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EGregyesterday at 11:26 PM2 repliesview on HN

No. Bitcoin is one coin for everyone. The attempts to create "colored coins" back in 2013 fell flat, then it became a "store of value", and punted on being a "peer to peer payment system". https://avc.com/2017/08/store-of-value-vs-payment-system/

I started Intercoin in 2018 to try to fix this. Let every community have its own coin, and Intercoin acts like the internet of coins... interconnecting them. We raised about $1M, and built the system, but we couldn't compete with the zero-sum games and scams in crypto, because investors and even "crypto VCs" wanted to just 10x at the expense of everyone else. And also regulators don't actually allow creating fake volume, which is table stakes to be listed on CoinMarketCap and CoinGecko and taken "seriously" by crypto investors, so it instead became a business where we go town by town, community by community, influencer by influencer: https://intercoin.org/currencies.pdf

I've interviewed lots of economists from different schools of thought, such as community currency economists: https://www.youtube.com/watch?v=OXTn52kL0Yo

I've also interviewed regulators: https://www.youtube.com/watch?v=ocrqgkJn4m0

And also founders of decentralized networks: https://www.youtube.com/watch?v=JWrRqUkJpMQ

And there's a lot more resources on https://community.intercoin.org that discusses this stuff. But Intercoin kind of failed as a "crypto" project, because we were unwilling to stoop to what projects did in order to attract capital.


Replies

amanaplanacanalyesterday at 11:35 PM

There used to be a ton of competing currencies in the US. Banks regularly went bankrupt taking everybody's savings with them. Your suggestion doesn't really sound like anything new.

show 1 reply
Apocryphonyesterday at 11:34 PM

Is it something like Great Depression scrip?

https://www.depressionscrip.com

show 1 reply