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Author Topic: Interfacing with local currencies on BitCoin Wiki  (Read 892 times)
LocalCurrency
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March 05, 2011, 07:30:20 PM
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http://en.wikipedia.org/wiki/Local_currency is a gold mine!

Why try convince random passerby's on the street if we can adress people who express a clear need for alternative forms of money?
In local currencies, anonymity scams are not a problem, you only have 1 reputation!

Theres loads of local currencies documented. But the documentation is not complete:
I live in Ghent, Belgium, and a girlfriend participated in LETS, now that I see wikipedia, I check Belgium in the list but LETS is not mentioned, but certainly used (the girl was very exited about it -was because she moved to another city- but she sometimes "complained" that the mailing list almost became span, not by the quality of services, but by sheer amount of new posts daily: they seem to lack a decent service/skill database organizer -software or website, good idea to make BTC with making websites for these communities btw- long sentence ends finally)

Since LETS is not really money there is no illegality in trading LETS with BTC.

Since x amounts of LETS could just as well be expressed as x/2 amounts of doubleLEts, to them it is just an acounting system so since BTC easily allows transfers of 0.01 bitcoins, a bounty raised on the BitCoin side of say 50 bitcoins gives them 5000 play money units :-). Further since they are established communities we can have them distribute it among their members so that they start out equally.

The chance that all of them unanimously dissaprove is low, so if there is a local currency for each board member on BTC, he could enter the community and participate and as well exchange local currency for bitcoins, so that those in the community who are interested can use both systems.

Here my entry in the wiki: https://en.bitcoin.it/wiki/Local_Currencies

(adapted version of WikiPedia)
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March 05, 2011, 08:15:44 PM
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I'm only somewhat familiar with LETS. Don't most people who use LETS not like the currency to "leave the community"? I think that's irrational, but I thought that was the general idea. Oh, I guess people who live in the same local currency area might want to exchange LETS for BTC if one of them wanted to use the BTC out of the area. So I see a point I guess. 

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