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Java Specification Request on Community Currencies

bernfast writes "I've submitted a Java Specification Request on complementary currencies to the Java Community Process. This specification will allow to implement arbitrary units of exchange as Java currencies. Examples are timedollars and other community currencies. This JSR is still in need of an expert group and will probably not receive too much industry suppport, so any help from the open source community is welcome."

112 comments

  1. Why by cbrocious · · Score: 5, Interesting

    Why is this being made a java-specific thing? I would much rather see this generalized. Making it language-specific limits its use, especially in the industry... as much as most of us hate MS, we have to admit that being able to use something in C# as well as other languages is a big selling point.

    --
    Disconnect and self-destruct, one bullet at a time.
    1. Re:Why by Anonymous Coward · · Score: 0

      Yes, but does it run Linux?

    2. Re:Why by saden1 · · Score: 1

      Yes, on Mono!

      --

      -----
      One is born into aristocracy, but mediocrity can only be achieved through hard work.
    3. Re:Why by Anonymous+Writer · · Score: 1, Interesting

      Why is this being made a java-specific thing? I would much rather see this generalized.

      Couldn't this be implemented in XML? Except for the encryption, that is.

    4. Re:Why by attonitus · · Score: 5, Interesting
      By all means develop this kind of stuff as a stand alone library (although, as the previous poster suggested, it should be based on a language independent standard to be of any real use) but putting it in the Java spec is like mandating that every car in North America should come with a spare set of snow tyres.

      Snow tyres are very useful if you live in Quebec, but an unnecessary pain in the arse to have to store if you never leave Florida. In general, Quebecers are pretty good at heading down to Canadian Tyre when the white stuff starts settling in for the winter. Java developers can similarly be expected to know what they need in their classpaths.

    5. Re:Why by Gentlewhisper · · Score: 2, Insightful

      I think that's because the request is submitted to the java communities responsible for java specifications?

      If java would do it, it will probably become adapted by other languages too.

    6. Re:Why by Theatetus · · Score: 1

      What's stopping you from encrypting XML?

      --
      All's true that is mistrusted
    7. Re:Why by Tim+C · · Score: 1

      Nothing of course, but I suspect that he meant that you couldn't implement the encryption using xml, not that you couldn't encrypt the xml.

    8. Re:Why by RPoet · · Score: 2, Informative

      If developed for Java, you could easily use it from C# with IKVM.

      --
      "Oppression and harassment is a small price to pay to live in the land of the free." -- Montgomery Burns.
    9. Re:Why by Speare · · Score: 1
      Snow tyres are very useful if you live in Quebec, but an unnecessary pain in the arse to have to store if you never leave Florida.

      Not to mention, you won't find any replacement 'tyres' of any kind in Florida. They might look at you funny, then try to substitute with some other kind of part, like a 'tire.'

      --
      [ .sig file not found ]
    10. Re:Why by attonitus · · Score: 1

      I learned to spell in Britain. Hence "arse" aswell.

    11. Re:Why by bernfast · · Score: 1
      It's difficult to generalize this because the part you would like to see generalized is left as an implementation detail. The JSR will concentrate on offering a core specification that will aid in the implementation of arbitrary protocols, XML or not, and arbitrary complementary currency schemes. One of the major modifications to the Java language will hopefully enter the core language standard:

      The class java.util.Currency will have to be extended to support non-ISO currencies. This is strictly Java specific and cannot be platform independent.

      Providing a platform independent XML protocol for the implementation of a specific subset of complementary currency design choices is another good idea (and I might give it a try) but it's not within the scope of this proposal.

    12. Re:Why by Anonymous+Writer · · Score: 1

      I was just thinking of whatever part of the project can be done in XML shoud, so you don't end up isolating yourself to one proprietary language, especially if the project is released under the GPL. Others could re-write it in other programming languages and have it all seamlessly integrate with one another. using XML as the medium of communication.

      Another commenter recommended the readings of Bernard Lietaer, who helped implement the Euro. He proposes a currency called Terra, that is supposed to be immune to the effects of inflation.

      Since you were the submitter, I thought I might pass this by you. I've been wondering about form of currency. Normal currency gives you the impression money is like mass and can only get bigger and bigger, because it appears to use units of measurements, like physics. But currency is actually a percentage of the overall amount in circulation. It's a piece of a pie. The larger your piece is, the smaller someone else's is. What about a form of currency that is an actual percentage value? Either the percentage of the entire currency in circulation, or a percentage of the amount a person would have if the currency were divided equally among people.

      I'll use the latter example. Say for example, a person would have 100%. That means if he goes over 100%, he knows that someone is getting less. It brings a bit of psychology into the issue. Compared to normal currency, this would have an effect of trying not to be too greedy, hopefully, when it is apparent to the individual that they are depriving others when they go over 100%. I just wonder what kind of psychological effect this would have. I feel that the current representatioin of money seems to bring about a psychological response akin to Jane Goodall's chimps fighting over a pile of Bananas in National Geographic's Among the Wild Chimpanzees.

