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This is an unofficial abbreviated translation of the preliminary announcement text. "Kansanmarkka - suomalainen paikallisraha" is a strongly Finnish new venture with the account software only in Finnish at the moment. Nothing should be regarded as final, etc. The post will be updated as new info becomes available. Last updated 2016-11-18


[2016-10-3]
People's Mark (Finnish: kansanmarkka) is based on universal basic income for Finnish nationals and residents
Value is freely floating in the market
Centralised DB, proprietary account software in browser/mobile
Will be transferred to a crypto platfrom "as needed" (with higher market cap target)
Suggested uses: local transactions, internet commerce, supporting activism



"Markkakanta" account system

To register as recipient of universal basic income, complete authentication must be given. Anyone can, however, register as a "project", which is just a numbered anonymous account, ineligible to receive basic income but possible to participate otherwise.

A large part of the information of participants is public as a default, enabling search of other local users and teaming up with them. Social media style platform exists in the system itself, also linking to others (FB) is possible.

There is a direct democracy feature where all users may select a coordinator by voting in a zipcode level, and these will in turn select municipality/borough, city and area coordinators in successive stages.

The using of the account is simple and transactions instantaneous. In addition to the currency, Markka, also tokens can be created and traded. The most important token is the share of the system, which is self-incorporated.


Bureau of Economy and the Treasurer

Bureau of Economy ("taloustoimisto") appoints Treasurer ("taloudenhoitaja") who manages the system, especially the important aspect of the details of new money creation.

The Bureau ownership is divided to approx 10 million shares, of which 5 million belong to the people of Finland and will become free-trading only after a delay, and the 5 million will be able to be sold as "free trading" or "support" shares, which both have same dividend but the former may be traded, while the ownership of the latter gives a higher rank in the internal hierarchy in the economy.

First Treasurer is me. A short bio:
- Majoring mainstream economics in 2000-2006 in Aalto University / prof Wallenius; Austrian economics self studied same time
- Founder of several companies, among them Hopea.fi, Silverbank, EIH, Scenario Investments, Crypto Holdings (most dealing originally with investment silver, later Bitcoin/Monero)
- Creator of Crypto Kingdom (https://bitcointalk.org/index.php?topic=819073)
- Lives in Malla Bitcoin Castle, the largest piece of property bought with Bitcoin profits


New Emission of Markka currency

The Treasurer decides weekly about how to distribute new currency. If it is done, it must be done as follows and no other ways will be available:

* Universal basic income must be given to every Finnish citizen that resides in Finland, equal amount to everyone.
* Encouraging basic income is calculated with a script from the personal records in the system, and differs in amount (script being the same for everyone of course). Also foreign persons may be eligible.
* Split is used to increase the number of currency units in proportion to the existing balances. This is done if their value abruptly rises, to keep the exchange rate in check while not diluting the ownership of existing owners.
* Dividend is always 10% of the sum of the money creation of all the previous three ways combined, and may not be more nor less. It is given as a dividend to the owners of the Bureau in proportion to the shares.


Miscellanea

Physical certificates will be issued to complement the payment options.

Bureau may never print new marks to itself, nor to any entity that is not an identified human, except if in connection with Split or Dividend, where the number of marks and shares (respectively) decides the amount of new issuance.

Bureau may never receive any compensation from the issuance of marks, the receivers get them all free.

The exchange value of markka, is targeted to grow but only slowly, and reach parity with EUR. If it dips, less or no new money will be created for a time. If it surges, split will be arranged. There is no cap on the total number of markka.

The Bureau stock is the more speculative item. It will come for trading in Crypto Kingdom soon.

In Finland about 55 billion EUR are in circulation, mainly in bank accounts. If all these can be replaced with marks of equal value, the people will have received basic income totalling 50 billion, and the owners of the Bureau will have received 5 billion as the 10% dividend. A person (especially a non-Finn) cannot meaningfully increase his share of the larger pie, because it is equal for everyone. But the smaller pie is up for grabs, because it is in proportion to ownership. This is no investment advice.




