- With automation, the cost of labor decreases to practically 0. The benefits of that labor also increases. Therefore, it should be possible for people to do practically no work but maintain the highest standards of living imaginable.
- Currency needs to grow with demand to avoid deflation (and shrink if demand decreases to avoid inflation). If there is too much currency for demand, you get inflation. Too little, deflation. The new currency generated is actual money that can be spent --- roughly the growth in the economy that uses the currency. As such, it should be possible to simply issue everyone a per capita proportion of that increase. This may be enough to sustain living if the economy is growing fast enough.
- Central bank. The bank needs to insure that there is not too much or too little of the currency. The bank also writes dividend checks to people.
- Possibility: The bank pays people for work in addition to the growth in money supply, thus ensuring that essential tasks are always handled.
- Open trading. Complete freedom in transfer of currency. I suggest an approach that allows transactions to be completely anonymous. Namely, people don't know where the money came from or where it went, exactly. Also, it should be trivial to check whether money has been transferred or whether it is possible to do so using a two-phase commit approach. It should also be possible to write checks or issue physical currency without the risk of forgery and counterfeiting.
Phase 1: Capture the attention.
This phase's purpose is:
- To build a loyal following
- To kickstart the currency by getting it into as many hands as possible.
- To show that the currency is worth people's time and efforts.
- Customers come to the site to read content and share with each other.
- Each customer is issued a daily amount if they visit and accept it.
- They can do some work to receive an increase in pay.
- The site generates revenue through advertising.
- The site pays content generators a portion of its revenue based on how popular the content was.
- This will give the currency weight and get it passed out into the world.
Phase 2: Food and critical resources.
This phase's purpose is to show that people can live off of this currency alone.
- Sell food
- Sell internet
- Sell critical economic goods worldwide
- Pay people to make food, internet, etc... with the currency.
Phase 3: Self-governance
The idea here is to gradually take over or secede from governments.
- Military might
- Political might
- Popular might
The promise of citizenship:
- You get a daily check that can be used to purchase food, shelter, etc...
- You can buy and sell freely, no taxes or limitations imposed by the government.
- You do not owe the government anything. Whatever the government needs, it buys with generated currency.
What happens if there is too much currency for the economic output?
- The prices of things will rise.
- As long as it isn't rising too quickly, it's not an issue.
- The government should be able to sell basic things (food, shelter, etc...) for a constant price, fixing the price on those key goods. If need be, ration how much people are allowed to use. If other things rise too much, let it go.
- If we're issuing too much currency through spending, spend less. Learn to get by with less basic services.
- If we're issuing too much currency through income grants, stop growing it or maintain it.