Re:Poll: Apply HN Runoff – Which two startups should YCF fund?
by Suncho on Tuesday May 03, 2016 @06:01AM
(#11619195)
Supplanting the USD - the world's premier reserve currency - with a private currency is just not going to happen.
The plan isn't just to supplant the USD, but to cannibalize it from within. Any currency in which no basic income is provided is vulnerable to disruption by one in which a basic income is provided.
So the whole scheme amounts to providing basic income via continuing bilking of VC investors.
Yes. If we fail, that's pretty much exactly what it's going to look like. But also keep in mind that the currency's USD reserves are crowd funded, so it would be continued "bilking" of everyone, not just the VCs.
Did you read the whitepaper I linked in another comment here?
https://drive.google.com/open?id=0B2jhCMrrxoeONVNQTVd6NG5pNz...
> by the time we've succeeded (which I call the transition date), GD will have supplanted USD as the primary currency that people use. If we succeed, the investors won't care about USD anymore. If we fail, as with any investment, investors will lose their money anyway.
Supplanting the USD - the world's premier reserve currency - with a private currency is just not going to happen. So the whole scheme amounts to providing basic income via continuing bilking of VC investors.