Quote from: GideonGono on June 20, 2011, 03:20:41 PM

Quote from: peak on June 20, 2011, 02:08:08 PM

The idea is inspired by revcoin's topic http://forum.bitcoin.org/index.php?topic=19278.0

To prevent deflationary spiral that may come some day, I have a very simple suggestion: all the miners and mining pools make an agreement that transaction fee should be a function of activity(or "age") of payer's address/account, which can easily checked by tracing back it's information in old blocks. Old account will spend more transaction fee to make the transaction confirmed, unless the payer build a powerful mining rig and successfully create a block to include that transaction.

For those account with huge amount of bitcoins, if the owner want to spend them in some day that each bitcoin can exchange for 10000$, he/she may only be able to trans 1% of them, and the rest 99% will be charged as transaction fee. He or She will still be a rich person, but bitcoin will not make any one a billionaire by simply hold a large amount of bitcoin for several years.

I think the idea is feasible： miners can earn more by this 'rule', and daily users of bitcoin will not worry about the bitcoin they spent will have severalfold purchasing power after one year and grudge to use them.

With this "rule", bitcoin will become a "currency" rather than "digital gold".

What is so wrong with early adopters becoming rich. What incentive is there for people to participate during the early hard time like the Mt Gox hack, DEA crackdown on SIlk Road and theft of $500,000 worth of BTC? What is the incentive if people come along and decide that it wrong to make profit for taking risk?

Furthermore, the whole deflationary spiral thing is a myth of Keynesian economics. More info:

https://en.bitcoin.it/wiki/Deflationary_spiral

I'm not against early adopters. Satoshi Nakamoto should be as rich as Mark Zuckerberg does if bitcoin survived. but bitcoin will not make any one a billionaire by simply hold a large amount of bitcoin for several years.--I don't think early adopters will do so, they will spend their money to open business to make bitcoin success and earn more.

I write is just for those who worry about deflationary spiral--if this happen some day and it really turns out to be terrible, the bitcoin community have ways to solve it.