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Author Topic: geekcredit  (Read 810 times)
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December 30, 2010, 03:08:25 PM

I don't knwow what this is,  I've just found out about it.

The description looks very much like bitcoin.

Geek Credit is a digital complementary currency for internet. It is decentralized, secure, interest and
demurrage free. It is backed by mutual credit (time). There is no central issuing and control authority, so it
is a true peer-to-peer currency.
It is a digital form of WATT local currency system that is used in Japan.
Like any complementary currency it is best fit for paying for services within a community. So for internet it is
paying to free software, mp3s, books, best blogs, items from MMORGs, etc.
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December 30, 2010, 04:34:59 PM

It's something like bitcoin indeed, just can't really find how the credits go into the systeem.
Can't find anything about generating or something similar.

Last changes are from 2004, so I guess this project is pretty dead.

From the manual, an example how it works:
This Geek Credit was created by alice who paid to bobby few Geek Credits including this one. Later bobby paid to catty using this Geek Credit. If later catty will pay it to alice, this credit will be redeemed (destroyed).

If I'm correct it is more a lets system.
When I was reading the faq that comes with the source it was like I was reading a faq for Bitcoins.
Allready was thinking, wtf this is from 2004? But seems like there are some things very different.

BTC: 1MifMqtqqwMMAbb6zr8u6qEzWqq3CQeGUr
LTC: LhvMYEngkKS2B8FAcbnzHb2dvW8n9eHkdp
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