From: Daniel AMP Carosone <danielce@mullian.ee.mu.OZ.AU> Date: Mon, 23 May 1994 22:43:10 +1000 [crypto content: has anyone tried to impart reputation to an anonym? ] Russell Nelson writes: > I wonder how well a zero-balance money supply would work (having > positive and negative money)? Positive and negative money is created > simultaneously by a single transfer of wealth. Some friends of ours tried starting up a regional group of a system called LETS, which works on this principle. Yes, I'm sorry, I should have mentioned LETS by way of crediting them. One of the interesting features of such an alternative economy, especially when when it operates side-by-side with a traditional one where debtors could leave the system, is that there is a strong community incentive to prevent anyone building up either too large a debt or too great wealth. In both cases such a person becomes a risk and a burden. But there is never any problem of someone keeping money out of circulation, or being short of small change. I think that it's more a matter of trust. If you trust the system to work well, you can carry a high positive balance (e.g. selling a house to someone). In the LETS system I mentioned above, everyone's current balance and trading volume were published in a newsletter. That way, community members were encouraged to keep their balances, and those of their trading partners, near zero. Right. It encourages you to keep your wealth as wealth, and not wealth receipts. But then again, inflation encourages that also. :) > Hmmm... Interesting, then. You could only effectively work > anonymously if you had created a reputation for your anonym. And that > reputation would have to be established in some way *before* anyone > would loan you money, otherwise such a loan would end up being a gift. This is the same situation as now. However, consider that you don't actually *need* anyone to lend you money -- you can make as much as you like yourself by contributing to the community, or borrow some from the community at any time. Hmmm, hadn't thought of that (tho it's obvious now that I do). Yes, it's community-based, trust-based borrowing. But also hmmm, it lets individuals make borrowing decisions for the corporate body. Not necessarily such a good thing. > One way to establish such a reputation would be to write some free > software, or answer Usenet questions, or were otherwise seen to be > knowledgable and responsible. I haven't seen anyone try it yet, > though. Does anyone know of such an attempt? Sure.. lots of people are doing those things you mention.. in fact I'm sure I've seen you do *all* of them yourself, Russ :) No, I meant "establish a reputation for an anonym". But thanks for the complement (NOT)!. [sorry, I guess I'm a looser, a looser of bad jokes.] [ but then again if I was *that* sorry I wouldn't make them in the first place, eh? ] -russ <nelson@crynwr.com> ftp.msen.com:pub/vendor/crynwr/crynwr.wav Crynwr Software | Crynwr Software sells packet driver support | ask4 PGP key 11 Grant St. | +1 315 268 1925 (9201 FAX) | Quakers do it in the light Potsdam, NY 13676 | LPF member - ask me about the harm software patents do.