Quote from: spiral_mind on October 23, 2013, 06:16:42 AM

Centralizing crypto-currency is trying to reinvent the wheel as a square and expecting it to work better.

I agree with everything you say, except that; Centralizing issuance in short and medium term is used to circumvent the near impossible adoption for the current government.

The central authorities of the new currency are not the state now, however they stand chances of becoming one after the large structural transitions in society - including the monetary reform by the initiating non-state operators - are through.

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Ripple

Yes, I mentioned that in the opening, it has many similarities but fails on many fronts which my concept has addressed.