Doesn't need to.
You issue tokens for your goods/services. No need for currency other than your commitment to give, for example, one hour of labor for each token.
Everyone in the network does the same.
Failure to honor token redemption results in reputation loss.
How much of their stuff you get in exchange for yours is determined by expectations defined by both parties beforehand in their respective token issuance smart contracts, and calculated automatically by the network (fairly simple algorithm).
This should work well for medium-sized communities.
No more "prices", no more speculation of any kind, no inflation (or deflation), only reputation and commitment.
100% networked barter.
inventor
npub1kt…l9429
2024-04-16 20:35:20
in reply to nevent1q…5whc
Author Public Key
npub1ktup68luetvkq9agecps0chhw7j8dtk5mtez3993x4wzex8w5ysqfl9429Published at
2024-04-16 20:35:20Event JSON
{
"id": "f8a6828b8353c4e682f74391f7aabeb0c626c1a746851ee5ca947e06e6b8c84d",
"pubkey": "b2f81d1ffccad96017a8ce0307e2f777a476aed4daf22894b1355c2c98eea120",
"created_at": 1713299720,
"kind": 1,
"tags": [
[
"e",
"d35b909167e42155ddb7e42d47b607659efa17c3992cbfcb5acd8a642ab8c83b",
"",
"root"
],
[
"e",
"f0d84b87b1aca69bebee23a0c24d9c028ce881cc4b3b4b4356d4e10835399142",
"",
"reply"
],
[
"p",
"273d77da30025faa363e40b61155afc83d9bf76b77a937c23357f3fd92f85aca",
"",
"mention"
],
[
"p",
"77ce56f89d1228f7ff3743ce1ad1b254857b9008564727ebd5a1f317362f6ca7",
"",
"mention"
]
],
"content": "Doesn't need to. \n\nYou issue tokens for your goods/services. No need for currency other than your commitment to give, for example, one hour of labor for each token. \nEveryone in the network does the same. \nFailure to honor token redemption results in reputation loss. \nHow much of their stuff you get in exchange for yours is determined by expectations defined by both parties beforehand in their respective token issuance smart contracts, and calculated automatically by the network (fairly simple algorithm). \n\nThis should work well for medium-sized communities. \nNo more \"prices\", no more speculation of any kind, no inflation (or deflation), only reputation and commitment. \n100% networked barter. ",
"sig": "9432dd984832f955e2738fde9af5e4ea90257a4c8ca05595aa9d825f969d8b7f3f2ad85a0e3774a649d8991fcb7f2bf473eeedfe2ab199df01a22789daea15dd"
}