@ozzelot @mcc @mhoye

They are, and a lot has been said about this at c4ss.org and in market anarchist circles, such as by @KevinCarson1 The key is that this type of money is very different from state issued money. It is, in essence a pure unit of accounting.

Graeber's "Debt" points out that there were many "informal" debt based systems of this type in history. Essentially people "keeping track" of pseudo-balances in their head. Credit flowed from community not state sanctioned gatekeepers.