The Next Step for Digital Currencies

username18333

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Knowledge could but approximate existence.

Quote from: NUFCrichard on May 27, 2015, 03:58:03 AM

Quote from: countryfree on May 26, 2015, 03:44:40 PM

Quote from: john maynard keynes on May 26, 2015, 10:36:19 AM

“The question is how make the issuance of and access to money egalitarian on the one hand.”

What about work? What about merit? What about talent? Sorry, but issuance and access to money shall never be egalitarian. No way!

Especially as some people will lose, spend or give away their fair share and end up with nothing.
They will then complain that the system isn't fair as some who saved, stole or somehow acquired coins would be rich in the new world, just as they are under the current system.

Quote from: BobK71 on May 18, 2015, 12:52:07 PM

Quote from: username18333 on May 17, 2015, 10:22:27 PM

Quote from: BobK71 on May 17, 2015, 01:45:04 PM

Not sure how G.E. works, but I would love to have a system where anyone can issue money and the markets decide which monies survive.

The G.E. government certifies coins as "Great Empire Coin (GEC)" through a network that allows one to spend more coins than they hold. This is the G.E. government's equivalent of empowering a central bank to purchase more bonds than the bank's preexisting cash holdings would permit.

What system is in place to prevent individuals from issuing/spending more money than they earn (in the past or future?)

Quote from: username18333 on May 18, 2015, 04:27:56 PM

Quote from: BobK71 on May 18, 2015, 12:52:07 PM

What system is in place to prevent individuals from issuing/spending more money than they earn (in the past or future?)

Quote from: Judges 17:6, 21:25 (Darby)

In those days there was no king in Israel; every man did what was right in his own eyes.

username18333

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Activity: 378

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Knowledge could but approximate existence.

Quote from: alch1mista on May 26, 2015, 10:39:54 AM

This [h]as always been contemplated as a possibility by a lot of people over time, yet nobody has found a way to have a decentralized, egalitarian model for issuing and distributing cryptocoins.

Quote from: username18333 on May 27, 2015, 05:37:44 PM

Quote from: username18333 on May 15, 2015, 05:35:12 PM

Quote from: username18333 on May 09, 2015, 05:10:49 AM

Code:

sendfreetransactions=1

Code:

sendtoaddress [address] [balance + amount]

Your “poor” could appropriate a greater portion of the (monetary) value of the GEC economy to themselves.

Erdogan

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Quote from: cellard on May 30, 2015, 07:27:12 PM

Quote from: odolvlobo on May 30, 2015, 05:04:20 PM

Quote from: V for Varoufakis on May 30, 2015, 03:22:38 PM

Fiat is better if it is printed by the equation M = (1/V)*P*Y

Unfortunately, V, P, and Y are difficult to determine.

Those get determined by Ben Bernanke and friends, thats exactly why Bitcoin is better.

Appearantly, it is also difficult to determine M. We have a single equation with four unknowns. Not solvable.

cellard

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Quote from: odolvlobo on May 30, 2015, 05:04:20 PM

Quote from: V for Varoufakis on May 30, 2015, 03:22:38 PM

Fiat is better if it is printed by the equation M = (1/V)*P*Y

Unfortunately, V, P, and Y are difficult to determine.

Those get determined by Ben Bernanke and friends, thats exactly why Bitcoin is better.

odolvlobo

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Activity: 4438

Merit: 3387

Quote from: V for Varoufakis on May 30, 2015, 03:22:38 PM

Fiat is better if it is printed by the equation M = (1/V)*P*Y

Unfortunately, V, P, and Y are difficult to determine.

V for Varoufakis

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Activity: 261

Merit: 250

Quote from: AtheistAKASaneBrain on May 30, 2015, 09:56:32 AM

Quote from: Q7 on May 30, 2015, 03:23:49 AM

I'm not sure whether it exists but in a real world, does equal rights and opportunities is really possible? Fact is there will always be loopholes and a way for a person to be more well off compared to the other. So no matter how perfect the system is, it will cease to exist if there is no way to reward and give a bigger piece of the cake for those who manages to outperform the others.

