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untitled - 3 views

www.wired.com/...ff_futureofmoney money
shared by fishead ...*∞º˙ on 08 Mar 10 - Cached
shalkydri liked it
  • Just a decade ago, the idea of moving money that quickly and cheaply would have been ridiculous. Checks took ages to clear. Transferring money from one bank account to another could take days, as banks leisurely handed off funds, levying fees nearly every step of the way. Credit cards made it a little easier to pass money to a friend — provided that friend owned a credit card reader and didn’t mind paying a few percentage points in fees or waiting a couple of days for the payment to process.
  • fishead ...*∞º˙ on 08 Mar 10
     
    All your prayers are answered in this article, Kurt.
  • Jack Logan on 09 Mar 10
     
    All of this sounds great in this article. Apple, in particular, has a wealth of understanding of how to handle on-line trades and money risk management.
3More

New Currency Frontiers: Reputations - 6 views

blog.newcurrencyfrontiers.com/...reputations.html reputations trust domain context metacurrency
shared by Kurt Laitner on 05 Feb 10 - No Cached
  • Jack Logan on 05 Feb 10
     
    It's going to be a whaacy world out there!
  • fishead ...*∞º˙ on 05 Feb 10
     
    more about reputation...seems like a recurring theme...
  • Kurt Laitner on 05 Feb 10
     
    it's right after attention and trust on the list of dimensions of Value - incidentally these metacurrency project guys are looking at dimVals as being each represented by a currency, and then providing a currency exchange (which is transformation of value) a little different from the econ models i've been talking about but not much
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Sacred Economics | Reality Sandwich - 2 views

www.realitysandwich.com/sacred_economics sacred *money
shared by Kurt Laitner on 06 Oct 10 - No Cached
starwalker s liked it
  • Kurt Laitner on 06 Oct 10
     
    What we call deflation, an earlier culture might have called, "God abandoning the world." Money is disappearing, and with it a third property of spirit, the animating force of the human realm. At this writing, all over the world machines stand idle. Factories have ground to a halt, construction equipment sits derelict in the yard. Yet all the human and material inputs to operate them still exist. There is still fuel, there are still raw materials, and there are still human beings in abundance who know how to operate the machines. It is rather something immaterial, that animating spirit, which has fled. What has fled is money. That is the only thing missing, so insubstantial (in the form of electrons in computers) that it can hardly be said to exist at all, yet so powerful that without it, human productivity grinds to a halt. It is as if God had forsaken the world. Even beyond the mechanical realm, we can see the demotivating effects of lack of money. Consider the stereotype of the unemployed man, nearly broke, slouched in front of the TV in his undershirt, drinking a beer, hardly able to rise from his chair. Money, it seems, animates people as well as machines. Without it we are dispirited.
2More

9-careers-on-the-way-out: Personal Finance News from Yahoo! Finance - 5 views

ow.ly/12hb0 careers making money .net economy
shared by Jack Logan on 31 Jan 10 - Cached
  • Jack Logan on 31 Jan 10
     
    Some careers have simply faded away over the past 10 years ... what will be next?
  • Kurt Laitner on 31 Jan 10
     
    the concept of a career
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PaySwarm @ Digital Bazaar - 1 views

payswarm.com currency *net money *money protocol
shared by Kurt Laitner on 13 Feb 10 - No Cached
starwalker s liked it
  • PaySwarm enables people that create digital content to distribute it through the Web and receive payment directly from their fans and customers. It is also designed to help fans and customers distribute digital content on behalf of the content creators in a way that is both legal and financially beneficial to the creators, fans and customers. The technology is designed to be integrated directly into web devices, finally making legal digital content distribution a first-class citizen on the web.
  • fishead ...*∞º˙ on 13 Feb 10
     
    @francois--it appears to work in firefox-perhaps you've got too much google... :P
64More

The End of Money and the Future of Civilization | Reality Sandwich - 3 views

www.realitysandwich.com/end_money_future_civilization
shared by Kurt Laitner on 31 Jan 10 - No Cached
  • separation of money and the state
  • Legal tender laws and banking regulations endow the banking cartel with the exclusive power to issue money (as debt), which we are forced to use (through legal tender laws)
  • money evolved as a reaction to the inconveniences of barter.
    • frank smith
      frank smith on 31 Jan 10
       
