On Sun, 8 Dec 2002, Tyler Durden wrote: > I too admit of having done some imbibing (Belgian ale I'm afraid).
Belgian beer is pretty good, in Belgium anyway. How's it travel? > First of all, I see no deep reason why some bank acount (or, more likely, a > whole bunch of 'em) can't be auto-administered like a simple mini bank. It > would be auto-administered via the votes of its "owners", who have never > met, and who are unaware of the real names of the other owners. Owners vote > to lend money out of this account to whomever. Like Bail bondsmen :-) You don't show up in court, you got more than cops on your tail.... > Needless to say, since this account is tied to one or more denominations, it > could eventually be shutdown through the concerted actions of various > governments. But the mechanisms of such a "bank" are (I think) independent > of the possibility of reliability of a future digital currency. (And of > course, there's a lot such a "bank" could do before getting shut down.) I don't think they'd really care as long as *they* printed the currency originally. If you invent your own bits and don't tie it to anything, and it actually gets believed into reality, that'd be an interesting phenomena. So if you collect real cash, (what ever "real" means...) and ship bits based on it, no government is going to care since they created it in the first place. Many companies issue their own cash, which is only redeemable in their stores. It starts from the local governments cash tho, so nobody cares. > The tough thing (or perhaps not..someone here must surely know) is the > possibility of lending money to persons who are unidentified in "meatspace". > (But then again, even in the non-Cyber world, 'meatspace' is very rarely an > issue when lending money...it all boils down to credit records anyway...) I'm gonna have to stock up on scotch. Usually you need some kind of hold on the lendee (see bail bondsman above). A meatspace hold works best :-) Patience, persistence, truth, Dr. mike
