How can commoners meet their needs without replicating (perhaps in only modestly less harmful ways) the structural problems of the dominant money system?
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Peer2Politics
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on peer-to-peer dynamics in politics, the economy and organizations
Curated by
jean lievens
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“The research question is to investigate if supplementary tethered currencies might reduce financial system risks and provide a superior fallback position to Bitcoin in a crisis? To investigate the question, a hypothetical $Z supplementary cost carrying currency is considered whose value is tethered to the retail value of kilo-watt-hours generated from benign renewable energy resources from host bioregions. Cost carrying money was proposed by Gesell (1916) and supported by Fisher (1933), Keynes (1936), Suhr (1989), Buiter (2009) and Menner (2011). Private issues of self-financing self-liquidating cost carrying money described as “Stamp Scrip”, competed successfully with official gold backed currencies during the Great Depression in Europe and the US. The rapid growth and spread of private cost carrying currencies in Germany since 2003 tethered to the Euro provides evidence of its viability and acceptance. Options are identified for the issue of $Z like currencies to underwrite the stability of the financial system and/or to sustain and stimulate economies with either idiosyncratic or systemic failures. $Z represents money that is Tethered, Tagged and Terminating.” 
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The still raging financial crisis of 2007–2008 has enabled the emergence of several alternative practices concerning the production, circulation and use of money. This essay explores the political economy of the Bitcoin ecosystem. Specifically, we examine the context in which this digital currency is emerging as well as its nature, dynamics, advantages, and disadvantages. We conclude that Bitcoin, a truly interesting experiment, exemplifies “distributed capitalism” and should be mostly seen as a technological innovation. Rather than providing pragmatic answers and solutions to the current views on the financial crisis, Bitcoin provides some useful and timely questions about the principles and bases of the dominant political economy.
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“THE once-glowing core body of law within the Judeo-Christian Bible has become all but ignored – indeed, rejected – by the colder temper of our times. This core provided for periodic restoration of economic order by rituals of social renewal based on freedom from debt-servitude and from the loss of one’s access to self-support on the land. So central to Israelite moral values was this tradition that it framed the composition of both the Old and New Testaments.
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the power currently used for Bitcoin mining is comparable to Ireland’s electricity consumption * Article: Bitcoin Mining and its Energy Footprint. By Karl J. O’Dwyer† and David Malone. ISSC 2014 / CIICT 2014, Limerick, June 26–27 From the Abstract: “Bitcoin is a digital cryptocurrency that has generated considerable public interest, including both booms in value …
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“The still raging financial crisis of 2007–2008 has enabled the emergence of several alternative practices concerning the production, circulation and use of money. This essay explores the political economy of the Bitcoin ecosystem. Specifically, we examine the context in which this digital currency is emerging as well as its nature, dynamics, advantages, and disadvantages. We conclude that Bitcoin, a truly interesting experiment, exemplifies “distributed capitalism” and should be mostly seen as a technological innovation. Rather than providing pragmatic answers and solutions to the current views on the financial crisis, Bitcoin provides some useful and timely questions about the principles and bases of the dominant political economy.”
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Here’s a very special treat. Originally published on Guerrilla Translation, Movimiento por la Democracia´s “Charter for Democracy” stands out as premier example of citizen-led solution making to the various crises we face. It is a constitution for the commons written by commons.
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