DetroitCoin

[domob]

Freicoin has 80% seigniorage towards a central foundation. It makes for an interesting demurrage test case, but any city should be using a coin that's 100% peer to peer. That means equal rules for all participants, not an unelected cabal spending most of the coins on their own pet charities.

I thought this was Devcoin.  Does Freicoin also have this?

[Operatr]

Bitcoin has a unique property in it is very easy to generate a macro-economy as demonstrated by the 20 or so new blockchains around now since only about 2-3 months ago all interacting with each other in trade. That got me thinking about the future of cryptographic digital currency in a similar fashion to postulating "What if Detroit switched to Bitcoin?". Obviously the city is now a dead husk of its former self that has finally thrown in the towel, crushed under the weight of crooked politics and banking cartels, it would have nothing to lose by acting out in pure defiance to the FED with such a move.

Thinking further into the future, could we exist in a world someday where each country, city, and possibly even large business entities of sufficient market cap trade in their own unique currencies?

Why would you want to segment currencies like that? It is much more convinient and useful to have a single currency used across wide areas.

That is true and for convenience's sake would be best, though it may become that way naturally, I only posit this as a possible scenario. More the point was simply that bitcoin and its many offshoots won't be decided by the borders of countries, but respective industries and societies. We really don't know what happens next, only that it will probably be spectacular.

[elor70]

still waitin' for new york coin

[Explodicle]

Freicoin has 80% seigniorage towards a central foundation. It makes for an interesting demurrage test case, but any city should be using a coin that's 100% peer to peer. That means equal rules for all participants, not an unelected cabal spending most of the coins on their own pet charities.

I thought this was Devcoin.  Does Freicoin also have this?

Yes. They don't advertise this feature very prominently, but they're going to spend 80% of the initial supply on charity. All other participants are allowed to compete over the remaining 20% as mining subsidy. They added this right before the official launch, but so far they haven't decided which charities will receive it.

So... should the economy of Detroit depend on the security of a single cold wallet, or the authority of an unelected private foundation? 

[pedrog]

still waitin' for new york coin

New York Coin, you can only sell/buy up to 0.5 NYC each time!

[Kinnardian]

Glad to see all of this discussion. Is anyone in Detroit? Will anyone be there this fall?