Are bitcoins and other forms of digital currency going to change how we do business forever?

We’ve seen a lot of revolutions in the last century. Political revolutions aside, I’m talking specifically about revolutions of technology—from good ol’ refrigerators to smart phones. But none may be as dramatic as the bitcoin.

The six-year old digital currency has been plagued with controversy and scandal, most notably that it’s not backed by gold or silver like our paper currency. And while it may not survive in its current iteration, it seems digital currency is our future in one form or another.

“In fact, that technology will become ever more influential as developers create newer, better versions and clones,” reports the Wall Street Journal.

“No digital currency will soon dislodge the dollar, but bitcoin is much more than a currency. It is a radically new, decentralized system for managing the way societies exchange value. It is, quite simply, one of the most powerful innovations in finance in 500 years.”

That’s a bit like imagining smart phones even before we had rotary dials in every home. The sharing economy and other alternative forms of currency aren’t exactly new concepts. So what makes bitcoin so appealing and how in the world is the bitcoin, or any version of it, going to become so valuable? Again, the Wall Street Journal:

If applied widely to the inner workings of our global economy, this model could slash trillions in financial fees; computerize much of the work done by payment processors, government property-title offices, lawyers and accountants; and create opportunities for billions of people who don’t currently have bank accounts. Great value will be created, but many jobs also will be rendered obsolete.

Of course, this isn’t going to happen overnight, and many of the obsolete jobs will most likely be transitioned out of financial institutions over decades, if not longer. So that doesn’t seem like a pressing issue in moving us towards a society largely dependent on digital currency. What’s going to be most challenging, beyond hacking attempts and other security issues inherent to the internet, is that, bitcoins exist “purely as entries in an accounting system—a transparent public ledger known as the ‘blockchain’ that records balances and transfers among special bitcoin ‘addresses,’” reports the Journal. “Owning bitcoin doesn’t mean having a digital banknote in a digital pocket; it means having a claim to a bitcoin address, with a secret password, and the right to transfer its balances to someone else.”

Digital currency can make transfers (like a purchase at your local supermarket), happen in a fraction of the time current payments process. For businesses, there are big incentives in that there are (currently) no additional processing fees common with credit card purchases.

While bitcoin is still too unstable, with values fluctuating wildly from one week to the next, developers think digital currency will become more stable over time, which will make it a more dependable and trusted form of currency in the not-so-distant future, “the rise of digital currency may be a matter of evolutionary destiny,” reports the Journal. “The Internet has disrupted and decentralized much of the world economy, but the centralized world of finance remains stuck in the 15th century. Digital currency can help it adapt and survive.”

Find Jill on Twitter @jillettinger

Related on EcoSalon

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Image: zcopley

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In modern society we have to balance pursuing our passion and fitting into societal norms. Is it possible to have it all?

In today’s society we’re sold two visions of what makes a “good” life:

1. Pursue your passion and live your dreams!

We’re taught that doing what we love is a noble cause and it’s something that we should strive for. Get a better life/work balance. Focus on our talents and creativity. Do good things for the world. Be happy. Live simply.

2. Buy a house, save for retirement and be successful!

Success is defined by money. Climb the corporate ladder, be someone’s boss, make money so you can buy a house and be sure to start a 401k as early as possible. Being busy is a good thing. You should be putting your educational degree to good use. Drive a big car, have a house with a hot tub. Be a lawyer, a doctor, be a hedge fund manager, but whatever you do, do something that commands respect.

But these two approaches to life are often in complete opposition to one another. We’re sold an American Dream that is literally unattainable without some sort of compromise, and we like to glaze right over that compromise. “You can do it all!” we’re told. But can we?

If we’re freelancing, in charge of our own schedule, and generally happy with our tiny artsy studio apartment or tiny house, we’re stressed because we don’t have a retirement plan, our friends and family give us the “are you going to grow up soon” look and we wonder if maybe we should have been smarter about putting our degree to good use. We feel guilty for leaving early for a long weekend. “Shouldn’t I have become a lawyer by now?” you say to yourself as others around you buy houses, have babies and nest their way into domestic bliss.

