# New referencial: relative to the UD and to the time

I think I like the UD representation of the money the most. Proces must be fixed using the universal dividend.

But there is still something that can vary from one money to the other, all sharing the universal dividend. The dividend frequency. If I want to sell something, selling it 0.1UD does not mean the same thing if the dividend is per day or per month.

Per day, I would sell something that took me about a tenth of my day to create. Per month, I would sell something that took me roughly 3 days. Why not display the money in relative form per dividend per day (or month/year). This way, I could express things in a common referential.

This looks like a referential that @kimamila talked about for LETS (french : SEL). It’s an interesting one. Can you remember us your idea @kimamila ?

De manière générale, tu peux exprimer le taux `Tm` d’une monnaie de période `p` (c’est à dire qui aurai `p` dividendes universels chaque année) à un taux `Ta` qui serait le taux équivalent annuel avec la fonction :

``````Ta = Tm^p
``````

Si tu n’as pas `p` mais `dt` qui serait l’intervalle de temps (en secondes) entre chaque DU, tu as alors

``````p = 1 / (dt / (365.25*3600*24))
``````

A.N pour un DU versé tous les mois (2,629,800 secondes) de `0.007376575 %` :

``````p = 1 / (2629800 / (365.25*3600*24))
p = 1 / 0.08333333
p = 12

Ta = (1 + 0.007376575)^12
Ta = 1.09999
``````

On a donc là un taux annuel `Ta` de `10%`.

edit: on peut transposer le raisonnement pour obtenir le taux selon n’importe quelle fréquence d’ailleurs.

Yes, this is call a “time bank”, or a" time mutual credit".
This referential is quite easy to compute. It will be integrate in the next uCoinApp release (coming soon).

You can choose any time unit (in my case, i use hour), and convert any transaction amount (at time “t”) into this time unit, using the UD(t) (or the last block’s UD) and the UD time period.

Examples :

• if UD(t1) = 100 units
• and UD period = 30 days
=> a transaction of 1 UD or 100 unit = 30 days
=> a transaction of 1 unit = 30 days * 24h / 100 = 7h 12min

How to compute the total time credit of an account ?

• total time credit = sum of all trancactions converted in time unit.
• Received UD must not be added, but only payment transactions.
=> A account without any transaction will have a credit = 0
=> A credit could be negative (like in any time banks), but minimum value depends on received UD.
We could say : the user will increase his capacity of debt (a debt without interest).

Question :
I still have one question for this referential :

• Should we compute transaction time value at the exact transaction time (t1), or could we use last block’s UD (t1 - Xsec) ?