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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (480176)	9/27/2021 8:42:21 PM
From: cosmicforce	Read Replies (1) \| Respond to of 541129

I use the island coconut economy where you, I and Bob are on trapped on an island - each of us has a coconut. According to monetary policy if we juggle the coconuts (velocity of money increases) we have a healthier economy than if we simply trade our coconuts once in the morning. We agree that we can exchange fish, driftwood, rope or palm fronds for coconuts. If we spend all day handing coconuts to each other, we still all have three coconuts. If I create a ledger that requires work to enter the coconut count - and all three of us have to agree - there is a tendency for us not to have a secret coconut patch that distorts our wealth (you have a whole grove of coconuts you don't tell the rest of us about). That is all the blockchain ledger does - and whether I make you fill it out while standing on your head in front of all of us (proof of a lot of work) vs. letting each of us carve it on a tree make no difference if there are only the three of us and our three coconuts.