Peer-to-peer lending (also known as person-to-person lending, peer-to-peer investing, and social lending; abbreviated frequently as P2P lending) is the practice of lending money to unrelated individuals, or "peers", without going through a traditional financial intermediary such as a bank or other traditional financial institution. This lending takes place online on peer-to-peer lending companies' websites using various different lending platforms and credit checking tools. Overview The interest rates are set by lenders who compete for the lowest rate on the reverse auction model, or are fixed by the intermediary company on the basis of an analysis of the borrower's credit. Borrowers assessed as having a higher risk of default are assigned higher rates. Lenders mitigate the individual risk that borrowers will not pay back the money they received by choosing which borrowers to lend to, and mitigate total risk by diversifying their investments among different borrowers.
Related: Sharing/Open source
Time bankingTime banking is a pattern of reciprocal service exchange that uses units of time as currency. It is an example of a complementary monetary system. A time bank, also known as a service exchange, is a community that practices time banking. Origins and philosophy According to Edgar S. As a philosophy, time banking also known as Time Trade is founded upon five principles, known as Time Banking's Core Values: Everyone is an assetSome work is beyond a monetary priceReciprocity in helpingSocial networks are necessaryA respect for all human beings Ideally, time banking builds community. [the time bank] involves everybody coming together as a community . . . the Gorbals has never—not for a long time—had a lot of community spirit. Time banking and the time bank Time Bank members earn credit in Time Dollars for each hour they spend helping other members of the community. Example services offered by Time Bank members The time dollar Criticisms Dr. North America
Peer-to-peer rentingPeer-to-peer renting refers to the process of an individual renting an owned good, service, or property to another individual. It is also referred to as Person-to-Person rental, P2P renting, Collaborative Consumption, the sharing economy and Product Service System. The term is mainly used to describe online enabled rental transactions between individuals. Individuals have been renting from each other for decades, particularly in the real estate domain, however, with the Internet acting as a facilitator, there is a growing trend of websites that offer to facilitate peer-to-peer rental transactions. The term Peer-to-peer renting is inspired from the computer networking term Peer-to-peer, which allows cumulative network bandwidth through direct and multiple connectivity between users. Peer-to-peer renting services and Platforms are usually online marketplaces connecting individuals and enabling rental transactions between them. See also Notes and references External links
Jeffrey Tucker: Bitcoin Makes The Dollar Look Like A DinosaurDog Boarding Just Got Awesome! | DogVacayCollaborative consumptionA sharing economy takes a variety of forms, often leveraging information technology to empower individuals, corporations, non-profits and government with information that enables distribution, sharing and reuse of excess capacity in goods and services. A common premise is that when information about goods is shared (typically via an online marketplace), the value of those goods may increase, for the business, for individuals, and for the community. Collaborative consumption as a phenomenon is a class of economic arrangements in which participants share access to products or services, rather than having individual ownership. The collaborative consumption model is used in marketplaces such as eBay, Craigslist, Tradepal and Krrb, emerging sectors such as social lending, peer-to-peer accommodation, peer-to-peer travel experiences, peer-to-peer task assignments or travel advising, car sharing or commute-bus sharing. Scope Types of collaborative consumption History
AF Bitcoins | Bitcoins charts and analysisWeCar - Car Sharing Programs for Business, University and Individual UseCollaborative ConsumptionGold in them bits: Inside the world’s most mysterious Bitcoin mining companyThis is the first in a two-part series exploring Butterfly Labs and its lineup of dedicated Bitcoin-mining hardware. In part one, we look at the company and the experiences customers have had with it. In part two, to be published on June 29, we share our experiences running a Bitcoin miner for a couple weeks. Spoiler alert: we made money. The more I dig into Bitcoin, the stranger it gets. There’s gray-market online gambling and Russian-operated futures markets—to say nothing of the virtual currency’s wild ride over the last several months. While reporting on a Bitcoin-based gambling story earlier this year, I interviewed Bryan Micon, who works with a Bitcoin-based poker site called Seals With Clubs. His latest target is Butterfly Labs (BFL), a US-based company that makes ASIC-based Bitcoin miners. New orders for the next-generation machines flooded in. BFL initially estimated a ship date of late November 2012, but the deadline passed and the ASIC machines didn't appear. The bet
Task & Errand Service By Awesome, Trustworthy People | TaskRabbitDefining P2P as the relational dynamic of distributed networks2.1.A. Defining P2P as the relational dynamic of distributed networks Alexander Galloway in his book Protocol makes an important and clear distinction between centralized networks (with one central hub where everything must pass and be authorized, as in the old telephone switching systems), decentralized systems, with more than one center, but these subcenters still being authorative (such as the airport system in the U.S. centered around hubs where planes must pass through), from distributed systems, where hubs may exist, but are not obligatory (such as the internet). So: what is peer to peer? P2P processes are not structureless, but are characterized by dynamic and changing structures which adapt themselves to phase changes. P2P is a network, not a pyramidal hierarchy (though it may have elements of it); it is 'distributed', though it may have elements of hierarchy, centralization and 'decentralization'; intelligence is not located at any center, but everywhere within the system.
Germany recognizes Bitcoin as a “private money,” subject to capital gains taxIn response to a query by a member of parliament, the German Finance Ministry has declared (Google Translate) that it accepts bitcoins as a “unit of account.” The Ministry added that bitcoins are a sort of “private money” and that mining bitcoins constitutes “private money creation.” The Ministry also clarified that if a German taxpayer holds bitcoins for more than a year, she is exempt from paying the 25 percent capital gains tax. Such a tax would ordinarily be paid after profiting from the sale of a stock, bond, or other security. How would the Finance Ministry even know if a taxpayer holds bitcoins? The German lawmaker, Frank Schäffler—a member of the Free Democratic Party (FDP), a pro-business, center-right party—wrote on Twitter that famed Austrian economist Friedrich Hayek would be happy with this decision.