New Epic Fail Currency? 'Occcu' - page 5.

AnonymousBat

member

Activity: 111

Merit: 10

Quote from: cbeast on February 07, 2012, 12:21:10 PM

Quote from: AnonymousBat on February 07, 2012, 12:15:48 PM

Quote from: FlipPro on February 07, 2012, 12:14:12 PM

Why not use Bitcoin?

Because they don't like the fact that people save their money. Remember, it's all about SPENDSPENDSPEND!

Some dweebs are mining OCCU as alt cryptocurrency on their CPUs and issuing it (the OCCU, I mean) to OWS women they like.

You know there were some pretty hot naked Occupy chicks at Davos running around topless.

Excuse me while I make a bunch of accounts.

Come to think of it, can't you get around the spending problem by simply sending coins to yourself on another account?

ultima

member

Activity: 96

Merit: 10

OK I opened an account and received 20 occcus. Anyone want to trade bitcoins for them?

ultima

member

Activity: 96

Merit: 10

So, hyperinflationary currency is what occupiers want?

This is just crazy. We need some sanity in this world not more spending and buying stuff we don't need.

And what's with the monthly basic-income? I don't have to do anything to get that currency? What's the value of it then if you can get it for free? This is a very strange idea to say the least.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Some dweebs are mining OCCU as alt cryptocurrency on their CPUs and issuing it (the OCCU, I mean) to OWS women they like.

AnonymousBat

member

Activity: 111

Merit: 10

Quote from: FlipPro on February 07, 2012, 12:14:12 PM

Why not use Bitcoin?

Because they don't like the fact that people save their money. Remember, it's all about SPENDSPENDSPEND!

FlipPro

legendary

Activity: 1764

Merit: 1015

Why not use Bitcoin?

AnonymousBat

member

Activity: 111

Merit: 10

This seems to be a new currency for the 'occupy' movement. A currency that you can only have for thirty days.

The question one has to ask oneself, how do you save enough for a large purchase? Such as a house or a car? Nevermind the counterfeiting problem.

I find it humorous that someone actually spent the time to make such a system.

Quote

A new complementary currency, the Occcu, falls under the category of a “basic-income currency” which is like a form of social security paid to all individuals. About the only thingOcccu has in common with Bitcoin is that they both can be traded person-to-person online.

A promotional flyer for the Occcu describes it as “a fair global currency”. To prevent hoarding the Occcu imposes “demurrage” (negative interest). You’ll want to spend your Occcus right away as anything you don’t spend loses its value — 25% of any unspent balance after thirty days goes back to the community chest.

The currency can be spent from a mobile through the web interface. Paper checks are available but simply act as a receipt for the payment recipient to hold until the sender manually enters the information at a later time once connectivity is available.

The currency was introduced at the recent World Economic Forum in Davos.

The name Occcu comes from OCCupy-CUrrency, a currency that would be desirable to (some/many in) the Occupy movement. Users registered with the Occcu.com website receive a chunk of the currency during sign-up and will receive the basic-incoome allotment monthly. The Occcu website lets registered users view and place ads for trade, make payments and P2P transfers.

It is not apparent yet how counterfeiting will be prevented as currently a single individual can create multiple identities and receive the full basic-income for each.

There have been calls from some individuals for Bitcoin to be forked or to be superceded with an alternate blockchain to introduce features such as demurrage. Many Bitcoiners are attracted to Bitcoin specifically because its current economic properties. The the software could technically accommodate these changes, buy-in would need to come from these individuals as they hold the power to refuse to switch to software the devalues the currency they hold.

However just as Bitcoin was the catalyst for the conversation on various aspects of money the Occcu will likely cause further conversation as well.

http://www.bitcoinmoney.com/post/17199295201/introducing-the-occcu

Topic: New Epic Fail Currency? 'Occcu' - page 5. (Read 8255 times)