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General Discussion / Re: Local Money System
« on: March 06, 2016, 06:00:35 pm »QuoteSo there is a need for new feature for asset: it's value should be able to go negative.
It does not matter if there is a minus sign in front of the value, or it is written in a separate "liability" column. When you issued a token, it has to be reflected in your account budget. This is your debt.
Yeah, but how to do this in a user-friendly way?
Localmoney/timebank/etc systems are not going to be able serve large crowds, but they can work in a small groups where most of the people know each other. I don't see a big market there for Bitshares, but it would be nice to have those people onboard too, especially if it doesn't require much customization.
Self powering nature of community currencies could spread like a wild fire once their benefits are thoroughly understood, yes they dont serve large crowds in the sense national currencies do but the diversity they provide can set a much more robust and resilient financial system . And if a platform like BitShares can function as a credit clearing exchange system by utilising market makers and pathfinding mechanisms across its markets people will create their own currencies. The idea here is to have hundreds of thousands of communities using one platform so their credit can find corresponding value. At the end of the day the goal is to exchange values, and value is not in tools like money or numbers you use but in individuals . Otherwise we will keep inventing debt based solutions.
I highly recommend you to watch this video : https://youtu.be/wdyQqgmkwiM
http://www.qoin.org