Mark Friedenbach

Future of Freicoin

38 posts in this topic

Interesting Paper (though i did not read it completely). But for my understanding we could burn a high amount of Freicoin to lets say 1Freicoineater... and use this address to have an "anchor of trust" that guarantees for one ledger.

 

About the "common vision": What is aimed at is to establish a constant circulation of the money which is very hard to achive with donation matching.

 

I try to test as much as i can though i dont know how a script for testing should look like.

 

About the "neat features" of Bitcoin: Bitcoin will stay what it is (a very volatile asset) independent of how many features there are, which is what we dont really want with FRC. So i think we should not focus to much on technology but on conception and circulation ;-).

 

Rik

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The last sentence of the paper: "We showed that by depending only on resources within the system, proof of stake cannot be used to form a distributed consensus, since it depends on the very history it is trying to form to enforce loss of value."

That doesn't mean that proof of stake cannot be useful for other things different from securing the chain (for example, republicoin).

About rebasing...it's not just about getting "neat features" from bitcoin upstream. It is also about getting important security and privacy improvements. For circulation, we have demurrage: the donation matching is only about initial distribution (instead of using all the seigniorage as subsidies to miners), and also about experimenting on ways to distribute the 5% perpetual seigniorage (that comes from the demurrage) in case that turns out to be too much subsidy for miners. I mean, if matched donations program can also help with development, adoption, etc. why not use it like we're doing? But the initial concern was not giving it all to miners as subsidies.

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hi all,
for detail discussion of proof of stake / proof of stake combined with proof of work we have this topic:
 
https://freicoinalliance.com/topic/64-discussion-of-proof-of-stake-pos/
 
So please post detail discussion about that here, of course general discussion relevant to the future of Freicoin could be posted here, as long as it goes not into an detailed discussion.
 

The last sentence of the paper: "We showed that by depending only on resources within the system, proof of stake cannot be used to form a distributed consensus, since it depends on the very history it is trying to form to enforce loss of value."

 

That said I just want to mention, that I was not speaking about using 100% proof of stake I was speaking of an combination from proof of stake with proof of work that solves the nothing of stake problem / the history problem.  Coins would simulate miners, but would not replace hard wired miners fully.
 

 

 

 

 

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On 11/5/2015 at 4:16 AM, jtimon said:

The last sentence of the paper: "We showed that by depending only on resources within the system, proof of stake cannot be used to form a distributed consensus, since it depends on the very history it is trying to form to enforce loss of value."

That doesn't mean that proof of stake cannot be useful for other things different from securing the chain (for example, republicoin).

About rebasing...it's not just about getting "neat features" from bitcoin upstream. It is also about getting important security and privacy improvements. For circulation, we have demurrage: the donation matching is only about initial distribution (instead of using all the seigniorage as subsidies to miners), and also about experimenting on ways to distribute the 5% perpetual seigniorage (that comes from the demurrage) in case that turns out to be too much subsidy for miners. I mean, if matched donations program can also help with development, adoption, etc. why not use it like we're doing? But the initial concern was not giving it all to miners as subsidies.

Can we look into the possibility of having Foundation funds and part of the transaction fees after initial dispensing of the coin to be LOANED out at 0% or at negative interest as micro credit for people in underdeveloped countries?

Kiva style:  https://www.kiva.org/

Kiva Microfunds
 (commonly known by its domain name, Kiva.org) is a 501(c)(3) non-profit organization[2] that allows people to lend money via the Internet to low-income entrepreneurs and students in over 80 countries. Kiva's mission is “to connect people through lending to alleviate poverty.”

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I can do some testing. My computer skills are not so great as to be able to build a wallet without a dummy's guide, but Im willling to learn and put in the time.

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6 minutes ago, Skaro said:

I can do some testing. My computer skills are not so great as to be able to build a wallet without a dummy's guide, but Im willling to learn and put in the time.

great to have you!

Best is to coordinate directly with fedde, he has the overview and the direct contact also to maaku.

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i like freicoin but I don't see movements. When starts the party? anothers coins with + 3000%.

Forget about the price. Freicoin is not about speculation.

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Freicoin was almost dead and has recently come back through grass roots efforts: Fedde built a new exchange, and a new explorer was built showing demurrage paid. There was a wallet update last August.

These efforts are continuing. In the works are updating p2pool software, updating wallets, and Fedde's exchange will be expanding to include other crypto-currencies all trading relative to FRC. 

 

The demurrage aspect of the currency means the coin is designed for spending and not speculating. Nevertheless, the present potential for value rise far exceeds the annual 5% demurrage fee. For this to be attractive, crypto-currencies need to find wider acceptance and circulation. Compared with 2008 and 2013, this appears to be happening now. Freicoin's developers are active and founding partners of Blockstream, and Freicoin is known for innovation (and not being a get rich quick scheme) since 2013.

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