CHS is part local business, part hyperlocal experiment. From cutting edge ‘live coverage’ to community features, we’re pretty much always trying something new. Here’s another new thing. As a small business that provides an important service — advertising! — to other small and local businesses on the Hill, CHS gets approached with lots of trade opportunities. It makes sense. Cash — especially the smaller and the more local you are — is tight.
Some of the offers we can put to good use. Some of them would be better put to use by others. The Capitol Hill Marketplace developed by our Hill-based pals at Dibspace is a potential solution. Simply stated, it provides a way for businesses, organizations and community members to trade goods and services in a simple exchange of credits called dibits. It makes most sense if you think about a kind of three-way-trade. I have a bike and trade it for the 100 dibits you earned painting a fence. I take those 100 dibits and buy several scoops of delicious ice cream from Marketplace participant Bluebird. In the end, I’ve traded my bike for ice cream even though Bluebird didn’t need a bike. They need a banjo player. For 100 dibits, they hire one. Good trade.
There’s more to it but this will do for now. Full disclosure: CHS is sponsoring the Marketplace so we share in any revenue generated by the purchase of dibits — but that’s not why we’re working on this. This isn’t about buying dibits. If there’s cash involved, we expect the Hill will continue right along with doing business the way we always have. The Marketplace survives or dies based on the goods and services the community puts into it. More about the new service below with information on how to sign up and a look at some of the offers already in the Marketplace.
Visit the Capitol Hill Marketplace
Join the Capitol Hill Marketplace: The easiest way to trade what you have and get what you need in your community.
Brought to you by the Capitol Hill Seattle Blog, the Capitol Hill Marketplace is where locals buy and sell goods, services and stuff, all for Dibits – the online currency that’s taking Seattle by storm.
Dibits are just as valuable as Dollars but they’re much easier to earn and spend, so all of us can trade what we have and get what we need. And if you’re quick about it you’ll get 100 Dibits (worth $100) just for being one of the first 20 people to post an offer.
–For businesses, it’s a quick way to get loads of neighborhood customers and pay for many of your core business costs.
–For Capitol Hill residents, it’s the fast, safe and easy way to sell your stuff and buy local.
And since our Marketplace is exclusively for the neighborhood, it’s a great way to build connections and keep resources in the community.
The Marketplace is brand new but it’s already filling up with great offers:
• $75 worth of CapitolHillSeattle.com advertising (75 Dibits)
• 22 Doors – $25 off your tab (25 Dibits)
• 8 Limbs Yoga Centers Drop-In Class (16 Dibits)
• Bacon Mansion: Bed and Breakfast Guestrooms (100 Dibits)
• Electrical services from Tangent Electric (80 Dibits/hr)
• Publicola – 4 Weeks of Online Advertising (250 Dibits)
• Liberty Bar – Cocktails, Beer and Sushi (20 Dibits)
• Blue Bird Ice Cream – 5 Scoops of Ice Cream (15 Dibits)
Sign up now for your free account on Dibspace.com: https://dibspace.com/join
Then join the Capitol Hill Marketplace and post an offer for your neighbors: http://chs.dibspace.com
You can access the Marketplace via the new Maps & Tools menu
Not according to Dibspace’s FAQ:
“Is it taxable?
Yes. According to the IRS, barter transactions are taxable just like cash transactions.
Is it legal?
Yes. In fact, the US government likes “complementary currencies” because it’s something they can tax.”
That said, Dibspace doesn’t give you any hints as to how you’d go about reporting or coughing up the taxes. But then neither do Amazon or out-of-state mail-order companies.