Must have a minimum of 1000 Sol ` You can only claim once an hourCan't vote on your own capsolYou can only submit once an hour` Contract instance has already be` You are a cheaterContract can't afford transactio` Invites cost 500 Sol
Must have a minimum of 1000 Sol ` You can only claim once an hourCan't vote on your own capsolYou can only submit once an hour` Contract instance has already be` You are a cheaterContract can't afford transactio` Invites cost 500 Sol
On abuse, pre-mining, and economics:
*Before reading this, please understand I am just a person who believes they are doing what God told them to do. I have removed any personal benefit to myself other than from using CAPSOL as it is intended. I am also not an economist. I mostly just think and code. I'm first and foremost, a Christian, and with that my goal is to do what I can to help foster love and growth in the hearts and minds of others. Economics are meant to be a secondary aspect of CAPSOL but I understand the world we live in so I feel it is necessary I touch on them first. Also, understand that CAPSOL is a new dApp and is growing. The contracts, though immutable, can be upgraded and I will upgrade them where I see fit towards benefiting the common good ONLY if completely necessary. Though this post is immutable, concepts, findings, and understanding are not. This capsol should serve as proof of my current thoughts and feelings about the economics of CAPSOL but also as a marker of the evolution of those thoughts as this experiment plays out. Also, apologies for typos, misspeak, or wordiness. It will take me some time to adjust my mind to the immutable nature of posts on CAPSOL. No taking anything back, only adding on to it :) *
I'd like to try and assuage any fears of pre-mine, foul play, or any other scoundrel-y behavior by conveying my predictions, theory, and of course thoughts. Bare in mind, I'm not an economist - as will become apparent shortly.
When it comes to SOL and "pre-mining" the goal is that anyone who contributes value to CAPSOL is receiving SOL. In general, the value they contribute will be somETHing like (ETH sent)/100 from a financial perspective. From a product perspective, the value contributed is transparency, subjectivity, and content worth consuming.
Any existing SOL will dilute the value a new user who contributes ETH gains, which is where the threat of pre-mine comes in. If a new user adds 1 ETH to the system but there are already, say, 1000 SOL in supply then they are effectively only retaining 1/11 of that value. Now, that sounds like the workings of a pyramid scheme - anyone who joined first and earned SOL wins in that situation. But in my opinion, a new user hopping in and contributing ETH is going to be less common of a scenario. In general, new users will be the ones to gain the most on a short term basis. The ones contributing will be those who truly believe in what is trying to be accomplished here.
That said, there are a few facets that help prevent abuse of this system and that effectively "invert" the pyramid. If a new user comes along and sends 0 ETH and is rewarded 100 SOL, that user has made gains based on the previous users who submitted ETH. If there was 10 ETH/1000 SOL then the new user got 100 SOL at the price of 0.010 ETH/SOL, effectively for free, they could cash out their SOL at a price of 10/1100 = 0.009 ETH/SOL (or a total of 0.9 ETH). So, in theory, if a new user comes along and contributes less than 0.9 ETH, they profit.
Before going further, I'd like to touch on the fact that this is an experiment in metaphysical economics - Schrodinger's Wallet, if you will. I'll write more on that later but if user A submits 1 capsol with 1 ETH and user B submits 1 capsol with 0.9 ETH, then there is now 1.9 ETH / 200 SOL which means that each user now has 0.95 ETH at their disposal. On a metaphysical plane, they both now have 1.9 ETH until one of them decides to withdraw it.
What prevents users from abusing the ablity to mint 100 SOL? What stops people from making an account, writing a shit CAPSOL, and cashing out immediately? Two main things: firstly, a user must have 1000 SOL to cash out. They gain 100 per capsol but also can only write 1 capsol per hour. So it should take any user 10 hours of use to be able to cash out. If 10 other users made a capsol every hour for 10 hours, that would be an increase of 10,000 SOL in that time period. The hope is that increase would have diluted the price to make the abuser's supply of 1000 less impactful.
There is an extra mechanic that is a recent addition to help mitigate even that already lessened possibility of abuse: invites. On a very simple scale, invites will help prevent spammers from being able to use CAPSOL and will help maintain the integrity of content. I will make a capsol with more info on the content and vision for use-cases of CAPSOL. Invites cost 500 SOL so will ideally raise the SOL price.
