This is a unit of measure which most accurately measures item value. It is dynamic and constantly evolving. Its purpose is to take into account that which is the state of the art awareness of all costs involved in a given item’s creation along with all benefits derived from said item.
The LEM should eventually supplant all other forms of currency and it should be able to exist in analog and digital forms.
Much more info to come on this topic. It’s a concept I started writing about 15 years ago. I need to dust off these thoughts, clean out the cobwebs and so forth.
LEM and LEMCoin
Working Copy 100821
The Live Earth Metric will be a dynamic system of measurement utilized to gauge impact and benefit on the biosphere and the life forms which depend upon it. The LEM will be composed of many existing metrices along with those new and evolving. The LEM will be catalogued, indexed and formulated through analog means. Algorithms will be used to compute real time values though they must be daily reconfigured via analog means. In other words, people need to be involved.
LEMCoin, while beginning as a cryptocurrency in the standard sense may only be value attached via analog means resulting from daily LEM accountings. LEMCoin, in effect will be simply a natural product and logical extension of LEM, allowing for an exchange system for goods and services which is accurate in the sense it reconciles all known – thus its constantly evolving dynamic – impacts and benefits of a product and/or service.
LEMCoin will begin as a means to promote LEM. There will be a reverse configuration and computation of LEMCoin to LEM values. This will slowly revert to the point at which LEMCoin exists solely as a result of LEM. In the beginning, however, it must be the other way.
LEMCoin may operate via a blockchain but the chain will not be an energy hog because its “links” will not be a constant dragging weight. This is because they will be unlinked after every successful hashing and after analog confirmation, displayed on a public.org read only file. The only link to a previous blockchain link will be an authenticator at the nose which activates the tail of the new link before separating for analog review and read only display.
*Security? LEMCoin storage? Working on it…has to be a different take on the wallet.
*Initial assigned value(s)…it has to be based on a genesis point of LEM to make sense. And what is that genesis point? Where does something which doesn’t yet exist begin? Maybe the answer to that is first to assert LEM does exist and has existed since 2006 when I first contemplated the idea of it and gave it a moniker – Live Earth Metric. So attaching an initial value based upon the work I have done to date to develop the idea might be based on hours spent and at a going rate for this sort of work at say $225 an hour and I can only guess I have put in about say 200 hours over those years = $45,000.00. Obviously this is too much of a value for a single crypto coin thus at a logical entry point of $1.00 I would simply issue myself 45,000 coins. To raise the $45,000.00 I would propose a $2.00 buy in for every $1.00 coin until start-up and pre-development costs are covered. Much can be discussed about this funding idea. No, it is not a pyramid build out. If anything it’s an inverse pyramid.
In the end, which is really the beginning, a no-profit structure must be the basis for the entire operation. LEMCoin would have to be to Crypto at large as the Fed is to the US economy. Kind of…but better.
Value assigned daily 12 noon GMT or preferably Hawaii time since that’s where I want to be.
Funds collected in exchange for coins – LEMCoin is its own exclusive and eternal exchange – are disbursed in all crypto currencies traded on a percentage of value based. Example, $100.00 collected would be say, for the sake of simplicity…50% Bitcoin, 5% Ethereum, etc. Essentially what would be created as a holding device would be a crypto ETF. But not like BITO or other derivative offerings.
Hash security? None needed other than existing blockchain crypto. LEMCoin values exist for 24 hours – adds a stability factor built-in which does not exist in other crypto – on any piece of paper or any device screen on a daily basis and its authenticated links are on constant display as energy friendly read only files.
Incentive to gather coin is that it is comprised of everything which exists and as such will eventually supplant all others since they are but parts of the whole of LEMCoin and LEMCoin exists to complement LEM which is the big kahuna.
Also there is no “mining”. None. All journaling is done in a de-centralized location under analog review. Much more to say on that. The bottom line is that LEMCoin necessarily must be all that the other crypto’s are and more importantly what they are not.
LEM necessarily must begin using metrices it will eventually supplant. The daily analog rendering of values is the core of LEM’s dynamic nature. When I say analog, I mean people who are cataloging and indexing are also reconciling values so to create a consensus free from digital avarices which exist solely as a result of analog avarice presented through human interactions. So how then, will relying solely on the analog create a daily rendering which is free of fraud, corruption and the like?
The happy answer to that question is the people behind it all, working to create it will be free of such things for such things will have no LEM value and possibly would be assigned an ‘anti-value’. Anti-values may in fact need to be written into the computation of daily LEM values.
The basic idea behind LEM and LEMCoin is to analyze existing structures with a micro lens and develop new with a macro lens. The idea is to look outward and beyond with wide eyes. It is easy to become myopic when developing. In fact a laser focus is often critical in completing tasks designed to get from here to there. But what if we already exist “there”? What if LEM already exists and simply needs to be gathered up and held and passed around so it may grow from the touch of each mind which contemplates it?
And that is what EarthRaft is all about.