Hey all,
I have an idea for a Cash Tokens implementation that I think could help Bitcoin Cash overall.
TLDR: A smart contract that issues NFTs based on how many BCH the person holds. Then this NFT is used as an access token to chat rooms. The value comes from an expected increase in the quality of discussions when you know someone has a financial stake.
Let's say for example NFTs are issued at "every 10" buckets so:
<1 BCH
=1 and/or < 10 BCH
=10 and/or < 100 BCH
=100 and/or < 1000 BCH
etc...
Now lets say Alice has 3 BCH. They sign and send a message to the smart contract which issues them an NFT that represents the "1-9.99999 bucket. They can use this token to join that respective chat room and all chat rooms below it so also the < 1 BCH chatroom as well.
She accumulates more BCH and now has 11 and can now resign a message and get the NFT for the 10-99.9999 channel as well as the two previous channels. THE PREVIOUS NFT IS DESTROYED.
The idea here is to promote saving BCH and also providing some exclusivity.
If a BCH supporter wanted to talk to 'newbies' they can open up the < 1 BCH chatroom. If they wanted to talk to more 'experienced / financially motivated people' they could post in the 100-999.9999 channel and etc.
The idea here is also an easy proof of use case for CashTokens / Access Tokens / NFTs on BCH.
It would provide for people with similar financial stakes to discuss BCH. I think it might give a reason for whales to join the discussion. If I was one of the few people with > 100,000 BCH, pseudonymously having a way to talk to the other > 100,000 BCH holders would be new.
The smaller details I don't have figured out and am looking for input. For example, I don't know the technicals... if Alice has 3 BCH in 1 UTXO and puts 8 more BCH in another UTXO, could she still sign a message proving she has 3+8 = 11 or does she need to send all 11 BCH to one UTXO? This matters because it would be annoying for people to have to consolidate their UTXOs and I believe that might be a security concern to some people. On the otherhand I hear sometimes people saying consolidating UTXOs is good...
What chat application (discord, telegram, slack) would be best for this application?
I dont think this would be a money generating application. Maybe charge a few pennies or a % when the NFT is created but someone else could just copy the idea and offer it for free. I think this works best as a free application because value would be given to the entire BCH ecosystem.
How hard would this be to implement?
Would you use it if it existed?
Think gamification of savings on BCH.
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source https://www.reddit.com/r/btc/comments/12woxhx/help_brainstorming_this_cashtokens_app_idea/
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