Geocurrency-a geocoin community currency

[+Eric K]

I've been doing a little reading on places that have local currencies. Basically it is currency only used within certain communities.

 

I was wondering if the Geocoin community would be interested in a Geocurrency or not.

 

The idea is items and times could be assigned Geoprices.

 

Example. I'll trade my XYZ coins for this or that coins or $2 Geodollars.

 

Or maybe coin artist could offer thier services for X dollars and X Geodollars.

 

This is just an idea at this stage and I'm just looking for your opinions/thoughts on an idea like this and if you think it would work or not.

 

Thanks

Eric K

[+Nero]

no

[+501_Gang]

I've been doing a little reading on places that have local currencies. Basically it is currency only used within certain communities.

 

I was wondering if the Geocoin community would be interested in a Geocurrency or not.

 

The idea is items and times could be assigned Geoprices.

 

Example. I'll trade my XYZ coins for this or that coins or $2 Geodollars.

 

Or maybe coin artist could offer thier services for X dollars and X Geodollars.

 

This is just an idea at this stage and I'm just looking for your opinions/thoughts on an idea like this and if you think it would work or not.

 

Thanks

Eric K

 

Kind of like a Geo-Credit account? Not sure I like it, I can see people going Geo-Bankrupt or Geo-Chapter 11.

Edited November 23, 2007 by 501_Gang

[+RifleMan81]

no

 

no x 2

[+forthferalz]

no

[CinemaBoxers]

Not for me... I work for coins, but need those real USD's!!

[+007BigD]

Would the currency be in the form of coins???? Sounds complicated, but got my attention.

 

Cant see how it would work, would the geocurrency be something that would be held in an account type thing???

[+luckycharmer]

WHY? How would it be a benefit?

[+FluteFace]

I think a 'native' currency is enough -- USD, Pounds, Euros or ??? That seems like enough. It seems to me that the addition of another currency will just make the situation more complex.

 

So "Thanks" but "No Thanks!"

[+WWC-World's Worst Cacher]

I think it is a cool idea, but mechanics would be difficult and it in effect already happens in the trade thread. The little bit of experience I have had with barter currencies seems to indicate there is severe inflationary pressure and that instead of providing a better way to level the playing field it just becomes more complicated trying to figure out real values.

 

Right now, I think ebay does a pretty nice job of allowing people to determine the value of coins.

 

My thoughts,

[oakcoins]

If trading these between companies, you need to be careful about getting raided by the FBI:

 

http://www.libertydollar.org/

[+501_Gang]

If trading these between companies, you need to be careful about getting raided by the FBI:

 

http://www.libertydollar.org/

 

That's wild! About 2 years ago there was a guy putting $10 Liberty Silver coins in caches and they were really hard to find. I was one of the lucky finders. Wonder if it's worth anything now?!?

[oakcoins]

If trading these between companies, you need to be careful about getting raided by the FBI:

 

http://www.libertydollar.org/

 

That's wild! About 2 years ago there was a guy putting $10 Liberty Silver coins in caches and they were really hard to find. I was one of the lucky finders. Wonder if it's worth anything now?!?

 

http://cgi.ebay.com/2003-NORFED-1-ounce-SI...1QQcmdZViewItem

[+dhenninger]

Only problem, according to the wording of the court paperwork, any pne in possession of these coins is in violation of federal law. That being said, I would love one of these

[+Eric K]

If trading these between companies, you need to be careful about getting raided by the FBI:

 

http://www.libertydollar.org/

 

I am well aware of the liberty dollar issue. I am not talking about something to actually take the place of US Currency or to be used in it's place.

 

My thinking is more along the lines of it would be the same as trading Geocoins. I think it could help new people starting out that may want to trade coins.

 

For example people on the trading sites could have things like I'll trade my coin for this coin, that coin, or X amount of Geobucks.

[+501_Gang]

http://cgi.ebay.com/2003-NORFED-1-ounce-SI...1QQcmdZViewItem

 

Yep, that's what I got. I! Thanks Christian

[+Eric K]

To All:

 

Before this thread veers way off track this is an idea that is not like Liberty Dollars. This is not any attempt to try to replace currency.

