Post
Topic
Board Altcoin Discussion
Re: Microcash.org says "Solidcoin"
by
Etlase2
on 01/05/2012, 22:37:41 UTC
Okay, perhaps you've just touched on our failure to communicate here - How exactly does one use MicroCash without becoming a node?

MC is apparently heavily promoting a lite client. But the funny thing is, you don't get paid for having a full node, you just get paid for having a lot of coins. Since there is not necessarily any future correlation (I will admit there is a current one since like 10 people use SC), you are just getting paid by having coins.

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The possible account-space for a modern cryptosystem comfortably exceeds the number of atoms in the universe by a factor of more than a google.  Given that they don't count as a scarce resource, that inactive accounts have no effect on either network or storage, and that disposable one-time-use accounts provide one of the bigger selling points of a cryptocurrency - What does this first point matter?

They are switching to an account ledger rather than a transaction ledger as described in various places around the forums here. RS claimed on his forums that "he just thought it up." This means that accounts use up about 1/4th the space of a bitcoin transaction, and there is only 1 balance per address, so there is a significant reduction in the amount of data required to store any given address. This is somehow reasoning for charging a daily fee (in reality, it allows for the charging of a daily fee, so the RS group decided to take advantage of that).

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Again, what infrastructure?  We (the users of the currency) provide all the necessary infrastructure, all the end-point computing resources, the entire raison-d'etre for any currency.  I don't see how charging us for our own contributions makes the network in any way "better".

Yeah I don't follow his logic at all there either.

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How does that encourage new users of the system, to know that they get to pay a tax to others who can effectively retire on their now-idle "investment" capital?

God exists because the Bible tells me so.