Thanks I appreciate your effort and your candid openness about the challenges with block chain activity.
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Thanks I appreciate your effort and your candid openness about the challenges with block chain activity.
That said I would like to add a few thoughts. So yes different transactions have different values. Liking or up voting a social article on Steemit has relatively little value. Buying something online or paying a contractor does have a big value. We can build a block chain that counts computational cycles, but that might not be of "real" value. In evaluating these chains, it is useful to look at a number of factors. Many chains, including BTC, have a huge amount or "wash trading" (coins going back and forth between two account to make it look busy). Counting the number of unique address, addresses with funds or address active in the last 30 days also provide insight. Even Facebook and Twitter have huge problems with large numbers of bot created accounts so it is not surprising that blockchains do. Generally, it is my understanding that 80% of all reported crypto trading volume activity -on all exchanges- is fake. Some exchanges are worse than others. Even BitShares suffers some from this, of the 1 million plus accounts, only 50,000 ish have a BTS balance (ie money in them). Many of the transactions are bot generated. I was looking the other day and CryptoBridge has a bot that changes prices via blockchained orders, just to make the website appear blinky. (Other exchanges do this as well, but be aware those orders appearing and going away are there to manipulate you- I mean make the site look busy.)
Crypto has a problem of garbage in garbage out. Everyone is trying to make the project successful via a fake it till you make it route. If we don't have honesty in the numbers, we cann't give people the information they need to build successful technology. I don't know if it is going to take a long downturn in Crypto to get some of the dishonest actors out, but once we do that, maybe we can build the technology that we need.
All that said, not to complain. I do have a potential unique suggestion to offer privately...
Please, join the Telegram channel and find me as @EsetafnTT.
But bear in mind that if your solution is possible and interresting, it will be added to Blocktivity 2.0. Right now, the current version doesn't allow to do much more than what you can see.