FreiCoin (FRC) discussion (was FreiCoin (FRC) for TRC, PPC, LTC or BTC)

[Bicknellski]

http://www.freicoin.org/list-of-exchanges-supporting-freicoin-t225.html <-- Exchange List
http://www.freicoin.org/mining-pools-list-for-frc-t251.html <-- Pool List
http://1.cr.rs/ <-- Block Explorer
http://www.freicoin.org/market-f21.html <-- FRC Marketplace

[Bicknellski]

FRC topped out at nearly 2 TH/s today... wow! http://www.freicoin.org/massive-hasrate-over-at-coin-on-tron-516-gh-t311.html#p3069

[StarenseN]

Interesting

[nik1lin]

why my balance FRC on my wallet gets smalle??

[jtimon]

why my balance FRC on my wallet gets smalle??

http://en.wikipedia.org/wiki/Demurrage_currency
http://freico.in/

[herzmeister]

why my balance FRC on my wallet gets smalle??

http://en.wikipedia.org/wiki/Demurrage_currency
http://freico.in/

yup, you should have spent them. On BlackJack and hookers. 

[jtimon]

yup, you should have spent them. On BlackJack and hookers. 

You got it wrong. Is interest and not demurrage what's against investing in the long run.
Interest creates the so called "time preference".

Here's this same thing said with some poetry:

http://www.youtube.com/watch?v=l9URm-y_ASQ

[Sunny King]

Freicoin diff now at 148K, profitability drops to 30%. Expect miners abandon ship enmass.

When is the new diff adjustment going to be implemented?

[ehoffman]

Freicoin diff now at 148K, profitability drops to 30%. Expect miners abandon ship enmass.

When is the new diff adjustment going to be implemented?

Was thinking the same thing...  Well, unless the exchange rate increase to compensate, we'll see the same thing that occurred a few months ago, with FRC chain stalled for weeks.  But back then, there were pretty much no exchanges (apart zapto/cryptonit which the double-authentication requirement pushed away a lot of people).  Now you have vircurex and bter.com that trade them easily.

So, maybe within a week or two, the exchange rate will increase.  For sure, they are now undervalued.

[roy7]

Freicoin diff now at 148K, profitability drops to 30%. Expect miners abandon ship enmass.

When is the new diff adjustment going to be implemented?

https://bitcointalk.org/index.php?topic=202250.0

[J.R. BOB DOBBS]

FRC friedcoin is a funny coin I think it may get jammin' & attain maximum slackdom! (= >> http://freico.in/

[gabbynot]

RIP Freicoin, I hardly knew ye.

[gabbynot]

Okay, maybe i was wrong...little bump in price recently.

Anyone know what's going on?

[maaku]

The utility of freicoin is completely decoupled from its price. I would not expect correlation.

[haightst]

The utility of freicoin is completely decoupled from its price. I would not expect correlation.

still struggling to understand the concept here>>


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


"
Currency[edit]

Main article: Demurrage (currency)
In complementary currencies' field, demurrage is a cost associated with owning or holding currency. It is sometimes referred to as a carrying cost of money. The term was used by Silvio Gesell. It is regarded by some as having a number of advantages over interest: while interest on deposits lead to discount the future and to place immediate gains ahead of long-term concerns, demurrage does the opposite, creating an incentive to invest in assets which lead to longer-term sustainable growth. If the currency is backed by a basket of commodities, demurrage is the holding cost of the basket of commodities, providing monetary stimulation when there is an excess commodities and a restricting the quantity of the currency when there is a shortage in the basket of commodities. In this way it automatically prevents unsustainable economic bubbles before changes in retail sales or GDP can occur. If production of the basket of commodities increases in efficiency, the quantity of the money available for non-commodity production economic activity increases, using up the excess commodities and raising the standard of living in addition to any other technological advances that make more efficient use of the commodities (which does not expand the monetary base). Conversely, if resource constraints begin to reduce the efficiency in the production of the basket of commodities, the monetary base begins to shrink without increasing the purchasing value of the currency, causing economic contraction before a collapse occurs. There is no incentive to hold or spend the currency, but it encourages long term investment and discourages short term investment when compared to a currency that extracts interest payments from the economy over and beyond the increase in the efficient production and transformation of commodities into products and services, which exhibits itself as price inflation.
Gas cylinders[edit] "

