4 ms·
The demurrage encourages it's own use as a medium of exchange - use it or lose it. Hoarding of other currencies is not a problem. I recommend reading David Gra
by maaku 14y ago
The demurrage encourages it's own use as a medium of exchange - use it or lose it. Hoarding of other currencies is not a problem.
I recommend reading David Graeber's "Debt: The First 5,000 Years". IIRC it has a good chapter on demurrage, as well as covering many historical currencies which by accident of design were similar to modern demurrage currency in operation.
- tptacek 14y agoWhat incentive exists for anyone to use this currency at all? Why would I ever accept a "freicoin"?
- maaku 14y agoWell there's all the advantages that bitcoin has (low transaction fees, quick processing, no chargebacks, etc.). We're also working on tools & services that would make transacting in Freicoin as easy as possible, so that for example you can set a limit on how many freicoins you want to hold, and the remainder will automatically be swept into an exchange account and converted into bitcoins or dollars.