But if we’re on the professional route, we work 60 hours a week, our health falls to the back burner, we’re stressed and burnt out, and despite the number of diplomas on the wall and raises in the board room we wonder, “shouldn’t I simplify and really focus on being happy in my life?”

If you have ever doubted your path in life, you are not alone. And asking whether or not you really can have it all is a common question.

Our culture feeds us two contradicting ideals. Since we live in a world driven by consumerism, it’s no surprise that money is the definition of success, and even if all the self help books have clearly outlined the way to happiness (hint: it’s not money) it’s a nagging thought at the back of our brains that never really goes away. Why do you think people spend so much time looking at inspirational quotes on Pinterest? Here’s a reminder: an inspirational quote is only inspirational if it actually gets you to take action.

Going after happiness is about navigating these worlds, being conscious that no matter how much culture tells us to “pursue our passion” there’s always a grim reality that comes with that pursuit.

How do we create a life where we get both? We don’t. That is to say, we can have elements of both, but we must come to terms with the fact that to do so, there will be some element of compromise. We must also be hyper conscious of the societal pressures at hand. No matter how much marketing and advertising tells you that you can have it all, you can’t.

Can you have it all? No. Because no matter what we do, there will always be a compromise, but it is learning to appreciate and understand that compromise that helps us to live better. We give up one thing and get another in return. We do a cost-benefit analysis.

We can do one thing and that is to live consciously. Make decisions that make sense for us individually. Sometimes that means dropping everything and moving to Mexico to become a yoga instructor. Sometimes that means taking a 9 to 5 office job and not having the flexibility to travel when you want. It’s up to you to weigh the pros and cons of each. There is a daily reality to both worlds, difficult moments and wonderful ones. But determine what your own dream is, don’t live someone else’s.

Life is meant for living, but it’s also about finding a balance. One that you and only you alone can determine. Define your own success and happiness, whatever that is.

Related on EcoSalon

The New American Dream: 7 New Definitions of Success

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Image: martinak15

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Does money give you pleasure?

Some people will drive a mile out of their way to save a buck. Some of us have it delivered. The “value of a dollar” depends on the spender. The value you place on money is hugely driven by emotion. Behind every dollar you spend, there’s an emotion attached to it. Get clear on the emotional driver, and you get clear on your relationship to prosperity.

Before you reach for your wallet or click on “Buy,” ask yourself, Is this going to give me pleasure — AND peace? You know those panicky purchases when you buy something to look cool or impress someone? You’re putting down your credit card and you feel all cagey and unsettled? Extreme example: my friend bought a Lexus… for her high-school reunion. “I drove off the car lot and felt sick to my stomach.” The ego-fix didn’t add to her well of inner peace. She sold the Lexus and got a car she could afford. Pleasure and peace.

Ask yourself: Is this going to help me get the results that I’m aiming for?When you’re focused on creating an amazing future, you tend to value the present more. Is the dress, the motorcycle, the trip, bringing you closer to your dreams or tugging you off course?

Does this purchase help other people somehow — including the people I’m purchasing from? Does this support your community, your industry, anyone other than you and the retailer?

Is this going to make things easier for me, and free me up so that I can pursue more . . . pleasure? If the potential for getting pure pleasure from your spending matches up with your budget, then put your money where your pleasure is!

Danielle LaPorte is the author of  The Fire Starter Sessions: A Soulful + Practical Guide for Creating Success on Your Own Terms. An inspirational speaker, former think tank exec, and business strategist, she is the co-author of  Your Big Beautiful Book Plan. DanielleLaPorte.com is named one of the top 100 websites for women by Forbes Magazine. Find Danielle on Facebook+ Twitter @daniellelaporte + at her digital temple: DanielleLaPorte.com

Image: Philip Taylor PT

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The $524 million and counting that Mitt Romney has raised for the Presidential campaign could be used to do the things conservatives claim they want for America.

