On this page we transcribe and summarise the audio below.
https://transcript.myth.garden/assets/forty-two-hours/forty-two-hours.wav Forty Two Hours
# Summary
The Hitchhiker's Community presents a compelling concept of a pledge system, wherein members are invited to invest 42 hours of their time annually into the community. This time can be donated directly or, in the event that a member lacks the time, they can contribute monetarily. We call this investment of time into a community project Energy Gifting.
The suggested amount is equivalent to the value of 42 hours at minimum wage - a much larger sum than the previously proposed annual subscription of £42. This notion of "pledge banking" represents a dynamic exchange of time and money, where one can compensate for the lack of the other, keeping the spirit of community contribution alive.
The community also proposes a unique approach to determining a fair rate per hour, wherein members may disclose their annual income upon joining and have this divided by a reasonable annual work time to calculate an hourly rate. This adjusts to the individual member's circumstances, and in the absence of such information, a minimum payment is set based on the living wage of the member's region.
These rules apply to the pledge of 42 hours, to be paid back in cash or time throughout the year. In addition, the community’s governance game uses these tokens, which can be earned, gambled, or invested in projects. This mutual credit currency system is backed by members' pledges, blending time and money into a unified currency for the community, all aimed at supporting purpose-driven projects endorsed by the Hitchhiker's Community.
# Tidied Transcript
This discussion focuses on the application of a pledging system within the Hitchhiker's community, particularly in the Hitchhiker's Governance Game. We're examining how community members can subscribe, gift, or donate to the Hitchhiker's Commons. The proposal is for individuals to invest 42 hours of their time. While there have been suggestions for a £42 annual subscription, we're considering a more significant contribution. Based on the minimum wage, 42 hours equates roughly to £420, or about $20 a month. However, the spirit of Hitchhikers encourages the use of time as a resource, allowing individuals without financial means to contribute. Similarly, those unable to donate time can contribute financially. This is the essence of the pledge bank concept, pledging 42 hours. If you can't or don't want to fulfil the 42-hour pledge, you agree to pay for your pledge at an adjusted fair rate per hour. There are several ways to implement this. One approach, upon being introduced to the community, allows individuals to disclose their average annual salary or income. This is then divided by a reasonable annual work time to calculate an hourly rate. Consequently, those with higher incomes, such as billionaires, lawyers, or CEOs, might contribute hundreds of pounds per hour. For those who don't share their income information and depending on their club affiliation, we have the 42 Fish Club. The minimum contribution is based on the minimum or living wage for the specific region you're from. If you're from South America, Central Africa, India, Tokyo or Switzerland, your living wage differs. Payments are made in denominations of your regional living wage per hour. For instance, if the living wage in the UK is around 15 or 20 pounds per hour, and you pledge 42 hours but can only invest 22 or 32 hours, you're then 10 hours short. You would need to pay in cash 10 times the minimum wage in your country, or £200. Each month, you can pay approximately two or three hours a month, or 36 hours annually. The remaining six hours can be paid as half an hour monthly. Therefore, you should contribute roughly three and a half hours every month, either in cash or in time. This is your subscription and part of your pledge. You receive tokens, used in the governance game, allowing you to participate in various activities. These activities include earning AI-based tokens and participating in challenges where you can gamble your tokens. For example, if you're dared in the game to achieve world peace, you can pledge 100 hours. If you only have 10 hours left from your original pledge, you need to make an additional pledge of 90 hours. This is part of the game, or you can win 100 hours from other players and devote it to a particular project, such as a world peace project. We intend to establish a mutual credit currency, backed by pledges. If you fail to fulfil your pledges in terms of time invested in projects, you have to replace that with cash. This not-for-profit donation strategy is designed to allocate cash and pledged time to purpose-driven projects endorsed by the Hitchhiker's Guide Community. This is the fundamental concept of the game currency and the 42-hour annual pledge or subscription to the Hitchhiker's Community.
# Keywords Hitchhiker's Community, pledge system, 42 hours, minimum wage, annual income, pledge banking, fair rate per hour, living wage, mutual credit currency, governance game, purpose-driven projects, tokens
# Graph
digraph { layout=fdp; "Hitchhiker's Community" -> "pledge system"; "Hitchhiker's Community" -> "governance game"; "pledge system" -> "42 hours"; "pledge system" -> "pledge banking"; "42 hours" -> "minimum wage"; "42 hours" -> "annual income"; "minimum wage" -> "fair rate per hour"; "annual income" -> "fair rate per hour"; "fair rate per hour" -> "living wage"; "living wage" -> "mutual credit currency"; "mutual credit currency" -> "tokens"; "tokens" -> "governance game"; "governance game" -> "purpose-driven projects"; "purpose-driven projects" -> "Hitchhiker's Community"; }
# Assets
forty-two-hours
# See also