Ripple monetary system

[cathleeninnh]

I vote for simplicity. I will support fellow tuath members that I know. They know that. Let me know when there is a need. We can work out details then.

Cathleen

[Michael Fisher]

Even during Babylon, 2600 years ago, people expected either collateral or some other evidence that you are trust worthy and would repay your debt.

Your honor is my collateral for your debts to me.

[Lex]

Even during Babylon, 2600 years ago, people expected either collateral or some other evidence that you are trust worthy and would repay your debt.

Your honor is my collateral for your debts to me.

Not all people value their honor. Also, what stops a migrant theif from borrowing your money then moving on to another place with new victims?

A social network can exist without a database but it doesn't scale very much, while one supplemented by a database can be much bigger and more accurate.

[Russell Kanning]

Sounds like we should keep this monetary system far from the FF Tuath.

[Lex]

Sounds like we should keep this monetary system far from the FF Tuath.

Yeah, it doesn't look like there is much relationship between the monetary system and a Tuath. Since several members of a Tuath can all have different monetary systems and still get along just fine.

Tuath is strictly for settling disputes.

[Barterer]

I think Ripple is a great idea. I can't believe I didn't find it until now!  It solves the main problem with bartering.. having to be a jack of all trades AND keep a mountain of junk so you are likely to have something wanted by a particular person.  If a good variety of users get on a Ripple-ring, that inconvenience would be gone.  Or, if you are the type to carry gold or wads of cash, these electronic IOUs might be a bit safer.   

They seem to be developing the project actively, and put up a web implementation at http://ripplepay.com   

Regarding tuath-trust, user ratings, etc:
I don't think those would be problems, since you choose the amount of credit you want to extend to each user.  Just make that amount jibe with your trust in them.  The tuath could still serve as the social network that helps with finding contacts and evaluating their trustworthiness, which you'd use to set their limit.

I'll definitely be compiling me a copy of this to tinker with..   Looks like it does exchanges between gold and other currencies too. hmmmm!

[Tunga]

You know what whould be really cool? If any of us had any real assets, cash, silver and or other net worth to barter about on this here werld wide web.

That would be a life changin sperince fer sure.

jus kiddin for sure. ???

[FrankChodorov]

I would say that it should not be wrapped up in the tuath. There might be people in the group that you want to keep info from and have no interest in loaning to. We could have many databases, so that you go alone or with whoever you trust. There could be multiple filing cabinets.

There could be several different systems. One for the FF Tuath, for instance.
Definitely feel that some sort of registration is required, but it could be minimal info as it is all wrapped around knowing, and trusting each other.

as I had previously posted here - I have contacted the developer and he said he could brand a special FSP site.

[Russell Kanning]

So they are up and running eh?
I will have to check it out.

[FrankChodorov]

So they are up and running eh?
I will have to check it out.

under active development looking for beta testers to provide feedback

[Barterer]

under active development looking for beta testers to provide feedback

Well it may not be ready for prime-time  but I sent a bug report and offered financial support.. hope the guy takes it and keeps going. This is a great project that I will keep looking into.  Thanks FrankChodorov for pointing it out.

[FrankChodorov]

under active development looking for beta testers to provide feedback

Well it may not be ready for prime-time  but I sent a bug report and offered financial support.. hope the guy takes it and keeps going. This is a great project that I will keep looking into.  Thanks FrankChodorov for pointing it out.

no problem...I do on occasion contribute in a positive way dispite my karma rating although most people here have me on ignore.

[Russell Kanning]

I am signed up as my user name @yahoo.com, so if any of you want to make connections with me on the system ..... go for it.
I will be able to offer a little credit on the system to those of you I know well. Maybe we can start doing some transactions like the porcupine raffle or buying ad space in the Keene Free Press.

[Barterer]

Ryan Fugger, the main developer, is very responsive.  He already fixed the bugs I reported.  Once I suggested donations he basically said "oh yeah!" and immediately set up an e-gold account and donation page:  http://ripplepay.com/donate/  I recommend others slip him a few bills as well.  Most OSS developers deserve our support, and this project is especially useful for libertarian purposes.

[Russell Kanning]

Are there are no fees involved?
It is a simple system, since the collection happens between people who know each other.