The amount of money now spent on presidential campaigns in the United States is obscene. It’s staggering. For the 2012 election between President Obama and Republican candidate Mitt Romney, there’s over a billion dollars in play. Compare that to the 1996 election between Clinton and Dole, when just over $400 million was spent all together. Both sides are increasingly dependent on ‘super PACs’: political action committees funded by donors whose identities often remain hidden from the public. Because after all, according to the Supreme Court, corporations are now people, giving the country’s most profitable industries an even tighter grip on the political process.

But what if, instead of funding attack ads and smear campaigns, that money went toward the things that each candidate’s backers actually claim to support – for example, in Romney’s case, bringing jobs back to America, raising future entrepreneurs and reducing the incidence of abortion? Let’s take a look at how the $524 million raised thus far by Mitt Romney’s supporters could have been better spent.

Do as Jesus teaches: help the poor.

It’s safe to say that the GOP aligns itself with Biblical values. That doesn’t mean there aren’t Christian Democrats – much to the contrary – but Republicans are more vocal about it, and far more eager to blur the lines between church and state. But isn’t it kind of funny that for all of the Christianity that Republicans try to bring into politics, they almost never mention the actual teachings of Jesus? Maybe that’s because Jesus was really kind of a bleeding heart liberal, dedicating his life to helping the less fortunate.

If Mitt Romney and Co. really want to let the Bible guide their legislative decision-making, maybe they should consider what Jesus would do and give to the poor. A good portion of the $524 million wasted on TV campaigns full of lies and misdirection could provide any of the following:

1. Feed 10,480,000 children for a year. According to World Food Program USA, it can cost as little as 25 cents to provide a child with a healthy lunch.

2. Start 1,048 mobile health clinics and fund each of them for an entire year. Mobile health clinics can respond to natural disasters, and serve thousands of people living in poverty in the United States, including migrant farm workers and their families.

3. Feed 1,200 homeless New Yorkers a hot, nutritious meal and provide counseling and referral services every day for 238 years. It costs about $2.2 million a year to run New York’s Holy Apostles Soup Kitchen.

But that’s ridiculous, right?

Bring jobs back to America.

The Romney campaign has really been laying into President Obama on outsourcing American jobs, despite the fact that multi-millionaire Romney has profited handsomely from investments in companies that pioneered shipping American jobs overseas. Just over a month ago, the GOP blocked the number 1 item on President Obama’s to-do list: giving tax breaks to companies that “insource” jobs to the U.S., while eliminating deductions for companies that move jobs to other countries.

There’s an easy solution for this, but Romney’s major campaign contributors aren’t going to like it, because it would cut into their own profits. Imagine if the corporations that have donated to Romney used that money to start bringing back some of their own outsourced jobs. Some of the corporations whose owners or political action committees have donated handsomely to Romney who also ship jobs overseas include Bank of America, Wells Fargo, Citigroup and the notorious Bain.

Cut drug use with programs that actually work.

We’ve spent more than a trillion dollars on the war on drugs. Romney’s $524 million in campaign funds is obviously a drop in the bucket compared to that figure, but consider this: we could be spending far less on more effective long-term solutions. It costs nearly $25,000 to imprison one person for a year. Drug courts, in contrast, have an annual cost of just $900 to $3500 per person.

Drug courts are mandatory programs that keep drug-addicted individuals who have been charged with crimes out of jail. Participants in drug court programs are provided with intensive supervised treatment for a minimum period of one year, held accountable by a drug court judge for meeting their obligations to stay sober once they are released, and randomly tested for drug use. Drug court programs also require participants to appear in court before the judge on a regular basis for reviews of their progress.

Despite the fact that drug courts are highly effective, with 75% of adult graduates staying out of the criminal justice system after completing the program, drug courts serve just a small fraction of the estimated 1.2 million drug-addicted people currently in prison or on probation.

Prevent unwanted pregnancies, and by extension, many abortions.

