Chiemgauer alternative currency to bitcoin

The stunning rise and crash of digital currency Bitcoin last month has created a vast amount of worldwide interest in what could be a disruptive new global monetary system. The currency, which some see as a tech stockis already accepted by many e-commerce sites and chiemgauer alternative currency to bitcoin passed the first round of approval required to become a Web standard.

However, venture capitalists are taking it seriously. OpenCoin is the company developing the Ripple protocol and the investment will be used to expand it. Devised by an individual or group of people under the pseudonym Satoshi Nakamoto, Bitcoin is based on a vastly complicated computer algorithm. At the moment, there are more than 1, chiemgauer alternative currency to bitcoin so sites where you can spend Bitcoins.

Typically, a government can issue new currency at a rate tied to the amount of goods being exchanged, to create economic stability. In a Bitcoin economy, individuals that agree to run the mining algorithm on their computers are rewarded by receiving new Bitcoins. Transactions are then administered through a decentralized chiemgauer alternative currency to bitcoin network.

This means that there is no central bank or authority that chiemgauer alternative currency to bitcoin Bitcoin and, crucially, it cannot be taxed by governments. There are currently around There can be a maximum of 21 million Bitcoins in the market. To buy Bitcoins, you must transfer real money to Bitcoin exchange companies such Mt. You can also watch PandoDaily 's video below for a very brief overview:. Ripple's main difference from Bitcoin is that it's not just a single online currency; its allows you to send and receive money in dollars, euros, yen or, even Bitcoin, for the fee of one "ripple.

Some think that Ripple's diversfication away from a single currency may hedge the risk of having a centralized trading market like Mt. Gox, that is prone to attack by hackers. Another important advantage of Ripple has over Bitcoin is that transactions take as little as 10 seconds, whereas with Bitcoin they take chiemgauer alternative currency to bitcoin longer because of the intensive computer process that is involved. For now, Ripple may serve as a good market for Bitcoin, but if its own currency becomes more expedient, some say, it could also destroy Bitcoin.

Trust in a software based currency While the new e-currencies hint at the possibility of a revolution in the global money system, serious questions persist.

For instance, when chiemgauer alternative currency to bitcoin currency exists only on software and computers, what happens if there is technical problem?

Trust, control chiemgauer alternative currency to bitcoin market volatility are key issues surrounding virtual money. Famous economist Paul Krugman criticized Bitcoin for making a few rich — as with the conventional system— rather than the entire economy better off. He also points out that the real value of Bitcoin transactions has decreased as a result of hoarding. Bitcoin and Ripple are not the first wave of alternative currencies.

P2P lendingBitcoin, or Ripple may not be the robust solutions of the new economy, and economists are especially wary. But they also prove that Wall Street supports alternatives at the very least by clamoring to grab a slice of the speculative pie.

Whether e-currencies or tech-stocks, virtual currencies show how technology entrepreneurs can open the minds of more traditional economic players, who may go on to build stable solutions with the initial innovation. One thing is for sure, says security researcher Dan Kaminsky: As the virtual currency market continues to evolve, markets where e-commerce is very strong, or a rising sector, as it is in the Arab world and Turkey, entrepreneurs will have to pay particular attention to these new money systems in order to understand the future of money and dare to support alternative financial systems.

In this region, it will undoubtedly encounter more resistance from existing structures than it has in the U. Yet the beauty of it is that Bitcoin needs the approval of the web communitybut not of established institutions. A new revolution is coming, whether or not Bitcoin is just a ripple in a pond. Thank you for subscribing to Chiemgauer alternative currency to bitcoin newsletter! Subscribe To the newsletter. You can also watch PandoDaily 's video below for a very brief overview: Staff writer May 07, Staff writer May 04, Subscribe to our newsletter I want to receive: Media Research Communities Events Email address:

Chiemgauer is the name of a regional local currency started in in Prien am ChiemseeBavariaGermany. Named after the Chiemgaua region around the Chiemsee lake, it is intended to increase local employment, supporting local culture, and make the local food supply more resilient. InChristian Gelleri, a high school teacher, started this project with his students, who are in charge of designing and printing vouchers and take care of administration, accounting, advertising, and other tasks.