So how do I see this going? I predict that as users trickle in and use CAPSOL there will be an unspoken agreement not to cash out SOL unless necessary. This is meant to be more like "play" money that might make a nice surprise when you're in dire financial straits. The users may end up making somETHing like 3-4 capsols a day, resulting in +300-400 SOL per user. I'm predicting the first month may have somETHing like 10 users who use it sporadically. This means we might end up with somETHing like 90,000 SOL by the end of the first month. I'm not sure how much ETH will be added but I plan to contribute about $500. That's a lot so let's say others contribute $20 over the month. That makes for about $700 worth of ETH (or 4.11 ETH at today's price of $170). 4.11ETH/90,000SOL = 4.5e-5 ETH/SOL. I think equilibrium will begin to be reached as people find their "groove" of writing capsols.
I have not touched on it much, but SOL can be burned in four primary ways that I will explain later: voting, claiming, cashing out, and inviting.
The nature of contributing value to CAPSOL is saying "I believe in this idea and want to incentivize content". The nature of using CAPSOL is saying "I believe in this idea and want to create content". The hope, or theory, is that the first group of people will help fund the second group of people. The second group of people help the first by minting more SOL and making the ETH price go down but the actual content value go up which in turn will make more people want to use CAPSOL and thereby the perceived or actual value of SOL will go up.
Basically, I'm predicting an equilibrium between creators and consumers. Capitalistic ideals will take care of the drive to support CAPSOL and dire world events will carve out the need for CAPSOL. Finally, those world events will also open people's minds (as we can see they have been doing already) towards a more communistic view of finances to the point where they are okay with depreciating their own asset value to "pay it forward" and help fellow man understanding that the common good is the best good and that at some point other like-minded individuals will come by and also contribute to make it worth everyones' while. Just a bunch of people sharing. That's what this is.
The driving theory of CAPSOL is an inverted pyramid. The first serves the last. My money is your money, all you have to do is tell me what it's like to be you. Sharing subjectivity and tracking it over space and time is after the primary goal of CAPSOL.capsol
On abuse, pre-mining, and economics:
*Before reading this, please understand I am just a person who believes they are doing what God told them to do. I have removed any personal benefit to myself other than from using CAPSOL as it is intended. I am also not an economist. I mostly just think and code. I'm first and foremost, a Christian, and with that my goal is to do what I can to help foster love and growth in the hearts and minds of others. Economics are meant to be a secondary aspect of CAPSOL but I understand the world we live in so I feel it is necessary I touch on them first. Also, understand that CAPSOL is a new dApp and is growing. The contracts, though immutable, can be upgraded and I will upgrade them where I see fit towards benefiting the common good ONLY if completely necessary. Though this post is immutable, concepts, findings, and understanding are not. This capsol should serve as proof of my current thoughts and feelings about the economics of CAPSOL but also as a marker of the evolution of those thoughts as this experiment plays out. Also, apologies for typos, misspeak, or wordiness. It will take me some time to adjust my mind to the immutable nature of posts on CAPSOL. No taking anything back, only adding on to it :) *
I'd like to try and assuage any fears of pre-mine, foul play, or any other scoundrel-y behavior by conveying my predictions, theory, and of course thoughts. Bare in mind, I'm not an economist - as will become apparent shortly.
When it comes to SOL and "pre-mining" the goal is that anyone who contributes value to CAPSOL is receiving SOL. In general, the value they contribute will be somETHing like (ETH sent)/100 from a financial perspective. From a product perspective, the value contributed is transparency, subjectivity, and content worth consuming.
Any existing SOL will dilute the value a new user who contributes ETH gains, which is where the threat of pre-mine comes in. If a new user adds 1 ETH to the system but there are already, say, 1000 SOL in supply then they are effectively only retaining 1/11 of that value. Now, that sounds like the workings of a pyramid scheme - anyone who joined first and earned SOL wins in that situation. But in my opinion, a new user hopping in and contributing ETH is going to be less common of a scenario. In general, new users will be the ones to gain the most on a short term basis. The ones contributing will be those who truly believe in what is trying to be accomplished here.
