These are chat archives for ethereumbuilders/edollar

19th
May 2015
Rune23
@Rune23
May 19 2015 00:01
is anyone in the livestream yet?
smiley2015
@smiley2015
May 19 2015 00:02
im here
Rune23
@Rune23
May 19 2015 00:02
is the sound okay?
Rocky Fikki
@rfikki
May 19 2015 00:02
don't know I joined the hangout, but no one there
smiley2015
@smiley2015
May 19 2015 00:02
yes
Sounds fine
just join the youtube link and ask questions here in the chat
smiley2015
@smiley2015
May 19 2015 00:03
So I have a question. What role does the keeper play? My current understanding is that they are a group that can receive the collateral by paying in edollar if the collaterals value is falling rapidly. I don't understand why only a designated group would have this power, or why they would want to be forced to buy collateral that is in a tailspin.
smiley2015
@smiley2015
May 19 2015 00:21
So why have keepers if their function just falls to anyone if they don't perform their duty?
So kinda like bts delegates
Rocky Fikki
@rfikki
May 19 2015 00:23
Who are the governors? and does the use of governors contradict decentralization?
smiley2015
@smiley2015
May 19 2015 00:27
Why do the governors and the keepers need to be different?
Rocky Fikki
@rfikki
May 19 2015 00:29
Where are the daily interest rates displayed?
How do governors get paid?
Rocky Fikki
@rfikki
May 19 2015 00:40
What is the timetable for various aspects of this project
Rune23
@Rune23
May 19 2015 00:40
good question, I should have had that in the video :P
smiley2015
@smiley2015
May 19 2015 00:40
Thanks!
Rocky Fikki
@rfikki
May 19 2015 00:40
Thanks
Rune23
@Rune23
May 19 2015 00:40
we are still aiming to launch at homestead, and have a working test coin on frontier
so on frontier the coins wont have value and you wont be able to put real collateral into the contract, but we will have a fake collateral with a fake pricefeed that pretends it has real value and allow you to issue your coins according to the normal rules
and then we will have a bunch of bounties in ether and makercoin for anyone who can find bugs
im really excited about the new business model
being a central bank is the strongest business model in the world, since we're literally printing money, but as long as we have the encoded rules the money won't be worthless or become inflated, and we will make a constant income stream from the interest people pay on their debts
Rune23
@Rune23
May 19 2015 00:46
if liquidity becomes good enough some people will potentially pay very high interest, if you look at sites like bitfinex the APR for borrowing USD to go long BTC is about 30%
Maker could potentially earn all that money if we provide a good enough platform
Rocky Fikki
@rfikki
May 19 2015 00:46
So what is the status for getting all the team members in place?
Have you looked into: https://mirror.co/