I don't see how it could be done with a minor change specifically on the technical side??
Elaborate.
For that matter, you are assuming that supply is what is causing the variance, which is, imho, quite erroneous.
The main reason I have seen from watching it, is its current status as a commodity rather than a currency.
By virtue of it merely slowly spreading in usage, it will gradually become a currency.
It is important to note that SC is a "was" and not something that ended up functioning at all.
Topic: Has anyone proposed a coin that adjusts its supply to stabilize prices? - page 3. (Read 2399 times)
April 16, 2013, 11:21:52 AM
April 16, 2013, 11:13:21 AM
this is not a minor change.
Agreed that it's a major change to the economics - money supply would be adjusted to match money demand and stabilize prices. But it need not be a major change to the way Bitcoin works technologically/politically.
April 16, 2013, 11:04:49 AM
the SolidCoin forums.
I see SolidCoin had a similar idea for stable prices: http://solidcoin.info/economy.html
But I'm picturing only a minor tweak to Bitcoin, with potentially the same pricing effect, so the security and decentralized features of this coin would be the same as Bitcoin.
April 16, 2013, 11:02:02 AM
Because the less efficient miners control less of the hashing power, the ammount the difficulty went down would be negligible.
It would likely quickly be filled in my the larger operations, it would, if anything, only make there become MANY more coins in a short period, before the difficulty re-adjusted and stabilized it to the set growth rate.
It would likely quickly be filled in my the larger operations, it would, if anything, only make there become MANY more coins in a short period, before the difficulty re-adjusted and stabilized it to the set growth rate.
April 16, 2013, 10:58:38 AM
the SolidCoin forums.
I see SolidCoin had a similar idea for stable prices: http://solidcoin.info/economy.html
But I'm picturing only a minor tweak to Bitcoin, with potentially the same pricing effect, so the security and decentralized features of this coin would be the same as Bitcoin.
April 16, 2013, 10:56:06 AM
Current lower limit has been calculated at 40 bucks something /btc now due to the rising investment cost.
But if the USD exchange rate went lower, wouldn't less efficient miners just drop out, with the difficulty being lowered as needed?
The less efficient miners are the smallest portion, even without asics, the money in the larger mining operations makes them more efficient.
The smaller, less efficient miners being forced out would be a bad thing, as this would leave only larger industry in control of the coin, thus lowering its security in numbers.
So the difficulty would be lowered, right?
April 16, 2013, 10:48:15 AM
Current lower limit has been calculated at 40 bucks something /btc now due to the rising investment cost.
But if the USD exchange rate went lower, wouldn't less efficient miners just drop out, with the difficulty being lowered as needed?
The less efficient miners are the smallest portion, even without asics, the money in the larger mining operations makes them more efficient.
The smaller, less efficient miners being forced out would be a bad thing, as this would leave only larger industry in control of the coin, thus lowering its security in numbers.
April 16, 2013, 10:43:57 AM
Current lower limit has been calculated at 40 bucks something /btc now due to the rising investment cost.
But if the USD exchange rate went lower, wouldn't less efficient miners just drop out, with the difficulty being lowered as needed?
April 16, 2013, 10:39:04 AM
Current lower limit has been calculated at 40 bucks something /btc now due to the rising investment cost. Doesn't mean it won't go lower still when the paniOMG SELL
April 16, 2013, 10:38:12 AM
What would the best forum be to discuss whether my detailed plan would work?
the SolidCoin forums. April 16, 2013, 10:37:51 AM
probably here.
April 16, 2013, 10:37:16 AM
What would the best forum be to discuss whether my detailed plan would work?
April 16, 2013, 10:36:23 AM
What if the value of 1 coin were pegged to the real cost of computing a certain number of hashes?
lol, how would you determent that? you stupid?it isn't that bad of an idea. btc was tied to electricity costs a while back, remember?
April 16, 2013, 10:35:39 AM
Still, almost impossible to determine the cost, due to the wide variance in electricity costs, the costs of the miner itself, and the efficiency of any given mining rig.
Plus, the avenue for the production cost being reported into the distributed system would still have to be a single source, which would be easily manipulated, if not directly controllable by said source, or hackers who manipulate the data transfer.
Plus, the avenue for the production cost being reported into the distributed system would still have to be a single source, which would be easily manipulated, if not directly controllable by said source, or hackers who manipulate the data transfer.
April 16, 2013, 10:34:21 AM
btc was tied to electricity costs a while back, remember?
When? How did that work?
back in the early days when btc was like 2$ a btc, it was held at that minimum price because all the miners refused to sell for any lower because then they would be losing money for electricity.
its not like i know how to work this mathematically within a cryptocoin ;P
April 16, 2013, 10:31:15 AM
btc was tied to electricity costs a while back, remember?
When? How did that work?
April 16, 2013, 10:29:16 AM
What if the value of 1 coin were pegged to the real cost of computing a certain number of hashes?
lol, how would you determent that? you stupid?it isn't that bad of an idea. btc was tied to electricity costs a while back, remember?
April 16, 2013, 10:26:57 AM
What if the value of 1 coin were pegged to the real cost of computing a certain number of hashes?
lol, how would you determent that? you stupid? April 16, 2013, 10:26:08 AM
What if the value of 1 coin were pegged to the real cost of computing a certain number of hashes?
April 16, 2013, 10:23:06 AM
always 50 coins per block, would be a good sulotion:
that coin would reach stability, when there are 50 coins lost per 10 minutes, and 50 coins generated per 10 minutes.
that coin would reach stability, when there are 50 coins lost per 10 minutes, and 50 coins generated per 10 minutes.
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