Women should have the right to choose – period. No nitpicking over the circumstances of the pregnancy. No attempts to redefine or excuse rape. No questioning the extent to which a woman’s life must be in danger to justify an abortion. No questioning at all. But if Republicans want so badly to limit the number of abortions that are performed across the country each year, they should stop standing in the way of contraception and sex education. Planned Parenthood and other care providers offer crucial access to these services, potentially cutting the number of unplanned and unwanted pregnancies among their clients.

Plus, there’s the financial aspect. Conservatives like the big-money Koch Brothers (who have contributed millions to Romney’s campaign and many others) argue that cutting federal funds to Planned Parenthood makes fiscal sense, and Republicans tried to revoke all $317 million in Title X funding for family planning and preventative health services.

But in the long run, it actually costs more. As Slate’s Amanda Marcotte argued last year, patients who can no longer rely on Planned Parenthood will likely end up at other clinics that cost the government more money for the same services. If the GOP wants to save millions upon millions of dollars, they should spend that $317 million and more.

Improve public schools, educating future entrepreneurs.

Why is America falling behind in the global race for business leaders and other highly talented individuals? At its very core, American conservatism and indeed, capitalism itself is rooted in the idea that any individual can be wildly successful, if he or she works hard enough. But getting into an exclusive and increasingly pricey college is a lot easier if your family is wealthy, especially if you’re sent to private schools where you don’t have to worry about underpaid teachers, outdated textbooks and equipment and dilapidated facilities.

We could produce a lot more of the entrepreneurs that the GOP loves to trumpet – not to mention scientists, engineers, doctors and other highly skilled workers – with higher-quality public schools. The financial needs of our public school system definitely go far beyond $524 million. According to Teach for America, the nation’s major city public schools are in need of at least $15.3 billion in new construction, $46.7 billion in repair, renovation and modernization needs, and $14.4 billion in deferred maintenance needs, and that figure would multiply many times over when considering the entire nation. But it would be a start.

Pay for some of the “We Built It” state GOP projects that were actually funded by the federal government.

Seizing on a (misinterpreted) remark that President Obama made during a speech, Republicans turned “We Built It” into this summer’s GOP slogan. It’s like 2008’s “Drill Here, Drill Now,” except even more nonsensical. They took the phrase out of context to make it sound as if the President was telling business owners that they weren’t responsible for their own success. The Romney campaign immediately responded with an ad saying as much, and a number of speakers at the Republican National Convention repeated it.

The funny thing is, many of the things those speakers are so proud to have “built” were paid for by the federal government. For example, Rep. Pete Sessions of Texas praised this Congress’ record of “implementing free enterprise policies that create jobs, cutting spending and repealing Obamacare” while failing to mention that he secretly requested $81 million in stimulus money.  Vice Presidential candidate Paul Ryan called President Obama’s stimulus plan “wasteful,” but turned around and sought money from it for his own state. Instead of putting millions toward false and hypocritical attacks, perhaps conservative donors should help their party do what they claim to do and pay for their pet projects themselves.

Photo: DonkeyHotey

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Happiness: economists want to measure it, researchers want to understand it and we all want it – but is it really what we need?

Happiness is officially big business.

The chairman of the Federal Reserve believes measuring national happiness could be an effective method of tracking economic progress – maybe even as important as inflation or employment statistics. In a video presentation at a conference of economists and statisticians, Ben Bernanke argued it may be the key to understanding the country’s well-being, while being the ultimate goal of all his department’s economic decisions.

He’s far from the first to jump to this conclusion – the country of Bhutan has been tracking GNH (Gross National Happiness) since 1972, as journalist Eric Weiner explores in his hilariously grumpy travelogue The Geography of Bliss. It’s also not the first time Bernanke has mentioned happiness studies – in a May 2010 commencement speech at the University of South Carolina, Bernanke cited research suggesting that beyond a level of wealth that financed our basic needs, there was no correlation between money and happiness.

So, you’re suggesting telling this to America, right now? As Christopher Rugaber notes in his article for AP/NBC News, “you don’t need money to be happy” and it won’t go down terribly well with a nation struggling with a slumped economy and a truly terrifying amount of national debt – all this during the upheaval of a presidential election campaign. Rich people telling poorer people they don’t need money to be happy? Wince.

