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(PBS)   Old and Busted: Bitcoins and other virtual currencies. New Hotness: Homespun, local currencies printed up in someone's garage   (pbs.org) divider line 21
    More: Interesting, currency, Western Massachusetts, PBS NewsHour, Berkshire County, Berkshires, Walmart, alternative currency  
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946 clicks; posted to Business » on 06 Sep 2013 at 10:45 AM (32 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



21 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2013-09-06 09:13:37 AM
Give me five bees for a quarter.
 
2013-09-06 09:30:53 AM
Illegal?

But the real question is why? We have stable currency. I'll guess people figure they can only be taxed on US money they acquire. Man, people can sure get a lot of "dont' trust the government" going.

Only a fool thinks their made up currency is not subject to inflation. They are intentionally trying to increase demand for the currency which will increase it's value, more so if not matched by supply. I.E, inflation.
 
2013-09-06 11:01:17 AM
At first I was like

www.sacredconnections.co.uk

But then I lolled

2.bp.blogspot.com
 
2013-09-06 11:05:43 AM
Not new.  Plenty of places have been doing this for years.  Ithaca, NY is one example.
 
2013-09-06 11:58:05 AM
If you need to buy BerkShares with real dollars, then how is this any different than the tokens you use at Chuck E Cheese to play the games?
 
2013-09-06 12:03:30 PM
 
2013-09-06 12:13:19 PM
Emperor Norton already did that.
 
2013-09-06 12:41:22 PM
Hot topic!
 
2013-09-06 12:56:58 PM

edmo: Only a fool thinks their made up currency is not subject to inflation. They are intentionally trying to increase demand for the currency which will increase it's value, more so if not matched by supply. I.E, inflation.


Price inflation and monetary inflation are different things.
 
2013-09-06 01:08:56 PM

edmo: But the real question is why? We have stable currency. I'll guess people figure they can only be taxed on US money they acquire. Man, people can sure get a lot of "dont' trust the government" going.


For all the things the government does wrong, they put a LOT of effort into stopping counterfeit currency from being produced.

Things that can be made via Laserjet in the garage are not a stable source of equity.
 
2013-09-06 02:21:36 PM

Pick: Hot topic!


So base our country's economy on Ed Hardy apparel?  No thanks, too many people would emigrate on principle.
 
2013-09-06 03:09:38 PM

MugzyBrown: Price inflation and monetary inflation are different things.


Yeah, that's actually deflation.

Of course if you have a deflationary currency and a stable one people are going to hoard the deflationary one and just keep spending dollars.
 
2013-09-06 03:18:26 PM

edmo: Illegal?

But the real question is why? We have stable currency. I'll guess people figure they can only be taxed on US money they acquire. Man, people can sure get a lot of "dont' trust the government" going.

Only a fool thinks their made up currency is not subject to inflation. They are intentionally trying to increase demand for the currency which will increase it's value, more so if not matched by supply. I.E, inflation.


Also, if they do spend that money in the US, even though they made up the currency, the Constitution still gives the government the power to tax transactions made with it (again assuming it happens in the US or with American citizens).
 
2013-09-06 03:34:19 PM
Can I buy this with Taffy's Cash?  Yeah my kid drew it with crayons, she's an idiot.  It might have been the booze I bought from you with actual cash when I was carrying her but who's to judge?
 
2013-09-06 03:39:27 PM

space1999: If you need to buy BerkShares with real dollars, then how is this any different than the tokens you use at Chuck E Cheese to play the games?


In theory, once you buy the tokens, their value will never change.  You should always be able to trade in the tokens for exactly what you paid.  I assume the relative dollar value of BerkShares or any other "currency" changes day-to-day.
 
2013-09-06 05:02:20 PM
I'm waiting for the Amero to take off then ill be rich!!.............still waiting.
 
2013-09-06 05:23:36 PM

edmo: Illegal?

But the real question is why? We have stable currency. I'll guess people figure they can only be taxed on US money they acquire. Man, people can sure get a lot of "dont' trust the government" going.

Only a fool thinks their made up currency is not subject to inflation. They are intentionally trying to increase demand for the currency which will increase it's value, more so if not matched by supply. I.E, inflation.


The idea is to force people to shop locally or pay a premium to exchange for dollars to shop non-locally. RTFA
 
2013-09-06 05:54:15 PM
Currency is bullshiat anyway.

/I can't think of a better system
//I'd use barter if I could.
 
2013-09-06 07:19:43 PM
I remember reading about local currencies as a child and thinking, "That's the dumbest idea ever."

Still true.
 
2013-09-06 07:59:31 PM

syberpud: Pick: Hot topic!

So base our country's economy on Ed Hardy apparel?   No thanks, too many people would emigrate on principle.


And this would be a bad thing?

/except for Ed Hardy, fark Ed Hardy
 
2013-09-06 08:49:54 PM

space1999: If you need to buy BerkShares with real dollars, then how is this any different than the tokens you use at Chuck E Cheese to play the games?


The goal here isnt so much to make an alternate currency, but to make a local one. That Chuck E Cheese token, for example, can be used in any CEC in the nation. Therefore, people with a CEC token might then spend that token elsewhere.

With the Berkshares, since it has no real value outside the region, someone spending one back would have to do so within the region.

Using the wal-mart as mentioned in the article. For every US dollar wal-mart brings in, 70c may stay local paying wages, taxes, etc, but 30c still will wind up back in Fayetteville AR (the home office). If they took in a Berkshare, they would need to spend all one share back into the region (which is doesn't want to do) as the remaining balance it would have left after local expenses would be worthless back in Arkansas.
 
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