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March 17, 2015, 05:34:44 AM |
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Now to offer my unsoliced thoughts.
1. Money creation.
The power of money should benefit the users. Not create a yoke of debt to bind them for life. In the current structure a few(very few) people get to create then spend the money into existence with interest owed on every dollar. This only benefit s the money creators . Because they then LOAN this money out there is not enough in circulation to repay the interest and principal both. Only solution borrow more money. This creates a system where some win . The lenders . And most lose. The lendee. And so most of the world's problems arise.
2 fractional reserve
Hold on this gets tricky. Seeing as how most people keep their physical money in a bank and very few withdraw. Banks said "hey we can loan out money that isn't there and no one will know so long as no one comes in to withdraw.". So they then loan out 9x Their deposits in the form of "credit" this is a hidden tax called INFLATION. And it only benefits the initial borrower because he has inflated dollars at market value. As soon as he spends ,ur money is worth less than it was seconds ago.
3 federal reserve
This is neither federal and no one can prove their reserve. It's actually a board of 12 shareholders secret to even the president. But I can assure u a Rothschild a Warburg and a Rockefeller hold shares . The purpose of this private multinational corporation is to determine the needed money supply, and the interest they charge each other for short-term loans. Not the interest rate on your house. Or your car .
4 centralized vs decentralized
In a centralized system one group holds the strings like the Fed or paycoin it's basically a premine of the entire coin. Decentralized is more like litecoin where no one is in control and it just runs wild. Neither of these systems can work because someone has to be responsible for their actions but too much control leads to conflict
The solution
A mixed system which puts money creation in the hands of the users (miners) but control of the supply in the hands of the scholars (the system) the system can't create the money and the users have no control over it's value. Give them the network give us the mines
Crypto makes money easy and plentiful sometimes too plentiful. And value is lost because there is no control only greed. Fiat gives us stability but yokes us into slavery. Because we have no power over it only servants. In my system the people are the masters and the system is the servant
To learn more search the altcoin announcement s for "The big idea or how to take this to the man"
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