Local Currencies?

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Posts: 28
Location: Australia

Could the model thats being used for LTBCoin, be used as a local crypto currency?
Local currencies are generally accepted as good for the local economy, but the difficulty is creating a safe and secure medium with which to exchange.
A crypto, built on Bitcoin, such as this LTB coin seems a good fit.
Thanks

Posted on March 27, 2014 at 9:20 AM
Last Edited: March 27, 2014 at 9:22 AM

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deweller

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Posts: 347
Location: Nashville, TN

User-generated or local currencies is one of the functions of meta-coin protocols such as counterparty, mastercoin and others.

Ripple can also do this and has a fully functioning distributed exchange for trading one currency for another.

Posted on March 27, 2014 at 9:06 PM
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AdamPoulton

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Posts: 28
Location: Australia

Great. Thanks deweller.
I was worried about security, and people outside the target area controlling the mining, but with this system, that is no longer an issue.
I will look further into counterpart and master coin.

Posted on March 27, 2014 at 9:18 PM
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wildjo

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Posts: 167
Location: Appalachia, United States

@deweller User-generated or local currencies is one of the functions of meta-coin protocols such as counterparty, mastercoin and others.Ripple can also do this and has a fully functioning distributed exchange for trading one currency for another.

There is, of course, a big difference between "user-generated" and "local currencies". It's much easier to form a community around a user-generated currency/coin/token like LTBcoin when it isn't tied to a specific geographic location (e.g. is online). The pool of supporters/users is unbounded (e.g. see the various non-english threads in the LTB forum). I say "much easier" comparatively, not to suggest that it is an easy endeavor itself.

The problem with local currencies is finding support among a fixed population, which, depending on it's cultural traditions, may welcome local hard currency proposals, or may not; may welcome technological innovation or may not. I think it is a fascinating topic worthy of more thought and discussion.

I actually came to the Bitcoin space through the local currency space. They both are alternatives to a destructive system. Getting Bitcoin adopted locally, however, has been a challenge because of the technological barrier. You can still hold an "Ithaca Hour" currency. People are skeptical of digital currency they can't hold in their hands, even if they agree with all the other aspects that make it a superior form of value transfer.

Posted on August 13, 2014 at 8:02 AM
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swindledarrel

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Posts: 85

Which one is local currency, just give me the example of local currency.

Posted on August 23, 2014 at 7:46 AM
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Akinale

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Posts: 309
Location: Russian Federation

only ltb on forum

Posted on August 23, 2014 at 2:19 PM
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wildjo

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Posts: 167
Location: Appalachia, United States

@swindledarrel Which one is local currency, just give me the example of local currency.

Ithaca Hours:

http://ithacahours.info

Berkshire berkshares:

Http://berkshares.org

Posted on August 23, 2014 at 3:02 PM
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noel57

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Posts: 76

@swindledarrel Which one is local currency, just give me the example of local currency.

They are alot of local currency.

Posted on August 26, 2014 at 9:19 AM
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meadefreling

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Posts: 81

@wildjo

@swindledarrel Which one is local currency, just give me the example of local currency.

Ithaca Hours:

http://ithacahours.info

Berkshire berkshares:

Http://berkshares.org

Thanks for the enlightenment of local currencies i do not know.

Posted on September 2, 2014 at 9:09 AM
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birchnels

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Posts: 12

May be but some one need to have some money to throw around before profits starts rolling in.

Posted on September 13, 2014 at 10:44 AM
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