I started when a friend from back in uni days asked me for help on a project at his employer. A year later i went full time freelance. All by word of mouth. Going smoothly, love the freedom.
"Created" meaning stolen from labor that is undercompensated, or just outright stolen. "Destroyed" meaning the purported wealth was never real in the first place.
Creates as in a dude cooks a burger. Destroyed as in someone eats it.
Under the premise that eventually this endless growth cycle
Exactly. It's endless, so the premise is false. At a certain point they'll just rename 100 dollar the neodollar, and it continues. It's just bookkeeping, there's no end.
The current situation, where those closest to the issueing party of new currency reap the biggest reward, also sounds not very usefull. Therefore I do applaud alternatives, be they not perfect.
It's a big problem, it drives up grid frequency, then starts to destroy devices, start fires, .... In current markets, the price of electricity even goes negative at certain times (so you get paid to consume).
It can be stored only in small amounts. The total world amount of batteries can supply germany's consumption for about one day.
hence there can't be more tokens than production. I think...
For example: I produced monday through saturday and have X coins. I want to consume on sunday, but there are no producers.
I always thought it's 31+20