Post
Topic
Board Development & Technical Discussion
Re: Thought experiment
by
d5000
on 20/09/2017, 09:46:40 UTC
Just giving one coin to each person would not give this coin any value.
As much as I would love to see a better distribution of wealth, in the real world this will never happen. And unfortunatly this idea cannot work.
But prove me wrong. Maybe you have a better idea to give this coin the value it needs.

I consider ideas more interesting that give every verified account holder "regular" incomes (e.g. some satoshis per month). You're right that a coin that is distributed "freely" in one single airdrop will have a hard time getting value. The main problem is that it is difficult that people would build an ecosystem on it, what is what gives cryptocurrencies a "value" - they would simply dump it when it has achieved some interesting price, the exact way Auroracoin failed.

But if a regular income appears, then for the account holders it becomes rational to at least keep the wallet for some time and use the coin. That concept can be combined with efforts to create a worldwide infraestructure (e.g. payment processing solutions, exchanges, e-commerce plugins). So I don't consider it totally impossible to create some "valuable" coin at the end.

The big - and maybe unsolvable - problem for me is a "un-gameable" identification process. As I already said, there would be a need to have a trustable identification provider in every country. Maybe private companies like https://www.trulioo.com/ or https://miicard.com could do the trick in the initial stage, but they don't work in every country - if such a service is available, in the future, in the whole world then a "worldwide basic income coin" can become possible. However, there is no way to make the process totally trustless.