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Freicoin - easy-to-use demurrage currency

freico.in

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Re: Freicoin - easy-to-use demurrage currency

#11

Post by mistercow »

Ygg2 wrote: post #5
jstanley wrote: post #2

Who does the demurrage fee go to? I couldn't find any information about this on their site. If it is just recirculated through re-mining or something, great (though I don't know how that would work). If it goes to the creators of freicoin then it is a blatant scam. I don't suppose it does, but it's suspicious that they don't mention where the money goes.

I don't think it goes anywhere. In theory Freigeld should simply decay into nothing (i.e. tax is collected by government who would depending on financial situation either print more or destroy existing). However I'm unsure where would in Freicoin decay go. Also what makes me really suspect of it is the fact that Freicoin foundation centralizes the whole thing, so it's a bit pointless. I mean, why have an centralized…

It's not centralized (according to their site). The value of held money just decays. The money doesn't go anywhere; it just disappears.

Re: Freicoin - easy-to-use demurrage currency

#12

Post by JonnyB »

Ygg2 wrote: post #5
jstanley wrote: post #2

Who does the demurrage fee go to? I couldn't find any information about this on their site. If it is just recirculated through re-mining or something, great (though I don't know how that would work). If it goes to the creators of freicoin then it is a blatant scam. I don't suppose it does, but it's suspicious that they don't mention where the money goes.

I don't think it goes anywhere. In theory Freigeld should simply decay into nothing (i.e. tax is collected by government who would depending on financial situation either print more or destroy existing). However I'm unsure where would in Freicoin decay go. Also what makes me really suspect of it is the fact that Freicoin foundation centralizes the whole thing, so it's a bit pointless. I mean, why have an centralized…

Yap, you should fork it and make your own :)

Re: Freicoin - easy-to-use demurrage currency

#13

Post by kiba »

One does not simply invent a currency to solve a percevied problem in our economic system. A currency must also provide compelling economic reasons to actors for adoption. That is, what is in it for me to use freicoin?

I don't see any reason to give money, buy, or sell, or do anything with freicoin. To me, the fact that freicoin decays when not used is a bug, not feature.

Re: Freicoin - easy-to-use demurrage currency

#14

Post by nodata »

kiba wrote: post #13

One does not simply invent a currency to solve a percevied problem in our economic system. A currency must also provide compelling economic reasons to actors for adoption. That is, what is in it for me to use freicoin? I don't see any reason to give money, buy, or sell, or do anything with freicoin. To me, the fact that freicoin decays when not used is a bug, not feature.

Encouraging currency to be used/passed around more is not a bug for me.

Might interest you: http://www.lietaer.com/2010/03/the-worgl-experiment/

Re: Freicoin - easy-to-use demurrage currency

#15

Post by lolcraft »

kiba wrote: post #13

One does not simply invent a currency to solve a percevied problem in our economic system. A currency must also provide compelling economic reasons to actors for adoption. That is, what is in it for me to use freicoin? I don't see any reason to give money, buy, or sell, or do anything with freicoin. To me, the fact that freicoin decays when not used is a bug, not feature.

Completely agree. FreiCoin: when programmers do not understand what Nash Equilibrium means. Nor the Tragedy of the Commons.

They made a great attempt, but sometimes one's best try is just not enough.

Re: Freicoin - easy-to-use demurrage currency

#16

Post by [deleted] »

kiba wrote: post #13

One does not simply invent a currency to solve a percevied problem in our economic system. A currency must also provide compelling economic reasons to actors for adoption. That is, what is in it for me to use freicoin? I don't see any reason to give money, buy, or sell, or do anything with freicoin. To me, the fact that freicoin decays when not used is a bug, not feature.

[deleted]

Re: Freicoin - easy-to-use demurrage currency

#19

Post by Ygg2 »

mistercow wrote: post #11
Ygg2 wrote: post #5

Earlier quoted context omitted.

I don't think it goes anywhere. In theory Freigeld should simply decay into nothing (i.e. tax is collected by government who would depending on financial situation either print more or destroy existing). However I'm unsure where would in Freicoin decay go. Also what makes me really suspect of it is the fact that Freicoin foundation centralizes the whole thing, so it's a bit pointless. I mean, why have an centralized…

It's not centralized (according to their site). The value of held money just decays. The money doesn't go anywhere; it just disappears.

    >  Q: You said that Freicoin is decentralized. But the   Foundation makes it centralized!
    > A: You are right. But we have no other solution. Initial coins should be distributed to the society.
From FAQ, they say its centralized.
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