Radical Additions and Amendments to the Radical LikeCoin Proposal

Quoting the Chief Executive's grammar, it's great to see a warm response to my "so-called" Radical LikeCoin Proposal via @Forbole, whether it's a sincere LikeCoin supporter or a serious hater, which represents the sympathy of the LikeCoin community Activity, congratulations! I have some additions to my proposal, but I don’t want to be shackled by the company, so I should publish it by myself, and I can make unbridled remarks. Since it is a radical proposal, it should also implement my radical speech style.

I'm a mercenary animal and that's part of the game design

I want to say something honest first. Although Forbole is only a small start-up, it has a small success in the field of validators. Our monthly USD revenue as a validator on LikeCoin, I roughly estimate, is less than 1% of our total validator revenue; the market value of our delegated cryptocurrencies on other blockchains is over $40 million, which is the value of our Over 200 times the market value of the LIKE entrusted.

As a validator, I am an animal who purely looks at interests. There is no moral high ground and justice. Every suggestion is to maximize my own interests. Because of this, I've spoken less about LikeCoin in the past because the profit wasn't enough to drive my animal beasts. The essence of the design of the decentralized network is that when each stakeholder maximizes his own profit, there will be a mutual check and balance, so as to achieve the best decision for the whole. To quote Ethan Buchman, one of the founders of Cosmos, blockchain technology is "build a reliable network out of unreliable parts." ("build a reliable network out of unreliable parts.") ...)

Triggers for radical proposals

Earlier, I listened to the development reported by the LikeCoin team. I saw some very good tractions, and I also felt the level of engagement of LikeCoin users through Matters. This is not the tractions of other international projects that I see now. - Too many of them are just speculative inputs, what I see on LikeCoin and Matters are loyal users who really agree with the ideals of these projects and want to realize them together. I think that at the current market level, the full-circulating market value of LikeCoin should be worth at least $50 million, which is 85% undervalued at the current price.

This triggers my mercenary animalism - how to achieve the revaluation of LikeCoin? This is where the benefit lies. To achieve this goal in a decentralized world, not only by myself, but by the strength of everyone. Therefore, this is actually an entrepreneurial process, and now we need to find partners to start a business together.

Then we were reminded to vote on Motion 5, which proposes to raise the inflation rate, which brought more associations to me and triggered my radical proposal above.

big shuffle

To realize the revaluation of LikeCoin, I have to find a partner to do it together, so what kind of people do I want to find and how can I impress them? Use exclusion first. Today, after the development of LikeCoin Chain for a year, the total delegation rate is still only a very low level of less than 27%, not to mention the profit and loss, if it is purely based on the technical considerations of the Byzantine Fault Tolerance (BFT) Proof of Stake (PoS) mechanism, such a low level The entrustment rate of the company has been seriously questioned, which poses a risk to network security, and it cannot be changed. By implementing hyperinflation, the commission rate can be raised to a safer level as soon as possible, that is, more than 70%.

I partly blame the under-commissioning phenomenon on LikeCoin's ICO in 2018. I believe that many people who participated at that time were speculative, and even they have not followed up on the development of LikeCoin, and they did not know the existence of LikeCoin Chain or did not care. It's no wonder, because the money has been lost, it's good enough not to scold the project side, and I need to spend more time observing the project?

Even if my conclusion is wrong, it does not detract from the importance of my proposal at all: 27% delegation rate is problematic under BFT PoS, LIKE is used as a staking token to operate a decentralized network, which is part of the game design share, not simply as a substitute for money or as a means of payment. There is definitely an incentive for network participants to do everything possible to increase the delegation rate to more than 70%, that is, if the annual inflation of 100% is not enough, it will continue to increase until the holders of the currency are afraid of their equity being diluted: either they give up their holdings. LIKE, or they make a delegation.

At the same time, people who truly support LikeCoin today can entrust their LIKEs in exchange for higher returns, and they can also buy more LIKEs in the market to entrust. Slowly, loyal LikeCoin fans will become bigger stakers. This is like a group of like-minded people starting a business together. The difference is that it is not starting from scratch, but on the basis of LikeCoin. The stakeholders we need are not skeptics or haters, but believers. Like-minded people in the class, no need for documents and no swearing, just follow the rules of the game and start a business together.

Validator's position

Will validators make huge profits? You can rest assured:

• If the validators as a whole can make huge profits, more people will enter the market as validators, and reduce the commission rate to win more delegations. In large dPoS chains such as Cosmos Hub, there are a lot of them. Validators with zero commission.
• If a validator's proposal or voting intention is against the public interest, everyone can freely transfer the delegation to it.
• If you feel that some big LIKEs dominate some decisions, you can buy more LIKEs in the market to increase the right to speak.
• If you don't like LikeCoin, you can sell it.

competition in the market

My radical LikeCoin proposal may seem distant, but the urgency is near. Everyone uses LikeCoin every day, have you ever wondered who is developing and operating? Ever wonder where working capital comes from? Who has enough incentives to continue operating? With new blockchain projects coming online every week, it’s getting harder and harder to grab the market’s attention. Back in the day, everyone was hot-headed and engaged in ICO. It has been more than two years, and 90% of the projects have died. LikeCoin is still there. Everyone has more experience, but they have already done ICO projects, but they can no longer regularly look for new ones. The financing channels for development are very limited, and at the same time, there are constantly new projects with more funds to continue to develop and increase market share.

My idea of a hyper-inflation + heavy tax system will not have new capital inflows. To put it bluntly, it is to reshuffle the cards. Let all the real LikeCoin supporters start a business together on the basis of LikeCoin, and try to make the whole The project has more resources to become bigger and stronger. My advice is not a one-size-fits-all solution, because starting a business is not a one-size-fits-all solution. Whether you are a creator, a reader or a simple LIKE holder, now is not a day for stability, but a critical time for survival. Everyone needs to take risks and seek progress.

Epilogue

Even BTC has not yet become an effective payment tool, and can only be used as a store of value. To realize the vision of LikeCoin, everyone can't just look at the current creation return of ten yuan and eight yuan. The cryptocurrency project must have a basic market value to support the continuation of the economic model. Now everyone should find a way to increase the market value of LikeCoin. You should store the earned LikeCoins to increase your stake in LikeCoins.

I believe that the number of loyal supporters of LikeCoin is not a small number in the global blockchain projects, but due to historical problems and limited vision, they have not grasped how to release their potential. I suggest all the loyal fans of LikeCoin to have a bold mentality and make LikeCoin bigger together. You can imagine yourself as the co-founder of this new LikeCoin.