This might be a good time to clarify the monetary design behind Circles, as many people are confused about how it's supposed to work. 1. Circles is not based on scarcity: it does not have a limited amount of tokens (e.g. 21million) that will be issued at any point in time.
3.Circles is issued equally in time and in space, similarly to our friends at @duniter Every person in the circles system currently receives 8 circles a day, with an inflation rate of 7% each year. This is meant to incentivse circulation within the system, instead of accumulation
3. Every person in the Circles system issues their own personal or mutual currencies, where trust flows the opposite way of money. If you trust somebody, it means you are willing to accept their promises as real. We therefore encourage communities to use it and exchange.
4. For money to work, it has to be both personal and impersonal. If I want to exchange my circles to buy bread at the local bakery but I don't know the baker, I could potentially still spend circles with her -through- my friends who do. Hence the importance of trust!
5. This might sound strange if you've never heard of other forms of money before. Here's a great example of the good work our friends at @Sardexnet do in Sardinia, showing how alternative money systems work in practice
6. Circles is meant to be a decentralized project. But decentralisation alone does not mean much. We encourage relocalization, sustainability and federated ways of scaling up a new democratic economy. Soon, communites will be able to deploy their own local instance of Circles.
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