However, science may be on Bernanke’s side. Recently released results of 4 experiments published in the journal Psychological Science point to a lack of correlation between “socioeconomic status” and well-being, with happiness instead being driven by peer respect and admiration. In short, happiness isn’t about what we have in our pockets, it’s all about who we hang out with. (Could this be the reason for the boom in online social media at a time of global economic strife and its associated mood-dampening effects? One to ponder).

But are we in pursuit of the healthiest thing here? The so-called self-help revolution is all about nailing down a lifestyle that fills our days with joy – but is that what we truly need right now? Writer and blogger Penelope Trunk thinks we’re barking up the wrong tree. In conversation with Dan Schwabel at Forbes, she said:

…people should focus on how interesting their life is. In fact, many people already intuitively aim for interestingness rather than happiness. But they don’t have the language to describe what they are doing. They feel out of step with the rest of the country, maybe, but in fact, they are leading the path to the new American Dream. […] Engagement, fulfillment, continual learning, these are things that feel good. And they are much more attainable than the old-school version of happiness.

Could it be the key to true happiness is unfulfillment?

Further reading: Check out The Happiness Project, from #1 New York Times bestselling author Gretchen Rubin.

Image: Charles Chan

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A round-up of what we’re reading right now. 

Care for a vacation in Chernobyl? A new book explores the world by visiting some of the globe’s most polluted places. [Via Afar]

Does retail therapy really do anything to make us feel better? As it turns out, you might be better off “underindulging.” [Via LearnVest]

The main seven reasons why you’re unhappy and what you can do about them. [Via Pick the Brain]

What to do when your dream job isn’t so dreamy anymore. [Via The Daily Muse]

Liven up your house so that you’re truly celebrating the summer season. [Via CasaSugar]

You’re planning a dinner party and you just can’t bring yourself to do another taco buffet. Solution? Noodle bar party. [Via Big Girls Small Kitchen]

Ordering food online might seem to be a quick fix for the busy schedule, but it’s actually making you fat and broke. [Via NPR]

With summer in full swing, it might be high time to take on one of these 8 outdoor DIY projects. [Via Curbly]

Image: epSos.de

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If you’re new here, we’re on a road trip down the West Coast this summer with our sustainable clothing company, {r}evolution apparel. You can track our journey here, here, and here!

Money. It’s what makes the world go round.

We think about money a lot. We used to be bargain bin, after-Christmas-sale kind of girls. But then, during our crazy journey from college grads to nomadic travelers to clothing designers, we started tracking the money trail of fashion.

It changed our perspective completely. Now, after two years of living and breathing sustainable fashion, we can hardly remember what it’s like to buy something new, or make purchases without hemming and hawing.

But we wanted to know how other people shop. What’s important to them? How often do they think about the money trail of their purchase?

According to the US Census Bureau, the average American family spent $144 per month on clothing in 2009. But where does all of that money go? We created a diagram to trace the hands that touch a garment.

That’s a lot of hands, a lot of shipping, and a lot of activity for one t-shirt or one pair of jeans. And when we look closely at all of those steps, it’s hard not to ask,

“How can clothes possibly be so cheap?”

The average pair of jeans in America costs $34. But if we accounted for all of the environmental damage done along the way — emissions, processing, GMO seeds, pesticide-use — what would the cost really be?

How much would you pay to breathe clean air? Or drink clean water?

How much would you pay so that the people who make your clothes could breathe clean air and drink clean water?

A dollar extra? Two? Three?

We don’t have all the answers and we’re learning more about true cost and the trickle-down effect every day. What we do know, though, is that shopping isn’t some frivolous activity. Shopping is an investment in the world – and your investment represents the kind of world you want to live in.

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A test for your bike IQ.

You know it. You love it. The bicycle is a clean machine in a carbon-fueled world. Here is a quiz to test your transportation IQ.

