Re:How Dogecoin changed my perspective on cryptocurrency
by Houshalter on Saturday December 21, 2013 @06:18PM
(#6948514)
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.
Re:How Dogecoin changed my perspective on cryptocurrency
by vacri on Saturday December 21, 2013 @07:48PM
(#6948792)
Interesting idea - can we make a cryptocurrency whose tokens have an expiry date, like the Zimbabwe dollars?
Re:How Dogecoin changed my perspective on cryptocurrency
by woah on Saturday December 21, 2013 @09:37PM
(#6949098)
I 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)
Re:How Dogecoin changed my perspective on cryptocurrency
by woah on Saturday December 21, 2013 @07:17PM
(#6948718)
Dogecoin actually will inflate indefinitely by 5% a year. Mining will never stop.
Re:How Dogecoin changed my perspective on cryptocurrency
by lmm on Sunday December 22, 2013 @09:10AM
(#6950326)
Really? Wikipedia claims there's a finite limit.
Re:How Dogecoin changed my perspective on cryptocurrency
by KVFinn on Saturday December 21, 2013 @06:25PM
(#6948533)
>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.
Re:How Dogecoin changed my perspective on cryptocurrency
by knapp on Saturday December 21, 2013 @06:36PM
(#6948566)
> 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:
Re:How Dogecoin changed my perspective on cryptocurrency
by edwardio on Saturday December 21, 2013 @08:27PM
(#6948902)
Looking at 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.
Re:How Dogecoin changed my perspective on cryptocurrency
by yesbabyyes on Saturday December 21, 2013 @07:04PM
(#6948677)
That 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.
Re:How Dogecoin changed my perspective on cryptocurrency
by lmm on Sunday December 22, 2013 @09:11AM
(#6950331)
I'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.
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.