Why don`t we all make the supply?

[Pizzalover420]

We have fiat where a few make the supply.
We have bitcoin where people with fiat make the supply.

Why not a supply we all make?

We could distribute 1 hour coin an hour or 1 second coin a second to unique addresses per person. So instead of being slaves to one mans supply, we all generate it fairly.

[jackg]

But why?

You could always make one of these yourself an dpish it out for adoption without much changes or code need but it probably won't be worth anything.

You'd also need a function that stops someone from making an infinite number of wallets and sending the coins to their main one...?

[franky1]

well if you put effort in you get income out.

in bitcoin if you have an asic you will get a share of the reward your pool gets

oh wait i think you must be wanting to talk about PoS mining where you dont put effort in but just 'be available' for a time period hoping to get paid for nothing

[suchmoon]

we all generate it fairly

Who's "we"? How many bitcoins are you personally distributing through this cockamamie welfare system of yours?

[Pizzalover420]

But why?

So we have a legit cash for once.

Why let one or a few create all the supply? and the rest slave for it.

Right now we have Joe creating unlimited supply and we work for Joes supply, when we could have joe and me create 1000 supply and work for each others.

[Pizzalover420]

well if you put effort in you get income out.

in bitcoin if you have an asic you will get a share of the reward your pool gets

oh wait i think you must be wanting to talk about PoS mining where you dont put effort in but just 'be available' for a time period hoping to get paid for nothing

We are all slaves to rothschilds supply, he does nothing. He presses a few digits into a computer and poof he can buy all the peoples limited time, goods and services for free.

Yes it would be like POS where your address is your stake and everyone has the same stake of 1.

[Pizzalover420]

we all generate it fairly

Who's "we"? How many bitcoins are you personally distributing through this cockamamie welfare system of yours?

We the people. The general public. Any willing participant.

Not bitcoins, a new coin, everyone makes.

[Pizzalover420]

For the people that will say it will be worthless, my farm will always accept it for fruits and veggies. It will always have a worth. My farm does not accept fiat or bitcoin.
 
I will be satisfied knowing you had to wait to generate your supply. That you can`t just create it out of thin air like the current fiat.

[Mauser]

We have fiat where a few make the supply.
We have bitcoin where people with fiat make the supply.

Why not a supply we all make?

We could distribute 1 hour coin an hour or 1 second coin a second to unique addresses per person. So instead of being slaves to one mans supply, we all generate it fairly.

But why do you want to sell your bitcoins? Just to drive the prices down I am happy to hold my coins and would rather buy more than sell. If there were attractive opportunities I would sell more of my fiat money.

[franky1]

well if you put effort in you get income out.

in bitcoin if you have an asic you will get a share of the reward your pool gets

oh wait i think you must be wanting to talk about PoS mining where you dont put effort in but just 'be available' for a time period hoping to get paid for nothing

We are all slaves to rothschilds supply, he does nothing. He presses a few digits into a computer and poof he can buy all the peoples limited time, goods and services for free.

Yes it would be like POS where your address is your stake and everyone has the same stake of 1.

but if you are just given free cash. without work. then that cash is worthless

if a peach farmer is given free cash while he sleeps. why would he get out of bed.
why would he want to sell peaches.

having free cash for no work, for all of your life will make people not want to work.. heck you yourself would not work if you had free cash, as your other topic you were crying about why people should get free $600 for a onetime deal. imagine your cries if it was $600 a week for the rest of their lives. you would probably become suicidal.

PoS does no work because there is no work. its just if you already have money you can stake it to get more money. and those that dont have money wont get money
PoS is the ploy of rothschild.(using your conspiracy buzzword)

PoW works because it has work.
because gold will always cost over $900 minimum because it will always have over $900 of mining costs. the supply/demand then plays with speculation from $900-$2k depending on human desires. but golds underlining value due to the costs of its mining will keep it at $900+
if gold could be found at 2 ounce every 10 minutes using nothing more then a dinner spoon. then golds underlining value would be $1 and speculated at $1-$3

same with bitcoin. if you put the work in, that work has a underlying value.
heck even you as a peach farmer should know these basic principles of workvalue

[BADecker]

We have fiat where a few make the supply.
We have bitcoin where people with fiat make the supply.

Why not a supply we all make?

We could distribute 1 hour coin an hour or 1 second coin a second to unique addresses per person. So instead of being slaves to one mans supply, we all generate it fairly.

Because people simply aren't using their imagination with this technology.

For example. The blockchain makes it difficult to trace who the people are making transactions. Why not make a blockchain where the people can be identified? After all, we are men and women living in the world. Are we going to stand up and live? Or are we always going to be cowering in the shadows?

For another example. Get rid of mining. After all, fiat is created by people taking out what they think are loans from banks. Why don't we figure out a blockchain that creates more coin simply by usage rather than by mining or minting? And the coin created doesn't have to be limited to the creator of it. Use your imagination.