 

I just want to keep this topic on track before it veers off into another subject.

 

I understand why the post on the Liberty Dollars were made but this idea is not about replacing actual currency and backing it with Gold and Silver.

 

Thanks

[+ScoutingWV]

nope.

[+501_Gang]

If trading these between companies, you need to be careful about getting raided by the FBI:

 

http://www.libertydollar.org/

 

I am well aware of the liberty dollar issue. I am not talking about something to actually take the place of US Currency or to be used in it's place.

 

My thinking is more along the lines of it would be the same as trading Geocoins. I think it could help new people starting out that may want to trade coins.

 

For example people on the trading sites could have things like I'll trade my coin for this coin, that coin, or X amount of Geobucks.

 

So would this include coin companies that sell coins?

[+Eric K]

If trading these between companies, you need to be careful about getting raided by the FBI:

 

http://www.libertydollar.org/

 

I am well aware of the liberty dollar issue. I am not talking about something to actually take the place of US Currency or to be used in it's place.

 

My thinking is more along the lines of it would be the same as trading Geocoins. I think it could help new people starting out that may want to trade coins.

 

For example people on the trading sites could have things like I'll trade my coin for this coin, that coin, or X amount of Geobucks.

 

So would this include coin companies that sell coins?

 

That would be up to the individual companies.

 

This is all just discussion at this point so there are no definite answers.

[+AtlantaGal]

I'll say no since it sounds confusing.

[+GEO*Trailblazer 1]

SAY's Law.

SAY's Law

Is the idea a supply and demand type exchange?

 

If you look up the YOCUM DOLLAR you will find some intersting history.

Yocum Dollar

It does not replace money it is used as a local bartering item.

 

Am I on the right track here?

[+OshnDoc]

NOT interested. Sorry.

[+KoosKoos]

If trading these between companies, you need to be careful about getting raided by the FBI:

 

http://www.libertydollar.org/

 

I am well aware of the liberty dollar issue. I am not talking about something to actually take the place of US Currency or to be used in it's place.

 

My thinking is more along the lines of it would be the same as trading Geocoins. I think it could help new people starting out that may want to trade coins.

 

For example people on the trading sites could have things like I'll trade my coin for this coin, that coin, or X amount of Geobucks.

 

How is that any different than I'll trade my coin for this coin, that coin, or X amount of Dollars/Pounds/Euros/Loonies, etc, etc, etc?

 

Sounds confusing to me.

[+Mr.Explorer3]

Well, if everyone is against it, I am all for it.

[general_tupperware]

I think it would be quite neat.... if it could work. I don't think that it could work, unless everyone in the community was 100% honest, and unable to make mistakes.

 

I think that a digital accout keeping system along these lines would work better than a physical coin system, but still would not work.

 

My answer is no.

 

GT

[+Eric K]

I appreciate all the replies so far. They have been very interesting.

 

Here is my thought on how these would work. Once again this is all more of a 'thinking out loud' type of idea right now.

 

Here are some rough ideas. I have a way of making things sound more complicated than they really are. :-)

 

1. Don't have the method yet but maybe have a committee formed that will determine how many "Geodollars" would be made. (monthly, yearly, when supplies run low?)

 

2. Maybe kind of have them like the EURO. One common side for all the vendors in the program but they each are allowed to design their own side.

 

3. Have the coins made of a low cost metal and 2-D design to keep the cost down. Include the year and sequential numbering.

 

4. Customers can buy the Geodollars from the different vendors while they have a supply.

 

5. Coins can be resold by vendors when vendors accept them for payment.

 

Example Vendor A is offering geocoin they are selling for $.8.99. They could offer the coin for sale at that price or $9 Geobucks. If they recieve those 9 Geobucks then they could be sold again to buyers for $1 dollar each.

 

6. I think the main focus though would be for trading and especially for new members to the community that want to start trading but don't know where to start.

