currency as limits

[els]

***From Miles:

Personally I'm very interested in the 'extending a line of credit'
side of
things that is per the kind of thing that Ripple pay does. Another way
to
look at that is to note that everytime someone 'joins' twollars (and
when
exactly do they do that?) the total number of twollars in existence
goes up
by another 50.

...

But rather than being a question of semantics I'd liek to see, at
least at
some point down the line any such standard as this able to be extended
to
include 'publication' of 'credit limits' or 'line sof credit' or
'potential
curency' in existence at that time.

***

How about this option with regards to credit limits:

- Each entity declares its own credit limit by creating "credit-debit"
pairs to represent expense and revenue budgets, respectively. (There
would be no need for an entity to be granted a credit line by another
entity.)

- Each entity also declares a market specialization

- When an entity receives credits from other entities, then it cancels
an equivalent number of its self-accrued debits (essentially showing
that it has met a portion of its self-determined revenue target)

- Everything is published and auditable, so that an entity's
performance and "self-regulation capabilities" is verifiable to a much
greater extent than it is with today's highly privatized accounting/
transaction systems

I just summarized OCAUP. You might find that, together with the
concept of "independent currency brands" and "reporting", OCAUP is
able to isolate concerns about inflation/brand deterioration to within
specific currency issuing entities, thereby promoting a robust
marketplace with a diversity of particpating currency brands.