...more to come~~~

[maaku]

Real investment. Contrary to loose terminology prevalent on these forums, holding currency is not investment in the economic sense, it is speculation. Investment is the purchase of goods not for consumption but for future production. For example, building a factory, hiring engineers and designers to build a product, training a workforce to make them more productive, etc. These actions grow the economy.

Currency speculation, on the other hand, impedes the larger economy by tying up resources which would otherwise be spent on consumption or invested in real projects. This unearned rent impedes real economic growth, acting as a parasitic tax on the economy.

The ~5% annual demurrage of Freicoin is chosen specifically to counteract this effect, such that speculators are hit with a penalty exactly equal to the unearned rent they extract from the rest of society, driving them to find more productive uses for their money.

EDIT: Demurrage is kinda like copyleft. Inflation currency is evil because it structures our economy and by extension our society to be debt-based in an arrangement that only benefits the bankers (e.g. mortgage and national debt interest payments being a transfer of wealth from the little guy to Wall St.). Just how Stallman created GPL to protect users, demurrage currency protects the little guy buy gaining the macroeconomic benefits of inflationary currency in such a way that improves society without favoring bankers (or anyone else).

[haightst]

Real investment. Contrary to loose terminology prevalent on these forums, holding currency is not investment in the economic sense, it is speculation. Investment is the purchase of goods not for consumption but for future production. For example, building a factory, hiring engineers and designers to build a product, training a workforce to make them more productive, etc. These actions grow the economy.

Currency speculation, on the other hand, impedes the larger economy by tying up resources which would otherwise be spent on consumption or invested in real projects. This unearned rent impedes real economic growth, acting as a parasitic tax on the economy.

The ~5% annual demurrage of Freicoin is chosen specifically to counteract this effect, such that speculators are hit with a penalty exactly equal to the unearned rent they extract from the rest of society, driving them to find more productive uses for their money.

EDIT: Demurrage is kinda like copyleft. Inflation currency is evil because it structures our economy and by extension our society to be debt-based in an arrangement that only benefits the bankers (e.g. mortgage and national debt interest payments being a transfer of wealth from the little guy to Wall St.). Just how Stallman created GPL to protect users, demurrage currency protects the little guy buy gaining the macroeconomic benefits of inflationary currency in such a way that improves society without favoring bankers (or anyone else).

i'm not doubting that your intentions are good. I personally speculate on swings of a few days so the one year 5% thing would not matter in my case..as well as most traders. As far as the big bankers the main problem I see is lack of transparencey. The good ole boys club reigns supreme in the financial systems i'm familiar with. BTC land is ridden with this same mentality if not anything even more secret and guarded then the current United States capitalist system..=( my hope is FRC and other alternative coins may have a chance to make a real change in the world as more people get involved!

[Bicknellski]

How is your Freicoin going?

Personally I recently enjoyed the bump in price and the fluidity of the difficulty filter.

All we need now is more http://fre.icoin.ch/ people auctioning stuff off here so I can buy things with my FRC.

[dego]

Price and marketcap of FRC is far below what it could be. But media coverage is great. And once people really start to use it in local economies, it will gain value quickly.

[BTC5OOO]

Price and marketcap of FRC is far below what it could be. But media coverage is great. And once people really start to use it in local economies, it will gain value quickly.

::::FRC/FreiCoin::::> i'm lovin' this coin! ~ break .OOO2zZz and we will fly!!! =)

https://www.cryptsy.com/markets/view/39