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Every community having their own currency and monetary policy makes no sense at a fundamental economic level. If each member of my family has their own individ

Every community having their own currency and monetary policy makes no sense at a fundamental economic level. If each member of my family has their own individual currency and monetary policy it would make economic sense for us to form a higher level structure and just have one currency and monetary policy for our whole family to make trade easier within our family. That process scales up to the level of country. This idea failed because it doesn't solve anything economically. It actually just creates an economic bug.

EGreg 3y ago
Do you know how the Internet is designed? It is a network of networks, and protocols like SMTP and HTTP can run over it to create global applications. Why don’t we have one big network for everyone, and one-size-fits-all policies?
flagrant_taco 3y ago
Well that would have been my initial thought as well, but I don't know nearly enough about the project to say why it may not have gained a much traction as if hoped for. A team of likely very dedicated people put a ton of effort and passion into the project, I'm not willing to just write that off. Agree with the specific is it not, we need more projects like this testing unique idea and sharing their lessons. In the crypto space specifically, we have learned very little to nothing from most projects because they just try the same model. I'm happy to see a project thinking differently regardless of how it turns out. Now with regards to your specific argument, centralization and standardization aren't always the answer. It's a web of hyperlocal currencies the answer? No idea. But does that really mean we should centralize all power and stick with one currency and one monetary policy? Should we do that with other things like communication platforms, social media networks, and move all state powers up to the federal government? Would we all be better off with one global currency and one global back driving monetary policy?

EGreg 3y ago

Do you know how the Internet is designed? It is a network of networks, and protocols like SMTP and HTTP can run over it to create global applications. Why don’t we have one big network for everyone, and one-size-fits-all policies?

flagrant_taco 3y ago

Well that would have been my initial thought as well, but I don't know nearly enough about the project to say why it may not have gained a much traction as if hoped for. A team of likely very dedicated people put a ton of effort and passion into the project, I'm not willing to just write that off. Agree with the specific is it not, we need more projects like this testing unique idea and sharing their lessons. In the crypto space specifically, we have learned very little to nothing from most projects because they just try the same model. I'm happy to see a project thinking differently regardless of how it turns out. Now with regards to your specific argument, centralization and standardization aren't always the answer. It's a web of hyperlocal currencies the answer? No idea. But does that really mean we should centralize all power and stick with one currency and one monetary policy? Should we do that with other things like communication platforms, social media networks, and move all state powers up to the federal government? Would we all be better off with one global currency and one global back driving monetary policy?