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Demurrage (cost to hold currency) could help hoarding. However, at some point, people will start spending them too. There's a fork of Bitcoin which actually ha
by tibbon 14y ago
Demurrage (cost to hold currency) could help hoarding. However, at some point, people will start spending them too.
There's a fork of Bitcoin which actually has this built in.
I imagine we could see an interesting future with cryptocurrencies, where people are essentially betting/investing on the stability of the framework/algorithm and demand on it. Multiple ones could exist, and you're hoping for the best return, or greatest stability.
What would be REALLY interesting is if essentially one of these ends up seeming a better 'idea' than US currency (the de-facto currency now)
- pi18n 14y agoOh, I was going to write about Freicoin. It seems like an incredibly fascinating concept and I'd really like to see an online economy emerge around it. Do you use it?
- tibbon 14y agoI don't, and I'm not sure of where I could generate/buy some. I'd definitely like to play with it a bit.
- wmf 14y agoWhy would anyone opt in to demurrage?
- tibbon 14y agoI think that's a very good question. People would have to think that its a more stable currency with greater long term value to opt into it.
- krichman 14y agoHow is that demurrage any different from inflation, though? I have to invest my cash in things just to get it to maintain the value it has now.
- gst 14y agoFreicoin is a scam. If you mine Freicoins 80% of the mined coins are automatically transferred to the "Freicoin Foundation" (see e.g. https://bitcointalk.org/index.php?topic=134629.0 https://bitcointalk.org/index.php?topic=134629.0). A real demurrage might be an interesting concept, but I wouldn't suggest to buy into Freicoin.
- tibbon 14y agoIts definitely a strange thing. Money goes to "miners and grants"?