Thousands of people in an American community have stopped using US dollars

[JP-pornshooter]

this is how Brazil fixed its economy not too long ago.
since their real currency had a huge inflation problem due to no confidence by the population, they invented a new currency, called it URV (unit real value).
All prices and wages were listed in the new "fake" currency and the actual currency the "cruzeiro" would be fluctuating. Within long confidence was built in the new currency and the old currency was completely retired.

[L-Pink]

It isn't really the currency as they could use the U.S. dollar and affect the same results. It reminds them to keep their local economy stimulated by spending locally, by using their local currency.

Good point. Communities, just like countries can have negative trade balances. This is an attempt to keep money in the community not wire transferred out daily by walmart and other big chains.

.

[JamesGw]

this is how Brazil fixed its economy not too long ago.
since their real currency had a huge inflation problem due to no confidence by the population, they invented a new currency, called it URV (unit real value).
All prices and wages were listed in the new "fake" currency and the actual currency the "cruzeiro" would be fluctuating. Within long confidence was built in the new currency and the old currency was completely retired.

I didn't know that. Pretty interesting.

[CyberHustler]

I used subway tokens when I lived in NY.

I don't think we've used tokens here for at least 10 years... musta been a long while ago you lived here lol.

[JP-pornshooter]

just read the full article.
it is a great way of circumventing the greatest of all evil; the banks.
but unfortunately it has poor trading qualities for goods or services outside of that small community.
but imagine if they took it off the dollar and linked to gold or maple syrup, pretty quick would their currency be valued higher than US greenbacks.

[Si]

Best be careful how this works and who controls it.

Never forget what happened to miners in the past who were getting paid in a specific currency and being forced to buy from the shops the same people paying them owned.

They paid them in a local currency and the only places they could spend this currency was in the shops etc owned by the people who were paying them.

Full control of the people.

[DWB]

You guys do what you want, I'm going to keep mining BitCoins.

;-)