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Freicoin - easy-to-use demurrage currency

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Re: Freicoin - easy-to-use demurrage currency

#21

Post by Ygg2 »

JonnyB wrote: post #12
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…

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

I would if it would serve any practical purpose. Freigeld needs to be adjusted (by printing/removing money) to maintain 0% inflation. To me that implies some form of centralization.

Re: Freicoin - easy-to-use demurrage currency

#24

Post by kiba »

nodata wrote: post #14
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/

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

I never doubt your goal, just the ability of your currency to achieve what you are trying to get.

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

I have no reason to doubt the story as told there(other than my theoretical complaint), but I am not a historian or economist.

Re: Freicoin - easy-to-use demurrage currency

#26

Post by chrisvineup »

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.

Not globally, but to solve local economic problems people are making real headway. Local currencies that can only be spent with local businesses are solving a problem right?

Re: Freicoin - easy-to-use demurrage currency

#28

Post by aethertap »

nodata wrote: post #14
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/

I can't speak for others, but in my case, if I came to possess some of this currency I would immediately seek a way to convert it into something that would not decay as I kept it.

I think that saving money for both unexpected problems and future investments is an important part of social responsibility, and I would not adopt a currency that was deliberately designed to make saving difficult unless it was forced on me. Even then, I'd probably try to turn it into some kind of commodity that I could sell again later in order to dodge the losses.

There are a few assertions on the main page that I find interesting, in particular the one about money value vs goods value being "the underlying cause of the boom/bust cycle." I don't have time to read the linked book about it, is there a quick version of the explanation?

Re: Freicoin - easy-to-use demurrage currency

#29

Post by n1c »

runn1ng wrote: post #4

Q: What is the Freicoin Foundation? A: The Freicoin Foundation is a non-profit organization, aiming to support sustainability and biodiversity by integrating Freicoin into economical relations. 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. Q: Why can't you just give these coins t…

My gut tells me that somehow there is room for a "everyone gets N" style ~~virtual currency~~. Like you prove your identity and get the same amount that everyone else gets (scrubbed on transfer) because the whole early-adopters-win thing is sucky.

But this doesn't look like the answer.

Re: Freicoin - easy-to-use demurrage currency

#30

Post by wcoenen »

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.

> That is, what is in it for me to use freicoin?

Perhaps the advantages of bitcoin but without the instability.

If bitcoin continues to go through boom and bust cycles that change its value by orders of magnitude, then ironically an alternative with demurrage might prove to be a better store of value. You might lose some of your savings, but at least it'll be predictable.

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