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      "permlink": "steemitboard-notify-exploringeos-20190509t195929000z",
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      "body": "Congratulations @exploringeos! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@exploringeos/birthday1.png</td><td>Happy Birthday! - You are on the Steem blockchain for 1 year!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@exploringeos) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=exploringeos)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-05\"><img src=\"https://steemitimages.com/64x128/http://i.cubeupload.com/7CiQEO.png\"></a></td><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-05\">SteemitBoard - Witness Update</a></td></tr><tr><td><a href=\"https://steemit.com/steemmeetupaachen/@steemitboard/steemitboard-to-support-the-german-speaking-community-meetups\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmeoNp9iCaCfd2D6TqnWa3Aky2mU4Fm3xaSmjTM91YoNBS/image.png\"></a></td><td><a href=\"https://steemit.com/steemmeetupaachen/@steemitboard/steemitboard-to-support-the-german-speaking-community-meetups\">SteemitBoard to support the german speaking community meetups</a></td></tr></table>\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "title": "EOS State Coin Project",
      "body": "<a href=\"https://exploringeos.com/14-the-eos-state-coin-project-an-idea-for-a-worker-proposal/\">Original here</a>\n\nHow do we get more major countries to adopt crypto as their legal tender currency?\n\nThis is the question I was pondering when I came up with the following idea.\n\nConsider a country like Venezuela that is currently running the printing press so much that they're seeing something like 1400% inflation! This is a terrible thing for the people of Venezuela and eventually it has to stop. The government can only print so much before they need to come up with a new currency or some how reset their currency.\n\nWhen a country gets to that point they are extremely desperate. They really need a bail out because they've screwed things up so badly and they are going to need money or they will likely lose power. Usually they've already stolen, through inflation and probably taxes, most of the money of the populace. There's not much more they can do.\n\nI don't like the idea of helping out a government like Venezuela's, really it should be abolished. However, a way to bring some civility and freedom back to that country would be a return to sound money. A great way to do that is through cryptocurrencies.\n\nOf course Venezuela has already tried that, but no one trusts them so I think it was a bit of a flop. If they were to adopt a crypto that they have no control over, then it would work. Even better if they were to adopt a token on the EOS blockchain, not only would they have to abide by the constraints of sound money but also the constraints of the EOS constitution.\n\nImagine the Venezuelan government having their crypto frozen because they violated the EOS constitution because they committed violence against a fellow EOS token holder in Venezuela! Well, here's a way that could happen.\n\nVenezuela is just one example here. There are other options that I will outline at the bottom, be sure you read them :)\n\n**The Smart Contract**\n\nCreate a 'Crypto Venezuela Coin', CVC from here on out. The CVC would be a smart contract on the EOS blockchain. This would provide fast confirmation times and high transaction throughput.\n\n**The Token Supply**\n\nThe token supply would have to be big. I tend to like the idea of more coins and fewer decimals. But I think I would need to be divisible into at least 100 Trillion indivisible units.\n\n**The Inflation**\n\nI know, I know, inflation isn't sound money. Well, even gold has some small level of inflation so bear with me on this... The CVC smart contract would have set inflation of say 3%. That inflation would go into a 'lockbox' escrow account that no one has access to.\n\nI'm partial to the idea of not making the inflation a percentage but rather the same amount every year. But either way would probably work.\n\n**The Token Distribution**\n\nFirst, do an airdrop of say 10% of tokens to EOS token holders. We love those EOS token holders :)\n\nSecond, do a series of airdrops to verified Venezuelan citizens.\n\nI'll explain. Of course we would have to partner with blockchain based identity system. Hopefully we'll have something good enough soon! The reason for this will be come clear later.\n\nThe reason we do a series of drops is to incentivize a greater number of Venezuelans to register. So maybe an airdrop each month for 6 months of 10% of token supply. That way early adopters get rewarded but there's time for others to come in and get some. Maybe some sort of referral incentive would be good since we want as many people to have some as possible.\n\n**Back to The Contract - The Government**\n\nAs part of the Ricardian Contract (that's the human readable contract), we have it written that the Venezuelan government can take control of the Escrow account as soon as they fulfill certain stipulations that they have control over.