Quote from: morpheus on July 18, 2011, 07:03:53 PM

Quote from: BTConomist on July 17, 2011, 08:59:08 PM

Quote from: morpheus on July 15, 2011, 08:08:05 PM

First, I don't think there is anything wrong with bitcoin. However, people have brought up the idea of "backing" bitcoin with gold or otherwise controlling deflation. I'm proposing two types of coins which could be created with a modified version of bitcoin (possibly multicoin: http://forum.bitcoin.org/index.php?topic=24209.0). One would be based on the price of gold, Goldcoin, and the other would be stable with little to no inflation or deflation, Stablecoin.

What's the point in making an accounting ledger (read: bitcoin) to be more than just an accounting ledger?

Bitcoin is already backed by the computing power of good/friendly nodes. Let's just make sure that their number always exceeds the number of rouge nodes. This can be achieved simply by spending bitcoins, rather than hoarding them (as if it's a commodity).

I don't think I'm proposing making an accounting ledger any more than it is. I'm just suggesting a way to make the currency in that ledger have a stable value.

And, I'm not suggesting changing bitcoin, but creating a competing currency which would survive only if others found merit in it.

How about Namecoin?