http://wiki.obyte.org/mediawiki/index.php?title=Personal_tokens&feed=atom&action=historyPersonal tokens - Revision history2024-03-29T10:53:11ZRevision history for this page on the wikiMediaWiki 1.32.0http://wiki.obyte.org/mediawiki/index.php?title=Personal_tokens&diff=1221&oldid=prevSlackjore: update name2019-01-20T19:12:24Z<p>update name</p>
<table class="diff diff-contentalign-left" data-mw="interface">
<col class="diff-marker" />
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<col class="diff-marker" />
<col class="diff-content" />
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<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">← Older revision</td>
<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">Revision as of 19:12, 20 January 2019</td>
</tr><tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l1" >Line 1:</td>
<td colspan="2" class="diff-lineno">Line 1:</td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Personal tokens are one of the five kinds of [[token]] on the <del class="diffchange diffchange-inline">Byteball </del>platform. In a local community, most people have regular money in varying amounts, and it works fine apart from one generally not having enough of it. But there are other resources, personal to the individual, that can be "monetised", with these tokens then being passed around like cash.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Personal tokens are one of the five kinds of [[token]] on the <ins class="diffchange diffchange-inline">Obyte </ins>platform. In a local community, most people have regular money in varying amounts, and it works fine apart from one generally not having enough of it. But there are other resources, personal to the individual, that can be "monetised", with these tokens then being passed around like cash.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Deb-alan-1.jpg|thumb]]</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Deb-alan-1.jpg|thumb]]</div></td></tr>
<tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l9" >Line 9:</td>
<td colspan="2" class="diff-lineno">Line 9:</td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Present day===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Present day===</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>How does this apply today, in <del class="diffchange diffchange-inline">2018</del>, and especially with <del class="diffchange diffchange-inline">Byteball</del>? It's not generally practical to create a token exchangeable one-for-one with the national fiat currency, although [[local currency|local currencies]] complementary to the national currency do exist. They are accepted at participating merchants to encourage residents to shop locally.<ref>https://en.wikipedia.org/wiki/Local_currency</ref></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>How does this apply today, in <ins class="diffchange diffchange-inline">2019</ins>, and especially with <ins class="diffchange diffchange-inline">Obyte</ins>? It's not generally practical to create a token exchangeable one-for-one with the national fiat currency, although [[local currency|local currencies]] complementary to the national currency do exist. They are accepted at participating merchants to encourage residents to shop locally.<ref>https://en.wikipedia.org/wiki/Local_currency</ref></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>However, [[Glossary|ICOs]] that collect money in exchange for tokens -- especially on the Ethereum platform -- are very popular, despite threats of government regulatory action.</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>However, [[Glossary|ICOs]] that collect money in exchange for tokens -- especially on the Ethereum platform -- are very popular, despite threats of government regulatory action.</div></td></tr>
<tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l17" >Line 17:</td>
<td colspan="2" class="diff-lineno">Line 17:</td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The [[File:Bobby-10credits.jpg|thumb|upright=0.67]] thing about non-crypto tokens is many ideas seem great until you get to the practicalities and realise that any physical tokens one will make (hand-made or computer-printed or even hammered rounds of metal) can easily be counterfeited. It's why national banknotes and passports are so incredibly intricate and beyond creation at home. And creating a crypto token on the Ethereum platform, say, is relatively difficult and costly.</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The [[File:Bobby-10credits.jpg|thumb|upright=0.67]] thing about non-crypto tokens is many ideas seem great until you get to the practicalities and realise that any physical tokens one will make (hand-made or computer-printed or even hammered rounds of metal) can easily be counterfeited. It's why national banknotes and passports are so incredibly intricate and beyond creation at home. And creating a crypto token on the Ethereum platform, say, is relatively difficult and costly.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>But <del class="diffchange diffchange-inline">Byteball </del>tokens change all that because:</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>But <ins class="diffchange diffchange-inline">Obyte </ins>tokens change all that because:</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>* the cost and effort of creation is negligible, and </div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>* the cost and effort of creation is negligible, and </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>* despite this ease one's token is instantly recognisable and can't be forged.</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>* despite this ease one's token is instantly recognisable and can't be forged.