WikiMoney
The WikiMoney project is an initiative that aims to create physical currencies edited by humans and which turn into physical cryptocurrency wallets: each volunteer is rewarded with an issue bonus proportional to their contributions.
Previous WikiMoney projects[edit]
- WikiMoney (symbol: ψ) was a time-based credit system proposed byAxelBoldt in 2003
- a community edited wiki to illustrate how organizations and people are linked financially Proposed by Wikij84 in 2011
- a virtual currency that is used on Wikia : Wikimoney can be used to purchase items on Wikia, and can also be used to donate to Wikia.
WikiMoney logo by MG~commonswiki (2005)
Wikimoney coins logo by Tkgd2007 (2008)
Related crypto projects[edit]
- Bitcoin, a copyleft cryptocurrency editable by computers using traceable and pseudonymous public addresses
- Wikicoin, a global, open-source, decentralized, digital currency. It is designed to enable the widespread adoption of Wikipedia as a reliable, secure, and effective source of information. This currency uses cryptography to secure transactions and to create a decentralized platform.
- Wikiwallet, a physical currency composed with countermarked coins.
Copyright vs copyleft projects
For a return of monetary scarcity energy-based rare metals !?
Historical reminders[edit]
Historically, currency inflation has become chronic since the First World War. This led to the abandonment of the metal standards that were gold and silver in the world, which were relatively apolitical. The artificial scarcity of electronic currencies transforms each currency into a community political tool.
Since the subprime crisis (and the creation of bitcoin in 2008) until 2018, the money supply of the eurodollar (M1) has tripled; and interest rates have been extremely low (even negative) to support this economy.
Because of COVID-19 pandemic, physical currencies (coins and banknotes) have been used marginally. Since 2022, double-digit inflation has made the use of physical currency increasingly marginal; the cost of producing several coins being higher than their face value.
Understanding debt-free money means accepting that you receive no interest from holding bitcoins, like gold. Generating interest like ethereum by "staking" it leads to a banking system: and in this case ether (ETH) is not money but a raw material that can be described as oil!
EBC evolution of the various components M1, M2 and M3 of the money supply in billion euros
Limit mining to certain actors to avoid wasted energy: 1/1000 of the electricity consumed is used for the bitcoin blockchain; 999/1000 for speculation designating the block validator receiving the mining reward
![Without inflation, a compound interest of 5% on 1 kilogram of gold would be equal to world's stock of 170,000 tonnes gold mined in 390 years[3]](//upload.wikimedia.org/wikipedia/commons/thumb/c/c2/1kg_of_gold_placed_at_5_percent_exceeds_the_world_stock_of_mined_physical_gold_in_333_years.png/120px-1kg_of_gold_placed_at_5_percent_exceeds_the_world_stock_of_mined_physical_gold_in_333_years.png)
Without inflation, a compound interest of 5% on 1 kilogram of gold would be equal to world's stock of 170,000 tonnes gold mined in 390 years[3]
![According to ChatGPT, 170,000 tons of gold and silver extracted but about 21,000 tonnes silver mined remains stored on the surface of the earth[1][2]](/wiki/File:Above_ground_gold_and_silver_stocks.png){kind=small}
![Without inflation, a compound interest of 5% on 1 kilogram of gold would be equal to world's stock of 170,000 tonnes gold mined in 390 years[3]](/wiki/File:1kg_of_gold_placed_at_5_percent_exceeds_the_world_stock_of_mined_physical_gold_in_333_years.png)
Potential advantages[edit]
WikiMoney currencies have several potential advantages:
- to reward the contributors of Wikimedia projects for their voluntary work and to encourage them to continue to participate.
- to promote the dissemination of free knowledge and awareness of Wikimedia projects among the general public.
- to offer an alternative to traditional currencies or digital cryptocurrencies, which may be subject to inflation, volatility or censorship.
- to create a link between the physical world and the digital world, using innovative technologies such as blockchain or QR codes.
- to promote cultural and historical heritage, using existing coins or creating new coins inspired by art or science.
Possible drawbacks[edit]
WikiMoney currencies also have a few possible drawbacks. They can be :
- lost, stolen or damaged, unlike digital cryptocurrencies which are stored on electronic media.
- difficult to use or accept by some people or some businesses, who are not familiar with alternative currencies or Wikimedia projects.
- subject to fraud or counterfeiting, if the technologies used are not sufficiently secure or verified.
- limited by the availability or cost of the coins used as a support or as a model.
- controversial or illegal in some countries or jurisdictions, which prohibit or regulate the use of alternative currencies or cryptocurrencies.
Improvements[edit]
To improve the WikiMoney project, you can:
- Participate in the discussion on the project talk page.
- Propose ideas or suggestions to improve the design, security or distribution of WikiMoney currencies.
- Make the project known to other people interested in alternative currencies or Wikimedia projects.
- Contribute to Wikimedia projects related to the subject, such as Wikipedia, Wikidata or Wikimedia Commons.
- Financially support the project or the Wikimedia Foundation.
Related articles[edit]
See also[edit]
References[edit]
- ↑ According to the estimates available to ChatGPT claims that an equivalent amount of 170 millions kg of gold or silver have been mined since mining began.
- ↑ According to residual stocks, silver would therefore be about 10 times rarer than gold.
- ↑ If you were to invest one bitcoin at a 5% annual interest rate, it would take approximately 347 years for the value of your investment to grow to 21 million BTC.