Our Own Virtual Currency

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File: 3a330c18740a363⋯.jpg (10.39 KB, 300x252, 25:21, 0d5c39826b2029bca1547fbd92….jpg)

Our Own Virtual Currency Anonymous 04/11/17 (Tue) 17:18:19 ffeac8 No.1491

We can and we SHOULD use our own private virtual currency. I'm talking specifically about a mutual credit system called LETS. There's so much we could be doing with this.

https://en.wikipedia.org/wiki/Local_exchange_trading_system

https://en.wikipedia.org/wiki/Mutual_credit

The question of How is already answered. The tools already exist for this type of online virtual currency. I've already been evaluating them to see what would best serve our purposes.

https://wiki.p2pfoundation.net/Complementary_Currency_Software

Some of them are plug-ins that you can integrate into your own website if you want to host a virtual currency on your own server: https://www.drupal.org/project/mutual_credit

Others are online platforms where you can register a free account and start your own currency or join a pre-existing currency:

http://www.cyclos.org/socialcurrencies/

https://classic.ripplepay.com/

http://timebank.wadobo.com/

These programs were developed specifically as accounting systems for local community currencies. They were meant for offline local businesses like farmers markets, bakeries, car repair shops, yard sales, etc.

But we can re-purpose it as an online virtual currency for a virtual community. The developers probably wouldn't be pleased with having the "webs top toxic slime pit" as their user base, but fuck them.

I'll talk about the Whys instead. I've put it on pastebin since it's a wall of text: https://pastebin.com/t7xdEuBd

Would anyone here try this out with me for the sake of some shits & giggles?

Anonymous 05/07/17 (Sun) 12:59:47 352b06 No.1541

File: 4fe6be78d1f09e4⋯.gif (785.67 KB, 357x256, 357:256, 4fe6be78d1f09e45eebbad10fe….gif)

Hello /biz/, OP here again. I'm disappointed by the lack of replies but I've created a site based on what I was talking about.

Come and see what you think.

https://smarmyarmy.com

Anonymous 05/31/17 (Wed) 13:03:43 16feae No.1580

welcome to 8 years ago. bitcoin already exists

Anonymous 07/21/17 (Fri) 02:43:57 e79538 No.1899

What would we call it?

Should we set up a poll after a few suggestions?

Anonymous 07/21/17 (Fri) 10:33:24 2d74a4 No.1905

>our own crypto currency

We should create "Shariacoin"

We will claim it is 100% halal and in compliance with islamic laws.

Then we will premine them with our ASICs and sell them to islamists.

Anonymous 08/01/17 (Tue) 10:03:04 0262dc No.1955

>>1899

4/biz/ made a 4chan coin and niggercoin. If you want ideas of what's already taken, but I really doubt there's much of us here to work with anyways.

Anonymous 08/04/17 (Fri) 20:52:19 6e39a3 No.1976

>>1580

Difference between mutual credit systems and bitcoin is bitcoin is created by mining while mutual credit is created through labor. Bitcoin is great as a hold of value that appreciates over time, but with mutual credit you are looking for something where the owner is incentivized to spend it. In fact, in mutual credit you can go bankrupt by going to far into the positive as well as into the negative.

This is beneficial for communities as it encourages active engagement instead of hoarding. It's not a good way to get rich, but it might be a good way to encourage communcal behaviour on an imageboard.