You have to admit though, Pericles. It has some interesting features. However, from a technical point of view I don't see how it can be maintained if it was to become the worlds currency system. I think the ledger is around 5 gigabytes at the moment. Even on our fast networks, that's a lot of data to download all the time to stay current.

I do agree, though. It's a pyramid scheme that will hurt many.

'To get a cash free policy introduced worldwide would be difficult. '

yes its about control Nathan. The bottom line is that the current economic system is not sustainable and will collapse at some stage (maybe sooner than we think). You can't however legislate against greed. It can only be dealt with by a heart change.

It is ironical that the people who make the most noise about sustainabilty etc are often jetting off on public funded excursions telling everyone else how greedy they are.

Thanks for the link Pericles. Very informative. Coincidentally ABC 7.30 Report had a piece on Bitcoin tonight. Seems very volatile.

runner
I wish many more corporations would use a bit more heart and take responsiblity for their ethical standards. The system unfortunately rewards greed to some extent and many big corps are protected by the 'too big to fail' phenomenon.

Nathan the existence of money is not the reason why people in third world countries suffer poor living conditions.

The fact is, if the money system that the world universally uses didn't exist, then we'd still have countries that do well and countries that do badly.

The existence of money - does equal poor living standards. Well off countries are simply not willing to properly assist - because cash dominates their minds.

The current Liberal government aims to cut our foreign aid budget - with many raising concerns.

For me it's the more we give re basic assistance, the more we'll get back business wise and help countries move to a better, independent, sustainable way of living.

The poor in less well off countries, simply don't have money to spend. Their official currency is therefore invisible. To make their life sustainable we must be willing to donate - no cash attached.

Nathan, that's correct, the existence of money does affect countries. It affects poor countries. It affects rich countries.

My point is, even if the money system didn't exist, there would STILL be countries that are doing well, and countries that are doing badly.