[2016-10-4]

Hi all, thanks for encouraging feedback! :)

First it's important to realise the following:

1. we will make a new currency, which is first a centrally managed one, but will become a crypto soon

2. before that, we need to create the organisation that will manage the currency! The organisation itself is a self-existing corporation with stocks. The stocks will be able to vote, and have dividends: 9.1% of the total amount of new currency created will be given to the owners.


I created 500k shares to myself to be given in the first 3 years slowly to keep myself motivated (only 100k is given right away). 50k is given for free to the owners of Crypto Kingdom, my earlier project. I want to keep people in all of my projects happy - even if I jump to new ones without warning, they should not suffer. The total in all kinds of stocks and options may not exceed 2...10 million units, depending on the number of users (none...all the people in Finland). So the token remains very rare and 1% tail emission starts only after 1 million identified users!

So if you want to get involved, register to Crypto Kingdom and buy the token MKA (the share of the Economic Bureau) (https://cryptokingdom.me/marketplace/item/MKA). It is very high risk, so possible to get cheaply if some of the CK players sell the freebies. More info on the distribution process via CK (https://bitcointalk.org/index.php?topic=819073.msg16450170#msg16450170).

There is no ICO planned for either these shares or the currency when it comes (later this month). The distribution model is basic income, so all people will get them first, and then investors buy from the people in the aftermarket that we provide in the account software. If you want to participate in the basic income, you have to be a Finnish citizen.



[2016-10-5]The freebie-spinoff launch of "MKA - Kansanmarkka EB A-share" (Crypto Kingdom item: MKA) went as planned.

The total circulation of MKA is now 170,000 units, of which 50,000 are currently registered in Crypto Kingdom platform.

6 hours after commencement of trading, the market has ask/bid of 0.19341 / 0.1894 XMR, which is about $1.2/€1.1 per unit of MKA.

Calculating the market cap is tricky since the grand total of MKA, MKB and MKD issued is 1,150,000 units, but some of them will only be converted to MKA after 5 years.

MKA owners are entitled to 10% seigniorage dividend, calculated from the total of Kansanmarkka (MK) currency issued. The first issuance of the currency will happen approx. between October 17-24 to the small number of participants in the first pilot phase of the software. During the rest of the year, minimum 10,000 participants are projected. This will increase the quantity of currency issued - and thus dividends - markedly.

Thank you everyone who has volunteered to translate! :) Since this is a national coin, we are content with Finnish but will reach out to you if plans change.


[2016-10-19]One more basic income round was distributed today, raising the total issuance to 232,000 MK. The target price per unit is 0.05 EUR, and the actual price in the sole (as far as we know) exchange is 0.0102 XMR (0.062 EUR). The market cap is 11,600-14,300 EUR.

The stock MKA also had a distribution round today, "CK #2". This causes the 50,000 freebie stocks to be fully distributed ("Office" holds about 600 for claims purposes). In total, the number of stocks entitled to dividends and votes is 620,879. More are for sale by the Bureau, but only against a payment in MK (20-25 MK/unit). Since the issuance of MK is so small, not much can be bought. In CK, the price of MKA is 0.310 XMR (1.88 EUR) and the market cap of the Economic Bureau ("central bank" of the Kansanmarkka economy) is 1.2 million EUR.

We now try to get the pilot users to actually function as an economy. We have people who are interested in buying MK and MKA, but it is hard to get anyone to sell.
- Communication between piloters is the first issue to be tackled.
- Markkakanta account system is strongly developed to include the promised features that mainly exist as code.
- As much basic income will be doled out as possible, with only the restriction that the price may not dip from the target of 0.05 EUR.
- We continue to offer MKA and B-series shares cheaply to the users.
- Clearing system for both digital and physical currency is being developed and we have already contacted payment processor.
- A new batch of certificates will be designed and issued, estimated 50,000 "banknotes" by the end of November.
- We also seek 2500 users by the end of November.

