
"With an 'AustinCoin', we have the opportunity to level the playing field for building wealth, while simultaneously improving quality of life for all in our community. No one can take advantage of anyone else's labor, nor can anyone detract from the community's abundance."
How to get AustinCoins
Spectators/Investors
1/3 of coins will be traded on an open exchange during select annual trading windows. Coins will increase in value in conjunction with the success of our Community Projects. This investment is more secure and stable than majority of cryptocurrencies, since the value of the AustinCoin is backed by the labor, land, and production capacity of Austin and our people-owned network of Contributionism projects. Simply put, when people are thriving, the coin increases in value. This would be the first cryptocurrency to be based on quality of human experience.
Contributors
1/3 of coins will be allocated to Locals only, where a single Coin is awarded every time someone contributes a time segment (3-5 hours) to one of our officially designated Community Projects. These coins can be saved or later sold on the exchange during trading windows, as the value of coin appreciates over time. The time segment of each contribution to earn AustinCoins will remain constant; however, the value of Local's labor can be converted into an increasing amount of US Dollars, should the market increase the value of the coins exchange value.

City Hall/Contributionism Projects Dept.
1/3 of coins will awarded to the city budget each time a Contributionism time segment is awarded to a Local Contributor. The City can sell these coins on the exchange for USD to raise capital for investing in new Community Projects. Assuming the exchange rate continually rises given high Local participation and high production output of projects, this could dramatically increase city revenue and potentially replace and/or eliminate the need for traditional taxation.
Use-Case Examples
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Local Resident works one time segment on an Organic Farm each weekend. They receive free food from the farm, free electricity, and the bounty of the entire network of Contributionism Community Projects as a result of their efforts towards the greater good of all in their community. This is a beautiful reward, as they save money, eat healthier, and also connect with new friends while contributing on the weekend. In addition to this, they receive (1) AustinCoin each time they log a time segment at the Organic Farm. Over the course of one year, they have earned 52 AustinCoins, and have them saved in their secure blockchain based wallet. Their friend reminds them that they can sell the coins on the exchange for US Dollars, so they login to check the exchange price, which is $10 USD for every 1 AustinCoin. This is exciting, since by not only saving money and benefiting all in their community, they now can sell their coins on the open exchange and receive $520. However, they have had a great year financially and decide to hold on to them until next year. Another year passes, and this time they have logged an additional 65 time segments, increasing their AustinCoin total to 117 AustinCoins. They log back into the exchange to check the conversion price, since they want to take their family on a long-vacation to Hawaii, and also want to purchase materials for a home renovation. To their pleasant surprise, the exchange value has now increased to $100 USD for each 1 AustinCoin. Wow! Now they choose to sell all 117 AustinCoins on the open exchange for USD, and they receive $11,700! This money pays for their entire vacation and pays for the materials needed for their home renovation. Now, with each contribution time segment they contribute, they feel inspired and gratified, since they essentially earn $100 for every 3-5 hours worked on the weekend, while still getting free food and free electricity. Who knows, someday, if they convince more of their friends to join, create, and contribute to more expanded community projects, the coin could someday be worth $10,000 per coin, all for each 3-5 hour time segment!
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Cryptocurrency Investor lives in Portland, Oregon, but has visited Austin many times for SXSW, ACL, and other special occasions. They love Austin very much, and have made many friends locally. They believe in the soul of Austin, which is why they become incredibly excited when it is announced that Austin will create the AustinCoin and make a certain number of coins available on the open exchange during their ICO for $1 per coin. After reading more about Contributionism and the vision behind Austin's plan for Community Projects, and the philanthropic nature of the strategy to achieve abundance and vitality for all people, they invest immediately, purchasing 200 AustinCoins. After two years of sitting on their investment, the exchange value of AustinCoin has risen to $100 per coin, making their original investment of $200 now worth $20,000. They decide to invest in more AustinCoins, since it appears the abundance and quality of life for people in Austin seems to going nowhere but up! Now there are 250,000 regular contributors to organic farms, pollution clean up efforts, eco-village construction for homeless and indigent, and many more craft-based projects where goods created are distributed freely to all local contributors and then sold on the open international market. Austin appears to have tapped into a previously unknown gold-mine of a sharing and cooperation based economy, where everyone benefits and everyone is given equitable access to build wealth and improve their quality of life. After 10 years, the AustinCoin is now worth $24,000 per coin, making their original $200 investment worth an outstanding $4,800,000 !!! The quality of life has now made them a millionaire. Of course, they are already used to this, since they also had similar success with Bitcoin in previous years, except the major difference here is that they know their investment went directly to improving people's quality of life in an equitable and ecologically responsible way.
