This question we received from a skeptic, educated person
I am amazed at your claims. From your write-ups, one can infer that you are trying to create an Utopia. I wonder if you understand the dynamics of the control of money. You claim that you intend to make your coin equal to a $ from inception.
I wonder whether you know that mining of Cryptocurrency involves some complex algorithm, a network of computers, constant electricity supply among some other things. You don't just wake up one day and say that you are mining some currency out of the blues. The King of cryptocurrency, Bitcoin started in the market with a ridiculous amount of 0.00001$ if I am not mistaken before the forces of demand and supply brought it up to its current enviable level. You intend to change the tax system. Are you aiming at forming a political power to take over power and inaugurate a new system. This appears laughable to me.
Finally, before you go public with anything, do your homework well. There are intelligent people and drafts also out there. The intelligent people sift information and consider them carefully vis-à-vis the knowledge they have and what is prevalent in the society.
This was our answer
Probably people said the same to Mr. Satoshi Nakamoto (whoever he is) when he was working on his white-paper that he made to create the Utopia he envisioned. So yes, we're working on a better future for Sub-Saharan Africa and actually for the rest of the world (at least for the 99,99% less wealthy people) and you may call it an Utopia now. But how beautiful it would be when people from Sub-Saharan Africa changed the world for the better? Wouldn't you be extremely proud?
Satoshi Nakamoto and his Bitcoin paved the way for an alternative for the Fiat money. If you would have a better solution to 'solve' the problems that the fractional banking system is giving the world (especially the petro-dollar) then you are welcome to tell us how. If that solution is better than the solution we are discussing here, we will adopt it and leave our previous efforts behind.
It is quite clear how Bitcoin algorithms work, how complex it is and how it managed to mingle with fiat currency. It's complexity however, is not an argument that it can't be improved. And it must be improved because - in the end - Bitcoin will not solve the poverty gap. Bitcoin actually is already in a stage that it impossible to correct any poverty gap issues. Bitcoin and other cryptocurrencies also don't address the political implications (especially tax payment problems) if they would become predominant. That's why we think all aspects must be considered seriously. And to use the blockchain technology and improve it, is quite certainly the best way forward. Again, if you know a better better alternative, please let us know.
The value of money used to be connected to gold. Currently it is loosely based on oil because Nixon simply decided that this was also possible. Actually the value of money is only what the combined minds of billions of people think it is and what the combined minds of these people think how it is going to change in the future. We can debate for hours on why we think why a dollar is worth a dollar (how that came to pass) but in case of a global financial meltdown this could all fade away fast. Therefore we propose to just agree on the value of our coin by making lists of objects and price them. We also agree on a fixed amount of coins to avoid all inflation.
Start using 'coins' and just agreeing on the value is a method that actually worked in several situations in the past. These were occasions where groups of people just decided to work with IOU notes. Once a group decides that the value is according to what the group just says it is, it is enough to work. It worked so good in some occasions that the government needed to stop it. With cryptocurrencies the governments hesitated (and still are) to prohibit it, because they don't understand what a cryptocoin actually is. Because the governments hesitated so long now, it is now almost impossible to prohibit cryptocurrencies. These hesitations give initiatives like ours, the opportunity to evolve.
So you might laugh at us, but unless you come with a better plan we will note your skepsis but can't do anything with it. The world is filled with people that ridicule other peoples ideas but don't provide better alternative solutions. So please help us work on improvements, because you seem to be an intelligent person who could actually help us on a creating a better future.
What do you say?
Dr... responded with
Thank you very much for the beautiful piece that you have put together in response to my write-up. I am not here to make a mockery of your group. Satoshi Nakamoto took a big risk with Bitcoin and today we have amazing results that he probably didn't dream of. I am definitely not against this "risk-taking venture" of yours because many breakthroughs and advances in life come as a result of dreams and aspirations that got fulfilled while others fizzled out.
Some advances in life came accidentally because some people were pursuing some other things but accidentally alighted on such. What are your goals? Let them be clearly spelt out. When you envision an enduring legacy, you seek for people who will share your dreams and aspirations and also help to propagate such. It is good to know that you intend to "empower" people with your "coins". You will definitely get many people swarming round you purposely because of the free "coins" worth about 10,000$ and nothing more. I am not yet convinced on how you intend to change the taxation system but will rather be silent on this for now. Once again,let it be known that I am not here to rock the boat for whatever reason.
And I said
Your answer brought tears in my eyes and goosebumps everywhere! Thank you very much for your incredible response!!
I'm a construction engineer who dreams of building millions of houses, providing water, electricity, shelter and information (internet) to all Africans and people on other continents that lack these basic means that anybody is entitled to in a world with this much wealth and knowledge. But the only way to make that dream possible for the poorest 50% of the Africans is introducing Universal Basic Income. In my book (see our homepage at the bottom) I explain why I don't think there is any other solution. UBI is also intertwined with VAT. The german that basically invented and installed VAT in Germany has explained why this is the case. If you send me your email address I will send you a free copy of my book (because I love your response so much).
However I would like you to be Vocal (instead of silent) and be very critical ans skeptical on everything (all the topics) you see on this website. Only with intelligent and skeptic people discussing the topics, we can make this dream come true. So I would like to invite you to help us with the topics and help us spread the word about our ideas.
Thank you again!