Bitcoin vs ideal coin

[bitminerinthecloud]

The money to be considered "coin" should have 3 qualities:

* Be considered an instrument of change:

a) People with bitcoin can exchange it for products/ services.

b) People with services/ products can exchange it for bitcoins

* Be considered a means of payment:

If there were no coin, one would have to have two matches. (if I sell a service, I would need the other one to have a product I wanted and the other way around). If a coin is accepted as a means of payment, the seller would be satisfied by receiveing the payment. The acceptance of the coin is based in trust and habits. The coin has the quality of liberating debts.

* Be considered a means of Value Reserve:

You can store it now and spend it later. People will store money with intentions of transaction, safety and speculation.

I think Bitcoin has the qualities to be considered coin.

A coin would be more usefull for society if its value is stable, as people could predict investments and offer products and services. So, it is a question of more people using bitcoin.

[adamselene]

A digital currency backed by gold. Now where have I heard that one before..

Also, backed by gold and unlimited supply?

[johnyj]

It seems the ideal coin OP described is exactly fiat money, it is a promise that backed by assets from governments, then just use them, no need to do anything

[BombaUcigasa]

OP, you might want to think a bit before telling others your fail ideas:
- contract, each coin is a unique - read about fungibility, you don't want each coin special, each coin should be like any other coin, otherwise this is not money, so not a real coin
- No mining needed, Proof of Stake used - bullshit has zero value, you need actual work to secure a coin like Bitcoin, not a cartel of owners profiting at infinitude
- Unlimited - this makes the value drop constantly against other better things... like Bitcoin
- Nobody is rewarded since coins are free - good luck with that, no rewards, no actual value, no value flow into coin
- Promots usage in commerce - how? by making each coin differently valued, with only arbitrary wishes of an oligopoly and making it drop in value even below zero value?
- No volatility - zero value forever is clearly no volatility not even difficulty based reward coins have this (each coin costs the same to make)
- No possibility of tracking, like dollar bills - how do you track dollar bills? or bitcoin?
- Distributed blockchain, no limit on transactions per second - as opposed to what? which coin has centralized blockchain and limits to transactions per second?
- No need to download 100% of blockchain - like bitcoin?
- no mining needed keeps the network decentralized - you force by law that users obey this rule or what?

OP, your ideas are bad and you should feel bad. What you just described is worse than Bitcoin in each aspect presented, it is actually everything that Bitcoin solves, yet you present your version as superior. This is of such intellectual denigration that you should visit your local psychiatric ward and have your head examined before your forum posting licence is returned.

[reymarkperry]

Bitcoin is definitely far from being an ideal coin. However, it doesn’t mean that it’s not going to be a good alternative currency. In fact, many people are already considering this cryptocurrency as real money.