Apply HN: Gresham Dollar – Viral Currency for Basic Income
Wow, crazy idea.<p>However, no matter how good or plausible this idea is, it&#x27;s extremely vulnerable to itself...<p>Central banks have power not only because they can issue currency, but also because they are a monopoly (in their sphere of influence).<p>Nothing stops someone else, including the govt or someone trying to destroy the system, from replicating this and give out Another Dollar (AD). In fact, if there&#x27;s even a hint this is popular, I expect to see this co opted by big corporations or entities with far more resources. Wal-Mart Dollars, Amazon Dollars, might all show up, which actually destroys the trust of this kind of system.<p>This is the killer of almost all innovations, the innovator&#x27;s dilemma. How could you guarantee it&#x27;s only you?