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Ask HN: Basic income and digital currencies ?

3 points by sunseb ↗ HN
Bitcoin is a scarcity-based currency, it's kind of a deflationary spiral, people save and don't spend their bitcoins...

So, why not a digital currency implementing this trending idea of a basic income for all ? For example, registered users could receive a monthly income they could spend on the network.

http://en.wikipedia.org/wiki/Basic_income

I don't know if it's a bad idea (I guess so), but I just wanted to share/ask.

1 comment

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svedlin
This is an excellent idea. This could instantly create the kind of huge network effects that would surpass a lot of other mediums of exchange.

Something similar is being done by Auroracoin (http://www.auroracoin.org/) in Iceland:

"Auroracoin is a cryptocurrency for Iceland. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, commencing on midnight 25th of March 2014."

Adding a recurring revenue stream built into the protocol would be interesting.