Edit: Another consideration. I think that at the very least the pruning technology should be separated from the campaign. It would actually benefit bitcoin too, so pure austrians could contribute with that one even if they think that the whole idea of freicoin is stupid.
If the aim was to create a simple clone of bitcoin with demurrage, sure. Don't you think that's aiming pretty low?
I would hope this currency becomes valuable because it is better than bitcoin (because it builds on it), not because it only copies it.
My point is that the pruning is just a technical improvement that is reusable for bitcoin (and other cryptocurrencies). We should work with the bitcoin developers to achieve that. We coould also finance it together.
Personally I like more the bitcoin way of "do it first, earn the the bounty later", but that's another question.
Whenever a demurrage currency seemed to "work" it was the only option available. If there had been a better alternative without demurrage then they would have used that instead. Freicoin will have to compete against bitcoin from the start and it will lose.
I don't know of any fiat demurrage currency. The examples I know are the wörgl experiment (not private), the chiemgauer and other private local currencies like it.
All of them competing directly with a national (or monetary union) currency. All of them worked pretty well.
Can you tell us about your sources?
If I expect falling value doesn't that mean I have to inflate my prices?
For example if I buy 16 years supply of pencils, or erasers, or gold, or land, or whatever... any wholesale good I plan to sell at retail over a period of time to make a living as a retailer... surely I have to keep on increasing the price I require for what is left of my supply as the money I have aquired from what I have sold so far keeps vanishing from my purse, otherwise I will not have enough in my purse by the time I have sold all but my profit portion of the bulk buy quantity.
No, you don't lose money by having stock, that only happens with deflation.
All you have to do is not hold a big quantity of money. You should better spend it or lend it.
You don't need to rise prices, that's inflation.
As said many times,
expocoin is not equivalent to freicoin.
More frequent questions solved here:
https://bitcointalksearch.org/topic/freicoin-bitcoin-with-demurrage-3816Okay, so how is freicoin better for a successful business than dollars, or bitcoins? What profit do they extract from whom by using it? Does it give them more leverage over their employees so that forcing employees to accept rotting/decaying/evapourating money? It is expected they will get more goods from suppliers per man-hour their labourers put in selling stuff for them or building stuff out of what the suppliers supply?
Everybody will save a lot in concept of interests (which are included in the price of EVERY WARE). Gesell uses an entire long chapter to explain how differnt economic actors would judge a currency free of the unfair basic interest: "How Free-Money will be judged".
You can start with the
The Shopkeeper and then use the next button.
You could also read the whole book before criticizing an idea you don't understand (you can skip the first two parts on land and Gesell's particular view on georgianism).
Or is the plan to turn into an investment firm, offering to help the suckers they foist this rotting currency upon a potential escape from the rot if only those suckers will simply invest into the business? Maybe thus turning a nice profit by suckign everyone into putting back into your busienss all the crap-coins you foist off upon them as wages or as change or even as "payment" for supplies?
The demurrage fees go to miners, the people that maintain the security of the network. What's wrong with that?
Why transaction fees are so much more legitimate?