Why your coin is a fiat currency and not a mutual credit?

[demo]

[quote=“Inso, post:12, topic:2668, full:true”]

What do the experiments of LETS show ?

At the beginning, there are 0 units of time on every account. And then, when one works for another one, it’s magic : one has 2 hours, and the other one, -2 hours. Here, when one works 1h, it generates up to 50% new units of time in the economy. (2 hours on an account, -3 hours on another one, 1 hour on another one = 6 hours)

Now, what happens after a given time, let’s say some years ? Some people have a credit of 1000 hours, whereas some people gave up and stopped participating in the system while having a negative credit. [/quote]

In that case, whenever some people stop participating in the system, the one who has 1000 credit could lose his money (as many credits as he gained by the people who left). This is rational. If the one who owes dies, the creditor loses his money. This is called heritage disclaimer in the legal system. When the father dies, the children disclaim the heritage and the creditor loses his money. It happens in most legal systems worldwide.

@Inso

When a newcomer joins, he is at 0. He is stuck : he has no credit to spend, and no one needs more credit so he cannot work for current people. If he works 1h, he generates 0.0001% of the total unit of time circulating in the LETS economy.

Who said that? A newcomer is not at 0. He starts by having some credit limit, so he obviously can spend. He can spend as much money, as the credit limit allows. And this credit limit (which could be the same for everyone) can be considered as a dividend to the newcomers. This may be one mutual credit system variation. Please focus on what the mutual credit system is in its generality, and please understand that there can be multiple variations. Do not consider LETS (or the current Bank system) as the only possible mutual credit system (or debt money), in order to argue in favor of TRM. In the universe of mutual credit there are a lot of stars (similar to what is happening in the fiat money of course). TRM is a fiat money. Shall I argue against TRM because euro is also a fiat money? This is what you are doing.

@Inso

@demo , once again, that’s why we are stuck in our talks with you. You are stubborn not to read the RTM, and thus we talk but we have to explain again and again the point of the RTM, and thus the point of Duniter.

Au contraire. You are stubborn not to listen of what the others are saying to you, and you are stuck in the TRM like if it is a Bible.

@Inso

Then, after reading it, if you don’t agree with time symetry, , please let us work peacefully on our space-time symmetric currency system without annoying us anymore.

I think a mutual credit system can be designed as time-space symmetric.