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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
by 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 ago1. 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.