Death in the pits

Roger Farmer made a discovery, we die and that effects the equilibriating model, it forces us to become Keynesian once in a while.

What does the sandbox model say?

Well, he is right. The tokenization services begin reporting human not present, but they only report it when the pit managers do their due diligence, check the trading bots against their fingerprint contract. But, we are allowed to drop coin into the pits, tell the coin to make a thousand trades, only over a narrow band in the red/green.  That bot could be sitting there, legally, for year.

So,  yes, Roger is right. There will be a set of dead, or nearly dead thumb prints, and the sandbox likely ends up with retirement pits, the ledger price is high, the ledger service is costly, and loans to deposits are conditional upon triple entry accounting. There will exist an industry that smoothly retires bots suffering human not present. This industry is a mechanical clock ticker in the smart contract layer, a huge risk and will earn its do-re-me as a ledger service for dying thumb prints.  Redneck has it covered, multi-color pits are in the reference architecture.

The secure elements can be required to support triple  entry accounting. But its use is voluntary.  There is no general rule in the sandbox that a thumbprint ha to make regular appearances.  A hermit might just put  $100 on the thing and leave it only for an emergency of dire necessity. The sandbox will never report 'thumbprint no present' because the hermit has never signed any contracts, he has no bots on duty.  There is no automatic death certificate  in the secure element, it is infinitely loyal once activated.

How does the thumb print not present service work?

The thumb print strikes a deal to run a priceable ledger service, and it works like a craigslist.  it matches retirement places, in likelihood, to retirement requests, in likelihood.  But you contract says you plan to die slowly, somewhere in an imprecisely estimated future. You will cover much of the risk planing in ledger fee.  The application keep  a huge block chain of places for the thumb prints to spend time. You slowly empower the Kanosian pit boss over a lifetime of liquidity events, most of which have warn you out.