[ANN] Freicoin: demurrage crypto-currency from the Occupy movement (crowdfund)

[galambo]

smoothie: I'd be more likely to question the motivation of a cryptocurrency developer who doesn't ask for money.

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[bulanula]

smoothie: I'd be more likely to question the motivation of a cryptocurrency developer who doesn't ask for money.

Are you saying Gavin has something to hide ?

No way dood !

I actually agree with your statement there.

BTW, what happened to RealCoin guy that was working with Intersango guys and that altchain

I am really curious !

[smoothie]

smoothie: I'd be more likely to question the motivation of a cryptocurrency developer who doesn't ask for money.

Hmm perhaps then you should put your faith into what you wouldnt be more likely to question right?

Oh wait, you wont do that because you dont believe what you just wrote. Please prove me wrong and send the OP your money 

[galambo]

smoothie: I'd be more likely to question the motivation of a cryptocurrency developer who doesn't ask for money.

Hmm perhaps then you should put your faith into what you wouldnt be more likely to question right?

Oh wait, you wont do that because you dont believe what you just wrote. Please prove me wrong and send the OP your money 

I already have.

[smoothie]

smoothie: I'd be more likely to question the motivation of a cryptocurrency developer who doesn't ask for money.

Hmm perhaps then you should put your faith into what you wouldnt be more likely to question right?

Oh wait, you wont do that because you dont believe what you just wrote. Please prove me wrong and send the OP your money 

I already have.

How much?

[maaku]

I already have.

How much?

What he considered to be an appropriate amount. What else matters?


Please, let's try to keep this on topic and without trolling.

[galambo]

smoothie: I'd be more likely to question the motivation of a cryptocurrency developer who doesn't ask for money.

Hmm perhaps then you should put your faith into what you wouldnt be more likely to question right?

Oh wait, you wont do that because you dont believe what you just wrote. Please prove me wrong and send the OP your money 

I already have.

How much?

A matter of perspective: from your perspective, too much. From mine, not nearly enough.

[bulanula]

I already have.

How much?

What he considered to be an appropriate amount. What else matters?


Please, let's try to keep this on topic and without trolling.

By the looks of things he is the only one that donated; donated 0.20115289 BTC

http://blockchain.info/address/1HzH4YtFwBQXyF2NCCwyY2qFCCsBsmdN3j

[galambo]

I already have.

How much?

What he considered to be an appropriate amount. What else matters?


Please, let's try to keep this on topic and without trolling.

By the looks of things he is the only one that donated; donated 0.20115289 BTC

http://blockchain.info/address/1HzH4YtFwBQXyF2NCCwyY2qFCCsBsmdN3j

The donation link is here http://www.indiegogo.com/freicoin?a=784965

[smoothie]

I already have.

How much?

What he considered to be an appropriate amount. What else matters?


Please, let's try to keep this on topic and without trolling.

By the looks of things he is the only one that donated; donated 0.20115289 BTC

http://blockchain.info/address/1HzH4YtFwBQXyF2NCCwyY2qFCCsBsmdN3j

The donation link is here http://www.indiegogo.com/freicoin?a=784965

Wow you donated like a whole 50 cents. BRAVO! You are in such support of this project and its 28k goal LOL!

[steelhouse]

What I will do is become a miner and sell the coins and buy BTC.

Then you will be doing exactly what the currency is designed for.

Let me reiterate again: the purpose of this *coin is to cleanly separate the dual purposes of money, medium-of-exchange from store-of-value. You trade your mined freicoins for BTC, but the counter-party to that transaction doesn't want to hold on to freicoins any more than you do. So he uses it to buy services he needs, and the service provider gets rid of it by paying an employee, and that employee spends it buying groceries, and that grocer turns a profit and invests it in bitcoins, bringing the Freicoin cash back to the exchange, etc., etc. ad infinitum.

Bitcoin is and always will be an ideal mechanism for storing value, superior to Freicoin in that regard. That is expected, desirable, and by design.

A coin (medium-of-exchange) should be a store of value.  Both workers and grocers would prefer to trade a coin with a store of value.  People only save money to use in the future or to buy a bigger ticket item.

[galambo]

A coin (medium-of-exchange) should be a store of value.  Both workers and grocers would prefer to trade a coin with a store of value.  People only save money to use in the future or to buy a bigger ticket item.