Chiemgauer is a member of a regional currencies' network called Regiogeld regiomoney association. The Chiemgauer is intended for: Inan electronic form of the Chiemgauer, the "eChiemgauer", was established. Bank accounts are used for operations; this has been made possible through cooperation with cooperative and local banks. Only businesses and nonprofits need additional electronic accounts, while consumers have the possibility to use electronic cards called "Regiocard".

Two-thirds of Chiemgauer turnover is electronic. Chiemgauer use has grew, and can be found primarily in Bavaria between MunichGermanyand SalzburgAustria Germany, Austria, and Switzerland combined had 30 regional currency systems as of Chiemgauer, whose value is fixed to the euro chiemgauer alternative currency to bitcoin, circulates as follows within the districts of Rosenheim and Traunstein: Bills of 1, 2, 5, 10, 20, and 50 Chiemgauer are issued.

This system, called demurrageis a form of currency circulation tax invented by Silvio Gesell. Because it loses value every quarter, users are incentivized to spend the money. The quicker money is spent, the faster, in macroeconomic terms, its velocity. Gesell argued that a higher velocity of money helps combat deflation.

There are different rules for nonprofits and businesses. From Wikipedia, the free encyclopedia. Retrieved 10 February Chiemgauer alternative currency to bitcoin Journal of Community Currency Research. Lietaer; John Rogers The Promise of Regional Currencies. Social money for sound community developmen". Archived at the Wayback Machine.

Retrieved 9 February Chiemgauer alternative currency to bitcoin from " https: Local currencies Freiwirtschaft Currencies of Germany. Webarchive template wayback links Infobox currency with an unlinked website. Views Read Edit View history. This page was last chiemgauer alternative currency to bitcoin on 3 Aprilat By using this site, you agree to the Terms of Use chiemgauer alternative currency to bitcoin Privacy Policy.

Prien am ChiemseeBavariaGermany. Velocity of moneyV.

A complementary currency is a currency or medium of exchange which is not a national currency, but which is thought of as supplementing or complementing national currencies. When speaking about complementary currencies, a number of overlapping and often interchangeable terms are in use: Many private chiemgauer alternative currency to bitcoin are complementary currencies issued by private businesses or organizations.

Other terms include alternative currencyauxiliary currencyand microcurrency. Mutual credit is a form of alternative currency, and thus any form of lending that does not go through the banking system can be considered a form of alternative currency.

Barters are another type of alternative currency. These are actually exchange systems, which only trade items; thus without the use of any currency whatsoever. Finally, LETS is a special form of barter which trades points for items. One point stands for one worker-hour of work. Advocates in the s, especially in Canada, promoted complementary currencies to supplement national currencies.

Certain leaders of this movement were careful to use the term "complementary". Since the s there has been a steady increase in the number of complementary currencies. In there were roughlyby there were over Complementary currencies are often designed intentionally to address specific issues, for example to increase financial stability. They can be useful chiemgauer alternative currency to bitcoin communities that do not have access to financial capital, and for adjusting peoples' spending behavior.

Some alternative currencies devalue rapidly they are called Schwundgeld ; this increases monetary circulation. Local chiemgauer alternative currency to bitcoin also have the benefit that they cannot be spent abroad, and thus the money always keeps circulating locally, benefiting only the local economy. Alternative currencies are reported to work as a counterbalance chiemgauer alternative currency to bitcoin the local economy.

Chiemgauer alternative currency to bitcoin increase in activity if the local economy slows down, and decrease in activity if the local economy goes up. As a commercial tool within a business, as opposed to a geographical social tool, a complementary currency can open a business up to a preferred source chiemgauer alternative currency to bitcoin whereby they can sell their otherwise devalued or worthless spare capacity in exchange for the complementary currency.

Alternative currencies promoted as local currencies that cannot be spent abroad have limited use. Lengthy use of a local currency will ultimately result in a decline in economic activity and lead to a destabilization of the economy.

This is due to the increased circulation velocity of the money as the amount in circulation decreases as currencies as Freigeld reduce in value rapidly. Often there are issues related to paying tax.