 

If they go to the trading sites and see that a person is offering their coin for say 5 Geodollars you as the selller could accept that as a trade and then purchase items from a vendor that may have something on sale for 5 Geodollars or use them to trade for other coins.

Edited November 25, 2007 by Eric K

[+9Key]

I appreciate all the replies so far. They have been very interesting.

 

Here is my thought on how these would work. Once again this is all more of a 'thinking out loud' type of idea right now.

 

Here are some rough ideas. I have a way of making things sound more complicated than they really are. :-)

 

1. Don't have the method yet but maybe have a committee formed that will determine how many "Geodollars" would be made. (monthly, yearly, when supplies run low?)

 

2. Maybe kind of have them like the EURO. One common side for all the vendors in the program but they each are allowed to design their own side.

 

3. Have the coins made of a low cost metal and 2-D design to keep the cost down. Include the year and sequential numbering.

 

4. Customers can buy the Geodollars from the different vendors while they have a supply.

 

5. Coins can be resold by vendors when vendors accept them for payment.

 

Example Vendor A is offering geocoin they are selling for $.8.99. They could offer the coin for sale at that price or $9 Geobucks. If they recieve those 9 Geobucks then they could be sold again to buyers for $1 dollar each.

 

6. I think the main focus though would be for trading and especially for new members to the community that want to start trading but don't know where to start.

 

If they go to the trading sites and see that a person is offering their coin for say 5 Geodollars you as the selller could accept that as a trade and then purchase items from a vendor that may have something on sale for 5 Geodollars or use them to trade for other coins.

And what will US Geocoins change for this service? If this idea came from someone that's not a vendor I'd be much more interested.

Edited November 25, 2007 by 9Key

[+Eric K]

I appreciate all the replies so far. They have been very interesting.

 

Here is my thought on how these would work. Once again this is all more of a 'thinking out loud' type of idea right now.

 

Here are some rough ideas. I have a way of making things sound more complicated than they really are. :-)

 

1. Don't have the method yet but maybe have a committee formed that will determine how many "Geodollars" would be made. (monthly, yearly, when supplies run low?)

 

2. Maybe kind of have them like the EURO. One common side for all the vendors in the program but they each are allowed to design their own side.

 

3. Have the coins made of a low cost metal and 2-D design to keep the cost down. Include the year and sequential numbering.

 

4. Customers can buy the Geodollars from the different vendors while they have a supply.

 

5. Coins can be resold by vendors when vendors accept them for payment.

 

Example Vendor A is offering geocoin they are selling for $.8.99. They could offer the coin for sale at that price or $9 Geobucks. If they recieve those 9 Geobucks then they could be sold again to buyers for $1 dollar each.

 

6. I think the main focus though would be for trading and especially for new members to the community that want to start trading but don't know where to start.

 

If they go to the trading sites and see that a person is offering their coin for say 5 Geodollars you as the selller could accept that as a trade and then purchase items from a vendor that may have something on sale for 5 Geodollars or use them to trade for other coins.

And what will US Geocoins change for this service? If this idea came from someone that's not a vendor I'd be much more interested.

 

I take it you mean charge for this service.

 

There wouldn't be a charge. If you note in points 2 and 5 above and in my earlier post I mention that it would be open to vendors that want to participate. That post also mentions how participating vendors could possibly have their own common side.

 

I also mention in post 1 above about the possibility of having a committee formed.

 

Thanks

Eric

Edited November 25, 2007 by Eric K

[+wutzebear]

For me it's no alternative system to the one existing:

 

when you have to send real coins to pay, the shipping costs (especially across the ocean) go higher than high. Sending 10 Geo$ from Germany to the US costs you € 8.00 (which means more than 11 US$). Also shipping goes a lot slower (most times around 2 weeks).

 

So even if i take on the seller's paypal fees, the system used until now is a lot faster and cheapler. For me that's the KO to the Geo$

[+Wij Drie]

Don't use dollars. They aren't strong currency the last months.

 

tot cache,

team Wij Drie

[+Nero]

I appreciate all the replies so far. They have been very interesting.

