soapjackal

Thanks Caplan

Why are open borders helpful for high wage natives?

Relevant OT linkage and explanation:

Open-Transactions:

A financial crypto and digital cash software library. The software's author likens it to "PGP for money". Open Transactions (a centralized transaction system) is complementary to Bitcoin in that it provides some features that Bitcoin cannot, such as untraceable anonymous (versus pseudonymous) transactions, no latency (instant finality of settlement / no risk of double spending) and more. Featuring: *Untraceable Digital Cash (real blinded tokens) *Anyone An Issuer (Ricardian-style Contracts) *Bearer-only, Fully-Anonymous (when used cash-only) *Pseudonymous User Accounts (user account == PGP key) *No Account History (asset account == the last receipt) *Many Financial Instruments (cheques, cash, vouchers, invoices...) *Basket Currencies (10 "baskets" == 5 gold, 3 silver) *Markets with Trades (stop, fill-or-kill, limit orders...) *Payment Plans

https://github.com/FellowTraveler/Open-Transactions/wiki/FAQ https://en.bitcoin.it/wiki/Open_Transactions http://www.youtube.com/watch?v=HSgpStCTw2g http://monetas.net/

Most of the benefit, of course, would be in the Third World.

What he said earlier

I was commenting on bitcoins censorship resistance.

However it would take a hit by not being legally accepted and would probably not become a commonly used currency because of it.

Ala Caplan

Most of the benefit, of course, would be in the Third World.