Topic: imagine you could reset money creation (Read 392 times)

Everything can be priced in everything else. Fiat is simply the easiest at the moment because everything else is currently priced in fiat.

If we, as you wished, used the BigMac index instead, people would just be forced to do the math in their head to figure out the price...


If it doesn't happen organically, it's just another fiat currency.

forget about fiat value... because your still measuring bitcoin against fiat..
thus keeping fiat involved in the debate.

if however we were to measure bitcoin directly against COL(cost of living) like measuring bitcoin as 450 loaves of bread. with no mention of fiat, then there would be a point.

im talking about a thought experiment of the social and politics of changing the world banking system to replace fiat with something better

Yes, I agree with you. Bitcoin started from nothing. Until some people believe and trust it. Slowly the value rises and look at bitcoin now,it is traded nearly $700 dollar and at one point, it reach $1000. From nothing, satoshi created something and created opportunities too.

There is something fundamental about the world that most people seem to miss. It doesn't matter what you change in the system, you'll always end up with a variation of the world we know today. Maybe winners in the current world would be losers in the world you create but everything would still be exactly the same.
There is no difference between your desire of a fair world and for example the elite's desire to stay rich when you strip all of the righteousness/nastiness from people, the lowest common denominator is desire itself. The problem is that you can't fulfill everyone's desires at the same time. For example, while you might have a simple desire to live without bothering anyone, your neighbor might desire that you die and you can't control what your neighbor desires. Desires will always clash because everyone wants what's best for themselves completely disregarding others. Which brings us back to square one, law of the jungle. The strong and smart will stomp on/manipulate the desires of the weak and dumb.
Decentralization or whatever money creation system you devise won't work, the problem is with the very building block of the world, individual people.

Organically. Bitcoin is a great example. At first it had no value, then people started trading other items of value for it.

this is a thought experiment.

imagine you had control of a countries economy and could revolutionise how money creation is done.
explain how you would prefer money to come into existence
explain who, when and why X should get it.

EG one
funds creation:
multisig. based on birth certificate registration between 2 parents and the birth/death registration office. (2 of 4 multisig)
funds created at signing birth certificate and locked.
funds usage:
released at set times EG 25% rate of national minimum wage(yearly total) is released per year (covers unemployment/state pension) from birth to death.
money creation value:
£$4k a year. making £$300k money creation per person living 75 years

EG two
funds creation:
multisig. based on birth certificate registration between 2 parents and the birth/death registration office.
funds usage:
funds are accumulated based on education. where if you attend education everyday you get extra credit. if you get C or above you get extra credit.
funds are unlocked by the employer "buying" your locked credit to then pay you.
thus the better you do in school the better locked credit you have and thus better job you can apply for to get paid better.
money creation value:
back luck at school: £$4k a year. making £$300k money creation per person living 75 years
good attendance C+: £$6k a year. making £$450k money creation per person living 75 years
good attendance A+and degree: £$10k a year. making £$750k money creation per person living 75 years

in both cases i could go into more details. but lets see what creative idea's people can come up with as a new national monetary system

take into account things like lessoning the requirement on taxes to cover poverty, while also helping people better themselves