Apply HN: Gresham Dollar – Viral Currency for Basic Income
You incentivize merchants with new customers that will shop exclusively at GD accepting merchants. After you have these merchant agreements in place, it will then be easier to incentivize the merchant suppliers to accept GD in order to stay competitive in their market.<p>The model, as I see it here so far, does not take into account the administrative costs of doing business. I&#x27;m talking about human resources, database servers, credit cards for BI recipients, transaction fees over credit networks... how do anticipate meeting these overhead costs?<p>Also, in regards to BI, I am also curious about the mechanism. One of the arguments for BI is that it eliminates the overhead costs associated with various agencies of social welfare and passes that savings on the public. Nevertheless, GD is a transition currency that will not originally be available to everyone as BI, which means that there will need to be some sort of selection mechanism (which is hopefully not as costly or beauracratic as current US welfare systems).<p>As the currency gains popularity, more FGD is sold and the USD reserve goes up. How do you quantitatively measure the popularity of GD? Will you be collecting data on transactions that feed into this analysis? What metrics are used to calculate the acceptable reserve level? Is this what will influence the production and distribution of new GDBI?