Quote from: hawks5999 on July 17, 2011, 04:27:46 AM

Quote from: error on July 16, 2011, 06:46:37 AM

What problem are you trying to solve?

Bitcoin not being enough like Federal Reserve Notes.

Let's go ahead and leave it busted.

Different from the FED in that the goal would be to achieve deflation of around 2% or more per year. FED aims for inflation of around 2%. Also different in that currency generation is specified by an algorithm rather than an appointed commitee. Similar to the FED in that the system takes currency in and out of circulation to limit price volatility.