Creating our own cryptocurrency to crowd fund the Internet Party

There is quite a difference to creating a completely new currency than forging notes for an existing currency (Printing NZ Dollars for example).

Crypto like Bitcoin work because of what people have agreed on. Bitcoin is now legally recognised in many countries (including Australia). Its huge in Japan, and recently 1 bitcoin is now worth 4K USD. Many large companies including banks are interested in the technology behind it (Blockchain). Bitcoin works on scarcity like gold. New Bitcoins take a lot of work from computers around the world to generate and only 21 million bitcoins can ever exist.

The free market decides what one bitcoin is worth, There are many other crypto currencies like LiteCoin, Ethereum) which each have their own purposes and values

There is quite a difference to creating a completely new currency than forging notes for an existing currency (Printing NZ Dollars for example).

No there isn't.

However, rather than lend the coins, the goldsmiths would write out new paper receipts for borrowers. This meant that the bank could issue paper receipts to other borrowers without needing many – or even any – coins in the vault. With only £1,000 of coins in the vault the bank could lend out £2,000, £4,000 or as much paper money as it dared too. (Of course, the banks still faced some restrictions – if too many people came to get their money back at the same time then it would be obvious that the bank didn’t have enough money to repay everyone.)

The banks had acquired the power to create a substitute for the metal money created by the government. In effect, they had acquired the power to create money.

That is what the crypto-currencies are doing and it has the same effect. Massive inflation and the inevitable collapse of the economy.

The free market decides what one bitcoin is worth

A BitCoin is worth the same as all other currencies - nothing. Money is a tool to utilise a nations resources. Having private people creating money to utilise a nations resources results in far too much money. A major problem with the present banking system in fact.

I am wondering whether they have overcome this barrier some way?

They haven't. BitCoin has an absolute limit on how many are created and so seems to have an inbuilt limit but if anyone can create a currency then we have unlimited amount of money available and not an unlimited amount of resources.

And so if we wanted to make our own then we would need to go the same route?

Creating our own currency is the problem because if we can then everyone can.

who has the right to tell me whats legal and illegal ? The current owners of fiat money are the worst criminals ever and they want to tell me whats illegal ? Read the article about the Wörgl money experiment in the 30s - if we can make it to transfer this to the internet nobody could attack it ! http://www.lietaer.com/2010/03/the-worgl-experiment/

When I was on Exec it was about trying to win an election without big money. We were all volunteers, donating time and money as we could.

That's pretty much what we are doing now, but money is still needed

Cool, and yes it is interesting to note that perhaps some money is needed after all isn't it? But what for? to employ people who are only in it for the money and not the passion then take off when there is no more money? or for media presence and other incidentals? We need 'engaged' people at the top. If you are one of those, that's awesome.

Crowdfunding is a change. I met the founder and developer of "give a little" about 10 years ago, it has only been in the last couple of years that he has become a "thing". Do put it into the 'budget' that the idea of crowdfunding a Political Party could take some years too. No reason to not do it, but it will take time to take off. (I'd say three years at least if all the texts on change management are to be believed)

Have you asked Suzie how she spent the Electoral Commission funds? ... yes, we were given permission by them to do so ... but ...

This is a research thread to share and discuss cryptocurrencies, created in good faith.

Contrary opinions about policy subjects are fine. Using our Loomio threads as a platform to attack me and (again) attempt to create drama and undermine and divert us is not.

The malicious false allegations being posted here serve only to distract from the actual topics being discussed.

Statements like this are phrased as questions because were they instead framed as a statement of the falsehood she is actually implying, it would constitute actual actionable libel: "Have you asked Suzie how she spent the Electoral Commission funds?"

Bringing malicious bad energy to threads where there is none is a transparent behaviour, it is also immature and unacceptable. If the person involved (who resigned as a member of the party, and has subsequently been sending us toxic unsolicited emails to which we do not respond) continues this behaviour, she will be banned from the Loomio permanently.

Publish the last two e-mails I sent you to prove they were toxic (I have only sent two since I resigned) If you had responded, I might not have sought attention here.

Regarding questions, anyone is welcome to ask me for a private explanation of why I resigned from exec.

This thread is not about you, despite your attempts to make it so. We are here talking about policies and opportunities. Of course we would not respond to your needling emails. Exec has been drama-free since your departure. If you can't participate like an adult here, withdraw.