Bitcoin Forum

What's the point of Freicoin?
You just lose money by getting it!  :o

Lol, never even heard of it.

There are also several alt coins that you would only lose money on.
Terracoin
IXCoin
etc...

To stop from holding the currency, friecoin has a demurrage, which means it decreases in value as you hold it

All these alt coins are just slightly different versions of the original bitcoin client.  Most of them are also just made so the creator can try to cash in on some bitcoin if an exchange picks it up.

FRC has been here way before the scam coins first started, circa FTC.

FRC is pretty innovative and an actual legitimate alt coin. though I don't agree with the economics behind it because there isn't enough infrastructure existing to support a demurrage model

Most alt-coins are scams.... :-[

There is no point, you will just lose money :P

That is the point. This is a revolutionary feature that makes Freicoin much better than Bitcoin. Or so the developers apparently believe for some unfathomable reason. They seem surprised that nobody actually wants it. ::)

Haha.  Nice QR Code by the way; does it go to your wallet, and how did you make it?  :)

It's the honest altcoin, unlike other altcoins that don't tell you that you lose money while you are holding them :p

Hey, cool name!

Burdy, Birdy?
I'm Fishy!

This may sound fishy, but I have no affiliation to any of them xD

We are 1 pony away from being a petting zoo!

It is based on this economic concept:

http://en.wikipedia.org/wiki/Freigeld

Yes it's based on giving people more initiative to spend money instead of hoarding.
I think that's an awful concept, just like our nations "needing economic growth" all the time.

We will need to figure out a way to live a good life without a big growth soon or we will ruin our planet and ourselves.
Things will still be bought, because people need or want them, no need to let them buy more in fear their money will be worthless soon.
It also won't help decreasing the difference between poor and rich, the rich will just buy stuff that won't lose value.

Coindesk.com Interviewed the founder of Freicoin and he discussed his motivation and his goals forthecurrency. The article is here : http://www.coindesk.com/freicoins-attempt-to-free-the-economy/

Yes, it goes to the address in my signature. I used qrencode and GIMP. QR codes use error correction, so you can just draw anything you want on top of it and it'll still work as long as you don't cover too many symbols.

Whoa, nice. Never knew you could actually draw colors on it and it still works.

In my opinion, Freicoin would only gain widespread use if it were the currency of a country whose government could force the people to use it, or if for some other reason, there were no other alternative available without demurrage. But as long as people have the option of choosing Bitcoin, I suspect that most people will, due to the lack of demurrage. (Not to mention the other benefits of bitcoin, such as the larger number of merchants currently that accept Bitcoin vs. Freicoin, etc.). I do think that Freicoin is an interesting concept though, and might appeal to some people who agree with its principles.

If you don't understand currencies in general (concepts like inflation, deflation and demurrage), you cannot understand the approach taken by freicoin, see: http://www.slideshare.net/KyleDrake/bitcoin-the-cyberpunk-cryptocurrency (around slide #70).