Isn't that Bitcoin, after the subsidy is reduced to nothing? Can you think of a better way to perform the initial distribution of p2p money? I can't.
Actually, yes I can. I have a
concept discussion thread here if you are interested.
Bitcoin is still sinking in for me but I think you are all being impatient. Bitcoin has only existed as a open-source project for two years. It has done very well in comparison to similar open-source innovations. I don't get the fuss over "a lack of adoption" when it's doing just fine.
It's not about how far bitcoin has come. I'm interested in how much farther it will go. The initial Darpa grand challenge was very impressive. However, no car got to the intended goal line. The second grand challenge seemed less astonishing after the first. However, cars actually got to the goal.
I'm not really opposed to fiat currency either. I do however agree that there are a few flaws with that system. If you could eliminate those flaws in a new system while keeping things that work and not introducing new major flaws, I'd join that. If this is done through fiat or some other means really doesn't matter to me.
Perhaps you'll consider commenting on my above thread?