5 ms·
Never heard of Freicoin before this... While the theory is interesting, it is kind of hard to market such a product in the presence of alternatives that don't "
by fixxer 13y ago
Never heard of Freicoin before this... While the theory is interesting, it is kind of hard to market such a product in the presence of alternatives that don't "rot".
- wmf 13y agoThey may be thinking in national economy terms, but you can't apply that kind of thinking to an opt-in system.
- fixxer 13y agoI think you're absolutely right: Freicoin is a crypto-currency for the Utopian state as envisioned by Occupy.
- diffraction 13y agoUtopia? It's nothing that dramatic. Even with traditional currencies its pretty obvious that we are headed for a period of negative interest rates. It only makes sense that the shortest term government debt, or cash, has a negative interest rate as well.
- namagiri 13y agoWell here starts the trouble with the whole "Freiwirtschaft" movement, surely our economy is heading for negative interest. But for an alternative currency growing within that economy, a negative interest rate may not be balanced at all. So maybe there is no fixed demurrage rate at 5% but instead this rate is just another price and should be adjusted accordingly to the state of the market (and may be positive or negative).
- gfodor 13y agoBernanke et al have signalled they're getting ready to pump the brakes. Or break the pump. Or whatever. In other words, interest rates might start climbing again sooner than you think. http://online.wsj.com/article/SB10001424127887324744104578475273101471896.html http://online.wsj.com/article/SB1000142412788732474410457847...
- fixxer 13y agoFreicoin has built in "income redistribution". I think the drama is justified.
- maaku 13y agoI am the primary programmer behind Freicoin (and the one quoted in the article). I would be happy to answer your questions. Regarding the presence of alternatives, that is in fact the entire point. Money that you do not need liquid and at hand for cash flow purposes should be invested or spent. That keeps the monetary supply moving at a high and near-constant velocity. It also creates a marketplace for credit as people are in need of investment opportunities which do better than demurrage. It's a little confusing, but what we're trying to do is to separate the medium-of-exchange from the store-of-value: two very different purposes for money that are naturally at odds with each other.
- gst 13y agoSo what do you say to the fact that for the first three "Freicoin years" 80% of the mined coins are transferred to the "Freicoin foundation"? From what I've heard about Freicoin so far it's about at the same scam level as all of those pre-mined coins. References: https://en.bitcoin.it/wiki/List_of_alternative_cryptocurrencies#Freicoin_.28FRC.29 https://en.bitcoin.it/wiki/List_of_alternative_cryptocurrenc... http://www.freicoin.org/application-developer-best-practices-t87.html#p919 http://www.freicoin.org/application-developer-best-practices... https://bitcointalk.org/index.php?topic=134629.0 https://bitcointalk.org/index.php?topic=134629.0
- maaku 13y agoThe foundation is a registered California non-profit chartered with handling the initial distribution of these coins. We have an open solicitation for ideas for how they could be spent, and there are a variety of ideas being discussed on our forums (freicoin.org). You're welcome to join.