My company does not have a central git server, and neither do they allow me to use BitBucket etc.
Is there anyway I can use my localhost as remote
?
Yes, just put a username as localhost: http://linuxprograms.wordpress.com/2010/05/10/how-to-set-up-a-git-repository-locally/
The other option is to setup a Gitolite locally.
But I don't know why do you want to setup an another repository when "workcopy" is a repository indeed.
Local directories work just like remote repository URLs, so basically there's nothing you need to do as long as you're the only person using the repository.
Example, assuming Git Bash (from msysgit):
mkdir /c/git
mkdir /c/git/testrepo.git
cd /c/git/testrepo.git
git init --bare
cd $TEMP
git clone /c/git/testrepo.git
cd testrepo
# hackety hack
git add .
git commit -m "I shouldn't be making commits like this but who's gonna sue me"
git push origin master
cd ..
git clone /c/git/testrepo.git testrepo2
cd testrepo2
# wow, all my files are here
That said, just creating a normal local repository with git init
gives you a complete Git repository in which you can make commits and everything, and which you can clone and merge/pull from. Most of the time, this is really all you need.
In Windows GitStack is an option, it is much more easy than Gitolite.