FYI - OWS Currency

[herzmeister]

For your information:

http://p2pfoundation.net/OWS_Currency

Decentralization anyone 

[qikaifu]

Money is a thing with strong networking effect. That's why people doubt about bitcoin. Since USD is so widely accepted, why another kind of currency? Bitcoin will work out as it has something USD really does not have, such as buying drugs on Silk Road and send money to the other side of the earth without fees. However, as bitcoin is already there, any other alternative XXcoins won't work anymore.

Everyone make their own IOU just like everybody set up his own Bit Torrents, you're kidding, right? you share the files with yourself?

[BitcoinPorn]

Is that like some kind of hippy craigslist?  The overall usefulness of that site compared to established ways to get things seems really off, but I'm sure I'm missing something.

[Bitcoin Oz]

WTF  is all I can say.

[error]

It's not like these guys know anything about economics. Why do you think their protests are so misguided and seemingly pointless? If they had a clue, it wouldn't be Wall Street they occupied.

[johnj]

It's not like these guys know anything about economics. Why do you think their protests are so misguided and seemingly pointless? If they had a clue, it wouldn't be Wall Street they occupied.

I think Wall Street is a symbolic place. I think that as it is getting more traction, so will leaders who will (hopefully) guide them to the correct place (which I imagine would be Washington).

[WiseOldOwl]

It's not like these guys know anything about economics. Why do you think their protests are so misguided and seemingly pointless? If they had a clue, it wouldn't be Wall Street they occupied.

+1, they are completely "clueless" and might as well be the culprit themselves from what I have witnessed.

[Gabi]

They are right about how the money of their taxes are too often wasted

Tons of taxes and not even a public healthcare? Someone wonder where all the money go......

[herzmeister]

haha, they just changed it now to promote bitcoin 

[evoorhees]

haha, they just changed it now to promote bitcoin 

I was just about to write some snide remark making fun of the currency system they proposed. But, they changed the page to Bitcoin!  Clearly they do have some good judgement, and now they have my respect 

[BitcoinPorn]

haha, they just changed it now to promote bitcoin 

"They"   .. someone from the forums here probably did lol

Thanks GeneralHaggard http://p2pfoundation.net/OWS_Currency?title=OWS_Currency&action=history

[herzmeister]

ah ok i hope there is actual communication going on, otherwise it would be just very rude to change the wiki page like that

[herzmeister]

Now the wiki page was changed again to look like before, but they kept a link to Bitcoin.

So indeed there was clearly some miscommunication going on. After all, they seem to be planning more than "just" a transaction system, ie also a job market and barter system, but still there seems to be some redundancy with Bitcoin.

[elggawf]

Why are they screwing around with some Drupal based monstrosity when it sounds like what they really want is a Ripple node?

[julz]

Why are they screwing around with some Drupal based monstrosity when it sounds like what they really want is a Ripple node?

Probably because like government currency issuers, they want to exercise control over who uses the currency and how they use it.
I don't think the ramifications of true decentralization and personal control over money have been fully appreciated by these folk.

[tvbcof]

Looks promising, and along the lines of what I had hoped would evolve.   That is, instead of using Bitcoin to buy skittles, it is used as more of a backing store as needed for lesser custom tuned solutions.

I've got an idea.  Let's all pile on and let these people know how ignorant and clueless they are.

Let's belittle their 'craigslist' idea ('cuz we all know what a loser craigslist turned out to be after all) and their 'drupal monstrosity' (since no matter what it is, it is certain to be one.)

I bet we could really win the hearts and minds that way and loft Bitcoin to even greater heights than it has already achieved.

[elggawf]

I've got an idea.  Let's all pile on and let these people know how ignorant and clueless they are.

I personally wasn't intending to pile of them, though I suppose in context I could see how it sounded that way. It seems a few people are a bit butt-hurt they're not using Bitcoin itself - I'm not. I've just seen many a situation where people take one thing like Drupal or Wordpress, because it's what they're used to, and it's a case of "everything looks like a nail". That's what it sounds to me like what's going on there. I've never used Ripple, but I have looked into it quite a bit and it sounds like it would do much of what they want in their local currency (and yes it could be backed by Bitcoin or USD or whatever else they feel like using).

As far as Bitcoin itself goes, I almost think Bitcoin itself is at odds with OWS. If Bitcoin blows up, there will still be an elite monetary class - and worse still the elite won't even have to do anything with their wealth to keep it. Those who have the extra means to save more will be at an advantage to those who can afford to save very little (or are living paycheck to paycheck). In some ways, I think that's at odds with the goals of OWS, because even if you remove the influence of big money from government, you'll still have the issue where money will gravitate towards those who already have it.

[herzmeister]

More information is available on that wiki page by now.

http://p2pfoundation.net/OWS_Currency

[grndzero]

They are right about how the money of their taxes are too often wasted

Once you pay your taxes, it's no longer 'your money'. If you don't like how the government is using it then you elect new representatives. Everyone thinks they are starting a revolution and a new political organization/party but in the end it will still be the same choices.

Tons of taxes and not even a public healthcare?

If taxes in the US got anywhere near the levels of Europe and Canada there would be full scale revolution. I've seen how (in)efficient the government can be, I don't want them anywhere near my healthcare.

Someone wonder where all the money go......

The Federal Government and all State Governments put out public budgets every year in the US. Other than muddying the waters by tacking money onto legislation and the Federal Reserve manipulating the supply, it can all be tracked.

OWS is a bunch of frustrated sheep without a clear message or goal thinking they are doing something by taking up space and costing municipalities money in the meantime.

I fail to see how any digital currency would be effective when people are camping out in tents and are probably scavenging power for cell phones let alone pads and laptops.