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      "body": "@@ -3,24 +3,25 @@\n ve read the \n+%5B\n Bitnation we\n@@ -25,16 +25,39 @@\n  website\n+%5D(https://bitnation.co)\n , litepa\n",
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      "body": "I've read the Bitnation website, litepaper, whitepaper, and blog; and summarized all I learned into the following <600 words. Enjoy & share :)\n\nElevator Pitch:  \n---\n\"Bitnation’s vision is a global free market for governance services. A post-Nation State world of Voluntary Nations, City States and Autonomous Communities which compete for Citizens by providing a range of opt-in governance services. In our world sovereignty shifts decisively from the State to the Citizen, and humanity reclaims freedom of choice when accessing governance services.\"\n\nBitnation would like Pangea to essentially be the SaaS OS & backend of countless DBVNs (Decentralized Borderless Voluntary Nations).\n\nCurrent Status & Accomplisments\n---\n- Up & running public notary (contracts, land deeds, marriages, birth certificates, wills, etc.)\n- The Bitnation Refugee Emergency Response (BRER), which creates blockchain IDs for stateless people, won the UNESCO NETEXPLO 2017 award.\n- Partnerships with Exosphere education program, SpaceChain's open source space hard/software, Bitnation Whitepaper 1-page summary (3-min read time).me's basic income protocol, Dragonfly's physical security service, B-Umbrella's security, etc.\n- The Pangea pre-alpha iOS & Android app\n- ICO has raised 900 ETH and counting \n\n2018 goals = Dev & release Lucy AI 1.0, Pangea chat, and an arbitration system. Have first DBVNs launched, release a public API & DApp store. Publicly launch Pangea.\n\n\nThe Pangea Platform/DApp\n-----\n\n**Overview:** \nOpen-sourced reputation-based blockchain-agnostic (starting on ETH) governance system. You can earn non-tradable reputation points by participating. This ensures that you cannot buy a reputation, nor gain one through fame. All details (type of law & legal process, etc.) are customizable.\n\nUsers' votes on particular issues are given weight depending on their score in that issue's 'field of work' (e.g. A user who has displayed skill in the food cultivation niche will have a more weighty vote on how to upgrade the community's aquaponics setup).\n\nEvery citizen has a public key ID. Every smart contract has a contract ID, associated public IDs, and any other IDs, addresses, codes, etc. deemed necessary. These will all be stored in the Bitnation Contract Registry on IPFS, used by Lucy AI to serve as as a source for her token distribution mechanism.\n\nEvery DBVN will have Holons; groups of citizens that are focused on one project/domain that is part of the greater DBVN. Holacracy has been successfully implemented in The Pirate Bay, Anonymous, Bitcoin, and Linux.\n\n**Tokens:**\nFour tokens...\n1) PAT (Pangea Arbitration Token) - master token, tradable, used to reward participation\n2) Pangea Reputation System POA (Proof of Agreement) tokens - non-tradable, rep token for Pangea users. Governed by performance criteria & smart contract creation & execution. \n3) Collective POC (Proof of Collective) token - non-tradable, rep token for DBVNs, groups, and governance services on Pangea. Governed by user satisfaction & collective contract creation & execution.\n4) Legal PON (Proof of Nomic) token - non-tradable, rep token for contracts, laws, legal codes. Governed by user satisfaction. This model makes laws easy to rate, update, & tweak.\n\nReputation tokens will be distributed based on Lucy AI's ranking of their performance criteria & Citizen feedback, paired with an Oracle\n\n**Biz Model:**\n2 sources of income...\n1) Small transaction fee on amount judges, arbitrators, and juries charge.\n2) Small transaction fee on amount miners charge for time stamping & contract execution.\n\nICO\n---\n- $30m Hard Cap for 10% of all tokens\n- - 34% total being sold in TSE, including presale & post-ICO slow-sale via exchanges.\n- - 18% allocated for founders & cor \n- Reverse Auction Model. Price reduces gradually and sale ends at hard cap or 1 month. Participants pay resulting rate at end of sale. Reward tiers for early contribution.",
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      "body": "Hi @eddya,\nFirst and foremost - thank you for taking your time to familirase with my post and consideration provided by your comments. Now to your points:\n1.  The point is not whether one can or cannot activate SMTs post ICO. That I myself acknowledge in the post:\n> On the other hand by sequentially managing the wallets – opening the ICO wallet first, thereafter the Bancor wallet...\n\nThe point is about social signalling - once you announce Bancor integration, you have to commit to it. And likely (coz it's blockchain) in code. Thus rationally one would exclusively use it during ICO process and not enabling it post ICO. Why? because in order to creditably commit to Bancor devs would right an invoke function in their ICO contract, implying all what I've said above.