Hi, On Wed, Aug 26, 2009 at 09:37:07PM -0400, Anthony Carrico wrote: > Rion D'Luz wrote: > >> In particular, we could move to peer-to-peer or friend-of-a-friend > >> banking in which every individual and organization plays the role of a > >> bank. > > I've always found your idea about this pretty cool. > > The open source Ripple project actually gives a little 'on topic' cover > to the thread. > > Stanley originally asked about local systems, and if/why they might > fail. Perhaps local systems fail because they are local? Paypal didn't fail.
Local systems fail because they are specifically designed to restrict the end users of the currency. Turns out that, on the average, people would rather have choice. Buying local is good, but grass-roots movements rooted in protectionism will never go far. IMHO, it usually amounts to little more than a symbolic gesture of disapproval of the inevitable. -Forest -- Forest Bond http://www.alittletooquiet.net http://www.pytagsfs.org
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