It seems like the kind of thing that a monomaniacal mind might make up. Such a mind would see some problems and not others. It would explain some things and not others. Like why is it necessary for individuals to generate coins? Why allow people to earn coins by making coins? Is this just part of the cost of creating the system?
And since the number of coins is capped at 21 million, then, over time, each coin will become worth more and more—deflation, which is very destabilizing to an economy. When your coins are constantly gaining value, you have a strong incentive to delay purchasing until you coins are worth more. Delaying your purchases slows the economy, eventually to a near standstill with constant deflation.
Also, they appear to be afraid of wild swings in the money supply. I don’t know why. I think we need flexibility, not rigidity.
In addition, the system is not at all transparent. It requires a good deal of education for people to believe in it.
I don’t think it’ll fly. Some other micro-transfer mechanism will win out.
So what’s the deal, @phoebusg? This is the second time you’ve asked this question, as far as I can tell. Do you work for them? Whoever they are?