The main issue here that stops it working is the requirement for a fixed exchange rate. If I'm industrious and you are lazy why would I exchange my output for your coins. You are adding nothing of actual value to the system that I could buy with the coins. So once I have hoovered up all the coins of the lazy there is nothing of value I can buy with them.
The result is actual inflation - all the industrious people have lots of coins but nothing to buy because the lazy haven't produced anything.
If the values floated so that AliceCoin can only be used to buy the output of Alice then you might have a system that works. AliceCoin would swap through the system like an endorsed cheque until Alice redeemed it by actually doing something.
To game this system you just need to appear industrious until you are trusted and then stop doing anything. You then get the output of those that desire to be trusted without actually adding anything yourself.
And thats how UBI works - it requires constant new blood to operate as a slave class until they are granted 'freedom' by the system. If you look at UBI systems you'll always find that slave class - a five year qualification period, a fixed exchange rate with those that don't get the UBI, UBI less than the living wage, etc.
The result is actual inflation - all the industrious people have lots of coins but nothing to buy because the lazy haven't produced anything.
If the values floated so that AliceCoin can only be used to buy the output of Alice then you might have a system that works. AliceCoin would swap through the system like an endorsed cheque until Alice redeemed it by actually doing something.
To game this system you just need to appear industrious until you are trusted and then stop doing anything. You then get the output of those that desire to be trusted without actually adding anything yourself.
And thats how UBI works - it requires constant new blood to operate as a slave class until they are granted 'freedom' by the system. If you look at UBI systems you'll always find that slave class - a five year qualification period, a fixed exchange rate with those that don't get the UBI, UBI less than the living wage, etc.