Digital coin
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Sorry if this is well known by everyone, I must be living in a well for too long.
Just notice this (dated 2009) on digital coin.Is feathercoin = credit coin? from the video of the vouchers, its backed by products or services. Just wondering can there be a product or services that can backed feathercoin?
current development is interesting as more merchant services comes in. just need to come to a point where one can complete a full cycle of using the feather coin, from salary, payment of services, products, pay school fees to utility bills to buying of food and stuffs. where everyone accept it as a form of currency. Where there is no need for a Joe to exchange the coin for other currency (eg. USD)
http://www.youtube.com/watch?v=qBX-jaxMneo
http://www.youtube.com/watch?v=dkXclJr1Z4U
Money As Debt
http://www.youtube.com/watch?v=jqvKjsIxT_8 -
There’s a lot here that’s awesome, except for the fact that it’s not dynamic enough and it’s based still on the ridiculous idea of global value. Money isn’t supposed to be global.
Also basing it on goods and services is a problem because it causes the classic Catch-22: I don’t build it 'til they come and they won’t come 'til I build it.
The opportunity bonus is a nice idea, but again it’s only based on contract. It’s not based on actual value. The blockchain performs a service: Making fraud difficult. That is its intrinsic value. There’s other such ideas we can use.Digital coin has some interesting concepts, but it’s tied to supply and demand instead of interaction and momentum in an economy.
But FeatherCoin evolves so we’ll probably borrow ideas from all over.
