It's better than eMunie
Does Dan plan to hold an official Radix ICO? Man this shit has been a long time in the making.
I think there is an ICO coming but they seem to be talking a lot about how you can just buy it on the main net anyways since their supply and demand system will sell you tokens at a reasonable price if there's demand. Which is nice I guess except it will limit the possibilities for appreciation if they're really aggressive about it. I remember years ago they were going to limit how much the algorithm could adjust supply but not sure how it's going to be now.
Yes June 2017 is the target month for the ICO, an [ANN] post will be made by Fuserleer.
The appreciation will be limited by the elastic demand/supply, thus the price stability is a main feature. No pumps/dumps of the Radix token within the client nodes will occur, as one of the features of the Radix network is price stability. Fuserleer ran his economic model against the entire bitcoin blockchain transactions up to Jan. 15, 2015, with a price pegged at $0.10 and as I remember, the highest fluctuation was about ~+/- 6%. This was posted by Fuserleer in one of the eMunie threads here of this forum.
Bottom line is it is possible to have a stable cryptocurrency using the Radix model, and with the direct Debit card, point of sale functionality these imho are the two features that will drive Mass market adoption by the general public.
okie
I don't know how this price stability feature works, but my first thoughts are the exact opposite of yours. I think this is a fatal design error. Having a price stability feature, i suppose, makes the radixtokens stable against a fiat currency like the euro.
So in this way radixtokens mimick the price volatility of a fiat currency. Which is in my opinion contrary to the spirit of cryptocurrencies.
Radixtokens will not be used as a unit of account. So it is missing one of the main features a 'money' needs.
So instead a cup of coffee stays 2 radixtokens a cup of coffee will become 3 radixtokens, because the inflation in the fiat currency is mimicked.
So importing the decreasing purchasing power of fiat currencies into radixtokens is in my opinion a huge mistake.
I am curious what others think.
Cheers.
That's not how it works.
Without getting into a long post a 2AM, the tokens are
not stable against fiat, or pegged or anything like that. Radix tokens are stable relative to themselves,
NOT foreign currency value.
In your example where a coffee costs 2 tokens, lets also assume that $1 USD = 1 RAD. Now if the value of the USD crashed (printed too much), then you'd get more USD for your tokens, but the price of coffee in tokens would still be 2.
The price of the coffee is always 2 in Radix tokens, regardless of what USD, GBD, EUR or any other fake currency is doing.
Interestingly pump and dumps work in the opposite direction. If you want to "pump" the price of Radix tokens against USD, you have to
crash the USD. If you want to "dump" the price of Radix tokens against the USD, you have to
pump the USD.
The Radix price in GBP though would stay the same of course, unless you pumped/dumped GBP too.
