- bad currency systems,
- local governments issuing money, and
- the quest for local money tax acceptance.
These are three negatives, but there's no problem - there are better ways to approach this.
Any currency project that tries to assure the value of their issue by promising cashout is going to end up holding their own paper when the cash is gone.
While this can be useful in some particular applications - for instance for short demonstrations - it can’t be a long term strategy.
This should go without saying, and maybe one day it will. And don’t take any wooden nickels either.
While it must always be a core of any long term strategy, community currencies to pay taxes is almost certainly going to be just that - a long term strategy. Does anyone think this is going to be simple, or easy or soon? Given the variety of vested interests and institutions highly averse to change, what are the chances?