On Sun, Jun 8, 2008 at 5:23 PM, Nick Vanderweit <[EMAIL PROTECTED]> wrote: > Since I've been thinking a lot about proposals I could submit that > might benefit Agora, I decided I'd throw an idea out there for you > guys to give me feedback. > > My idea is an official currency, the Napier, abbreviated Np, which is > the base-10 log of its worth. 2 Np is worth 10x as much as 1 Np which > is worth 10x as much as 0 Np. One can transfer, for example, 1 Np to a > person who has 2 Np, and, assuming no tax, the recipient will have > 2.041 Np, which is log(10^2+10^1). Taxes are easy in this system, as > one just adds log(1-N) to the amount being sent to get the amount > received, where N is the tax rate.
Walk me through this (assuming no transfer tax): Alice has 10Np (value 10^10), Bob has 0Np(value 10^0). Alice transfers 1Np to Bob. Now many Np do Alice and Bob each have? Should a transfer reduce Alice to 9Np (value 10^9), which would increase Bob to 9.954Np (value 10^10-10^9+10^0)? Or would Alice be reduced to 9.9999999995657055178796009312525Np and Bob be increased to 1Np? What would be the result of the following set of transactions (assuming Alice and Bob both start with 2Np): Alice: I transfer 1Np to Bob Bob: I transfer 1Np to Alice Assuming Bob had 2Np (valued at 100 underlying units), could he effect a transfer which would leave him with none of the currency in question? 0Np is still worth 1, -1Np is still worth 0.1, etc. > An office could be set up, the Treasuror, or an existing office (maybe > that one already exists?) could manage the amount of Np people have. > If person A transfers 2 Np to person B, then person B only receives > 2+log(1-N) Np, and the remaining 2+log(N) Np would go into the > Treasury, which is managed by the Treasuror. This could be used to pay > salaries for people who hold offices and complete their reports on > time, among many other things. > > IMO, a good, though slightly confusing currency is just what Agora > needs. Tell me what you all think, and how this would fit in with > current Agoran rules and offices. > > avpx >
