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Author Topic: New Epic Fail Currency? 'Occcu'  (Read 7289 times)
AnonymousBat
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February 07, 2012, 05:13:28 PM
 #1

This seems to be a new currency for the 'occupy' movement. A currency that you can only have for thirty days.

The question one has to ask oneself, how do you save enough for a large purchase? Such as a house or a car? Nevermind the counterfeiting problem.

I find it humorous that someone actually spent the time to make such a system.

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A new complementary currency, the Occcu, falls under the category of a “basic-income currency” which is like a form of social security paid to all individuals.  About the only thingOcccu has in common with Bitcoin is that they both can be traded person-to-person online.
 
A promotional flyer for the Occcu describes it as “a fair global currency”.  To prevent hoarding the Occcu imposes “demurrage” (negative interest).  You’ll want to spend your Occcus right away as anything you don’t spend loses its value — 25% of any unspent balance after thirty days goes back to the community chest.
 
The currency can be spent from a mobile through the web interface.  Paper checks are available but simply act as a receipt for the payment recipient to hold until the sender manually enters the information at a later time once connectivity is available.
 
The currency was introduced at the recent World Economic Forum in Davos.
 
The name Occcu comes from OCCupy-CUrrency, a currency that would be desirable to (some/many in) the Occupy movement.  Users registered with the Occcu.com website receive a chunk of the currency during sign-up and will receive the basic-incoome allotment monthly.  The Occcu website lets registered users view and place ads for trade, make payments and P2P transfers.
 
It is not apparent yet how counterfeiting will be prevented as currently a single individual can create multiple identities and receive the full basic-income for each.
 
There have been calls from some individuals for Bitcoin to be forked or to be superceded with an alternate blockchain to introduce features such as demurrage.  Many Bitcoiners are attracted to Bitcoin specifically because its current economic properties.   The the software could technically accommodate these changes, buy-in would need to come from these individuals as they hold the power to refuse to switch to software the devalues the currency they hold.
 
However just as Bitcoin was the catalyst for the conversation on various aspects of money the Occcu will likely cause further conversation as well.

http://www.bitcoinmoney.com/post/17199295201/introducing-the-occcu

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February 07, 2012, 05:14:12 PM
 #2

Why not use Bitcoin?

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AnonymousBat
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February 07, 2012, 05:15:48 PM
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Why not use Bitcoin?

Because they don't like the fact that people save their money. Remember, it's all about SPENDSPENDSPEND!
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February 07, 2012, 05:21:10 PM
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Some dweebs are mining OCCU as alt cryptocurrency on their CPUs and issuing it (the OCCU, I mean) to OWS women they like.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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February 07, 2012, 05:22:26 PM
 #5

So, hyperinflationary currency is what occupiers want?

This is just crazy. We need some sanity in this world not more spending and buying stuff we don't need.

And what's with the monthly basic-income? I don't have to do anything to get that currency? What's the value of it then if you can get it for free? This is a very strange idea to say the least.
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February 07, 2012, 05:25:10 PM
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OK I opened an account and received 20 occcus. Anyone want to trade bitcoins for them?
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February 07, 2012, 05:30:25 PM
 #7

Why not use Bitcoin?

Because they don't like the fact that people save their money. Remember, it's all about SPENDSPENDSPEND!
Some dweebs are mining OCCU as alt cryptocurrency on their CPUs and issuing it (the OCCU, I mean) to OWS women they like.

You know there were some pretty hot naked Occupy chicks at Davos running around topless.

Excuse me while I make a bunch of accounts.

Come to think of it, can't you get around the spending problem by simply sending coins to yourself on another account?
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February 07, 2012, 05:32:54 PM
 #8

Seems strangely quiet on who gets to issue this new currency.

As if I can't guess.

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AnonymousBat
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February 07, 2012, 05:35:25 PM
 #9

Seems strangely quiet on who gets to issue this new currency.

As if I can't guess.

I was wondering why there wasn't already a thread on it. Perhaps everyone that saw it died laughing.
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February 07, 2012, 05:41:57 PM
 #10

Seems strangely quiet on who gets to issue this new currency.

As if I can't guess.

