Apply HN: Gresham Dollar – Viral Currency for Basic Income
A couple of questions:<p>1) Could you describe the problem you are trying to fix in more detail? Who needs GD and why can&#x27;t they use USD instead? You mention basic income. Why is another currency needed for that? How will the basic income be provided, wouldn&#x27;t you essentially have to fund it out of your own pocket. If you think someone else would fund it, how would you make sure GD are used?
[untangle the currency from basic income for me]<p>2) Walk me through the process of opening an account, buying a shirt from WalMart, buying a USB stick from Amazon and buying an Apple at my local market.<p>3) What&#x27;s the legal requirements for this? Would you need a banking license to operate the exchange and infrastructure? You say it&#x27;s a cryptocurrency. How do you manage the monetary exchange in a crypto fashion? How would you think the US government would view GD (especially since it is supposed to help with a basic income)?<p>Edit: Removed Q4 since it&#x27;s essentially covered by the 30 day conversion