Bitcoin + Local Exchange Trading Systems (LETS)

[minebitcoin]

> http://en.wikipedia.org/wiki/Local_Exchange_Trading_Systems

I'm wondering if anyone has considered combining Bitcoin with Local Exchange Trading Systems (LETS)?

As far as I know, there is no gold standard for LETS systems, in other words no universal way of exchanging one type of LETS units for another around the world.

If there were some kind of demand-based LETS exchange available online, then LETS systems all over the world might be able to become interchangeable with one another via Bitcoin, for instance.

The advantage of this for Bitcoin would be to jump-start a lot more local goods and services into the Bitcoin realm.

[1715168529]

1715168529

[1715168529]

1715168529

[1715168529]

1715168529

[1715168529]

1715168529

[1715168529]

1715168529

[proto]

Hiya!  It turns out there's a lot of thought and discussion and beating around the bush about these ideas.  In fact, I came to this forum by landing on this thread: http://forum.bitcoin.org/index.php?topic=3176.0 which eventually drifts into a debate about exchanges, the points where the BitCoin economy intersects with the government-sanctioned economies.

One great read (also mentioned in the thread) is: Toward A Private Digital Economy -Trusted transactions in an anonymous world
http://pelagic.wavyhill.xsmail.com/Private_Digital_Economy.html . 

Especially, see the section about Ghost Walkers http://pelagic.wavyhill.xsmail.com/Private_Digital_Economy.html#Ghost%20Walker" who function as anonymous micro-exchanges

There's also a nice post listing news stories of non-sanctioned exchanges that have been shut down:
http://forum.bitcoin.org/index.php?topic=3176.msg45198#msg45198

Thought-provoking stuff.  I'm surprised there's not more discussion about these concepts here in the Newbies section.

Do you have experience dealing with a LETS ?  It seems like a perfect use for BitCoin, both within a LETS and perhaps between LETS(s). 

[minebitcoin]

> http://forum.bitcoin.org/index.php?topic=82.0

Just found an older thread "Bitcoin and LETS" (above), from March 2010 ..

[JTaBitCoinKing]

Looks like the two groups believe in completely different economic models.

Bitcoin is a better replacement for the dollar, me thinks.

[dravis]

I know this is an amanzinly old topic, but i think it is a shame that not much people paid attetion to it. I believe bitcoin and lets were made for each other. Actually, without bitcoin a LETS system would never be able to exchange its currency to a foreign one.
I cant acces the links posted here, which is sad because i am actually really interested in providing a solution to strengthen  the economy of eco villages, agriculture based communities and so on.


So.... I dont think i have to create a new topic to ask it. I assume that if anyone here knows what LETs stands for and have something to contribute towards an hybridization of blockchain and local exchange systems will contribute.

Or else, just let the topic sink. Very interesting subject, nonetheless.

[unomie]

I know this is an amanzinly old topic, but i think it is a shame that not much people paid attetion to it. I believe bitcoin and lets were made for each other. Actually, without bitcoin a LETS system would never be able to exchange its currency to a foreign one.
I cant acces the links posted here, which is sad because i am actually really interested in providing a solution to strengthen  the economy of eco villages, agriculture based communities and so on.


So.... I dont think i have to create a new topic to ask it. I assume that if anyone here knows what LETs stands for and have something to contribute towards an hybridization of blockchain and local exchange systems will contribute.

Or else, just let the topic sink. Very interesting subject, nonetheless.

https://github.com/ergoplatform/ergo/wiki/A-Trustless-Local-Exchange-Trading-System

[LeGaulois]

The topic is old but interesting and it is probably good to revive this thread in the hope to create a longer (smart) discussion.

This is an attractive concept... basically... in theory, in reality, it is a utopia. We have a few systems with some similarities in my country. In the form of decentralized local currencies (more or less).
A currency used by certain groups of people accepting it as a means of exchange and payment.
Individuals, merchants... there is even a city where the mayor is paid this way.

However, the ideology of such a system practice of exchanging products or services within a closed group is supposed to exist in order to create solidarity and social cohesion.

This system can only really work among the Amish or similar communities. (nothing against the Amish, they're probably great people)
We live in a world in which money is the only thing people are after. There is no longer any point in helping your fellow man. The solidarity and social cohesion are fucked