Here is a basic illustration of the concept on youtube...

https://www.youtube.com/watch?v=kXNdfCXvvr4&t=1s

Thanks for watching!

The greatest thing we could achieve with crypto currency- Okcash would be to find out how to distribute it to everyone in the world as universal basic income. That would make it rise in value exponentially. I approached this concept with Dash but fell sick and couldn't do it alone. The idea would be to create a website where people could create a profile and log on every week to receive their weekly paycheck. There are two methods which I see that make this possible. Nodes that reward or Staking. In this way, a certain amount of stakes would be distributed evenly to everyone who creates a profile on the main web site very week. The amounts would be small in perspective to a full coin but because a coin is dividable it wouldn't matter at first how much people received every week because as the coin would be used more and more, small amounts of Okcash would be worth more and more. Also Okcash would create a legacy as the first universal income coin on Earth.

For example, people would dedicate some of their coins to the Universal Income project. (They would still be your coins) but stakes from these coins would be distributed evenly among all participants.  Here is a link to a youtube video where I go over a more complicated form of universal basic income but the basics are very simple.

https://www.youtube.com/watch?v=YMiuqDn0vew&t=79s

And how does everyone like what Dash did with their foundation? Its a cool idea that could be fun with OKcash. They created a foundation for which you could buy membership in. You can pay per year or for a larger amount become a lifelong (and beyond) member. Its a great way to get some funds together for future development of the coin. You could do something fun too like have a foundation chat on discord... Maybe even have foundation members make votes later on for different subjects..

Its nice to see that countries like China are becoming globally conscious by making it illegal to spend so much electricity on mining. All the money invested in mining could be better spent and better served, especially from an environmental standpoint.

Okcash is proof of stake. It doesn't require mining equipment and I think that on the website/marketing we should emphasize that point more strongly. It also makes OKcash much more resistant to being shut down. And when countries start banning mining many coins don't have a Dark Gravity Well so the block processing times on all these coins will get skewed as mining power is suddenly removed from the system.

Proof of stake is ultimately more secure than proof of work because it has less vulnerable ecosystem soft targets. (Such as major mines and individual miners that could be shut down...)

I think it would be nice if OKcash emphasized these advantages and also develops technology so that operators of open wallets (staking or not staking) are anonymous. Okcash is perfectly positioned to become a major coin if it can find a direction (for example: resistance to oppressive governments actions #can be used anywhere) to guide development. The reason I invested in Okcash is because the main developer is a genius and I can't wait to see what he has in store for the coin he created. And now there are other developers helping out? Awesome.

Hi I wanted to point out that the wallet seems to become non responsive while encrypting . It keeps doing this every time I encrypt a wallet.

I also noticed that when you lock or unlock the wallet its status doesn't always change in the status bar and menu. Someone should look into solving these issues. Thanks!

Here is an auspicious mantra for Okcash:

OM SRI TERNA VAYA YAVA LAVA ORA SIVA VALA OKCASH OM

I suggest saying it at least three times a day and if possible at 3 different times as well for a suggested minimum of 9 times a day. This is actually a very serious spiritual Mantra and can have profound effects on you and your life I want you to know that in advance. What you want to do is also visualize 3 times the most wonderful, greatest future you can imagine for Okcash, in between repetitions. And then you want to get more and more creative each time, your personal challenge after repeating the Mantra is to see how creative you can become.

Eventually with time, you will become an expert at becoming creative and an expert at creating Okcash

I would really like to see a roadmap for Okcash on the website. (EEven if its subject to change, investors like roadmaps)

I'd also like to see the new list of developers and core participants on the website. I think this would add core value and visibility to the coin. As it is right now its really difficult to see who is involved with the coin. Thanks!

Another thing I'd like to see OKcash develop is a solution to increasing transaction fee rates when a coin appreciates in value. For example now that Bitcoin has increased in value a lot it costs more (with the same sending fee) to send money. Would it be possible to make the transaction fee variable to compensate for increased price of the coin. That way as OKcash goes up in value the transaction fee would lower to compensate and keep it possible to make micro transactions.

From Bitconnect review:  Affiliates can also earn referral commissions through a unilevel compensation structure, which is paid on funds that are invested.

