I just thought of an algebraic suggestion to extend the domain of traditional money with the use of crypto currency.
How about we make a new currency: ComplexCoin! Its value would be like a combination of a major FIAT currency as the real value (💶) and a major crypto coin (👾) as the imaginary value. (Don’t get offended if you are a crypto enthusiast; There’s nothing more real about real numbers compared to the imaginary ones. Afterall these are concpets that mathematicians use to model and conomists can follow too.)
To use the ComplexCoin (i-Coin?) we need to make new pricing models in especial online or brick and mortar stores that sell stuff at complex prices. The pricing is stable because it shall be regulated to depend only on the complex cost of producing or acquiring the goods, and not the volatile exchange rate between the two types of currencies.
So if you have an A+Bi amount of cash in your bank account and you want to buy an item at the complex price of a+bi your account will be charged so you are left with (A-a)i+(B-b) i-Coins. As simple as that.
What matters is that the price of the goods are set by the manufacturer/distributer based only upon the complex cost of the items, all the way from mining and production to wholesale and retail.
This is meant to keep the rates more stable to help adopting cryptocurrencies in our daily lives, so it is important that at the event of purchase the exchange between the real and imaginary values shouldn’t be permitted. Of course people can in their digital bank accounts exchange between the two currencies if exchange rates are unstable.
For example, if an apple (🍎) cost a farmer 1£ and 1 Ripple they typically sell it to the wholesalers with a certain profit(say 100% would make it 2£ and 2Ripples). But even if 1 Ripple is 1£ at the time of purchase, the terminal can not charge 4£, or 4 Ripples, altough they are equal at the time of the transaction.
There can be exceptions where the terminals charges you one of the currencies when the buyer runs out of the other one, for the transaction to go through after prompting.
Also when a transaction fee is applied (purchasing abroad or cashing out at ATM), it can be charged not as a percentage of the magnitude (as it is already the case for our real-axis FIAT currencies), but instead as an angular rotation that will be profitable for the cash terminal, based on the current exchange rate between the two axes.
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There may be a lot of problems and challanges for this to work obviously, but it was worth sharing. At worst, think of it as yet another coin, which creates its niche to stand out by the use of a mathematical concept instead of breeding kitties!
I just wonder if people are going to buy shares in a bank that issues this token, would that be an ICO? IPO? (i-CO or ICPO?)
My flight is taking off now and no Internet on-board this time. I shared my idea. Share your opinions here!