2002-12-10 11:06:11

## 2002-12-09 22:06:03
I have this idea of a future with virtual peer to peer banking. A kind
of decentralized and secured system. Gone would be the times that
governments and banks can track and interfere with our money
transfers. Or even interfere with the total amount of money on earth.
My envisioned system would have a fixed total amount of money. But
each money unit (say virtual coin) is divisible indefinitely. So a
kind of deflation would replace inflation. The total value of the
money in the world would be a fixed number. It poses no problem for
liquidity, because the currency can be divided anytime. However maybe
people will not spend their money much, because it's value will
increase often. Other problems raise in the areas of security,
malicious use, and how to come towards such system from current
systems? These are just ideas, I like to hear comments or about net
resources on this subject.

## 2002-12-10 10:47:56
Maybe the community can bypass the old powers (countries and
governments). It wouldn't be a revolution, but rather evolution.
Slowly a new p2p system might take over. The current monetary systems
were mainly backed with gold (not anymore now, to my knowledge). Maybe
the underlying values of a virtual peer to peer system could be other
scarce resources, relatively easy to exchange via internet. Examples
are: computer processing power, bandwidth and data storage. These
resources would make a limited peer to peer money exchange system
possible. Limited to the total real life value of all these resources.
However from that point other resources could back up the virtual
currency...

## 2002-12-10 11:06:11
It is a step in the right direction indeed. Now replace the system
operator by a secure peer to peer system. And replace the underlying
currency with something else, or slowly uncouple the underlying
currency. Then it would be the system of my ideas...

Received on Wednesday, 25 September 2019 14:38:55 UTC