has anyone pointed out, we're 80% of the way through?

Why are we appointing dictators all of a sudden. Who are you people, Communists?

and some are freaking out, wanting to make sure they get the absolute most out of the last 20%

It's just to stress that a selecting board should not be forced to explain their selection (because that's too time consuming).

Republic

/p rpdf

straight from the horse's mouth

Ok. We have 100 submissions and 50 slots. Which get through?

Someone want gurupepe

/p gurupepe

Kek will provide the answer, as it was written in the ancient scrolls

50 slots per what? Week? That's far too high...

Its hypothetical

We have 20 submissions and 10 slots then

Could use some scrolls now

Which 10 get rejected?

If we rate limit, we need to reject

the last 10

They gets mere success, and that makes them fully blatant!

1ADNEAP6NRK8amcWvcC3eHFVgYBDbx5LpB

Thank you

So we accept all submissions until we hit 1k, then boom done?

No more pepes?

Giveaway ?

If we are expecting more people to enter the RarePepe space soon then it makes sense to start expanding the supply to fit the influx of ppl coming with their pepecash/xcp

http://www.cedarcitylodge.org/books/Egyptian%20Book%20of%20the%20Dead%20(1895%20Edition)%20(243%20pgs).pdf

proposed heuristics: 1) if subject has been done 2 times or more: erk no more. do we really need 13 pepemoon,moonpepe,etcetc

thats the plan, or at least a veeeeery long freeze

Who get's to decide on the submissions? Collectors? Artists?

I think we should have a slow and steady trickle

2) is it engaging or build on existing history? if yes, +1

Not a deluge for a week, and everyone fighting over the existing supply

Can there be an off-market pepe system in place and ones that gravitate towards the top become accepted as certified rares?

3) did taowa make it? if yes, -1

harhar

That way people can submit junk in numbers. Kinda like steem.io

cold blooded

😂😂😂

i dont care, we're pretty much done, if the last 200 are crappy, makes the earlier ones better, if theyre the best ever, makes the earlier ones better

win win

The issue is keeping the community stimulated and excited with stuff to look forward to in the coming months

for that, i would bite the bullet and slow down certification and bite the 2nd bullet and be merciless on what's been submitted

/p relaxpepe do you remember the group with <400members?

rarepepe is the hottest b in the bar, she can be picky

Okay, so we agree submission must be slowed. If 20 pepes are submitted, and we accept 10, which 10 are rejected?

Keks Ancient Scrolls (draft):

1. A maximum of 7 Pepes shall be selected each week, to be the rarest of the rare

2. Five elders, including Mike shall select those 7 rare Pepes.

3. To apply, Pepe creators must submit their already created Token and a link to the proposed picture into a publicly visible list.

4. Each of the elders can give 1, 2 or 3 points to each applying pepe. 1 means: rejected, 2 means: maybe later, 3 means: that's a rare pepe! Cards with 5-9 points will be rejected. Cards with 10-13 points will be reviewed in another week or can only be put into directory by Mike's supervote. 14-15 points means immediate acceptance.

5. Fees for successful submission are 10K Pepecash.

6. Half of the submission fees have to be burned for Lord Kek. The other half will be distributed by the elders, in a manner that respects the duties and tasks that have to be dine.

I have an idea. I submit 200 pepe cards and they are all accepted :)

its up to you

Problem solved

The ones that suck

I don't agree completely

According to?

