I realize that no government today operates by spending money into existence with one hand and taxing it out of existence with the other, but I always assumed that QF was designed for use with that kind of system (likely a DAO responding to voters on some general purpose chain like Ethereum).
Why else would you dream up such a scheme except for the purpose of replacing the one we're using (e.g. the one where the scarcity of money is determined by bankers' willingness to issue loans)? Perhaps the author is right that QF is not optimal, but what we're doing now does not care whether a funded venture helps or harms the people, so I'd say the bar to clear is pretty low.
Comments
I realize that no government today operates by spending money into existence with one hand and taxing it out of existence with the other, but I always assumed that QF was designed for use with that kind of system (likely a DAO responding to voters on some general purpose chain like Ethereum).
Why else would you dream up such a scheme except for the purpose of replacing the one we're using (e.g. the one where the scarcity of money is determined by bankers' willingness to issue loans)? Perhaps the author is right that QF is not optimal, but what we're doing now does not care whether a funded venture helps or harms the people, so I'd say the bar to clear is pretty low.