This would be awesome to implement for OKcash.

Another cool concept is what we see with Bitconnect. People earn a reward for bringing other people in. It could be fun to incorporate a similar concept to increase and attract adoption.

I also think it would be very nice to be able to load up a plastic card (maybe a prepaid credit card) with OK and pay with it at physical checkout points everywhere. Just say OK and swipe your card. That would be really cool.

I recently had a thought about the problems with cutting the staking percentage over time. The justification for this is that coin generation will last longer and so coins will be mined for more years.

However, I believe that cutting the staking percentage will be counter-productive. I might be wrong on this but I know that at less than 5% I will no longer hold OK just for the stakes.

Right now at 10% it seems relatively attractive as an investment because when higher prices or price stability has been reached it will be a better investment than most other investments (example those that pay 7% a year) which are very possible to find, for example on the stock market.

Example, why would I hold OKcash instead of Dash when running (or being part of a masternode) pays more than the staking reward of OKcash. These are questions/answers we want to solve.

In my opinion, It would be better to make all the coins faster and provide a better short term investment prospect to reach mass adoption. Once OK has a large user base, interest (staking) will hopefully serve as less of an incentive to hold as the price will increase with demand and encourage people to hold... but in the short term, to stabilize the price and increase adoption we should aim to provide a better return on investment.

For example, another proof of stake coins provide 25% return per year and they are currently doing better than OK even though the community is smaller. I understand that total coin production will be faster as a result of higher stakes but should we not plan for this lifetime instead of thinking about stakes for other peoples lifetimes? Once people are using OK everywhere stakes will matter less. I think there should be more reward for early adopters (To attract) and we are still very much at that stage of early adoption.

Any thoughts on this? Thanks

Edit/solution: I just had an interesting idea. How to encourage people to buy more OK? We could make the stake percentage variable. The more OK you have the higher the stake percentage (With a limit of course). For example, if you have 1000 OK or less it pays you X amount a year. If you have double that, it pays X2 per year, etc. This way we create an incentive to accumulate more coins.

I think the fact that the wallet stays open is incredible because so many layers can be added to it.

Ideas to consider:

-Having an integrated web browser in the wallet. When you buy things online you need to search for them/about them, compare prices, why not do it directly from the wallet you will pay with, its more efficient. And it would be a great feature to add value to OKcash. It could also host advertisement to provide revenue for the developers that work on OKcash. A revenue stream for OKcash development.

-Complicated: Having OKcash run on a private internet.

Concerns/idea: Are nodes ''hidden", can a government for example know that I am running a node/have an open wallet? If not can we hide the network? This would also probably be beneficial for network attacks.

Big idea: Create a decentralised exchange where you can buy/sell any alt coin but that runs on the OKcash wallet. This would have many positive effects and would encourage more people to use/have/have open OKcash wallets. For example, create another revenue stream for OKcash. Also, with the OKcash wallet directly linked to the decentalised exchange many things would be possible. More layers... For example, then we can get employees to run the business of the exchange and (idea up above) internet browser. If there is a businessthat runs these aspects then we can put in other layers and have that company support the whole network and community. For example, password management... You forget your password? No problem. You lose your private key. No problem. The company is like a bank and administers it for you (on blockchain you call in explain the situation, they verify your identity and voila! Thank you for calling today and have a nice day, your password is.... Here is your private key.... Wallet insurance services.

Interesting.

One of the features I would really like to see for the wallet itself is some way to hide the balance while keeping the wallet open. ''Hide Balance" A hide balance option would really be nice in the wallet.

Banks have this at ATMs and its always made me uncomfortable having an open wallet when people are around because people can see your balance.

Quote from: tese on September 13, 2017, 04:13:03 AM
Your idea looks pretty interesting r-ando!
Integrating an open chat (same as OK-general at Discord) could help to get the wallet open too.

I've thinking about creating some videogames tournaments and parties to meet the communnity and gain visibility,
We can make a wallet to deposit the entry fee (1 OK per game, for example) and the winners win that jackpot.

My English it's a bit basic but I hpe you can undestand me

I really like that idea! Social interests fits in perfect with chat. No pun intended with interest of course... hahaha it is OKcash with staking