Yes, there are a lot of unsupported assumptions due to my limited time to explain. Some of the questions I failed to answer to the extent that I would like:
- how do you bootstrap such a system
- why would someone participate in such a system
- how does the system maintain profit motive
I will have to dive into all of these topics in greater detail.
@dantheman
I do like your concept. I can say that my wife and I have been in the overspending group for awhile and are working our way back to not overspending. Yet, if there was a system ike this in place where a part of living was covered I do believe like you said things would be better for all, then the work we do would ad quality to life. I think there needs to be a much better system inplace and it looks to me like some of the work being done through cryptocurrencies is a huge step in the right direction. I would love to see the answers you have to those 3 main point you did not yet get to touch on.
I think I just found a way to answer my own question. The BIC that is issued daily would need to have a life time expiration so a whale could not hoard the coins to price manipulate the market, as in the coins are valid for lets say 1 day or 1 week, to give them time to be used yet not hoarded