I've posted on this in another forum: <
https://bitcointalk.org/index.php?topic=429437.0 > but this one may be better suited to getting discussion going.
There is a concept of guaranteeing every person a free minimum income.
- Advantages include countering extreme poverty and providing buffering against deep recessions/depressions.
- One justification is that a capitalist economy takes some value from all, by imposing externalities on all (pollution, loss of natural beauty, loss of access to formerly unowned land, etc).
- Probably the largest objection to guaranteed income is that it has always appeared that it would have to be created by a government, which would take from some in order to give to all.
My thesis here is that it might be possible to create a crypto-currency that provides a
totally voluntary, non-governmental, world-wide guaranteed minimum income.See the link above for some discussion of some technical attributes of such a coin system.
The biggest issue appears to be how to prevent fraud by double dipping - creating multiple fake accounts to generate multiple streams of free coins.
One approach would be to somehow tie participant accounts to their real identity. Again, I've proposed a few ways that might be done in that other post.
Can anyone see any way to make this work, without tying coin creation to true identity? Maybe some sort of "proof of work by a real human"?