@ritual You are a keynesian. Please, cure your kleptomania.
Topic: A crypto currency you can't store? - page 2. (Read 1182 times)
Glerant - very interesting view! I admit I am no economist, and probably don't understand very well how currency even works in the real world, so this could br utterly flawed. It's just an idea 
But still, could you elaborate a bit?
Rit.
But still, could you elaborate a bit?Rit.
If you turn it on it's head then all you are suggesting is a coin with perpetual inflation.
If a coin inflates by 5% a year then by keeping money in a cold wallet for a year you are 'migrating' 5% of your coin worth back to minable coins.
Yep, I hear ya. The inability to store it for long period of time would certainly deter some of the long-term speculators.
But that's also kinda the point. People holding onto Bitcoin for dear life and not spending it is what will ultimately drive the value of the coin down. If it's not being spent, it won't be adopted by vendors, making it less useful and desirable.
Only my opinion ofc
Oh, and it needs a name! Anyone got suggestions?
Rit.
But that's also kinda the point. People holding onto Bitcoin for dear life and not spending it is what will ultimately drive the value of the coin down. If it's not being spent, it won't be adopted by vendors, making it less useful and desirable.
Only my opinion ofc
Oh, and it needs a name! Anyone got suggestions?
Rit.
Maybe idea is not stupid. But it wont work, as many buyers want to keep their currencies and hold for some time...
So I guess currency that you think about will not have many adopters
So I guess currency that you think about will not have many adopters
It's a different idea wheather it works or not depends but theres only one way to find out.
Hello all,
Just musing on an idea that I had while sinking a few cold ones yesterday. Not thought through to any great depth, and possibly fundamentally stupid, but here goes....
Real currency works because it moves. Recession is when money moves more slowly, and boom is when money moves more quickly. Yes, I am aware that is far too simplistic, but nevertheless. Currency is there to be spent.
So what about a crypto currency that was based on a need to move? Coins kept in cold storage or unmoved for a certain period of time would "migrate" back to being mineable again. No more dead coins, lost wallets are not taking coins permanently out of circulation....
Value would be propped up by adoption as a real currency, which in turn would be driven by the need to move the coins on.
Stupid idea?
Rit.
PS: Oh, and I have no idea how one would go about creating a currency like this. I am no coin maker
Just musing on an idea that I had while sinking a few cold ones yesterday. Not thought through to any great depth, and possibly fundamentally stupid, but here goes....
Real currency works because it moves. Recession is when money moves more slowly, and boom is when money moves more quickly. Yes, I am aware that is far too simplistic, but nevertheless. Currency is there to be spent.
So what about a crypto currency that was based on a need to move? Coins kept in cold storage or unmoved for a certain period of time would "migrate" back to being mineable again. No more dead coins, lost wallets are not taking coins permanently out of circulation....
Value would be propped up by adoption as a real currency, which in turn would be driven by the need to move the coins on.
Stupid idea?
Rit.
PS: Oh, and I have no idea how one would go about creating a currency like this. I am no coin maker
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