[GNC] Crypto trade directly - not converting to local currency first

[Michael or Penny Novack]

On 5/23/2022 6:26 AM, Mattia Rizzolo wrote:

> Realistically, if you are in situation where you want (and can!) treat
> cryptos as full currencies, you'll likely be better served by abusing
> another random currency in the list of known currencies and treat it as
> btc/eth.   See:

Gnucash or other applications can be used exactly this was if the 
bookkeeping is for a "currency" that is not subject to exchange to other 
currencies (or not supposed to be exchanged)

Are there any folks in Ithaca NY using gnucash to track the local 
"currency"? << or in the other places where a "local currency" is in use 
 >> For those who don;t know what I am talking about, the "Ithaca Hour" 
is a work exchange currency. Nominally pegged at $10/US but there is not 
supposed to be currency exchange << is there a "black market" exchange 
rate? >>

If no exchange is taking place, using any of the currency symbols not 
otherwise needed makes perfect sense to me and is not serious ":abuse". 
The meaning of ANY symbol is convention.

Since I asked about Ithaca, how about anybody here from Yap? There are 
also "ceremonial currencies" in other parts of the world. This is 
"money" used only for very specific/special exchanges. It might be 
possible to buy or sell for some other currency but this would be 
frowned upon -- normally acquired or expended in the exchanges for which 
meant. You should best think of them as "placeholders" for the special 
things they are exchanged for, land, women, etc.

The "Ithaca Hour" was supposed to be exchanged for somebody's time, 
treating everybody's time as of equal value. Again I have no idea what 
sort of "black market' unequal exchange might be taking place. The only 
place I ever visited that had a non-currency exchange going on there was 
no physical currency to mark the amount of time or things owed, just 
kept in people's heads << very small back of the beyond community >> 
They assured me that the place wasn't as poor as it appeared "on the 
books" because so much of their local economy wasn't in measured currency.

Michael D Novack