At 09:17 AM 11/4/98 -0800, Michael Motyka wrote:
It is the financial foundation for a cyber world where regulators will probably have a great deal of trouble operating. They may have no choice but to settle for taking their cut at the borders.
Note that the "informal" sector as a percentage of the "formal center is 100% for the Russian economy, 30% for the Italian and Belgium economies and at least 10% of the US economy with conventional payment systems.
I still see many of the same old problems when attempting to trade hard goods, at least in large quantities. The problem of having to explain how you came by a 6000 sqare foot home on 100 acres of mountainside in Lake Pacid is not solved. It's not a total solution but it looks good.
Rent don't buy.
It could be a great way to save for retirement - nobody can tell how much E$ you have accumulated, where it came from or where you keep it. Just draw it out as you need it, pay your taxes at the gate and use the 5th when necessary.
True. Even works for general purposes. Very hard to "net worth" people. Expensive process. DCF