    13. Re:Why by malachid69 · · Score: 1

      The JSR did mention JXTA which does not require Java to communicate. If the JSR were implemented via JXTA, then any language can participate by talking XML over the socket.

      --
      http://www.google.com/profiles/malachid
  2. is it just me by dollargonzo · · Score: 4, Interesting

    or does anyone else find it funny that a slashdot comment is linked to in a JSR?

    --
    BSD is for people who love UNIX. Linux is for those who hate Microsoft.
    1. Re:is it just me by Anonymous Coward · · Score: 0

      Its just you

    2. Re:is it just me by Anonymous Coward · · Score: 0

      I honestly don't get it at all -- why is that remotely funny? Because slashbots hate Java? Yeah, that's really LOLROTFLYOMAMA material.

      Most slashdot stories about java either point to JSRs or blogs about JSRs.

    3. Re:is it just me by uits · · Score: 1

      If you bothered to: a) Read the article or b) Read his comment you'd realize he he said the JSR ITSELF linked to a slashdot comment, under its example applications heading.

    4. Re:is it just me by DAldredge · · Score: 3, Funny

      And that is a very good reason why this JSR should be nuked from orbit.

    5. Re:is it just me by Scarblac · · Score: 1

      or does anyone else find it funny that a slashdot comment is linked to in a JSR?

      Or that the author of that comment is the same person as the author of the JSR and of this Slashdot article.

      You'd think he could find a better place to put his example than a Slashdot comment.

      --
      I believe posters are recognized by their sig. So I made one.
  3. Why do we care? by brw215 · · Score: 3, Insightful

    No offense, but why is this interesting. A JSR being submitted is no big deal and this is not exactly earth shattering stuff.

    1. Re:Why do we care? by DAldredge · · Score: 1

      Because it make everyone the same. See with timedollars everyone is equal. Doesn't matter if you spent 100,000 USD to become a doctor your time is worth no more than the fat ass who does next to nothing.

      At least that is what it looks like to me after a quick glance at their website.

    2. Re:Why do we care? by cerberusss · · Score: 1

      Can we please skip these sort of comments? I read one out of every ten stories. Do you see me complaining in the other nine? And why the fsck is this modded up? What is 'insightful' about complaining?

      --
      8 of 13 people found this answer helpful. Did you?
    3. Re:Why do we care? by angel'o'sphere · · Score: 1

      Technicaly thats wrong.
      The currency unit is called "time dollars", as a symbolic name that you are trading in time.
      However you are free to ofer your service time for any amoount of time dollars.
      So a high skilled doctor probably may charge $TD 100 for one hour and a gardener probably charges $ TD 10 per hour.

      Regarding the JSR, I do not understand why it is not enough to extend java.util.Currency to allow non ISO currencies ... the JSR itself is not specific on that and I asume that will be the reson why it will get rejected.

      angel'o'sphere

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
  4. Exchange rates? by kinrowan · · Score: 5, Funny

    Who will set the exchange rates for those community currencies that aren't tied to a measure of time or to the US dollar?

    1. Re:Exchange rates? by Anonvmous+Coward · · Score: 1

      "Who will set the exchange rates for those community currencies that aren't tied to a measure of time or to the US dollar?"

      I selflessly volunteer.

    2. Re:Exchange rates? by Mr.+Slippery · · Score: 1
      Who will set the exchange rates for those community currencies that aren't tied to a measure of time or to the US dollar?

      Market forces, of course. "I'll trade you six Ithaca Hours for three timedollars". You can take it, leave it, or make a counteroffer.

      --
      Tom Swiss | the infamous tms | my blog
      You cannot wash away blood with blood
    3. Re:Exchange rates? by bernfast · · Score: 1
      There's a proposal for a basket of commodities to be used as the denomination. I think that's one of the best proposals I've heard in that area:

      http://www.futureofmoneysummit.com/terra-project.p hp

      The proposal was made by Bernd Lietaer, one of the architects of the Euro and a strong advocate for complementary currencies.

  5. Barter and alternate currencies by Kohath · · Score: 2, Funny

    I hope you guys know you're supposed to declare the value of barter and in-kind services as income and pay taxes on it.

    If these types of things get popular, the IRS will find you.

    1. Re:Barter and alternate currencies by Anonymous Coward · · Score: 0
      I hope you guys know you're supposed to declare the value of barter and in-kind services as income and pay taxes on it.

      Hypothetically: If I get paid a chicken, and tax is 25% will the IRS want a breast or leg quarter?

    2. Re:Barter and alternate currencies by Anonymous Coward · · Score: 0

      I'm willing to give you "me not punching you in the face" in exchange for "you going away". What's the fair market value of either of those? Hmm.

    3. Re:Barter and alternate currencies by Anonymous Coward · · Score: 2, Interesting

      Mostly true.

      If you have a currency that is bought and sold, in the US, it must be pegged against the US dollar, and it must be reported as income.

