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Sure, and this provides the detergent maker more capital to create the next great detergent...which devalues the detergent you have...so only up to a point. In

Sure, and this provides the detergent maker more capital to create the next great detergent...which devalues the detergent you have...so only up to a point. In general it would be better to loan out your cash at a 0% rate of interest then to hoard material goods. Especially since risk is vastly reduced due to blockchain folding bankrupt entities. Even if you are never paid back in the short term, you end up paid back in the long term. Of course it is much better for you if the person you loan $100 turns it into $1M.

ZenoArrow 11y ago
Interesting, you could be onto something here. Two more questions: 1. How does this system affect those that want to use their money at a slower pace, such as minimalists and nomads? In other words, do they have any options to spend at a slower pace without losing out? 2. I can see your approach is based on the blockchain, which I believe could work, but I wonder about whether a blockchain-based system will be fast enough when the quantity of transactions reaches that of an established currency. I don't follow news about cryptocurrencies that much, so perhaps this is already being tackled. Have people been working on improving the speed of blockchain propagation? Links to discussions/blogs about this would be welcome.
- skilesare 11y ago
  1. One of the core concepts is 'Everyone is a bank'. The system has built in loan pooling complete with a marketplace. http://catallax.info/everyone-is-a-bank/ http://catallax.info/everyone-is-a-bank/ Instead of being paid interest, you receive a dividend over time based on how well the person who placed your loan does. 2. A trusted public ledger is necessary. A bunch of tech exists to build it on the blockchain right now, but you are right, it isn't a long term solution. As long as the ledger is public and verifiable you'd be ok.

ZenoArrow 11y ago

Interesting, you could be onto something here. Two more questions: 1. How does this system affect those that want to use their money at a slower pace, such as minimalists and nomads? In other words, do they have any options to spend at a slower pace without losing out? 2. I can see your approach is based on the blockchain, which I believe could work, but I wonder about whether a blockchain-based system will be fast enough when the quantity of transactions reaches that of an established currency. I don't follow news about cryptocurrencies that much, so perhaps this is already being tackled. Have people been working on improving the speed of blockchain propagation? Links to discussions/blogs about this would be welcome.

skilesare 11y ago
1. One of the core concepts is 'Everyone is a bank'. The system has built in loan pooling complete with a marketplace. http://catallax.info/everyone-is-a-bank/ http://catallax.info/everyone-is-a-bank/ Instead of being paid interest, you receive a dividend over time based on how well the person who placed your loan does. 2. A trusted public ledger is necessary. A bunch of tech exists to build it on the blockchain right now, but you are right, it isn't a long term solution. As long as the ledger is public and verifiable you'd be ok.