On Sat, 03 Nov 2012 10:34:59 +1000 "James A. Donald" wrote: > Central banks,businesses, and individual people, still hold gold as > money. If no currency now has a fixed rate of exchange to gold, so much > the worse for the currency, and so much the better for gold. > > The German central bank would like the gold that the fed currently holds > on Germany's behalf shipped back from the fed to Germany, and the fed > does not want to return it. Neither of them seems to be abandoning > gold, though the fed urges the German central bank to abandon gold, and > vice versa.
I'm not going to argue on this because I think it's off-topic. My original point was that money has to be based on something. Official currencies are based on trust in hierarchical structures, obviously not applicable in P2P. If you don't care about anonymity you "can" build a Web of Trust, in order to know who's who and base money on people. That's what the OpenUDC project is trying to do. If you want anonymity, the only known option is proof-of-work, but that's just a nice way of naming a waste of time and energy on useless computations. That's how Bitcoin works, but I doubt people will want to waste that much CPU time just to share files. _______________________________________________ p2p-hackers mailing list [email protected] http://lists.zooko.com/mailman/listinfo/p2p-hackers
