Fg To Read My Website And Provide Feedback - Topic

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Sep 17 2015 12:27am

Just looking to get people who aren't really well versed (or are) in cryptocurrencies to read my overall concept and see if it makes sense to them. It shouldn't take more than ~10 minutes to read the entire thing and look at the diagrams. Keep in mind the site is still under construction so aesthetically it isn't the best but I'm more looking for feedback on the concept itself.

To prove you read it post some feedback or some questions about the concept. Be honest. Will give varying amounts of FG for input/questions ect (likely 5-25 fg but potentially more for more in depth feedback/higher quality feedback).

The main pages are:

Solracoin.org/about
Solracoin.org/economic-theory

and
Solracoin.org/philosophy

I have a more complicated white paper that I'm writing as well; but that isn't posted there.

saber_x3

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Sep 17 2015 01:13am

On paper with many variables seemingly not considered, profit starts at around 17th year or so?
Is this good?

Who will accept these coins?

This post was edited by saber_x3 on Sep 17 2015 01:21am

Blankey

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Sep 17 2015 01:36am

Quote (saber_x3 @ Sep 17 2015 03:13am)

On paper with many variables seemingly not considered, profit starts at around 17th year or so?
Is this good?

Who will accept these coins?

Like anything a network effect must be established before they have value; so that is certainly a real issue. Perhaps a good way to initially incorporate trade with them would be to set up a trading forum similar to JSP to use them on. But it will likely initially have value/utilization similar to that of a new altcoin and have to be expanded from there.

Why does bitcoin/dogecoin have value? Because it has an established network effect, and has characteristics that people desire in 'money' (transparency, units of account, 'value' (perceived), security, and resistance to corruption/manipulation, and lack of a central point of failure.

Consider this like a solar bond of sorts where 10% of the profits are redistributed to back the coin itself. The coin may have a higher floating value than the reserve that backs it.

Sent 7 fg for a solid probing question.

This post was edited by Blankey on Sep 17 2015 01:51am

Akstorm

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Sep 17 2015 01:36am

I read it and would like to make the following comments as I have no understanding of this topic at all:
General summary: From what I understand, investors buy solar array, sell off "stocks" of it to individuals, then as the solar array generates energy it is recorded and basically people get a return from their buy in for the array.

I think the terminology was a bit too much at first but once I caught onto your idea it was very clear. I think a glossary page would help.
In a sense you say Solracoin can be seen as a global currency but how does it translate to buying power? How can people exchange it for goods, why wouldn't people just "cash" out ASAP, as there is nothing "backing" the stability of the "Solracoin". How can Solracoin allow people to exchange different range of goods as easily as money does, or else like your example why isnt petroleum just used as curency?
In a sense with Solracoin people would not have to work for the money, just invest. What would prevent people from cheating the system. How do poorer people "buy" into this new currency as it cant be earned without an inital investment?

Overall I think you did a good job, I had no idea of what you meant when I first started and I understood pretty fast. Will post more comments if I have any.

Blankey

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Sep 17 2015 01:45am

Quote (Akstorm @ Sep 17 2015 03:36am)

General summary: From what I understand, investors buy solar array, sell off "stocks" of it to individuals, then as the solar array generates energy it is recorded and basically people get a return from their buy in for the array.
Yes, that is the concept; in addition to fiat returns - investors are also issued Solracoins backed by 10% of the aggregate average value of the energy sold.

why wouldn't people just "cash" out ASAP, as there is nothing "backing" the stability of the "Solracoin".

They very well might; just as people do when they generate and sell bitcoins. The hope is that the value will float higher than the reserve funds set as a minimum reserve value and thus their would be incentive to trade them instead of sell them back to me. For them to be traded their has to be an established network effect though. Also people don't use bitcoins because they are any easier to use, but because they stand for the principles that the protocol stands for (I realize this is a minor incentive; but its still there).

How can Solracoin allow people to exchange different range of goods as easily as money does, or else like your example why isn't petroleum just used as currency?
How easy would it be to lug around 55 gallons of petroleum (~ $50-100$ worth) then have to pour out half to pay for something worth ~$25? . In my white paper I list the desired qualities of money (Solracoin hits all of them as good or better than fiat, and as good or better than bitcoin - because of the energy backing it).

In a sense with Solracoin people would not have to work for the money, just invest. What would prevent people from cheating the system. How do poorer people "buy" into this new currency as it cant be earned without an initial investment?
The blockchain prevents people from cheating the system.
People would work for panels themselves which would be incorporated into the system (or money to buy the panels). Once acquired they take part in generating their own money.

