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TOPIC:

Noney

7
Prostatakrebs Prohylaxe
05-30-2011
04:54 AM ET (US)
                             
The bigger they are, the harder they fall.
6
AltaGid
08-21-2007
04:35 PM ET (US)
Hello! Help solve the problem.
Very often try to enter the site, but says that the password is not correct.
Regrettably use of remembering. Give like to be?
Thank you!
5
David MercerPerson was signed in when posted
09-02-2003
06:39 PM ET (US)
moof, in the US at least, such currencies are considered taxable by the IRS (as is any gain realized via barter).

The IRS will (if you haven't on the appropriate form!) estimate the value (in $) of any goods or services received, and tax you on the difference between that and any goods or services rendered in trade for them. Whether it's all done via barter or some kind of LETS system.

The only such systems to avoid this in the US were crippled into unusability as a general trade mechanism to be able to avoid taxability.
4
Eli the BeardedPerson was signed in when posted
09-02-2003
03:49 PM ET (US)
It is interesting that the face value $0 currency is $100 for
an uncut sheet of ten bills.
3
moofPerson was signed in when posted
09-01-2003
08:03 PM ET (US)
/m1 perhaps you're referring to Local Economic Transaction Systems (or LETS for short). Basically made up units of currency with no backing that are not interchangable for monies (that bit is for tax purposes mainly); everyone can apply for an account and start earning units or spending units - there will always be the same amount of overdraughts as 'savings', so the total sum of all the units is zero.

Getting into a little "debt" (there is no real debt of course, just negative bank balances) is encouraged to kick-start the system, as is spending what you've got.

Typically people get paid for services rendered, and not for products. For example, you might help painting my attick, I might help some old lady get along better with her computer, and she in turns bakes a wonderful weddingcake for you. Of course there is nothing particularly new about this; it's just a more sophisticated way of "calling in favors" or "giving something back to the community".

Also, in countries with hyperinflation, and not much "hard currency" to go round, people tend to invent backed-by-nothing currencies of their own (which usually collapse soon after when it turns out either the "legitimate" issuers or counterfeiters are printing huge amounts of free money for themselves).
2
NebulinaPerson was signed in when posted
09-01-2003
03:20 AM ET (US)
Damn, now I have an insult to top "50-cent whore".
1
@lph@m@lePerson was signed in when posted
09-01-2003
12:16 AM ET (US)
I like whuffie better. "Noney" conveys the idea that the tender - hence whatever you're buying/accrediting is devoid of value.

I do like the idea that each noney note is unique - i've always thought the only card worth giving is hand made by the giver.

How bout it Cory - paper whuffie? .... mebbe a central database, right, so you print out a whuffie certificate to give, which has a link to an online record "<someone> accords <someone> a vote of whuffie for <doing stuff>", which could then be seconded by other visitors.

<insert reference to a site I should have known about that did exactly this made months ago>

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