</div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Textcoins==</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Textcoins==</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Deb is perfect to illustrate all this as she both likes <del class="diffchange diffchange-inline">Byteball </del>and loves to give away her kisses with wild abandon. If an intended target does not have a <del class="diffchange diffchange-inline">Byteball </del>wallet yet, no problem. She sends some “Kisses by Deb” as a [[textcoin]] in a text message on WhatsApp or whatever is in vogue at the time.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Deb is perfect to illustrate all this as she both likes <ins class="diffchange diffchange-inline">Obyte </ins>and loves to give away her kisses with wild abandon. If an intended target does not have a <ins class="diffchange diffchange-inline">Obyte </ins>wallet yet, no problem. She sends some “Kisses by Deb” as a [[textcoin]] in a text message on WhatsApp or whatever is in vogue at the time.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Creating and registering tokens===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Creating and registering tokens===</div></td></tr>
</table>Slackjorehttp://wiki.obyte.org/mediawiki/index.php?title=Personal_tokens&diff=579&oldid=prevPunqtured: 2 revisions imported2019-01-19T22:20:10Z<p>2 revisions imported</p>
<table class="diff diff-contentalign-left" data-mw="interface">
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<td colspan="1" style="background-color: #fff; color: #222; text-align: center;">← Older revision</td>
<td colspan="1" style="background-color: #fff; color: #222; text-align: center;">Revision as of 22:20, 19 January 2019</td>
</tr><tr><td colspan="2" class="diff-notice" lang="en"><div class="mw-diff-empty">(No difference)</div>
</td></tr></table>Punqturedhttp://wiki.obyte.org/mediawiki/index.php?title=Personal_tokens&diff=578&oldid=prevSlackjore: minor edits to change the old "social token" to "personal token"2018-04-26T20:07:39Z<p>minor edits to change the old "social token" to "personal token"</p>
<table class="diff diff-contentalign-left" data-mw="interface">
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<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">← Older revision</td>
<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">Revision as of 20:07, 26 April 2018</td>
</tr><tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l1" >Line 1:</td>
<td colspan="2" class="diff-lineno">Line 1:</td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">Social </del>tokens are one of the <del class="diffchange diffchange-inline">four </del>kinds of [[token]] on the Byteball platform. In a local community, most people have regular money in varying amounts, and it works fine apart from one generally not having enough of it. But there are other resources, personal to the individual, that can be "monetised", with these tokens then being passed around like cash.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">Personal </ins>tokens are one of the <ins class="diffchange diffchange-inline">five </ins>kinds of [[token]] on the Byteball platform. In a local community, most people have regular money in varying amounts, and it works fine apart from one generally not having enough of it. But there are other resources, personal to the individual, that can be "monetised", with these tokens then being passed around like cash.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Deb-alan-1.jpg|thumb]]</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Deb-alan-1.jpg|thumb]]</div></td></tr>
<tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l23" >Line 23:</td>
<td colspan="2" class="diff-lineno">Line 23:</td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{clear}}</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>{{clear}}</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>==The <del class="diffchange diffchange-inline">Social </del>Tokens system==</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>==The <ins class="diffchange diffchange-inline">Personal </ins>Tokens system==</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Social-tokens-1.jpg|thumb|left]]</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Social-tokens-1.jpg|thumb|left]]</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Personal tokens===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Personal tokens===</div></td></tr>
</table>Slackjorehttp://wiki.obyte.org/mediawiki/index.php?title=Personal_tokens&diff=577&oldid=prevSlackjore: renamed Social Tokens to Personal Tokens, moved page to here2018-04-26T20:03:50Z<p>renamed Social Tokens to Personal Tokens, moved page to here</p>
<p><b>New page</b></p><div>Social tokens are one of the four kinds of [[token]] on the Byteball platform. In a local community, most people have regular money in varying amounts, and it works fine apart from one generally not having enough of it. But there are other resources, personal to the individual, that can be "monetised", with these tokens then being passed around like cash.<br />
<br />
[[File:Deb-alan-1.jpg|thumb]]<br />
==Backing==<br />
To be more than a [[fun-coins|fun-coin]], useful for practising [[textcoin]]s or [[smart contract]]s but with zero monetary value, a token must be backed by something. That means the bearer can exchange the token with reasonable ease for something in the real world that the bearer considers valuable.<br />
<br />
===Historical===<br />
In the distant past, "I promise to pay the bearer on demand the sum of 1 pound" on a one-pound English note meant on presentation at the bank the bearer could receive in exchange one pound weight of sterling silver. With fiat money -- where it's still valuable -- the backing is only the confidence that other people will accept it in exchange for usual goods and services.<br />
<br />
===Present day===<br />
