bljatRichmond Independent Community Hours - In Each Other We Trust
enWelcome to richours.org
<p>You can. Together we can. The Richmond Independent Community Hour [the "RICH"] is a Local Solution to the scarcity of dollars in Richmond, VA: an indirect trading network using mutually issued, interest free credit to make trade possible.
<p>The dollar isn't the only way to encourage people to work together. Among other benefits, interest free local currencies
<li>are resilient against recession and collapse</li>
<li>do not favor the rich by bearing interest</li>
<li>belong to communities, not to banks or governments</li>
<li>prefer local goods and services over the globalized economy</li>
<li>are used for economic regeneration and international development</li>
<p>Check out <a href="http://www.transaction.net/money/">transaction.net</a> for information on various currency systems.</p> Sun, 25 Jan 2009 20:23:13 +0000ed5231 at http://richours.orgHow this works
<p>Richmond Independent Community Hours are an interest free local currency issued by mutual credit, meaning that anyone in the system with a need or want can issue it to anyone who has supplied that need or want. This decentralized approach means that RICH's are always in sufficient supply to go around, and can exist without the issuance of a central authority.</p>
<p>This is an indirect time trading network. What we are trading is our time and effort represented by credits called Richmond Independent Community Hours or RICH's. The RICH's you earn can be spent with anyone in the system who is willing. This allows us to get passed problems with barter such as dependency on a mutual coincidence of wants. Our system is always consensual so even as a member there is never any obligation to trade.</p>
To be eligible for membership you must be able to offer something to people in the Richmond area you are willing to accept RICH's for. You don't have to always accept them or them exclusively. There is never any obligation to trade. If for some reason this isn't you but you are interested in this project and want to contribute to our discussions, you may join the site as a non trading forum user. Forum users cannot view member profiles.
<p>The entire system should always remain at a zero balance. When you apply for an account and it is approved, you will have a balance of zero. When you conduct your first transaction, your balance will either become negative or positive, depending on which side of the transaction you are on. A negative balance means you have made a promise to provide goods and or services to the community in the future. For this reason <bold>you must have a balance of zero when you leave the system.</bold> </p>
<p>This system is still a work in progress. We haven't reached consensus on everything yet. See the <a href="http://www.richours.org/forums">forums</a> for more information on decisions in debate. These decisions will be decided democratically by near consensus agreement by anyone in the system willing to vote in the polls.</p>
<p>The basic unit of exchange (each integer in your account balance) is equivalent to a dollar and could be thought of as representing a 12th hour of time, or whatever you would like to charge for an hour of your time. You are completely free to ask for more than 12 per hour, and the people you are hoping to do business with are completely free to refuse if they think the price is too high. You are also free to ask for payment partially in Federal Reserve Notes. This may be necessary if you are an electrician, say, and you need to buy supplies.</p>
<p><span style="font-weight: bold;">How to conduct a transaction.</span><br />
Once a trade has taken place, use the "start new transaction" link in "Create Content" in the navigation menu in the left side column under your user name. Choose pending payment or invoice from the first drop down, and fill in at least one word in the description blank. you must select who you're transacting with from the drop down. Don't worry about the part of that form or any other labeled "meta tags", those are for search engines. Be sure to change the rating you are giving the good or service as the default is "unacceptable". This ratings system is meant to aid the self regulation of the system.</p>
<span style="font-weight: bold;">Other stuff.</span><br />
We aren't responsible for the quality of the goods or services offered by individual members. That's what the rating system is for. Just like in the real world, CHECK REFERENCES!
Don't use this site to sell or advertise illegal goods or services. You still have to report this on your taxes which is the responsibility of each individual participant in the system and not Richmond Independent Community Hours. The system merely facilitates exchange and therefore doesn't report.
Fri, 06 Feb 2009 19:44:08 +0000ed52314 at http://richours.org