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RE: Blockchain-based Universal Basic Income?
I would say the biggest problem to solve is how virtual currency translates into physical reality effects and real-world dispute resolution. But a unit of virtual currency can represent the value of an apple just as easily as a unit of fiat currency can. Cryptocurrencies can bootstrap themselves. Fiat currencies also had to start from nothing. But these are interesting questions. We and others could have a recorded Google Groups discussion if there is interest in this topic and put it up on d.tube.
My point was exactly that, its the use of a currecy of limited supply that gives it value. The problem with fiat currencies is they are generally limited by the discretion of goverments and not by a law of nature. Most crypto-currencies are naturally limited.
So I agree with you there.
My issue is with a unnatural limitation of the dispursement that would devalue the currency, as there would have been no exchange of value. It would devalue the currency just as if a government had printed the money. If everyone gets a percentage, no one has an increase in value making it pointless, if only some people get the percentage you have the issue of deciding who which get into a potential for fraud. All this devalues the relative market value of the currency, so fewer people would use the currecy, further devaluing it. You would need some kind of sales hook.
I'm not particularly interested in this topic in particular, I think economic freedom would solve the worlds poverty problems, thats my primary excitement for blockchain. I think a platform to give blockchain microloans with blockchain contracts would be a supiour idea for decreasing poverty.
I genuinely believe a minimum basic income doesn't actually work economically, unless its only a subpopulation of who uses the currency, as the rest of the population holds up the value.
I'll try and remeber to look for curiosities sake when a get another few minutes.