As an rCredits member, you get incentive rewards ("rCredits") whenever you buy or sell something through the rCredits system. You get $20r for signing up and a 10% reward on whatever you buy or sell (decreasing gradually). You also get a monthly "inflation adjustment" to offset the shrinking value of the US Dollar. Spend these rewards at any participating business. The rewards are yours to keep once your rCredits community declares itself a stable self-governing Common Good Community. Meanwhile you can borrow them interest-free.
These rewards are a form of community currency, issued and managed by your local community. They are issued automatically as incentive rewards, but a self-governing Common Good Community can also issue them more deliberately as investments, grants, and strategic incentives (for example to subsidize buying local organic food or renewable energy).
Many community currency systems have failed because the currency got stuck somewhere. Popular businesses couldn't find anywhere to spend their currency, so they dropped out, beginning a chain reaction of successive failures. How does the rCredits system avoid this pitfall? In particular, what if you get more rCredits than you can spend?
In the rCredits system, some members may receive more rCredits than they can spend. On the other hand, some members want more rCredits than they receive as payment. Members with excess rCredits simply move funds to their bank account (or trade for cash). Members who want more rCredits simply bring funds in from their bank account (or trade cash for them). US Dollars and rCredits are thus exchanged easily between these two groups, as needed, to keep the rCredits moving. So rCredits can never get stuck anywhere as long as some people want more rCredits than they have — that is, as long as there is a "demand" for rCredits. We issue rCredits carefully, and only when there is a demand, to be sure there is always a demand for more.
You can cash out rCredits you receive as payment for your goods or services, but you cannot cash out your incentive rewards. You can only spend them — as a community currency, they must continue to circulate in the community.
The simple answer is: as many as we "want"; that is, the total of how many we want to have and use, each for our own individual purposes. For example, if I have only $100r in my rCredits account, but I want to buy $200 worth of something at a participating store, then I want to exchange $100us for another $100r, so I can get more incentive rewards. Add up these amounts for all the current members and we know how many rCredits are wanted (the total "demand" for rCredits).
How many rCredits we can create depends on the demand for them. The demand, in turn, depends on the amount of wanted goods and services offered by members. The more members, the more goods and services are offered, so the more rCredits we can issue. The amount we can issue may be higher still, based on how many rCredits people want to hold as savings for future expenses, and how much new productivity rCredits funding enables.
If you want more rCredits, trade US Dollars for them at a participating business or transfer some money from your bank account (on the Bank page in your rCredits account). If you need the money elsewhere, transfer it to your bank account or trade someone rCredits for cash.
Funds in your rCredits account never lose value, because you get an "inflation adjustment" once a month (currently 5% APR). You may find it convenient to set a target balance (in the Bank Info section of your account settings) so that when you buy something and your rCredits account balance goes below your target, funds will be transferred from your bank account automatically. This lets you use your rCard just like a debit card.Community Funding »