Wednesday, March 22, 2017

Red/Green and the hardware wallet

The secure wallet is a secure spreadsheet in which valid coins obey the fundamental rules.
But, spreadsheet operation are till allowed, it can be 'parameterized' and slightly programmed. So the secure ledger becomes an adjustable portfolio autotrader, but it must have the red/green.

Red/green is an indicator derived from the typical spending pattern of the thumbprint. A careful spender has a precise distribution of typical transactions, therefore, its ed green scale is precisely notched. In the hardware wallet red green is a validated computation, or actually, the requirement of a private, typical sequence pattern is require.  This is a set up in association with a smart contract application, like a Quicken budgeter, which can interact with the user tapping on his screen.

Red green can be inherited.  When I tap my way into the bitcoin casino, the card needs to set my betting limits and the casino ight want bounded vaiaion on betting.  I get to  operate, in he casino, with simple two scale red/green; but it remains coherent with my everyday red/green. It is a under sampling of my liquidity in the casino pits, I am a bit uncertain on purpose.  But distribution is still bound by my Quicken budgeter, I have a limited  umber of trades until I have to lower my betting variations.


I did not thumbprint the Quicken contract, set my card to all red. What happens?  The and box takes a onetary loss, bounded.  It i bounded because he sandbox had no typical spending contract on you to begin with, and that info is required for most pits, or suffer high cycle prices to compensate.  Losses from uncertainty can be bound everywhere in the pits, if the bets can be fair traded. So, automated bankruptcy is possible, and can be built in.

My gambling addiction!
In the passion of blackjack in the pits, I disavow my Quicken contract. No problem, it is my cash, but Quicken tokenization no longer works, my wallet defaults to consumer cash, the default currency with the default ledger service; maybe zipcoin or tax dollars. The Web casino gets to know this if they have contracted to see your red/green, or any portion of your typical spending generator graph. All two parties, everywhere, have a bounded variation choice to make before price compression.

The fundamental casino contract
The casino is a sandbox within a sand box, but it mostly is designed to be flea market, all loose change with non bankers. The casino will always want to place he better on game with upper and lower bets, such that the better is within one standard unit from moving to lower limits or exit by bankruptcy. The casino then has bound variation, it is priceable and sustainable. The aggregate tokenization services make this possible, like ongoing credit scores, held in private, given out only by thumbprint, and only accurate to contract.

For the app, it is about making the endpoint pricing surface smoother than the pit boss bit error variations. The thumbprint can always find a path forward within any sub box of the sandbox..

Red/green capability, in the wallet / app interaction, is critical to:
  • maintaining fairness, 
  • keeping at no arbitrage everywhere, 
  • and getting government off our backs.

No comments: