This works really well if you have $480,000 in savings, but it doesn't really work if you have 0 savings, or debt.
Deflation, with its disincentives to investment or economic growth, would reduce employment and real wages. Most Americans would lose their jobs or see their wages cut as the economy ground to a halt. Anyone with debt would likely be trapped working for the rest of their life at subsistence wages, never making enough to pay their debts off.
At that point, you'd need an entire overhaul of the economy, not just an algorithmic monetary system
Deflation, with its disincentives to investment or economic growth, would reduce employment and real wages. Most Americans would lose their jobs or see their wages cut as the economy ground to a halt. Anyone with debt would likely be trapped working for the rest of their life at subsistence wages, never making enough to pay their debts off.
At that point, you'd need an entire overhaul of the economy, not just an algorithmic monetary system