Solve my World

Design a Stable Currency (No Inflation or Deflation)

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https://steemit.com/cryptocurrency/@littlejoeward/cryptocurrency-with-little-to-no-inflation-or-deflation

Purpose of Money (To store the value of our working time)

Attributes of a good currency

  • Transported
  • Spent
  • Hold Value
    • Problems with Inflation
      • Money loses value over time
      • Problems with Deflation
        • New users to the system are penalized
        • Hoarding is encouraged, potentially leading to a deflationary spiral

          • How to create a true stable coin (Match Supply with Demand)

          Tie to the worth of human time

          • Money represents our working time so the value should follow human working time.

            • Design of System

            Stable Coin - Tempus (Time)

            • Maintains stable value in relation to human work time
            • Users mint new coins by proving they are human and spending time

              • Shares

              • When new coins are minted, a percentage goes to shareholders.
              • New shares are created (5% annually) and sold for tempus that is burned

                • Increasing supply

                • Users mint new coins by proving they are human and spending time
                • For every new coin minted by users, a percentage is also minted and given to shareholders (or perhaps just used to buy and burn shares?)

                  • Decreasing supply

                  • Steady rate of burn (In theory, if there is a constant rate of burn then we should avoid the “death spiral”)
                    • Inflate shares to buy and burn tempus

                      • Proof of Human Work

                      • Captcha market (I don’t really like this idea but it’s the best I’ve got so far)
                        • captchas that prove you are human
                        • Users are given a random captcha to prove they are human and mint new tempus
                        • captcha developers get paid with bonds that mature at a later date (1 year?) and can be seized if the captcha is shown to be cheating the system
                        • Bounties for discovering cheating users/ captchas
                        • captchas must burn tempus to be listed/they must pay users out of pocket for an amount of time (1 Year)
                        • Maybe try to determine the value by analyzing the fees people pay
                        • Some other way to find how much people value their time

                          • https://docs.google.com/document/d/1y3KQjNfxk73xKQQEx3uLIuglmGEp5TeRTJAu13lhHSs/edit#

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