Exactly. Not to mention that basically bitcoins would be worthless and would disappear since nobody would want to hold them. Why hold bitcons when they devalue in time, when you can hold gold or silver. Its fucking retarded.
I hope this guy starts this new currency so he realizes for himself what happens.
It is not retarded! People would be have more incentive to spend bitcoins instead of holding them.
Also they wouldn't 'devalue', in fact they would appreciate in value just the same, as more people started using them, but they would be more useful as transactional tokens rather than a store of wealth.
I don't yet see any convincing arguments against this idea. I wonder if what you're really saying is "get yer filthy 'ands off me stack o coins"
Aral with all my heart I implore you to leave Gessell aside and study real economics.
With your system bitcoins would become worthless and nobody would use them. They would not circulate because nobody would accept them. But you odnt have to believe me. Go and start your own currency. Its a small change in the code, its very easy. Go and do it.