
Time-Based Currency [video] - jonbaer
https://www.youtube.com/watch?v=0Q3qcutiIwo
======
pkos98
Regarding alternative forms of currencies, have a look at this one:
[https://en.wikipedia.org/wiki/Demurrage_(currency)](https://en.wikipedia.org/wiki/Demurrage_\(currency\))

This approach tries to avoid hoarding of money by decreasing the value of
hoarded money. The concept is part of the idea called "Freiwirtschaft"
(German, literally translated Free economy):
[https://en.wikipedia.org/wiki/Freiwirtschaft](https://en.wikipedia.org/wiki/Freiwirtschaft)

~~~
npongratz
Built-in demurrage has been tried with Freicoin, which has been around [0]
since 2013:

[http://freico.in](http://freico.in)

[https://coinmarketcap.com/currencies/freicoin/markets/](https://coinmarketcap.com/currencies/freicoin/markets/)

[0] For the loosest definition of "been around" \-- I assume its blockchain
still exists _somewhere_ , but their own website links to an explorer that
apparently doesn't exist. And their Github repo hasn't been updated for ~18
months:
[https://github.com/freicoin/freicoin/commits/master](https://github.com/freicoin/freicoin/commits/master)

~~~
theamk
Perhaps people were not spending it, so over time, its value dropped all the
way to zero? :)

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dnprock
I'm experimenting with a new type of currency: an inflating supply crypto. The
supply inflation is 7% per year. When new money is issued, everyone has equal
access to purchase the coins. Inflation also discourages hoarding behaviors
that we see in a system like Bitcoin.

The long-term goal is to be a medium of exchange.

[https://bitflate.org/](https://bitflate.org/)

~~~
ghastmaster
How is this different from Federal reserve notes, aside from blockchain?
Hoarding is a good thing. If I have a currency and someone hoards, my currency
goes up in value based on supply and demand. Hoarding also benefits anyone who
wants to make a capital investment. You have to hoard first before you can
purchase something. Why would I want to have something that is guaranteed to
be worth less at a later date? The only reason I hold FED notes is because the
government forces me to do so.

~~~
dnprock
The difference is the supply inflates exactly at 7% per year. Nobody can
change its issuance rate. It's a fair game for everyone. I design a reward
schedule that benefits early adopters:

0: 50

1: 25

2: 12.5

3: 6.25 (end of halving)

4: 6.56 (start of inflation 7%)

5: 7.02

6: 7.51

7: 8.04

8: 8.60

9: 9.20

10: 9.85

While the supply is unlimited in the long-term, it is limited in the short-
term by the inflation rate. The reason you want to hold it is speculation.
With Bitcoin, people speculate on a Store of Value. With Bitflate, people
speculate on a Medium of Exchange. There's a field of trading for currency.
The market can adopt the coin faster or slower than the issuance rate. I wrote
a post on the incentives:

[https://bitflate.org/post/2019/11/01/economic-incentives-
for...](https://bitflate.org/post/2019/11/01/economic-incentives-for-
inflating-cryptocurrency.html)

------
RichardHeart
Neat. I made a cryptocurrency which monetizes time. Longer you lock up, higher
% of inflation you receive. Lightly similar to a time deposit at a bank. I'm
quite surprised no one did it before. It's virtual lending, in that value is
accrued by those unlocked, by the reduction in circulating supply by those
locked.

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tromp
Grin appears to be the only cryptocurrency with a constant reward: 1 Grin per
second forever.

