Topic: How to fix bitcoin - page 2. (Read 1806 times)
I think you're trying to solve a problem that doesn't exist. Have you done any research on Freicoin? I'll never use it but if you'd like a money that leaks, it's a sure bet.
Miners arn't affected by prices or demand/offer. They process transactions, no matter the nature of those, be it buying games for charity (HumbleBundle), sending money to family, buying drugs or speculating.
The reason we hold bitcoins is because it's the future. The future ain't here yet though, once it's here, we'll be able to pay anything with them and that will be when it's a currency. As for getting there, I'm clueless.
The reason we hold bitcoins is because it's the future. The future ain't here yet though, once it's here, we'll be able to pay anything with them and that will be when it's a currency. As for getting there, I'm clueless.
In my opinion bitcoin is a bad currency for common use. My problem is that it does not encourage economic growth, it seems like the smarter bet is to always hold rather than spend (this is not a new idea in any way). So what you end up with is a minimal amount of spending. Now there's a lot of debate in that statement alone... but if you accept that a growing economy is better (at least at this point in time in history... which I believe it is because there are millions of people in this planet who do not even have the basic necessities) Then what is needed is a currency that can adjust itself based on the current economic conditions.
Here's my idea. Today the difficulty target is adjusted to try and release a block every 10 minutes or something along those lines (sorry if my memory is hazy). Instead, A good currency should instead release blocks based on the supply and demand for currency. In doing so, prices will fluctuate based on the supply and demand of products/commodities/services themselves as opposed to the demand for money.
As a programmer, i've been trying to think of a way I can use the quantity theory of money (mv = py) to adjust the difficulty target, so when the economy demands more coins (more are created) and when it needs less (less are created).
Just curious what you guys think?
Here's my idea. Today the difficulty target is adjusted to try and release a block every 10 minutes or something along those lines (sorry if my memory is hazy). Instead, A good currency should instead release blocks based on the supply and demand for currency. In doing so, prices will fluctuate based on the supply and demand of products/commodities/services themselves as opposed to the demand for money.
As a programmer, i've been trying to think of a way I can use the quantity theory of money (mv = py) to adjust the difficulty target, so when the economy demands more coins (more are created) and when it needs less (less are created).
Just curious what you guys think?
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