21–30 of 121 posts
Earlier quoted context omitted.
Technically it says "We'll invest $100k in the best entrant if you end up starting a company". I guess not bad if you're already working on this?
>if you end up starting a company How can you monetize this? The whole point is that the data is public for everyone to see?
* offer integrations into various relevant systems
* ability to build custom baskets and/or change the weighting of different categories
OK, blockchain fans, I’m genuinely confused as usual… Can someone explain what the point is of collecting price data and then putting it on the chain with a smart contract to do calculations on it? If “censorship” is a problem, why not just broadcast/mirror the signed data? If the calculation is untrusted, why not just publish the source code and let people run it on the published data? What is the blockchain accompl…
Once done, it could be useful to make an oracle with it and put it on ethereum so it can be used by other smart contracts. But not the calculation itself nor the original data points
Earlier quoted context omitted.
>if you end up starting a company How can you monetize this? The whole point is that the data is public for everyone to see?
Just to throw a few ideas in the room: * offer integrations into various relevant systems * ability to build custom baskets and/or change the weighting of different categories
What's your moat here? What's preventing a competitor from using the blockchain data you published to make their own product?
>* ability to build custom baskets and/or change the weighting of different categories
Considering that the data is public, that seems easy to do. See also: above comment about moats.
People really need diverse items: they need food, but also real estate, the prices of which are going through the roof currently, and that's a form of inflation. Also, there are many profiles of consumption. People have different needs.
I'd say that it could be a 100 floating point vector; with the first 40 values arranged by increasing importance on Maslow's pyramid of human needs; 20 for consumption pattern diversity; and 40 for future consumption needs, initially set to 0, to be added at the rate of 1 every 5 years.
Earlier quoted context omitted.
you can have them submit it by taking a photo of the price, or even by taking a photo of their receipt after they check out. you can run sanity checks to clean the data, for example, if someone says eggs cost 50 bucks, throw away their submission, etc.
>or even by taking a photo of their receipt after they check out. Sounds like it'll be cheaper to buy the data off one of those receipt scanning apps. Better reach, and you don't need to make your own data acquisition/validation pipeline.
Earlier quoted context omitted.
Technically it says "We'll invest $100k in the best entrant if you end up starting a company". I guess not bad if you're already working on this?
>if you end up starting a company How can you monetize this? The whole point is that the data is public for everyone to see?
The flip side to this notion is that if someone stands to profit from inflation, they're incentivized to promote discussion of inflation with the hope of increasing it. Would anyone in the blockchain space stand to profit from the US dollar's demise?
Earlier quoted context omitted.
Just to throw a few ideas in the room: * offer integrations into various relevant systems * ability to build custom baskets and/or change the weighting of different categories
>* offer integrations into various relevant systems What's your moat here? What's preventing a competitor from using the blockchain data you published to make their own product? >* ability to build custom baskets and/or change the weighting of different categories Considering that the data is public, that seems easy to do. See also: above comment about moats.
Obviously this is not a billion dollar idea, but it sure could bring in some $ to pay for a full-time developer or two and still make a little profit.
not a bad idea, but the way to do it is probably to come up with a certain basket and then actually have people physically go into stores and record prices in those stores and then reward them with a crypto token for contributing ( kinda like the mystery shopper industry ).
What's preventing people from making up the prices?
Inflation can be good. It causes the value of debts to decrease. However, sharp inflation in consumer prices without corresponding wage increases can precipitate a humanitarian crisis.
All monetary distortion (including inflation) translates into economic distortion (suboptimal allocation and waste).