      However, if your currency is strictly tied to time (something like "1 fanastibuck = 10 minutes"), and you prohobit trading for money, then you do not have to pay taxes on it.

      (If I understand correctly.)

      Most serious groups doing this stuff know about the rules, and abide by them.

    4. Re:Barter and alternate currencies by Likes+Microsoft · · Score: 1

      A good example of RTFA, or at least follow a few more links before commenting. Time dollars are not taxable. See here for IRS rulings on the subject.

      --
      -- Who am I? How did I get here? My God, what have I done?!
    5. Re:Barter and alternate currencies by Moorlock · · Score: 1
      Here's a snippet from The Picket Line around this time last year that covers barter and alternative currencies and their tax implications:

      I touched on alternative currencies, a concept which is tangential to my experiment, in an earlier entry. If you're intrigued by that sort of thing, you'll probably be interested in this interview with Bernard Lietaer. He discusses several alternative or complementary currency systems in use worldwide. He also claims that something called the time-dollar that is being used in the U.S. has been ruled tax-free by the IRS, something that I would want to see documented before I'd believe it, since the feds aren't usually so kind to barter or mediated-barter arrangements.

      Well, thanks to google, the documentation is at hand. "Why the Taxman didn't come" explains the background of the ruling and its limitations, and a Time Dollar FAQ goes into more detail, but I wasn't able to find anything on the Internal Revenue Service website.

      --
      Quiquid latine dictum sit altum viditur
    6. Re:Barter and alternate currencies by angel'o'sphere · · Score: 1

      No, thats wrong.
      On most local currencies like time dollars and itaka hours and such you do NOT pay taxes, or you can pay the taxes in that currency. it heavyly depends on your local laws.
      angel'o'sphere

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    7. Re:Barter and alternate currencies by bernfast · · Score: 1

      Okay, here is all the documentation you want:

      The IRS has issued three local rulings that Time Dollars are tax exempt. They have given three reasons for this status.

      1. An hour is always an hour, regardless of what is offered
      2. They are backed only by a moral obligation and are not legally binding
      3. Their purpose is charitable.

      http://www.timedollar.org/td_irs_rulings.htm

  6. What ?is? this? by cybrthng · · Score: 2, Interesting

    Doesn't seem like a spec, a process or anything you would package or get certified. Just sounds like someones idea?

    How about you signup at http://www.sourceforge.net and launch your program there and use the available j2ee protocols to design your application?

    1. Re:What ?is? this? by taweili · · Score: 1

      DEM is the work of Bernhard Fastenrath, the poster.

  7. Re:In need of an "Expert Group"? by brw215 · · Score: 2, Informative

    I'm not quite sure what you mean by "And it would help if there was native Java support for the most popular computing platforms" There is of course the JRE runtime which runs on just about any platform, and there are compilers available if you want to complie all the way down to native.

  8. Re:In need of an "Expert Group"? by Anonymous Coward · · Score: 0, Informative

    Get your history straight. Java IS a standard. Sun sued M$ to try to force them to make their Java implementation follow the Java standard rather than containing M$-specific changes. When all was said and done, M$ threw a tantrum and removed Java rather than complying with the standard.

    Java IS available on all popular computing platforms -- including Windows, even if it not a crippled "native" M$ implementation.

  9. This is overly bureaucratic by Anonymous Coward · · Score: 1, Informative

    A useful, standardized tool can develope if you simply write the library/class/whatever that is needed, make it very good, and then everyone starts using it. Standardization processes work best when they just rubber-stamp what everyone is doing anyway. Submit the JSR or whatever about the time you have a bureaucratic boss or client who wants something standardized before they will let you use it.

  10. I bet you... by Anonymous Coward · · Score: 3, Funny

    I bet you 10 simolarians that this won't work.

    1. Re:I bet you... by Anonymous Coward · · Score: 0

      i wager 400 quatros on the newcomer

    2. Re:I bet you... by Anonymous Coward · · Score: 0

      We only accept quatloos here...

    3. Re:I bet you... by Anonymous Coward · · Score: 0

      How much is that in Libraries of Congress?

  11. Re:hello im new :) by feeeee · · Score: 0, Offtopic

    man i need to explain that that egg thing was part of an ad and yes *looks embarrassed*

  12. LETS by Anonymous+Writer · · Score: 4, Informative

    This sounds a lot like the Local Exchange Trading System, which has been around for a while. It allows communities to engage in economic activities without official currency if there is none available.

    1. Re:LETS by IamTheRealMike · · Score: 1

      Not sure why this is modded funny. Alternative currencies have been able to achieve quite astonishing things in the past, and there's a lot of evidence that they lead to a better society for all than regular currencies. See the works of Bernard Leitaer for more information (his books are fascinating).

    2. Re:LETS by Anonymous+Writer · · Score: 1

      Not sure why this is modded funny.

