Quote from: hugolp on June 20, 2011, 05:34:03 PM

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.

I can't start 'my own' currency, perhaps with a critical mass of people who think this is a better system that would be viable.

And as for Gessell, you are now claiming that he was not a 'real economist'. This is utterly untrue, he was an influence, among others on John Maynard Keynes. This idea has merit and again you cannot present any argument against it. 'It would become worthless' Why? There would still be 21 million coins, this system only increases the velocity of that money and discourages hoarding. The value of the coin remains the same. The idea that hoarding is a good thing, that is the really crackpot thing I heard people claiming on here.

Quote from: Vladimir on June 20, 2011, 05:21:33 PM

aral, we've just seen, wave after wave after wave of noobs coming in and screaming 'unfair! I cannot get 1% of all bitcoins in existence! Let's change the rules right now or I'l throw a tantrum!'

This is an interesting idea, not a 'noob tantrum'.

That currency deflation is a bad thing is fairly conventional economics, and the problem of the 'liquidity trap' is very real. It is entirely logical for people to withhold investment because they have more to gain by hoarding excess money. Sure I can go and read all the Austrian school writing about how that's all Keynesian nonsense but I've not seen anyone on here yet with an argument that is anything more than handwaving or ad hominem attacks.