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Ask HN: How would I send 1 dollar to everyone on Earth?

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Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#81

Post by f_devd »

academia_hack wrote: post #48

100 years ago, you could have just set the money on fire and had a pretty similar net effect (reduce the money supply, increase the value of the remaining money for everyone else). There are some caveats. Money burning benefits aren't distributed evenly - rich people gain more than poor people since they have more of the remaining money. You also have to already have at least some money to benefit from it. Still, it'…

If 100 years go, This is probably the most practically doable answer but not one that accomplishes any of the goals. It only benefits pre-existing holders of USD, and this problem exists even in holders of USD. Since USD is not distributed equally among the population, the actual effect would proportional to the existing holdings; most people would effectively receive a lot less than 1$.

Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#83

Post by flyingsky »

asolanaruiz wrote: post #82

You find something that everyone uses and you spend the money reducing costs so that people will save a dollar the next time they buy it.

This is very interesting! Might be sorta hard to find sth that everyone pays for that is "subsidisable"

Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#84

Post by 0x0000000 »

flyingsky wrote: post #83
asolanaruiz wrote: post #82

You find something that everyone uses and you spend the money reducing costs so that people will save a dollar the next time they buy it.

This is very interesting! Might be sorta hard to find sth that everyone pays for that is "subsidisable"

I think it'd still be impossible to ensure -everyone- gets the discount -exactly once-, even if you found that "something."

Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#86

Post by ReflectedImage »

Create a new crypocurrency with 8 billion tokens each worth one dollar.

Set up an exchange for 1000 tokens to $1000 dollars.

Set an online identity verification service for issuing a token.

Not all tokens will be exchanged back to real money, which means you have money for the online identity verification service and associated bank fees.

Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#87

Post by simne »

Technically, every person in the world have cellular phone (many people have more than one).

So you just need to rent 8b lines in call centers, and make site with 2fa auth with voice recognition, and call all people at once, so nobody could use 2 phones simultaneous.

Second, in every country now possible to go to nearest bank (may be abroad), and there got their dollar, if tell secret code (there are lot of payment systems working such way, or you could create your own for some territories).

Also or for some cases, you could just send to each verified phone sms with money code, for example some crypto, like btc.

That's all, may be you will spend few b for call centers and for payment systems fees, and to establish your own payment systems for some cases.

Children in most countries are not allowed to deal with strangers, only adults allowed, so you could not send money to children directly.

PS North Korea in reality is proxy country, most their citizens are allowed to go to fulltime work to China.

Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#88

Post by Ptchd »

jakelazaroff wrote: post #12
Ptchd wrote: post #10

I had this idea for a world crypto where everyone would start with the same amount... the biggest challenge that I saw was how to verify identities so that no-one could claim other's crypto.

Have you considered building a device that will scan people's retinas, then recruiting volunteers to deploy it around the world?

seems really expensive... there must be a better way

Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#89

Post by ludston »

ArtWomb wrote: post #62

Proof of Humanity, the "third rail" of decentralized fintech innovation https://www.proofofhumanity.id/ My design is basic: create new crypto account at birth and hash genome as key. Fund it day zero with the total lifetime allocation. In this example $1, but why not $1M hypothetically. Distributions are received as a timely allowance. And the principal can be borrowed against. But not put at any great risk. That's p…

Steal the key from someone and where does that lead to?

Re: Ask HN: How would I send 1 dollar to everyone on Earth?

#90

Post by Markoff »

Create website where people can claim their money for themselves and their kids upon verification, it's much easier than trying to distribute it by yourself.

Though people without internet won't be able to claim their money without help of someone with internet and it will be still PITA to deliver them the money.

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