That said, there are a few facets that help prevent abuse of this system and that effectively "invert" the pyramid. If a new user comes along and sends 0 ETH and is rewarded 100 SOL, that user has made gains based on the previous users who submitted ETH. If there was 10 ETH/1000 SOL then the new user got 100 SOL at the price of 0.010 ETH/SOL, effectively for free, they could cash out their SOL at a price of 10/1100 = 0.009 ETH/SOL (or a total of 0.9 ETH). So, in theory, if a new user comes along and contributes less than 0.9 ETH, they profit.
Before going further, I'd like to touch on the fact that this is an experiment in metaphysical economics - Schrodinger's Wallet, if you will. I'll write more on that later but if user A submits 1 capsol with 1 ETH and user B submits 1 capsol with 0.9 ETH, then there is now 1.9 ETH / 200 SOL which means that each user now has 0.95 ETH at their disposal. On a metaphysical plane, they both now have 1.9 ETH until one of them decides to withdraw it.
What prevents users from abusing the ablity to mint 100 SOL? What stops people from making an account, writing a shit CAPSOL, and cashing out immediately? Two main things: firstly, a user must have 1000 SOL to cash out. They gain 100 per capsol but also can only write 1 capsol per hour. So it should take any user 10 hours of use to be able to cash out. If 10 other users made a capsol every hour for 10 hours, that would be an increase of 10,000 SOL in that time period. The hope is that increase would have diluted the price to make the abuser's supply of 1000 less impactful.
There is an extra mechanic that is a recent addition to help mitigate even that already lessened possibility of abuse: invites. On a very simple scale, invites will help prevent spammers from being able to use CAPSOL and will help maintain the integrity of content. I will make a capsol with more info on the content and vision for use-cases of CAPSOL. Invites cost 500 SOL so will ideally raise the SOL price.
So how do I see this going? I predict that as users trickle in and use CAPSOL there will be an unspoken agreement not to cash out SOL unless necessary. This is meant to be more like "play" money that might make a nice surprise when you're in dire financial straits. The users may end up making somETHing like 3-4 capsols a day, resulting in +300-400 SOL per user. I'm predicting the first month may have somETHing like 10 users who use it sporadically. This means we might end up with somETHing like 90,000 SOL by the end of the first month. I'm not sure how much ETH will be added but I plan to contribute about $500. That's a lot so let's say others contribute $20 over the month. That makes for about $700 worth of ETH (or 4.11 ETH at today's price of $170). 4.11ETH/90,000SOL = 4.5e-5 ETH/SOL. I think equilibrium will begin to be reached as people find their "groove" of writing capsols.
I have not touched on it much, but SOL can be burned in four primary ways that I will explain later: voting, claiming, cashing out, and inviting.
The nature of contributing value to CAPSOL is saying "I believe in this idea and want to incentivize content". The nature of using CAPSOL is saying "I believe in this idea and want to create content". The hope, or theory, is that the first group of people will help fund the second group of people. The second group of people help the first by minting more SOL and making the ETH price go down but the actual content value go up which in turn will make more people want to use CAPSOL and thereby the perceived or actual value of SOL will go up.
Basically, I'm predicting an equilibrium between creators and consumers. Capitalistic ideals will take care of the drive to support CAPSOL and dire world events will carve out the need for CAPSOL. Finally, those world events will also open people's minds (as we can see they have been doing already) towards a more communistic view of finances to the point where they are okay with depreciating their own asset value to "pay it forward" and help fellow man understanding that the common good is the best good and that at some point other like-minded individuals will come by and also contribute to make it worth everyones' while. Just a bunch of people sharing. That's what this is.
