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I don't think it has to be viable on a bigger level. If all the system does is keep productive, engaged community members a reason to stick in the town due to t
by antasvara 6y ago
I don't think it has to be viable on a bigger level. If all the system does is keep productive, engaged community members a reason to stick in the town due to the currency they've built up, I see that as a win for the currency.
- Kinrany 6y agoStartup idea: a messenger that allows small communities to create their own currencies and provides a way to convert between them. Basically Internet, but for money. ...It'll turn into an even bigger scam than cryptocurrencies, but the idea seems interesting...
- maxwell 6y agoKey would be SEC approval.
- bsanr2 6y agoI think the whole point is that you can't convert easily.
- Kinrany 6y agoYou can't just trade them, but you could find a loop where every two consecutive traders have at least one community in common. Perhaps I don't really understand the value of not being able to convert them.
- bsanr2 6y agoThe point is to incentivize local spending, not just spending on local goods. Money that circulates within a community stimulates more local activity. Local producers are more likely to undercharge for the value of their goods and services for the sake of community vitality than large, remote businesses that want to squeeze every bit of value out of a transaction. It's essentially a way to get more work done. It doesn't work if the network is so large that people lose that incentive.
- Kinrany 6y agoRight, so this is a way to make local economy more efficient that works because people care more about local externalities. The question is, is there a way to scale this to the whole world by building a global network composed of local networks?