It is a pleasure to report this :) Please ask / comment whatever you wish :)


2016-11-18     A "Motivating basic income round" was held in 2016-11-30 (about 200,000 MK) and that was given completely as virtual collectible coins, of which 27 types were created. This mimics CK successful approach (they have about 300 types). The coins have a face value, at which the system will always buy them back.

In the 2 weeks since, only about 20% of the coins have been smelted, though, proving that there is much possibility in the system to absorb more money creation.

Because of difficulties to exchange KMK<->EUR and the uncertain value, a "Matching round" was arranged with anyone having the opportunity to enter bids and asks in a manual exchange spreadsheet. This resulted in 21,000 MK changing hands at a fixed 0.070 EUR/KMK price. The sum that was exchanged, albeit tiny, is in fact more than 10% of the readily circulating monetary stock.

The value, 0.070, is 41% higher than the previous Target Price of 0.050 EUR/KMK. This was selected to be the new target price as well, cementing the 41% gain for all the holders of MK.

The stock market was more dormant, however, as MKA in CK is trading at 0.300 XMR (1.86 EUR), a minute -3% in XMR terms and -1% in EUR. (In MK terms, the stock actually shed value drastically due to the MK appreciation).

The challenges to get 1st phase pilot users (77 of them) to function are about overcome. We now move on to gain 500 new users by the early days of December.

25 of the piloters are now promoted to be Coordinators in coordinator levels 9-16 in the 20-step Kansanmarkka levels system. The coordinator levels roughly correspond to Baron(et)-Grand Duke levels in CK (11/12-18)

Planning side is very strong in the meantime. Complete goal roadmaps for a full year have been drafted, including two of the most important:
* Feature (technical/economic) strategy.
* Marketing/communication strategy.

It is not possible to translate these into English with our current focus, however.

Thank you! :)

Not sure what is this, but I'm watching.

Now we october more details please.

donator legendary? reserve

Nice idea, however needs more info on the token itself, for example how is the initial distribution made and what is the future emission rate, how much is the basic income etc.

I believe we have an honest dev also.

donator?  :o
*bookmarked*

no bounty dev? hehe...

signature bounty?just do it,please

any translation bounty sir? i can do Filipino translation if any.

Yes.. seems we are getting something interesting. a donater legendary bringing a new currency.
I would definitely watch this thread for more details..
OP when will the crowdsale start? it is already October 2016.

donat donat tour launch  ;D

Cool.

Also, post a pic of the castle.

This should be specifically in bold letters.

Watching this one. Interested in seeing where it goes... or doesn't go.

I keep an eyes on this thread
I think this is very interesting, but we need more details about it.

Interesting, will definitely follow this.
If in need of finnish translation, contact via PM.

sound very interesting seeing that a donator created an open ann for another crypto project i think its worth to watch and wait i will follow this thread for me to be able to keep updated regarding to this system im looking for more passive ways to earn so if this can bring some good feedback and support its better to ride from it. keep us posted OP thanks in advance.

What a great idea! Watching this space...

we? are u team in this project?

bookmarked this one, good luck !

Looks a nice project!
All the best and good luck!

Looks nice *bookmarked*

What!! a legendary donator is coming with a coin!! I shall keep this page in my watch list. And I would like to read about more information about this coin. Now a days, every country is having it's own coins. I saw zloty and pesobit..and now this coin.

Definitely keeping an eye on this. Anyone who's been around for a while will no doubt recall rpietila's unwavering support of XMR from the earliest days of it's development. Looking at where it was then & is now I'm sure it's paid off quite handsomely :)

Bottom line is he knows how to make things happen. Nothing is guaranteed profit, but I could guarantee this project is about as legit as it gets. Excited to see where it leads.

Absolutely! First thing I did.

Thank you for this project op. I was deeply contemplating a very similar idea 2 weeks ago, for a very different community; the burningman, symbiosis, phish, bonnaroo, gratefuldead, etc, festival crowd. If this is successful then I wish to imitate this method as this could be extremely revolutionary.
Ie: basic income for a temporary nomad newage city but a very permanent community.

