Hello,<br><br>Sorry for the delay in replying. First of all I'm not involved with Freicoin I just posted because I thought it might be of some interest.<br><br>I looked into Freicoin in a little more detail at the weekend. It turns out the demurrage is automatically distributed to coin miners. The reason for this is to encourage miners to secure the network.<br>
<br>I'm not familiar with Silvio Gesell's work on demurrage. I'm assuming he intended the currency to be introduced and managed by a state. This is very different to Freicoin where there is no state.<br>Demurrage works differently in these situations.<br>
I can imagine it working if it was implemented as the monopoly currency of a state.<br>However as just one of many in a market of currencies I can't think of any reason other than the political to use freecoin :( ??<br>
<br><a href="http://blog.p2pfoundation.net/freicoin-bitcoin-with-demurrage/2012/06/30">http://blog.p2pfoundation.net/freicoin-bitcoin-with-demurrage/2012/06/30</a><br><br>Regards<br><br>Kevin<br><br><br><br><br><br><div class="gmail_quote">
On 30 June 2012 15:00, Poor Richard <span dir="ltr"><<a href="mailto:poor.ricardo@gmail.com" target="_blank">poor.ricardo@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
Thanks you, Apostolis. That is a relief. I hate to feel like the only guy in the room who doesn't get the idea.<br><br>Richard<br><br>Date: Thu, 28 Jun 2012 21:04:14 +0300<br>
From: Apostolis Xekoukoulotakis <<a href="mailto:xekoukou@gmail.com" target="_blank">xekoukou@gmail.com</a>><br>
Subject: Re: [P2P-F] Freicoin - Bitcoin with Demurage (Kevin Flanagan)<div class="im"><br>
To: P2P Foundation mailing list <<a href="mailto:p2p-foundation@lists.ourproject.org" target="_blank">p2p-foundation@lists.ourproject.org</a>><br>
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<br>
*I wholeheartedly agree with you Richard.<br>
<br>
<br>
*<br>
2012/6/28 Poor Richard <<a href="mailto:poor.ricardo@gmail.com" target="_blank">poor.ricardo@gmail.com</a>><br>
<br>
> What do I not understand about demurage--how is not equivalent to a flat<br>
> tax except that it doesn't go to the public treasury where it might do some<br>
> good? Doesn't it discourage workers from saving at the same time it<br>
> discourages the rich from hoarding? Doesn't inflation already cause US<br>
> dollars to gradually evaporate? I don't see how demurage helps redistribute<br>
> wealth downward like a progressive tax does.<br>
><br>
> I don't get it.<br>
><br>
> Richard
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