I wanted feedback on this idea.

I have a concept in my head for a digital currency that distributes dividends based on velocity. Now let's say every transaction had a 1% deposit on both ends that automatically distributed the money to all users immediately and unconditionally without any bureaucratic meddling. This would be enough to phase out welfare and social security in the long run. Depending on velocity it could be anywhere between $10 and $90 a day. This would be a natural pigovian tax on fractional reserve lending to pay for the inflation they're creating. Money laundering, capital flight, paying off debt with debt and other harmfully redundant bureaucratic schemes would pay for damage to the economy. NYSE crash bots would be prohibitively expensive. I suppose it would be fair to call this a redistribution scheme, but it wouldn't be fair to call this class warfare. It's about as egalitarian as it gets. Everybody pays 1% when money changes hands, no ifs ands or buts, both deadbeat and bankster alike. Please be my guest and tear this apart. I'd like to hear your take on it and hear what folly this may entail.

link: http://ift.tt/1XuSw2U