Could a Minimum Income Cryptocurrency Nuke Bitcoin?
Achieving Minimum Guaranteed Income with a Cryptocurrency Suppose we were to create a new cryptocurrency in which EVERYONE who participates, gets free coins on a regular basis. 1 a day to start, eventually perhaps 10 a day. Call it NewCoin (TM) - "Newk" for short. (FreeCoin is sort of taken, or it could have been "Freeks") Declare a starting value of $1 for simplicity. Or 1 euro. It will float with market forces, but should not change as rapidly or as much as Bitcoin (TM) has. It isn't intended to be a speculative instrument, nor a long term store of value. With NewCoin, there's no need for government involvement to establish a guaranteed minimum income. The prospect of regular free money for anyone signing up should make this currency very popular, taking off with consumers FAR faster than Bitcoin has. [Yes, I know, somehow we'd need to make sure no one is able to sign up multiple times....