Quote from: blogospheroid on April 23, 2013, 08:33:17 AM

I cannot deny that bitcoin's structure influenced me on this. And I know that the price will run free, even if only a certain percentage of the coins are transactable at any given moment. The question is, does it add a little more stability or not?

Whether it does or not, you have not come up with a way to incentivize it, and thus no one (rational) will do it.

Quote

I'm sorry if you've answered this one before, but what prevents this from becoming a mordor coin, burning up resources indiscriminately?

It's all good, I prefer discussing this stuff in threads rather than the numerous questions I get over PMs because then I don't have to repeat myself!

In the other StableCoin thread - https://bitcointalk.org/index.php?topic=178140.msg1890016#msg1890016 - Although I did paste it in this thread as well, there is more context there

Relevant part is at the end:

"In addition to all of this, we must eschew mordorcoin and give money away for free. Now we know for damn sure that new money is needed with the difficulties associated with minting. The written decrits proposal proposes giving away 5x of this block of coins to transactions and 5x to existing accounts, both randomly (blocks of accounts will be stored together, and this will be the starting point for awarding free money to them because awarding every account is infeasible in a network of any reasonable size). This area can be nitpicked, but I have come up with some very solid solutions.

In addition to that, because network expansion could easily outpace the time constraints set on Mint Blocks, each successive Mint Block within a defined period will increase the tx/account award further. The second block in a row will award 6x to each. The third will award 7x. This may max out at 10 each, or maybe it could go on continuously (perhaps after 20x the difficulty could start increasing say 3% per block; with so much new money in circulation [especially to transactors], if this causes mild deflation it would likely not have any problems being counteracted). So even in the worst case scenario of everyone instantly switching to ASICs and intentionally not raising the difficulty, designing and producing those ASICs will never be profitable. Plus the inflation has to catch up and raise the average amount of transactions over an extended period, or the ASICs will simply run into a wall where they can not mint for extended periods."

Quote

Decrits sounds like a very interesting proposal. I need to read it in more detail.

Now I will be repeating myself, but that proposal is over 9 months old and it isn't fair to go back and change it all to fit my current ideas because the discussion will look weird. But it covers the major points well enough. I have 40-50 written pages of tweaks and ways to make it work better as well as multiple ideas on how each facet could work. Things that I would like to eventually flesh out publicly to reduce the chance that I missed something. I think one more proposal will be in the works and then it's time to finally start writing code, and hope some more will join up.