4 ms·

Doesn't it seem like they should have allowed the various businesses to accept it, but then not allow them to convert the money out of Bristol Pounds? As their

Doesn't it seem like they should have allowed the various businesses to accept it, but then not allow them to convert the money out of Bristol Pounds? As their BP balances grow, they would be forced to figure out how to integrate more tightly into the local economy, no? Turning these big companies down seems counter-productive to the goal of keeping the money circulating locally.

dpark 11y ago
You can't force it on businesses that way. It's a voluntary currency. If you make it hostile to businesses, they simply won't accept it. If you tried this, and somehow got businesses onboard, you might get some extra local economic activity. But mostly you'd just get unofficial currency exchanges popping up that buy Bristol Pounds for, e.g. 90 pence, and resell them to locals for 95 pence.
- msandford 11y ago
  Right, I'm aware that it can't be forced on them. But from the article: "One large supermarket chain and other high street retailers, as well as a budget airline, have asked to be included in the Bristol pound scheme but were turned down, he added." If they voluntarily want to join, and they voluntarily run up large Bristol Pound balances, then they're going to have to voluntarily figure out what to do with that money in order to keep it in the local economy, since it "can't" be converted back into normal pounds. The idea isn't that you're going to hold them at gunpoint and say "INTEGRATE WITH THE LOCAL ECONOMY OR ELSE!" it's that they're going to voluntarily accept the money (by being a part of the program) and then they're going to have to figure out how to recirculate those dollars in Bristol. I'm not saying that I necessarily think this is a genius idea by any means, but if they're TRYING to be a part and being told "no", that seems contrary to the goal of "keeping money circulating in Bristol" and therefore I don't understand it.
  - dpark 11y ago
    I think those companies would lose interest pretty rapidly if told they couldn't redeem the Bristol Pounds for Sterling. But sure, you could offer those companies the option you proposed. I misunderstood and thought you were pitching that as the approach for all companies.

dpark 11y ago

You can't force it on businesses that way. It's a voluntary currency. If you make it hostile to businesses, they simply won't accept it. If you tried this, and somehow got businesses onboard, you might get some extra local economic activity. But mostly you'd just get unofficial currency exchanges popping up that buy Bristol Pounds for, e.g. 90 pence, and resell them to locals for 95 pence.

msandford 11y ago
Right, I'm aware that it can't be forced on them. But from the article: "One large supermarket chain and other high street retailers, as well as a budget airline, have asked to be included in the Bristol pound scheme but were turned down, he added." If they voluntarily want to join, and they voluntarily run up large Bristol Pound balances, then they're going to have to voluntarily figure out what to do with that money in order to keep it in the local economy, since it "can't" be converted back into normal pounds. The idea isn't that you're going to hold them at gunpoint and say "INTEGRATE WITH THE LOCAL ECONOMY OR ELSE!" it's that they're going to voluntarily accept the money (by being a part of the program) and then they're going to have to figure out how to recirculate those dollars in Bristol. I'm not saying that I necessarily think this is a genius idea by any means, but if they're TRYING to be a part and being told "no", that seems contrary to the goal of "keeping money circulating in Bristol" and therefore I don't understand it.
- dpark 11y ago
  I think those companies would lose interest pretty rapidly if told they couldn't redeem the Bristol Pounds for Sterling. But sure, you could offer those companies the option you proposed. I misunderstood and thought you were pitching that as the approach for all companies.