Bitcoin exchange rate reached $100 USD per BTC

Re:Bitcoin exchange rate reached $100 USD per BTC by tibbon on Monday April 01, 2013 @11:14AM (#5473519)

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)

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Re:Bitcoin exchange rate reached $100 USD per BTC by pi18n on Monday April 01, 2013 @12:00PM (#5473852)

Oh, 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?

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Re:Bitcoin exchange rate reached $100 USD per BTC by gst on Monday April 01, 2013 @12:27PM (#5474059)

Freicoin 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). A real demurrage might be an interesting concept, but I wouldn't suggest to buy into Freicoin.

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Re:Bitcoin exchange rate reached $100 USD per BTC by tibbon on Monday April 01, 2013 @01:12PM (#5474401)

Its definitely a strange thing. Money goes to "miners and grants"?

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Re:Bitcoin exchange rate reached $100 USD per BTC by tibbon on Monday April 01, 2013 @12:01PM (#5473856)

I don't, and I'm not sure of where I could generate/buy some. I'd definitely like to play with it a bit.

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Re:Bitcoin exchange rate reached $100 USD per BTC by wmf on Monday April 01, 2013 @12:03PM (#5473876)

Why would anyone opt in to demurrage?

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Re:Bitcoin exchange rate reached $100 USD per BTC by tibbon on Monday April 01, 2013 @12:11PM (#5473927)

I 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.

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Re:Bitcoin exchange rate reached $100 USD per BTC by krichman on Tuesday April 02, 2013 @03:18AM (#5478080)

How 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.

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