I like tokens - Round 69 - Leave a comment here and you will receive some Donatello tokens as a tip. Buy some Donatello tokens from anyone and you will receive 5,000 Satoshis as a tip.
Cheers for today! I know we are all busy doing our own tasks just to earn and save more. Let's all hope that there would be more opportunities that will come to us.
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Menudo is now cooked 😋. My mother's group will be conducting a store opening that's why they prepared a special menudo for the visitors. I already tasted it and this was super yummy.
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I really hate the slow internet connection 😔 My internet connection is annoying me i want to change the WiFi but I can't And for more mbs we can't pay more I tried to open Memo 1000 of time #Memo#internet#BCH
Hm, the tide seems to go toward only electronic payment. Not "no way to pay". The masses I think will largely accept this, whether called CBDC or not. Are you sure enough people
will want your alternative to that system? I am aware of problems with electronic payments, but I use them almost exclusively. Most others seem totally uninterested in their problems.
Their system increasingly looks like it will disappear in a big bang event.
I thought it would dwindle away but in Singapore cash is already gone.
Hm, the tide seems to go toward only electronic payment. Not "no way to pay". The masses I think will largely accept this, whether called CBDC or not. Are you sure enough people
I agree, the model is not yet proven.
I am seeking a community to test it in.
Govt money will vanish when that moment comes.
There will be little warning and no time to prepare.
I suppose the system is meant only for small communities? Otherwise, most of the most important problems will likely mostly come in bigger communities (which will remain untested?).
It is easy to simply put on the note "backed by 1gram 24k gold" or whatever.
Perhaps you remember the days of "personal cheques" ?
In these days you become "self-banker with a vaults"
I remember seeing it as a kid, and even then wondering how one can trust someone writing such a cheque. This is the case whether I say "1gram 24k gold" or not.
Are you saying direct gold ownership is broken? I suppose writing notes based on gold is a messy business, I can write an infinite number of notes based on the same piece of gold.
In theory a bank could make sure this does not happen, and its reputation would be reason to trust it (more so than that of one person), but this too only works temporarily as we know.
Gold standard is already hammered out of existence by the LBMA mafia.
This is a fundamental flaw in commodity standards - they get owned by the richest psychopaths.
Are you saying direct gold ownership is broken? I suppose writing notes based on gold is a messy business, I can write an infinite number of notes based on the same piece of gold.
Any traveling salesman who wants to prosper will specialize in crypto or local currencies that have credibility in his next venue. He might trade local notes to pay for local expenses.
OK, you already plan to base it on other money systems, it is only for use as "physical cash", not "currency"? And you must accept all the aforementioned kinds of irregularities?
An hour of work is a notional Value - it is specifically only a Value - to be negotiated around.
A traveling salesman should be clever enough to ask ahead of time which notes are best
"best", for his purposes, which are not everyone else's purposes. Fiat is easier that way, one note is as good as the next. We may need to sacrifice this, but there is a cost to that.
Then over time this new system evolves to not only take care of security/guarantees for a cost, but also to have all the characteristics of a modern bank. I.e. the new thing you make,
it may eventually change character slowly into what you are trying to replace. At least I have seen no guarantee that this does not happen. Before that though, it can be nice I suppose
Then someone comes up with a walled garden version of the thing, with assurances and so on, and it catches on, and becomes what the masses use to avoid being taken to the cleaners.
Then over time this new system evolves to not only take care of security/guarantees for a cost, but also to have all the characteristics of a modern bank. I.e. the new thing you make,