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RE: Introduction to VIVA, part 2 : More Than Meets The Eye
I think the part where you have to pay an interest is wrong.
If we are in this mess it is because we have always an interest over an interest that make the public debt out of control. When you borrow VIVA, what it should be given it is just the amount taken and in this way the system would be stable.
Actually, we know many people go bankrupt because there is not enough money to pay the interests on the debt generate by this banking system. We know it is basically a swindle. We have to avoid VIVA to end in this mouse trap
It's a because you're not understanding what the interest is for, who's paying it or who's receiving it.
In VIVA new money isn't just printed out of thin air. It comes from somewhere.
Only mints can print viva, but they have to pay for the right to do this.
If you have enough money to run a mint on your own, then the money you pay for the exclusive right to mint this money is just a cost of doing business.
If it helps to think through this, then flip it on it's head and look at it this way.
100% of all future VIVA is owned by people in the future.
The mint operator which is always a business, is borrowing from VIVA holders (individuals like yourself).
The money they pay to do this is given to you the individual, with the catch that you use it help others.
This is because there is no way that you an individual sitting at home are going to be able to compete for long with a business who's purpose is to print cash. So we reduce the supply to keep the price of the coin higher and use that reduction in supply to give to you more in the future.
But you get this, slowly, over time, when you're ready to start receiving your daily dividend payment.
This is not at all the same thing as taking out a loan. For instance a mint doesn't pay this amount back directly and they aren't under any obligation to pay it back. Instead they are minting new money that feeds back into the system by paying worker nodes and subsidizing business activities.
Interest is used as a control mechanism to prevent currency supplies from spiraling out of control, by contracting i.e. reducing supplies.
We should create jobs not more system of crypto currency.
We need business or jobs capable to create a honest income not another crypto currency that I can not use to make a honest living.
That's correct. Jobs and an honest living are key. But you do need a system in place to take care of you when there are no more jobs. The key here is to make sure that pretty much everyone is engaged in entrepreneurial activities. That requires a new kind of economy and that new economy cannot run at the whim of the 1%-