      I was just wondering that myself. Google corrected the spelling to "Bernard Lietaer" from "Bernard Leitaer", and Amazon.co.uk seems to yield different results compared to Amazon.com for some reason. It looks like he only has one book called "The Future of Money" on the topic. Some google results say he helped implement the Euro. Do you have any links with a more comprehensive list of his books?

    3. Re:LETS by IamTheRealMike · · Score: 1

      The Future of Money is one of his better known ones, there are others. I think one is called the secrets of money, or maybe it was the history of money. I forget. Something like that. It tells you in the future of money covering material.

  13. Re:hello im new :) by Anonymous Coward · · Score: 0

    you really are new aren't you?

  14. what is this? by Anonymous Coward · · Score: 1

    Okay, don't mean to sound like a dick, but what is this stuff and what does it have to do with Java?

    I'm a consultant and one hour of my time is worth a hell of a lot more than 1 dollar, at least to some people. What is all this?

    And again, what on EARTH does it have to do with java??

    I didn't know JSR's were so high-level. Should I submit a JSR for my favorite application then? Hey, I need to finish this bond trading app, maybe somebody will just add it all to java!

    No wonder java is so bloated!

    Somebody please give the executive summary of all this in pure economic and programming terms, leave out the fluff about "rebuilding inner cities" and "enhancing communities".

  15. Go Wite an App, Not a JSR by rimu+guy · · Score: 5, Insightful

    Why is the poster doing this as a JSR? They are requests for Java specifications. Things that go into the core of the Java platform.

    The problem domain for this proposed JSR is primarily in the business world, not the technical one. I can't see any one proposal getting sufficient backing from a wide enough user group. Certainly not enough for everyone to agree on a useful technical implementation of this.

    There are better ways to handle this...

    I suggest that the poster goes and sets up his own web service to do this (banks and investment firms offer such services already). And work out an open API.

    It's good you've found a problem that interests you. But please don't feel you need to go and clutter up my platform of choice to go solving it.

    --
    Java Hosting on Linux VPSs

    1. Re:Go Wite an App, Not a JSR by israfil_kamana · · Score: 1

      I can't access the site (darn airport wireless servers don't properly do domain lookups of simple sites...) for the JSR, but I believe that part of the problem domain IS useful in Core Java, that is the specification of amounts with a currency. The basic infrastructure is every bit as necessary in core as time/date or locale. Currency is a very common value type, as are the other two I've mentioned.

      Actual currency exchange systems are a more business oriented issue, but the ability to say new Currency("USD",30).add(new Currency("CAD",20)) is very useful in core. The core code needn't do the actual conversion - in fact Currency should probably NOT have that role - it should be a carrier of state that can be interpreted by an exchange engine, in my view.

      The actual resolution of the amount could be done with an interface, such as in the following.

      Currency usd = new Currency("USD",30);
      Currency cad = new Currency("CAD",20);
      Currency mixed = usd.add(cad);
      CurrencyExchange exch = new SomeCorporateExchangeServiceImplementation();
      Cur rency eu = mixed.convertTo("EU",exch); // recursively traverses the Currency objects at this point.

      CurrencyExchange is an interface that can be back-ended with any number of exchanges, including a dummy table for unit testing, networked or database driven exchanges, and the raw Currency objects will have very few guts, and are quite generic and reusable.

      The whole thing would take up maybe three or four classes/interfaces. I've written enough apps with currency in them to think that this would not be clutter, but a very useful element. It would also be a great place for various J2EE after-market components to provide the service through the CurrencyExchange interface.

      --
      i - This sig provided by /dev/random and an infinite number of monkeys at keyboards.
  16. dBarter by Baldrson · · Score: 5, Interesting
    You might want to look at Dan Brumleve's dBarter. It's a P2P barter system where anyone can "mint" promises from their own bank and exchange them between banks with hard (RSA) encryption. It won most promising new technology at the 1999 Hackers Conference in Santa Rosa. Things went rather haywire what with the dotcon crash and Dan took off back to the midwest for to find work with his family business and left it lying around.

    The only problem is, it is written in C so you may not like it. ;)

  17. These people don't understand... by DraconPern · · Score: 4, Insightful

    Argh.. people who tries to come up with a new 'independent monetary system' seems to not understand two things. 1) Time is money 2) The existing banking system.

    They are essentially trying to create a miniature banking system (within a community)by hoping people's time is worth zero. There is a reason why we now have bank notes, checks, credit cards, bankers, notaries, etc.

    1. Re:These people don't understand... by Anonymous Coward · · Score: 1, Insightful

      I'd respectfully suggest that you do some research before condemning the idea. Some of these people do understand a thing or two about economics.

    2. Re:These people don't understand... by Mr.+Slippery · · Score: 3, Insightful
      They are essentially trying to create a miniature banking system (within a community)

      Not trying - doing. Some of these systems have been working for over a decade.

      by hoping people's time is worth zero.

      Uh, no. Just the opposite, in fact, it's recognizing value that is currently undercounted.

