Quote from: MaxReserveum on October 05, 2022, 09:46:38 AM

Quote from: thecodebear on September 15, 2022, 12:51:03 PM

Quote from: reserveum on August 25, 2021, 11:21:34 AM

Let's talk about this thing: How to create Ideal Money?

Why don't we call our hypothetical perfect currency, let's say, RESERVEUM. There is double meaning in this name:

1) an ideal currency of the future that must be totally asset-backed.

2) an ideal currency that is to become the global reserve in the future

Is it even possible to create such ideal currency?

What features should it have?

Please share your thoughts and opinions.

You are just describing Bitcoin. Though Bitcoin isn't backed by another asset because it is itself the non-inflationary backing. Assets that are valuable and useful and have low inflation or non-inflationary in which the inflation can't at all or can't easily be changed are the assets that back weaker currencies and therefore don't need backing themselves, and this is Bitcoin.

Dear follower, thank you for your comment. We appreciate it, and it is really important when people can share their ideas.

Your viewpoint is very interesting, and we consider it to be true, though Bitcoin seems to be a rather speculative asset, contrary to Reserveum MAX coin.

By the way, there is an open call project in our Reserveum MAX group.

You can send your ideas there, as we are looking for smart people and there are prizes for the best ideas. Please, visit Reserveum for more details.

I mean you can describe any financial asset as a speculative asset. Speculation is just buying something in the hope that it's value increases, that's describes every single financial asset. Stocks are speculative assets, gold is a speculative asset, real estate is a speculative asset, USD is a speculative asset for those outside the US or for anyone who trades in the Forex markets. Saying something is a speculative asset is kind of a non-descriptor, it doesn't really tell you anything.

It's more important how you use the asset. Many people don't use Bitcoin as a specular asset because they use it as a long-term store value or savings. This usage will only increase in the future. As will its use as a transactional currency. People will still use Bitcoin as I speculative asset for investment and for trading. But still what you are describing in the thread is just Bitcoin, Except Bitcoin is better than what you're describing because Bitcoin doesn't need to be backed by some other (speculative) asset.

Making an asset that needs to be backed would be a weakness not a strength. So the ideal asset would definitely not need to be back to buy something else because then you're just saying the ideal asset is a secondary asset, which would obviously make it not ideal. Bitcoin is the primary asset because it doesn't need to be backed and that is a huge strength.

We already have ideal non-inflated money. It's called Bitcoin. Since Bitcoin came out there have been countless attempts to make something better and no one has ever come close. Just as no one ever found a better hard physical asset to represent money than gold over the thousands of years gold was used, i doubt anyone will ever create a digital asset that could be better than Bitcoin, even in thousands of years in the future. This is of course assuming Bitcoin continues to get upgraded regularly with technological improvements.

I would say the only weakness of Bitcoin is that in order to maintain its perfect strength as money it needs to continue to be immutable and therefore can't have hard forks. So we are stuck with the original design and always keeping it backwards compatible. I'd say this is the only real weakness of Bitcoin but it is required in order to keep some of Bitcoin's key strengths. Like if at some point in the future someone was able to design a decentralized digital monetary system that was far more efficient than Bitcoin/blockchain, Bitcoin wouldn't be able to adapt and upgrade to this new more efficient system because that would require a total protocol change and mean Bitcoin is no longer immutable. Though I suspect even if that were to ever happen by then Bitcoin will be so ingrained in society and the normal way people use Bitcoin (2nd layers like LN) will already be so efficient that it won't matter that the Bitcoin base layer is less efficient than whatever this new future tech is.