Dissicoin

A have a half-baked idea. Maybe quarter-baked.

The trouble with cryptocurrencies is that few are actually being used as currency. Instead they’re being used for speculation. Transactions that are made, are often transferred immediately back into fiat.

The original inspiration for bitcoin is yet to be realized – unimpeded trade across borders using a stable currency subject to no government control or manipulation.

Perhaps we could get things moving by making a gentlemen’s agreement to use a particular coin or token for trade within the dissident sphere.

The small sums of money that change hands here are mostly for books, subscriptions and small donations, and much of it is used by the receivers to purchase books and subscriptions from others in the sphere.

What if we agree upon a single coin that we all try to use when transacting with each other, disregarding (to a reasonable extent) its fiat value?

Yes, arbitrage would be possible, but good faith also exists. I’d be prepared, for example, to offer my books for a certain number of tokens even when this would be less than the USD equivalent on the day, on the understanding I could use those tokens to purchase books or subscriptions from others on the same terms.

Utopian perhaps, but if we’re talking small amounts, not wildly so.

Why bother?

  1. Privacy. Neither buyers nor sellers necessarily want to be identified around here but you can’t escape it with PayPal, Amazon etc.
  2. Speed. The better coins work fast.
  3. Anti-fragility in case a platform is pulled from under us, as they frequently are. In other words, independence.
  4. A word that rhymes with ‘fax’.

Which coin?

I’m not an expert on cryptocurrencies. However, let me make the opening gambit: for privacy, speed and future scalability, Dash looks pretty good.

As we’re mostly on Brave browser, perhaps BAT would work. Doesn’t seem to be used for much else so far and it’s all set up and ready to go without much effort on our part.

Or shit, even Doge. How hilarious if, in a century, bitcoin and the USD have gone the way of the denarius and Florin while Doge survives to become the world’s reserve currency.

“What, three Doge for that metal boomerang? Dreamin’.”

Your thoughts?

14 comments

  1. luisman · 12 Days Ago

    Some people have tried to calculate how much electric energy is used to mine a bitcoin. It accounts today probably to around 1% of the world’s energy use. To mine the very last possible bitcoin would, I guess, use 100% of the world’s energy. So, that’s a giant waste of ressources imo.

    How to transfer money electronically has been solved before Bitcoin already, by banks. The only issue would be anonymity. And since most ‘bitcoiners’ move between regular currencies and bitcoin all the time, this anonymity doesn’t really exist anymore. As you said, it’s not used as money, as a medium of exchange, but more like a worldwide computer game. All the ‘inventors’ of these crypto currencies wanted it to be used as money, but nobody really does. Tell me how your ‘coin’ would achieve this?

    Liked by 1 person

    • Nikolai Vladivostok · 12 Days Ago

      I suggested Dash because it is less energy-intensive than bitcoin or Monero. Not sure about BAT.
      As for how to get a crypto to be used as money, it’s a bit like trying to pull yourself up by the bootlaces. As with fiat or Nutella lids, either people use it as money or they don’t. Unlike fiat, there’s no government to force people to use it as there is for any worthless, Third World currency.
      As I said, quarter-baked.

      Liked by 1 person

      • Liberator · 12 Days Ago

        The most energy efficient bitcoin is the BitcoinSV blockchain. Apparently it’s the most scalable and secure processing of transactions of any blockchain. The more the BSV network grows the more energy efficient it becomes.

        Like

  2. jewamongyou · 12 Days Ago

    I think it’s a good concept. Like you say, small amounts. Otherwise, everybody would have instant buyer’s remorse, because the currency they used would jump in value immediately after they spent it. I know that’s how it would work with me.

    Liked by 1 person

  3. Liberator · 12 Days Ago

    How about BitcoinSV (BSV)? This blockchain digital cash system forked off the bitcoin (BTC) blockchain to maintain the protocol as outlined in original bitcoin white paper. Has the backing of Australian bitcoin inventor, Craig Wright. Fast and extremely low transaction fees. Has an an active growing community using and producing apps that can operate on micro-transaction fees. A compilation of 257+ apps listed here: https://metastore.app, including a password manager, city (NFT) auctions [CityOnChain], transparency of seafood supply chain and a Twitter counterpart called Twetch (as it happens your blog has a Twetch bot posting links to your new posts).

    Liked by 1 person

    • Nikolai Vladivostok · 12 Days Ago

      I saw clicks from Twetch, thought it was a reader app or something.
      How does BSV compare to Dash and BAT?

      Like

      • Liberator · 12 Days Ago

        BSV tx fees are approximately 10X lower than Dash. The Dash blockchain can process about 56 tx/sec whereas BSV can sustain about 9000 tx/sec; this will grow even faster as block size is increased. The goal is for the BSV blockchain to be able to process about 50,000 tx/sec later this year. BAT is a token on the Ethereum blockchain and so can be very expensive and very slow.

        Liked by 1 person

  4. overgrownhobbit · 12 Days Ago

    Just because bit is not a gummint, does not mean those behind it are more admirable. More usefully: Infogalactic is a prime example of how well.dissident / alternative project s work when left to gentleman’s agreements among dissidents.

    Like

    • Wolf · 11 Days Ago

      What is the story with infogalactic?

      Like

      • overgrownhobbit · 11 Days Ago

        Got built as a big fork from Wikipedia with the promise not to censor or the erasure or slandering of individuals. I used it recently, and was able to pull up the full record of some pod-caster whose story had been selectively-edited by the skeevy wokerati leads at wiki. But… And… It has a skeleton crew keeping it going. So, we complain about the cheating and the fraudulent erasure, and the psychos camping innocent people’s bios, and the more fraud… But we don’t get out there and *use* info galactic much less learn how to update it and keep it current.

        Like

        • Wolf · 11 Days Ago

          Yes, the evil left has more energy and overall more talent and that’s probably why they win.
          Civilization is done bro. Only thing to do is watch it all burn or join the Amish.

          Like

  5. Kentucky Headhunter · 12 Days Ago

    One Dash coin was going for $183 yesterday. How does that get used for small transactions?

    Like

  6. Pingback: Word from the Dark Side – the right to party, crypto revelations, restricting efficacious meds and riding the (mall) lightning | SovietMen

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