Overall I think you did a good job, I had no idea of what you meant when I first started and I understood pretty fast. Will post more comments if I have any.
Thanks! It took a long time for me to try to cut it down to that much. It's complicated but i have to make it easy to understand if I stand a chance at using any sort of crowdfunding. Glad it made sense after a little bit. I really appreciate the questions!

As for a glossary page; I think that may be a good idea as well. In the actual white paper I have a list of important definitions.

What do you think would be useful in the glossary?
Sent 12.77 fg for the input/questions!! ty!

This post was edited by Blankey on Sep 17 2015 01:54am

Akitsu

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Sep 17 2015 12:08pm

my keys

overall view of website
If you have a home button on your navigation bar (which is clear to anyone viewing the site) why have an image linking back to the home page?
Imo, the image looks nice but I wouldn't have it linking back to the home page by clicking on it.

overall aesthetic of the website looks fairly nice though.
/overall view of website

starting to read now
about

Quote

so basically what you're saying in this diagram is people buy a solar energy plant with real money, collectively they will own it but not be able to do anything with it, the energy produced from it is going to be sold to cities for massive amounts of money, then the original investors are going to get minimal returns on the investment via a payment they will most likely not be able to use?
assuming this "solracoin" is going to be like bitcoin which I can't use to pay my cable bill with, I can't use it to purchase my groceries at H.E.B. I can't pay my strippers with bitcoins
but I can use good old fashioned paper notes or metal coin for any of those payments

economic theory

Quote

assuming that everyone buys into this solar grid (which won't happen...) then we are all now unemployed because we've all decided that we'd rather get paid by our investments instead of work (why not, right?)
so now we're all riding this train into poverty and have to get jobs again because eventually the value of these things will go down while value of produce and other production items go up (nobody's working, remember)
or:
assuming that only a few people buy into this there's the problem of what companies will support this "solracoin" probably not many places will, bitcoin has been out for a long time and not many places accept bitcoin
nice ouroboros reference lol

your ecosystem-economy-comparison.png is flawed.
for one; what kind of a wolf eats crickets?
2: people can't eat solracoins (or are they edible?)

I don't doubt that there's profit to be made for someone with this solar grid. there's always the possibility that 90 investors buy a grid for $100 total, then the grid produces $1,000 worth of energy per cycle and the investors receive $1 each as a return leaving massive profit for the man behind the mask as they say

philosophy

Quote

"Considering that the $USD (Federal Reserve notes)"
$ is USD
much like ¥ is Yen
you don't see ¥Yen
this should probably say "considering that the USD (Federal Reserve notes)"

I agree that there will always be more money owed than what exists if we use the current system.
I like to think that some day we will move above petty things such as money though.
I've always been a person that prefers to do things on a "I do this for you, you do that for me" basis. Which I think the world would be a much better place if more people would think this way

End Review

Quote

Overall I like your idea of this solar grid, but the whole "take one currency and turn it into another" idea is dumb.. really dumb. bitcoin already has a head start on virtual currency to begin with, these virtual currencies are based off of notes that are supposed to have gold value but no longer do.
quote from the US Treasury:
“Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. Redeemable notes into gold ended in 1933 and silver in 1968. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are “backed” by all the goods and services in the economy.”

This system of invest and live off the investment would not work, the world needs workers to produce food, create new inventions (otherwise how will we make it to the moon?), troubleshoot existing issues and issues that haven't come to view yet, etc

If the end goal of this was to simply drain the investors and give out minimal returns, why not just use USD for this purpose? or YEN or GBP or even BTC for that matter
I don't see the need to create an entirely new currency over this

Akstorm

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Sep 17 2015 12:17pm

cool ty, in class atm but I will give you a list of terms I think would be useful in the glossary tonight after i go over the pages again.

saber_x3

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Sep 17 2015 01:07pm

So maybe I missed it, but investors only get paid in the coins right?
Nothing from the profits generated from the grid?

Blankey

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Sep 17 2015 02:22pm

Quote (saber_x3 @ Sep 17 2015 03:07pm)

So maybe I missed it, but investors only get paid in the coins right?
Nothing from the profits generated from the grid?

10% of the gross profits are put into a reserve account and back the coins themselves

I was also thinking about distribution additional profit to those over a certain equity threshold in the form of some sort of dividend.

Quote (Akstorm @ Sep 17 2015 02:17pm)

cool ty, in class atm but I will give you a list of terms I think would be useful in the glossary tonight after i go over the pages again.

Ok, sounds great, lmk!

This post was edited by Blankey on Sep 17 2015 02:22pm

saber_x3

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#10

Sep 17 2015 04:39pm

Quote (Blankey @ Sep 17 2015 02:22pm)

But it's not expected to see any profits for many many years, and only 10 %?

Can you explain reserve account and backing of the coins?

Basically the owner of the grid profits while in exchange everyone else gets imaginary coins?

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