Topic - GROUP tokenization proposal by Andrew Stone

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588d
588d
GROUP and tokeda achieve different things. they are not exactly comparable, also not incompatible. we might get either, both, or neither.
587d
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)
587d
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.
587d
You lost me at "trust-but-verify".
587d
Just for those who have not read this as it was published a while ago.https://medium.com/@jonaldfyookball/op-group-potentially-dangerous-3720464a2ddc
587d
And again at "To do so, the bank freezes 1 billion USD and external audit companies monitor..."
587d
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
587d
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
587d
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?
587d
If you are against Tokeda then you're basically saying that memo.cash is impossible and can't work. But here it is... working!
587d
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
587d
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
587d
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
587d
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
587d
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 :)
587d
Tokeda is perfect. I can see it lasting 1000 years. It is perfectly sustainable and dynamic at every level. Market driven. Massively scalable.
587d
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
583d
Why not store the information in the UTXO?
582d
Seriously, no bites? I guess all are in their
582d
corners.
582d
AFAIK, UTXO consumes miner's RAM, which is a scarce resource.
582d
The method does not require any additional data in the UTXO set, and requires no additional work for miners.
578d
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.
573d
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_
571d