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Quote from: Dink on January 14, 2017, 04:34:17 AM

I have been following you for years with much interest, I post very little. How to you plan to stablize the price of your coin? I realize that the market will ultimatly decide the value of a coin but for mass adoption I believe you will need some measure of stability, even if it means a slow and steady increase in the value of your work.
It seems most people will not 'mass adopt' unless there is some level of stability. If you look at the jump(pump) and fall of any coin it does not take much to realize that an astute individual would not accept the great variance in price without abandoning a coin. Even for a smaller holder...having 50$ one day and only 30$ the next because of great swing in price and lack of trust in the whole system will not produce the mass adoption you are looking for. I realize social media adoption may be a bit diffrent but I think the idea for stability in price still applies. I also realize a pegged price seems to be a failure at this point...

Your thoughts?

D

You cannot stabilize exchange rates during any exponential growth phase unless you having unlimit money to do narrow market making.

This guy knows what he's talking about and that is almost exactly what we are doing

Elastic supply gives the resources required to do said market making.

If you are wondering it works VERY well!

... Said the FED and Keynsyman.

I believe in open markets and selfregulation. The less but genius rules the better. Who are you try to get control over complex systems? God?

Just because one attempt failed spectacularly due to a number of issues such as a biased distribution, delay in economic information propagation, abuse of money creation, greed and corruption; doesn't mean it can't work if managed and regulated properly.

If an economic system is void of the above issues, which decentralized technology now allows us to do, then at the macro scale it simply comes down to https://en.wikipedia.org/wiki/Supply_and_demand.

Ok, I see we talk about sth very different. You talk about goods and services, I was about money.

Not at all, you can quantify money to fit the same simple parameters as supply and demand economics if you are smart about it.

If you manage to set money equal to work hours you would not want anybody doing some elastic to your work time, would you?

That's a different paradigm though as its the consumption of a resource you can not get more of easily (or at all) thus it is a scare commodity. There is no way to regulate that and it has to operate under free-market principles.

Think of money akin to something that can be cheaply manufactured yet maybe worth more than the sum of its parts (demand). The manufacturing process and assembly line for said money is the network itself with its consensus and economic rules.

If you manufacture too much of something, its perceived value drops, and vice versa if you don't create enough. Same applies with money.

The whole philosophy of inflation, and the central banks informing us that inflation is good, is so that the newly "printed" money at the top of the pyramid is worth the same as the money at the bottom so they can extract more value from it before the currency devalues slightly due to over supply. As the new money trickles down the broad economy starts to feel the effect of it and the value of each unit in circulation devalues, pushing the price of good and services up.

If you remove that abuse alone, then already we are on the way to a more stable and dependable currency.

Ultimately my point is, that just because you and a few of use here know how to use volatile money, the rest of the world does not and expects a currency to be stable from day to day. Until that happens, crypto and alternative money systems will remain under adopted at large.

I see you try to do your last fight here and regulators like you need more and more words for that to tweek logic.

All what you do with your ellastic supply of money, work, store of value is taking the risk from the lemmings, keep them uneducated and get rich personally. I would recommend you have good disclaimers on that.

I try to,educate the lemmings. You judge what helps more to our world.

Huh?? How can I be a regulator and "get rich personally" if the system is decentralized and I have no control over the elasticity of the supply once the initial rules are set and are fair.

I think perhaps you are confusing me with someone else :-)

I m human, I might.
If you ARE god, you set the rules.
If not, decentralization is best approach also for defining the rules by evolution and selection of the strongest. So they must be simple and genius = from god.
I hope your stuff is better than ETH and you re not like VB try to play god.

Strongest money is just not elastic, cause money is base entity for valuation of all goods and services.
Compare to numbers in math.
Compare to work in pyhsics.
Not good to change basis of any metrics.