\n\nThe stipulations could then be something like:\n\n    1 Adopt the CVC as your legal tender/official currency for all governmental transactions\n    2 Agree to the EOS constitution\n    3 Abolish taxation\n    4 Abolish price controls\n\n#3 and #4 are redundant after agreeing to #2.\n\nHow can something like this be decided on chain? Through arbitration.\n\nThe Venezuelan government will need to file a claim and demonstrate to an arbitrator that they have fulfilled the stipulations. Once the arbitrator is satisfied, he/she can then order the BPs to forward funds from the escrow to the government's account.\n\nOne big benefit of this is that then any transaction with the CVC is governed by the EOS blockchain governance. If the Venezuelan government goes back on the change then an arbitration suit can be filed and the arbitrator can freeze the government accounts and stop them from receiving their inflation income.\n\nWe could even require an arbitrator to reassess whether or not the government is fulfilling the stipulations every month or every year. That way there is accountability to ensure they are adhering to the EOS constitution.\n\n**The Magic of the Market**\n\nHopefully the market will start to value the CVC and trade it on the exchanges. As that price rises, this gives incentive for the government of Venezuela to fulfill the stipulations. Especially since they are in dire need of funds.\n\nOnce the escrow account grows to about $2.5 Billion/year, it will likely be very difficult for Venezuela's government to resist. However, they would be giving up a lot in order to get this 'bail-out' money. But it might just work.\n\nGotta love incentives!\n\n**Other Nations/Strategies**\n\nI originally came up with this idea for the US States. They have some constitutional authority over money, though they don't use it. Even so, they could nullify and just go ahead with a new currency on EOS. I thought of making one for each state and see which one(s) takes it.\n\nAnother concept would be to create one of these for every country and let the market decide which is most likely to take the deal.\n\nA third approach would be to create one coin and not attribute it to a country. The first country that fulfills the stipulations gets it. That way it's a bit of a competition.\n\nAnyway, there's the idea! I think this is a great candidate for an EOS worker proposal.\n\nPlease take a minute to comment and share! I'd love to hear what you think.",
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      "body": "These are keys that you have generated from Scatter you can attribute the key pairs you want to be active or owner.",
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      "body": "Reading further, it appears from the ricardian contract that these keys belong to the new account. If so, where does one come up with these?",
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      "body": "@genereos Thank you for this tool. I'm wondering, Under \"Account Creation\" \n\n\"5. Enter your Owner key and active key\"\n\nIs this the Owner and Active key of the new (about to be created) account or of the account that is creating the new account?",
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      "body": "Very nice! I hope ECAF uses this ASAP!",
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      "body": "That what the LN does but better and more fluid and less hoop to go to...\nThis is just a dumb idea!",
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      "title": "How to Make Bitcoin ACTUALLY Usable. And it's not the Lightning Network.",
      "body": "I had this idea about a year ago but really didn't know of a way that it could be technically possible. But I believe EOS could make it work.\n\nThe problem is that Bitcoin kind of sucks in some ways. Confirmation times are slow. So you really can't use it for regular day-to-day transactions. Transactions per second is abysmal for widespread adoption. There's also those pesky transaction fees.\n\nDon't get me wrong. Bitcoin was revolutionary and it's great in some ways. For example, it's extremely secure.\n\nSo how can EOS solve these problems?\n\nWell, we know that EOS has a very fast block time. 500 milliseconds to be precise. That means instead of waiting 30 minutes for a few confirmations on bitcoin you can wait 1.5 seconds. It's also got at least a 100x more throughput in terms of transactions per second than bitcoin. So it has the basics but what it also has is smart contracts. This combination, I think, could enable a bitcoin backed eos token that is actually usable and would be redeemable in bitcoin.\n\nHere's what you would do:\n\n1 - Create a smart contract that has control over a bitcoin wallet.\n2 - Every time someone sends bitcoin to that wallet they include as part of their transaction their EOS address.\n3 - The smart contract then creates tokens at a 1:1 ratio of the number of bitcoin that were received in the wallet.\n4 - Next the smart contract sends 99% of those tokens to EOS address that was included in the bitcoin transaction.