To sum up my monetary system's basis: "By this means, the monetary base becomes the liquid value of the local economy's assets."
Maintenance of zero inflation/deflation is achieved by increasing or decreasing the citizen's dividend with respect to revenue. On Wed, Feb 26, 2014 at 5:39 PM, James Bowery <jabow...@gmail.com> wrote: > > > > On Wed, Feb 26, 2014 at 5:05 PM, Jed Rothwell <jedrothw...@gmail.com>wrote: > >> James Bowery <jabow...@gmail.com> wrote: >> >> >>> 1) Cryptographically secure limited number of coins. >>> >> >> I don't see any value to this. It causes the value to fluctuate rapidly >> and unpredictably. >> > > Your first statement is incorrect. There is clearly market value in > holding a quantity of anything that is in demand and that has known limits > on its supply. > > Your second statement is true and does mitigate against some > cryptocurrencies just as it does against any fixed commodity. > > I suggest checking out Bernard Liataer <http://www.lietaer.com/> for one > of the more rational voices regarding currencies, although I think my > monetary system is superior to any he suggests: > > https://www.mail-archive.com/vortex-l@eskimo.com/msg86806.html > > > >> >> >>> 2) Cryptograpicically secure transmission of coins between private keys. >>> >> >> They have had this for a long time. Wire transfers were perfected in the >> 19th century. Security is not unique to Bitcoin; what is unique is that it >> is anonymous and untraceable. Some people want that, and some such as drug >> dealers need it, but I have no use for it. >> > > Bitcoin transfers can be made anonymous by going through anonymous > intermediaries but they are traceable. > >> >> >> >>> The transmission of money is valuable in itself. >>> >> >> Sure, but electronic-speed wire transfer began in the 1850s, I think. >> Modern wire transfer began in 1871. >> > > Fire has been existence since the paleolithic. Who needs cold fusion? >
