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Have you ever considered flipping your idea on its head? Instead of tying the value of money to what happened in the past, tie it to what may happen in the fut

Have you ever considered flipping your idea on its head? Instead of tying the value of money to what happened in the past, tie it to what may happen in the future. If I have the choice today to spend a dollar with a polluter vs a non-polluter, instead of punishing the polluter in the far future, reward me for making a good choice. How? Make money decay back to those that spend it through the accounts of those they spent it with so that they are rewarded more if they spend their money with 'good actors' that constantly increase the value they provide. Read more at http://catallax.info http://catallax.info

roymurdock 11y ago
Information asymmetry. How do I know who will be a polluter, a murderer, an immoral person, or a criminal in the future. You're creating friction rather than reducing inefficiency. I'm not going to do some pyschoanalytical research on the guy who is making my sandwich at subway as well as dig around for the company's (probably bad and definitely unavailable) track record of food wastage and then decide whether or not to pay him and the company for my sandwich. Also, the current monetary system already has the idea of "decay" built in due to the Fed targeting a 2% rate of inflation every year. Also, not being able to trade "prefs" strikes me as a silly idea; one that you can't enforce and that a black market would form around relatively quickly.
- skilesare 11y ago
  >Information asymmetry. How do I know who will be a polluter, a murderer, an immoral person, or a criminal in the future. You're creating friction rather than reducing inefficiency. Exactly! You don't know. But you don't know now either. In the future the market will know. And why should the subway shop that the polluter bought a sandwich from be punished after the fact when we find out he is a polluter. Instead, throw the guy in jail and fold the blockchain over him so that the sandwich shop is connected to the original person that unknowingly paid the polluter. You can't know, but you can guess. It isn't even that hard. And while you are trying to guess all the sandwich shops are showing you why they are the most profitable and why they can deliver you the most value. >Also, the current monetary system already has the idea of "decay" built in due to the Fed targeting a 2% rate of inflation every year. Inflation is unpredictable and under less control than now appears. See 1970s. Predetermined decay is a carrying cost. Unexpected inflation is a theft. >Also, not being able to trade "prefs" strikes me as a silly idea; one that you can't enforce and that a black market would form around relatively quickly. This is just a technical issue that building on a blockchain solves. Post transaction data analysis can find collusions.

roymurdock 11y ago

Information asymmetry. How do I know who will be a polluter, a murderer, an immoral person, or a criminal in the future. You're creating friction rather than reducing inefficiency. I'm not going to do some pyschoanalytical research on the guy who is making my sandwich at subway as well as dig around for the company's (probably bad and definitely unavailable) track record of food wastage and then decide whether or not to pay him and the company for my sandwich. Also, the current monetary system already has the idea of "decay" built in due to the Fed targeting a 2% rate of inflation every year. Also, not being able to trade "prefs" strikes me as a silly idea; one that you can't enforce and that a black market would form around relatively quickly.

skilesare 11y ago
>Information asymmetry. How do I know who will be a polluter, a murderer, an immoral person, or a criminal in the future. You're creating friction rather than reducing inefficiency. Exactly! You don't know. But you don't know now either. In the future the market will know. And why should the subway shop that the polluter bought a sandwich from be punished after the fact when we find out he is a polluter. Instead, throw the guy in jail and fold the blockchain over him so that the sandwich shop is connected to the original person that unknowingly paid the polluter. You can't know, but you can guess. It isn't even that hard. And while you are trying to guess all the sandwich shops are showing you why they are the most profitable and why they can deliver you the most value. >Also, the current monetary system already has the idea of "decay" built in due to the Fed targeting a 2% rate of inflation every year. Inflation is unpredictable and under less control than now appears. See 1970s. Predetermined decay is a carrying cost. Unexpected inflation is a theft. >Also, not being able to trade "prefs" strikes me as a silly idea; one that you can't enforce and that a black market would form around relatively quickly. This is just a technical issue that building on a blockchain solves. Post transaction data analysis can find collusions.