Topic: Break on the supply's increase (Read 13376 times)

sr. member
Activity: 434
Merit: 250
Loose lips sink sigs!
January 13, 2015, 02:45:43 AM
So you want to control price and supply? You could call yourself the Federal Reserve of Bitcoin!
Activity: 860
Merit: 1015
December 12, 2009, 02:23:59 PM
But then everyon had to do this, because:

If you buy coins this way, you also have to sell them this way. This means, if another exchange service or internet shop or wahtever does niot use this distribution system, you could sell your worthy coins to new liberty standard, buy many cheap "worthless" coins and you cand spend them at the inet shop, which doesnt distinguish between coins. This way you could buy much more stuff.
Activity: 1
Merit: 0
December 12, 2009, 10:11:37 AM
I have one suggestion (mostly for exchangers). It's about creating a break on the supply's increase, just not a purely artificial one.

I wonder whether the exchange of coins (for physical stuff) could be done at a rate dependent on the number of spends?!

For example, exchange 1 freshly minted (this is seen in the coin's history) coin for $0.001, exchange 1 coin which was spent 1 time for $0.002, exchange 1 coin which was spent 2 times for $0.004. And so on...

Why? Because I wonder whether this kind of natural cost (= the number of spends / the circulation of coins, rather the their minting) would create a break on the supply. Of course, those who create coins could also artificially spend them inside their computers.

This means that there would have to be some sort of public markers which are considered valuable by the public. For example, if a coin was spent once to a given list of entities / peers (like exchangers), it gains 1 point of exchange value.

Since exchangers exchange coins for physical stuff, this could create a break.

I also wonder whether the markers could be simple peers whose public value is voted by other peers?!

It's all really fuzzy now and too early into the system.

George Hara
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