Comment: Daniel Isn't a 5th grader...but maybe this will help :)

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Daniel Isn't a 5th grader...but maybe this will help :)

Forgive the broken "o" on my keyboard. I use the virtual keyboard while posting on daily paul - kind of a pain while chatting:

[12/5/2011 9:33:56 PM] Daniel: hey vince, do you have more specific details by chance?
[12/5/2011 9:34:02 PM] Vincent: Yes.
[12/5/2011 9:34:11 PM] Vincent: The w0rk that I've been d0ing f0r the past year...
[12/5/2011 9:34:21 PM] Vincent: is c0ding the backend f0r a private credit system.
[12/5/2011 9:34:40 PM] Vincent: There are tw0 different kinds 0f traders in this system.
[12/5/2011 9:34:45 PM] Vincent: Dealers... and Vend0rs.
[12/5/2011 9:34:57 PM] Vincent: Dealers - issue credits - f0r Vend0r items/services
[12/5/2011 9:35:20 PM] Vincent: Each dealer is in charge 0f regulating the value 0f their 0wn private currency - backed by substance.
[12/5/2011 9:35:45 PM] Vincent: Y0u can als0 pr0vide intrest free l0ans (via service certificates) f0r a 0ne-time dealer fee 0f 25%
[12/5/2011 9:36:17 PM] Vincent: Y0u will als0 be setting up the l0cal medium 0f exchange f0r all 0f y0ur Vend0rs....
[12/5/2011 9:36:19 PM] Daniel: interesting man...
[12/5/2011 9:36:33 PM] Vincent: in 0rder t0 be able t0 transfer their credits between each 0ther - n0 fees.
[12/5/2011 9:36:33 PM] Daniel: sounds like this is for business owners?
[12/5/2011 9:36:47 PM] Vincent: This is f0r any0ne wh0 wants t0 start a business - with n0 m0ney.
[12/5/2011 9:37:10 PM] Vincent: and als0 f0r any0ne wishing t0 change the m0netary system - by replacing it.
[12/5/2011 9:37:19 PM] Vincent: 100% reserve currency.
[12/5/2011 9:38:05 PM] Vincent: I'm als0 getting t0wards setting up the FAQ page - am interested in g00d questi0ns.
[12/5/2011 9:38:14 PM] Daniel: when you say starting up the business with no money
[12/5/2011 9:38:33 PM] Daniel: how is one going to get tangible goods in exchange for these credits as they can with the current system of credit?
[12/5/2011 9:38:55 PM] Vincent: When y0u start....
[12/5/2011 9:39:06 PM] Vincent: Y0u d0 it by listing y0ur 0wn stuff... giving each item a credit value.
[12/5/2011 9:39:16 PM] Vincent: Then y0u simply advertise y0ur stuff.
[12/5/2011 9:39:31 PM] Vincent: When pe0ple want it. The system sh0ws them h0w t0 get it.
[12/5/2011 9:39:38 PM] Vincent: 0r y0u can explain it - it's all VERY simple.
[12/5/2011 9:39:48 PM] Vincent: Everything is pretty self-explanit0ry.
[12/5/2011 9:40:23 PM] Vincent: Y0u are creating credits - which are then backed by the invent0ry y0u take in.
[12/5/2011 9:40:40 PM] Vincent: Which means - 0 c0st.
[12/5/2011 9:41:03 PM] Vincent: If y0u have n0 invent0ry.
[12/5/2011 9:41:07 PM] Vincent: Y0ur credits are w0rthless.
[12/5/2011 9:41:14 PM] Daniel: i see
[12/5/2011 9:41:18 PM] Vincent: If y0u have a l0t 0f invent0ry - y0ur credits have a l0t 0f value.
[12/5/2011 9:41:40 PM] Daniel: lot to wrap the head around but ultimately i can see its simplicity, just a different way of thinking
[12/5/2011 9:42:28 PM] Vincent: Yes very simple. N0t much t0 c0mprehend. When y0u create y0ur dealer acc0unt and l0g in... all y0u'll need t0 d0 is h0ver 0ver the butt0ns/fields - and y0u'll kn0w what y0u're d0ing.
[12/5/2011 9:43:04 PM] Vincent: I've d0ne my best t0 answer all 0f my 0wn questi0ns - with messages and g00d title/alt descripti0ns
[12/5/2011 9:43:21 PM] Vincent: The interface... is similar t0 a calculat0r
[12/5/2011 9:43:24 PM] Vincent: I'll sh0w u...
[12/5/2011 9:43:29 PM] Vincent: sec...
[12/5/2011 9:43:59 PM] Daniel: very nice man!
[12/5/2011 9:44:01 PM] Daniel: fantastic work
[12/5/2011 9:45:57 PM] *** Vincent sent Register 12-5-11.gif ***
[12/5/2011 9:46:05 PM] Vincent: Thank u br0ther...
[12/5/2011 9:46:24 PM] Vincent: Everything t0 d0 with Bart-Mart is handled 0n this 0ne screen.
[12/5/2011 9:46:49 PM] Vincent: Y0u are l00king at the br0wse m0de right n0w.... currently br0wsing invent0ry.
[12/5/2011 9:46:59 PM] Vincent: with my 0hs in it :) l0l
[12/5/2011 9:47:20 PM] Vincent: and the credit values pr0b aren't right - it's just f0r testing purp0ses
[12/5/2011 9:47:24 PM] Daniel: haha, very neat man...but who validates what one's inventory is?
[12/5/2011 9:47:36 PM] Vincent: Yes g00d questi0n.
[12/5/2011 9:47:37 PM] Daniel: i mean, if a man were to come in and say that he has 100 gold bars and assigns each a value of what the spot price is
[12/5/2011 9:47:49 PM] Daniel: he'd have about 1740 x 100 = 174000 credits
[12/5/2011 9:48:07 PM] Vincent: That w0uld be a g00d way t0 place value :)
[12/5/2011 9:48:07 PM] Daniel: but if he had not one gold bar and started purchasing things up with his credits
[12/5/2011 9:48:08 PM] Vincent: l0l
[12/5/2011 9:48:24 PM] Vincent: The referral system makes it self p0licing :)
[12/5/2011 9:48:32 PM] Vincent: sec...
[12/5/2011 9:49:25 PM] Vincent: [Sunday, December 04, 2011 4:20 PM] Vincent:

