Some form of Demurrage or a Devcoin tax could help move the currency in a controlled manner, by distributing a specific percentage in a predetermined way For example, everyone giving 5% of their earning or like in demurrage a fixed schedule of depreciation going towards a decentralized market. it could help ameliorate the problem of lost coins in a fixed quantity currency.
It could be made within the Devcoin client, a p2p market, where your coins join the pool of Devcoin account holders in distributing the coins to exchanges, or faucets, or even much needed projects, basically, I'm thinking of adding concensus driven government inside the client to manage the growth of the currency. we make the choices on where to distribute the funds collectively, with our combined purchasing power we could open up new markets for Devcoin.
Maybe even start making automation rules for the currency to react in a specific way to changes in the network, we would have to figure out how to transfer into other currencies probably through OT, simply signing a transaction record on the OT server into the Devcoin blochain on a transaction can give us p2p exchange capability. All the customer has to do is download the OT contract, redeem it at a local Devcoin exchanger, sign the transaction when receiving the funds and walla, p2p exchange.
I suddenly realized it could be easier than we think to create a distributed exchange when using OT and simply creating verifiable in the blockchain OT receipts. We could even build OT into Devcoin! for not just money transfers but for deeds, and property rights.
We can have a product that no other crypto currency has yet... simplicity, ease of use , accesibility, and extreme flexibility, I think we can create a craigs list exchange market on the Devcoin blockchain using OT.
Their is a ancient system called Hawala, that is very similar to this, an informal payment system, it could be funny to apply a similar system for blockchain property rights. They do it with phones and if you have the right code they give you the money, how hard can it be to buy goods over the blockchain? List your stereo, mark it's serial number hash in the purchase transaction to escrow, pick up day comes, the person with the receiving code unlocks the escrow transaction, transaction is made with OT receipt both parties have a permanent receipt with property rights contract transferred into the blockchain.
I can see myself purchasing something quickly over a Blockchain based marketplace, buying it online for friends and family to receive, near or far, from the comfort of my cell phone, assured that only their signature can unlock the purchase transaction, pre-paid goods over the blockchain. I figured it's not that hard when you realize all a Blockchain is, is a shared synchronized database.
Yes there was a simple site does this escrow service Ill see if I can find it.. i like the idea.
Anyway we got the offer from unthinkingbit that every developer that furfills one of the above tasks, will be supported as developer by devcoin.
