61–70 of 92 posts
Earlier quoted context omitted.
A superior system. 1 hour = 1 hour of work (rather than a USD equivalent). Or at least, that is how it started.
And everyone's hours are treated interchangeably?
> One Ithaca HOUR is valued at US$10 and is generally recommended to be used as payment for one hour's work, although the rate is negotiable.
This is interesting, thought I am having a hard time determining what make this different enough from Liberty Dollars [1] which made a splash in NC years ago. Liberty Dollars were supposed to be worth the metals they were constructed of, so they were not pegged to any currency but their intended use was much the same (finding local businesses that would accept them). It seems odd that the purveyors of liberty dollars…
On the other hand, the creator of Liberty Dollars campaigned for the abolition of the Fed whilst minting coins which were arguably similar to rarely-circulated commemorative dollar coins also called Liberty Dollars, and stamped a dollar value on them (which of course was in excess of the bullion value he was supposedly backing them with). Then when the US Mint issued warnings about "illegal coins" he took the suicidal decision to sue it to try to force it to withdraw them. Not a surprise that the government eventually found grounds to prosecute him under relatively obscure constitution-linked statutes covering exclusivity of coin mintage. (They also confiscated a lot of coins, most of which were eventually returned by courts. They're worth more now than when they were minted due to rarity value, looking pretty, and coin collectors and libertarians wanting them to show off)
There's a cautionary tale for the crypto-world there, probably.
Since it is pegged to the dollar why doesn't it qualify as pure waste of time?
There seem to be a lot of these "community currencies" in circulation throughout the United States. I wonder how much economic activity actually takes place using them, though. Millions of dollars? Billions? https://en.wikipedia.org/wiki/List_of_community_currencies_i... Meanwhile, up north, there's Canadian Tire Money.
My company (Conpoto), runs a local currency/gift certificate platform that is purchased with regular dollars, but is only redeemable at local merchants participating in the program. We're in a bunch of states and Canada. We'll do hundreds of thousands of dollars in currency purchases annually in some communities. It's used quite a bit by employers who want to keep money local (rather than sending it to Amazon or Targ…
Greetings from Berkshire County! BerkShares don't actually exist, as far as I can tell. I occasionally run across news stories about them, but I've never seen one and have never met anyone who's ever seen one (and I've asked around, because it's weird seeing news stories about things in your hometown that as far as you can tell don't actually exist.)
Virtually all the wealth created in the world is because of unfettered trade. Trying to create an insular economy is just a path to poverty. Are they going to build their own iPhones, Teslas, LCD screens and microprocessors? Obviously not. When a local consumer decides to pass on buying a local good for a substitute made far away, it's because they believe they benefit economically from doing so.
That would be true if currencies couldn't be converted / traded. Nothings stops you from trading Berkshares for USD or vice versa the same way you would Euros / Bitcoins / etc.
Earlier quoted context omitted.
Paddy's Dollars https://www.youtube.com/watch?v=cyxxE1AcUSM
And Schrute Bucks http://theoffice.wikia.com/wiki/Schrute_Buck
Greetings from Berkshire County! BerkShares don't actually exist, as far as I can tell. I occasionally run across news stories about them, but I've never seen one and have never met anyone who's ever seen one (and I've asked around, because it's weird seeing news stories about things in your hometown that as far as you can tell don't actually exist.)
Greetings from Berkshire County! BerkShares don't actually exist, as far as I can tell. I occasionally run across news stories about them, but I've never seen one and have never met anyone who's ever seen one (and I've asked around, because it's weird seeing news stories about things in your hometown that as far as you can tell don't actually exist.)
what the hell? this is more interesting than the Berkshares themselves.
According to their list of businesses, apparently my ex dentist accepted them. Missed opportunity there I guess. ¯\_(ツ)_/¯