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The City of Austin created a collaborative office with the people called Contributionism Community Projects Office, which oversees the creation, development, management, oversight, and expansion of the Contributionism network of participating people-owned businesses. This office, the CCPO, is awarded an AustinCoin every time a contribution time segment is logged by a local. Initially in the first year of projects, which only included community organic farming, trash clean up, and eco-village construction, the CCPO logged an average of 15,000 AustinCoins per week, totaling to 780,000 AustinCoins. In this scenario, the exchange rate to USD at the end of the fiscal year was $0.036 USD per 1 AustinCoin. At the end of each fiscal year, a trading window opens for AustinCoins on the open market, so the CCPO decides to test out what impact selling all AustinCoins would have. The fiscal year started at an exchange rate of $0.009 USD per 1 AustinCoin, and ended at $0.036 USD per 1 AustinCoin, so after selling 780,000 AustinCoins, they have a total of $28,080. This was enough cover their operational expenses. Flash forward to the end of the following fiscal year, when the new trading window has opened. Now they logged an average of 84,000 contribution time segments per week, totaling to the earning of 4,368,000 AustinCoins. They again decide to sell their entire stock of coins on the exchange during this open trading window, and due to increased interest in the AustinCoin, the exchange rate has risen to $2.56 per 1 AustinCoin. After selling their entire stock, they have $11,182,080 USD. They use this money to pay back the city for their initial investment, pay their staff, cover their expenses, but they end up having $5,000,000 leftover, which they decided (with blockchain rank-choice voting input from contributing citizens) to invest this money in additional IT staff members and new equipment. The CCPO now has the means to market the system to a greater base of the city, which doesn't require much, since word-of-mouth enthusiasm is growing rapidly. New people-owned projects arise, spawning creative technology products, textiles, and various crafts, which are distributed freely to the contributing locals, but also sold to an international online market and exported around the planet. Not only do locals receive profit-sharing from these people owned businesses, but they also receive free electricity and free products. The CCPO is excited by this holistic and people-centered approach to building wealth, profits and abundance, so they decide to spend their marketing budget on encouraging other cities to develop their own coin system, as well as promote the upcoming trading window on the open exchange, so locals can sell their coins if they choose, and spectator-investors from around the world can make use of the opportunity at hand. After this fiscal year closes, the CCPO logs an average of 365,000 contribution hours per week, totaling to an earning of 18,980,000 AustinCoins. Now, in this exchange trading window, each AustinCoin is worth $56 USD. When they sell their entire stock the CCPO makes $1,062,880,000 ! After expenses, which are kept intentionally low through automation and technology advancements, they have a remaining amount still over 1 billion USD. This nearly reaches 1/3 of the City of Austin's typical budget. Given this scenario, and after 3 more successful years of selling AustinCoins on the open exchange, the City of Austin votes to eliminate the need for taxation on families and people-owned businesses. Each year, the people of Austin earn their city budget through their performance, their cooperative efforts and contributionism labor, while simultaneously producing higher quality goods for their consumption and raising the quality of life for all people. The city uses these billions to invest in sustainable infrastructure projects, such as carbon-sequestering vertical residences, advanced transportation systems, innovative health research, and even aid to other regional municipalities.
Notes
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If ALL of this is completely foreign to you, do yourself a favor and research Blockchain and Cryptocurrency.
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These scenarios are obviously speculative and based on the assumption of a high-functioning community and the cooperation of people in the Contributionism network of people-owned Community Projects.
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This is just one set of potential outcomes or design structure to the AustinCoin. There are many possibilities. The overall goal will be to benefit all people, eliminate the need for taxation while increasing social services, and ultimately creating a city full of philanthropic millionaires.
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I would only support an AustinCoin that enables ANYONE LOCAL to earn wealth through contribution to the community, and would be very strong to protect a system that resolves the issue of income inequality, NOT exacerbates it.
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I invite our most genius crypto-minded tech innovators to participate in this conversation and GET EXCITED. Just imagine the potential!
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