Remember, if discussing lifehours that they are like airline frequent flyer mile credits. The more people who have them, the more valuable they are. And, we do have a lifehour trading module by which people can buy non-lifehour products with lifehours.

Bitcoin is an internet currency created out of thin air with no backing except the gullibility of the second-generation users. The first generation are de facto counterfeiters, that is, having a currency which was not based on the value of their problem-solving current time. As detailed in my book, Currency: Symbols or Substance, if a symbol of people's time is divorced from the substance, then you will have a lot of theft in an economic system from the workers to the paper players.

While many benefit from the Central Banks and IMF creating money out of thin air, a percentage of this creation does go to the problem-solver rather than just the paper-playing bureaucrats or speculators. With bitcoin, the originators get oodles of wealth from others by having originated an internet currency that is, like central bank money creation, nothing more than a few keystrokes resulting in digital inflation.

At the beginning of rolling out timism, many early timism supporters will get overpaid in their acquisition of lifehours via homesteading. However, like the various US homesteading acts beginning with the 1789 Northwest Ordinance Act, the homesteader of lifehours like the homesteaders of cheap land will build a viable economic system that will warrant the initial encouragement of free land or free lifehours.

More to the point, I believe it will cost $10 to $15 billion in lifehour creation to homestead the global, national, state and local political offices. Important to note is how the lifehours are specific to the nation. While I think the US should (and thru timism it is to a great degree) underwrite the exporting and creation of better democracy, in the end it will be each nation paying off the lifehour promissory notes in order to have the highest form of human productivity, optimal democracy for optimal problem-solving by a nation's population. (Besides, Votetime software wil save the US government $10-$15 billion in new voting machines which does not include the foreign cost savings of better voting from cheap thrown-away old computers and scanners.)

So, lifehours are not bitcoins. They are better. In the end they will pay for themselves many times over as the US farmlands sold for a dollar an acre (with five years to payoff) created the greatest breadbasket of the world, the US Midwest. Too bad it has helped fuel overpopulation which is killing life on earth.

These thoughts arose as I was working on Homesteading. I believe they will help you as we move into the marketing and defense of timism, brainbees, lifehours and homesteading. Any feedback or questions appreciated.