How does this apply today, in 2018, and especially with Byteball? It's not generally practical to create a token exchangeable one-for-one with the national fiat currency, although [[local currency|local currencies]] complementary to the national currency do exist. They are accepted at participating merchants to encourage residents to shop locally.<ref>https://en.wikipedia.org/wiki/Local_currency</ref><br />
<br />
However, [[Glossary|ICOs]] that collect money in exchange for tokens -- especially on the Ethereum platform -- are very popular, despite threats of government regulatory action.<br />
<br />
==Counterfeiting==<br />
<br />
The [[File:Bobby-10credits.jpg|thumb|upright=0.67]] thing about non-crypto tokens is many ideas seem great until you get to the practicalities and realise that any physical tokens one will make (hand-made or computer-printed or even hammered rounds of metal) can easily be counterfeited. It's why national banknotes and passports are so incredibly intricate and beyond creation at home. And creating a crypto token on the Ethereum platform, say, is relatively difficult and costly.<br />
<br />
But Byteball tokens change all that because:<br />
* the cost and effort of creation is negligible, and <br />
* despite this ease one's token is instantly recognisable and can't be forged.<br />
This is a '''big''' deal!<br />
{{clear}}<br />
<br />
==The Social Tokens system==<br />
[[File:Social-tokens-1.jpg|thumb|left]]<br />
===Personal tokens===<br />
One creates a "personal token". This is not an empty token but one backed with some real-world good or service that enough people in one's group would value. The default resource, that most anyone can monetise to some extent, is their spare time. So Bobby Smart creates a token called "Minutes by Bobby Smart" that he issues very carefully. Because the promise is that '''anyone''' holding his tokens can "cash them in" with Bobby on demand in exchange for that many minutes of his time and attention. Obviously one is not expected to drop whatever they are doing to honour the new demand, but a reasonable accommodation, satisfactory to both parties, should be made.<br />
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===Good faith===<br />
This is a good faith system, where "I promise to pay the bearer on demand ..." for once means what it says. Both token issuers and token redeemers are expected to act reasonably and if they don't the value of their "money" will drop accordingly along with their social reputation.<br />
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===Skills===<br />
The time of a professional, whether a plumber or a tax accountant, will have to be specified as social or professional, i.e. whether an hour with the plumber is just chat or includes unblocking your sink.<br />
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"Minutes by Gary Watson", a local plumber, would be a confusing token. Does this time include plumbing labour, or only chat time? "Plumbing Minutes by Gary Watson" or "Casual Minutes by Gary Watson" would be clearer. But "Professional Landscape Gardening Minutes by Sotiris Papadopoulos" isn't going to fit in the space available.<br />
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===Exchange rates===<br />
Just as 1 Zimbabwean Dollar is not worth the same as 1 US Dollar, "Kisses by Sally Snodgrass" might not be as prized -- or as rare -- as "Kisses by Sarah Sweetbrush". The relative values of various similar tokens in a community will become clearer as time goes by.<br />
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===Fiat or token?===<br />
Some items can readily be exchanged for fiat cash, but others could be exchanged for social tokens that don't feel right to sell for cash. For example, spending an hour fixing a good friend's computer would probably be done for free; doing it for a complete stranger might involve a normal cash payment; but how about the awkward area in the middle where neither seems appropriate?<br />
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===Examples===<br />
These are things friends with skills might do for each other, not full-blown commercial offerings.<br />
* Lambo rides (from a rich family)<br />
* DJ sessions<br />
* Haircuts<br />
* Microbrews (from a home-brewing fan)<br />
* Backrubs<br />
* Horserides (family farm)<br />
* Makeovers (make-up expert)<br />
* Portraits (from someone who draws well)<br />
* Guitar lessons<br />
* Language lessons (bilingual person)<br />
* Listening minutes (sympathetic person)<br />
* Babysitting hours<br />
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==Textcoins==<br />
Deb is perfect to illustrate all this as she both likes Byteball and loves to give away her kisses with wild abandon. If an intended target does not have a Byteball wallet yet, no problem. She sends some “Kisses by Deb” as a [[textcoin]] in a text message on WhatsApp or whatever is in vogue at the time.<br />
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===Creating and registering tokens===<br />
How tokens are '''created''' is covered in the [[asset]] article. To have a token '''display''' in English, "Tingos by Jore Bohne" instead of "O1DbJWbZJfKhjZQYH5RrdRQ2ojMuo2WiaKbjIWSWd4E=", requires registration<ref>https://docs.google.com/document/d/e/2PACX-1vQnpiwTipnBgrhSJcELOYYAOa3mTLZbmLmOebbtHFJFrfgHtlsNNZ9MPEGafvtuTnVAyfWukwu_hYSB/pub</ref> too.<br />
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Note your created token name will always display in the form:<br />'''&lt;goods/service'''> by &lt;'''your identity as verified by the token name registry'''>. See [[asset#Byteball_Asset_Manager|asset]] article for details.<br />
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==See also==<br />
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==References==<br />
<references /><br />
[[Category:Tokens]]<br />
[[Category:Features]]</div>Slackjore