Social Enterprise

I can get rich, and then donate some of my money to good causes.

Why not run a company that concentrates on improving social and environmental conditions through its daily operations instead? That’s a lot more efficient, and ultimately more satisfying.

We often justify the unscrupulous actions of modern robber barons because they contribute money to philanthropy and the arts.

From a purely economic perspective, philanthropy is inefficient.

A person who has accumulated billions of dollars and in doing so has caused others to lose their jobs, closed the door of small businesses, or ravaged the environment, and then donates a small percentage of his fortune to correcting those problems or to the arts, would have served the world far better by making fewer profits while increasing employment, supporting small businesses, and insisting that his executives practice good environmental stewardship.

Excerpt from the book published by John Perkins back in November 1, 2011

Hoodwinked: An Economic Hit Man Reveals Why the Global Economy IMPLODED — and How to Fix It

How many Bitcoin being echanged in 5 minutes?

You can now watch the world currencies flow into BTC in realtime, thanks to FiatLeak.com

Image above shown a sample of the info. Each trade results in a Bitcoin being sent from the currency counter in red to the country on the map. The value in BTC is listed in green and plotted across the map. The last exchange rate for each currency is listed in @purple and updated for each trade.

In the sample above, 106.8 Bitcoin being exchanged from US Dollar, Chinese Yuen, Italian Lira (ILS), Brazillian Real (BRL), and South African Rand (ZAR) in past 5 minutes when the editor is checking out the website.

Fiat Money VS Cryptocurrency

The invention of the blockchain has given rise to a new species of currency, that of crypto currency. Existing innovations in the cryptocurrency space foreshadow the potential that currencies could be designed as such to not only act as currencies but represent other forms of value as well.

Decentralized, which implies a trust-less and distributed network, made possible through blockchain-based technology.

Image source: https://www.coindesk.com/origins-money-darwin-evolution-cryptocurrency/

What makes the money world goes round?

For any currency to be viable, be it a decentralized cryptocurrency issued by a computer program or a traditional “fiat” currency issued by a government, it must win the trust of the community using it.

The whole point of cryptocurrency is to offer an alternative model for that trust.

Trust is at the core of any system of money.

Cryptocurrency systems imbue trust in an inviolable, decentralized computer program that is, in theory, incapable of defrauding people. None of this, however, gets cryptocurrencies off the hook.

They, too, must win people’s trust if they are to become relevant.

Can a soon-to-be married couple live their first 90 days of wedded bliss using virtual currency?

The virtual currency Bitcoin has been much in the news lately. Most of the news has focused on scams and swindles and Ponzi schemes, but can you actually just simply live on Bitcoin?

Austin and Beccy Craig did it, back in 2013, when Bitcoin was still far away from the radar of most media.

How they did it? They started a fundraising campaign on Kickstarter, Life On Bitcoin – A Documentary Film.

They had a very simple and straightforward task – for the first 90 days of their marriage, they were vowing to only use bitcoin. Food, fuel, rent… every necessity without using US dollars.

The response? 247 backers pledged $72,995 to help bring this project to life.

Related Info:

Life on Bitcoin Official Trailer 2017

Can a soon-to-be married couple live their first 90 days of wedded bliss using virtual currency?

You can check out the project’s official website here: http://lifeonbitcoin.com/

Couple Lives on Bitcoin for 101 Days

Can you actually just simply live on Bitcoin? Austin and Beccy Craig did and explain their experience on MoneyBeat, back in 14th Nov 2013.

Why do people call it currency?

A currency, as defined, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.

Let’s illustrate it in an oversimplified story.

One day, a lady came to a town where everybody seems to be living on debt.

She stopped by a motel, put down a $1,000 notes on the reception table as the deposit, and said that she’d like to check out the rooms upstairs.

As the lady walked upstairs, the motel owner grabbed the $1,000 notes, ran to the butcher next door and settled his bill.

With that $1,000 notes, the butcher ran to the farmer who lived opposite the river and paid his debt.

The farmer cleared his $1,000 debt to his supplier with the money he just received from the butcher.

The supplier quickly settled his bill with the masseur for last night’s services.

With this $1,000, the masseur paid the room rental to the motel owner.

As the lady walked down the stairs, the $1,000 is already back on the reception table.

The lady took back the $1,000 notes and left the motel as she couldn’t find the room she likes.

While it seems that nobody produced anything, and nobody gained anything on that day, all the debt was cleared!

This is money at work.

Money is only as useful as it should be when it is being circulated.

Why should I give a damn about bitcoin ?

Money won’t create success, the freedom to make it will, ~ Nelson Mandela

If we focus narrowly on, say, the 2 or 3 percent savings that bitcoin offers on each credit-card transaction fee – a benefit that would typically go to merchants – it is hard to get excited about a “crytocurrency revolution”. But when we consider that the world economic output runs at $87 trillion a year, and think of how much of that is hived off by the same banks and financial toll-collectors that cryptocurrencies bypass, it’s possible to imagine many trillions of dollars in savings.

Each of us can stake a claim on those funds, indirectly via the employment and income opportunities that businesses might create with what they save on financial costs, or directly via the lower interest rates, bank fees, and transaction charges by our bank and credit-card accounts.

The day you started earning and spending money is the day you began repeatedly handling over slices of that money to these middlemen, often adding up to millions of dollars over a single person’s lifetime.

Crytocurrency promises to stop that outflow and put the money back in your pocket. This, in the most basic way, is bitcoin’s value proposition – the “Why should I care?” that some people was looking for.

Recommended Readings:

The Age of Cryptocurrency