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The idea of a corporate currency is pretty unpalatable. The idea of a pegged cryptocurrency is interesting though, potentially. We really need a lot more/bigge
by dalbasal 7y ago
The idea of a corporate currency is pretty unpalatable.
The idea of a pegged cryptocurrency is interesting though, potentially. We really need a lot more/bigger/better institutions that aren't companies or governments.
- ForHackernews 7y ago> We really need a lot more/bigger/better institutions that aren't companies or governments. So...churches? What are you proposing?
- hoseja 7y agoHopefully without the imaginary sky friends and child rape.
- dang 7y agoYou've posted a lot of unsubstantive and even inflammatory (like this one) comments to HN. We ban accounts that do that. Would you mind reviewing https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and using this site as intended? We'd be grateful.
- hoseja 7y agoI wouldn't say a lot but I suppose I could try to be more civil. Thanks for your moderation.
- dalbasal 7y agoI'm not proposing anything. But I suppose churches are existence-proof of a thing which isn't a company. It's notable we're now in a time where that's something which requires an existence proof. Incidentally... "things that make currency shouldn't be companies" is not necessarily a rare or new idea.
- smackay 7y agoSeems it's a rather old idea, https://en.wikipedia.org/wiki/Company_scrip https://en.wikipedia.org/wiki/Company_scrip
- dalbasal 7y agoMoney is well trodden ground. I expect we can find analogues to nearly any money-related ideas. But, context and specifics can count for a lot. 2019, bitcoin has recent proved all sorts of technical and other aspects in the wild, at scale. No reason to think the idea well is dry.
- NeedMoreTea 7y agoWhat do you have in mind though, co ops? Pretty much everything that wasn't has become, or is now run by a profit oriented company in the last 40 years, with little sign of pushback or attempts to create better. Though the need has been clearly there for 30 of those 40. Mysterious unknown founder who manages to remain anonymous for a decade? Who might turn out to be Visa or Exxon, and just make bitcoin as unpalatable...
- repolfx 7y agoWhy though? Most of the good things I use in life are made by corporations. And governments have a long track record of mismanaging their currencies, whilst simultaneously preventing people from creating their own - something that can have horrific outcomes. See any country that experienced hyperinflation.
- dalbasal 7y agoMost of the things, good and bad, are corporation related.. more so than ever. The example isn't clean though. There have been plenty of examples of corporate money creation, many also with disastrous results. Hyperinflation has been a problem for both. Recently though, inflation control is something central banks have done reasonably well, at least relative to those narrow goals. In any case, that's neither here nor there. There are things which are neither governments corporations. These days, those two aren't always all that different
- repolfx 7y agoWhich corporate currencies are you thinking of? The only big example I know of is Air Miles. That seems pretty well run for a currency. Central banks don't have inflation under control, they've just pushed it to places where it's not measured as part of the definition of inflation - primarily house prices, bonds and equities. That's what you'd expect given the way printed money is inserted into the economy.