Bitcoin Forum

I was thinking about what would be the perfect Keynesian coin, not that I would want it to happen but just thinking.


The coin would delete any stagnant balances that have been around for more than x amount of days, maybe 3 months to a year (maybe even fluctuating based upon activity).

The rate of new coins created would be based upon the amount of activity on the blockchain. As the rate increases, the reward goes up, as it slows down the reward goes down.

And there would always be a minimum amount of coins created.

And a government would have to require people to use it.

Did I miss anything? Other than a group of men manipulating things manually.

So you want a crypto-fiat?

What you suggest is exactly what creates inflation, inflation is the incentive to spend to stimulate industrialisation. Do we really need more wage earners to spend and more corporation fruit?

I did not say that I want it, I was just trying to picture such a system.

every user would need the ability to add a 0 to the end of the total coins in existence with the click on a button.

https://www.youtube.com/watch?v=GTQnarzmTOc (https://www.youtube.com/watch?v=GTQnarzmTOc)

I think there's something to your idea of recycling stagnant cash. Money sitting in a vault or wallet doesn't serve much of a purpose. I see currency as the grease to the wheel of human civilization. We are in a capitalist economy and innovators need new capital now in order to improve the world.

if the money has a limited supply than hording it slows the velocity of money causing the price to increase which acts sort of like a free loan to anyone who holds the currency or has an asset denominated in it.

Keynesian wheel: spread the grease around everywhere because the center shouldn't hoarde it all.

So money that YOU YOURSELF AND NO ONE ELSE earned should have less value if you proved having discipline and not use it? Promoting compulsive behavior is certainly pretty good, especially considering Darwinism has good evidence. People shouldn't be stimulated to buy, they should be stimulated to provide for their needs. The Keynes scheme pretty much stimulates careless buying and leaves little for survival needs.

But hey, if you think stagnant money is so damaging, more power to you,

If only people like Keynes stopped working so hard to defend their ideology and sometimes would use that brain power to contemplate opposing ideologies. What are the odds something you thought of when you were 17 are all proven facts 40years later?

I'm not advocating that any extra coins should be created here, re: quantitative easing. I'm saying that idle coin is kinda useless, and people being buried with their coin sucks for the rest of us.

I'm a bit worried ASICs and/or other niche tech might screw bitcoin up by centralizing where and how the transactions are processed.