vimeo.com/71074210
Thats the problem with Compound interest related wealth accumulation effects.
monneta.org/en/ lists some solutions.
If Bitcoin is used as an alternative currency, being part of solution number 1, then i at least have not much against it (yet its digital nature will always be problematic to me).
If Bitcoin is, however, an attempt to replace paper money, make the misuse of it anonymous, and get rid of tax payments, then bitcoin is an attempt to prevent all those solutions 1, 2, 3 and 4.
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Regarding solution 2 i can recommend to read www.helmut-creutz.de/artikel.htm.
Helmut Creutz, until his recent death at the age of 94 (R.I.P.), upheld Silvio Gesell's idea of having a money that would 'rot' if it was hoarded and not put into circulation. Because money is not a value container, but a value transporter. In that context, whenever you hear "negative interest" and "taxes on possessions that are not used", you should applaud aloud. Just believe me, or read humane-wirtschaft.de/2016_03/HW_2016_03_S06-10.pdf (Sorry, German).
Despite that, Interests on interests (for example currently 20 billion euros, to be paid yearly by germany, do you know what your country pays?) are a crime and should be declared illegal for everybody, not just everybody except banks. For germany this would mean: Strike para 2 here: www.gesetze-im-internet.de/englisch_bgb/englisch_bgb.html#p0748 (such laws also exist in your country, do you know them?). For example Islamic Banks dont do that, see also my post #62 in this thread.
Thats the problem with Compound interest related wealth accumulation effects.
monneta.org/en/ lists some solutions.
If Bitcoin is used as an alternative currency, being part of solution number 1, then i at least have not much against it (yet its digital nature will always be problematic to me).
If Bitcoin is, however, an attempt to replace paper money, make the misuse of it anonymous, and get rid of tax payments, then bitcoin is an attempt to prevent all those solutions 1, 2, 3 and 4.
---
Regarding solution 2 i can recommend to read www.helmut-creutz.de/artikel.htm.
Helmut Creutz, until his recent death at the age of 94 (R.I.P.), upheld Silvio Gesell's idea of having a money that would 'rot' if it was hoarded and not put into circulation. Because money is not a value container, but a value transporter. In that context, whenever you hear "negative interest" and "taxes on possessions that are not used", you should applaud aloud. Just believe me, or read humane-wirtschaft.de/2016_03/HW_2016_03_S06-10.pdf (Sorry, German).
Despite that, Interests on interests (for example currently 20 billion euros, to be paid yearly by germany, do you know what your country pays?) are a crime and should be declared illegal for everybody, not just everybody except banks. For germany this would mean: Strike para 2 here: www.gesetze-im-internet.de/englisch_bgb/englisch_bgb.html#p0748 (such laws also exist in your country, do you know them?). For example Islamic Banks dont do that, see also my post #62 in this thread.