I was wondering why there wasn't already a thread on it. Perhaps everyone that saw it died laughing.
Maybe this shows that there is a market for a smartphone bitcoin client - Occupy Edition. It could go viral.

[edit] Hell, just move the decimal place to bitcents and call them Occucoins that have a real online market and network. Point it to the bitcoin faucet to get a free load.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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February 07, 2012, 06:29:06 PM
 #11

What's to prevent a person from making two accounts and spending the coins by transferring them between accounts every four weeks?

I'm into creating universes, smiting people, writing holy books and listening to prayers.
If you want your prayers answered, you must donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
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February 07, 2012, 06:35:51 PM
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What's to prevent a person from making two accounts and spending the coins by transferring them between accounts every four weeks?

Seems like absolutely nothing. Smiley
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February 07, 2012, 06:50:24 PM
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"Password cannot be greater than 12 characters"

Yikes...

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February 07, 2012, 06:58:11 PM
 #14

So, hyperinflationary currency is what occupiers want?

This is just crazy. We need some sanity in this world not more spending and buying stuff we don't need.

And what's with the monthly basic-income? I don't have to do anything to get that currency? What's the value of it then if you can get it for free? This is a very strange idea to say the least.

That is the way occupiers think (and no I am not joking).  They believe the state owes them simply for existing.  If the state doesn't have enough money to give everyone a monthly income, education, healthcare, and retirement well they can just confiscate more wealth from the suckers who actually work.

"Money for nothing and your chicks for free"
http://www.youtube.com/watch?v=GWXDjiKVs2U
AnonymousBat
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February 07, 2012, 07:02:48 PM
 #15

So, hyperinflationary currency is what occupiers want?

This is just crazy. We need some sanity in this world not more spending and buying stuff we don't need.

And what's with the monthly basic-income? I don't have to do anything to get that currency? What's the value of it then if you can get it for free? This is a very strange idea to say the least.

That is the way occupiers think (and no I am not joking).  They believe the state owes them simply for existing.  If the state doesn't have enough money to give everyone a monthly income, education, healthcare, and retirement well they can just confiscate more wealth from the suckers who actually work.

"Money for nothing and your chicks for free"
http://www.youtube.com/watch?v=GWXDjiKVs2U

Or just print more money!
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February 07, 2012, 08:19:02 PM
 #16

This is a very strange idea to say the least.

It happens frequently to spoiled brats


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February 07, 2012, 10:24:16 PM
 #17

So, hyperinflationary currency is what occupiers want?

This is just crazy. We need some sanity in this world not more spending and buying stuff we don't need.

And what's with the monthly basic-income? I don't have to do anything to get that currency? What's the value of it then if you can get it for free? This is a very strange idea to say the least.

That is the way occupiers think (and no I am not joking).  They believe the state owes them simply for existing.  If the state doesn't have enough money to give everyone a monthly income, education, healthcare, and retirement well they can just confiscate more wealth from the suckers who actually work.

"Money for nothing and your chicks for free"
http://www.youtube.com/watch?v=GWXDjiKVs2U
That also goes for bankers that suck at business but want to be bailed out anyway.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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February 07, 2012, 10:39:19 PM
 #18

That also goes for bankers that suck at business but want to be bailed out anyway.

So the occupiers are just as bad the banksters they just aren't as good at getting free money. 

BTW it is possible to think both the bankster and the occupiers suck!
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February 07, 2012, 10:46:31 PM
 #19

That also goes for bankers that suck at business but want to be bailed out anyway.

So the occupiers are just as bad the banksters they just aren't as good at getting free money. 

BTW it is possible to think both the bankster and the occupiers suck!
That would require compartmentalization. I'm not agreeing with the original premise, only pointing out another opinion.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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February 07, 2012, 11:06:16 PM
 #20

Q: Why would anyone want to use this over Bitcoin?
A: To signal group affiliation with Occupy.

Q: (Months later) Why did the Occcu fail?
A: "Because the free market conspired against it!" <-- mark my words

Quote
About the only thingOcccu has in common with Bitcoin is that they both can be traded person-to-person online.
Really? I couldn't find a download link for the P2P client anywhere. I even registered and "received" 20 Occcu that I can only see on the Occcu website and have no way to withdraw it.
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