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/biz/ - Business & Finance

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20931027 No.20931027 [Reply] [Original]

(1/2)

Okay, I'm not an economist and I did just wake up, having dreamed this up, but hear me out.

How about an economy:

• Made up of purely digitized value units

• Based on blockchain technology

• Still generated/governed by a central, national authority

• In which the velocity of the currency is recorded into the blockchain and modifies the value of those units to the buyer and seller in a transaction record

• Where buyers are rewarded - not by a rating/profile monitored by the central authority but an anonymous rating/profile generated "naturally" by the modifiction recorded into the units used by the buyer at the time of transaction

• Newly generated digitized value units, having no record of transaction, and therefore no rating, while not valueless, is of a middling to lower value in comparison to digitized value units then currently in circulation

• Digitized wealth, having sat in accounts for the (comparitively) longest periods of time, eventually obtains the lowest transaction values, that is...what you can get from a transaction from any particular value unit is less...and perhaps you need to spend more of the currency than someone whose currency velocity has a better rating

>> No.20931034

(2/2)

The kind of things that my (untrained) mind generated as outcomes in the dream was:

• In a world where rampant inflation would result by just indiscriminately generating currency in the manner we're doing right now, currency transaction ratings might provide a further tradeable value other than just is inherent in a 'per single currency unit's value.' So brand new money would be (perhaps) of less value than currently existing money

• Banks, accepting money from the government which they then do not put into circulation according to its purpose, drops in value the longer it goes without being used in a transaction

• The wealthy (based on held value) would be encouraged to be more entreprenurial or charitable, in order to gain the benefit of a transaction rating for their currency. Otherwise, held currency cannot compete with currency with higher velocity value, based on a sum's collective transaction values at the time a transaction is being proposed

• Prices for specific things are still formulated based on a theoretical rateless dollar, but at the time of the point-of-sale transaction, how much currency would be needed to be transferred would fluctuate based on the collective rating of the currency used (money with high velocity would be some percentage better with less of it needed to be transferred against the 'rateless dollar price.'

F--k. Nevermind.

It seems to me when I slow down, I can think of entire industries that would be built up like mills wherein all they did is record near instant junk transactions and artificially increase the rating over time - the blockchain, as far as I understand, is agnostic.

I didn't save the universe. Time to get this load of freight to Seattle. :/

>> No.20931312

>>20931034
Hi schiZo

You described ampleforth

Ampleforth is a new primitive, an entirely new monetary system that was only made possible by blockchain

Future is that these kinds of monetary experiments will flourish in the next decade so...good on you to start theorizing

>> No.20931400
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20931400

>>20931312
>Hello Sir, you described Ampleforth sir. Buy my coin sir.

Ampleforth
- 1 year old
- 7 people working, only 1 software engineer
- coding looks bad and very little coding done
- there is no product
- there is no need for the product
- $380.132.704 marketcap

> BUY MY COIN SIR. PLEASE SIR

>> No.20931441
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20931441

Huh...so it wasn't a totally useless endeavor to be obsessed about for two hours after sleeping. I almost never dream, too.

Ampleforth...I'm going to go check that out.

Thanks, Anon!