What are Permacredits?
Permacredits are the 1st commodity backed crypto currency. This is bitcoin 2.0 in action. Permacredits or "credits" are created as a way for the world to engage in and actively support the world of Permaculture and Eco Developments while enjoying profits from that world. This is permaculture applied to business. This is paying it forward into an eco system of mutually supportive systems that pays you back for your involvement.
Why would i want one?
Dunno. You tell me. Some people want them to use on our network to pay for a house, rent, retreats and more. Some people want them because they want to support the world of Permaculture and make the world greener and healthier (Permaculture builds soil, even in deserts). Some people want to invest in their potential as a deflationary asset that will be worth more than dollars. Some people want them to trade on the open markets for other crypto currency. Some people want the profit sharing our network provides, and they believe in the profitability of Eco Developments.
What am i really buying?
You are buying a membership. You are buying a place in the world of permaculture and Eco Developments.
You will gain discounted access to a world-wide network of awesome places to live in and visit, learn from and benefit from, and network in and heal in. We happen to give you a membership credit denoting your level of involvement and you can do with it as you see fit.
Where can i use my credits?
Any of our growing network of eco developments, institutions, retreat centers, and festivals.
This will have a link to our network.
Do i need a special wallet for my permacreds?
Yes and no. Since this is bitcoin 2.0 in action and rides on Bitcoin's blockchain you can store your CREDITS in any bitcoin wallet. This is advantageous for things like text message bitcoin wallets. However, there are some caveats with that such as, you will not receive the full functionality in a wallet not designed to specifically handle CREDITS. This being the case we advise you store and use your CREDITS in the Permacredits wallet where their full functionality is utilized, while taking advantage of the ease fo some bitcoin wallet applications when needed.
What is cryptocurrency?
A cryptocurrency is an electronic form of currency that can be used to buy and sell services, send and receive money, and to store value. A number of cryptocurrencies, including Bitcoin, have recently gained popularity given their low fees and lack of a connection to large banking or government institutions.
Crypto currency gets its name because the "currency" as its called is simply a predetermined string of numbers that repeat every so often in the LOOOOOOONG string of numbers that make up the open ledger called the Blockchain.
That LONG string of numbers is divided every so often into "blocks" of random numbers encased in a cryptography. Cryptography is the word used to describe secret codes...remember decoder rings? Thats a basic cryptography.
People use specialized computer hardware and software that sets about decrypting the very difficult algorithmic code surrounding a "Block." When the code (which is being worked on by MANY hundreds of computers around the planet simultaneously) is decrypted it opens the block and "crypto currency" is discovered, verified, and claimed by the "mining pools" working on it.
"Mining pools" are groups of miners providing their "hashing power" or their computers processing power in unison working on a specific cryptographic algorithm encasing a block.
It isnt exactly the birds and bees, but it is permaculture in action in the digital world. Since Permaculture is essentially a large system of smaller interdependent mutually beneficial systems all working in coherence you can see how the entire crypto currency world is simply a large system made up of smaller mutually beneficial interdependent systems. You have miners, hardware manufacturers, exchanges, vendors, investors, enthusiasts, developers, and more. They are simply like the water catchment, swails, ruminants, soil fixers, cabbage, perennials, etc in our permaculture world.
How do I get Permacredits?
We will have open windows for purchasing CREDITS directly from Permcaredits.com. This will happen twice a year initially, just before each Solstice. The capital raised, which will be used to fund Permaculture-Based, Triple Bottom Line Businesses, will be issued to those projects on the Solstices. You will need Bitcoin to purchase Permacredits. You easily can purchase your Bitcoin HERE through Coinbase, our merchant service provider. They are the most trusted, well established, and easy to use interface on the market.
Can permacredits wallets handle multiple currencies (in a user-friendly way) showing the balance of all currencies in one dashboard screen?
One of our first initiatives is creating a cross platform Permacredits App that will not only provide a multiple currency wallet controller with balances and exchange rates, but will also be the platform where Permacredit holders will involve themselves in a decentralized self governing manner with the projects entering our ecosystem for funding. As a Permacredits holder, you will get to vote, up or down on potential projects and crowd source ideas and solutions.
Does Permacredits as an org keep information that can be used to measure the velocity of the currency as well as some measure of the degree to which circularity is achieved? (does the currency actually go around in full circles? how fast and how fully?)
Because CREDITS ride on the open network of the Blockchain, every transaction is recorded and forever emblazoned there. We encourage programs and projects designed to monitor all the records, and provide some coherence for our members and auditors. If an individual or group would like to take this on we may offer a bounty for such a service.
Does Permacredits as an organization allow (and even encourage) the eventual transition to pure gift economies?