<<< S0 a small little thing leads t0 a t0n 0f w0rk.... I'm m0ving right al0ng then I think - "What if s0me0ne's "Grand Vend0r" bec0mes a dealer? Since 0nly the dealer agent - gets a share 0f dealer mark - the Grand Vend0r l0ses 0ut. S0.... I've installed a 4th agent - which is the Dealer Grand Agent. That t00k s0me d0ing - had t0 g0 thru all the c0de and add that in... that was the last tw0 days w0rk. I've als0 updated the l0wer wind0w t0 include T0tal Referrals and als0 referral breakd0wn.
Vend0r Agent - Gets 4% 0f mark 0n Trade 0ut on their Vendor's items.
Vend0r Grand Agent - Gets 4% "" "" on their Grand Vendor's items.
Dealer Agent gets 0.75% 0f every Dealer Trade 0ut.
Dealer Grand Agent gets 0.75% 0f every Dealer Trade 0ut.
Bart-Mart gets 0.5% 0f every Trade 0ut system-wide. (F0r my years w0rth 0f bl00d sweat and tears)
T0tal Mark f0r Dealers 0n Trade 0ut is n0w 90% where bef0re it was 88%
FYI - These are n0t intrest payments - these are 0ne time fees f0r services rendered.
S0 when y0u signup - y0u have an agent (the trader that referred y0u) and a grand-agent (the trader that referred wh0 referred y0u)
Real situati0n: Vend0r Suzi brings Dealer B0b a Table t0 back up a credit request. B0b 0ffers Suzi 100 credits. Suzi accepts. Suzi brings the table t0 B0b. B0b appr0ves the credit. At that time the table g0es int0 invent0ry at 150 credits. Ge0rge c0mes al0ng and trades his credits f0r the Table (150) - The mark (50 credits ) is n0w distributed t0 the agents and the dealer:
VA gets 2.00 credits
VGA gets 2.00 credits
DA gets 0.38 credits
DGA gets 0.38 credits
BM gets 0.25 credits
[12/5/2011 9:50:38 PM] Vincent: Questi0n n0t answered just yet... but y0u need that backgr0und...
[12/5/2011 9:50:50 PM] Vincent: Lemme kn0w when y0u're ready.
[12/5/2011 9:51:23 PM] Vincent: [Sunday, December 04, 2011 4:32 PM] Vincent:

<<< Dealer's t0tal mark = 44.99 credits (r0unding g0es t0 agents which is why it's n0t 45 even)
[12/5/2011 9:51:37 PM] Vincent: Dealer gets 90% 0f the mark.
[12/5/2011 9:52:23 PM] Vincent: Mark is 50% 0n items - 25% 0n services (such as Suzi - wh0 cuts hair - issuing 20 certificates t0 y0u... at 10 credits each - y0u w0uld give her 150 credits (0ut 0f 200) f0r the certificates)
[12/5/2011 9:52:44 PM] Vincent: N0w here's y0ur answer:
[12/5/2011 9:53:40 PM] Vincent: Since agents get shares 0f their referral's trade-ins - they can see n0t just the share credits (which are n0t spendable until th0se items are traded back 0ut) - but they can als0 see the items which their share credits are part 0f.
[12/5/2011 9:53:54 PM] Vincent: N0w maybe u can see the answer....
[12/5/2011 9:54:09 PM] Vincent: Say y0ur referral brings y0ur l0cal dealer a table - f0r 100 credits.
[12/5/2011 9:54:25 PM] Vincent: int0 invent0ry - at 150
[12/5/2011 9:54:29 PM] Vincent: mark=50
[12/5/2011 9:54:38 PM] Vincent: y0ur share 0f that mark=2.00
[12/5/2011 9:54:49 PM] Vincent: d0n't u wanna see if the table is really there?
[12/5/2011 9:56:16 PM] Vincent: [Monday, December 05, 2011 9:47 PM] Daniel:

<<< haha, very neat man...but who validates what one's inventory is?
[12/5/2011 9:58:30 PM] Daniel: ahhh, I see now
[12/5/2011 9:58:33 PM] Daniel: that makes perfect sense!
[12/5/2011 9:58:50 PM] Daniel: fantastic work man...now the next obstacle is getting the word out!
[12/5/2011 9:59:05 PM] Daniel: keep me updated on your progress. meanwhile, i gotta go take a shower and get ready for bed brother.
[12/5/2011 9:59:05 PM] Vincent: D0es this give y0u that "why didn't I think 0f that?" feeling?
[12/5/2011 9:59:31 PM | Edited 9:59:36 PM] Daniel: i wish i could say it did, because if i had thought of this, i wouldnt have been competent to implement it as you are
[12/5/2011 9:59:44 PM | Edited 9:59:49 PM] Daniel: and it would have just been another of many good ideas that never come to fruition
[12/5/2011 9:59:54 PM] Daniel: so i'm glad it was you that had the idea!
[12/5/2011 9:59:57 PM] Vincent: I'm telling u - n0 bs... the 0riginal idea was mine... but m0st 0f the c00l side effects 0f answered questi0ns - have c0me fr0m a p0wer greater than myself.
[12/5/2011 10:01:25 PM] Daniel: sure thing brother! have a good night and keep up the good work
[12/5/2011 10:01:26 PM] Vincent: S0 far a few heavy hitters have already c0mmitted.
[12/5/2011 10:01:36 PM] Vincent: Thank y0u br0ther :)
[12/5/2011 10:01:41 PM] Vincent: Blessings :)