I think quality has gone up since fees were raised

during the freeze there wasn't a drop in wallet usage

Maybe higher fee makes even better

Raise them to 100k then

Current market cap for a set is like 250k pepecash

lol^^

So its more than enough

100k mcap is cheap

Put prices in line with the market

^^ you are out of your mind

I would happily purchase a full asset for 100k

Contact me

Watch price of new cards get huge as people try to recover costs

All issuance? Of course

Less giveaways

Thats the cost of not voting, sadly

If we go the fee method

that would cut in to what ive been doing but yes, its absurd to spend $10.00 and immediately its worth $1,000

Costs are externalized

Exactly

voting and the shitty cards dont get in

i like the shitty cards

some of my favorites

Of we go the fee route, rip the bandage off

/p pepepeanuts

Put the fee near the mcap price

voting on art is so lame

a classic

If you cant sell it, too bad

👍

they spend 10 bucks and i can buy half their issue aftermarket for 50 bucks

The fee method helps but to use he logic of higher the better will continue at the same scale for ever just won't work there will be a middle group where it works best beyond that wouldn't offer benefit

ive been loving it but it has to dry up some time

👍

there's an inflection point fo sho

Because Monkey business

All sets go for 100k mcap or more

but we arent anywhere close to that now

Set the fee to what the market will bear

Make people think twice before submitting

Submission for inclusion includes soul and soul of your first born

im sure mike will make a good decision

you are deterring creators from caring about the platform with such a ridiculous fee

i can see artists collective, sharing risks, sharing ideas, sharing issuance and certification costs

Not really think twice . People who can't afford to just won't do it . Some of best artists wouldn't be able to . Beyond a certain point it doesn't improve submissions it makes em worse and centralised to the few that can afford t

Patron whales

Artists Union? You are a Communist

hey memetic check your pms

the best artists will always be able to get sponsorship

^

/p stillpepe

Yeah for those who fund it to take a large stake further giving control to mostly only those that can afford y

This is a coup by rich collectors to strangle the rare pepe market

We could develop an ai that chooses

Deregulate the markets!

We already have done that

Maybe Mike is an ai

Girls love Pepe !

/mike

yes just choose random

That

Your greed will leave you with a worthless platform as people move elsewhere. How do you win in a decentralized environment? Create the most value for everyone, especially creators. Investors are a far second. That's why this platform is so successful.

fair is subjective of course but i wouldnt think 1% onerous

visa charge 2%

I am stuttering again

coinbase charge 14%

I don't see fee holding anyone back, even at 10 dollars people are sending multiple a day

That is because the fee is way lower than what they sell for

To limit that, the fee should be a bit under the market cap of a card set

Which right now is 100k+

then what ? this channel would be spammed by advertisings :D

Yeah quality not quantity thanks

with people begging other to buy their cards

yep, getting paid 100-1, hard not to place bets

/random 77

It might seem harsh, but if the fees get burned, no one can claim foul play

Yeah but 100k is a different stake than 4k

/random 77

rekt :p

The whole market will be affected higher sale prices for cards making entry and ownship harder to get into it

Hahs

10K PEPECASH feels right for me...

It increases the worth of pepecash for existing holders as well

if you make the fee 100k the price of the cards will go up 10x which isn't good

I am putting the price of a submission in line with what the artist can sell it for, nothing more

bad idea

100k is ridiculous

yes, it doesn't make sense

Needmoney90 you are full of bologna

Illusion.

additional heuristic: cardcreators that dump all their cards in the past, -1

people will submit but if the card gets accepted they will sell it for 10k lol

I rewrote my draft:

nickname matches

Well, what are cards selling for now?

Keks Ancient Scrolls (draft proposal):

1. A maximum of 7 Pepes shall be selected each week, to be the rarest of the rare

2. Five elders, including Mike shall select those 7 rare Pepes.

3. To apply, Pepe creators must submit their already created Token and a link to the proposed picture into a publicly visible list.

4. Each of the elders can give 1, 2 or 3 points to each applying pepe. 1 means: rejected, 2 means: maybe later, 3 means: that's a rare pepe! Cards with 5-9 points will be rejected. Cards with 10-13 points will be reviewed in another week or can only be put into directory by Mike's supervote. 14-15 points means immediate acceptance.

5. Fees for successful submission are 10K Pepecash.

6. Half of the submission fees have to be burned for Lord Kek. The other half will be distributed by the elders, in a manner that respects the duties and tasks that have to be dine.

