Would having a LWN supporting community currency help ?
Would having a LWN supporting community currency help ?
Posted Oct 4, 2002 10:30 UTC (Fri) by copsewood (subscriber, #199)Parent article: The status of the subscription experiment
Clearly the current effort to get LWN onto a sustainable financial
basis needs to continue, but as a thought experiment,
lets suppose the subsciption experiment raises half to 2/3rds what's needed
to do what the current editorial team would like to do with LWN.
I suspect the question then will not be whether LWN immediately closes,
but how additional sources of income (e.g. advertising, merchandise,
sponsorship etc.) can be expanded in order to make the quality of the effort suitably rewarding.
LWN is certainly worth 5 USDollars a month to me, even if this involves paying in a foreign currency, and so I have subscribed. But some facts
surrounding this subscription "experiment" are resonating with many things the community-currencies movement has been saying for years. Look at all the problems LWN has had with delayed payments/charges through Visa/MC/Amex merchant accounts and currency conversions. We also have many
third world readers for whom LWN has value, but the currency required to keep LWN going based in the US just isn't accessible in practice to these
readers. That doesn't mean there aren't ways those who prefer not to convert local stuff into dollars can contribute.
Part of the problem is the incompatibility between open-source Internet culture and closed-source monopoly kinds of money. The old-conventional stuff doesn't seem to be working very well in this context. Here we have a community of readers who are likely to have a fair bit of interest in each others' goods and services within a technologically adept marketplace, but a shortage of tickets to buy and sell with.
Community currencies start with an assertion, let's say by
Joe, using a database, that Pete or Mary has delivered $10 worth
on a particular date. So Joe's account goes down by 10 and Pete's
or Mary's goes up by 10. Just as banks create money out of nothing
when you borrow it into existence, CC money is credited into
existence with balances starting at zero and adding up to zero.
A CC centred around LWN might pay 10% of all transactions to
keep LWN going. If there are enough goods and services available
to meet LWN contributing staff and publishing needs, LWN might also
choose to accept some subscriptions paid using the community money
from 3rd world countries where there is a higher proportion of readers to
subscribers. CC users who have stuff to sell through use
of the CC advertise through a bulletin board or whatever.
This would give the editorial team access to our goods and services
traded by this means, in addition to the subsciption dollars which they need to pay bills and taxes wherever they want to live.