It's simply not a necessary condition. If you really want to understand more I'd suggest picking up this book.

http://www.amazon.com/Debt-The-First-000-Years/dp/1933633867

Or watch this interview with the author

http://www.youtube.com/watch?v=SnOqanbHZi4

http://www.youtube.com/watch?v=L5c5mZhDs4U

[LoupGaroux]

$795 raised against a $28,000 windfall for the con-men behind this project with 44 days to go. At that burn rate the final result will be in keeping with the nature of the proposal- FAIL.

[bulanula]

$795 raised against a $28,000 windfall for the con-men behind this project with 44 days to go. At that burn rate the final result will be in keeping with the nature of the proposal- FAIL.

So true ...

[maaku]

$795 raised against a $28,000 windfall for the con-men behind this project with 44 days to go. At that burn rate the final result will be in keeping with the nature of the proposal- FAIL.

Well that remains to be seen. There's still quite a bit of time left and we've only just started to publicize.

In any case, if we don't make the goal then we'll just scale back some of the non-critical items, with the block chain pruning probably being the first to go--being the longest pole in the tent.

[LoupGaroux]

Here's a thought... why not hop the whole crypto-currency crowd of occupy-lings over to ShortBusCoin/MicroIntellectualPropertyTheftCash and adopt their failure of a currency instead of creating your own. It would really be more in keeping with the philosophy of occupy- leech from others, create a culture of dependency and entitlement by corrupting that which isn't yours, and seize what you want without the effort of actual creation or labor, because , gosh darn it, the 99% should be able to get what they want without all that yucky work stuff, just by taking it from the stupid 1% who actually created it.

An idea about as fucked up as this concept.

[maaku]

Or here's a thought: why don't you troll somewhere else?


I'm happy to respond to any reasonable questions about the economics of the proposal. But let's keep the discourse level-headed and rational, okay?

[smoothie]

Or here's a thought: why don't you troll somewhere else?


I'm happy to respond to any reasonable questions about the economics of the proposal. But let's keep the discourse level-headed and rational, okay?

No Loup is right this idea is not going to work.

Remember the term Open-source and free kind of go hand in hand. Asking people to fund your project goes against that very concept.

[maaku]

Remember the term Open-source and free kind of go hand in hand. Asking people to fund your project goes against that very concept.

That couldn't be further from the truth. These days only a small minority of free or open-source software is developed and maintained as weekend/hobby projects.

But anyway, why should the quality of the idea represent a legitimate demand on my personal time and resources? I thought we were mostly libertarians here--what's wrong with seeking even minimal compensation just to cover the cost of production? Is there something inherently unethical about donating specifically to the cause of creating a open-source/free software project? Would you object to someone making a similar donation to the Debian foundation? What about the Google Summer of Code interns? Are they scum for accepting stipends for the work they do? I really don't see the logic of that argument.

We priced the Indiegogo as low as we could make it while still doing a top-notch job, accomplishing all the goals listed in the timeframe specified. You might not believe it, but servers cost money to build and run, marketing artwork takes resources to make, and code takes time to build. $28k is our conservative, at-cost guestimate of how much it would take to complete the proposal and to do it right (no cutting corners), plus the Indiegogo fees and taxes.

[smoothie]

Remember the term Open-source and free kind of go hand in hand. Asking people to fund your project goes against that very concept.

That couldn't be further from the truth. These days only a small minority of free or open-source software is developed and maintained as weekend/hobby projects.

But anyway, why should the quality of the idea represent a legitimate demand on my personal time and resources? I thought we were mostly libertarians here--what's wrong with seeking even minimal compensation just to cover the cost of production? Is there something inherently unethical about donating specifically to the cause of creating a open-source/free software project? Would you object to someone making a similar donation to the Debian foundation? What about the Google Summer of Code interns? Are they scum for accepting stipends for the work they do? I really don't see the logic of that argument.

We priced the Indiegogo as low as we could make it while still doing a top-notch job, accomplishing all the goals listed in the timeframe specified. You might not believe it, but servers cost money to build and run, marketing artwork takes resources to make, and code takes time to build. $28k is our conservative, at-cost guestimate of how much it would take to complete the proposal and to do it right (no cutting corners), plus the Indiegogo fees and taxes.

Okay then why don't YOU fund the entire project yourself???