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What’s the Value of a Beetcoin?

Image courtesy of BeetCoin.org

Image courtesy of BeetCoin.org

Bitcoin has had a wild fluctuation in value and is now worth about $343, but how about a Beetcoin? Does it have innate, infinite value?

Slow Money, which started in 2009 is having a Gathering in Louisville, KY on November 10-12, 2014  which features “food entrepreneurs who are leading the way rebuilding local food systems, along with many renowned thought leaders in agriculture, investing, and philanthropy.” As part of Slow Money’s program they have launched a Beetcoin Campaign where they will collect the proceeds from tax-deductible contributions for use as three-year, 0% loans, given by popular vote to two of the food entrepreneurs at the Gathering.

The Slow Money Principles

From the Slow Money website: “In order to enhance food security, food safety and food access; improve nutrition and health; promote cultural, ecological and economic diversity; and accelerate the transition from an economy based on extraction and consumption to an economy based on preservation and restoration, we do hereby affirm the following Slow Money Principles:”

  1. We must bring money back down to earth.
  2. There is such a thing as money that is too fast, companies that are too big, finance that is too complex. Therefore, we must slow our money down — not all of it, of course, but enough to matter.
  3. The 20th Century was the era of Buy Low/Sell High and Wealth Now/Philanthropy Later—what one venture capitalist called “the largest legal accumulation of wealth in history.” The 21st Century will be the era of nurture capital, built around principles of carrying capacity, care of the commons, sense of place and non-violence.
  4. We must learn to invest as if food, farms and fertility mattered. We must connect investors to the places where they live, creating vital relationships and new sources of capital for small food enterprises.
  5. Let us celebrate the new generation of entrepreneurs, consumers and investors who are showing the way from Making A Killing to Making a Living.
  6. Paul Newman said, “I just happen to think that in life we need to be a little like the farmer who puts back into the soil what he takes out.”

They challenge us “recognizing the wisdom of these words, let us begin rebuilding our economy from the ground up, asking:

  • What would the world be like if we invested 50% of our assets within 50 miles of where we live?
  • What if there were a new generation of companies that gave away 50% of their profits?
  • What if there were 50% more organic matter in our soil 50 years from now?”

Does this make sense or it is just another “beet in the sky?”