

Ask HN: Cryptocurrency w/ Built-in Guaranteed Basic Income - gremlinsinc

Would it be possible to build a Crypto-currency that  also has a built-in tax system that goes into a pool and pays out dividends to users... Taking a 2.5% cut, and redistributing that monthly to all users.. The only problem is we&#x27;d need to have a way to ensure non-duplicate accounts, which takes anonymity out of the equation...<p>I honestly feel that bitcoin-like currency will topple governments--because when everyone is using a global currency, they won&#x27;t be able to control the power via money.<p>I&#x27;m very intrigued by a Guaranteed basic income, but what if we could launch a lite-coin clone that actually gives free coins to people on a monthly basis, and rewards businesses that accept the coin.. We could have a tax, plus instead of just mining for coins--the system could actually have a master account --a dispensary of sorts that creates 1 coin per active account per month, and dispenses that coin to recipients. --- Active means-mined, or bought&#x2F;sold via coin..<p>Still thinking on the subject, but would something like this be possible? Any other suggestions on how to make it better?
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ctdonath
Well, the obvious problem is you're proposing a self-destructive currency. Do
you really want to opt into a currency system which will inherently lose
value? and be non-anonymous to boot? You're building in a tax & welfare system
... creating a government, in an intention to topple governments.

I'll pass. I like my cash anonymous & stable. If you want part of mine, earn
it by trading something I value.

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cryptcurrency
Interesting concept. I actually have a theory that the next stage of crypto
currencies will have this "sort of thing" built in. An idea I've had recently
is that I want a cryptocurrency where each user has his own blockchain. In
other words, no universal ledger of all transactions on the system.

The other important concept is that (not saying I have all the answers) each
person is free to spend his / her currency as they please. No "mining". But
the "ledger" can be synchronized with what may resemble "FOREX markets" but
the point of these markets isn't to allow you to trade other currencies on
other block chains, but it's to help determine what that individual's currency
is worth.

If done right, then theoretically the person(s) who are right in the middle of
the bell curve have the most valuable currency, and those at least one or more
standard deviations from the center have less value.

The catch is that those people who you transact business / exchange currencies
with, the "currency markets" will generate the exchange rate and convert the
money into your currency units.

Theoretically the "currency markets", there would be many of them, and likely
there could be many within a geographic area comparable in size to a U.S.
County.

Ultimately the overarching goal would be that those who spend too much or too
little will ultimately pay the price with a loss in currency value.

I think one of the keys here will be to try to create a set of checks and
balances to help ensure people can't just create tons of accounts, and start
using them all. So perhaps a concept of "type" of transaction will be
important. For example, the blockchain shows how much the individual spends on
"housing", "food", etc...

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gmuslera
That users must have one and only one account is something that belongs more
to the real world than to the virtual one. And probably for that you will need
government cooperation, maybe from all of them for this to work.