Q: On average, the annual operating cost of a car is $8,220. How much does it cost per year to maintain a bike?

A) $308

B) $3,020

C) $20

Answer: According to a 2009 report published by the Bureau of Transportation Statistics, the annual maintenance cost of a bike is $308. Cyclists can lower that amount by joining a bike co-op and learning to repair their own machines.

Test more of your bike IQ:

Pedals vs. Pumps

Bikeways vs. Highways

Federal Transportation Funding

Read more: Japhy Dhungana rode his bike from Los Angeles to the tip of South America. Can you guess why he named his bicycle Bucephalus?

Sierra is the magazine of the Sierra Club. Our motto: Explore, Enjoy, and Protect the Planet. Follow Sierra magazine on Twitter.

Image: moriza

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Spring has sprung. Are you ready for the season of sunshine and optimism?

The natural world is unfurling and coming alive – and we invite you to celebrate the season of renewal and boisterous good health with a springtime selection from our archives.

These flowering plants grow in the wild on open fields throughout the country. Distinguished by its spiky leaves, thistles can serve as a tasty potherb. Just cut off the leaves’ sharp tips, peel the rind off the root and use salt water to boil these parts of the plant.

A Guide to Foraging for Food: 20 Tasty Wild Plants

If you are applying to college, you have a better chance of getting in with lesser grades on a sunny day.

Uri Simonsohn is the behavioral economist at the University of California at San Diego who conducted a study of the science of sun. As he told Psychology Today, “Applicants who are strong academically are more likely to be admitted on cloudy days, whereas candidates who are strong socially are more likely to be admitted on sunny ones. Cloudy days call to mind thoughts of staying inside to read or study.” No word on what snowy days say about academics.

10 Benefits Of Sunshine

Tumble-drying needs huge amounts of energy (see below). So go for a combination of an eco-friendly spin dryer for when it’s raining, and washing lines (standard or fancy) for when the sun’s shining.

Tumble dryers use around 2.5 kwH of electricity per hour. Compared with the rest of your appliances, that’s huge. Dry naturally, and you’ll save $100s a year. Oh, and millions of tons of CO2.

Save the Planet, Save Cash: 25 Best Ways to Green your Green

Traditionally, spring-cleaning involved scouring the house from top to bottom. Our grandmothers rolled up their sleeves, grabbed a scrub brush and bucket and went to work. Comforters were packed away, windows washed until the glass gleamed, rugs beaten and aired out in the sun. That sounds like a lot of trouble to me…

From Dreaded Chore to Refreshing Ritual: How to Reinvent Spring Cleaning

Many of us want a bronzed look, but achieving a safe summer glow can be tricky. We want to look gently kissed by the sun, not smacked in the face by a metallic tangerine. So check out our favorite products this season for sun-less (and safer) color.

The Gold Guide to a Safe Summer Glow

Forget the days of mindlessly jumping in a taxi to go from point A to point B. Urban hiking is all about planning, executing and enjoying the journey, another great example of slow travel. According to the Urban Dictionary, urban hiking is “the exploration of diverse urban environments on foot.” Conservation and travel groups alike promote urban hiking, as it not only gets people outdoors and active, but also allows them to explore the ins and outs of urban landscapes…

The City Girl’s Guide to Urban Hiking

Images: Matt McGee, foxypar4, WarmSleepy, nicephore, Evil Erin and brartist.

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The top stories of the week at EcoSalon.

In a week in which the world said goodbye to the incredible Marie Colvin, we look at ten remarkable stories penned by female journalists.

An astounding amount of American money is being spent on foreign conflicts. What else could be done with it? These 11 world-changing causes would be a great start.

Original thinking is hard, so if you’re feeling in need of inspiration, check out these 40 best quotes on innovation.

Female-founded, women-run businesses are on the rise. Check out these 8 remarkable companies run by women.

Finally, when it comes to blazing a trail, who better than Jack Kerouac? Scott Adelson takes a personal look at the legacy of one of America’s most famous literary journeys.

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