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Author Topic: Call for participation in "dynamic monetary base coin"  (Read 606 times)
halvoraarud
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December 11, 2013, 08:44:13 PM
Last edit: December 20, 2013, 12:23:52 AM by halvoraarud
 #1

Hi,

I'm looking into the possibility of creating a coin based on a completely community-steered monetary base.
I wrote a whitepaper that can be read here:

https://docs.google.com/document/d/1302Fb5BpgTRS2P-snN4ys5JR3l8QU2QhpncldAYaXfM/edit?usp=sharing

I do it for fun now, but looking for more  people to join with the following background
* People with knowledge of finance and macro economics.
* Technical persons, C/C++, mathematics
* Web designers, artists.

This is in its early drafting stages, so if you have any wise ideas, please give send me a mail and we can discuss it further.

best regards
HA
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December 11, 2013, 10:58:07 PM
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Why don't you simplify this. And create the exact digital copies of major currencies.
halvoraarud
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December 20, 2013, 12:21:48 AM
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Why don't you simplify this. And create the exact digital copies of major currencies.

Obviously you didn't see the difference.  This design is not inflationary in real terms, only in nominal terms. Big difference! 

Just to give you an example.  When I first heard about crypto-currencies, I wanted to buy some.  Looking at the price of Bitcoin, I felt it was expensive.  I would only get a fraction of a coin, so I bought LTC, as they were much cheaper.  Later I bought some Bitcoins too.

This irrational behavior is present in most people.  That is why I believe that holding should increase, instead of price, when demand increases.  The price-level to set is determined by the consensus of miners. In this design, bitcoin today would perhaps cost 1 USD per coin, while you would have 800 times as many as when you bought them.

It is just a different design, but I believe it has some merits.

HA
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December 20, 2013, 02:59:12 AM
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This belongs in the altcoin section.
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