Feathercoin Economics - Use, not Sell
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(This is my personal opinion based on my knowledge on economics. It might have errors and false statements that I have made mistakes on.)
From looking at the many altcoins (and bitcoin, to some extent) I found out that the main reason people put money in some altcoins is to make a quick buck, buying low and selling high like stocks on a market. while it might provide a short-term benefit by making it [b]appear[/b] as the interest in the coin has increased, It never works out in the long-term because the eventual selling of the coin causes panic and de-stabilization. I believe that the one way we can prevent this is by showing the legitimacy of Feathercoin by [b]implementing active, well-maintained funding for the future development of Feathercoin[/b] and [b]having an active market use for the coin[/b] so that people see it more as a legitimate currency than a get-rick-quick investment scheme. I personally believe that Crowdfunding, private donations and even casinos specifically made for funding developers and researchers would further strengthen the community and the coin.
Again, this is just my personal idea. people might differ in their own ideas.
sincerely, thebigmaybe (FTC: 6drvVmw4AuYV3LbeLpdXyyvFjdrevgqTzL)
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Definitely, and most of us understand that. If you read around you’ll see that that’s what we’re intending to happen with Feathercoin. To have its value determined not by exchanges, but by its usefulness and services available to use it for :)
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Cultural void. I like the fact that you guys get it.
You cannot have a strong currency without a strong culture.
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The only thing that matters is the mining strength. You can’t spend the coin without a stable network.
Specific development is irrelevant in open source, as there will be plenty of developments about, it is which ones are chosen to support the coin that matters. That is done by the users and lesser extent, the forum.At last some people are getting it, well done…
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[quote name=“wrapper0feather” post=“20237” timestamp=“1373094983”]
The only thing that matters is the mining strength. You can’t spend the coin without a stable network.
Specific development is irrelevant in open source, as there will be plenty of developments about, it is which ones are chosen to support the coin that matters. That is done by the users and lesser extent, the forum.At last some people are getting it, well done…
[/quote]Without culture mining strength = dump strength. This is a disaster. Culture splits the flow and influence of coin in money, service, product sales, and investment. Mining and dumping is not investment.
A passive economy is a limping zombie economy.
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I’m definitely in to make money with revolution only being a side objective. That said, I don’t think I’m ever going to be taking my coins and cashing in for cash or other alt coins. My entire objective is to use the coins to buy product from other people like the Market we have here and sell those products in the store I work at in order to pay bills.
FTC is strengthened by applying actual value tied to physical product and isn’t treated as a redheaded stepchild that people are merely using to “step” to other currencies.
It is, not to be funny at all, respecting the coin. Respecting what it’s worth and putting trust in that instead into something else.
