Nxt Forum

Nxt Discussion => Nxt General Discussion => Topic started by: Valtiel on August 17, 2014, 10:21:13 am

Title: (concept idea) inactivity tax. why not?
Post by: Valtiel on August 17, 2014, 10:21:13 am
(before i start. sorry for my bad english)

after all that ruckus about the bter thief and reorg i was reading a lot about people dont want these 50m nxt got freezed and forgoten in some account forever i was thinking. why no add some sort of innactivity tax to nxt?
the goal of such tax is return the dead nxt who got stucked in forgotten accounts and give people some incentives to forge themselves adding more nodes and more security.
how its could work? well lets say some account got forgotten with 100 nxt beacuse the owner lost interest on nxt. he is a thief who steal those nxt´s and wait everyone forget him. let say after 2 months of no single transaction or forging attempt the inactivity tax start taking 1% every month over the starting amunt of nxt. that mean we take 1 nxt every month emtying the account in like 8 years 3 monts or so (sorry im bad with maths) thet could prevent some saboteour steal 25% of the whole nxt pushing prices and return unused coins to the system.
i know is a pretty basic concept and probably its not at the core by some erason i dont know but someone could explain why we dont have it and if viable?
Title: Re: (concept idea) inactivity tax. why not?
Post by: Brangdon on August 17, 2014, 10:47:03 am
One argument against it is that we want Nxt to be a store of value. Eroding at 1%/month undermines that. Recall also that, for security, we want to support cold wallets and paper wallets that can't make transactions.

If someone steals 25% of Nxt we have bigger problems. Even this incident only involved 5%.
Title: Re: (concept idea) inactivity tax. why not?
Post by: devphp on August 17, 2014, 10:47:22 am
Are you studying to be a banker by any chance?
Title: Re: (concept idea) inactivity tax. why not?
Post by: Valtiel on August 17, 2014, 11:15:33 am
no. i just thinking in a method to return stucked coins to the nxt cashflow again. about keep the stakes. i think about and i think just tax can be only applied to truly forgotten coins. not leased or put in a cold storage. (i assume you can put them in cold storage and continue leasing them for forging) and honestly i think 1% per month its not big deal. if you leave thata ccount alone 1 year when you return you still keeping 88 nxt´s and when you log on it the inactive count got reseted. that mean you just need log every 2 months on it to keep it alive.
Title: Re: (concept idea) inactivity tax. why not?
Post by: devphp on August 17, 2014, 11:23:29 am
How do you distinguish between truely forgotten coins and cold storage? Actually this idea already surfaced before and was rejected with many arguments, please re-think :)
Title: Re: (concept idea) inactivity tax. why not?
Post by: Valtiel on August 17, 2014, 11:32:25 am
How do you distinguish between truely forgotten coins and cold storage? Actually this idea already surfaced before and was rejected with many arguments, please re-think :)
well. considering right now cold storage are in some point of development maybe it could be some sort of leasing. just branding them in cold storage creating some kind of flag. i assume the people putting them in cold storage could continue forging with them. that could be another flag. the point is just tax the coins who wasnt accesed for real long periods of time in accounts never accesed. maybe the inacivity count could be setup at 6 months or even 18 months periods of time regular people access account for change elase pay services or anything.
Title: Re: (concept idea) inactivity tax. why not?
Post by: devphp on August 17, 2014, 11:34:46 am
You shouldn't tell people what to do with their money. If they want it inactive, it can stay inactive. If you dictate people what to do with their crypto money, it's the same as fiat money.
Title: Re: (concept idea) inactivity tax. why not?
Post by: Valtiel on August 17, 2014, 11:39:32 am
You shouldn't tell people what to do with their money. If they want it inactive, it can stay inactive. If you dictate people what to do with their crypto money, it's the same as fiat money.
i dont think is about told them what to do with their money. is just a technical idea. if they want keep their coins inactives its ok. no big deal. its about clear lost/forgotten accounts. you can put all your coins in a account and forget the passphrase. as i see is just a technical solution for forgotten accounts and not against freedom to burn bills.
Title: Re: (concept idea) inactivity tax. why not?
Post by: Come-from-Beyond on August 17, 2014, 11:40:36 am
A world with the money cannot be perfect.

Get rid of the money and solve all problems at once.
Title: Re: (concept idea) inactivity tax. why not?
Post by: crimi on August 17, 2014, 11:47:14 am
A world with the money cannot be perfect.

Get rid of the money and solve all problems at once.
+1

You are rich when others are working for you not when you have money.
Build a nano robot that can build another nano robot, problem solved. Than no one has shortage about anything. Machines will work for us and i can read a book.  ;D
Title: Re: (concept idea) inactivity tax. why not?
Post by: Thames on August 17, 2014, 11:52:56 am
A world with the money cannot be perfect.

Get rid of the money and solve all problems at once.

Get rid of the love of money and solve all problems at once.
Title: Re: (concept idea) inactivity tax. why not?
Post by: bitcoinpaul on August 17, 2014, 12:30:44 pm
Get rid of books. Then crimi will work for us.
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