For additional example. Why not let coin be created through a computer coin client that makes people accurately type in codes that they view on their client screen. And don't say that this would give the fastest typist more coin. There are all kinds of ways to limit the creation of coin this way, so that no single typist could get supremely rich over it.

[Pizzalover420]

but if you are just given free cash. without work. then that cash is worthless

if a peach farmer is given free cash while he sleeps. why would he get out of bed.
why would he want to sell peaches.

We have welfare and disability already. It is the same thing. In a age where machines are taking most of the mens jobs it is a good idea to have a universal basic income that is legit.
3% of the workforce will go out of work in the next 10 years to automated cars. What are they going to do? what are all the grill guys at mcdonalds along with all grill guys in the world going to do when someone makes the self flipping hamburger machine? The employers will opt into paying a machine no min wage over the rising cost of min wage.

People would work to earn more. To buy the finer things in life. In fact I refuse to work for bitcoin or fiat at any wage.

[Vod]

having free cash for no work, for all of your life will make people not want to work.. heck you yourself would not work if you had free cash

Depends on how much free cash.

Universal income experiments have shown a reduction in crime and health care issues.

If you are too sick to work, you do not have to worry because you have food and shelter.  But if you want the new iPhone, you'll need to work.

The US spends $10,000,000,000 a month on law enforcement.    With that money you could give the 10 million poorest citizens $1,000 a month.  If you assume 1% of people commit 50% of the violent crimes requiring law enforcement, then you expect to recover 40-50% of those payments in reduced crime, trials, jails, etc.

[theymos]

A decentralized cryptocurrency probably can't do that because you can't separate out real individual people in a decentralized way. You need a central authority to say who on the network is a different person.

Maybe a CBDC will try it at some point. In fact, central banks have cited the ability to do widespread, instant "airdrops" as one of the motivations behind creating CBDCs. (Such airdrops would be much more effective than asset purchases or interest rate controls at creating inflation, which central banks want to do and have been having trouble doing.) Economically, I think your idea would be the same as UBI funded by inflation rather than by taxation (ie. MMT-style). I don't think that the inflation funding is a huge problem, especially if the inflation it causes is predictable and not too high. The economic effects of UBI aren't clear, but I doubt it'd be completely catastrophic, at least. So the idea might be workable in some sense, and maybe it'll happen some day.
When I read your title, "Why don't we all make the supply?", I was reminded of a different idea for a decentralized cryptocurrency based on totally different principles from Bitcoin, though. (This is an old idea, dating back to at least 2012, and it's not mine.) An extremely brief summary of the idea is:
 - Everyone can create an infinite number of their own distinct currency. I can make as many theymos-coins as I want, you can make as many pizza-coins as you want, etc. Everyone also accepts only their own currency for work. If you want to hire me, you have to pay me in theymos-coins.
 - If I know you personally, I might say that I'll lend you up to 10 theymos-coins in return for pizza-coin collateral at a 1:1 ratio and 0% interest. This expresses a real-life trust relationship: I trust that you'll pay me back some day by either doing work for me in return for my pizza-coins or by acquiring theymos-coins elsewhere and paying me back using that, and I trust that you won't inflate your currency excessively. If I trust you or value your work more, I might accept larger loans, or at a ratio more favorable to you. If I trust you or value your work less, I might accept smaller loans, or at a ratio less favorable to you, or demand a rate of interest. Each pair of people would have different trust relationships, and usually no relationship at all (ie. they would not accept these loans from each other).
 - If you want to buy something from Joe, who you don't know/trust, but Joe and I trust each other & you and I trust each other, then you can do this by having me borrow Joe-coins from Joe, and then you either trade or borrow those Joe-coins from me. Then you have Joe-coins, and you can buy from Joe.
 - In theory, the entire world would be connected by a global trust graph, so everyone could trade with everyone else freely through a few steps.

One reason why this system in particular is interesting is that it can be done in a perfectly decentralized way without a blockchain, or proof-of-stake, or anything like that. In other words, this system could be in several ways more decentralized than Bitcoin. The downside is that it's more complicated, and you'd occasionally experience various failures in localized areas of the trust graph (eg. liquidity limitations, spreading insolvencies, etc.), and these failures are difficult to predict, model, and deal with. The failures could perhaps be made very rare through excellent software, though this system might require you to accept some background rate of failures. (You might've noticed that the whole system is very like the Lightning Network, though LN is easier because it can be based on a single stable medium of exchange and a reliable ultimate base layer.) I've been disappointed that nobody has seriously tried to implement this idea, even though it's been around for ~10 years.