      There is a reason why we now have bank notes, checks, credit cards, bankers, notaries, etc.

      Yes: because it suits the bankers, allowing them to parasitically accumulate wealth.

      --
      Tom Swiss | the infamous tms | my blog
      You cannot wash away blood with blood
    3. Re:These people don't understand... by dkf · · Score: 2, Interesting

      FWIW, many large organizations use fake monetary units in their accounting systems, often because the conversion rate to real currencies depends on factors that are not easy to control.

      For example, supposing you buy (for a fixed price) a share of the total compute time on a supercomputer. How many minutes of CPU time is that a month? Well, that really depends on how much unscheduled down-time there is (ideally none, but this is the Real World here) and you won't know how much that is until the end of the month, and hence you won't know (for reselling purposes) how much each of those minutes of CPU time actually cost you. The easiest way to do that is to charge CPU minutes in a fake currency and reconcile that to real money every so often. You could try monetarizing up front, but that's very tricky to get right and likely to end up with either your customers cross for overcharging or your management furious for undercharging...

      --
      "Little does he know, but there is no 'I' in 'Idiot'!"
    4. Re:These people don't understand... by angel'o'sphere · · Score: 1

      There is a reason why we now have bank notes, checks, credit cards, bankers, notaries, etc.

      Indeed there is a reason.
      And you know the reason?
      They are essentially trying to create a miniature banking system (within a community)by hoping people's time is worth zero. You have any backing for that. It sounds wrong in my eyes :D
      I suggest "The future of Money", and probaly also, but not that good, "Money of the future" as reading. The second one is my translation from german, probably the title is slightly different. The first title is right.
      Your view is far to simple :D
      angel'o'sphere

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    5. Re:These people don't understand... by laird · · Score: 1

      "Argh.. people who tries to come up with a new 'independent monetary system' seems to not understand two things. 1) Time is money 2) The existing banking system."

      There are many cases where you want to run an independent "monetary" system. For example, if you want to use "points" within a community to reward particular behaviors in terms that make sense for the community. So, for example, in one MMORPG called There that gives pointed to builders, awarded by other players based on how much they like what you've created. The points then let you create more in that world, or gain access to more cool stuff. So the points exist only within the virtual world, and are rewarded within that world. And, more traditionally, food manufactureres have printed "points" on their box tops so that buyers who collect enough points (and thus buy that company's food) are rewarded. So you could probably work out a real-world dollar value to these points, but there's no way that that these companies would accept it, because that would (1) devalue the points as a reward for creativity/buying the companies products since anyone could buy them with "mere money", and (2) would subject the company to all sorts of banking-related requirements that are a PITA.

  18. timedollars? by PaulBu · · Score: 1

    What is is backed by? Your and mine spare time?

    Is not it a kind of a socialist (and further left) response to the Liberty Dollars?

    Let's see, every time me and my wife spend a nice hour in bed we write a Time Dollar IOU to each other for services provided... HUH???

    Paul B.

    P.S. Yes, I did RTFA, but I guess even on /. (with as wide a range of strange ideas as we constantly deal with), one might want to provide a one-sentence intoduction to what he is talking about.

    1. Re:timedollars? by Mr.+Slippery · · Score: 1
      What is is backed by? Your and mine spare time?

      Depends on what you mean by "backed". Their value comes from the work you already performed, so their issuance is limited...in that respect, they're more "backed" than current U.S. currency.

      Is not it a kind of a socialist (and further left) response to the Liberty Dollars?

      No, not a "response" since local currencies like timedollars have been around long before the "Liberty Dollar". In fact the Liberty Dollar, so far as I can tell from their website, only goes back to 1998, whereas Itaca Hours have been around since 1991, Berkshares since 1993, and Timedollars since 1995.

      Are they socialist? Sure, if it's properly understood that socialism is an economic system based on the exchange of labor. (Whereas capitalism is based on the (necessarily state-backed) ownership of resources.) They're a great example of libertarian socialism in action.

      Let's see, every time me and my wife spend a nice hour in bed we write a Time Dollar IOU to each other for services provided... HUH???

      Timedollars are issued by an exchange. If you and your wife (and any other consenting adults you choose to include) form your own exchange and issue credit to each other based on sexual acts, hey, go for it. SexBucks! (And let's face it, a lot of relationships work this way under informal understanding...)

      --
      Tom Swiss | the infamous tms | my blog
      You cannot wash away blood with blood
    2. Re: Timedollars? by Alwin+Henseler · · Score: 1
      My initial thought too: what the hell is it? But reading about it, I realise I've come across some local initiatives like it, in the past. Rough description:

      In a normal job, you get paid normal currency for an agreed upon amount of work (like a number of $$/hour).

      With voluntary work, you do work, but don't get money in exchange. Rewards will be non-monetary, say having a satisfied feeling of having improved the world a little bit. For some programmers, writing Free software could be in this category.

      I would describe Timedollars as something in between. You do work, don't get paid real currency, but you do get rewarded in a defined manner. At a later time, that reward can be paid back by work that someone else does for you.

