Post
Topic
Board Economics
Re: A Modest Proposal
by
miscreanity
on 20/08/2011, 00:50:55 UTC
I would like developers knowledgeable in cryptocurrency to create new alternative cryptocurrency (call it iacoin, scamcoin, crapcoin, or whatever you like) and introduce it to the market along with supporting currency exchanges with bitcoin (like mt gox, ruxum, and tradehill). Of course, people should NOT release new cryptocurrencies often but maybe roll out the new currencies every 2 or 3 months in order to allow time for people to generate interest & hype, fueled by speculation as well as greed to make some quick money by being an early adopter to mining the new currency. People will proceed to mine the new currency until it becomes unprofitable or lose interest and move on to the next shiny new thing.

Why the fear? The world is running along dandy with multiple currencies. This is growth; it will be turbulent. Arbitrary rules are rarely effective - let the markets discover appropriate practices.