      Money is not value, it is a symbol of value.
  • ...40 more annotations...
  • Money is a sub-set of exchange, a period in the evolution of exchange systems where exchange was mediated by value representations, either in the form of tangible commodities or instruments of various degrees of abstraction.
  • Exchange is not reducible to money and so when the history of money is abstracted from the history of exchange it appears to be linear, starting with commodity money, evolving through symbolic money, credit money and towards some kind of credit clearing system that Greco says is the highest stage of money.
  • tying knots
  • Nature itself provides all sorts of feedback mechanisms to regulate and control exchange but what is unique about human exchange is that humans developed their own systems to regulate and control it
  • mental
  • clay tablets
  • Exchange is a property of life on earth and not something special or unique to humans
  • tally sticks
  • notched bones
  • earlier form of the mutual credit clearing process
  • an abstract and portable representation of the real values that were being exchanged
  • The problem with "stuff" money is that it can be appropriated
  • It has to be created, distributed and controlled, and these functions always fell into the hands of the powerful who used it to increase their power over the rest of society
  • Today the money power is all-powerful, rendering national governments insignificant
  • Where bank credit is used the monetary output has to be greater than the monetary input because interest has to be paid on top of the principal amount borrowed. Since the difference between the output and the input was not created at loan time, the deficit can only come from further borrowing down the line.
  • This keeps the system in equilibrium as the full proceeds of production go to the producers and are not siphoned off by a parasitic class who play no part in the production/distribution process. The removal of interest from the equation not only removes the parasites, it also removes the expansionary imperative.
  • Greco is not talking about a complementary currency here, but an entirely new exchange system that excludes the financial industry as we know it, central banking, fractional-reserve banking, the political money nexus and everything else that flows from removing the concept of interest from the concept of money.
  • would nation states make sense any more? Currently nations map to the areas where their currencies operate
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      this is somewhat simplistic, not sure it is this simple, but nations are under threat to be sure, not from currency but from a shift from capital to mind as the source of power
    • frank smith
      frank smith on 31 Jan 10
       
      Yep that's the real relevant shift.
  • the lack of an operational measure of value
  • This means the decentralization and democratization of the exchange process.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      and what of taxation, and our current land based existence?
  • Attempts to undermine that basis would result in class warfare in the form of "currency wars." The ruling class would appeal to its allies in government to quash any attempts to "undermine the economy."
  • In an information-based exchange system when there is a transfer of value from a seller to a buyer there is no agreement between the two and no direct obligation on the part of the buyer to the seller.
  • Another way of putting it is that traders must agree to sell in order to buy and buy in order to sell. Everyone has an obligation to the community to keep their mean balance as close to zero as possible. Clearing is the process of ensuring that balances remain at or near to zero.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      hmm interesting, not sure I agree, this enforces consumption, value should flow freely and is truly 'social' what does default look like in this situation, is this not a 'banking' function to constrain negative value from becoming more than a party can 'afford', not a zero balance necessarily.. more thought needed
  • As there is no credit in an information-based exchange system and certainly no physical currency, the term "issue" has no meaning as well.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      no, the issuer is just changed to the community
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      not really buying the straight exchange thing as some will always produce more than they consume, some consumer more than they produce and some will be eve
  • Information can neither be issued nor can it circulate
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      this is interesting, but I'm not sure if denying circulation is a good idea, having the ability to 'transfer balances' may be useful
  • When the exchange system does not have any tangible or symbolic representations of value (i.e. money) but only keeps records of the transfers of value, the concept of "payment" is rendered meaningless
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      if i open my mind this far, my brain might fall out
  • The "payment" here is the settlement of a social obligation, not a direct transfer of value to the seller in recompense.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      seeems to be standing on his/her head semantically for no apparent benefit
  • who enters the transactions into the system (records them on the computer)?
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      the computer of course
  • Sellers entering transactions is about as revolutionary as mutual credit clearing itself,
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      UoweMe instead of IOU? revolutionary? hmm
  • bad debts
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      how does it rid of us bad debt? the debt becomes mutually insured if you will but can still be unpaid by the particular counter parties
  • As buyers of labour, employers are greatly empowered by the fact that they control the supply of money in their businesses
  • When "employees" are enabled to credit themselves and debit their "employers" they are no longer part of a "workforce" but independent service providers with livelihoods.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      actually, there are no 'employees' and no 'employers' as these imply durable relationships and a certain measure of exclusivity, both durability and exclusivity will be far more rare
  • The Next Big Thing in Business: A Complete Web-Based Trading Platform
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      HALLELUJAH BROTHER AMEN
  • the money system of today was developed and adapted for the industrial age. It has always been able to generate practically unlimited amounts of credit, especially after it was delinked from limited precious metals.
  • It has also been able to produce more credit than is necessary for normal trading in order to cover the interest requirement.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      this added layer of leverage is in fact the problem
  • Growth has been possible while there has been the energy to power the growth, but as we enter the downward slope of the peak oil bell-shape and growth becomes more difficult, so it will become increasingly difficult to service the interest requirement. Because interest is contingent on growth, you could say that the "production" of credit also has a bell shape and maps on top of the energy production bell shape. We have thus reached "peak credit'"and "peak interest." This is a dangerous contradiction for a money system that can only work on the upward slope of the energy production curve.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      don't quite buy this energy -> growth -> interest -> credit argument
  • Until the computer revolution and the advent of the Internet it simply was not possible to have a purely information-based exchange system
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      key point
  • To be successful it requires four basic components: A marketplace A social network A means of payment A measure of value or pricing unit
  • We are not provided with any clues about how this can be achieved, but it is unlikely to be provided by any of the "big players" today or a new startup until one of them is prepared to provide the service without expecting any reward in conventional money.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      bingo
    • frank smith
      frank smith on 31 Jan 10
       
