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RE: Why a basic universal income cryptocurrency won't work.
The value of money comes from scarcity. If everyone happens to have it, its value will diminish proportionally and inflation will arise.
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Yes, that's also my point. This is true when you look at it from an economic standpoint.
The characteristics of money are: durability, portability, divisibility, uniformity, limited supply, and acceptability.
The problem is that financial markets are always distorted because the market participants are not always rational. Therefore the real value from money comes from people thinking it's valuable. For example: sometimes scam coins and ponzi schemes can be worth money because people (wrongfully) believe in them.