TAGBOND wrote:Transparency – unlike BitCoin (considered to be the biggest and “mother” cryptocurrency), TagCoin founder, developers and/or staff can be contacted. Open conversation and discussion is promoted.
This seems a bit of a low-blow against the bitcoin team. It's famously true that "Satoshi" - author of the original bitcoin paper
- is not an alias identified with anyone currently active on the project (which isn't the same as saying s/he isn't currently active on the project...). However, the current bitcoin development team is, afaik, not at all difficult to contact and is embroiled in just the sort of very-public, very-noisy, very-dramatic opensource development style discussions/debates that one would expect out of a project of this social and technological importance.
Which is to say: they're not exactly hiding, nor mysterious, nor refusing contact with the outside world.
That said, it's great to see a diverse ecosystem of cryptocurrencies coming into existence. There's nothing in economic theory to say that a unitary currency is Pareto optimal. Indeed, throughout human economic history there have been countless exchange media used, from highly portable objects to heavy, symbolically resonant tokens of exchange. I believe most all of these are discussed in Matt Ridley's The Rational Optimist
along of course with a host of academic titles in the anthropology literature (the first amoungst equals being, perhaps, Graeber's monumental Debt: The First 5,000 Years
Sometimes we refer to these exchange media, shorthand, as "scrip" - a decent term for everyday use
To be clear: cryptostorm makes no claims that our tokens are any form of generalised exchange medium, nor intended as such. That's because, simply put, control over minting of new tokens is retained by the project team - not driven by mining or any other objective criteria. Thus, in theory, the team could flood the world with new tokens & debase all existing ones ("inflation"), although of course in practical terms that'd be silly when it comes to actual network access.
Down the road, we're actively working on a blockchain-style externalised authentication methodology for tokens as an adjunct to the distributed, mongoDB-based auth/synch mechanism currently in place. Which is just one of countless examples of how bitcoin-derived concepts and techniques are being used in all sorts of related and unrelated areas of technical work... a fascinating thing to watch, realtime.
In any case, thanks for bringing over the Tagcoin example - it's one I'd not seen before, personally, and we're glad to have as many parallel examples as we can so we can all learn from the most useful components of each.