Bitcoin Forum

the more i hoard this coin the more it loses value, where can i buy something with it?

Well right now theres nothing really. Maybe check the Freicoin forums. But overall FRC seems like a really bad idea. Taking away value from people for hoarding doesn't sound like a good idea to me, hence why many havent bothered with it to begin with. Sounds a lot like what a central issuer of fiat would do. And who knows if a practical use for FRC will ever come.

Maybe you could pay a software developer to make a ticker/app which shows how much value you have already lost to this dubious idea.  Like a realtime you have lost "X" clock.

LOL

it is kind of like holding USD, the value just goes down but i have less of this green smelly paper

Every satoshi of which is financing network security and indirectly subsidizing tx fees. In 3 years Freicoin will transfer more of a percentage of the coins to miners, than that of Bitcoin.

Eventually it disappears.

Until there's a BTC/FRC exchange (ehem, profit opportunity for entrepreneurs), it is very difficult that merchants accept them, because they cannot convert them to other currencies, including their local national currency that the NEED to pay some bills.
BTC/FRC would be actually something good to start, but USD/FRC, EUR/FRC and the like would help much too.
Think about how much BTC has grown after services like bitpay. Think about how little it was before the first exchange (technically we have an exchange, but not very useful because it's only tradeable for other small altcoins, excluding bitcoin and namecoin).

5% demerging is like the frog that jumps half the distance of pond in the first jump, then half that distance in the second jump, then half the halved distance in the third... will the frog ever get to the other side of the pond?? technically no 1/2 + 1/4 +1/8.. etc never actually = 1 

So the coin that disappears actually goes to the miners? Interesting idea.

Yes.
Miners will end up receiving a constant subsidy that combined with demurrage will lead to a constant supple when the supply gets to be 20x the constant final miner's subsidy, which is 5 MM frc annually (so the supply converges at 100 MM frc).


But freicoin aren't infinitely divisible (like space in your example), so the satoshi actually disappears when you have less than 0.5 satoshis on an output. That's why colored coins aren't feasible in freicoin without modifications, that is, directly implementing what I sued to call "ripplecoin" (not sure that term is appropriate now that ledger consensus Ripple exists) inside freicoin. Those changes could be merged into bitcoin later to improve the "smart assets" management if there's consensus on the part of the devs.

The coin that "ROBS" from everyone to give to the "MINERS".

Interesting version of Robin Hood.

The way I see it, Freicoin just pays for its security (miners) more with demurrage fees than with transaction fees.
"Everyone" has to pay for the security of the system (that miners provide) one way or another.

I don't mine freicoins or buy them.

But, I researched them, and the main point of freicoin is so that the cost of capital is 0%.  So, you could lend your money to other people.  (trust issues though).

 Also the demurrage goes back to miners, so if you keep mining you'll still grow.

What happens to 1 Freicoin, can that lose 4.9%?

And if so, what happens when you are left with the smallest unit possible? Does it ever get to 0?

Bitcoin robs from everybody and gives to miners too.

Yes, Freicoin are divisible to 8 decimal numbers just like bitcoin. You pay 4.9% annually, which is (if I remember well) 2 ^ (-20) % per block. It is a base 2 number per block for sure, that's the reason why is not 5% annual: so that calculations can be optimal with computers.


Take into account that there's rounding errors, but basically when 1 satoshi gets to be less than 0.5 satoshis, the satoshi disappears.
Well, maaku must have the correct answer for this, but I'm almost certain that this is how it works.

Does this mean eventually all the satoshi's will disappear and not be rewarded to miners, thus eventually destroying all the coins? (Because you can't reward less than 1 satoshi to the miners, right?)

What miners receive will be constant. Actually, it's not like they directly receive the demurrage fees. We've taken a simpler approach.
Demurrage fees are just destroyed, but after the 100 MM freicoin are out there what will be destroyed will equal what miners receive.
So effectively miners are receiving the demurrage fees, but not literally.

If someone losses his wallet, for example, the coins will end up being "recycled". After a wallet loss, the monetary supply will be temporarily reduced, but it will eventually converge to 100 MM again automatically.
Bitcoin on the other hand doesn't have such a mechanism, so the supply will end up being effectively less than 21 MM. The lost coins will just add value to the rest of the bitcoins, but bitcoin devs aren't concerned with deflation or hoarding.

Buy something at auction. http://fre.icoin.ch/

hey its cool to see this thread is still alive!

i fired up Freicoin QT today and found I actually have 1 FRC remaining so I will look into your suggestions. 

There's a list of services and merchants here:

http://foundation.freicoin.org/#/trade

There's some things at 0.99 frc in joe's auction site:

http://fre.icoin.ch/

If you live in Cape Town you can also get a chilli pepper for 1 FRC:

http://freicoin.freeforums.org/chilli-peppers-for-freicoin-t134.html