage more participation and engagement.

4

Gather here let’s talk cryptocurrency