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> Take that guarantee away, and someone could design a reputation currency where participants could reject payments from disreputable participants. In which cas

> Take that guarantee away, and someone could design a reputation currency where participants could reject payments from disreputable participants. In which case accumulation of units does not imply the long-term ability to use them; instead, there will be a long-term incentive for participants to maintain a good reputation. +1, considering that the empowerment of individuals to issue the currency themselves creates a trust graph that should be enough to mitigate many of the downsides he brings up. Here's my attempt at social, reputation cryptocurrency (but it's currently being rewritten from scratch): https://github.com/sunny-g/whuffie/blob/master/ABOUT.md https://github.com/sunny-g/whuffie/blob/master/ABOUT.md

siosonel 11y ago
You might be interested in this idea of routing payments through a trust network, http://p2pfoundation.net/Ripple http://p2pfoundation.net/Ripple. I'm just a curious onlooker and not directly involved with the idea, but there is a blockchain related implementation at https://ripple.com/ https://ripple.com/, and other implementations of the original idea at https://classic.ripplepay.com/ https://classic.ripplepay.com/ and https://villages.cc/ https://villages.cc/.
- nunyabuizness 11y ago
  Interestingly enough, I started this project after reading about Ripple and Whuffie, hence the name. This project however is being built on Stellar https://www.stellar.org https://www.stellar.org, which is actually a fork of Ripple started by the Ripple founder!
  - siosonel 11y ago
    I had to dig a bit which founder you were referring to. No controversy here, but just want to give a background: I always think of Ryan Fugger as the person who initially proposed the network of IOUs idea and used the name Ripple for it, and later on worked with Jed McCaleb's team who implemented Ripple as it's known today. [1] Just amazing how alt-currency/alt-payment ideas have grown so much from being on the fringe to more or less widely accepted. It was hard to imagine back in 2006 how these ideas would finally take off. [1] https://groups.google.com/d/msg/rippleusers/IVin3Qwrp7k/urzaH_VrQcQJ https://groups.google.com/d/msg/rippleusers/IVin3Qwrp7k/urza...

siosonel 11y ago

You might be interested in this idea of routing payments through a trust network, http://p2pfoundation.net/Ripple http://p2pfoundation.net/Ripple. I'm just a curious onlooker and not directly involved with the idea, but there is a blockchain related implementation at https://ripple.com/ https://ripple.com/, and other implementations of the original idea at https://classic.ripplepay.com/ https://classic.ripplepay.com/ and https://villages.cc/ https://villages.cc/.

nunyabuizness 11y ago
Interestingly enough, I started this project after reading about Ripple and Whuffie, hence the name. This project however is being built on Stellar https://www.stellar.org https://www.stellar.org, which is actually a fork of Ripple started by the Ripple founder!
- siosonel 11y ago
  I had to dig a bit which founder you were referring to. No controversy here, but just want to give a background: I always think of Ryan Fugger as the person who initially proposed the network of IOUs idea and used the name Ripple for it, and later on worked with Jed McCaleb's team who implemented Ripple as it's known today. [1] Just amazing how alt-currency/alt-payment ideas have grown so much from being on the fringe to more or less widely accepted. It was hard to imagine back in 2006 how these ideas would finally take off. [1] https://groups.google.com/d/msg/rippleusers/IVin3Qwrp7k/urzaH_VrQcQJ https://groups.google.com/d/msg/rippleusers/IVin3Qwrp7k/urza...