      It's similar to when you help someone move furniture, and he/she pays you back later by inviting you to a barbeque. Two important differences here:

      • A 'unit' in which the amount of your work is measured, is clearly defined.
      • It's not an exchange between 2 individuals, but work and rewards are exchanged between larger groups of people. For that to work, you need some organisation to help negotiate 'jobs', and bookkeeping of earned credits.
    3. Re:timedollars? by angel'o'sphere · · Score: 1


      Let's see, every time me and my wife spend a nice hour in bed we write a Time Dollar IOU to each other for services provided... HUH???

      Yes. Indeed.
      You just need to find one who is accepting yoour IO in bed currency.
      Your firtst line: What is is backed by? makes pretty clear tha you have no clue how currencies work in our time :D no offence. I had neither 4 monthes ago. Bottom line: only in third world countries backed currencies do exist today.
      Our currencies are not backed.

      angel'o'sphere

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    4. Re:timedollars? by PaulBu · · Score: 1

      Hey, Angel'O'Sphere, do not take my comments at the face value, OK? (Why /. does not have 'Sarcastic' moderation, after all? ;-) ) ... makes pretty clear tha you have no clue how currencies work in our time :D no offence.

      Well, I guess it was more than compensated by the following gold-backed "currency" link, was not it?

      Bottom line: only in third world countries backed currencies do exist today.

      The good thing about a currency backed by some universally-accepted commodity (gold most common) is that it does not really matter where did you bring it from, some third world country, UK, Russia or the good ol' US of A.

      Paul B.

      P.S. Care to name a third-world country with their currency backed by any reasonable commodity?

      P.P.S. And, what did happen 4 month ago? ;-)

      P.P.P.S. About the IO in bed currency, the Wife actually plays the role of the Feds/Central Bank/Govt, being in real life able to tell the carriers of her IOU notes with whom and for what they can exchange them for. Yes, it was meant to be a sarcastic example, OK? ;-)

    5. Re:timedollars? by angel'o'sphere · · Score: 1

      He he, yes a sarcastic moderation is missing.

      But, your example is not really understandable, for me at least (I mean your PPPS).

      4 Month ago I read quite good book about currencies and money. I'm working on a MMOG, and we like to introduce player defined currencies ... because most MMOG run into strange hyperinflation problems. So we started to hunt for good books about currecncies, "The future of money" is one.

      (Similar to) Backed money in 3rd world countries is e.g. stone money, sea shell money, and tortoise shell money.

      For a commodity backed currency I have to google.

      USA and other 1st and second world countries usually don't have a gold backed currency anymore (since about 1920). And because of that reason the Feds don guarranty anything, except that if you are running business under the law under which money was issued you ahve to accept that money as currency.

      E.G. you can not sell breakfast in New York and not accept $US as payment. Neither you can sell breakfast in Berlin and not accept Euros.

      But technically the money is nevertheless not backed.

      angel'o'sphere

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
  19. Sorry, replying to myself... by PaulBu · · Score: 1

    After initial enthusiasm by foundations, funding for Time Dollar Exchanges dried up in the mid 1990's, and a period of struggle to keep afloat followed.

    Anyone finds this passage from the History section of the timedollars site a little bit, hmm, _strange_? Were not the proponents supposed to be paid in TIME dollars? ;-)

    Paul B.

  20. GREAT POINT, MOD UP! by PaulBu · · Score: 1

    ... but then, again, #1 reason in your .signature's link directly contradicts the link in my .signature!

    Which only proves that people sometimes can be reasoned with! ;-)

    Paul B.

  21. C# just not used very much by Anonymous Coward · · Score: 0

    C# has a lot of marketing dollars behind it but it just isn't getting used very much. Go look on any jobs site and compare the number of C# jobs vs. Java jobs. Or check tiobe to see how popular C# is on the web. Even Mono hasn't managed to make C# very popular on the open source front. Check out freshmeat and see how many projects are using C#. This lack of popularity can no longer be attributed to the newness of the language, it has been around for over 4 years now. I suspect MS will be coming out with something to replace it soon.

    1. Re:C# just not used very much by Anonymous Coward · · Score: 0

      C# is better than Java for many many projects. Zealots don't like it, however.

      Popular languages aren't always good, and good languages aren't always popular (Lisp)

  22. Re:In need of an "Expert Group"? by Anonymous Coward · · Score: 0

    Instead Sun choose to sue Microsoft to get them to remove Java from their OS.
    Pure fud. What? You can't run Java on Windows? What bullshit. What Sun sued MS over was the buggy, non-Java version of the VM they were passing off as Java, in hopes of giving the language a bad name. Looks like they at least foole you.

  23. Taken seriously? by Anonymous Coward · · Score: 0

    Have you LOOKED at what language pretty much every major corporation (but one) is asking for from their developers?

    1. Re:Taken seriously? by callipygian-showsyst · · Score: 1
      Well, if you mean "web development" than maybe you have a point.