 

Here is my thought on how these would work. Once again this is all more of a 'thinking out loud' type of idea right now.

 

Here are some rough ideas. I have a way of making things sound more complicated than they really are. :-)

 

1. Don't have the method yet but maybe have a committee formed that will determine how many "Geodollars" would be made. (monthly, yearly, when supplies run low?)

 

2. Maybe kind of have them like the EURO. One common side for all the vendors in the program but they each are allowed to design their own side.

 

3. Have the coins made of a low cost metal and 2-D design to keep the cost down. Include the year and sequential numbering.

 

4. Customers can buy the Geodollars from the different vendors while they have a supply.

 

5. Coins can be resold by vendors when vendors accept them for payment.

 

Example Vendor A is offering geocoin they are selling for $.8.99. They could offer the coin for sale at that price or $9 Geobucks. If they recieve those 9 Geobucks then they could be sold again to buyers for $1 dollar each.

 

6. I think the main focus though would be for trading and especially for new members to the community that want to start trading but don't know where to start.

 

If they go to the trading sites and see that a person is offering their coin for say 5 Geodollars you as the selller could accept that as a trade and then purchase items from a vendor that may have something on sale for 5 Geodollars or use them to trade for other coins.

 

I think that like any other coin out there these "Geobucks" would be hoarded and end up in collections.

 

its much easier to just pay with paypal, no shipping cost for Geobucks.

[+MustangJoni]

These sound to me like they would work like Gift Certificates, but they would actually have a cost to make them?

 

I really don't see how this would help for new collectors. They start off buying coins, and trading extras, so I don't see the big advantage of buying Geo-Bucks as opposed to coins. Actually, I see a dis-advantage in some instances. If they bought an extra of a coin that ended up being rare, then they have more trading power with that coin. Whereas, with geo-bucks, they would have a value that is set in stone.

 

Also, as a collector, I'd hoard them.

[+nielsenc]

Don't use dollars. They aren't strong currency the last months.

 

That just makes it better for you! .

[+nielsenc]

While I am not against the idea, I have a question.

 

What if one vendor floods the market with Geocurrency? Does another vendor accept the other vendors Geocurrency? How would the vendor exchange 100 coins back for real dollars/euros? Would there be a cross vendor exchange where this happens, like in Vegas where the casinos go and exchange each others poker chips?

[+Eric K]

While I am not against the idea, I have a question.

 

What if one vendor floods the market with Geocurrency? Does another vendor accept the other vendors Geocurrency? How would the vendor exchange 100 coins back for real dollars/euros? Would there be a cross vendor exchange where this happens, like in Vegas where the casinos go and exchange each others poker chips?

 

That would be the reason to have a determination by the committee to determine how many would be available at a time. Plus by having the sequential numbering would help prevent vendors from cheating.

 

If it is discovered that a vendor has multiple numbers circulating or more than they were supposed to mint the geocoin community would find out quick enough.

 

The community would also then know if they are dealing with honest vendors.

[CinemaBoxers]

I generally think its a bad idea, and really has no purpose. I mean, not to sound hostile, but, why do we need to even consider this?

 

I agree that the coins would be hoarded, and tons of extra costs involved. (Shipping, etc...)

 

A novel idea, but, I don't think it would work well in the real world. At least our ebay 'virtual dollars' can be sent immediately and received immediately, cost nothing to ship, and can spend elsewhere if needed.

[+tsunrisebey]

After giving this a little bit of thought, I came up with more problems than benefits for the average geocoin person, so my vote would be 'No' also.

 

Unless you could come up with a better explanation and show some benefits to your customers, I'm not sure how much support from the community you'd see trying to 'sell the idea' of geocurrency to a bunch of geonumismatists; it's borderline oxymoron, lol.

 

Personally I find it easier to just buy a coin with my 'real' money

 

Just my worthless 2cents

 

tsun

[+ScoutingWV]

<snip>

 

Just my worthless 2cents

 

tsun

 

But are those 2 geo-cents? If so, what are they worth in the geo-market?

 

Geo-hmmmm?