You are reading a single comment by @willski and its replies. Click here to read the full conversation.
  • The advantage (much like all financial dealings) is that you need not transfer actual promissory notes - but just communicate the intention to do so - maybe VB could set up a simple system of recorded exchange - similar to a 'rep' system.

    So VB would be acting as a central bank for this currency (Bank of HTFU?). For this to work we would need to have liquidity with the Bank of HTFU (taken in the form of t-shirts, parts and other sh*t of value) to create the LFG$$ for us to spend. If you just communicate intentions, then sooner or later someone will want to settle up and withdraw their profit from the system - if there is nothing there then the collapse in confidence will kill your currency.

    On the upside, the seiniorage income could fund the forum.

About

Avatar for willski @willski started