Could this fundamental nature of bitcoin actually be used to create walled gardens? So that you take one bitcoin, divide it up and then have an official exchange rate between a restricted branch of bitcoin and everyone else. This would let you peg the value to something in the real world.
Yes I expect it could. If someone wants a throw away 'startup' idea, consider a baby sitting co-op using BitCoin. The notion of a babysitting co-op is not new, and a number of people you know will probably behaving babies soon, and there is the whole complex thing of trading hours for hours which as spawned such co-ops again and again. Often these things have token systems where you 'buy in' with some number of tokens/tickets and you 'cash out' by trading your tokens back in for cash. Do the whole thing with BitCoin and you've got yourself a very durable little system for what has historically been a cash only system.
