I am increasingly convinced that the fundamental issue is the union of currency and equity.
Money as a facilitator in exchange is very useful. However, when it becomes a value store in itself it leads to the issues you come back to in many of your excellent posts.
Perhaps the right idea is money as a capacitor, not a battery. Capable of holding value for a period (like wheat) but not indefinitely, and not in a way that it would make it possible to hoard.
Expiring coin would be better than worldcoin. You get paid, you pay your bills and taxes. What is extra you could post cooperatively for someone else to use, as otherwise it would decay.
A "bank" would be limited to facilitating these transfers, and whatever vig it took would have to be disbursed immediately to employees. There would be no "funds" of any kind because you could not accumulate enough capital to create such a distortion. If there was a short-term need for liquidity, more could be generated, but eventually it too would disappear.
Property could not be purchased in the contemporary sense because you could not accumulate enough cash to do so. You could commit a future stream of coin from either the amount provided to you or through trade activity to lease property giving you the right to use and improve, but not destroy the property.
Oh, and Sam Altman is clearly a malignant narcissist and should not be allowed to succeed at this project.
Yes, regarding the capacitor idea! Decaying the money (aka 'Wealth tax' or 'demurrage') is a good idea, but it has the problem that it tempts people to move their money into stabler assets (like houses or cars) to avoid the decay. But the good news is that a transaction tax (say 8% of every transaction) does the same thing without creating the perverse incentive to move out to other assets.
Also 100% inheritance tax with any property on death devolving to the enclosing municipality. No trusts, no foundations. If you transfer more than $50k per year while alive it is taxed progressively up to 100%.
All corporate entities transparent publicly, no connection via SWIFT to any entity that provides a tax haven (though that might screw England).
Go buy art if you want, or houses or cars. Enjoy them for your life and then they are transferred to public entities.
Oh, and any cash at death, whether direct or through sale of assets, is de-moneyed by the federal reserve.
thank you for those links! I think the bitpeople idea is great, but the 'verification parties' need to be F2F to protect against AI-generated people passing the test. But yes, getting people communicating as a way of proving identity has the dual benefit of both identity verification and increased trust.
I am increasingly convinced that the fundamental issue is the union of currency and equity.
Money as a facilitator in exchange is very useful. However, when it becomes a value store in itself it leads to the issues you come back to in many of your excellent posts.
Perhaps the right idea is money as a capacitor, not a battery. Capable of holding value for a period (like wheat) but not indefinitely, and not in a way that it would make it possible to hoard.
Expiring coin would be better than worldcoin. You get paid, you pay your bills and taxes. What is extra you could post cooperatively for someone else to use, as otherwise it would decay.
A "bank" would be limited to facilitating these transfers, and whatever vig it took would have to be disbursed immediately to employees. There would be no "funds" of any kind because you could not accumulate enough capital to create such a distortion. If there was a short-term need for liquidity, more could be generated, but eventually it too would disappear.
Property could not be purchased in the contemporary sense because you could not accumulate enough cash to do so. You could commit a future stream of coin from either the amount provided to you or through trade activity to lease property giving you the right to use and improve, but not destroy the property.
Oh, and Sam Altman is clearly a malignant narcissist and should not be allowed to succeed at this project.
Yes, regarding the capacitor idea! Decaying the money (aka 'Wealth tax' or 'demurrage') is a good idea, but it has the problem that it tempts people to move their money into stabler assets (like houses or cars) to avoid the decay. But the good news is that a transaction tax (say 8% of every transaction) does the same thing without creating the perverse incentive to move out to other assets.
Also 100% inheritance tax with any property on death devolving to the enclosing municipality. No trusts, no foundations. If you transfer more than $50k per year while alive it is taxed progressively up to 100%.
All corporate entities transparent publicly, no connection via SWIFT to any entity that provides a tax haven (though that might screw England).
Go buy art if you want, or houses or cars. Enjoy them for your life and then they are transferred to public entities.
Oh, and any cash at death, whether direct or through sale of assets, is de-moneyed by the federal reserve.
Hi Philip! Johan Nygren (https://twitter.com/resilience_me) had some similar conceptions like yours.
https://bitpeople.org/ - for identifying unique humans by each other
https://github.com/p2p-safety-net-co-op-dividend-scheme/server/tree/master/docs - dividend pathways for Swarm Redistribution
I don't know his works deeply, but it looks interesting.
thank you for those links! I think the bitpeople idea is great, but the 'verification parties' need to be F2F to protect against AI-generated people passing the test. But yes, getting people communicating as a way of proving identity has the dual benefit of both identity verification and increased trust.