Quote from: rpietila on November 22, 2013, 11:41:20 AM

Quote from: AnonyMint on November 22, 2013, 11:34:07 AM

I am thinking the faucets are for people in the developing countries. They don't have a computer to mine with, but they have a cell phone. If we can leverage the cell phone somehow to make sure the faucets are not being gamed by the large capitalists, then I would be very happy if we could distribute say 10% of the coins to the developing world, then 90% to mining.

That would create unfathomable network effects.

I think we should distribute them daily or weekly, so the recipients can spend them (or save them) on everyday things. This should or may drive transactions and merchants through the roof and make our coin so much better than Bitcoin.

What you need to do is to make them destroy the same value when they gain the coins. Digging holes, taking pictures of them and filling them? Slaying WoW monsters? Turning electricity to heat? Extract minerals from the ground?

This makes it equitable, and the rich will just buy it from the exchanges.

Even waiting in the line will qualify for opportunity cost..

Damn the fart of Keynes is suffocating me...

It is mathematically impossible for large capital to always accumulate. Eventually you would own everything and there would be nobody to transact with.

This is why periodically there are debt-writedowns and the millionaires are fleeced by the $trillionaires who control this world. The $trillionaires then make sure they issue debt to the masses so the masses can transact so the $millionaires can rise again.

This is a hamster wheel, and you will not win Risto. They will fleece you.

Society will not tolerate the system you imagine is true, because it can't exist. It doesn't.

So how do we best distribute capital such that the real productivity in the economy is most incentivized?

That is what is really boils down to.

I am not a socialist. I don't believe we can motivate people by giving them something for nothing.

But how do you make a decentralized currency work, so that the knowledge creators can leverage it?

You've got to distribute it widely and create network effects.

Otherwise the $trillionaires will do it. They will issue debt to the masses on our behalf. Then we lose decentralization and they maintain control.