      I like unconventional...
  • This will require a huge leap of faith because the provider will have to believe that its rewards will come from providing the service alone and not from extraneous sources.
    • Kurt Laitner
      Kurt Laitner on 31 Jan 10
       
      amen
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U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared I... - 2 views

www.theonion.com/...u_s_economy_grinds_to_halt_as
shared by Kurt Laitner on 22 Feb 10 - Cached
  • Kurt Laitner on 22 Feb 10
     
    LMAO nice work, especially the comment about surgery at the bottom "that's a lot of tomatoes"
9More

Dark Roasted Blend: Funny Money: Unusual and Fascinating Currency - 2 views

www.darkroastedblend.com/...y-unusual-and-fascinating.html money
shared by fishead ...*∞º˙ on 01 Feb 10 - No Cached
  • Graphical Marvels, Forged Notes, Hyperinflation "Riches" and Propaganda Bed Sheets"Paper money eventually returns to its intrinsic value - zero." (Voltaire, 1694-1778)World's historical bank notes often provide the clearest and unique view on country's political and design sensibilities. For example, old Russian Empire bank notes were pretty elaborate and some of the largest in size:
  • The world’s oldest known banknote The earliest recorded use of paper money is in China around 800 AD, although the Chinese abandoned paper money in the mid fifteenth century. This Chinese Kuan note is the world’s oldest known banknote, from around 1380.
  • ...3 more annotations...
  • For richer, or for poorer... collecting money is what most people do, or strive to do, anyway:
  • fishead ...*∞º˙ on 01 Feb 10
     
    what does internet money look like today? An iTunes gift card, perhaps?
  • Jack Logan on 06 Feb 10
     
    I gave more of these away at Christmas than any other gift! I got mine at Costco!
  • frank smith on 12 Feb 10
     
    haven't you guys seen the commercials?? it's Visa, the digital currency....
3More

flattr - 2 views

flattr.com/beta metacurrency flattr payment social info technology micropayments
shared by frank smith on 12 Feb 10 - No Cached
  • frank smith on 12 Feb 10
     
    We aim to revolutionize how people pay and get paid for content on the internet. Come, join and show the world that good content is worth some coins out of your pocket.
  • frank smith on 12 Feb 10
     
    I went ahead and requested an invitation....
  • François Dongier on 13 Feb 10
     
    http://payswarm.com/ is another micropayment system. For some reason, I'm unable to bookmark it in Diigo (failed with Chrome and Firefox). Someone else could try? Or explain why it fails? I already knew that Diigo has problems with annotations over PDF files. What's wrong with http://payswarm.com/ ?
1More

Economics Interactive Tutorial: Discounting Future Income - 2 views

hspm.sph.sc.edu/...Dis.html discounting payment money info
shared by frank smith on 15 Feb 10 - Cached
  • frank smith on 15 Feb 10
     
    Economics Interactive Tutorial (Instructions) Use Safari (Mac) or Internet Explorer (PC) if you want to print this page with your applet answers. Discounting Future Income and Present Value Copyright © 1997-2002 Samuel L. Baker
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My Story About the Future of Money - Asymmetric Accounting - Spiral Out - 2 views

onthespiral.com/the-future-of-money-asymmetric *net value *money metacurrency asymmetric value *Sebastian paquet
shared by Kurt Laitner on 02 Oct 10 - No Cached
  • Kurt Laitner on 02 Oct 10
     
    The *net manifesto is being written
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Visa Lets People Use Plastic to Pay One Another - ABC News - 2 views

abcnews.go.com/...wireStory *money *net
shared by Kurt Laitner on 17 Mar 11 - No Cached
  • Kurt Laitner on 17 Mar 11
     
    person to person payments, although, sadly, through visa, and cash only (no alt currencies expected from this source)
1More

The Underground Website Where You Can Buy Any Drug Imaginable - 1 views

gawker.com/...ou-can-buy-any-drug-imaginable silk road *money
shared by Kurt Laitner on 17 Jun 11 - No Cached
  • Kurt Laitner on 17 Jun 11
     
    LMAO, TOS with ban of sale of "anything who's purpose is to harm or defraud such as stolen credit cards, assassinations, and weapons of mass destruction" peace dude.. pass the joint
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