For a full set

Some people are also just trying to make pepecash moon quickly too

I checked on my Pepe's today and I spent over $200 in dex fees lol for a portion of them

I don't think high submission fees are bad

guys i think this discussion is going in circles... PEPE is running as PEPE should be running

Ok?

And you're listed on the directory

And you can hedge by buying cash

And some is burned

Toawa the fk are you talking about

Not really...

+1.... if you want to rate limit, you need to do something that will actually rate limit

PEPECASH is in the hands of the rarepepe foundation and the elite scientists.

If you really think that you are deluded, if not then sinister

Think about it

Cash is required for submissions

People will buys cash

Patience + Focus = Success

Goat is back!

More demand

im thinking fairvalue for a whole issuance is 500K pepecash, immediate value more in the ~100-250K pepecash range

So buy cash. Then submit

To hedge

Sure you will. If I think I have created something really great that can bring in more than 250 bucks, I will submit

Never was open.... You can go to Beefs Black Market if you can not accept that... You might fine NUDEPEPE there....

More demand = higher price

Sell cash higher

If it is only limiting that is a concern then submission price would be the most direct effect

You just paid less for submission fees

I never said I don't agree, just saying for people who are debating here

However, there are issues with such a choice, awesome artist doesn't necessarily mean they have money

also if you barely get more pepecash than what you paid it's not very interesting

We're all paying a few dollars now for each dex tx

Keep that in mind

I see...

They work with an investor that can pay the fee in exchange for some percentage of the card

And this is to place an order that might not be filled if it's a bid or ask

Increasing centralisation to a higher degree

Pepe shark tank

If you're confident in your artwork. You won't mind the fee

That's the risk... it's an economic decision which is why I personally like it

I'd only invest if I see the card first...

If you're looking to make quick money you will be deterred

exactly

Drives up quality :)

That could work, more complicated for beginners

It's the free market at work

Just saw a new icons on wallet

art isnt usually a flippers market

.....Free market isn't forcing a specific price

for what option this icons there so? Just for knowledge how many was borned?

You are all orchestrating the destruction of this platform

so artists should realize money comes in time

Exactly. That's what I say. Capitalism over communism. Bitcoin is founded on free market capitalism

The higher the fees, the higher the prices of the cards, the less accessible they are to new users... not good if you want a massive user base

Exactly. And it shouldn't be

Nope. You keep ppl from submitting low quality pepe s

Burned

i thought artists wanted to create art and to sell art so they can create more art

It is if you're the scientists boss

And created the market in the first place

What's your proposal then?

👍

If this market wasn't created there would be no conversation right now

No you can't invent some new definition of free market

Yes, and investors want to invest in quality art. Investors can support quality artists and everyone wins. We get rare limiting plus higher quality cards

10k submission fee would not be that high. It's 27$ now, so many might take that risk...

first we need a bigger user base

But of course Mike wanted to try voting. Try for a month and see how it goes

How is that a new definition?

^^

Create rare Pepe 2 and see how fast it catches on lol

Helpful aren't I ;)

Free market economics isn't setting a price and forcing people to pay

No

Rare Pepe 2 is being made rn

I said it was interesting

I would decide on a desired fee in USD, and adjust the pepecash fee every month or so as it fluctuates if necessary

Ok, let 20 cards in a week, the 20 that pay the highest fee

Done

But too many oppose

if there's no need for immediately recouping certification fees then what's the hurry

You didn't want to try voting?

No one is forcing anyone

Forcing would be making this room private and making people pay to be here

Some tried already and failed...

Or set pepecash fee and never adjust

If there was no fee there wouldn't be scarcity

Not to buy. To submit.

Oh

If it moons you'll have an issue

Which is literally the definition of rare

That.

