Solved/ing: Bartering, sweat equity, AI, … > Fungible Liquidity (aka Money 3.0)

Join me to build the network for converting non-fungible and non-liquid debt, things-laying-around, and especially the stored-work-potential to Money 3.0. (This is a working doc., expect multiple edits/changes.)

Money 1.0 = fractional reserve banking, debt creation model.
Money 2.0 = current crypto, is hard-trustless collateral based and does not solve the zero.
Money 3.0 = (let’s start and solve for) with zero liquidity > … > debt free … > get liquid. (We start with zero liquidity or even debt… well, peer-to-peer* is easier… then we trade up! > to full fungible liquidity! (*FRB debt is TBD.)

Ref.: In the above system, the peer-to-peer debts vs. fiat system debts are being differentiated. (They don't mix well, oil and water.)

I just tend to think people would opt out of participating in this system. It’s a market for lemons.

Dude… that is ALL WE ARE DOING NOW. we are just passing IOUs around! (uncle sam IOU bucks!)

Yes, I agree with that. The scale and ubiquity of the system makes it work. Trying to build a smaller replica of it without institutions like courts and police forces, etc. is the problem.

… that is why we solve for this, we solve for a world of peers and mathematic determinism… But its complex — … so, in order to participate they are asked to … and … — no violence please…

I just think that such a system would devolve back into using some sort of currency…

Yes … so we include the objective* to the end of the above value-creating chain, to exit to fungible value where a consumer of the completed value can pay with fungible coin/token … (*as part of the design or purposeful)

Rehash (Poetic liberty.):
FRBanking = Future value performance is bound to the promisor and Present value liquidity is minted (as minting is dilutive, it is forced credit from all the-others). ERB has three advantages: fungible, instant liquidity and the act of minting-dilution is “off-books”*. These three are what we have to solve for, then we have peer money 3.0. (*Yup, its off-the-books magic! The-others don’t see/feel it directly.)

So, what is the counter-party to the FRB magic?
One of our own, as articulated by Sergey: “… yes, there is a magical money machine (Sergey, the co-founder of ChainLink fidgets a tad articulating this or is he an honest man blushing, b/c it really is magical*…) … but, really the real voodoo going on is that the world will change to be dealing in mathematically guaranteed outcomes (again by Sergey, 2021) as the default norm … again, we are building a truth based society. … Repeat: we are building a truth-based society… (*It is not only a magical money machine, but it’s good for me and saves the world too. So buy a small stake and put a bucket out ;). IOWs: It’s a choice — if not for the money, then do it for the — freedom (aka all the self-governance we can eat) … BTW: I am finding the ingredients of the magical money machine, it’s network effect (duh) and future value; working on the Money 3.0 recipe (almost there).)

This post was instigated by “A Founder’s Journey into Bitcoin: John Ennis”. BTC Startup Lab. … and this unexpected:
42:43 “… like starting in 2019 I’ve gotten very interested in the problem … read the creature from Jekyll Island … you will understand central banks are at the heart of like 99% of the evil in the world … they are really doing a lot of damage to the world they … funded all the wars … World War One … because JP Morgan … when Britain wasn’t going to be able to pay the war debts so they went and you know they staged Lusitania sent a bunch of innocent people to their death so they could get their debts paid how evil does it get doesn’t get more evil than that but that’s like the story of what’s happened and it’s happened because of fiat currency so that problem is like the central problem in society right now why is there so much division in society it’s because there’s all the stress because all this theft going on thanks to fiat currency…”

There are two uses (objectives) for the above process: An alternative to FRB for the fungible-value creation or non-debt-based liquidity creation and a systematic way for debt cancellation or bartering to lead to one’s net or positive equity which then can become fungible liquidity. (Third, wish: A single protocol/ledger based: universally exchangeable/interoperable non-backed algorithmic stable-currency.)

Added:

• To reduce noise from too many individual Haves-Wants, probably start with professionals and small businesses.
• Stansberry Research — Banking Crisis Not Accidental: It’s the Last Leg of the Fed’s Master Plan Warns Jekyll Author … “12:23: … but the minute the the AI detects something or patterns of uh performance on your part that rings a bell then they’ll suddenly look at you very closely and decide whether or not you really are you deserve to continue to even exist…”
• SUMA: “Simplicity, Universality, Modularity, and Agility. These are the four design principles that developed Ethereum.”