Quote from: drebkk on March 04, 2014, 02:35:18 PM

Quote from: biboun on March 04, 2014, 01:55:25 PM

Thoughts about crypto currencies (sorry english is not my native language)

I need a parallel with "real" money:
Real money was generated by countries/govt so people can have items to exchange for goods (food, house) or services.
People use the money as a way to stock value in order to spend it later, so the main concern is stability.
The countries were stocking amounts of gold in deposits to garantee the value of their money.(humans has always considered gold as somthing valuable...)
Today, the moneys we use ($ ) are not directly related to real gold in safe deposits, and their stability is indexed to the economic stability of the country or group of countries that emit and use it.

Now bitcoin:
Initially value of this money is not indexed on anything real, this is just a "proof of work" that at least shows it is not so easy to generate money.
The main purpose was to bypass all the banks system and fasten exchanges.

Now bitcoins has a bit of value index as you can exchange it for dollars, or eventually spend it for goods or services(not so much when you compare it to $ or ).

As we've seen in the past, bitcoin has been used mainly as a spectulative value, people don't buy it to trade for goods or services, they buy it to sell it at a higher price and make benefit.

Now alt currencies:
Alts are not indexed directly to anything real, but you can trade it for bitcoins, then for dollars, then for goods (sorry i don't consider i coulf use BTC to buy everyday life stuffs).
They are highly speculative and every person who buys it is not even thinking "what could i buy with those [####]coins" , but "how much will it raise so i can make a great benefit by selling it".

So what ?

I believe there are 2 options:

1/ (BAD)The money stays at the level of highly speculative value, and you can't exchange it for goods, then ( sorry some don't like to hear that, but,) it is exaclty the ponzi scheme, which means the last person who will buy it will just loose money in exchange for nothing, and those who will make money are those who will just sell before no one wants it anymore.

2/(GOOD)The money trades for goods and services and people start to want the money, because they will use it for something useful in their real life (buying food, payings bills)

I read here and there that DGB needs to be more social, so that many people are interested in it and buy it :
what is the purpose of it ? maintain the bad ponzi scheme , new comers will pay for us, period

IMHO, the only real deal would be that people can start using DGB for something else than speculation ( i think of those guys who rent hotel rooms and accept DGB).
Ideally the best would be some stuffs you could "only" by with DGB, so DGB gives ou access to exclusive things.

So what do we need ?
We need to be sure that "technologically" the money is robust (exchanges fast and secure), stable (be sure that their will be enough hash power to handle the transactions and generate new coins|purpose of digishield), and ergonomic ( give poeple tools to use it).
IT IS !

and ?

And we need a purpose, people won't buy DGB just because it is cool, they will buy it because they will use it for goods or services.

When i watch Doge for example, I see a purpose, it is designed to become a way of tipping people in forums/chats/everything.
It becomes a money that ppl will use to thank other ppl for their help, it gives value to the money because it is traded for something real.
I can imagine people buying DOGE as credits to be able to ask for help in forums, donate to charity..etc

very true and interesting...

i think we can start try to introduce DGB as money in all those MMORPG ( like world of warcraft )

what u think devs??

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