TG Crypto - Let's figure it out together...

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  1. 04-06-2021, 06:01 PM
    Quote Originally Posted by EVN View Post
    Would love to know this too. This is base functionality for a high score site and the way it's implemented sucks.
    I'm sure there is another thread somewhere that this would be more appropriate to discuss. I'd like to keep this thread to the topic it is focused on. Many thanks.
    Jace Hall
    Head Custodian
    www.TwinGalaxies.com
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  2. 04-06-2021, 07:23 PM
    Quote Originally Posted by Jace Hall View Post
    The main point is that TG would be limiting the circulating supply by directly correlating it to qualified world record achievement. It will control scarcity, and mining coin becomes a function of "proof of human effort" and can not be artificially generated. It is all public.
    @datagod - Hopefully this helps you understand that there can be no artificial inflationary risk associated with the 2 Billion coin total, as the only coin allowed into circulation must correspond to the public TG WR count. The 2 Billion is simply the finite amount of TG coin that could ever exist and is held in reserve off the market to fulfill the minting process generated by new TG World Records.
    Yes, thank you Jace.

    Quote Originally Posted by Jace Hall View Post

    2.) Gas fees can not be avoided. Any TG COIN transaction that takes place will incur a gas fee (processing fee) until ETH can improve in that area. TG COIN is ETH based. Knowing this, TG is thinking about all the ways to minimize TG COIN transaction (keeping things as submission points for example) until absolutely necessary.
    Etherium is hopefully moving to Proof of Stake this summer, which will alleviate the high gas prices. Miners are upset because they won't be getting paid to mine, but if they donate their ETH to a pool, they can share the rewards granted for the pool validating the contracts. (I am fuzzy on the details).

    I am looking forward to the switch, even though I am a miner. I heat my office here is Subarctica with my computers, but there are millions of machines around the world that are gobbling up a lot of electricity they won't have to. Also, people will finally be able to get some new graphics cards as the incredible demand will for mining rigs will be greatly reduced.

    Quote Originally Posted by Jace Hall View Post

    Since submissions require the use of submission points and each submission requires successful adjudication, there is no easy way to generate TG COIN without human effort being put into doing so - and this again supports the "proof of effort" paradigm of the TG COIN scarcity.
    This is a novel approach, one that I think will have multiple benefits, almost a Mechanical Turk approach to video game adjudication. Mechanical Turk is an Amazon service named after a machine that could play chess, which was itself actually a tiny person inside a box pulling levers. I have used Amazon's Mechanical Turk to identify hundreds of thousands of numbers on a runner's bib. You pay a fraction of a penny per photo analyzed, and within a few hours they are all identified which then allows us to cross-reference names in our database with photos of the people that ran the race.

    I think the TG coin will add additional motivation to clear the queues. If my guess is correct, TG will have a lot more traffic over the coming year as new platforms are introduced to the metaverse.
  3. 04-06-2021, 07:39 PM
    Note: I messed up the quotes, and my edits don't seem to fix. Now reverting to RTM style of quotes.

    Jace Hall:
    - Before TG COIN can be purchase by anyone, there is an exclusive period where TG MEMBERS with SUBMISSION POINTS are allowed to convert their submission points to TG COIN under some conversion ratio. TG Members would need to pay the gas fees on the coin transfer but they would be able to get their hands on TG COIN before anyone else.
    -After the initial conversion period closes, TG COIN would be priced for public purchase made available on the market via an exchange. (ICO)


    Datagod:
    How is the initial price determined? Is that something set by Twin Galaxies? I look forward to taking part. Maybe I can get that fourth star on my founder's entry.

    Jace Hall:
    -As part of the ICO TG would have established more utility, both on site (perhaps in the form of a store with merch and also the re-establishment of certificates), and perhaps offsite (in the form of some business partnerships where the coin can be used.)


    Datagod
    Tying NFT's to the TG Coin could possibly leverage the market's excitement over crypto currencies. Having coins for the sake of having coins seems to be a large motivator. Using coins to purchase off-site merchandise doesn't seem so appealing to me personally. I can already use money for that. Purchasing TG swag though, that could be interesting.
    Last edited by datagod; 04-06-2021 at 07:42 PM.
  4. 04-07-2021, 05:25 AM
    I'm still a noob in the crypto universe, so unfortunately I can't add any reasoned commentary beyond general support if this is something that TG wishes to implement.

    Picking up on EVN's comments here

    https://www.twingalaxies.com/evn/wall/7661/two-player-submissions/page/3#comment67911

    but looping them back to crypto, is there an opportunity to offer bounties comprised of TG Crypto? While bounties have died down, there were always cyclical when I look at back through the TG web archive, so I don't think we've seen the last of them. For me personally, I am still wrapping up my bounties from last year and will need to be better organized next time with the finances (lesson learned).
    Last edited by The Evener; 04-07-2021 at 05:28 AM.
  5. 04-09-2021, 04:02 PM
    Given the history of what has happened in the past there is zero chance this ends well.
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  6. 04-11-2021, 05:55 PM
    Quote Originally Posted by The Evener View Post
    I'm still a noob in the crypto universe, so unfortunately I can't add any reasoned commentary beyond general support if this is something that TG wishes to implement.

    Picking up on EVN's comments here

    https://www.twingalaxies.com/evn/wal...3#comment67911

    but looping them back to crypto, is there an opportunity to offer bounties comprised of TG Crypto? While bounties have died down, there were always cyclical when I look at back through the TG web archive, so I don't think we've seen the last of them. For me personally, I am still wrapping up my bounties from last year and will need to be better organized next time with the finances (lesson learned).
    Ditto the statement here. I thought Twin Galaxies was about tracking and celebrating gamer achievement in a data driven way. Not creating another form of crypto for website functions. I know there are other things that are going on that is likely a time suck that need to be taken care of before having multiplayer scores collected in a more efficient way.
  7. 04-11-2021, 09:55 PM
    Quote Originally Posted by timmell View Post
    Ditto the statement here. I thought Twin Galaxies was about tracking and celebrating gamer achievement in a data driven way. Not creating another form of crypto for website functions. I know there are other things that are going on that is likely a time suck that need to be taken care of before having multiplayer scores collected in a more efficient way.
    We were ok with paying actual real dollar bucks for certificates and such and that got stopped because it was too hard. Imagine buying it with TG coins.
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  8. 04-12-2021, 08:12 AM
    Been passively mulling this over & it seems like a good incentive.

    Pros:
    - Plentiful yet elusive merchandise (diamond scenario).
    - Promotes activity on scoreboard.
    - TG pockets some extra change with zero impact on the free nature of the scoreboard.

    Cons:
    - "Gas" outlay.

    Individual perception:
    - Use/value of the coin.
    Last edited by Barthax; 04-12-2021 at 08:21 AM.
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  9. 04-12-2021, 03:37 PM
    How do we stop this guy ruining the economy?

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  10. 05-23-2021, 07:56 AM
    I think before we get too far with this, we have to ask ourselves what are we trying to do with this coin that can't be done without an old-school points redemption system?
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