Quote from: SyRenity on February 20, 2014, 11:30:15 PM

Quote from: ginko-B on February 20, 2014, 08:09:56 PM

Hi prophetx, just like you I am extremely skeptical of central bankers, inflation, and bailouts. And for the record I also believe strongly in the concept of "sanctity of protocol", i.e., the idea that the protocol should be sacred and for all intents and purposes untouchable or off limits to devs and community.

Nevertheless, there is an important distinction here.

The world's central banks operate in a totally non-transparent fashion and they make decisions to inflate our currency without our knowledge or consent. Over the past 50 years since we left the gold standard (which had previously been in existence for more than 1000 years) this pattern of central bank corruption has become pervasive and systemic, with centralized governments accruing massive fiscal deficits, then running the printing presses to fund the bailout, at the same time constantly "cooking" the methodologies for calculating inflation to fix the optics. I have traveled to more than 100 countries over the past decade and I would say that more than, say, 25% of the 206 countries in the world are in total economic shambles as a consequence of this (and other associated and interrelated) macro-economic mismanagement. It is absolutely disgusting, it is immoral, and it leads to massive poverty, inequality, violence, etc.

I personally believe that it is a basic human right that we should have a "non-corruptible currency" for use in our everyday lives, kind of like our right to water and oxygen. =)

Notwithstanding, at this stage in the Counterparty project, where the project is still in alpha and we have encountered a technical glitch that has damaged many members of this community, and the community still being relatively small, I can also justify in my mind the situation of holding a community vote. If we were to hold a community vote and if there was a majority or supermajority consensus that every XCP holder should give-up a tiny fraction of ownership in order to cover the costs of this unintended technical glitch, then, I think this would be possibly the fairest outcome, and it would add credibility to the community. This would not be an non-transparent and centrally imposed inflation like we are faced with every day by the evil central bankers. It would be community driven! See the difference?

In summary, while I deeply and fundamentally agree with everyone arguing for "sanctity of protocol", and while I believe it is a very fine line and potentially a dangerous and slippery slope to introduce any inflation at all, I also see the possibility for an educated and intelligent community rallying together under the exceptional circumstances of a "force majeur" event such as the security breech that has just occurred to hold a vote and make a collective decision to self-tax ourselves in the spirit of helping Busoni cover the loss.

Finally, my apologies for the long and passionate message, and I will refrain from any further posts on this topic until after we hear the result of Busoni and xnova's earnest efforts to reach a resolution with the greyhat.

Awesome write-up - I agree this could be the best solution.

without being in any way disrespectful, but I think changing the supply of coins (after burning) is one of the worst ideas. I studied mostly macroeconomic theory and all the stuff done by central banks was initially started by a good purpose. but if you start with changing supply, you will always find reason to do so (yesterdays bug found will probably not be the last bug), so better do not start.

let us wait if busoni finds and the developers find a solution. and if that is not possible we can discuss further steps.

as a hint if we'll have some kind of voting, the last thing I vote for will be a change in supply. If we in any way want to compensate for the loss we can do it by bounty. I could also imagine a taxation of all existing accounts, but please no direct change in supply of xcp