[franky1]

A decentralized cryptocurrency probably can't do that because you can't separate out real individual people in a decentralized way. You need a central authority to say who on the network is a different person.

it can be done. the currency can be decentralised. the issue you are concerned with is the registering of people to get a privkey.

this does not need to be a central birth registry department offering crypto keys instead of social security numbers. this can be down decentrally by maternity wards. every birth is registered by a doctor and a cryptokey is made and handed to the parents.

people can throughout their life then sign messages as their proof of id.

in my years i have used my privkey to sign messages to prove my identity. rather then needing identity to prove my privkey.
..
as for the game of trust.
well that would be where everyone creates say 4467600 coins (1 coin for every 10minutes of life for 85 years life expectancy) and that 'stash' can be spent.but also parts of the hoard can be locked(fined/taxed) if that person has wronged someone. much like how silk roadv1 locked up collateral and didnt release it back to the seller until the buyer acknowledged delivery. and where the buyers collateral is locked until they acknowledged delivery. thus making the buyer honest to admit they got delivery.

trust rating systems based on reviews does not work. but putting up collateral and being able to show your collateral gets released every time shows you are of good honour. those with a high amount of collateral locked up passed expiry shows they do wrong alot. also by not having collateral locked up due to mischievous acts means you then have more to spend.

eg a 1 coin loaf of bread contracts a 5 coin collateral lock. meaning your 5x better off just trading the bread honourably than to scam someone for a loaf. after all why loose 5coins over the sake of scamming 1 coin

[Pizzalover420]

A decentralized cryptocurrency probably can't do that because you can't separate out real individual people in a decentralized way. You need a central authority to say who on the network is a different person.

You don`t need a central authority ai software could do it. Sure someone needs to build the sign up stations but it can be done in a decentralized manner.

Step 1: Create places where account creation takes place. Have cameras that are live streamed to the blockchain and metal detectors to stop robots.
Step 2: Person walks in, machine scans their heartbeat or fingerprint.
Step 3: If human metric has not been used before *it backtracks the blockchain for dupes* person enters a pin and machine gives them a debit/credit card with their account.

The AI would be able to detect if the person is using a fake heart beat or if it comes from a natural source or automated.

https://www.technologyreview.com/2019/06/27/238884/the-pentagon-has-a-laser-that-can-identify-people-from-a-distanceby-their-heartbeat/

[Pizzalover420]

Step 3: If human metric has not been used before *it backtracks the blockchain for dupes* person enters a pin and machine gives them a debit/credit card with their account.

The AI would be able to detect if the person is using a fake heart beat or if it comes from a natural source or automated.

I forgot to mention if there is two heart beats in the account creation room it would not allow account creation as it would scan and identify two different murmurs so it would not give them their card, so people can`t bring in a fake heartbeats.

[franky1]

Step 3: If human metric has not been used before *it backtracks the blockchain for dupes* person enters a pin and machine gives them a debit/credit card with their account.

The AI would be able to detect if the person is using a fake heart beat or if it comes from a natural source or automated.

I forgot to mention if there is two heart beats in the account creation room it would not allow account creation as it would scan and identify two different murmurs so it would not give them their card, so people can`t bring in a fake heartbeats.

the 'heart monitoring' as you describe it can be fooled because someone could just turn up at 2 different ocassions claiming to be an identical twin and appear as a heart beat and a single person in the room. passing the robot test.
and then instead of using the right hand thumb as a fingerprint test use their left hand thump to be identified as another person
..
the old fashioned birth certificate system works because it involved witnesses. such as the midwife and the parents signing their witness to the new identity. so generating a privkey via co-signed witnesses should be part of a process. and not just a 'only person in the room' thing

[Pizzalover420]

the 'heart monitoring' as you describe it can be fooled because someone could just turn up at 2 different ocassions claiming to be an identical twin and appear as a heart beat and a single person in the room. passing the robot test.
and then instead of using the right hand thumb as a fingerprint test use their left hand thump to be identified as another person

Even identical twins have a different heartbeat sig and there is no conjoint twins by the heart living. If and when there is, That is why we have the live video in the stations recording to the blockchain. A doctor will have to convince 1000 random sampled users that one heart beat is giving life to two people and the network will decide if it will allow two UBI`s to the same heartbeat. People will be able to look at the cam and see two people conjoint. As for the normal conjoint twins, a doctor and random sampled poll will be needed in their account creation.

Yah a manual review will be needed when there is a problem at account creation, the review would be done by 1000`s of participants on the network and they would get paid to do it as some of the network fees would be allocated to voting for the voters.

My idea is to pay people to vote. To have pools of network fees that voters vote on where they are used for things like roads or space exploration and they get a reward for doing so.

Anyways as for the identical twins problem, they both would have to show up in the booth and prove to the network there is two of them with the same heart beat, but I am pretty sure even identical twins have a different heartbeat sig.

[Broly46]

Just look at the money supply made by HUMAN make me angry. It’s making this life so horrible to live on, everyday life is getting so tougher it’s a plan to force everybody to commit suicide en mass, if we don’t have a strong wills to live we might have ended up rope already. Instead of rope, why not get down the street and challenge this oligarchs status quo?