Topic - GROUP tokenization proposal by Andrew Stone

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  435d
  435d
GROUP and tokeda achieve different things. they are not exactly comparable, also not incompatible. we might get either, both, or neither.
  435d
Tokeda does everything that OP_GROUP can do and much much more. OP_GROUP adds nothing good. But does add a lot of bad (affects scaling massively)
  435d
it's good u have a pony in the race, but best to keep facts straight. it's not OP_GROUP anymore, it's GROUP. and no, TOKEDA does not do the same as GROUP at all.
  435d
You lost me at "trust-but-verify".
  435d
Just for those who have not read this as it was published a while ago.https://medium.com/@jonaldfyookball/op-group-potentially-dangerous-3720464a2ddc
  435d
And again at "To do so, the bank freezes 1 billion USD and external audit companies monitor..."
  435d
79b79aa8 I can call it "GROUP" that's fine. But you're wrong. GROUP adds NOTHING. amazon just whitelist approved ids... you can transfer all you like..no value
  435d
Just please please do not push for GROUP to be included in a hasty hardfork to cure the bear market. Give it time. This idea is very new. I am strongly against
  435d
Simon Van Gelder. So a national currency on GROUP would not need to have any proof that they hold the asset as promised??? What is your argument?
  435d
If you are against Tokeda then you're basically saying that memo.cash is impossible and can't work. But here it is... working!
  435d
If one day, miners do not want to store all of the metadata of memo.cash, we will all just have to cough up a little extra 1sat/byte or whatever to pay archival
  435d
miners to perform this (sweeten the deal). Currently bitcoin cash is in infancy so miners are ALL archival. This will not be forever. GROUP wants to force them
  435d
all to store every last piece of crap ever broadcast onto the blockchain... this is crazy. OP_RETURN metadata has always been prunable from the UTXO for a reason
  435d
You can have shit-tokens that are maintained in the UTX if you're willing to pay... but long term at scale you will need to be profitable and of value to keep
  435d
this going... this is normal. Healthy. Economically sensible. If your token fails and goes to zero... the archival miners can stop persisting this in the UTX :)
  435d
Tokeda is perfect. I can see it lasting 1000 years. It is perfectly sustainable and dynamic at every level. Market driven. Massively scalable.
  435d
Maybe there can be "Grand archival master node repositories" where every piece of metadata crap is stored forever and you pay to query it for research purposed
  431d
Why not store the information in the UTXO?
  430d
Seriously, no bites? I guess all are in their
  430d
corners.
  430d
AFAIK, UTXO consumes miner's RAM, which is a scarce resource.
  430d
The method does not require any additional data in the UTXO set, and requires no additional work for miners.
  426d
It looks like this proposal will be delayed (if ever implemented). Luckily enough we have this proposal instead: https://bch.gg/9h which I'm very exited about.
  421d
I reminded this topic today, trying to sell a shitcoin on ETH: "Intrinsic gas too low". $0.50 in fees to the trash and several tries. BCH tokens FTW.
hv_
  419d