CommunityCoins.org

We are not sure yet. We think a community coin should be a true cryptocurrency with a local bias. The challenge of Rooty is to provide a mathematical definition. Because anyone should be able to create a true cryptocurrency, a parallel definition is necessary to distinguish true from false. Both definitions are the central part of Rooty, but currently the team is too small to declare "laws". There should be ample room for opinion and discussion while the fabric of cryptocurrency is woven.

A community is a group of people and almost always refers to geographical communities. Each community has social, cultural, environmental, economic and political dimensions. Each community has some form of governance and through separation of powers Montesquieu argued [1748] that a tripartite system [government, parliament, court] would bring an ideal balance of power to a community. One flaw is the control over money. Access to money means power and the control of its supply is an ultimate power that could never succesfully be balanced. Until the arrival of cryptocurrencies. With cryptocurrencies an individual no longer needs to delegate the power of money, because its posession is private and transfer between two individuals cannot be censored.

When money behaves properly you can exchange available assets for available money and vise versa. If the amount of money is fixed in a free market, the price of money offers all the flexibility necessary to represent scarcity. Because people save money to be able to spend it later and because people cherish assets instead of wasting them the sound equation becomes [avalable supply] x price = [available assets] x value.

Once a cryptocurrency is defined its future supply is fixed and supply becomes a constant that cannot interfere with market functions. This was the initial euphorea around Bitcoin until a new phenomenon became obvious: everybody could initiate new cryptocurrency to be mined by others and to be (initially) allocated as much as desired to specific purposes. Another complication became apparent because the transaction capacity of a single cryptocurrency is limited to about one million transactions per day. Community coins are the natural solution to both challenges because communities are small networks by definition and aspects such as identity, reputation, trust, language and concentration all contribute to local adoption and remote aleniation.

Again there is no easy answer. The slogan of rooty is "cryptos empowering people and communities". This is an indication of the purpose of community coins. Ideally this purpose should be the true intention of those we invite. It should be the intention of any team or individual that promotes a community coin.

With all your help this project will resolve more than satoshi's vision about liberty and the struggle against authoritarian control. This project particulary adds local coherence to the landscape of cryptocurrency. It wil also justify all the work that has already been done by hundreds of volunteers in the field of community coins. We recognise that identity not only exists on the individual level and we will demonstrate that communities exist because they are different. By no means that prevents them to join forces and to cooperate.