This is the goal. Transition to a resource-based economy with measurable metrics, integrating the 8 forms of capital outlined in the work of Ethan Roland and Gregory Landua. The philosophy of Permacredits harkens back to tribal coherence and the ancient wisdom traditions that form the foundation of our civilization. Gifting circles and a gift economy are the fertile soils from which we spring and we shall never forget our roots.
Permacredits offers an appropriate tool to help us transition from currencies functioning in the top-down model, to a more human-centered approach of exchange. Permacredits function without central banks, government controls or for-profit corporations making rules about how the money can be used, and making decisions that ultimately cause the value of the currency to depreciate.
How exactly do Permacredit dividends work?
We do not have dividends. We have network surplus. Each quarter the projects in our network that have been funded by the Permacredit ecosystem will buy Bitcoin with their intended surplus gift and send those Bitcoin to a wallet which automatically splits those BTC between every Permacredit that is in our Permacredits wallet. So you will get BTC gifts every quarter into your Permacredits wallet based on the number of CREDITS you have there.
You can store CREDITS in Bitcoin wallets but they will not have any of the functionality afforded them in a Permacredits wallet, i.e. like the surplus gift sharing and voting privileges.
Can my project receive funding from the permacredit community? How?
Yes, anyone can submit a proposal to the permacredits community to receive funding during the specified funding rounds. The community of permacredit holders up-votes or down-votes each project for sponsorship. Once up-voted these proposals will then be looked over by a panel of experienced permaculture designers and business professionals. If that panel gives their added layer of approval to the proposal, it then moves on to the funding queue.
It is recommended that you consult with professionals in the creation of your proposal to make it more likely that your proposal is accepted.
When new permacredits are issued, doesn't their issuance dilute the value of all the existing permacredits? How do you protect the purchasing power of those who are holding permacredits? What are the constraints for the issuance of the credits? Will there be a maximum fixed number ever allowed to be issued?
Because the collective intelligence and decision making potential of all the individuals in the ecosystem of current Permacredits holders is brought to bear upon the projects queued for funding, it will be decidedly up to you and your fellow CREDITS holders to decide how many projects are queued, the calibre of those projects, and the amount needing to be raised.
Each new project funded brings extra value to the Permacredits in the form of shared surplus gifts, so it is actually in your best interest as a holder of Permacredits to increase the amount of projects being funded.
The more projects in the network the more gifts shared between all CREDITS. Of course you are going to want to make sure that the projects that get funded are going to succeed. Also, keep in mind that as more projects are added the value of CREDITS goes up, and when we issue more credits we will be selling them at the market rate.
This means that the first issuance will be (most likely) the best time to buy because they will likely be at their lowest price. The next issuance and subsequent issuances will raise the amount needed to fund the projects in queue but the actual amount of CREDITS will likely be less because they will cost more.
Lets say for example it's the 4th Issuance of CREDITS, and $12 million USD is needed to fund the projects in the queue. Let's also say that CREDITS are each valued at $25 dollars. Then there will only be 480,000 CREDITS issued that round whereas in the first round raising $12 million USD would mean creating 12 million Permacredits. So the amount of Permacredits issued each round will decrease as the value of each CREDIT goes up.
Eventually, there will be enough Surplus Gifts being put back into the system that there won't be the need for any more issuances. New projects will be funded by the Surplus Gifts Shared from the existing ecosystem if the community chooses to re-spend their gifts back into creating more successful projects.
So, yes, there is a cap, but it will be definitevly decided by the community when that time comes.
If permacredits are built on top of bitcoins, what exactly are they? And how does that work?
This is bitcoin 2.0 in action. Permacredits are a user created asset built on the Counter Party Platform. The value of Permacredits is their ability to fund and power profoundly impactful permaculture based triple bottom line businesses which share surplus gifts back into the wallets of people who have CREDITS. The power comes from our network and the intelligence, integrity, and passion of all the people working to build a healthier, more sane, balanced world of planet, people, and profits.
Can permacredits allow the creation of new currencies on-the-fly? For example, currencies that last for the duration of a PDC or even just a one evening transition towns workshop.
Yes! In time this capability is bound to be not only possible, but easy. These are functions that are still being developed in the world of Bitcoin, and this is part of what we aspire to provide. Once you are in the Permacredits eco system and those functions become available you will be able to create currencies for specific projects, to be used internally as payroll, fundraise against Permacredits, as tickets for events, contracts to ensure crop yields, and more. This will require some higher-level functioning that we will be providing training for as well. First thing's first - let's get you some Permacredits.
How exactly does voting work? How do people submit projects to be funded?