At least with BTC we know the fundamentals of the game can't be rigged (no one can modify the supply and create infinite money for them at will). That alone defeats fiat as superior currency.

Fiat is better if it is printed by the equation M = (1/V)*P*Y

AtheistAKASaneBrain

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Quote from: Q7 on May 30, 2015, 03:23:49 AM

I'm not sure whether it exists but in a real world, does equal rights and opportunities is really possible? Fact is there will always be loopholes and a way for a person to be more well off compared to the other. So no matter how perfect the system is, it will cease to exist if there is no way to reward and give a bigger piece of the cake for those who manages to outperform the others.

At least with BTC we know the fundamentals of the game can't be rigged (no one can modify the supply and create infinite money for them at will). That alone defeats fiat as superior currency.

Q7

sr. member

Activity: 448

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I'm not sure whether it exists but in a real world, does equal rights and opportunities is really possible? Fact is there will always be loopholes and a way for a person to be more well off compared to the other. So no matter how perfect the system is, it will cease to exist if there is no way to reward and give a bigger piece of the cake for those who manages to outperform the others.

Possum577

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Activity: 434

Merit: 250

Loose lips sink sigs!

The next step for digital currencies is adoption - it has to be adoption. Without increased adoption future enhancements, access, wallet types, security features, etc. are meaningless! Press, word of mouth, big sponsors/advocates, education - all of this is needed to enable the broad public to be more comfortable with bitcoin.

manselr

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Quote from: iram91445 on May 29, 2015, 11:49:39 AM

Quote from: thejaytiesto on May 29, 2015, 11:10:33 AM

It's often argued by some people how "we need to find the next step beyond Bitcoin". Yet, they never either deliver solid arguments of why we need to go beyond Bitcoin, and how, when the blockchain does everything we need and what it doesn't, it' already being worked on to do it in the future.

well bitcoin is the best crypto i guess, though it could have bigger block size and average block time could be reduced to at least 5 minutes

And that's exactly what's being developed as we speak. Confirmation time is not really important, I don't see people complaining that credit cards take 180 days of confirmation time, they just assume they payment went through. What we need if we want BTC to be a success is to be able to process as many payments as all the big electronic payment players in the game, this means we need a bigger block size, way bigger than 1MB, eventually bigger than 20MB.

iram91445

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★YoBit.Net★ 200+ Coins Exchange & Dice

Quote from: thejaytiesto on May 29, 2015, 11:10:33 AM

It's often argued by some people how "we need to find the next step beyond Bitcoin". Yet, they never either deliver solid arguments of why we need to go beyond Bitcoin, and how, when the blockchain does everything we need and what it doesn't, it' already being worked on to do it in the future.

well bitcoin is the best crypto i guess, though it could have bigger block size and average block time could be reduced to at least 5 minutes

thejaytiesto

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It's often argued by some people how "we need to find the next step beyond Bitcoin". Yet, they never either deliver solid arguments of why we need to go beyond Bitcoin, and how, when the blockchain does everything we need and what it doesn't, it' already being worked on to do it in the future.

qiwoman2

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Oikos.cash | Decentralized Finance on Tron

With such a plethora of coins there should be different cryptocurrencies offering and diverging in different paths. This is what makes them so attractive to the general public, that we can choose different digital currencies for different purposes..

cocoricos

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Quote from: Amph on May 27, 2015, 02:57:40 AM

Quote from: odolvlobo on May 26, 2015, 12:01:38 PM

The least egalitarian way to distribute bitcoins is to give them away. The most is to trade an equal amount of value for them, which is how it is done now.

still someone can fake his account(having many one) and receive much more than he should get originally, for a real distribution checking ip alone isn't enough you need something like a photo or a video of the future owner of those distrubuted coins

Maybe a photo of a fingerprint.

