We must first assume that low trade volumes are bad. If there's no work to be done, you've got low trade going on. If there's a lot of work to be done, you'll have more trade. Lighting a wick on someone's wallet every time they stop spending is an artificial way to keep an economy moving. People should have the freedom to spend their cash as they please. There's nothing wrong with holding; they'll spend it when they deem it appropriate.
I believe it's time to break free from the spell that is fiat; we're so used to our money disappearing in smoke if we wait too long to spend it (as a cause of inflation.) I believe a deflating currency in times which work is becoming more and more scarce is a god send.
Topic: This idea might save Bitcoin low trade volums - page 2. (Read 2004 times)
As you know , trading with bitcoins (actually buying something ) is an issue.
Most users are "sitting" on their coins , waiting for the value to go up and down.
I don't think many people are actually buying stuff with it.
An idea that might make a change is "negative interest". If you don't use your coins for for let's say a few weeks , you pay a "tax" for not using your coins and the system automatically reduces a certain amount of coins from your account.
The reduced value goes back to the "system" and now new people can mine them as a new coin.
Pros :
1) People will trade their bitcoins and stop accumulating them !
2) The trade volumes will get huge
3) High trading volumes will encourage more and more people to use bitcoins so the amount of bitcoin users will get dramatically higher.
Cons:
1) People can move money from wallet to wallet so their "old" coins won't pay tax. Need to think about technological solution for that
2) People don't like paying taxes ....
Thoughts ?
Most users are "sitting" on their coins , waiting for the value to go up and down.
I don't think many people are actually buying stuff with it.
An idea that might make a change is "negative interest". If you don't use your coins for for let's say a few weeks , you pay a "tax" for not using your coins and the system automatically reduces a certain amount of coins from your account.
The reduced value goes back to the "system" and now new people can mine them as a new coin.
Pros :
1) People will trade their bitcoins and stop accumulating them !
2) The trade volumes will get huge
3) High trading volumes will encourage more and more people to use bitcoins so the amount of bitcoin users will get dramatically higher.
Cons:
1) People can move money from wallet to wallet so their "old" coins won't pay tax. Need to think about technological solution for that
2) People don't like paying taxes ....
Thoughts ?
Never work because there are any number of ways to "sell things" or trade with yourself directly or via a friend. Its just too simple to do to even contemplating ways of stopping it. And besides, taking bitcoins off people is akin to EU banks taking money out of customers' bank accounts. One of bitcoin central tenets is "people control their own money" to do with as they please. If that includes hoarding (i.e. saving), so be it. People have a right to save, a right to spend, a right to give away, to do what the heck what they want with their coins.
People won't sit on their coins forever. As more and more services take bitcoins (this week piratebay, porn, dating sites + many others I have missed), and the volatility decreases, people will slowly start to spend and when that happens, there is no going back.
Rome wasn't built in a day. The progress of bitcoin in 3-4 years has been staggering. The progress in the next 18 months will be many times as great.
Freicoin.
legendary
Activity: 1862
Merit: 1011
Reverse engineer from time to time
Fast forward a little and this will inflate bitcoin, as there will always be coins that will be lost/deleted, thus the 21 million coins cap will never be reached.
As you know , trading with bitcoins (actually buying something ) is an issue.
Most users are "sitting" on their coins , waiting for the value to go up and down.
I don't think many people are actually buying stuff with it.
An idea that might make a change is "negative interest". If you don't use your coins for for let's say a few weeks , you pay a "tax" for not using your coins and the system automatically reduces a certain amount of coins from your account.
The reduced value goes back to the "system" and now new people can mine them as a new coin.
Pros :
1) People will trade their bitcoins and stop accumulating them !
2) The trade volumes will get huge
3) High trading volumes will encourage more and more people to use bitcoins so the amount of bitcoin users will get dramatically higher.
Cons:
1) People can move money from wallet to wallet so their "old" coins won't pay tax. Need to think about technological solution for that
2) People don't like paying taxes ....
Thoughts ?
Most users are "sitting" on their coins , waiting for the value to go up and down.
I don't think many people are actually buying stuff with it.
An idea that might make a change is "negative interest". If you don't use your coins for for let's say a few weeks , you pay a "tax" for not using your coins and the system automatically reduces a certain amount of coins from your account.
The reduced value goes back to the "system" and now new people can mine them as a new coin.
Pros :
1) People will trade their bitcoins and stop accumulating them !
2) The trade volumes will get huge
3) High trading volumes will encourage more and more people to use bitcoins so the amount of bitcoin users will get dramatically higher.
Cons:
1) People can move money from wallet to wallet so their "old" coins won't pay tax. Need to think about technological solution for that
2) People don't like paying taxes ....
Thoughts ?
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