To vote and to enter projects into the ecosystem to get funded, you (or someone on the projects team) need at least $100USD worth of Permacredits in our function laden wallet to be issued a password and invited into the Permacredits app. This app will serve as a decentralized governance tool where voting, discussions, crowd-sourced solutions, and debates will take place.
If you have a business that is seeking funding you enter it in the section on the app for new projects where you will get constructive feedback, guidance, ideas, solutions, and more. It is in your interest to network with people in the ecosystem and gain support. When you feel it is ready to be voted upon, you call a vote. The community gets emailed that there is a vote to be had and the bounty being paid for their vote (a dollar worth of permacredits for example). Then they login and vote.
If they vote your project up, then you petition three council members to sign off on your Project. They will automatically be notified of all projects that get up-voted and are ready for sponsorship. The Council members who attach themselves to your project get paid to do so and it is in their interest to pick an abundance of good projects. They review your business, the plan, the permaculture design, and sponsor you into the queue for funding (unless there is a glaring problem that needs addressing).
If the community votes your project down it is because there is an issue needing to be addressed and you go back and rework your plan.
What is the comprehensive job description of a council member?
Each time a project is up-voted and ready for sponsorship an email gets sent out to all the Council Members. It is in their best interest to monitor these projects for a number of reasons. One, they will be seeing the cutting edge new projects in a market they are intimately involved in, so they are kept abreast of the newest developments. Two, they get paid to pick, sponsor, and review businesses to ensure quality and a triple bottom line. And ultimately, they will want to associate themselves with such innovation and ensure its viability because they too benefit as CREDITS holders as more successful projects are added to the network (and because the more positive influence, triple bottom line companies there are on this planet, the better it is for all).
Their job, once selected to a project as a consultant, is to review the project to ensure its permaculture standards, and triple bottom line nature. They must ensure that each project will heal the planet in some way, take care of the people involved in the project, and that the project will indeed be profitable. They are also encouraged to help with connections and valuable experience in answering questions, providing guidance, making strategic introductions, and providing general council. They are consultants on these projects and provide guidance only. Generally, they do not get involved in the implementation, operations or management of the project.
If I am a business what are my advantages of accepting permacredits instead of bitcoins?
By accepting permacredits you enter into a local economy with people of like-minded values, ideologies, and hopes for the world. Local currencies increase local commerce by as much as seven times non-local currencies. Your business could see an increase in revenue from those people within this "local" community.
We are now locals no matter where in the world we are. When you use Permacredits, you are supporting businesses and people who want to see the world as a healthy, abundant, prosperous, sane and balanced world. You are DIRECTLY helping THAT world come into existence. This is the Global Village come alive.
As for the value...Whereas Bitcoins price is based purely on speculation, Permacredits price is based on the amount of surplus gifts shared in the form of BTC to all CREDITS. This means that there is a base floor price at which CREDITS can be valued at any give time. NO other crypto currency does this.
Is everything in permacredits open source? Is permacredits part application/software and part built on top of bitcoin currency? Is there anything that is not open source or p2p distributed?
Everything is open source. The app that we are considering using is an open source application. Its up on github right now.
Has there been any pre-release or "pre-mining"?
Yes and no. We have not yet issued any CREDITS, but when the first issuance takes place we will be creating a pool of permacredits that will go to pay bounties to build the network, build the permacredits app, build relationships with investors, etc. The budget to do those things will be decided upon and executed in the first issuance.
Is it limited to a certain geographical areas, such as the U.S. or certain states within?
No, Global is the new local and we base this on similar values, ideologies and interests. Permacredits are literally the Local Currency for the Global Permaculture Movement.
Are there, or will there be ways to EARN these Permacredits instead of just exchanging USD?
Yes, you can sell goods or services and accept CREDITS. You can work in an environment that uses CREDITS as payment, you can start a business that gets funded in the Permacredits ecosystem, and of course you trade them on the open market and in exchanges.
When/how can I get involved!
Be sure you sign up on our email list to be notified of every issuance and up to date news on our growth, impact, and expansion. When you get your first CREDIT you gain access to the entire kingdom. You will receive notifications whenever a new project enters the eco-system, see how the operate, learn from their innovations, apply your skill and experience in lending a hand, and encouraging growth in new endeavors. These are exciting times we are living in.
How do people acquire/buy permacredits?
Currently the only way to get Permacredits is to purchase them with Bitcoin at our Solstice Issuances. Click HERE to get signed up with Coinbase if you need to purchase Bitcoins.
How does the IRS statement effects permacredit businesses and how those businesses will be able to continue using permacredits as a payment currency. More speicifically, how can permacredits can be used as a payment to employees and still pay the taxes companies need to take out.
