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Author Topic: Hub Culture  (Read 1003 times)
tyler
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November 26, 2010, 09:18:03 AM
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Have you guys ever checked out: http://en.wikipedia.org/wiki/Hub_Culture

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Timo Y
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November 26, 2010, 09:53:18 AM
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Have you guys ever checked out: http://en.wikipedia.org/wiki/Hub_Culture

I have the impression that they are being deliberately secretive as to how exactly the price of the Ven is determined. At least I couldn't find a satisfactory explanation of the mechanics anywhere on the site.

Is the price fixed by the central authority (Gekko Global Markets - deliberately ironic choice of name?)  using a basket of commodities?

Or is the price allowed to float freely?

Seems to be both, or a combination of the two.  In any case this currency is far too centralised and far too closed for my taste.

But I really liked their idea of pavillions.   Would be a great way to promote bitcoin and to allow people to trade face-to-face.

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Anonymous
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November 27, 2010, 01:31:31 AM
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Someone could exchange their currency for bitcoins quite easily.
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