Community Currency




external image newlogo3.png
Simple social payments for great people, causes & content


**Tipjoy.com, a possible home for CraigBucks**
POSTED BY RUSHKOFF, MAY 7, 2009 10:59 AM
"The main trick is to have a currency that - unlike dollars, which are lent into existence by a bank - is instead worked into existence through an exchange. One person in the system is willing to be debited for what he gets from another. And everything stays completely transparent. Eventually (like in a file-sharing system) a person taking but not giving ends up in too much virtual debt to acquire more goods and services without finding something to do or trade with someone."


**Local Exchange Trading Systems (LETS)**
Local Exchange Trading Systems (LETS) also known as LETSystems are local, non-profit exchange networks in which goods and services can be traded without the need for printed currency. Michael Linton originated the term "Local Exchange Trading System" in 1983 and, for a time ran the Comox Valley LETSystems in Courtenay, British Columbia.[1] The system he designed was intended as an adjunct to the national currency, rather than a replacement for it,[2] although there are examples of individuals who have managed to replace their use of national currency through inventive usage of LETS.[citation needed] LETS networks use interest-free local credit so direct swaps do not need to be made. For instance, a member may earn credit by doing childcare for one person and spend it later on carpentry with another person in the same network. In LETS, unlike other local currencies, no scrip is issued, but rather transactions are recorded in a central location open to all members. As credit is issued by the network members, for the benefit of the members themselves, LETS are considered mutual credit systems.


ETS are generally considered to have the following five fundamental criteria:[2]
  • Cost of service — from the community for the community
  • Consent — there is no compulsion to trade
  • Disclosure — information about balances is available to all members
  • Equivalence to the national currency
  • No interest
Of these criteria, "equivalence" is the most controversial. According to a 1996 survey by LetsLink UK, only 13% of LETS networks actually practice equivalence, with most groups establishing alternate systems of valuation "in order to divorce [themselves] entirely from the mainstream economy."[3][4] Michael Linton has stated that such systems are "personal money" networks rather than LETS.[5]


external image logo_full_simple.png

NeighborGoods is the online community where you can save and earn money by sharing stuff with your neighbors. Need a ladder? Borrow it from your neighbor. Have a bike collecting dust in your garage? Earn some extra cash by renting it out!
NeighborGoods members can borrow, lend, rent, sell and buy stuff from their neighbors, saving money and getting more value out of the items they already own.
When you add an item to the NeighborGoods inventory, you choose how to share it with the community. You can allow your friends to borrow the item for free and charge others a rental fee. Or you can decide to make the item only available to friends. Its your stuff, so you set the rules.
NeighborGoods helps facilitate transactions with a reservation calendar, automated reminders, wishlist alerts, and private messaging between neighbors. NeighborGoods keeps track of all your stuff.


The Future Of Money: Bruce Sterling (July 04, 2009)
http://www.stoweboyd.com/message/2009/07/the-future-of-money-bruce-sterling.html


Liberty Dollar
http://en.wikipedia.org/wiki/Liberty_Dollar
The Liberty Dollar is a private currency embodied in minted metal pieces (referred to as rounds) and gold and silver certificates (ALD), and electronic currency (eLD). ALD certificates are warehouse receipts for real gold and silver formerly owned by ALD certificate holders which was warehoused at the Sunshine Mint in Coeur d'Alene, Idaho prior to a November, 2007 raid by the Federal Bureau of Investigation (FBI) and the Secret Service. [1] The Liberty Dollar is distributed by Liberty Services (formerly known as NORFED), based in Evansville, Indiana. It was created by Bernard von NotHaus, the co-founder of the Royal Hawaiian Mint Company.[2]