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I was in the early days of Dogecoin and it was fun BECAUSE it was worthless. Give out 10k on a lark for a funny picture, etc. Now that's it's being seen a rea
by KVFinn 13y ago
I was in the early days of Dogecoin and it was fun BECAUSE it was worthless. Give out 10k on a lark for a funny picture, etc.
Now that's it's being seen a real story of value, rather than a tool to send a bit of karma around... it's kinda losing the fun. Serious investor/speculator people are buying and selling, arbitrage between exchanges, absolutely massive GPU farms that out mine anything regular person could get.
I guess that's what an efficient market does. Reminds me of the auction house in Diablo 3 where the developers finally realized that an efficient market drained all the fun out of playing the game.
I still have a bunch so one part of me hopes it goes up in real value but the other part of me hopes it stays worthless so it can continue to be used the way it was at the start.
- Houshalter 13y agoWell we could always make a new worthless currency. And set it so it intentionally inflates infinitely so that this can't happen. Zimbabwe-coin maybe.
- KVFinn 13y ago>Well we could always make a new worthless currency. And set it so it intentionally inflates infinitely so that this can't happen. Zimbabwe-coin maybe. Yeah that might work. If you could somehow decay the value of held currency to encourage spending directly that would be even better though I can't imagine it being feasible.
- knapp 13y ago> If you could somehow decay the value of held currency to encourage spending directly Freicoin has a demurrage fee, based on the theories of Silvio Gesell: http://freico.in/ http://freico.in/ https://en.wikipedia.org/wiki/Silvio_Gesell https://en.wikipedia.org/wiki/Silvio_Gesell
- deleted 13y ago[deleted]
- yesbabyyes 13y agoThat reminds me of a suggestion by Charles Eisenstein in his book Sacred Economics - decaying currency, along with zero or negative interest. It would be interesting to see such a "funcoin"! It might not even have to decay that fast to fend off speculators.
- edwardio 13y agoLooking at http://en.wikipedia.org/wiki/List_of_radioactive_isotopes_by_half-life http://en.wikipedia.org/wiki/List_of_radioactive_isotopes_by..., californium-253 has a nice 17 day half-life. I propose we make this our new value of currency.
- woah 13y agoDogecoin actually will inflate indefinitely by 5% a year. Mining will never stop.
- lmm 13y agoReally? Wikipedia claims there's a finite limit.
- vacri 13y agoInteresting idea - can we make a cryptocurrency whose tokens have an expiry date, like the Zimbabwe dollars?
- woah 13y agoI like it. Another idea I had would be to make the client show the balance multiplied by some derivative of network hash rate. Since network hash rate is pretty closely correlated to fiat exchange rate (through mining profitability) this might result in a currency that was more easy to reason about for most people. (instead of a coin being worth 5 times as much as when you bought it, your wallet would contain ~5x as many coins, with the balance increasing and decrease with market volatility)
- lmm 13y agoI'll buy into a cryptocurrency as soon as I see one that doesn't have the extreme built-in deflation of bitcoin etc. With the cornucopia of alternates surely there should be one.
- seiji 13y agoI was in the early days of Dogecoin It launched two weeks ago.
- KVFinn 13y ago>>I was in the early days of Dogecoin >It launched two weeks ago Yup.