If we continue to use instruments with a finite supply as money, won’t the same existing players just buy up all of said means of payment, to then lend back to us at interest?
Instead of simply changing the means of payment (as technologies such as bitcoin have done), we need to change the fundamental concept of what money is. That is our idea that money is a thing in itself, a limited quantity whose value is derived from it’s scarcity.
Crowdbucks is a project trying to tackle these issues. They have a put together a skilled team with previous experience in consumer credit systems. Some of you may have already come across the film maker, Paul Grignon. His stand-out previous work, Money As Debt 1, 2 and 3, has been an instrumental in educating people how our debt based money system works.
Crowdbucks aims to let people produce their own credit, backed up by future goods and/or services. They estimate 20% of world trade is already conducted this way, through LETS (local exchange trading system), independent of the banking system.
How do hey plan on financing things like the real estate market for example? Where do I borrow my money from? Crowd funding? I don’t think so.
Like I say it sounds nice but it’s not a fully developed concept I don’t think and they offer no mathematical solutions to back up their half-baked concept because there are none.
Hehe, you’re not the only one wondering about that…
I actually read a few pages and couldn’t figure out what’s the difference between that and any metatoken on the Bitcoin blockchain (which costs $1 to issue). It appears - none. Except that maybe they could get original and create their own (weak) PoW or PoS blockchain (which would make it even worse).
OT: 5 hours ago a comment was posted under the topic of illegal porn. From that comment I split off a new topic on combating human trafficking and guess what… My new topic was closed as irrelevant, while the nonsense comment to which I responded is still there (link below). Another success in site moderation. https://safenetforum.org/t/what-if-i-dont-want-to-store-child-porn/4306/209
Hard to know either way what the issue was as you say your comment was deleted. I would have thought that combating human trafficking would have been a noble task to take on with solutions wanted…
Thanks for sharing here !