The driving theory of CAPSOL is an inverted pyramid. The first serves the last. My money is your money, all you have to do is tell me what it's like to be you. Sharing subjectivity and tracking it over space and time is after the primary goal of CAPSOL.capsol
On abuse, pre-mining, and economics:
*Before reading this, please understand I am just a person who believes they are doing what God told them to do. I have removed any personal benefit to myself other than from using CAPSOL as it is intended. I am also not an economist. I mostly just think and code. I'm first and foremost, a Christian, and with that my goal is to do what I can to help foster love and growth in the hearts and minds of others. Economics are meant to be a secondary aspect of CAPSOL but I understand the world we live in so I feel it is necessary I touch on them first. Also, understand that CAPSOL is a new dApp and is growing. The contracts, though immutable, can be upgraded and I will upgrade them where I see fit towards benefiting the common good ONLY if completely necessary. Though this post is immutable, concepts, findings, and understanding are not. This capsol should serve as proof of my current thoughts and feelings about the economics of CAPSOL but also as a marker of the evolution of those thoughts as this experiment plays out. Also, apologies for typos, misspeak, or wordiness. It will take me some time to adjust my mind to the immutable nature of posts on CAPSOL. No taking anything back, only adding on to it :) *
I'd like to try and assuage any fears of pre-mine, foul play, or any other scoundrel-y behavior by conveying my predictions, theory, and of course thoughts. Bare in mind, I'm not an economist - as will become apparent shortly.
When it comes to SOL and "pre-mining" the goal is that anyone who contributes value to CAPSOL is receiving SOL. In general, the value they contribute will be somETHing like (ETH sent)/100 from a financial perspective. From a product perspective, the value contributed is transparency, subjectivity, and content worth consuming.
Any existing SOL will dilute the value a new user who contributes ETH gains, which is where the threat of pre-mine comes in. If a new user adds 1 ETH to the system but there are already, say, 1000 SOL in supply then they are effectively only retaining 1/11 of that value. Now, that sounds like the workings of a pyramid scheme - anyone who joined first and earned SOL wins in that situation. But in my opinion, a new user hopping in and contributing ETH is going to be less common of a scenario. In general, new users will be the ones to gain the most on a short term basis. The ones contributing will be those who truly believe in what is trying to be accomplished here.
That said, there are a few facets that help prevent abuse of this system and that effectively "invert" the pyramid. If a new user comes along and sends 0 ETH and is rewarded 100 SOL, that user has made gains based on the previous users who submitted ETH. If there was 10 ETH/1000 SOL then the new user got 100 SOL at the price of 0.010 ETH/SOL, effectively for free, they could cash out their SOL at a price of 10/1100 = 0.009 ETH/SOL (or a total of 0.9 ETH). So, in theory, if a new user comes along and contributes less than 0.9 ETH, they profit.
Before going further, I'd like to touch on the fact that this is an experiment in metaphysical economics - Schrodinger's Wallet, if you will. I'll write more on that later but if user A submits 1 capsol with 1 ETH and user B submits 1 capsol with 0.9 ETH, then there is now 1.9 ETH / 200 SOL which means that each user now has 0.95 ETH at their disposal. On a metaphysical plane, they both now have 1.9 ETH until one of them decides to withdraw it.
What prevents users from abusing the ablity to mint 100 SOL? What stops people from making an account, writing a shit CAPSOL, and cashing out immediately? Two main things: firstly, a user must have 1000 SOL to cash out. They gain 100 per capsol but also can only write 1 capsol per hour. So it should take any user 10 hours of use to be able to cash out. If 10 other users made a capsol every hour for 10 hours, that would be an increase of 10,000 SOL in that time period. The hope is that increase would have diluted the price to make the abuser's supply of 1000 less impactful.
There is an extra mechanic that is a recent addition to help mitigate even that already lessened possibility of abuse: invites. On a very simple scale, invites will help prevent spammers from being able to use CAPSOL and will help maintain the integrity of content. I will make a capsol with more info on the content and vision for use-cases of CAPSOL. Invites cost 500 SOL so will ideally raise the SOL price.
So how do I see this going? I predict that as users trickle in and use CAPSOL there will be an unspoken agreement not to cash out SOL unless necessary. This is meant to be more like "play" money that might make a nice surprise when you're in dire financial straits. The users may end up making somETHing like 3-4 capsols a day, resulting in +300-400 SOL per user. I'm predicting the first month may have somETHing like 10 users who use it sporadically. This means we might end up with somETHing like 90,000 SOL by the end of the first month. I'm not sure how much ETH will be added but I plan to contribute about $500. That's a lot so let's say others contribute $20 over the month. That makes for about $700 worth of ETH (or 4.11 ETH at today's price of $170). 4.11ETH/90,000SOL = 4.5e-5 ETH/SOL. I think equilibrium will begin to be reached as people find their "groove" of writing capsols.
I have not touched on it much, but SOL can be burned in four primary ways that I will explain later: voting, claiming, cashing out, and inviting.
