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March 31, 2014, 06:10:00 PM |
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Now that the power of cryptos is clear, they should be considered as a way to test different monetary systems. Of course, we are already testing new ones introducing concepts like rewarding technical skill and processing power. Perhaps dedicated supporters of traditional and innovative economic theories can create altcoins that support what they believe. Bill Still just posted a youtube video about someone discussing a gold-backed one. I personally am interested in one that uses the principles of binary economics, empowering all who voluntarily participate with productive credit. I posted about it on the ethereum forum, I guess I will put that info in another post here. And even though it does not totally represent their theories, the Zeitgeist people could make a coin. Perhaps they could get everyone in their community to pool all of their resources and get a central computer to decide who gets what, and how many coins. Keynesians could create their coins via fractional lending. Georgists could tie their coin to land, etc. Again, I know there are not always direct correlations between the theories and what can be done with the coins, but it can get most closer to proving their points. Each could have a foundation and give all the wonks a new reason to argue. This way the market can decide the best system. There have been many great minds dedicated to this issue for centuries, and it may greatly benefit humanity to combine their wisdom with the frictionless global exchange, security, non-trust, etc. features of crypto-currency.
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