I look forward to watching this and am still trying to wrap my head around the details. Such as the printing of physical certificates

Any and all info about this project I will be digesting.

Isn't money anathema to Burningman?  It is all gifts, yes?

If you need a indonesian translator

i am ready dev :)

in case of bountyes... portuguese translaction reserved...
good luck thx

Risto, photos or videos of the launch event, please. Otherwise, meh.

So is being present in that hotel and proving citizenship only way to participate first wave of basic income test?

After recent interest, we are at 0.275/0.270 XMR   (about $2.02/€1.83). Of course the trading happens at low absolute volumes - the total volume of trading in the 6 days that it has been trading, has been about 3,000 units (about $5,000).

Remembering that more than 100 people got their initial position free of charge, we believe that even at low volumes, this is indicative of actual market valuation because every one can individually dump and profit if they feel it is being pumped.

To see the real-time situation, it is required to register to Crypto Kingdom (https://cryptokingdom.me/player/register) (item: MKA). Registration is free.

Two quick things I observed:

1. It seems countries are tending towards creating coins specifically for their countries
2. All those on this thread seem more interested in the catch - which is why we all joined this forum anyway :D

this is very good newses... every batriotic finland man should be onboard for kakkamarks when it launghes!

Hello Risto silverbank guru and sexy chocolate,
I'm just wondering when are you paying your debts? You just stole 1 553 054 433 827 peoples marks from me! I can take bitcoins, but not your fake silver.

https://s16.postimg.org/m0728o0l1/Screen_Shot_2016_10_13_at_12_51_20.png

In addition Risto, since this project seems to be a project with putintrol Ilja Janitskin and Marco "constant need to shit" Guert I'm wondering is there any kind of insurance that if the peoples mark get into trouble we can get a safehouse (new mansion?) from Donetsk for the whole peoples mark crew?


ps: Risto! Really happy to see your progress from smoothies and fakesilver to take down the banksters and globalist order! 1488!

Spot on brother! All you on this board saying "I can translate to...." should really stop. This totally new and innovative currency is for the white peoples of Great Finland, not to any foreign assholes trying to come to our supreme country, that unfortunately is in a little bit of trouble since the suvakit don't let finland first commanders shit in any toilet they want even if they really need to shit. But after peoples mark destroys euro and the banksters we will be a lot better country and can buy touching and licking services from Ilja Janitskin with the peoples mark.

wait for further development
if it good i will join

Any bounty programs dev??? :)

OP is a famous dude in monero and bitcoin community, wow, you are Finnish? I love Finland, I support your project.

Edit... nothing.

torilla tavataan!

let's meet at the marketplace!

Hello rpietila,

Congratulations on your launch.
I have a few questions.

1. You say

What happens if the value abruptly falls? Does the opposite of a split happen?

2. Can you elaborate on the differences between mka, mkb, mkd?

3. Can you elaborate on the physical certificates?

Thank you.

And as I've been trying to tell you, you are creating that problem for yourself unnecessarily. You are trying to replace TPTB with yourself. That is not the correct solution. We don't need more idols (Ten Commandments). Read below...



Creating as much money as needed is a lie to yourself. Money can't buy knowledge creation:

https://bitcointalk.org/index.php?topic=355212.0 <--- the OP of the Economic Devastation thread
The Rise of Knowledge (http://www.coolpage.com/commentary/economic/shelby/Demise%20of%20Finance,%20Rise%20of%20Knowledge.html)
http://unheresy.com/Information%20Is%20Alive.html

It is the knowledge creation which is needed and valuable. Money is a claim on resources, but not a claim on knowledge creation (because it can't be, read my essay linked above).

The power to create unlimited money (even by having people follow) is never a desirable power because it is a power vacuum.

It can never be a truth that money which is created by following leaders is an honest/truthful or nonviolent money system, because it will always be a power vacuum.

