Yet all existing monetary systems are also illusions. They are illusions that people have agreed upon and come to believe in. My proposal is also an illusion (just as Bitcoin is) and it is one that people could also decide to agree upon and come to believe in.
A bank triggers an algorithm, moves a number to your account, and tells you to spend the next X number of years paying that number back. Are you seriously suggesting that this isn't an example of stealing the only thing that really does have value - our time and energy?
Monetary systems which preserve the scarcity of resources are not illusions, because they work.
Your idea is to allow anyone to steal resources.
Please stop spamming my thread. I created this thread. I put a lot of effort into this thread. Please make another thread to debate your monetary theories. This thread is about decentralization of global ledgers, not about the monetary theory that we don't need a global ledger.
Please.