This thread rocks
I liked most of your post red
However this LETS system yiu talk about is counter party or central counter party based
Without that book keeper it will fail
Thanks Coincrazy.
Of course bitcoin's transaction graph is the implementation of that central party. However the task of recording entries into the transaction graph is distributed via random chance.
The major difference between LETS and bitcoin is that LETS usually presumes that everyone is non-anonymous.
I mention LETS not as a possible replacement to Bitcoin but as a concrete example that stable value (or unbounded coin) implementations are indeed within reasonable possibility.
I've written threads on stable money before. There have been three possible implementation proposed that I know of GEM, EnCoin, Decrits.
https://bitcointalk.org/index.php?topic=47628.0https://bitcointalk.org/index.php?topic=49683.0https://bitcointalk.org/index.php?topic=91183.0I'm partial but I like my GEM discussion best. I think it's easiest to follow.
But in general I think stabilizing currency values based on energy use is un-necessary.
I've been working on some new ideas for stabilizing values while preserving the anonymous nature of bitcoin.
NOTE: I'm not a crypto anarchist. I came to bitcoin because I want to preserve the anonymous nature of physical cash, in an internet environment. Privacy is under greater threat than my money will ever be under.