The nature of contributing value to CAPSOL is saying "I believe in this idea and want to incentivize content". The nature of using CAPSOL is saying "I believe in this idea and want to create content". The hope, or theory, is that the first group of people will help fund the second group of people. The second group of people help the first by minting more SOL and making the ETH price go down but the actual content value go up which in turn will make more people want to use CAPSOL and thereby the perceived or actual value of SOL will go up.
Basically, I'm predicting an equilibrium between creators and consumers. Capitalistic ideals will take care of the drive to support CAPSOL and dire world events will carve out the need for CAPSOL. Finally, those world events will also open people's minds (as we can see they have been doing already) towards a more communistic view of finances to the point where they are okay with depreciating their own asset value to "pay it forward" and help fellow man understanding that the common good is the best good and that at some point other like-minded individuals will come by and also contribute to make it worth everyones' while. Just a bunch of people sharing. That's what this is.
The driving theory of CAPSOL is an inverted pyramid. The first serves the last. My money is your money, all you have to do is tell me what it's like to be you. Sharing subjectivity and tracking it over space and time is after the primary goal of CAPSOL.capsol
Today I did biphasic sleeping basically. I think I like it better but it's so hard to get in the groove of it that I never actually commit to it. Seems to be a recurring theme of my life.
I had a relatively unproductive day with work though I tried. Was just hitting walls and roadblocks and arcane, yet simple, problems at every turn. Oh well. Today will be better.
I meditated today and feel I had a very spiritually meaningful day. God talked to me a lot in the shower but as always, I lost access to the conscious retrieval of it. In general, I was hearing about dimensionality and perception and how it influences our understanding of reality.
I will also start encrypting some of my more private CAPSOLs :c)
Also, I realize we've now been under LOCKDOWN for about a month. Interesting how fast time is flying. If you're reading this from the future, hi and I hope things turned out better than God has been implying they will be. gabriel.o.david
Hello world! This is the first CAPSOL on mainnet!
I'm very excited to be here, sharing, and making history. All funds on here are LIVE, MAINNET ETHER. So please be careful. But that also means you stand to gain!
However, the point of this app is not economics - that's just a fun side-quest. The real point here is transparency. Share your day, your world, your self.
I will personally use CAPSOL as an immutable journal. Almost like an autobiography. The hope is that my descendants will be able to, in say 50 to 100 years, see what I said about my life and day and share their life and day. This is an explicit attempt to give humanity a link to the past to foster continuity and evolution. This is a compendium of subjectivity; please treat it as such.
I will post more information about the mechanics of CAPSOL on this realm. There's a lot of theory behind it but really what is theory without application. So have a dApp.
As an easter egg, this CAPSOL contains some Ether which is funding the price of SOL (our ERC-20 token). To claim it, you need 1000 SOL and to know the password.
Here is a hint to the password: In half I am not whole. Counted twice, I'm not as nice. There are two of me side by side.capsol
Hello world! This is the first CAPSOL on mainnet!
I'm very excited to be here, sharing, and making history. All funds on here are LIVE, MAINNET ETHER. So please be careful. But that also means you stand to gain!
However, the point of this app is not economics - that's just a fun side-quest. The real point here is transparency. Share your day, your world, your self.
I will personally use CAPSOL as an immutable journal. Almost like an autobiography. The hope is that my descendants will be able to, in say 50 to 100 years, see what I said about my life and day and share their life and day. This is an explicit attempt to give humanity a link to the past to foster continuity and evolution. This is a compendium of subjectivity; please treat it as such.
I will post more information about the mechanics of CAPSOL on this realm. There's a lot of theory behind it but really what is theory without application. So have a dApp.
As an easter egg, this CAPSOL contains some Ether which is funding the price of SOL (our ERC-20 token). To claim it from this CAPSOL, you need 1000 SOL and to know the password.
Here is a hint to the password: In half I am not whole. Counted twice, I'm not as nice. There are two of me side by side.capsol
Must have a minimum of 1000 Sol ` You must be invited or have 500 ` You can only claim once an hourCan't vote on your own capsolYou can only submit once an hour` Contract instance has already be` You are a cheaterContract can't afford transactio` I'm the real system capsol!Invites cost 500 Sol