I think that a lot of games will come with their own altcoin, because it's way easier to govern their economy that way. It's not smart to use bitcoin because that will mean loads of users will become rich/poor from one day to the other.
That is not true at all. I am not sure how can you say that using their own alt will be better? It won't be better at all. And imagine situation where every game with F2P model creates their own currency - only compatible with shop in said game and can't be used outside it at all. This one hell of a stupid idea.
How is it stupid? Blizzard could create BlizzCoin, valve could create ValveCoin or something to use in their F2P games like DOTA and TF2. It's not a stupid idea at all. Yes, for an end user to make profit from something like this would be hard, but that's not the point.
You say it's stupid but you don't give any reasons for it. That's not participating in a discussion, maku.
All those games already have their own in-game currencies... They don't need a blockchain based cryptocurrency. Runescape has gold, World of Warcraft has gold, League of Legends has gold, etc. They all have individual in-game currencies. There's no point for them to use a blockchain cryptocurrency since they would need centralized control(Its just games guys).
If there is deflation, people will tend to hoard the money they have since the "value" of currency will increase in the coming future. This will reduce the demand of the goods drastically.
This is yet another common misconception based on nothing but intuitive (mis)understanding. When you buy a car, it starts depreciating right after you begin driving it (in fact, it would depreciate even if you didn't drive it at all). According to your reasoning, people wouldn't buy cars and other quickly depreciating things they can happily live without.
Deflation can actually postpone consumption, but this effect will be temporary and short-lived.
Deflation is not the same as depreciation. Deflation is a decrease in the general price level. Depreciation is the consumption of capital.
You seem to be writing just for the sake of writing and having your word heard. What exactly do you disagree with me on? I never said that deflation is the same as depreciation, I was trying to explain the psychological motives behind human behavior, why people will still spend under deflation.
They may continue to spend during deflation, but they spend at lower rates evidenced by the drops in velocity.
Deflation and depreciation cannot be related. Since depreciation is consumption of capital, yet deflation is an increase of the general price level without any consumption, there is no way to relate them sensibly.
Just in case, deflation is a decrease in general price level. Depreciation means a decrease in value (just like deflation a decrease in price), what you refer to here is a narrow definition from accounting (but this is still the same concept of losing value). I think I explained it pretty well to repeat myself in respect to psychological aspects being effectively the same for both deflation and depreciation.
tee-rex, you're wrong buddy. Deflation does increase hoarding and lack of incentive to spend money. As others have said, deflation alone is bad for an economy. Also depreciation is not the same as Deflation....where are you getting this stuff from?
Post
Topic
BoardBitcoin Discussion
Re: How long did it take for Satoshi to make the blockchain?
pic very nice information you have there but no one truly knows how long he spent on this project hell for all we know he spent a lifetime planning and thats why it was near enogh perfect when released except the bug outlined above to only have one major bug in the software takes a genius especially on such a complex matter
Yea was wondering how much time he spent before he published the bitcoin whitepaper.
Post
Topic
BoardBitcoin Discussion
Topic OP
How long did it take for Satoshi to make the blockchain?
by
Truecurrency
on 14/03/2015, 22:31:22 UTC
Hey how did did it take for satoshi to make the blockchain?
Post
Topic
BoardBitcoin Discussion
Re: All property and money taken because of miners?! (Ireland)
by
Truecurrency
on 14/03/2015, 19:57:54 UTC
Wow, that sucks bad.
Post
Topic
BoardBitcoin Discussion
Re: Attack: if I change the genesis block.
by
Truecurrency
on 14/03/2015, 19:49:35 UTC
Dont think that would work, youd be creating a seperate cryptocoin.