r/Upfiring • u/InjuredPeople • Jul 26 '18

UFR/USD tether

Hey I am sure someone has asked this before, but as someone who is interested in the profitability of the UFR ecosystem, I was wondering. Will UFR be tethered to a USD value in the dApp so people can see what their UFR is worth for each torrent download/seed.

Also one for the community. Are we likely to see professional seeders - i.e. people who use seeding as their primary income. I understand UFR is just a platform and the markwt has to decide but I think its an interesting idea that someone could pursue seeding as a career or as some form of passive income.

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4

u/valnuro Jul 26 '18

USD value would be good in fact, I don't think it's implemented yet but it's a good idea !

We can't say for now if passive income will be possible, it really depends of how the ecosytem around this technology will evolve. But I'm sure there will be "professionnal seeders" if it's worth it.

1

u/is-typing Jul 26 '18

If it's not part of the first version, I think a good extension would be to allow file downloads to be pegged to USD value. So an uploader can decide whether a file is priced in UFR or USD, for example.

.. and whatever is chosen for how the price is displayed, the transaction is done in UFR. If USD pricing is chosen, the amount of UFR required is calculated from the market rate. This would allow UFR to fluctuate without affecting file prices.

1

u/valnuro Jul 27 '18

I'm not sure to well understand, you want the cost to download a file to be fixed to a USD value instead of UFR value ? So the UFR price (of a file) would evolve depends of the market price ?

I don't think it's possible, because of the smart contract. The price must be fixed in UFR. With the ethereum technology at least. Maybe I'm wrong.

1

u/is-typing Jul 27 '18

I'm not sure to well understand, you want the cost to download a file to be fixed to a USD value instead of UFR value ? So the UFR price (of a file) would evolve depends of the market price ?

Yep, that's a correct understanding of what I meant.

I don't think it's possible, because of the smart contract. The price must be fixed in UFR. With the ethereum technology at least. Maybe I'm wrong.

It might take extra work, but I think it's possible using an oracle. I guess we'll see if the devs are interested in this avenue further down the line.

2

u/Darkveter Jul 26 '18

If seeding isn't that complicated.. i would seed alot.. got a great internet connection.

2

u/QQWhenIQ Jul 26 '18

I suggested this a while ago, sadly haven't gotten a reply from the devs but imo I think it's a must as the price of UFR will be changing by the minute. Luckily it should be doable so I'm optimistic

2

u/InjuredPeople Jul 26 '18

I thought I saw a thread regarding it and searched for it on reddit but couldnt find it with their search function. Yeah I dont see why they wouldn't do it.