Now we're getting somewhere! Not just "another mythical currency', but a mythical currency based on government distributed mythical currency, or even more labyrinthine... a mythical currency based on another mythical currency (bitkoin).
I want to drop this 4-1-1 about crapitalism on ya all: http://auntieimperial.tumblr.com/post/145508373404 Rr Ps. Remember folks, the petroleum age and industrial revolution are (soon to be 'were') just a microscopic blip, an anomaly, a zit, on history's timeline. On 06/06/2016 04:39 AM, Robert Hettinga wrote: > <http://www.theregister.co.uk/2016/06/06/gnu_cryptocurrency_aims_at_the_mainstream_economy_not_the_black_market/?utm_source=dlvr.it&utm_medium=facebook> > > The Register > > > > GNU cryptocurrency aims at 'the mainstream economy not the black market' > > > GNU and an outfit called “Inria” have released Alpha code – version 0.0.0 to > be precise – of an anonymous-but-taxable electronic payments system they say > is “a currency for the mainstream economy, and not the black market.” > > “Taler”, as the effort is dubbed, looks to be an attempt to build on the > concepts behind Bitcoin. So while Taler lets you use encrypted “coins” as a > means of exchange, it is explicitly not a new currency. Instead, it “... uses > an electronic exchange holding financial reserves in existing currencies.” > > “This means that Taler is not a new currency with the inherent currency > fluctuation risks, but instead the cryptographic coins correspond to existing > currencies, such as US Dollars, Euros or even BitCoins.” > > The technology is also designed to be open enough that governments can peer > inside, levy “sales, value-added or income taxes”. > > As a GNU project, the code is of course freely-available. > > For now, the effort is in its very early stages. GNU even warns, in the > announcement of the project's debut, that “There is no auditor, and hence > components do not properly support auditors either. As a result, a dishonest > exchange could embezzle funds.” There's also no real-world integration at > present, “so only toy currencies are available for now.” > > If you're interested regardless of those foibles, the 0.0.0 code does include > “key components providing logic for running a bank, exchange, merchant and > wallet.” That code is described as follows: > > • Exchange implements the full Taler protocol, but does not integrate > with traditional banking systems (only with Taler's own "bank"). > • Wallet can withdraw and spend coins, but does not yet handle > refreshing, refunding, synchronizing, or export of cryptographic proofs. Some > error handling may be insufficient. The wallet was only tested with > Chrome/Chromium. > • Merchant backend can generate contracts and handle payments, but does > not yet offer full back-office support for tracking payments received. > Frontend examples are available in Python and PHP. > • The bank can manage accounts, allows the wallet to withdraw funds and > can receive payments from the exchange. > Inria and GNU hope to have more advanced versions of Taler to share by year's > end. > > When they do, it may well be game on in the cryptocurrency space: Taler's > already used fighting words with its “mainstream, not black market” talk. > Bitcoin's many admirers may take offence at that kind of language and point > to strong adoption. Sceptics can point to security woes among Bitcoin > exchanges, governance woes and the cryptocurrency's volatility as evidence > that different approaches to electronic currencies probably won't hurt their > evolution. ® >
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