Time Republik ,Time banking and the sharing economy

[TimeRepublik]

Considering time is relative, how are they going to measure it?
Doesn't make much sense to me. We as a society aren't ready to remove money out of the system, we still need money and im afraid it will be like this for a long time. Might as well use the objectively best form of money out there, and that's Bitcoin.

We absolutely agree that bitcoin is extraordinary and we certainly cannot remove money. We are simply offering a complimentary system to give more options. 

Time’s effect on humans does change depending on how close they are to the ground but this is an infinitesimally small amount. So, we say for all practical purposes time is a constant. Time unlike currency is not based on belief. The only thing that everyone in the world seems to agree on is that an hour takes an hour and that there are 24 of them everyday. We are leveraging this shared opportunity to introduce a complimentary system to the current one that gives some different options and possibilities. We see the power and extraordinary world changing potential behind bitcoin and are simply offering yet another option for bringing about a paradigm shift. 


[TimeRepublik]

yes, +1 same question
can we make online money from this project or this is just for tutorial information?

We have more than one user that was able to find a job, because of interactions on the platform. People, especially younger students, are able to build a portfolio. Also countries with heavy unemployment rates (Youth unemployment in Spain 73%!!!) find in TIMEREPUBLIK a valuable solution to still be active, get services, and have global visibility.

[odolvlobo]

Thanks for the feedback, Ithaca Hours is a good example of an alternate economy however, each HOUR had a dollar equivalent, they printed it on paper, and it was accepted at local businesses. The goal was to promote the local economy and according to the wiki several million hours were traded.

“Each HOUR would be worth the equivalent of $10, which was about the average hourly amount that workers earned in surrounding Tompkins County,[9]”
https://en.wikipedia.org/wiki/Ithaca_Hours

The stark difference, is that Ithaca Hours do not represent TIME.

Ithaca Hours started out by crediting time just like TimeRepublik (1 Ithaca Hour = 1 hour), but it didn't work so they switched to 1 Ithaca Hour = $10.

TIME is equal for everyone, there are 24 hours in a day, 60 minutes in an hour, 60 seconds in a minute for EVERYONE. This is our approach at TimeRepublik which is why TIME cannot be purchased, it can only be exchanged.

Our goal is to promote a global economy of Time Banking with people all over the world. Because TIME is created equal, we challenge everyone to think of exchanging services or value for time itself. The value someone can deliver in an hour, is what determines the value of that person’s skills.

If person A can produce 10 widgets in an hour, and person B can produce 100 widgets in an hour, then how much is a widget worth, 1/10 hour or 1/100 hour?

Person B sells his widgets for 1/100 hour. He gets 1 hour for one hour of work. In order to compete, person A must sell his widgets for 1/100 hour. He gets 1/10 hour for one hour of work. A's time is not equal to B's time.