Quote from: ytrezq on November 20, 2017, 07:56:41 PM

Quote from: Doum on November 20, 2017, 06:02:45 PM

I like that idea, I wonder how tough it would be to implement into an actual cryptocurrency though, we'll definitely need other developers to help build this coin and implement these features into the code.

Basically, it would be mostly as simple as to fork https://github.com/DynamiccoinOrg : it has already implemented the mechanism for writing the target price for each transaction in the database as well as the mechanism for verifying if the amount of coins created in a specific transaction match the exchange rate (though dynamic coin no longer compiles on any platform currently and the method for finding the exchange rate is bugged so theres maintenance work required).
But it has even an android wallet app.

What Dynamic Coin is missing is a destruction mechanism. Along the fact that the developer pre-mined 10 billions coins (too much in order to get capitalization exceeding supply), this is the reason Dynamic coin never reached its exchange rate.

The code for requiring a minimal transaction fee is well known and exists in several crytocurrencies.

The main part of the work would be to find how to send transactions fees to nobody (so for a transaction with a minimal transaction fee of 10, 20% goes to the miner, one coin is created and 8 coin are lost forever).

The problem is if such cryptocurrency would be pegged to a fiat currency instead of a physicall commodity, it wont be possible to make profit from it. Because of course the requirement for not loosing value is also not gaining value. If gaining value would be the only requirement, we could end up with all the coins being distroyed which would mean the cryptocurrency would cease to exists. Though it would be still be very useful as a safe current account, especially in spite of ᴇᴄʙ recent plans to cancel deposit protection effectiveness partially

On the other side, Im willing to help for development. Though Im only available part time and my field is nearer ɪᴛɪʟ than Agile

99% of those who say they will get Fiat with their crypto are lying because they can't do it. How many easy cryto fiat exchange are there after 1000 have promised that. just look at allt he ICO say they will have you know it's a scam.