Toshi on Nostr: Thought experiment: (This is all hypothetical, of course, but I would like to hear ...
Thought experiment:
(This is all hypothetical, of course, but I would like to hear some thoughts and opinions on this idea from hard money maxis)
Imagine that in 100 years we live in a world where people no longer have to work. Machines do everything we don't want to do. In this world everyone has a chip implant. The purpose of the chip is to count how much that person moves during the day. It is 99.9% accurate. In this world money is obviously digital and similar to bitcoin. There is no entity that can control this currency. The ledger is written collectively by the top 30% (I made this number up) of people who do the most physical work during the day. They can run, swim, cycle or whatever. And as a reward they get something like a mining reward like in bitcoin. Let's pretend that all this, or something like it, is possible (and it probably isn't).
But there is one caveat: every year you have 2% inflation. Nobody can change that. It's there forever. But remember: that money is not going to the rich. That money goes to those who put in the physical effort. Proof of work, basically.
Now my question: are you happy with 2% inflation?
(This is all hypothetical, of course, but I would like to hear some thoughts and opinions on this idea from hard money maxis)
Imagine that in 100 years we live in a world where people no longer have to work. Machines do everything we don't want to do. In this world everyone has a chip implant. The purpose of the chip is to count how much that person moves during the day. It is 99.9% accurate. In this world money is obviously digital and similar to bitcoin. There is no entity that can control this currency. The ledger is written collectively by the top 30% (I made this number up) of people who do the most physical work during the day. They can run, swim, cycle or whatever. And as a reward they get something like a mining reward like in bitcoin. Let's pretend that all this, or something like it, is possible (and it probably isn't).
But there is one caveat: every year you have 2% inflation. Nobody can change that. It's there forever. But remember: that money is not going to the rich. That money goes to those who put in the physical effort. Proof of work, basically.
Now my question: are you happy with 2% inflation?