If proceeds are burned, im down

This is a good idea

what's going on in here

Yeah. That's foolish

Being forced to pay a specific amount determined by a few people to enter said market ain't free market . It would be like the government setting the price of corn like in heavily socialist countries . Not free market

100k is way too much -- this is a free market & the $10 already weeds out the bullshit

Not really at all man. Your example contradicts itself

See corn as Pepe's

Not submission fees

And the dex as the place where trades happen

Submission fee was never a free market. Only pepe trades were

There's no forcing

Exactly

Free market applies to the tokens themselves

Yeah and submission fees will rise he price of production.....And cost of entry

Your example is more like Monsanto and their gmo seeds

You not only need to weed out the total bullshit, but reduce the submission rate though...

Which this isn't

It's an inflated price effecting and forcing he market in a direction not naturally but with implementation of rules

There are other means than fees.

There is no inflated price though

People arent realizing the fee is supposed to reduce submissions by design

They think its a negative

well there are 741 members in here all with different opinions -- y'all will never come to a COMPLETE compromise

Go on the dex and set bids for .000001 xcp

1 pepecash = 1 pepecash.. What moon?

lol

That's the goal (increase cost of production). Cost of entry not increased for existing cards, and folks can start with those

Inflated price is doing what Bitstamp did and implementing a $5 minimum on each trade

You raise the p ice to submit those creators increase price of product.... It happens alll the time

If the dex said 3 xcp minimum on each trade? That would be different

The end result of that model is 'dealers' sharking up all submissions and making this place dryer than Barbara Bush

Or increase the quantity of pepes

Not everyone has pepecash on hand. People will be coming in holding other crypto, and the ones that have pepecash you have an opportunity cost imposed (Eg the investment in a card production might rather be spent selling and buying bitcoin)

I do. But it's height is very hard to set as the effects can be all from successful to total disaster to the platform. If it's too high, ppl will not enter. If it's too low, it won't regulate enough.

Still increases price / asset value

Not because of free market demand but because of restrictions

How?

No one is forcing anyone here lol

My argument is if the fee is significantly below the value you can sell a set for, it encourages creation of sets for profit

it's a big problem if you increase the submission price bc all the values of the rares will go up tremendously

Or people make more supply

The number of 100 issuance cards is too damn high

but then rareness goes down

1000 is the new 100

Yes

Exactly

Seems like people are just butt hurt they didn't listen to all of us like 6-7 months ago imo

If I have 100 cards and sell for 2000 now but having to pay 100k now sell for 2500 increasing supply by 50 they are less rare and cost more per unit

This is exactly what the central banks did before the 2008 crisis. They would raise and lower interest rates to stimulate or cool off growth. And it worked rather well

why would you sell all your cards

sell 5%

raise price

Higher entry into the game by Normie's or anyone

sell next 5%

everyone will still burn their pieces, that enforcement doesn't make a difference

raise price

Am I the only one that has Pepe cash cold storage lol

lol @ Robby taking hints from central banks

I think it was mentioned that 100k is ridiculous

lol

Say 10k or 15k

Monetarism isn't perfect but It's better than a dictatorship 😄

Maybe 7777k

I understand, but still it's very fragile to mess with... Also there's a huge gap between potential profit and real profit. Only if a few cards can be sold high, it doesn't mean that the whole issue will be sold that high.

It was a general example of rising costs of submissions effects the entire economics of the game and increase costs and lowers adoption rate

I think robbys idea of fixing it to usd is best

Nope

^^

Bc we have many factors here

We have cash/xcp

A 'dealer' is guaranteed to pay the 100k for one he likes. An artist is completely unpaid until he hits the mkt, most rares don't sell for 100k

Cash/btc

but after certification is complete, wouldnt mike retire like cincinattus and retire to the country?

And xcp/btc

Also a perfect triangular arb opportunity

so dictatorship with term limits

But besides the point

Only if it's a benevolent dictatorship

Let's take passport for example. You paid 4k pepecash to register, but made 45k simply on 1%.

