Quote from: HugoStone on November 17, 2016, 08:44:23 PM

Quote from: iamnotback on November 17, 2016, 07:25:20 PM

There is nothing worth grasping. Just nonsense. He doesn't prevent double-spends in his system.

If we have a system where everybody can lie about the value of money, then money loses its key properties of fungible unit-of-exchange.

No, you have not read my proposal properly. If you read the PDF version then you'll see that I've questioned the need for 'bitcoin' to exist at all. Even so, in a system whereby everyone can perform the function currently performed by banks (i.e. creation of bank credit money with a push of a button) and bitcoin miners, the very concept of a 'double spend' becomes completely irrelevant. See my other comment: https://bitcointalk.org/index.php?topic=140793.msg16896845#msg16896845

Rebutted:

Quote from: iamnotback on November 18, 2016, 03:35:58 AM

Quote from: HugoStone on November 16, 2016, 05:59:32 PM

If this sounds like madness to you then consider what happens when you walk into a bank and ask for a mortgage. The bank pushes a button, transfers a number to your account, then tells you that this number represents a 'debt' and that you must spend the next 20 years paying off that debt. Who would possibly accept such a system?

My system would be an illusion, just as the existing system is also an illusion. The difference is that my illusion works to everyone's advantage.

There is a profound difference between the two "illusions". The first one is not an illusion because it is stabilized by a power-law distribution of wealth, i.e. a power vacuum has been filled so that society can function. Whereas, yours is commonly known as communism where "we can give away from free, what is not free" which results in the end of all production and megadeath.

STFU idiot. You are not smart.

You are spamming us with offers of megadeath. Thanks a lot!

Quote from: HugoStone on November 18, 2016, 02:22:55 AM

Have you read it? I mean actually read it and thought about it, not just skimmed through it dismissively because it's not consistent with your existing belief system? As for my comments, if you do not like them then do not read them.

Please stop thinking you have an original idea. Karl Marx beat you to the concept by a few generations.