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this entire thing is nonsense. seriously. > Freicoin's parameters are carefully chosen to eliminate the basic interest component of investments, called the li
by andylei 14y ago
this entire thing is nonsense. seriously.
> Freicoin's parameters are carefully chosen to eliminate the basic interest component of investments, called the liquidity premium by economists
Liquidity is a real thing, not a product of currency "parameters" (whatever that means). I prefer to hold dollars over gold because I can go to McDonalds and buy a cheeseburger with dollars, but I cant do that with gold. Thus, if someone was like, would you rather have a dollar bill, or $1.01 worth of a gold bar, most people would probably say the dollar bill. If you wanted to eliminate the liquidity premium of a currency, you would have make the currency super illiquid. (Ironically, they've already achieved this because nobody accepts Freicoin right now)
> Usurious non-zero basic interest distorts the free market, incentivises poisonous greed, excess, and short-term thinking, and perpetuates a vicious cycle of boom/bust recessions
No they don't. Maybe if this "argument" had some reasons behind it, I could refute it.
> When business is conducted in Freicoin, participants value present and future holdings equally, and favor sustainable processes.
This sounds pretty magical. Do YOU value present and future holdings equally? Would you rather that I give you a iPhone now, or in 1 year? Okay, now let's say that iPhone is denominated in Freicoin, what now?
> Separation of money's roles as store-of-value and medium-of-exchange allows money to flow when it is needed, in good times and bad
Is money flow an issue? In the modern era, has the quantity of cash available ever deterred anyone from spending money?