Adventures in mutual credit

Having kept an eye on the altcoins for a good while I wasn't initially impressed by the claims of Faircoin.

There have been several coins issued attached to good causes but without a clear monetary function. The idea is usually to set up a cryptocurrency, premine some, market the brand and sell the premines for a good cause. In this, there is no consideration of what makes the coin a desirable purchase, and the coin is so useless i.e. unused and therefore unusable, that its purchase constitutes little more than a straight donation.

We all have an idea of what needs to happen; we are piecing together the Transition to a better world in the ways we know how; many of us are reaching out to potential allies, although building productive partnerships is difficult.

The internet is a powerful tool that brings together people who share ideals, languages, and passions and so we spend a lot of time connecting to allies online. Where else in my life could I find people to advise me, support my work and use my software?

This is just a few notes about why the Credit Commons design is better than bitcoin. This is not an article and is written for no particular audience, but it could be!

We have to thank Tom Greco for bringing the phrase 'Credit Commons' to our attention. It reminds us that everything which was common is being enclosed, and that the abstract, misunderstood and very simple thing, credit is the most critical to bring about a fairer and more sensible society.

Just heard Matthew McStravick today talking about Economy of Hours, his widening of timebanking to include local businesses.