Lifehours (Needs) vs. barter-currency (Wants, Crime, Greed, Lies and Ponzi Schemes)

Conclusions based on Currency: Symbols or Substance, a 170-page book written in 1981:

  1. Current cryptocurrencies are exclusively counter-productive, wasteful, on-line gambling enterprises used mostly for illicit, nefarious transactions of illegal goods and services.
    1. Bitcoin (one of over 4000) was created an algorithm with a fixed number of variations.
    2. "Mining" cryptocurrencies looks for a needle in a haystack with the needle and haystack constantly changing.
      1. Per Google search: From 3 to 900 bitcoins are mined daily.
      2. Each bitcoin transaction consumes 1,173 kilowatt hours of electricity. Bitcoin networks consumes “at least 2.55 gigawatts of electricity, and potentially 7.67 gigawatts in the future.”
      3. Bitcoin mining consumes 0.5% of all global electricity, 7 times Google's total global usage
    3. Crypto's "Block-chaining" is not new ... existed before computers, e.g., assembling Christmas toys from coded parts scattered in a box. Bank statements use block-chaining for efficient storage. The Internet uses  block chained "packets" that are shotgunned onto the web. Headers and footers rejoin packets like iron filing thrown at a magnet. Block-chaining is a term to bamboozle greedy naive lemmings.
    4. Cryptocurrencies: Climate cancers organized by climate criminals for climate lemmings. China banned them.
  2. History of out-of-thin-air currencies:
    1. Cryptocurrencies echo central banks' keystroke currencies for the purported purpose of commercial activity.
    2. The Federal Reserve System came into existence (1913) to provide liquidity because gold and silver were not being mined sufficiently to lubricate daily Main Street activities. As was, the economy was being restricted akin to people suddenly hoarding money (which is what the Hoover administration did financially, an action that rapidly worsened the 1930s Depression.)
    3. An analogy explains the need to keep currencies constant and current in their "worktime" value. Currency is the economic blood of an economy. Too much or too little causes economic high or low blood presssure (inflation or deflation) to the body politic. Greed causes economic blood poisoning.
    4. Because the Fed has consistently over-printed Federal Reserve Notes relative to economic growth, the dollar has suffered consistent depreciation/inflation losing 96% of its buying power since 1913.
    5. More important than cheaping the buying power of funny numbers on funny paper, inflation cheapens the worktime behind the acquisition of the currency. If you save 100 hours of worktime and inflation erodes 50% of the buying power, you have had your worktime cheapened by 50%. An indication of how "adled minds are the wasteshops of economists" is economists use of unemployment to fight inflation. A 10% inflation rate cheapens 10% of your past worktime while unemployment cheapens 100% of your worktime. (Inflation's semantic cousins conveys cheapness: flattery and flatulence.)
  3. Lifehours: Timism unification of substance with symbols and wealth with worth
    1. Lifehours come into existence not by burdening Mother Nature with environmental damaging mining metals nor by burdening society with CO2 sinning on-line gambling.
    2. Lifehours originate as people participate in a global, on-line problem-solving process: Brainbees.
    3. Timism recognizes that the cost of humanity to Mother Nature--measured in CO2 generated--is the cost of living for needs versus the cost of lying for wants. Every dollar for unneeded wants is a nail in the coffin of human survival on Planet Earth
    4. Lifehours can only purchase needs, not wants. Timism has several apps for this purpose.
    5. Timism supporters can trade lifehours for needs, not wants, e.g., rent, food and healthcare uses. Eventually, lifehours will be good for taxes and some loan repayments.
    6. Lifehours: Timism Shares, a Needs-Only barter-currency

      When millions have billions in lifehours then we will have a functional, productive stable currency.