Frequently Asked Questions
Are the project’s currency, the pesos, like bitcoin?
No, in many ways, they are the opposite of bitcoin. Bitcoin is a speculative currency. People trade it
and make money. The project’s peso is a means of exchange. The artists ask participants to tell a
story about what they value and the VyC (automatic teller) gives them one or several bills that each
tells a story.
How is the currency’s value backed?
The value is given by the project’s participants. It has no other backing.
Is this money real?
Valor y Cambio is an art, storytelling, and community participatory project. This phase of the project
is about asking the question of what Puerto Ricans value as a society and introducing the idea of a
community currency. For the duration of the project, February 8-17, the currency will be accepted as
a dollar in participating establishments.
Can you take the project to other cities?
We have received requests to visit a number of cities –Palm Beach, Philadelphia, New York, and
Chicago. We would love to and will explore how we can expand the tour.
Are community currencies legal?
They are legal and recognized in many parts of the world, including the United States. For our
project, we studied several U.S. community currencies, including Ithaca HOURS and San Francisco
Where can we buy pesos?
In solidarity economies, people exchange products and services but do not sell them. In that spirit,
we do not plan to sell the pesos but we are considering ways that these may circulate more widely. If
you have any thoughts about how we can achieve this goal, let us know.
What is the currency’s value? Will it expire?
We set the value of the currency as 1 to 1 to the dollar. The currency will expire on February 17.
After this date, we will be reviewing the project’s narratives and experience and settle on a next step.