It’s the peak of summer and I find myself indoors behind a computer.
I used to read this blog regularly, and tried to submit a TAE Diamond about an idea rattling around in my head of how to avoid this “counterparty problem” the financial system has.
I’ve recently connected with another computer person, with even more experience in this field than I have, and we’ve worked up a bitcoin-style currency based on sound economics. He’s basically already done with the code he just has to “glue” some last minute parts together. I’d like to get some feedback from this forum about the proposal.
The reason this is possible is that Bitcoin is essentially a distributed double entry accounting system which can’t be forged. The “no inflation” model of the initial version is easily substituted for any alternative you can imagine.
This solution doesn’t fit perfectly into the local model promoted by TAE, but I think it’s one step closer to providing a way out of this mess.
The proposal is on a donation site, but that’s only intended for family and friends. I’d rather that if you support this idea you donate to TAE instead. I’m really only looking for feedback from TAE because I respect the community’s opinion here very much.
Thanks again, guys!
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