Corporations and large bodies <b>can get away with</b> using softer money, as they have more political (in the broad sense) power to affect the outcome of dubious or revoked transactions.</p><p>
A car dealership, though, can trust you with somewhat softer money .. say up to 7/8 on the May scale (they probably would not take credit cards, though).</p><p>
<b>We are entering the age of the "sovereign individual" where individuals will have ever-more power.</b> More and more, individuals will be able to behave in ways previously reserved for large government or corporate entities. More and more, individuals will be able to fulfill functions previously dominated by large government or corporate entities.</p><p>
For instance, it would have been in inconceivable in <b>1900</b> for one individual to, say, set up and operate a stock market. That would be and could only be the work of a large, powerful, social-political-corporate group.</p><p>
As we move more and more into the age of the "sovereign individual", where individuals will replace many of the functions of corporate/government entities, <b>there will be more and more demand for money systems that are higher-up on the may scale</b>.</p>
Original (oldest) essay, where Tim May first proposed the May Scale of Monetary Hardness:<br/>
This essay was written in the time when e-gold appeared to be successful. E-gold attempted to do what Bitcoin is attempting to, and failed. Bitcoin was inspired in substantial part to fix the problems that killed e-gold. The centralized single-point-of-failure ledgers of e-gold came under attack by the state, by scammers, and by state backed scammers.</p>
(Note that at coconutgold, we simply only accept wires! All the exchange providers for e-gold who accept money on the May Scale of 9 or 10 are very brave, tough, and quite understandably have to charge fairly high premiums to do so!)</p><p>
Again the point --- it’s no surprise or horror that it is somewhat DIFFICULT to get e-gold, to fund e-gold .... it’s for exactly the same reason that you can’t instantly fund a stock broking account.</p><p>
Observe that at Bananagold, we TAKE IN #3 and PUT OUT #8 .. so that’s a very 'secure' transaction. The #3 transactions is essentially not reversible, whereas the #8 transaction is a joke, we could reverse it anytime with a short argument on the phone.)</p><p>
What a surprise! that banks will only accept money that is at the 1 to 4 end of the May Scale, and they are only really happy giving you money on the 6 to 10 end of the May Scale!</p>
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