The foundation of your plan appears to begin with fundamental logic errors. Sorry. IQ tests lie.

This is a technological and political-economic flaw. A Nash equilibrium immutable protocol should be the law, not humans.

A system mutable by humans is a power vacuum.

Where is People's Mark traded or made open for purchase  ::)

I'm a long-time forum lurker, and was meaning to post something along these lines months ago. Obviously I never got to that. Feel free to delete or move this wall of text if it seems irrelevant or out of place.

I'm trying to summarize Mr. Pietila's project Kansanmarkka from the perspective of a Finnish citizen. Maybe not your Average Joe, but someone who uses google and reads forums. Please note: I have nothing personally against Mr. Pietila. He doesn't owe me a single dime. I'm not connected to him in any form, and all of this is taken from sources that are or were public (Mr. Pietila has been deleting forum posts). I've got no insider information.

Please also note that I'm not trying to portray him as being "guilty by association". Ie. I'm not accusing him of being a racist, alt-right, pro-Russia, or anything like that. He's skeptical of the government, but I consider that to be a positive.


(Re: rpietila Wall Observer - the Quality TA Thread ;) - February 08, 2017)

This is an unfortunate turn of events on Mr. Pietila's part. However, as most probably realize his descriptions of the events were vastly exaggerated. Was the establishment "able to thwart" his project? Well, the project was not getting anywhere so it would have been pointless. They had maybe 90 participants for a bar event, and perhaps several thousand reading some web articles. What they accomplished was some hot air, some drink vouchers, and a shoddy website.

Mr. Janitskin runs a Finnish web magazine MV Lehti. It's considered by many to be the leading "alt-right" "fake news" publication. They'd run conspiracy theories, attack pieces, racist rants but also fairly normal news-like content. The more controversial content got Mr. Janitskin to trouble with Finnish authorities as he was sued or investigated for several crimes including defamation of character and hate speech. On this forum Mr. Pietila had repeatedly mentioned 12-13 year sentence that he said the procecution was demanding for Mr. Janitskin, but that's actually just a technicality required for the extradition process. Finnish police apparently had to inform the other country (Spain) on the maximum sentences in order to get the process going.

For contrast, 12 years is the Finnish "life sentence" for murder. There's a case where a repeat slanderer got 4 years or something, but he had spent at least double that time defaming dozens of individuals.

Because of the aforementioned Mr. Janitskin has a lot of notoriety in Finland. He's a quite well-known figure. Mr. Janitskin is seen as pro-Russia among the mainstream press and their audiences. If this assesment is fair or not I'm not sure as I've not studied Mr. Janitskin's views, but Finland has a troubled past with our huge neighbour so this kind of "accusation" tends to raise eyebrows. Mr. Janitskin has certainly been able to sell his "martyrdom" of "having to flee the country" to his supporters, but in the eyes of mainstream audience he may seem like a guy who says whatever he wishes, and runs away when he's confronted.

Mr. Pietila, on the other hand, is nowhere near as "famous" as Mr. Janitskin. There are several articles on him or that mention him, but his "fame" mostly comes from a bizarre TV documentary about silver business and superfoods. Even this is something that most Finns would not know about. His projects are discussed on some web forums, but that's it.

I don't know what happened, but I suspect these two met, possibly bonded on their anti-government views, might've felt they were in similar situation, and decided to promote Kansanmarkka via MV lehti.

Other early public endorsers of Kansanmarkka include Marco de Wit, the spokesman of the vehemently racist Suomi Ensin ("Finland First") group (or at least one of the branches/variants as these people don't seem to get along).

According to some publicly available comments Mr. Pietila would've been financially supporting Mr. Janistkin, and bought him a car. According to other commenters Mr. Pietila would've attended Finland First demonstrations. The first claim seems to be correct since Mr. Janitskin has publicly thanked Mr. Pietila, but the latter I can't verify. According to Mr. Pietila he's supported "numerous anti-government/anti-nato/anti-deep state groups since 2004 with sums of up to 7-figures". I sincerely hope that this does not include Finland First - this group basically looks like a bunch of inbred racist hillbilly drunkards who've known to get wasted in their demonstrations, and who've said to attack passers-by at random. Even other anti-immigration commenters say that Finland First makes them look like total jackasses.

