laffenlarry (OP)
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April 07, 2013, 03:15:33 AM |
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Always the cheerful party aren't you Tate. I hope you are enjoying your brew.
Perhaps A Basal Overview of the theories and concepts may be in order at this point. This was written entirely on the fly, so forgive me for being brief and not overly descript.
I's not a grand idea, or anything spectacular; what it is though is an attempt to remove borders. To Modernize.
Let's say that you go out your door, walk across the street, or get in your car, and go to your local bank (A Big Bank, or a Little Community Bank or Credit Union).
You Deposit Your Money to your account, any account you may currently hold.
You make a purchase somewhere; maybe by POS Transaction, or by Cash, or by Check (For those who use them), etc.
This purchase let's say is for a car.
The car has a stick price, a value.
So you get your check book out, or your debit card, or you cash, and purchase your car.
The transaction concludes.
Pretty simple, and it's how the world works at the moment; basic fundamental rudimentary services.
Now, the car has a value, let's say $20'000.00 USD, or EU15'000.00, or whatever.
You find a deal overseas, or locally, or anywhere.
You choose to contact the seller of said item, and they say, sure we'd love to sell you the car.
Excellent, you have saved some money (how you get it to you logistically is not our concern, that's up to you, the import charges imposed by governments, taxes, tariffs, etc, ad infinitum).
But, let's assume you could complete and conclude the transaction in an Internationally Standardized Unit of Exchange. For all intents and purposes let's just call it an International Exchange Unit.
And, let's say that BitCoin was used for transactions, instead of Cash, Check, POS, etc, etc., ad infinitum.
Now: There are some (well lots of) systems which inter-operate; there are governments and their laws, fees, levies, etc, etc., there are regulations, there are foreign exchange rates, there are a plethora of intricacies - but they only apply to the present systems that are currently in place).
Now: Let's assume this Inter-nation Exchange Unit could be bought, sold, purchased, traded, just like cash today, just like paper, but not paper. Rather a Virtual Unit, that used BitCoin for Transactions and Clearing.
Then: How is there government participation - they will want their money, a cut, a tax, something - you'd be right. Also, isn't there foreign exchanges, handling charges and fees, etc, etc., - yes, of course.
But let's say you did not transact in the currency of the nation; but rather the currency of the globe. A real fungible, tangible item. And that BitCoin was the Universale Conversion Unit.
Now: let's say that banks were not buildings, not places, but rather exactly what they are suppose to be - banks. A place store value, hold value, transfer value securely, and perhaps earn interest. But, that bank was not on a street - rather it was a Virtual Kiosk.
So: You could go online, to your smartphone, or perhaps a brick and mortar (as purely virtual banks at this point absolutely bring rise to a mistrust, if nothing else due to power outages, virus, hacks, etc, etc, so a Brick n Mortars will absolutely be required, what form they would take has not yet been determined).
Now: Let's say there are hundreds of thousands; a bank of your choosing; like a credit union; but not in any 'country' per say; but rather as an Internodal Network. You can select, choose, use any "banking facility you choose" - pretty good competition and real price setting mechanisms come about. Rather than concentrated work pools of 1000's in 1 location, there could be 100 in 10 locations, servicing maybe 1000-5000 clients (numbers not dtermined yet); and that institution (which of course we be a registered and regulated institution with their country) simply allowed world wide clients, instead of simply off shores, or suffering banking account opening restrictions.
Let's say a person from an other country (an immigrant) chooses to move and relocate to another country; wouldn't it be more convenient to keep thier local account that they've always had? And what if it was cheaper for them to bank there, and paid them interest; in contract to let's say a local brick and mortar in the new country.
But this is all preliminary; we've only been thinking about this as Bitcoin is gaining popularity, and are seeing how a new system of "little globally placed banks as independent operations, decentralized" would compare, or place, versus the old system and the security and valuation issues with Bitcoin until it stabilizes.
No Big Stuff right now - just thoughts, and seeing if there is interest. (yes, this is not a detailed overview).
But it is an idea in decentralization and globalization through independent 'banking systems' via a global network, strung together by bitcoin. Which we find facinating. But we do not know enough about the whole BitCoin thing, and are learning, and exploring at the same time.
I hope this puts some of you at ease.
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