Post
Topic
Board Economics
Re: Why bitcoin isn't currency.
by
benjamindees
on 09/11/2013, 00:56:47 UTC
Seems like it wouldnt be that big of a deal.

On the homepage of Ripple post 1 ripple ='s 1 KWH

Remove the limit and tie currency creation to its velocity. As more people decide to transact in it do what helicopter ben suggested and randomly distribute the new currency into clients.

That is how the central bank stabilize currency they create more of it as more people decide to transact in it.

I'll just point out that, in your hilariously ill-conceived joke of a system here, one would be able to create "energy credits" by trading ripples back and forth between yourself.  Do you really not recognize this as a fundamental flaw of your insistence on tying a (subjective) currency with (objective) physical goods?