NUFCrichard

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Quote from: countryfree on May 26, 2015, 03:44:40 PM

Quote from: john maynard keynes on May 26, 2015, 10:36:19 AM

“The question is how make the issuance of and access to money egalitarian on the one hand.”

What about work? What about merit? What about talent? Sorry, but issuance and access to money shall never be egalitarian. No way!

Especially as some people will lose, spend or give away their fair share and end up with nothing.
They will then complain that the system isn't fair as some who saved, stole or somehow acquired coins would be rich in the new world, just as they are under the current system.

Amph

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Activity: 3248

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Quote from: odolvlobo on May 26, 2015, 12:01:38 PM

The least egalitarian way to distribute bitcoins is to give them away. The most is to trade an equal amount of value for them, which is how it is done now.

still someone can fake his account(having many one) and receive much more than he should get originally, for a real distribution checking ip alone isn't enough you need something like a photo or a video of the future owner of those distrubuted coins

mrhelpful

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Activity: 1456

Merit: 1002

Someone pointed out something similar on another thread for what bitcoin has to go through.

Like gaining 1% of any market will rise its self worth.

https://bitcointalk.org/index.php?topic=1066414.new#new

Pab

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Activity: 1862

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We are welcoming new development
IdealReseerve soon on exchange

https://www.idealreserve.info/
half second transaction,inflation deflation control algorithm,kind of economy with his own value priced in usa dollar

and kroin system,mining through searching

http://www.kroin.net/

johnyj

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Activity: 1988

Merit: 1012

Beyond Imagination

The dilemma is:

If you limit the total supply, it becomes a "to be the early adopter" gold rush, the coin becomes very scarce and highly speculative

If you do not limit the total supply(keep each block coin generation at 50 btc forever, or have an annual increase of 3% like Friedman suggested), then it will have endless supply, its value will be very stable and boring, thus almost no one will care about it (The expected gain of using bitcoin over fiat currency will be so small that it does not even worth the effort)

So, to find its ground in already crowded monetary/payment system, bitcoin selected the deflative end of the spectrum, which is a huge success so far

countryfree

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Your country may be your worst enemy

Quote from: john maynard keynes on May 26, 2015, 10:36:19 AM

“The question is how make the issuance of and access to money egalitarian on the one hand.”

What about work? What about merit? What about talent? Sorry, but issuance and access to money shall never be egalitarian. No way!

odolvlobo

legendary

Activity: 4438

Merit: 3387

The least egalitarian way to distribute bitcoins is to give them away. The most is to trade an equal amount of value for them, which is how it is done now.

alch1mista

sr. member

Activity: 455

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blockchain longa, vita brevis

Quote from: john maynard keynes on May 26, 2015, 10:36:19 AM

"by Charles Eisenstein"

10th September 2014

“With these learnings from the Bitcoin experiment, I would like to propose a new model for digital currency. The question is how make the issuance of and access to money egalitarian on the one hand, yet also regulate the money supply in an organic, decentralized way.”

https://blog.p2pfoundation.net/the-next-step-for-digital-currencies/2014/09/10

This as always been contemplated as a possibility by a lot of people over time,
yet nobody has found a way to have a decentralized, egalitarian model for issuing and distributing cryptocoins.

Maybe proof of ID? But that won't be decentralized at all.

The problem is much bigger than what it seems, and the article does not really say anything new.

john maynard keynes

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"by Charles Eisenstein"

10th September 2014

“With these learnings from the Bitcoin experiment, I would like to propose a new model for digital currency. The question is how make the issuance of and access to money egalitarian on the one hand, yet also regulate the money supply in an organic, decentralized way.”

https://blog.p2pfoundation.net/the-next-step-for-digital-currencies/2014/09/10

Topic: The Next Step for Digital Currencies (Read 1545 times)