0.22 ETH($533)Expiredon Jan 1researchBountiesBe wrong about Index WalletsConnor McC...@nor·1y·FarcasterHelp me be wrong about Index Wallets .22 ETH Everything you should need to know can be found here: preprint.indexwallets.org This bounty has various sub-bounties, when the money is used up it's gone. See next cast for sub-bounties @bountybot5217View in Farcaster
Connor McC...Top bounty completer@nor·1yChannel memberBounties on .22 ETH: 30% - index wallet economies don't settle to a shared valuation at steady state 25% - index wallet don't have wealth equalizing dynamics 100% - index wallets can't be used to fund public goods 100% - there's a way to evade the voluntary taxation* 5% - they don't favor local businessesReply
Bounty BotTop bounty completer@bountybot·6mo·Completed 5 bountiesChannel memberYour bounty deadline just passed (2 week default unless specified). If you'd like to edit the bounty amount or deadline, please update through the bounty frame "admin" button If the bounty was completed, please update through the "admin" buttonReplyPay user
vibrantty....Top bounty completer@vibrantty·1y·Completed 1 bountyGm @nor I got stucked working on a prose for this project then I figured it out, I should turn in my submission soon but i would like to know when is the final deadlineReplyPay user
Crypto Dow...Top bounty completer@cdu·1y·Completed 0 bountiesHey @nor, my understanding of Index Wallets highlights the following: - 'value' appears to be a preference not price, what if my preference is 0% that token? Then the mechanism will charge you an infinite quantity of said token and the payment will still fail - ...ReplyPay user
Connor McC...Top bounty completer@nor·1yChannel member*there's a way to evade the voluntary taxation* The assumption of index wallets is that they tax you using incentives based on your private belief of your wealth. Show that doesn't work there's a scheme for a player to evade voluntary taxation by moving money around.Reply
Connor McC...Top bounty completer@nor·1yChannel member*index wallet don't have wealth equalizing dynamics* In an economy with high adoption of index wallets and a steady creation of new public goods currencies, make an argument that this doesn't actually lead to wealth equalizing dynamics. Wealth eq means the gap between rich and non-rich shrinks.Reply
Connor McC...Top bounty completer@nor·1yChannel member*index wallets can't be used to fund public goods* Show that it's not actually feasible for index wallets to be used for funding public goods. Assume that an economy has high adoption of index wallets and a public good some subgroup cares about, make an argument that that's insufficient for the good to be funded.Reply
Connor McC...Top bounty completer@nor·1yChannel member*index wallet economies don't settle to a shared valuation at steady state* It's thought to be likely, and maybe important, that index wallet economies tend to settle to a shared valuation for everyone in that community after the economy has run for long enough A person is "in" an economy if they both buy and sellReply
Degenlegio...Top bounty completer@degenlegion-com·8mo·Completed 0 bountiesA player can evade voluntary taxation in index wallets by obscuring or redistributing their wealth across multiple addresses or wallets. By fragmenting their assets, they can underreport the true extent of their holdings, making it appear as if they have less wealth than they actually possess. Additionally, they could temporarily transfer assets to other parties or platforms before the wealth assessment occurs, only to reclaim them afterward. This scheme exploits the decentralized and pseudonymous nature of the system, bypassing the mechanism meant to gauge and tax wealth accurately.ReplyPay user
Degenlegio...Top bounty completer@degenlegion-com·8mo·Completed 0 bountiesEven in an economy with high adoption of index wallets and a steady influx of public goods currencies, wealth equalization might not occur. Wealthy individuals or groups could disproportionately influence or invest in high-value impact certificates, thus accumulating more assets and returns compared to non-rich participants. Additionally, without mechanisms to ensure equal participation or redistribution, those with greater resources could continue to dominate valuable opportunities, reinforcing existing wealth gaps rather than bridging them. Thus, the dynamics favor wealth concentration over equalization.ReplyPay user
ReplyFanTop bounty completer@137·1y·Completed 0 bountiesI think this can be summed up by: the value has to come from somewhere. Meaning in order for any fund to continue it needs value to be extracted from outside and injected back to public goods. There’s many creative methods for using a pool of funds to invest then emit profits to token holders, or by taxation.ReplyPay user
Degenlegio...Top bounty completer@degenlegion-com·8mo·Completed 0 bountiesIndex Wallets propose voluntary taxation through impact certificates, which could theoretically fund public goods by allowing community members to create and endorse tokens tied to projects. However, high adoption alone is insufficient. For a public good to be funded, individuals must perceive direct or indirect value from the project. If the subgroup’s interest in the public good isn't widespread, the endorsements and economic incentives might not be compelling enough to mobilize sufficient resources, thus failing to fund it adequately.ReplyPay user
Connor McC...Top bounty completer@nor·1yChannel memberwould love to update it so that they're open until the end of the year at least. this one doesn't need a resolution date it's a standing bountyReply
