Re: [makerspaceca] cryptocurrency creation

[Brian White]

How about a real currency with some snazzy hologram in it? and some sort of plastic composition that you can scan to tell if it is real? Years ago,  I worked and shopped in Schagen in Holland.  They had a 2 Guilder coin that they minted locally (approval was given by the government)  and that was only taken  (and returned into circulation) by  local businesses and it funded repairing of the local catholic church. At the end of a year,  coins that remained locally were brought back into the bank and redeemed.  But tourists (like me) had taken most of them away as sovereigns of the visits or accidentally after a drunken night on the town.  Incidentally,  the  history the reason and how local currency worked was also done on a neat little leaflet and the whole deal about how it worked was explained.   The unredeemed coins funded the repair. So you could make "makerspace money" and have a few local businesses that use it for some transactions and if it is novel enough it might even replace the Canadian Dollar in the college area.  I have history leaflets and also some of the coins.  But it is in dutch.     

On Sat, Jul 25, 2015 at 11:26 AM, Eric Davies <ericthe...@gmail.com> wrote:

Maybe I'm missing something, but a crypto currency doesn't sound like a solution to a funding problem, more like it would exacerbate the problem.

On Sat, Jul 25, 2015 at 10:23 AM, Jason Cummer <jason...@gmail.com> wrote:

I meet with some people that are interested in starting a cryto-currency for funding research such as life extension and others that have the potential to help humanity but are still not quite able to get funding. They have experience in creating an alternative currency, the Tetla LINK. So if there are people out there with knowledge or interest in this area let me know and I'll try to connect you. Thanks,

Jason Cummer

204a61736f6e2043756d6d657220

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Eric Davies

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[irth orbits]

+jason, I'd like to get my hands 'clean' using crypto-currency as a medium to raise funds. (it's likely the same as selling shares, although more tangible due to the blockchain or related crypto parts)

+gaiatech that's a cool conjunction. crypto currencies that mate to minted coins makes sense and those snazzy holograms could literally display a cryptocurrency's private and public key to a future reader / recycler / printer. it'll work like a credit card but use local credits since the data on the hologram would be crypto-guaranteed to be what it is. sick idea!

[Jason Cummer]

I realize it's not obvious how it would work, but it can work. What we're looking for is someone who can help with coding a very simple piece of software that would allow a user who knows nothing about cryptocurrencies to turn on or off some existing altcoin mining software. Ideally it would also install the mining software and define the payment address or at least walk the user through how to do that step by step. That's all.

Jason Cummer

204a61736f6e2043756d6d657220

[Jason Cummer]

+irth03, Can you automate the scanning of the holographic information from one of these coins to be feed back into a computer .

I would assume its similar to a qr code or bar code. 

Jason Cummer

204a61736f6e2043756d6d657220

[Lisa Tansey]

I've intermittently followed the activities of these folks:

https://bitcoinmagazine.com/6127/new-liberty-dollar-silver-qr-coin-obtains-live-bitcoin-prices/

I can vouch for the intelligence and competence of Joseph Vaughn-Perling.

[Brian White]

We should acknowledge at this stage that the first paper money was just IOU's,  instead of I will return Paul's broken watch,  the IOU became  "This piece of paper redeems a beautiful antique watch (worth a hundred dollars)  (if you give it to Peter)".  .At some point,the paper retained its 100 dollar value in the minds of the people who just passed it around in barter  (Peter stored people's valuables in a huge locked room in return for thousands of iou's of various denomonations).   The  room of course had a secret back door  (because Peter was an honest man and everyone trusted him,  so it filled up really quick and he didn't have the heart to tell them that the room was full).  Eventually Peter moved away or disappeared.  Thieves broke into the room but it was empty.  The disbelieving thieves were caught and hanged for theft.   But the iou's retained most of their value and continued to be used based on their perceived value in the last transaction.  (People felt a bit better about themselves that way, they didn't feel so conned).    This belief system has not changed in any major way since that time.   Governments just dispensed with the storage room and with Peter and the back door. All you really need is the IOU's and to believe.  You should be placing your bit coins and bit money in that context.   The reason for a local paper  version paying for a local act of good is that even if Peter moves away,  something of value is left behind not just pieces of paper.     IE, true wealth has been created in the community.     

[Jason Cummer]

Yeah that's fractional reserve lending is it not

[champ...@gmail.com]

There is already a local "currency" that includes physical notes as well as a crypto currency aspect which could be used by makerspace people and is already accepted at several dozen local businesses in the Victoria area. It's called the Tetla and the website for it is at tetla.org.

I thought I should point that out. I'm joining this conversation at the request of Jason Cummer. I'm Charles Champion, one of the people he mentioned in his original post on July 25. He tried to post a link to our website in his original post, but it seems to have not worked somehow so that key point got left out of the conversation. He mentioned that we are talking about starting a cryptocurrency in connection with fundraising. That's true, but that's a different currency for that specific purpose. Since you guys are apparently interested in alternative currencies, the much more interesting fact is that we already have one that's up and running here in Victoria and has been going for over three years. Over $2,000 a month worth of transactions are going on in the tetla economy every month now.

On Sunday, July 26, 2015 at 11:31:51 AM UTC-7, gaiatechnician wrote:

[irth orbits]

This meetup could be a good event to find allies http://www.meetup.com/Victoria-Cyber-Security/events/224000556/

On Sunday, July 26, 2015 at 11:31:51 AM UTC-7, gaiatechnician wrote:

[Derek Jacoby]

There's also another local cryptocurrency in play locally. Open money. I don't know as much as I should about it, though, so I've copied Michael Linton above...