This is gonna be a fascinating experiment. Which will win out? Demurrage velocity or fiscal inflation? Freicoins is to cash what Bitcoins is to gold.
Freicoin is an implementation of Bitcoin which loses approximately 5% of its value per year. The destroyed money simply vanishes, being permanently taken out of circulation. However to keep prices stable an equal-valued batch of freshly minted coins is created and distributed to the diligent accountants (the “miners”?) who maintain at their own cost the global ledger of electronic transactions. The economics of mining are such that most of this is spent on the real capital required to secure the network, thus forcing the newly minted coins to flow back into the economy. The subsidized mining incentive drives participation, making it very difficult, both technologically and economically, to manipulate Freicoin as has been done with the legacy systems of money in use today.
http://freico.in/about/
Freicoin: a P2P digital currency delivering freedom from usury
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MachineGhost
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Freicoin: a P2P digital currency delivering freedom from usury
Last edited by MachineGhost on Tue Jan 08, 2013 7:15 pm, edited 1 time in total.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!