thoughts on currency

[phillip1882]

i think the currency we have, fiat money, that has no upper limit, is not good for the economy.

it encourages over spending and makes the rich too rich.

a few ideas i've had for possibly a better currency;

a time backed currency, the number of hours in a year multiplied by the population, is the upper limit. minimum wage would be a 1 hour certificate in exchange for an hour of labor.

an energy backed currency; a certificate for each kilowatt or perhaps megawatt of electricity produced, the first recipients of the currency would be the people who make electricity.

i also like the idea of cryptocurrency, using mathematics to make currency.

[Vmedvil5]

6 hours ago, phillip1882 said:

i think the currency we have, fiat money, that has no upper limit, is not good for the economy.

it encourages over spending and makes the rich too rich.

a few ideas i've had for possibly a better currency;

a time backed currency, the number of hours in a year multiplied by the population, is the upper limit. minimum wage would be a 1 hour certificate in exchange for an hour of labor.

an energy backed currency; a certificate for each kilowatt or perhaps megawatt of electricity produced, the first recipients of the currency would be the people who make electricity.

i also like the idea of cryptocurrency, using mathematics to make currency.

I like all three ideas.

[phillip1882]

it is different. lets say half the population makes minimum wage, 40 hours a week.

thats 40*52*164,750,000 = 34,268,000,000

then lets say half of what remains receives a 2 hour certificate in exchange for an hour of labor.

that's an additional 34,268,000,000

then lets say half of that receives a 5 hour certificate in exchange for an hour of labor.

thats 428,350,000,000

after all this, total remaining is 2,389,534,000,000

and there are 41,187,500 people remaining. lets say its split evenly among them. the wage per person would be approximately 27 hour certificate for every hour of labor

[BobbySteeles]

On 9/19/2022 at 1:22 AM, phillip1882 said:

i think the currency we have, fiat money, that has no upper limit, is not good for the economy.

it encourages over spending and makes the rich too rich.

a few ideas i've had for possibly a better currency;

a time backed currency, the number of hours in a year multiplied by the population, is the upper limit. minimum wage would be a 1 hour certificate in exchange for an hour of labor.

an energy backed currency; a certificate for each kilowatt or perhaps megawatt of electricity produced, the first recipients of the currency would be the people who make electricity.

i also like the idea of cryptocurrency, using mathematics to make currency.

the currency should be in the form of energy harnessed freely from the earth and shown to those less fortunate... "Current "see is actually free, although "cash rules everything around me" so people in prominent positions should act accordingly.. Knowledge is power, and half the battle..so the more we all know the better our existence ya...Bobby

[phillip1882]

Quote

That’s the same as having no upper limit, even Jeff Bezos doesn’t have 13 zeroes 

21,709,200,000,000 is the total currency we have right now