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mining all coins instantly, Ah, that's the part I was unsure about. Setting up a new block chain and instantly collecting all coin issuance sets up a lot of n

by seiji 13y ago

mining all coins instantly, Ah, that's the part I was unsure about. Setting up a new block chain and instantly collecting all coin issuance sets up a lot of nice use cases. Yes, that's amazing. If bitcoin ever does become widely accepted, it'll be because a new chain of coins is used that have been 100% mined by a private party (or government) handing them out. When I was at IBM, each manager had fake "Blue Bucks" they used for internal cross-departmental services (moving a cubicle cost $100 "blue bucks," getting a new ethernet drop cost $50 "blue bucks," etc).

adrianwaj 13y ago
If mining all instantly, the key with intracoins is getting the equations right in terms of issuance and supply. There'd have to be some way of issuing them properly. Even if it just equated to the amount of cash reserves and/or cryptocoins the company had, because the idea is that anyone can cash out their intracoins if they need to. Staff need the confidence that they can do that at any time (provided management approves of it (perhaps only some staff have cashout approval privileges)) but the ability has to be there, even if management's willingness is not. For example, an automotive company needs to buy new tires, and it's the tire department that only has intracoins by having sold tires to production line, so that department cashes them out on the company exchange and buys tires from Dunlop. The production line needs some way of getting reimbursed by management or a Sales department who recycles coins back into it (once cars have been sold), so it can then buy new tires and other factors of production to keep making cars. Perhaps Sales would make an order for xx cars from Production and pay with the intracoins it has converted from the cash/cryptocoins it has gained at the edge of the organization. And this also leads to interesting use cases with company conglomerates -- sort of like frequent flyer points that can be used interchangeably across certain groups of airlines... but in this case intracoins across certain allianced firms.

by seiji 13y ago

adrianwaj 13y ago

If mining all instantly, the key with intracoins is getting the equations right in terms of issuance and supply. There'd have to be some way of issuing them properly. Even if it just equated to the amount of cash reserves and/or cryptocoins the company had, because the idea is that anyone can cash out their intracoins if they need to. Staff need the confidence that they can do that at any time (provided management approves of it (perhaps only some staff have cashout approval privileges)) but the ability has to be there, even if management's willingness is not. For example, an automotive company needs to buy new tires, and it's the tire department that only has intracoins by having sold tires to production line, so that department cashes them out on the company exchange and buys tires from Dunlop. The production line needs some way of getting reimbursed by management or a Sales department who recycles coins back into it (once cars have been sold), so it can then buy new tires and other factors of production to keep making cars. Perhaps Sales would make an order for xx cars from Production and pay with the intracoins it has converted from the cash/cryptocoins it has gained at the edge of the organization. And this also leads to interesting use cases with company conglomerates -- sort of like frequent flyer points that can be used interchangeably across certain groups of airlines... but in this case intracoins across certain allianced firms.