\n5 - The remaining 1% is a fee that could be used in a few different ways and may not even be necessary.\n6 - If someone sends the token back to the contract with a btc address attached, they will receive an equivalent amount of btc (minus the btc network fee of course).\n\nThat's it in a nutshell. To power all those transactions there will need to be EOS staked. I'm not 100% clear on how that is done. But, I'm hoping that it would be able to make it self-sustaining by converting that 1% fee back to EOS and staking it to run this contract so that no one needs to stake their own coins. If that doesn't work then it might work to just have each user of the token have to have 1 eos or so to run their own transactions.\n\nWhat if bitcoin goes away?\n\nIf bitcoin goes away there wouldn't be any way to create new tokens or redeem the btc but you could still use the tokens that were previously created. There would still be a limited supply and fast transaction speed, the price would just float on it's own.\n\nWhy wouldn't this work? Well, the main reason I can see is that this hinges on the ability for the smart contract to be able to store btc private keys and use them in a secure way. I assume this is possible, but that's definitely a big assumption.\n\nOriginally Posted at https://exploringeos.com/how-to-make-bitcoin-actually-usable/",
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      "body": "Thanks this is good stuff! \n\nI started a podcast on EOS You can check it out here: http://exploringeos.com \n\nLet me know what you think :)",
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      "body": "Congratulations @exploringeos! You have completed some achievement on Steemit and have been rewarded with new badge(s) :\n\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/firstpost.png)](http://steemitboard.com/@exploringeos) You published your First Post\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/firstvote.png)](http://steemitboard.com/@exploringeos) You made your First Vote\n\nClick on any badge to view your Board of Honor.\nFor more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)\n\nIf you no longer want to receive notifications, reply to this comment with the word `STOP`\n\n**Do not miss the [last announcement](https://steemit.com/steemitboard/@steemitboard/steemitboard-new-level-notifications) from @steemitboard!**\n\n> Do you like **SteemitBoard**'s project? **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "body": "✅  @exploringeos, I gave you an upvote on your first post! **Please give me a follow** and I will give you a follow in return!<br><br>Please also take a moment to read [this post](https://steemit.com/spam/@pleasestop/introducing-pleasestop-here-to-reduce-comment-spam) regarding bad behavior on Steemit.",
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      "parent_permlink": "eos",
      "author": "exploringeos",
      "permlink": "hey-block-producers-why-should-we-vote-for-you",
      "title": "Hey Block Producers, why should we vote for you?",
      "body": "I want to go around and ask all the block producers why I should vote for them, but instead I'm asking them to fill out a form so I can share it with everyone!\n\n<a href=\"http://exploringeos.com/voteforme\">Click here to give us your best pitch.</a>\n\nI will publish these and potentially read them on the Exploring EOS podcast. \n\n @eosvibes\n @eosdac\n @meetone\n @eoshuobipool\n @eosland\n @bpnode\n @maxwell95\n @eos-canada\n @eosnation\n @eos.detroit\n @eosblocksmith\n @block21\n @eostribe\n @saltblock\n @eos-socal \n @eosnewyork\n @eostitan\n @eostaxrelief\n @alohaeos\n @eoslove\n @eosflare\n @swarmbp\n @infinitystones \n @eossv\n @pythagoras345\n @eluzgin \n @cypherglass\n @bitcoingod2018\n @blockpro\n @tchaineosbp \n  @bodget \n  @eosdublin \n  @eosmetal\n  @eosargentina\n  @eosmx\n @eosmeso\n @starteos\n @eosdr\n @top.one\n @eosrio\n @eosargentina\n @eosmetal\n @eosdublin\n @bodget\n @eos42\n @eosauthority\n @blockmatrix\n @sheos\n @blockmeister\n @tokenika\n @eosemerge\n @marcinsteem\n @roelandp\n @eosamsterdam\n @eos-nl\n @bitspace\n @cryptolions\n @attic-lab\n @blockchainlabme\n @distributedfund1\n @adenso\n @eoszon\n @peterokwara\n @buildteam\n @bancor-network\n @eos.arabia\n @eosindia\n @eosbpac\n @blockliberty\n @eos-asia\n @eosunion\n @eos.hedging\n @eosraychain\n @hkeos\n @eoswancloud\n @blockcc\n @oraclechain\n @onosocial\n @eoscannon\n @liuchengxu\n @eoshenzhen\n @eosgravity\n @eosgeek\n @eos.cybex\n @whateos\n @helloeos\n @antpool\n @eoseco2018\n @oneroot\n @eosbeijing\n @eos.store\n @eoscube\n @eosbidu\n @viabtccom\n @eosbepal\n @eos.wenzhou\n @eosjrr\n @superoneio\n @princeandfox\n @eostea\n @eosngo\n @eos.lawyer\n @hank168\n @eosvillage\n @aibicoin\n @kevinxu\n @cbrgood\n @eosmatrix\n @tuitui\n @eosphoros\n @eoskh\n @eosys\n @eoseoul\n @acroeos\n @eosfish\n @eosnodeone\n @eoslaomao\n @eosjapan\n @uipofficial\n @cigeos\n @eosph\n @eosiosg\n @eossingapore\n @eos.hcc\n @eosreal-io\n @webvr\n @ericfish\n @geos.one\n @eosphere\n @genereos\n @eosnz",
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