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Dahlen comments on Open Thread, Apr. 06 - Apr. 12, 2015 - Less Wrong Discussion
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Comments (128)
I found the article fairly irritating because it's just a claim that you might have a good idea, but it doesn't describe the idea.
I followed links to find out what your idea is, and I'm quite dubious about it-- I think the problem you're trying to solve is probably the wrong problem. I think your issue is capitalists getting too much money from employees and customers, and then doing something profitable with the money and not sharing the profits.
You don't (I may have missed something) cover the case of capitalists doing something unprofitable with the money, which may be an honest experiment or a stupid mistake, but in any case, there are no profits to share.
Excuse me if I've missed things you've covered, but what will enforcement look like?
Great point. I need to flesh out the exact process. The high level solution is that we can 'fold the blockchain.' Since we have a record of where money flowed, when an entity fails, we can fold the inputs and connect them to the outputs.
N1 sends cash to N2. N2 wastes it on a bad idea spending money at N3,N4, and N5. The great thing about 'money' is that N3,N4, or N5 have a new chance to do something 'valuable' with it. If N2 fails, we can 'fold the blockchain' and pass through the benefits from 3,4,5 back to 1.
Money doesn't disappear...it generally flows some where else where the next person in the economy has a chance to create a recursive value engine.
In the short run, the system is not very different than today. Short term profit motives are virtually unaffected. In the long run there is a value incentive and reward for proactively finding value. The theory is that it is possible to do both.