Some alternative currencies are considered tax-exempt, but most of them are fully taxed as if they were national currency, with the caveat chiemgauer alternative currency to bitcoin the tax must be paid in the national currency. The legality and tax-status of alternative currencies varies widely from country to country; some systems in use in some countries would be illegal in others. Complementary currencies describe a wide group of exchange systems, currencies or scrips designed to be used in combination with standard currencies or other complementary currencies.

They can be valued and exchanged in relationship to chiemgauer alternative currency to bitcoin currencies but also function as media of exchange on their own. Complementary currencies lie outside the nationally defined legal realm of legal tender and are not used as such.

Rate of exchange, scope of circulation and use in combination with other currencies differs greatly between complementary chiemgauer alternative currency to bitcoin systems, as is the chiemgauer alternative currency to bitcoin with national currency systems.

Some complementary currencies incorporate value scales based on time or the backing of real resources gold, oil, services, etc. A time-based currency is valued by the time required to perform a service in hours, notwithstanding the potential market value of the service.

Another type of complementary monetary systems is the barter, an exchange of specific goods or services is performed without the use of any currency. Inthe most widespread auxiliary currency system, the Local Exchange Trading Systemswas created. It regulates the exchange of goods and services between the members of the cooperative. The introductory fee paid by the new association members is subsequently directed toward investments in a variety of commercial projects.

Some complementary currencies take advantage of demurrage fees, an intentional devaluation of the currency over time, like negative interest. This stimulates market exchanges in the devaluating currency, propagates new participation in chiemgauer alternative currency to bitcoin currency system and forces the storage of wealth hoarding ability usually reserved for currency into more permanent and better value-holding tools like property, improvement, education, technology, health, equity securities, etc.

Monetary speculation and gambling are usually outside the design parameters of complementary currencies. Complementary currencies are often intentionally restricted in their regional spread, time of validity or sector of use and may require a membership of participating individuals or points of acceptance. There are some complementary currencies which are regional or global, such as the Community Exchange SystemWIR and Friendly Favors, Tibex in the Lazio region in Italy or the proposed global currency terra.

A community currency is a type of chiemgauer alternative currency to bitcoin currency that has the explicit aim to support and build more equal, connected and sustainable societies. A community currency is designed to be used by a specific group. The Toronto dollar system is fully funded by i. Participating merchants are free to exchange the Toronto dollars for Canadian dollars. Lietaer has argued that the world's national currencies are inadequate for the world's business needs, citing how 87 countries have experienced major currency crashes over a year period, and arguing for complementary currencies as a way to protect against these problems.

From Wikipedia, the free encyclopedia. After the collapse of Zimbabwe's currency incitizens started using talktime minutes as an alternate currency. Monero — a decentralized cryptocurrency that provides anonymity along with untraceability.

NuBits — the world's first stable value digital currency. Time Dollar — a state-sponsored alternative currency in the U. Ven — a digital currency used in Hub Culturea private social network [23] WIR Bank — founded inoriented towards small and mid-sized corporations. Retrieved 18 June Community, complementary and local currencies' types and generations" PDF. International Journal of Community Currency Research. Retrieved 3 April Rietaer, "Global Complementally Currency: Community Currencies in Action.

Retrieved 17 June Currencies, Profit, and Long-Term Thinking". Retrieved 20 March Retrieved 28 August Retrieved 3 December Ethereum Ethereum Classic KodakCoin. Dogecoin Gulden Litecoin PotCoin. Dash Decred Primecoin Auroracoin. Proof-of-authority Proof-of-space Proof-of-stake Proof-of-work system. Anonymous Internet banking Bitcoin network Complementary currency Crypto-anarchism Cryptocurrency exchange Digital currency Double-spending Electronic money Initial coin offering Airdrop Virtual currency.

Digital currency Cryptocurrency Virtual currency. Chiemgauer alternative currency to bitcoin of historical currencies Barter Alternative currency Flex dollar Loyalty program Smart chiemgauer alternative currency to bitcoin. Retrieved from " https: Local currencies Monetary reform Alternative currencies E-commerce Cryptocurrencies.

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