Minuto - Cash

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Minuto Cash

en:introduction

Minuto Introduction

Imagine there is no money and you would have to think for yourself how to exchange services or goods with other people fairly and efficiently. Since the direct exchange of goods and services without money is very impractical, you would have to think about a means of exchange (money) and how it could work. After a while, perhaps one would come to realize that the length of time it takes to make something or the time it takes to provide a service is a fairly reasonable measure to determine the value of something. Perhaps one would also come to realize that something only costs money if a person has spent his or her time doing something and has made it available to someone else. Thus, the realization is that money is really just time, and human working time at that. Now it needs only a simple solution, how one could use simply everywhere and uncomplicated working time as exchange means and/or money. This is exactly where the Minuto concept comes into play.

Minuto – A time voucher

Minuto Meeting

The basic idea behind Minuto is that people issue each other vouchers for their time (qualitative working time). To start, a group of people get together to make these Minuto vouchers. There is a template for the vouchers to print out. Everybody who wants to create his own Minuto vouchers needs besides the template, a pen to sign, his own stamp, as well as a female and male guarantor, who confirm his own vouchers again with stamp and signature.
These finished Minuto one can use then similarly like cash for the payment. The person who has accepted the Minuto can spend them everywhere where Minuto are accepted, until they go back to the creator of the vouchers (voucher creator).\ To support the idea, not everyone needs to create new minuto, it is enough to accept them and use them for payment.

How to create Minuto correctly?

Structure of a Minuto voucher

Of course, to get started, you need a few people to create and spend Minuto so that others who don't want to create one can join in. There are 6 vouchers on the printed template. A voucher consists of the following areas.
Nominal value: Field (1) shows the value in minutes of qualitative performance of human working time.
Validity: In field (2) one enters the last year of validity of the voucher. New minuto are valid for 5 years. (E.g. Minuto from 2020 are valid until 2025. (current year + 5)). Important: Own Minuto, which are valid less than 3 years, may not be spent and must be destroyed. Only minuto from others may then still be passed on until they come to their creator, who then may not spend them again and destroys them himself.
Region: To quickly identify where the minuto comes from, enter the region (zip code recommended) where the voucher creator comes from in field (3).
Voucher creator: The person who gives out the voucher stamps and confirms with date and signature in field (4).
Guarantor: One female and one male guarantor stamps and signs with date and signature under (5) and (6) respectively.

What do I need to know if I want to accept Minuto?

You have to decide from which regions you accept Minuto. In their region of origin, they can be spent best. The further away, the more difficult. Furthermore, minuto that you accept should be valid long enough so that you can still spend them at your leisure. The rest of the fields should also be checked for completeness. (3 times each stamp, date and signature of the issuer & guarantor as well as region and last year of validity).
If valid Minuto vouchers still appear to be untrustworthy, they do not have to be accepted. The concept is based on trust and voluntariness.

Exchange rate

Minuto vouchers are based on qualitative human working time, therefore they are stable in value during the validity period. The conversion rate, may vary depending on the region and may also change, for example, due to inflation of the legal currency. The price of a craftsman hour is a rough guide to determine the conversion rate. Recommended conversion rate: 60 minuto = 30€ (as of 2021).

Business use / Taxes

For business use, you need the conversion rate. At the above rate, if for example 60 minuto are received, then this corresponds to a taxable cash income of 30€. If these 60 minuto are spent again, this corresponds also again to an expenditure of 30€.
It can make sense to accept only a percentage in minuto, so that enough euros are taken in to be able to pay expenses, taxes, etc.

Where do I find offers?

Minuto is a decentralized and self-responsible concept, so you should actively network locally even without the Internet. Of course, modern means of communication can also be used. A central possibility for offers and requests is currently located at: www.minuto-regional.de

Isn't it all too elaborate and complicated?

Often at the beginning the argument comes that the thing with the guarantors and the effort to create valid Minuto is too complicated. At the first moment it may seem so, however, a distinction must be made between the use and the creation of Minuto vouchers. The creation of new Minuto is somewhat complex, but the use is very simple and not everyone has to create Minuto to participate.

Use of Minuto

If you have valid Minuto coupons, using them is very easy. You just need to know what valid Minuto looks like and then use it just like cash. The only difference is that this cash is only accepted in certain places or only in the region and that they have a certain conversion rate for business use.

Minuto creation

Most questions arise at the beginning when new Minuto vouchers are created, but this is also due to our education system, as we do not learn at school how money is created (money creation) and disappears again. Because exactly these questions arise when minuto are created and this process often causes confusion. For example, if we were to know that when we take out a loan, new money is created out of nothing and disappears again when we pay back the loan, then this process would be nothing special for most people. With Minuto the two guarantors take over the function of a bank, because with the signature and stamp the guarantors confirm that the publisher / creator of the Minuto is trustworthy and can also provide a service. Therefore, this process must also be somewhat more elaborate to ensure the security. With a normal loan, the bank wants to have additional collateral, the creditworthiness must be determined, etc. and even very high fees are charged for this in the form of interest and this process is much more elaborate and complicated than the creation of Minuto vouchers.

Discussion

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en/introduction.txt · Last modified: 2022/05/26 17:04 by david