AI Audio Overview [15:54]
The Earth Change Vending Machine (ECVM) is a metaphor for a permissionless interface into a set of legally-binding Tokens.
These Tokens are designed to map the goals of the GNU GPL Copyright license into the physical realm.
The GNU GPL uses Copyright to enforce Copyleft so each user gains the immaterial Sources of Production.
The ECVM uses Property Rights to enforce, well, "Propertyleft" so each user gains the material Sources of Production as Land ownership held under these terms
We first partition all real world assets (RWAs) into 4 Value Types: {Money, Land, Work, Good}.
We then define 1 legally-binding Value Token for each Value Type: {Coin, Deed, Bond, Ticket} to gain legal authority over those RWAs.
We then attempt to implement Propertyleft as a network of user-owned supply-chains where some financial values are safely canceled out.
Money - A reference to value. Money is not value!
Good - The finished outputs of production.
Work - The human inputs of production.
Land - The earthly inputs of production.
Coin - A Money with a circulating_supply set by the square_meters of Land held under these terms. (fungible)
Ticket - A unique claim on a specific kind of future Good. (semi-fungible)
Bond - A commitment to fulfill a specific kind of future Work. (semi-fungible)
Deed - A proof of a specific kind of Land ownership. (semi-fungible)
When you trade your Work for Land, the monetary wage you earn is 0.
When you own Land (hold Deeds) to own your home, the rent you pay is 0.
When you own Land (hold Deeds) and 'own' the future Work of others (hold Bond signatures), you own those future Goods without purchase, so the profit you pay is 0.
Fund
Add Land - Submit the size and price of any Land currently for sale.
This triggers the ECVM to mint size Coins and begin selling those Coins.
Buy Coins - You may trade Money for Coins to play “number go up”.
The ECVM will use this Money to buy that Land.
Build
Sign Bond - Trade 1 kind of future Work for many kinds of future Goods (Tickets).
This is the Basic Outcome described below.
Fulfill Bond - Finish your Work to earn many kinds of Land (Deeds).
This is how you incrementally gain Land ownership.
Govern
Select Tickets - Vote on which future Goods are produced.
Schedule Bonds - Modify a shared Calendar to vote when Goods are produced.
Allocate Deeds - Modify a shared Map to vote where Goods are produced.
Join Deeds - Make groups of groups, recursively, to grow organically.
Fork Deeds - Divide Land (secede from any grouping) to localize control.
The ECVM asks for the size and price of Land for sale.
The ECVM mints 1 Coin for each square-meter of Land.
The ECVM sells those Coins to buy that Land.
The ECVM asks for the future Goods you want.
The ECVM mints 1 Ticket for each future Good.
The ECVM asks for the Work required to make those Goods.
The ECVM mints 1 Bond for each kind of Work required.
The ECVM asks for the Land required to make those Goods.
The ECVM mints 1 Deed for each kind of Land required.
The ECVM offers many Tickets for each Bond signature.
The ECVM vests many ️️Deeds for each Bond fulfilled.
Like Bitcoin, Coins have no redeemable value, do not represent property ownership, bestow no rights of governance, and imply no financial return.
Each Ticket is backed by the Deeds (Land) and Bonds (Work) required for fulfillment.
Tickets are only valid when Deeds are ALLOCATED and Bonds are SIGNED.
Each Ticket has a unique time-window and conditions under when it may be redeemed.
For example, Tomato Tickets may mature in just a few months, while Avocado Tickets may not produce until many years after the seed is planted.
You may participate in the Yearly Basic Outcome Auction, but it is not required.
To begin a Basic Outcome Auction, the ECVM asks this Group of Groups for the minimum list of essential Goods they want produced over the next Year.
The ECVM mints Tickets for those requested Goods.
It mints Bonds for the required Work.
It mints Deeds for the required Land.
It finds the total_time required to fulfill all of those Bonds.
It finds time_per_user by dividing total_time_for_all_bonds by total_number_of_bonds.
It then offers all Bonds at this initial time_per_user commitment.
After 24 hours, the time_per_user is reduced for all unsigned Bonds.
These Bonds require a smaller time commitment while still receiving the same Basic Outcome.
This "spreads out" that task by requiring at least 1 other person in that group-of-groups to sign a (maybe part-time) Bond for that kind of Work.
Any Bonds left unsigned after the Coin Auction Sequence has ended must be outsourced or insourced … or something must be done, else that parcel of Land cannot be occupied and production cannot begin.
The kind of Deeds you earn are based on the kind of Tickets you select, and have nothing to do with the kind of Bonds you complete.
For example, if you select Tickets for Milk and Honey, you earn Deeds for Cattle and Bees even while fulfilling a Plumbing Bond.
The kind of Bond you sign must have a trade-connection with all the workers who signed Bonds to fulfill the Tickets you selected.
This should always be true for Bonds signed to fulfill the Tickets of a Basic Outcome.
The amount of Land you earn for the amount of Work you do (your Land/Work earnings ratio) is based on:
The market price of the Land you select, divided-by the market price of the Work you complete. BUGBUG: This is partly wrong, since the market price of Land and Work are both partly wrong.
Your Land/Work earnings ratio decreases as your Land holdings increase to ensure all “late” users have a chance to own Land.
You hold Land (as Deeds), and the future Work of others (as Bond signatures) to own and govern the production of future Goods (as redeemable Tickets).
You may sell Deeds for Money.
The ECVM cannot sell Deeds for Money.
You may sell Goods or Tickets for Money.
Profit-Sharing Requirements:
To fulfill the CopyLeft pattern of "each user must gain access to their own copy of the Sources of production", some % of profit MUST be dedicated to ensuring the user who paid profit gains Deeds of Land ownership.
The minimum % required is "any amount above zero".
Each user (payer) must receive those UNALLOCATED and UNVESTED Deeds immediately, as part of the usual purchase receipt.
The primary purpose of this requirement is to advertise the system to the outsiders who are buying surplus.
The ECVM cannot sell Goods for Money because the ECVM never owns any Goods.
While the ECVM does hold Land temporarily, as it slowly vests to users, the future Goods produced on that Land belong to Ticket holders who either:
Signed a Bond for a Basic Outcome.
Bought Tickets to redeem for Product (like rewards-based crowdfunding).
Bought Tickets to redeem for Profit (like equity-based crowdfunding).
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