This is a question best reserved for your CPA and lawyer team. We would be remiss to provide any financial advice or guidance.
How can I get involved? Both financially and at the grassroots permaculture level.
The great thing about Permaculture is that it is everywhere. Permaculture is just a name for our ever increasing ability to achieve our holistic goals working with the natural systems that surround us. Take a walk in the woods, listen, watch, and relate with your environment and you will see permaculture in action. If you want a more hands-on approach to learn the skills for designing permaculture systems please check out Permaculture.org or any of the number of Permaculture Design Courses (PDC's) that are being offered around the world. It is remarkable and inspiring. Of course if you want to support this growing market that helps the planet you can do so from anywhere in the world simply by purchasing CREDITS here during one of our funding rounds.
Do people earn fair wages when they are paid in permacredits?
Hourly rates and per project payments are agreed upon by workers and employers amongst themselves. Should they be paying in Permacredits they simply use them at the going rate. The permaculture community follows the ethics of people care, and it is widely agreed that this includes fair wages.
Is there a "fair share" possible in pemacredits?
If by "fair share" you mean an even distribution of CREDITS amongst people no matter their level of buy in, then no. If you spend 3 bitcoin and I spend 1 bitcoin, I get 1 Bitcoins worth of CREDITS and you get 3 Bitcoins worth of CREDITS.
If by "fair share" you mean an evenly distributed share of surplus gifts then yes. The gifts that are given back to the permacredit community are split evenly between every credit in the permacredit wallet system. If there are 3 million CREDITS in Permacredit wallets then the surplus gifts get split 3 million ways and distributed accordingly.
How can people/businesses support you and permacredits in the interim? Is there something we can display on our website or in a physical store indicating that we will accept permacredits?
We will be providing specially designed Paper Wallets, Logos, .PNG's for websites, Banners and more. Please be sure to sign up on the email list and stay tuned for those developments.
What sort of businesses or ideas can apply for permacredits?
Me, personally, i would like to see mothers in india get micro funds for their livelihoods. I would like to see Cloud Forest preservation with specialty off-grid eco-labs for explorers and scientists. I would like to see self sustaining Skyscrapers in urban centers. I would like to see urban farms with high yields, teaching apps, and all sorts of impactful businesses who have a triple bottom line of people, planet, and profits. THAT being said, it is not up to me. It is up to the ecosystem of CREDITS holders to self determine, push boundaries, and innovate.
Any project can be submitted. Only those that the community approves will receive funding.
Can a business not only take, but also pay others with these credits?
Yes of course. If you as a business want to pay people in CREDITS, then you can purchase them here on Permcaredits.com and then pay people with them as you normally would. The cool thing about this is that between the time you purchase them and the time you use them as payment their value could increase and might net you some extra profit.
It would be spectacular to be able to reward children who are inquiring about and planning incredible project-based learning opportunities by taking some of the profits of the business and giving permacredits to some of the outstanding projects they come up with. Will you do that?
That actually sounds like a phenomenal idea. You know there was a young man in highschool who devised a method of extracting diesel fuel from algae. It came out costing .25 cents a barrel or something incredible. If CREDITS were around during his development he could have kept his method, expanded quickly, and be supported by an ecosystem where his literally planet saving technology could grow and flourish without threat of being bought out, shut down, or sabotaged. We strongly encourage the Permcaredits community to make a separate kitty to fund unique, fast moving, youth driven innovations. We can't force it. We take part in the ecosystem just like everyone else.
What will a permacredit get me?
Besides being usable for goods and services at our growing network of Eco Developments, Permaculture Design Schools, Farmers Markets, and more, you will be able to exchange Permacredits for the currency of your choice on the open market for the current market price.
Can permacredits be converted into a grant?
If by "converted into a grant" you mean being able to give them away to projects you think could use support, then YES by all means. In fact, we would like to encourage all the holders of CREDITS to organize a charitable giving pool.
Such coherence, much vibes. So Permaculture. If you dont understand why i just said that nonsensical statement please be sure to google "Dogecoin" and see how the whole community of people who have Dogecoins ("Shibes" as their called) has raised money to send the Jamaican Bobsled team to the Olympics, and most recently sponsored a NASCAR race car. The currency itself is based on the good vibes and LOL's of a particularly entertaining internet meme of a Shibe dog. And in the DOGE community it is common practice to "tip" someone a DOGE if they make you laugh or bring entertaining value to your internet adventures. We love our four-legged friends and encourage the same gifting economy of scale for everyone who holds CREDITS.
How do I manage permacredits with my taxes?
This is a question for your accountant and lawyers. we do not give any financial advice.