Bits - The Unix and Linux Forums (Experimental) Virtual Currency


 
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# 1  
Old 05-20-2009
Bits - The Unix and Linux Forums (Experimental) Virtual Currency

Hello. I've searched the site but can't find a link to what the "Bits" and "bank account" is on my user profile. Can someone link me or briefly explain?
# 2  
Old 05-21-2009
ITs www.unix.com 1 bit = 1 vbCredit- a feature for vbulletin forums.

www.unix.com - Ultimate Points System - vBulletin.org Forum.
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# 3  
Old 05-21-2009
Quote:
Originally Posted by candlejack
Hello. I've searched the site but can't find a link to what the "Bits" and "bank account" is on my user profile. Can someone link me or briefly explain?
Bits are virtual currency for this site, similar to Linden dollars on Second Life and other virtual worlds (but far less developed at this time).

Your Bits increase by participating in the forums, for example by posting, creating a thread, voting on a poll, being a moderator or admin, etc. I will post the details on Bits crediting soon.

You can also get Bits from other forum members who give them to you, for example, if someone likes your reply they can give you Bits. You can give Bits to others for any reason.

You can can also spend your Bits on lottery tickets and try to win jackpots and gain more Bits.

In the future, can also spend your Bits on tangible goods and services on this site. For example, you should be able to pay Bits to the Central Bank to have infractions removed, or pay Bits for special other services. More on this later. This is an uncharted "new economy" so be creative. If you have questions, just ask, we will make up an answer if we don't have one :-)

For now, I encourge you to have fun with your Bits and give them to your friends for any reason you choose :-)
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# 4  
Old 05-21-2009
Question The bank function

Can the banking function be explained?
Why move checking <-> savings?

I am not familiar with this concept of points here.
Thanks.
# 5  
Old 05-21-2009
Quote:
Originally Posted by joeyg
Can the banking function be explained?
Why move checking <-> savings?
Savings accounts pay interest, current around 0.50% interest every 30 days, which is approximately 6% per year.

Checking accounts do not pay interest and are where you are paid (receive and send) Bits from system activity (posting, moderating, creating threads, voting on polls, etc.) and from Bits received/sent from/to other members.
# 6  
Old 05-22-2009
Here is an idea: collective funding a pot for a charitable cause. For this to be set up it is best to list 10 charitable causes (regulated of course) and for which users can give their bits and have these sponsored through the real economy.
# 7  
Old 05-22-2009
Quote:
Originally Posted by figaro
Here is an idea: collective funding a pot for a charitable cause. For this to be set up it is best to list 10 charitable causes (regulated of course) and for which users can give their bits and have these sponsored through the real economy.
Hi figaro,

That is a good idea.

We are not yet ready for the "real economy" as the system need to mature. There is no basis to provide value between Bits and real currency at this time and would need considerable more work and participation to establish the Bit as a cyber currency.

We only released the Bit as a virtual currency a few days ago Smilie
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