\n\n2 If devs can withdraw the connector, that implies that price cushioning mechanism can be withdrawn at any time. If so what is the point for Investors to invest in such ICO and forgo price appreciation if on the way down the protection offered by Bancor can be removed at any time? This looks like a bad deal.\n\n3 You've made repeatedly comment about arb play. The point of arb play is not that it is an invisible hand Adam Smith's style that seeks to find equilibrium in resource allocation (which it does). The point is whose money the trader would be arbitraging. If I as an Investor deposit X and % of that X goes to Bancor connector then arbitrageur by buying at lower price and selling the token to Bancor is effectively withdrawing some of % of X (mine contribution to ICO), that would have otherwise be directed to developing the product. Compare it to current situation - devs raise money and then they use it to advance the product (how effective they are at doing it is outside of the discussion). \n\n4  I've reread the Whitepaper and I could not find a passage that says that Banocor's tokens are explicitly backed by all other Bancor's tokens, that you seem to imply ( universal insurance). The farthest I've gone is the passage, that states Bancor can accept as collateral any other token for connector wallet, meaning limited recourse on that wallet only.  Feel free to correct me by pointing to the passage you derive your argument from. Finally,\n> the nigh-impossible scenario\n\n Really? You seem to forget \n[September 15, 2008](http://www.investopedia.com/articles/economics/09/lehman-brothers-collapse.asp)",
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      "body": "Some things you got factually wrong.\n\n1) Actually, you can activate a Smart Token post ICO. So your whole point about arbitrage damage during crowdsale is moot.\n\n2) Smart Token creators can withdraw the connector they've deposited at any time. So your second point about funds being locked in is also moot.\n\n3) Well yes, if there is an arbitrage opp, people & arbitrage bots will buy low and sell high. But this isn't downward price pressure, its just the way the usual market functions. A Smart Token is simply another node in a network of arbitrage and trading that ultimately determines an assets price. \n\n4) You say that the smart token's connector wallets can be exhausted. They cannot, except in the nigh-impossible scenario where every single smart token in existence is liquidated in exchange for every single connector token. But merely through trades alone, the connector wallet can never be exhausted. So your point about what will happen when a smart token's reserves are empty is moot because in that case there will be no tokens in existence to trade anywhere.",
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      "body": "Hi, I hope you are alright. I am doing blogging and markting in Mosteiros. My own fun company, you know what I am doing. :)  I didn't read that earlier therwise I would \\have asked to team up wih you. If you wato do somehing togeher, I am also getting fired a lot in the past but now not anymore since I make money here on steemit from the payouts. I will wriet younan email but i like to do things in public",
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      "body": "Ducking cool! Fixed the link (I always use tinyimg.io)\nhttp://tinyimg.io/i/ZTVjoFv.jpg\nWas at doc today, everything easy, just some minor problems, cu!",
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      "body": "Yes just what I had in mind indeed, Thank the team for me if you get the chance :) The security point bugs me a bit, but it shouldn't be a problem, thanks for being so honest :) thanks to the site that is :D \n\nGood luck to you, if you have anything to say feel free to message me, maybe it's finally time for me to switch to the bender after all :D",
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      "body": "Yeah It's a big melting pot of ideas, I'm not sure anybody knows what it's for right now, bloggers do well yes, but it's a mix of everything mainstream(YT,FB,Twitter,Reddit,) everybody is just trying to figure it out, I'm not sure there is something to figure out :D it's just a bunch of clay at this point, well fashioned and with many gems inside, the fun part it's not shaped into anything specific, so It can grow in many directions, or at least that's how i see it :)\n\nAnyways most people find it disheartening when they come with a specific reason in mind, Reddit would be one, the payout would be the most approached ad the censure free the third in the top 3 of reasons people come here. Either way I don't think it's either, it used to be a payout platform with no censureship aye, but then something changed magically, :D now everybody is picking up pieces wondering what is the point :D, I say we make one :D \n\nWill check out the golem ,still haven't I'm not in a ruch for a payout either I just like the exploration so far, wouldn't stop myself tho if I was making a profit :D",
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