We want cards to be traded and collected not hodld

Fair enough, he started it

Sometimes you hit goldmines

me too

Well that's why you make good ones

"Keep submission fees significantly below the value a set sells for" and "keep submissions down" are mutually exclusive

Shouldn't be anyone's business what I make on my work. I'm following the few rules like issuance

Exactly

i regularly still have to offer out cards i dont want to just to make sure that someone can buy it if they want to

Quality will be traded

If you have a higher submission cost i think it would encourage more selling/trading by the creator to break even (minimally)

Well the price is public

Just saying

so artists arent tending to the market side of things always

Exactly. Because only higher quality cards will command a higher price

So they will get a return faster

forget aftermarket support, some dont even seem to be concerned with initial distribution

Gotta love market forces 😉

I mean it's no business what I make in terms of people thinking they should get a bigger slice of it

Increasing fee to reduce noise, perhaps. But this 100k shit is insane

Just have a rising price ffs the more submissions you enter each one increases the amount you pay to submit

i dont think 100K is whatll be

You can have multiple telegram accounts

Aftermarket support. I have lifetime warranty and rarity guarantee on my rare Pepes

I never said 100k actually I didn't say anything

haha i mean the constant bid, the bid thats there when there are no bids there

I just walked into people arguing

The goal is to have it high enough to meet the rate limit, but no higher

@nola1978 I know I'm talking to the proponents of such an idea here

Maybe 50k is fine, maybe 75k is fine, it's a dynamic feedback system

I haven't been in a flamewar for a while so I'm flexin

50K is too high...

You watch the submission rates and periodically adjust

Maybe I'm to high

The rate can be determined by the market of submitters, effectively

^

I know I am

Best to set too high initially too

And bring it down

We could have a floating system: for each pepe submitted in a week, 1K of submission fee will be necessary the next week

So if 20 Pepes submitted to the directory in week 1, 20k is the fee the following week

People have multiple accounts

Doesn't matter. If you accept 20 Pepes in a week, the following week 20k is the fee. How many did you add this week?

Why do people think submission fee/quality is a constantly rising line. I.e the higher the submission fee the better the quality. That is true but with everything in the universe past a certain point you will see it declining . 20k might improve quality while hitting 50k would start to see the quality decline again. This happens in everything in life nothing correlates exactly to extremes they begin to decline again past a certain point

^^sanity

7 spots per week get auctioned

Partners can step up for a percentage

Not per submitter. In general..

No because they make a new account to be another subbmiter

With the floating system, if people submit too many Pepes, it will be really expensive the next week...

It wouldn't matter. They could submit as today. But for each new pepe in the directory, the submission fee in the following week will raise 1K. Not per submitter, in total.

What about voting via xcp and the votes are weighted from each address by Xcp days destroyed to prevent spam

Too many submissions

Here we go again

you ever been to a really great party and in the middle of it your friend want to go to another even better party? how often has the 2nd party been better?

Lol rough subject?

the decentralized voting mechanism can easily be faked by mutliple accounts

lets just stay at the first party

Well at first it was free, then 4$, now $10

Cuz Mike gets bombarded with submissions when it opens up. And I believe based on chat but have no direct confirmation that Mike wants to close the directory at 1000 rares

The 2nd party is better when some Art Dealer comes up to you and robs $250 from your pocket

Not if you weight it by xcp days destroyed

OK. Off to bed I am. Consider my floating fee. It's the same system as Bitcoin difficulty. I call it Pepeficulty. Keeps Pepes cult and rare.

