Quote from: HuuHachu on July 20, 2013, 10:21:29 AM

Quote from: SNAZ31 on July 20, 2013, 09:59:14 AM

Great points and exactly my thinking! Of course not everyone will keep an eye on it but I am sure a lot will... I know I would and yes I have sat staring at my miner many a time, as well as the pool data lol

So I take it you would use a service like this?

Well, I don't have an infinicoin wallet to begin with ^^

But I'm really not sure how this service would affect users ...

Because of the mostly speculative aspect of today crytocoins, they display a strong instability in price (bitcoin included of course). Except when instantly exchanging any crytocoin income to fiat, there is no way sizable businesses (I mean where you can buy real life goods) would run on crypto as of now.
If a lot of people (or maybe more importantly) a large fraction of the money supply is kept in such service, this would probably help stabilize the price (which is maybe what is the most needed for any non "pump & dump" coin !).

This would be in the best of the worlds ...

But in the current world, there is also a risk for the holder if the market crash as he can't react and try to sell to minimize his loss.

Also, the sustainability of such a service is not assured if sizable amounts are sent to it.

Last but not least, the temptation to run a ponzi scheme is high (à la Markov or pirate something as seen with bitcoin, where you pay interest on the money newcomers deposit) ... Well some would argue cryptocoins themselves are just a big ponzi-scheme ^^

"Well, I don't have an infinicoin wallet to begin with ^^

But I'm really not sure how this service would affect users ..."

There could be a way around this, i assume you have them on an exchange? I would look into how that would work via the block explorer.

Only time will tell but I think it would be a fantastic benefit for them. Even the option of interest free loans could really help people out.

"Because of the mostly speculative aspect of today crytocoins, they display a strong instability in price (bitcoin included of course). Except when instantly exchanging any crytocoin income to fiat, there is no way sizable businesses (I mean where you can buy real life goods) would run on crypto as of now.
If a lot of people (or maybe more importantly) a large fraction of the money supply is kept in such service, this would probably help stabilize the price (which is maybe what is the most needed for any non "pump & dump" coin !)."

Yes we think so too, it is one of the beautiful things about this. It lowers the erge to dump as you can always pop it in the savings and earn some money on it... Also there will constantly be a demand to by us buying them to refund the pot. I think they will play major factors in how this will work.

"But in the current world, there is also a risk for the holder if the market crash as he can't react and try to sell to minimize his loss."

No this part is not right, they could sell up their coins any time they like, they have complete control over their money at all times. If they sell up though they will move the coins and that will show on the block explorer and then the contract would be ended and the interest earned will go back into the pot.

"Also, the sustainability of such a service is not assured if sizable amounts are sent to it."

There will be a maximum limit to protect against that. There will be different levels of accounts too based on a few things.

"Last but not least, the temptation to run a ponzi scheme is high (à la Markov or pirate something as seen with bitcoin, where you pay interest on the money newcomers deposit) ... Well some would argue cryptocoins themselves are just a big ponzi-scheme ^^"

No temptation here, the only way I benefit is if I make something that good enough and helps the crypto-community. If it didn't then people wouldn't use it and then the price wouldn't stabilize and grow.

I have heard many arguments for all coins being scams in one way or another. If people feel that way I suggest they don't invest and then the problem is solved.

I happen to think otherwise