"Credit" A coin of no real value?

[travbm]

1: What if you started with a coin with no value and no set number of coins being zero to start out with?

2: How it would work is you trade something such as a good or service. The persons pays in credits based on what both parties agree upon,

3: Let's say I have an idea to Grow food in deserts with a good humidity of say 20% by using modified solar chimneys to condense said water to grow crops where it does not rain much. I want 50,000,000 credits for my idea.

4: So I send the idea to a buyer willing to pay that amount and I receive that amount in my credit account.

5: Once done there are no set credits so they are issued out by consumers to buy products and services.

6:A credit is only worth whatever you can buy with it being however it takes to buy a product.

7: I had thought of a math formula for calculating a credit's net worth.

8: The number of existing credits being fifty million times one billionth equals a value the dollar value. The capping number might one day be regulated by governments to determine the value of the currency as they will. But would still be a free currency for people to trade with based on decentralization.

9: Standardized valuation of an electronic currency might lead to greater stability but would probably be a boring coin. And would that make it a ponzy scheme?

10: It would have no central bank just individual accounts. The only thing intended to change of value is the free market price of goods and services.

11: Securing accounts could be done mathematically through a cypher that is mathematically scrambled and encrypted. One example would be a four letter cypher; AGTC would be the building blocks. But you can make any letter of the alphabet using combinations of those four letters.

12: One way to scramble the code is drop the last letter of each letter. The next way would be to use an algorithm to replace the last letter with a number. That number would tell the algorithm what the letter was. Numbers could be used in the same code.

13: Another way to scramble the code is to take the end numbers left to right and re-stack them into a new code.

14. Letters that repeat could be dropped and let be represented as a, 1, 2 the numbers then indicate how many a's there are following the first. this could end when you have : to show it was the end of the block or put the (a,1,2) for the cypher encryption for blocks or chains of code being encrypted to make it more secure.   

15: The pass code for transactions is sent using the cypher both parties agree on the pass code to verify the transaction. Or using some other secure method of transaction.

16: That was just part of an example. Feel free to call my idea what ever you want and feel free to comment.

17: One more thing, I also thought it might be a good idea to store accounts on non RFID chip cards that would be compatible with ATM and bank cards. The account could just exist on a single card and many accounts could be made to sell re-loadable gift cards and work interchangeable with debit and credit cards using existing technology.

18: Other accounts could be placed on smart phones using sim cards I suppose.

19: To verify a transaction both accounts signal each other a verification code saying the transaction takes place and deciphers it and add and subtracts the correct amounts. Hopefully using point to point computers that were used to verify the transaction to mine themselves rather than needing huge servers for things like in bit coin mining?