I have been thinking about the Proof of Brain project.
The tokenomics mimic bitcoin.
50 new tokens minted every 10 minutes for the first four years (early 2025)
25 new tokens minted every ten minutes for the next four years (early 2029)
12.5 new tokens minted every ten minutes for the next four years (early 2033)
6.25 ... (early 2037)
3.125... (early 2041)
1.5625 (early 2045)
0.78125 (early 2049)
So, as you can see... by 2049, proof of brain will be minting less that one token every 10 minutes, only 187.5 per day! At this point in the Proof of Brain projects life, the 5 POB tokens that you got upvoted from me is an hour's worth of newly minted tokens. That really puts early adoption into perspective!
Everyone loves getting 150 tokens for a post. Nobody likes getting 0.034 tokens (unless there is some serious value for these tokens). If, by 2049, proof of brain tokens are worth $100 (or 0.00001BTC - remember, this is 2049 now), people may still be interested in posting on the proof of brain tag. This brings me to my real question.
How we we make POB tokens valuable?
Is it as simple as allowing scarcity to kick in. Early players like me and you will be mega whales in 2049, but will the hard work we put into the brand today be worth anything in 2049?
Token valuation is an interesting thing. Anyone can create a token for some BEE (although that price is rising fast). Look at the #bullshit token. It was designed to show people what a true shitcoin is. It holds no value other than the fact that it is proving a point about minted coins. They are only worth what people believe they are worth.
I mentioned yesterday in this post that POB'ers are about as diamond handed as they come. A whopping 88% of all POB tokens are staked. This shows me what the people think about the long term future of this project!
All of us are staking all of our POB tokens, or burning them to gain some extra exposure. Both are going to put heavy upward pressure on the market. There are none for sale! If I want POB tokens (and I do), I need to go out and get my Brain on!
Delgation aid
I went through @proofofbrainio posts and got familiar with how things are being done here. I found out that I can get a delegation of POB power if I give
@proofofbrainio some Hive Power. It is a speculative play since Hive is worth more that POB, but, I see getting a jumpstart in this ecosystem worth it. So, I delegated 1000 HP to
@proofofbrainio. I also would like this project to have a leg up on Hive, as publicity is key.
Now, my curation is worth something, and I have been out here reading posts and sending upvotes out to the ones that I enjoyed.
Get your Brain on
So, there are really three ways of getting POB tokens.
- Write using #proofofbrain
- Curate with POB staked
- Buy POB on Hive-Engine
Suggestion
A diesel pool might be a good way to get another point of entry into POB. There seems to be a really good spread between the buys and the sells, and a diesel pool may make it a bit easier to get into the game. I am still not sure what kind of incentives there are for liquidity providers, but I am sure @aggroed can fill us in on those details.
The incentives might be good enough to crack some of the diamond hands that are currently involved in this project.
Food for thought
I am not sure if anything else is necessary to keep this project rolling forward. The way I currently see it. POB is like an added bonus for people posting on Leofinance, PeakD, or whatever their favourite tribe is. You can also post directly on Proofofbrain.io if you want to be more directly involved in the project. The POB tokens will be much like PAL tokens, free bonus internet money.
LEO started out as free internet bonus money. It turned into much more than that. It did so by engaging a community, extra development and lots of publicity which set it apart from its counterparts. I am not too sure where we can take this project that will give it legs to stand on and eventually a life of its own. I see it as very possible.
How do we get there??? By working together, sharing ideas, cooperating and working on things to keep the project from stagnating.
Free internet money is good... a legitimate project that keeps on growing is better (and where I want to be).