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There's similar ideas being thrown around in the Bitcoin community by using the network to create identities that is cheap for good users, but expensive for spa

There's similar ideas being thrown around in the Bitcoin community by using the network to create identities that is cheap for good users, but expensive for spammers, by sacrificing a portion of BTC to the miners of the network (and then showing verifiably proof). See: https://bitcointalk.org/index.php?topic=140711.0 https://bitcointalk.org/index.php?topic=140711.0

bausson 13y ago
The idea seams really nice, really. Being easily cynical, I will say that those who currently own Bitcoins are those who would make a buck if it was adopted, so it's not surprising to see that kind of idea there. But that's just me being cynical.
- JohnDoe365 13y ago
  I call this realism.
- netcan 13y ago
  This is part of the reason bitcoin is succeeding. Early adopters become like investors. There never was an explicit quid quo pro, but overall people involved early in bitcoin ended up owning a bunch of bitcoin. Anything that increases adoption increases demand for bitcoin and benefits current owners-participants. Cynical is a cynical way of describing this. Interest doesn't necessarily mean sociopathic. It's good for people to have an interest in making bitcoin successful. Our current sensitivity to financial bubbles is confusing here. Currencies are basically always bubbles. They have value only because and to the extent that people believe they will have value in the future. To make a new currency, you need to make a bubble. IMO, what bitcoin needs is exactly something like this: uses as a medium of exchange. A lot of the current interest/value is centered around bitcoin as a value store, if that's what we want to call the current speculative investing. To really make an impact as a currency, people need to be exchanging bitcoin for goods & services.
nadaviv 13y ago
Also see: https://en.bitcoin.it/wiki/Fidelity_bonds https://en.bitcoin.it/wiki/Fidelity_bonds Edit: Also, a comment I wrote a while ago with some more thoughts and information on fidelity bonds: https://news.ycombinator.com/item?id=6048650 https://news.ycombinator.com/item?id=6048650 (starting on the 3rd paragraph)

bausson 13y ago

The idea seams really nice, really. Being easily cynical, I will say that those who currently own Bitcoins are those who would make a buck if it was adopted, so it's not surprising to see that kind of idea there. But that's just me being cynical.

JohnDoe365 13y ago
I call this realism.
netcan 13y ago
This is part of the reason bitcoin is succeeding. Early adopters become like investors. There never was an explicit quid quo pro, but overall people involved early in bitcoin ended up owning a bunch of bitcoin. Anything that increases adoption increases demand for bitcoin and benefits current owners-participants. Cynical is a cynical way of describing this. Interest doesn't necessarily mean sociopathic. It's good for people to have an interest in making bitcoin successful. Our current sensitivity to financial bubbles is confusing here. Currencies are basically always bubbles. They have value only because and to the extent that people believe they will have value in the future. To make a new currency, you need to make a bubble. IMO, what bitcoin needs is exactly something like this: uses as a medium of exchange. A lot of the current interest/value is centered around bitcoin as a value store, if that's what we want to call the current speculative investing. To really make an impact as a currency, people need to be exchanging bitcoin for goods & services.

nadaviv 13y ago

Also see: https://en.bitcoin.it/wiki/Fidelity_bonds https://en.bitcoin.it/wiki/Fidelity_bonds Edit: Also, a comment I wrote a while ago with some more thoughts and information on fidelity bonds: https://news.ycombinator.com/item?id=6048650 https://news.ycombinator.com/item?id=6048650 (starting on the 3rd paragraph)