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  1. I always enjoy you content about Barter/Trade Exchanges and anything to do with conventional and complementarity currency.

    Do you ever sleep ???

    Thanks for the sound points of view Dennis.

    Regards,
    John B

    • Thank you John
      I like the concept of “sound”. Detractors no doubt will attack the messenger but decidedly notable for their absence will be “sound” debate on issues. And yes, I sleep very SOUNDly! Work hard, think hard . . . crash. Pure living in Paradise!
      Thanks for your feedback. The Barter Industry will always exist, it’s a commercial mix of a currency and a networking/marketing operation that is ‘old-school’ but valid. What they need to deal with is the possibility that their members will choose to use multiple currencies. When eventually [certainly ‘after the crash’] people will use and promote their own currencies, this business model will be seriously challenged. For example if a Bartercard top trader preferred to settle even just some of his business with, say something like Club Credits because it was in his interest to, then this practice would spread like wildfire throughout all his trading partners. Viral replication of any alternative currency could have serious consequences for this industry and it’s primary income streams which are commissions on use of their [usually highly inflated] currencies.

  2. Hey Dennis,
    Enjoy your analysis and the
    full content of the subject matter. Any thoughts on Bitcoin as I observe many large companies accepting this form of currency?

    • Hi Brock and thank you for commenting here. Bitcoin is an increasingly widely accepted currency as you note. The essence of Bitcoin is to deal with the trust issue in the reverse way of my recommendations, we are asked to trust a computer algorithm rather than humans. It is the polar opposite of a currency built on human relationships and simply invites trouble in the exact way that building or using currencies built on genuine human relationships invites integrity. The answer to the question how to have a currency that is trusted INHERENTLY is in my book. The answer to the question how to have a currency that is built on mistrust INHERENTLY is Bitcoin or derivatives. The design of Bitcoin (to put it another way) is that we trust a system, brand and computer technology BECAUSE we cannot trust humans. I would prefer to trust human beings that I know and trade with that some MAY default at some stage in the future and thus cause me loss than to trust technological solutions that I know for a certainty WILL be used for nefarious purposes. If you think that Bitcoin is not and has not been manipulated you will be living in a dreamworld! That’s the first issue – structure based on MIS-trust rather than structured FOR trust. The second issue is valuation. Bitcoin’s valuation (the perceived value) is akin to tulips – speculation and “the bigger sucker theory” [there will come along a bigger sucker in the future]. It is thus a commodity not a currency suitable for stable, fair, trustworthy trading purposes – the answer which I have detailed in my book and blogging. Thanks again for contributing here. May the world be a better place for it!

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