      But for desktop applications development, or scientific systems development, C# has more traction than J*va.

    2. Re:Taken seriously? by angel'o'sphere · · Score: 1

      LOL.

      For any C# app selling right now I show you 100 Java apps on the desktoop selling right now.

      And what do you mean with traction, friction ... oops, sorry, that was lame.

      angel'o'sphere

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
  24. Re:In need of an "Expert Group"? by Anonymous Coward · · Score: 0

    Check Sun's website. Java(TM) runs on 5 (five) [1] platforms. There are a few ports from third parties that add about 5 more platforms.

    NetBSD, for example, runs on 40 platforms. It's written in C, though. gcc runs on a few hundred of platforms, I guess. It's written in C, though.

    Programs that run almost anywhere exist. They are written in C, though.

    [1] ia32-linux (selected distributions only), ia32-win32, ia32-winnt, sparc-solaris, ia32-solaris.

  25. Re:In need of an "Expert Group"? by Decaff · · Score: 2, Informative

    What Java really needs to be taken seriously is a standard!

    Who is not taking Java seriously? It's by far the most in-demand language in the IT industry.

    And it would help if there was native Java support for the most popular computing platforms.

    Why? The point of java is that it is not native. Its up to the VM implementor to handle the native code translation.

    Instead Sun choose to sue Microsoft to get them to remove Java from their OS.

    No. Sun sued Microsoft to get them to either remove or fix Microsoft's Java, which deliberately omitted parts of standard Java (such as RMI) and by default encouraged developers to produce Windows-only applications.

    Decent Java is widespread on Windows as companies like Dell pre-install Sun's JRE.

  26. money can be anything, but..... by zogger · · Score: 1

    ....Liberty Dollars are in much more widespread use than any of the time based currencies I saw in the list and are backed by precious metals, a globally recognized form of money and exchange that is *quite spiffy* in it's longevity and robustness. I remember one community based currency from the 70s called the "constant", but even that used minted silver coin as a local currency and it's the genesis of where I got my Top 100 commodities based currency idea from.

    I agree with you, I simply don't see this need to specifically code using Java to come up with some currency. Money as an historical successful currency has traditionally been based on already produced tangible wealth,so making it (these time based currencies) based on future promises of work (IOU's where no work has been performed yet, and might not be) is a lot closer to the flawed and highly exploitative fiat artifical currency system we use now, which is bogus if you ask me.

  27. interesting monetary reform site by vinsci · · Score: 2, Interesting
    A number of related books and articles, many with their full text online are available at: http://geldreform.de/ in several languages.

    See for example Margrit Kennedy's 140-page book Interest and Inflation free Money - you'll never look at money the same way again after reading the first chapter.

    --

    Trusted Computing FAQ | Free Dawit Isaak!
  28. Correction... by israfil_kamana · · Score: 1

    Sorry, in the above example code, please substitute the class name "Currency" with "CurrencyValue" or something like it. I didn't mean java.util.Currency as it currently stands. Possibly "Money" or "MonetaryValue" could also be reasonable names for such a value holder object.

    --
    i - This sig provided by /dev/random and an infinite number of monkeys at keyboards.
  29. Translation by dark404 · · Score: 2

    I have a niche idea that doesn't really belong in the core API, but maybe if I post it on slashdot people will care!

  30. Summary by 0x0d0a · · Score: 2, Insightful

    Awesome idea, could provide significant benefits ... but unfortunately written in Java.

    This sort of thing would be incredibly interesting if it were done in C or something else least-common-denominator that can be used in any piece of software.

  31. Already tried... this is an instance of JSR 108 by Anonymous Coward · · Score: 2, Interesting

    There is a more general proposal alreay out there:

    http://jcp.org/en/jsr/detail?id=108

    108 Units Specification

    The ... units package supports programatic unit handling via an abstract Unit class, run-time checking and conversion, unit arithmetic, unit parsing and formatting, and a units database.

    1. Re:Already tried... this is an instance of JSR 108 by bernfast · · Score: 1

      That might have been a good hint but you didn't notice the status of the JSR: Withdrawn. Thank you anyway!

  32. I've submitted a JSR on Peace in the Middle East by Anonymous Coward · · Score: 0

    and I'm working on a JSR submission to tackle World Hunger.

  33. It's a backup (economy) system. by bernfast · · Score: 1
    That's actually my initial reference book which resulted in me writing the JSR we're discussing here.

    Bernard Lietaer and many other experts on the topic have a very firm understanding of the inherent errors of our modern worldwide economy and have repeatedly pointed out that the system is unstable.

    As a computer programmer my reply to inherent instability I'm unable to fix on short notice is to keep a backup system available and prepare for failover.

    Of course this was a simplification, it's not really a failover, it's more like load ballancing: You keep alternate economies running and leave it to the users to select their system of choice. If the big one fails we can run on the spare tire for a while, while we design a better primary economy, or until we decide the spare tire is actually the better choice.

