I like that the ven's value will stay constant (a double cheese burger will cost the same now as in 10 years).
An issue I have with the dollar is that people (the fed) can print as much of it as they want, and don't have to tell anyone. There should be more openness with the Ven. The only way I can think of is it to make every transaction and account visible. That way people would know if something fishy was going on.
It seems that having it purchasable with dollars then would allow those same people to purchase as much ven as they want. I've come up with two solutions to this, neither one finished. Make the ven non-purchasable. Or, put a cap on the amount you can purchase.
Any input would be greatly appreciated.
Sep 26th, 2009
all economies come down to resources and the relationship between supply and demand for resources. ven just makes the trade of resources more efficient, and eliminates profit by allowing the transactions to go peer to peer. For people to trust Ven and use it, there has to be underlying value - that's why the Pavilions only accept Ven - you can always trade it in for a product in our store should you wish to stop trading in Ven...
Sep 26th, 2009
ven is supposed to be a sustainable economic systems alternative currency rather than an ad-on to the existing monetary system. therefor i believe the possibility of purchasing ven is totally against the whole idea of ven.
am i wrong?
Apr 27th, 2010
A basket of goods seems like a better idea than having Ven pegged to the dollar.
Apr 27th, 2010
Marosh - money from ven purchases goes to purchase in cash the goods and services that are sold in Ven. Ven's value comes from trades within the system.
re: purchase - we tried initially to use Ven with no exchange rate and as an complete alternative currency, but from our experience, people needed a benchmark for value to determine how much ven was worth. This benchmark value is the exchange rate. While its not a complete panacea, Ven does a lot to promote sustainability within the community, builds value for those trading it, and does not earn interest - all big improvements. If the value decreases relative to the markets over time, we will look at it, but that would only be for new purchases (essentially re-weighting the basket) to keep it roughly pegged in value. Just like keeping money in your pocket over time, the value may decrease if it stays stationary. This is the time cost of money, no matter the system it circulates in.
Jonas - we've actually just done this about a month ago - see http://hub.vg/venfloat - Ven value is now made up of a combination of currencies, carbon emission futures and commodities.
We are trying to make Ven valuable and useful and really appreciate any ideas or contributions you have. The theoretics aside, we are trying to create a simple system that lets people trade more efficiently and in a more sustainable, community driven way. My personal view is that after two years of this, evolving the system toward a better future is more reliable and impactful than ignoring or divorcing from the system in which we already operate.
Hope that helps. thanks guys!
Dec 29th, 2010