Imagine a wallet that would send a coin, unbeknown to you, at the senders choosing, to absolve you from any liability that a tyrannical government may impose upon you.
This theory is actually quite simple, you would take a undisclosed amount of currencies you choose, and turn those over to a liquidity pool to facility transactions for the network. Yes, all of your coins are now stake as many different ones as you like, for a convention fee of about 0.1-0.5% per trade based on volume you supplied.
Once this liquidity pool was realized, which does require more work than I am going to get into today, we would be able to send cross-chain autonomous hot-swaps without knowing what currency the recipient desired. This would completely absolve the potential for unrealized capital gains taxes as well as leaving no tangible paper trail for someone without a warrant to infringe your right to privacy with.
If a warrant was provided, you could provide a view key for your wallet allowing a transparent and law abiding authority to investigate your holdings, without having any information that could harm the other user who has not been included in the warrant.
For a working project name it would be interesting to refer to the pool as an ocean, since the liquidity in it would be so vast and from so many different end points. Credit Cards could be added in with zk-channels and BOLT support likely. I could see some people liking to pay with credit but not have their local currency ever realized by the opposite party in the transaction.
Lets Discuss this Theory in the Comments
- Do you see any bottlenecks?
- What is the solution to low liquidity in the pool, it could potential make the service insolvent
- What country would the wallet nodes be operated in
- Would we use browser cache based staking to completely decentralize the network?
- Would we piggy back on a popular algorithm to verify hashes, or just go Proof of Stake?
- Is there a reason to have time locked staking to prevent unexpected changes to the available funds in the pool?
- Why would you use a service like this?
P.S. - imagine if we added support for Hive and Blurt, you could easily choose what network to receive a payment with from any outside source utilizing a complete private network. No input and output would be tangibly connected with real hot-swaps taking place in the pool.
Have you looked at BYT on Hive-Engine? You buy BLURT YEILD TOKEN and they reward holders with a percentage of hive-swap every week or so. There are things involved there that I dont quite understand but hey, another way of stacking while holding.
I used to hold some but the ROI was too slow.
No idea how this stuff works but sounds like it could be a great thing to have.
phenomenal
I tried to pay attention in satoshi class i promise