If a citizen creates a legal entity, doesn't he get his second account?
The wine seller creates a legal entity "wine shop" and transfers the money from it into his citizens account whenever the shop get's any money.
Yes...this is possible. I would expect a legal entity to pay it's employees. The Legal Entity also benefits for what is paid out to employees. The string of accounts and how many lengths away an account is will be a short term concern but not a long term concern. In addition wine buyers can hold the wine maker responsible for making this decision if they feel it is defrauding them in some way. The theory is that the market will tend toward vendors that use cash to invest further in the industry vs. immediately shifting money out of the industry.
Of course you can transfer a few satoshi. On the other hand that doesn't stop you from paying bitcoin fees. The bitcoin blockchain is incapable of doing cheap micropayment transactions.
I can put together some transactions I guess...but I promise it is possible. Input 0xA $5.02 0xSystem $.04
Output 0xB $5.00 0xDecayAuthority $.02 0xMinerFee $.04
Later that day
Input 0xDecayAuthority $15.04
Output(This will have 10 outputs) 0xA' .02 0xn1....-n99 $14.98 0xMinerFee $.04
That sounds like a corporation could issue a citizen account to someone who already has an account.
When I first wrote this I was envisioning a system that anyone could implement with possible a number of entities setting up different currencies.
In general if you do have to trust a government to enforce rule of law, why use the expensive bitcoin system where trust relies on the blockchain?
Only because the banking system is more expensive and because there is a significant amount of technology that allows the actual transfer of real value on BTC. I'd prefer to have proprietary system, but that takes more time and more money. This system is based on the existence of a public ledger and BTC has one of those.
The assumption that the business man doesn't do anything with his money is unrealistic. It also doesn't make sense to assume a 3 person economy. It would make more sense to run a model economy with 10,000 participants and assumptions about how the market participants interacts with each other via an open python script. Including a miner who gets his $0.04 for every transaction.
Yes. This was my first computer model. I did a second one that added a government and taxation. Next step is to write some much more detailed monte carlo simulations that have many more actors that make rational and irrational decisions and do their best to sink the economy.
Thanks for the comments they really do help me see what needs reinforcement and what ideas are weak.
The string of accounts and how many lengths away an account is will be a short term concern but not a long term concern.
Why? The one day decay of 10%/365 doesn't do much. Transaction itself aren't strongly taxed. What's taxed is letting money sit and those taxes go one level back in the chain.
Output(This will have 10 outputs) 0xA' .02 0xn1....-n99 $14.98 0xMinerFee $.04
Transactions costs fees based on the amount of data they contain. If you batch up 10 transactions into 1 transactions the cost doesn't become the costs of 1 transaction.
...Only becaus
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