Everyone is focused on how much money they can make from investing in cryptocurrencies, but we need to also consider some deeper questions. We need to ask ourselves if cryptocurrencies truly will liberate the world or hurt it.
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WHAT IS THE BEST CRYPTOCURRENCY EXCHANGE?
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Hard to tell, isn't it.
I believe the ultimate currency won't obtain it's value in the free market, but will in fact have a value related to reality somehow.
Thanks for commenting clickety!
Interesting, I tend to believe that physically-backed tokens don't work well for international trade. The reason is that regional governments are able to control physical items and put whatever laws they want on them. Part of why cryptocurrencies are so independent of governments is that they are not physical and can't be confiscated at an airport, boat or border security checkpoint.
That is just my perspective. :)
I was most surprised the other day when I learnt that when when Hitler broke away from the international banking system, he set the Reichsmark on par with an hour's work, and that it was on that basis that he rebuilt the German economy within a matter of a few years to the height it achieved between the wars. I have not double checked it, but that's the story!
Anyhow, what I have in mind is an insulated trading platform for real goods and services, that can only be traded in this market using a unique token that exists only on this platform and that by consensus has a purchasing power for one unit of energy. The value of the coin will be further protected by limited the amount available to each account holder. Energy is the parity of choice, because energy is a dominant component of the production input of mass produced essential goods and will become even more so the more production is automated by means of robots.
A closed off economy like this will be inflation proof and the value of especially high energy input essential goods should be quite stable, as the market will quickly notice when any product is sold for an exorbitant profit, giving competition enough motivation to move in.
Because the relationship between energy and production is for all practical purposes stable, this should give us an economy that is stable in the most critical part of it, namely the supply of essentials, on which the poor and people like pensioners heavily depend.
O, and what I forgot to highlight is that such a coin will to a very high degree be free from market influences on it's value and will effectively be a link to reality for that economy. There will exist only a fixed number of tokens per capita circulating in this trading environment. None of these trading tokens will ever leave the system. Taxes cannot be levied, at least not in a monetary form, and should an account holder run out of tokens, that account holder will be incentivized to be productive and sell something in order to regain purchasing power.
@clicketyclick
Actually, pairing energy/electricity to currency is a very good idea. I've thought about this as well, that the currency unit would be in joules. Its a fascinating concept, one that I thought Power Ledger was, but its not actually that.
Very cool idea.
Thanks for your reply @hobo.media.
My preferred unit is a unit of electricity = one kiloWatt-hour, sub-divisible to maybe to one Watt-hour, seeing that a very large portion of possible users will be familiar with this unit and electric energy is a form of energy that is widely used in production and easily measured with meters widely available.
With the price of electric energy being only a fraction of a USD, I guess, comparing values of tradable items in USD, that it would not make much sense dividing it into smaller units for popular use. (A Watt-hour currently costs around 0.01c in California, I believe)
What do you think?
I think this has been on for a while. Lots of When Moon, and not many asking how we can be more privacy and stuff.