Crypto-Currency as a tool for Living Income

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Blaž Cegnar
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Joined: 13 Jun 2011, 20:36

Crypto-Currency as a tool for Living Income

Postby Blaž Cegnar » 30 Nov 2015, 02:20

In the current system, changing anything in relation to banking and money creation demands great effort from many people and as we all know, the banking cabal is not keen on losing the tool that makes them rich and powerful. Thus changing the old banking system will still take some time. But what I see as a better and easier solution is to use one of the new crypto currencies, or even create a new one, with the purpose of distributing everyone on Earth (or at least to those who have access to internet at first) a Living Income Guaranteed. How the system would work is very simple. We would create a limited number of crypto coins, like they are created now, enough for every person on Earth to use and receive a monthly guaranteed income. The amount of the living income received would be regulated in relation to the current value of the currency in the system, so that the amount would be enough to cover for the basic needs of a person, like food, clothes, rent, health care and education, starting small and gradually becoming higher. The way money for living income would be obtained is through a single "Life Support Tax" that would be paid on every transaction of the crypto currency. The amount of the tax would be very small and could be calculated based on the average transaction amount per month in the system, so that enough "Life Support Tax" money would be collected for everyone to receive a living income. This way we can leave the old system to fade away as we can create the new crypto currency by ourselves or use an existing one. The living income calculation and distribution would work automatically. Of course, one person could only receive one living income. So the holder of every account would have to be transparently identified to prevent unnecessary greed. Whenever you create your first crypto currency account in the system, you would be eligible to receive your living income. Obviously in the beginning, the amount would be very small because there would not be a lot of activity yet in the system when the crypto currency is first created. But it would get bigger as the system would spread and the currency value would rise.

So, what do you all think? Where do you see any potential problems, what are the solutions and how can we make this work?

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