White men are people too

Joined Jun 26, 2018

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replied 3h
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.
replied 3h
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
replied 3h
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?).
replied 3h
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.
replied 3h
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.
replied 3h
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.
replied 3h
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?
replied 3h
"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.
replied 3h
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
replied 3h
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,
replied 4h
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.
replied 4h
I think the normal trajectory of such things is that first people do "brain up", but then after some time someone says, this is a jungle, we want, nay NEED less danger.
replied 4h
But one only knows such things after having explored the service with test requests.
replied 4h
I am just testing RAI. ImageBot would, I believe, take such flimsy requests, and by itself make an attempt to make a fitting image. RAI seems to be different. Which is OK.
replied 15h
I tried to send 1024 sats to RAI too, but it doesn't want to make a picture for me. Does it have to be a very descriptive request? Or is it perhaps not yet ready for prime time?
sent · 1,024 sats 15h
RequestAnyImage's arch enemy
17h · Homework Help
Will you also do my job when I am finished with school?
replied 21h
Slowly, step by step they are likely going to fleece us all, but short term, their system is far more practical.
replied 21h
I guess my conclusion is that your model, even if amended over time and so on, I do not see that it is proven to work properly. And atm, govt money probably works best short term.
replied 21h
You can still have notes, but notes backed by gold. Anyway, we all know what that leads to of course, you get bankers with vaults, and eventually fiat as logical next step.
replied 21h
I suppose such problems can often be worked around with clever wording and so on. But even then, I believe a "gold standard" or similar thing is far more easy to deal with.
replied 21h
The traveling salesman has no use for my local work, as he will be gone the next day, and can't even find me by then. When gone he might never come back.
replied 21h
You sell that bill to someone who will put me in a coal mine or to clean out manure or something like that. Or, you want to buy services from a traveling salesman.
replied 21h
I am not saying this is all a totally rubbish idea, but there are many unique problems to handle. I.e. I say "I will work 1 hour for you", thinking I will work in your bakery.
replied 1d
Also, I cannot buy stuff with such a note from a third party like I can with money. Trade becomes very hampered by such a system, no? And disputes about the text, do I need a lawyer?