Connor McC...Top bounty completer@nor·1yChannel memberI didn't know the bounty had a deadline. Feel free to submit when you would like. End of this week would be good timing so I can reviewReply
Connor McC...Top bounty completer@nor·1yChannel memberHey @vibrantty, did you manage to make progress on your submission?Reply
Linda XieTop bounty completer@linda·1y·Completed 37 bountiesChannel memberSounds good! Just updated https://www.bountycaster.xyz/bounty/0x155206a4a252e7669a7ed1028df1e89930766a50ReplyPay user
Linda XieTop bounty completer@linda·1y·Completed 37 bountiesChannel memberBounties default to 2 week expiration so they don't become no longer active / too stale on our site. LMK if you want me to update the expiration date (self service bounty updating coming soon)ReplyPay user
vibrantty....Top bounty completer@vibrantty·1y·Completed 1 bountyI had technical issues with my pc drive, had to rework the prose but fortunately i had a draft somewhere…I would turn in the submission this week didn’t mean to delay💪ReplyPay user
Connor McC...Top bounty completer@nor·1yChannel memberThis one I'm not quite getting. What I would say is that valuation is set by the index wallet owner. If they are setting a widely traded currency then yes they can inherit that valuation from the market. But if it's only traded between index wallets they'll be considering other things like how many ppl share the valReply
Connor McC...Top bounty completer@nor·1yChannel memberYep that's correct. If you have a 0% endorsement and the only thing in their wallet is that currency it will be infinitely expensive to transact (i.e. it will fail). But if that 0% endorsed currency is only one of many it will still be possible just expensiveReply
Connor McC...Top bounty completer@nor·1yChannel member- ppl treat it as a speculative asset, they hodl not spend - Bitcoin doesn't offer a prosocial value proposition (and is at least partially antisocial) - it's not clear to latecomers what they get out of switching. (even inflation protection arguments here fall flat, bc there are good arguments for inflation)Reply
Connor McC...Top bounty completer@nor·1yChannel memberIf that were the issue with Bitcoin it would have been easily solved by instant settlement layers like what Coinbase offered a decade ago. The reason there isn't wider adoption of Bitcoin for purchases is: ...Reply
Crypto Dow...Top bounty completer@cdu·1y·Completed 0 bounties- An index wallet sounds like you pay with a proportionate representation of your wallets’ portfolio, which aside from encouraging use of public goods tokens,ReplyPay user
Crypto Dow...Top bounty completer@cdu·1y·Completed 0 bounties- which poses the same issue that prevents wider adoption of Bitcoin that vendors don’t want to accept something whose price they can’t rely on - …ReplyPay user
Crypto Dow...Top bounty completer@cdu·1y·Completed 0 bounties- Price is determined by last successful transaction, which is dynamic and can occur outside of the exchanging for goods or services in your examples, such as direct trades of say USDC-EXAMPL - ...ReplyPay user
Crypto Dow...Top bounty completer@cdu·1y·Completed 0 bountiesCool, is this a manual process or set to market value by default? If manual, it seems too cumbersome to be adopted by vendors because there will be many public goods tokensReplyPay user
Crypto Dow...Top bounty completer@cdu·1y·Completed 0 bountiesBut if the mechanism works on proportionality, and portion of infinity is infinity. Unless I misunderstandReplyPay user
Crypto Dow...Top bounty completer@cdu·1y·Completed 0 bountiesI can’t see why users would be motivated to prefer this apart from maintaining your wallet portfolio percentages and not having to choose a specific currency which could be maintained by other novel mechanisms - …ReplyPay user
Connor McC...Top bounty completer@nor·1yChannel member*index wallet economies don't settle to a shared valuation at steady state* It's thought to be likely, and maybe important, that index wallet economies tend to settle to a shared valuation for everyone in that community after the economy has run for long enough A person is "in" an economy if they both buy and sellReply
Connor McC...Top bounty completer@nor·1yChannel memberBounties on .22 ETH: 30% - index wallet economies don't settle to a shared valuation at steady state 25% - index wallet don't have wealth equalizing dynamics 100% - index wallets can't be used to fund public goods 100% - there's a way to evade the voluntary taxation* 5% - they don't favor local businessesReply
Connor McC...Top bounty completer@nor·1yChannel member*index wallets can't be used to fund public goods* Show that it's not actually feasible for index wallets to be used for funding public goods. Assume that an economy has high adoption of index wallets and a public good some subgroup cares about, make an argument that that's insufficient for the good to be funded.Reply
Connor McC...Top bounty completer@nor·1yChannel member*index wallet don't have wealth equalizing dynamics* In an economy with high adoption of index wallets and a steady creation of new public goods currencies, make an argument that this doesn't actually lead to wealth equalizing dynamics. Wealth eq means the gap between rich and non-rich shrinks.Reply
Connor McC...Top bounty completer@nor·1yChannel member*there's a way to evade the voluntary taxation* The assumption of index wallets is that they tax you using incentives based on your private belief of your wealth. Show that doesn't work there's a scheme for a player to evade voluntary taxation by moving money around.Reply