That leaves in the area of 200 slots left

It would be voted by pepecash holders but not happenin

those highwaymen art dealers always get ya

And select which ones then?

lol 'voted' by pepecash holders

anyone can submit except for toawa

Well I think they making 60 included in those numbers themselves for the game

this is only rule

they = the rarepepeparty team

not the rare pepe foundation

Yeah lol sorry

Pepeficulty is the key, people. Floating fees week by week based on the number of Pepes submitted the week before...

guys

Good idea

Yeah would increase like a mining difficulty of a coin

35 more members

and we're 777

kek's will

If it rose too high it would drop the next week till a medium is settled on

What's pepe difficulty formula

2^NUMBER_OF_TELEGRAM_GROUP_MEMBERS

Submissions

You set it based on this week's number of submissions.

Yes but how much to adjust

Need formula

By number of unique dex tx of Pepe?

we need PIDpepe

That way it's a real indicator of the market

1k for each pepe during a week sets see for the next week...

Could do % based off week before. 50% increase in subs equals 50% increase in fees

If PEPECASH goes through the roof, you can still readjust

The most important factor is preserving scarcity imo

Or instead of 1K pepecash, you set a fiat amount per pepe submitted...

anything more than 10k will have the 'dealers' buying up all the spots

enforcing the cartel model

# of submissions x 777

(# of submissions x 777) / Dankness

Then will readjust to way low fees the next week

But 1k probably too high

I guess idk

Uncharted territory

Make readjustment smoother...

Like that

Maybe adjust the burn rate instead of submission fee

Or similar

It will have the same impact

bow

The more submissions. The more cash burned

Minimum price preset

1MsN8PvqWRA846zShe7cLYCQ1dAnmi1uiP

Less cash in circulation

Not sure how that solves much

Not that much less cash

Just keep it the same, and take breaks more often

Over time it would "increase submission fees"

All of these solutions just pretty much suck

Without increasing them

What the hell is going on with Pepe valuations in IndieSquare?

pepecash/pepetradingcard pairs are very hard to do in indiesquare. be careful

It's gone funky

its almost like we've been doing just fine so far....

Bitcoin: "A single retarget never changes the target by more than a factor of 4 either way to prevent large changes in difficulty."

But the only preservation of scarcity is in issuance and series number

Things can't get out of hand generally

Any idea would work. We just need a good one

and people losing their passphrase

True lol

But this week was too many submissions.

how about just keep going how we are going, up the fee next week, see what it does to submissions and change fee again

Pepeficulty.

just like we've been doing

i'd like to heap more on mike's plate and say that RPF take possession of 10% of issuance to insure against trapped pepes and incompetent wallet operators

That's probably the best first step

Probably for a few weeks

But it's not a long term solution

i dont really mind the deluge, is anyone here not getting there pepes in?

1000 freeze

Ooh, me too

Sorry, meant last week. This week subs were closed

MEME MAGIC IS REAL

Wow just logged on, full on discussion going on

Im still wanting to submit my first pepe joined like 2 weeks ago, am i i going to have to spend 100k to submit?

Wise Pepe says...The aim of argument, or of discussion, should not be victory, but progress.

No

What's wrong there?

Everything is still the same right now

Thanks for the response crypto

What if btc mooned tomorrow causing 10k Pepe cash to be $200 though?

Then hopefully you have some

Lolol

Lambos for all

Exactly what I was thinking

Hahahhaha ha

Pepeficulty would readjust

So there is pent up demand to create Rares... limiting supply allowed will push demand for off-directory rares

Those are not rare. Simple as that.

I don't think that's the point

If they're good they get included

The end result of all this in the long run is some decentralized mechanism where anyone can create an asset for their pepe and the market decides

i agree with NM here (that's new), lets do what we can to make sure the demand to creat rares doesnt exceed the demand to collect rares

lol you are biting the hand that feeds you

With that idea, start a new project, and do just that...

you seem to think the artists are the only ones here with a value proposition

Which is a function of submissions vs tx

Based on ETH.... Hrhr

the long term value of the whole economy is sustained by creativity

People are inherently greedy, and will quickly create too many, overpriced items, that their is no buyer for

Submissions show demand from artists to supply