    I think nobody here is going to reject the idea to keep backup systems in case of failure?

  34. Personal Java has been replaced with J2ME by Spiritwalker · · Score: 1

    Personal Java has reached end of life. It would be wise to change the references to J2ME CDC/Foundation to gain any credibility with this JSR.

  35. Platform independence by bernfast · · Score: 1

    The JSR is a specification for an addition and a modification to the Java language. Of course you can add a java library to the system which replaces java.util.Currency but that would certainly cause a lot of problems. I much prefer to let Sun know we need a more complex 'Currency' class with CurrencyProviders, CurrencyRegistries and CurrencyDescriptions and have that system as a part of the core language, or, at least, the required modification of java.util.Currency and the rest of it as part of a JSR package (e.g.: javax.trade.cc)

  36. You get what you give. by bernfast · · Score: 1

    It is only fair for slashdot to link my story if I link to their site, isn't it?

  37. The reference implementation might use XML. by bernfast · · Score: 1
    The specification will just be a set of Java classes to provide a convenient framework for the implementation of complementary currencies in Java.

    The reference implementation to that specification might use XML, web services, encrypted XML and even try to use all this in a cross-platform kind of way, which even seems impossible to avoid, once XML is in the game.

    If you want to see a reference implementation (RI) in other languages than Java I'll be glad to help in any way possible but I'm very much Java-centric these days. You never forget to program in C, at least as a Java programmer you don't, but my C++ is just C with classes in it and I don't use any other programming language anymore.

    If the web service interface of the RI can be used to automatically generate stubs for other languages I'll be happy to provide these.

    1. Re:The reference implementation might use XML. by Anonymous+Writer · · Score: 1

      If you want to see a reference implementation (RI) in other languages than Java I'll be glad to help in any way possible but I'm very much Java-centric these days.

      I haven't been programming for a while, so I'm not the right person to approach. Just give it an open source license and let others on the internet handle porting it to other programming languages.

  38. java.util.Currency is reason enough. by bernfast · · Score: 1

    The sole modification of java.util.Currency, if it is what the expert group decides on, may be a perfectly reasonable outcome of this JSR. Small is beautiful. If there's no need to change more than a single class then don't, I can agree with that.

  39. The RI will aim to be GCJ compatible. by bernfast · · Score: 1

    Of course, the reference implementation (RI) will aim to be compatible with GCC/GCJ.

  40. The timedollar is officially tax exempt. by bernfast · · Score: 1
    The IRS has issued three local rulings that Time Dollars are tax exempt. They have given three reasons for this status.

    1. An hour is always an hour, regardless of what is offered
    2. They are backed only by a moral obligation and are not legally binding
    3. Their purpose is charitable.

    http://www.timedollar.org/td_irs_rulings.htm

  41. A proposal to specify alternate units of exchange. by bernfast · · Score: 1

    This is a proposal to specify alternate units of exchange as part of the Java language and to use the class java.util.Currency as the unit of exchange, as one might expect to do. A complementary currency could be any unit of exchange you can think of, not necessarily an hour. Another unit of exchange would be, for example, the terra: A currency based on a basket of commodities. Yet another currency could be e-Gold or any of the local currencies circulated in the USA today: http://www.smallisbeautiful.org/cur_grps.html

  42. License. by bernfast · · Score: 1
    The intended licensing scheme for the reference implementation is a dual licensing under SPL and LGPL.

    The web service descriptions will probably be sufficient to reimplement protocols by just running stub generators.

  43. The 100% economy by bernfast · · Score: 1
    The specification will be tightly coupled to the Java language, the reference implementation will probably use a generated web services interface in XML-RPC or SOAP and be portable to other lanuages.

    I like your idea of a 100% economy. The idea to know you have 100% of your share is nice but I can't imagine a way to calculate the buying power in a %-economy. How many %% is a bag of potatoes? Is that true of all bags of the same weight? Are all potatoes equal?

    1. Re:The 100% economy by Anonymous+Writer · · Score: 1

      I guess it could already be implemented. The 100% value equivalent in normal currency would be the total units of currency in circulation divided by the total population. So it actually doesn't need to be the currency itself, but simply a useful graph of one's net worth, say when someone is checking their bank account balance or something. It would be an interesting way of keeping things in perspective.

      Are all potatoes equal?

      Yes, but some potatoes are more equal than others :P

  44. Religious convictions and sound ethical ideas. by bernfast · · Score: 1
    These are quite sound ethical ideas and directions but unfortunaly most of us are far from recognizing the need for ethical behaviour today. Even if you don't agree with me it has never been a good idea to call religious convictions 'crazy shit'.

    Religion in a nutshell is: god is trying to teach us our own set of ethics. We've to invent them as we go along and separate the good from the bad, just as Buddha has tought his pupils.

    We're bad pupils because even if we come up with some ethics we ignore them and forget about them only a generation later. That's really poor.

    One of the more important subtopic of ethics today would be environmental ethics.