Given the extremely negative public image that this publication, this group, and these figures it was not the greatest play when trying to launch something that is meant to affect the entire nation. That goal was probably quite impossible, but the first page Google hits for Kansanmarkka were about these connections. Kansanmarkka became a pet project of some alt-right activists. While their political ideas have recently gained some traction, probably more than 80% of people are either loudly against them, or utterly indifferent.

I don't think that Mr. Pietila necessarily shares the views of these other parties, but he became a pawn in their political games.


I also see other major problems with the Kansanmarkka project.

1) It was not explained very well, if at all. How does it work on theoretical level? How does it work in practice? Who will accept this currency, and when would that be? Mr. Pietila's original post to this thread is the most comprehensive post on the topic, and as you can see it's not that detailed either. The website was bafflingly vague.

2) Who's behind it? Who backs it up? Apart from the shady and/or controversial alt-right figures, there seems to be a fairly unknown bloke living in Estonia. And even that's not in the official literature, but some forum threads if you dig deep enough.

3) Even people who share some of the same political views as the early proponents saw Kansanmarkka as a scam of some sort. Mr. de Wit is quite well-known as well, but his reputation isn't good even in the "alt-right" circles.

4) The launch event felt like a complete joke. They gave what's basically a drink voucher to some random people so that they can get something from the bar.

5) The site and project was hastily coded on PHP/MySQL and some free templates. There's an amusing thread on a Finnish forum in which they login to the system with completely bogus information, notice that there's a button to create arbitrary amounts of money, and start transferring that to each other becoming billionaires in the process. And this was just days before the project launch.


Sell a silver coin, and people get the inherent value (even if it's scrap silver). Promote a crypto currency, and it's going to be much harder - but you can still explain the mathematical basis on a layman level.

Create a currency that's purely based on speculative future value, tie in an opaque entity that "prints" arbitrary number of these "coins", demand that the stocks of this entity can be bought with this speculative currency, create a convoluted multi-level structure for both the stocks and people involved, and indirectly tie the value of the currency to a literal computer game (as far as I can understand). Explain the background in secret to your chosen group, wax poetic about monetary reform in public, and promote the whole thing via sources that very few people trust or even listen to. Selling this is to a broader audience would be an impossible task. Most people would just write it off as a scam.

A forum user with a nick "LeaveEuro", who attended the launch event, summed this up in Oct 2016 (a rough translation):
"Makes no sense whatsoever. Extremely disorganized, everyone involved has a very questionable reputation, and I don't think that Pietilä nor anyone else involved have any competence to run the technical aspects of the system. As far as I know the 'central bank' has been hacked couple of times already, and participant's names were published because of this. Not even basic stuff like a reasonable level of privacy were taken in account."


In conclusion:
- I don't know if Mr. Pietila is a crypto genius, but he's obviously not a master strategist. You have to see outside of your bubble to achieve any real-world change. Couple of political activists just saw it as an opportunity to make a feeble statement.

- It's not Mr. Pietila's project that's problematic to the establishment. Mr. Janitskin's publication is a much more potent problem, but even that's might not be popular enough to pose real danger to the powers-that-be.

- It's understandable for Mr. Pietila to see many events as a conspiracy. It's easy to see why he doesn't want to stay in Finland. Given his background, projects and proclamations his decision to be a king in virtual world also makes sense - real-world revolution is near impossible to trigger.

- No matter what perspective you take it's hard to see how Kansanmarkka could've succeeded. The implementation was inept, it was secretive in the wrong parts, it was apparently meant to be controlled by one party, and in it was tied to some of the most notorious figures of recent times.

- Saying that I don't understand the genius of this project would be a fair assessment, but then again - neither did anyone else.