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today the same happened with another transaction forming a liquidity pool for Divided Party (DiP) tokens, however this time it happened with Trust wallet. First, a maximum fee of around 250 USD was automatically included. I could change the maximum on the Trust wallet to around 20 USD. i checked the latest "network fees" charged with the contract, and it was roughly 10 USD. i made provision for 20 USD. the whole 20 USD was gulped fairly quickly, and the transaction "failed", with the explanation "out of gas". the gas charged was double the gas, of the most recent successful transactions, and the transaction failed. transaction url: https://etherscan.io/tx/0x7e56ecafe93803be0f69313545846a184674b13af045554b10e6eb1f7ad5408f |
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i have been using Metamask for some time. the "network fee" is dangerous because it is the maximum, which can be deducted from an account, for a transaction. i recently put Moyom (MYM) utility token in a liquidity pool with ETH. The following happened: about three times the transaction failed, with costs higher than the average each time. the last time i tried, the transaction went through, when i accepted the high network fee. the cost deducted for the transaction was exorbitant; it was more than 60 USD, and what made it worse, it was deducted in a second, and the transaction went through in a second. a node, mining that transaction, thus had a way to quickly charge a huge fee and quickly mine the transaction. the gas was not used at a speed, one could say, mining at a legal speed. the gas was absorbed at an unusually high rate, which was unacceptable, and i allowed it, because i wanted the transaction to be mined "badly".
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Moiom (MIM) Tokens Team Africahead is a registered Close Corporation (CC). The CC was registered as Moiom CC in South Africa during 1999. 1999 in Roman numbers is written MIM, which gave rise to the name and logo. The existence of Moiom CC can be confirmed by searching for it on the website of the Companies and Intellectual Property Commission of South Africa.
The idea for MIM, is to develop a new currency, anyone can use, to buy and sell goods and services with. People who source buyers of MIM, are entitled to 20/120 of the amount. CREATING A NEW CURRENCY WITH AFRICAHEAD - Moiom (MIM) is an international currency, any DApp developer can use. - The first issue is 100'000'000'000 Moiom (MIM), Erc20 Ethereum tokens for sale for 0.000'000'01 ETH per MIM token. - Exchange Counter: https://tokenjar.io/MIM. Explanation of how to use TokenJar: Youtube video: https://www.youtube.com/watch?v=mo3PFTKhipg&feature=youtu.be- Buy ETH. Download the Metamask Ethereum wallet. Send ETH to the wallet. Wrap the ETH into WETH. Set an allowance to use the WETH. Buy MIM. - The funds raised will be used for the andvancement of Africa. THE PLAN - Each person buys, i.e. 10'000'000 MIM for 0.1 ETH. - He/she can buy something with MIM, convincing another to accept, i.e. 5'000'000 MIM in exchange. Thus the community grows, which adds value to the tokens. - A "universal" open-source DApp can be developed at GitHub: https://github.com/mdpienaar?tab=projects. - The more web developers use MIM in their DApps, the better. - When the first issue is fully subscribed, Africahead issues the next batch of tokens at a price of 0.000'0000'02 ETH per MIM token, depending on circumstances. MIM will be sold and issued for different reasons. Africahead combines business and politics. Moiom (MIM), an Erc20 token, was registered on the Ethereum Network. MIM is a utility token, which can be used by anyone, to buy and sell goods and services worldwide. Any business can buy MIM and sell it to their customers, who in turn can exchange it for goods of the business. The more businesses use MIM, the better. MIM will also be traded on cryptocurrency exchanges. MIM is not backed by an asset, like Africahead Ipparts (AFA), Africahead's brand token. The Contract Address of MIM on the Ethereum Network is: 0x3bEa1Cb0Ea10A35B1995233D6d57B34Fb3142b1B Before interaction with MIM, users must make sure the correct Contract Address above, is used. MIM will be purchased at decentralised cryptocurrency exchanges on the Internet. Currently the only exchange counter used is https://tokenjar.io/MIM. The initial offer is 100'000'000'000 tokens for 0.000'000'01 WETH (ETH) per MIM token. Africahead will never sell or issue MIM for less than this value, and does not give too many tokens away per address, for free, because then tokens can be sold by others, for a lower price than the initial price. This Google Sheets Schedule is used to do calculations for selling MIM: https://docs.google.com/spreadsheets/d/1qcqSWnvSNHUtNBXJXiiMF6Wln1on-I5rStnh3I28Ir0/edit?usp=sharing. The idea for selling MIM, is partly, funding, the future supply of goods and services by Africahead at minimum prices. The more MIM is bought, the more effective the spreading of wealth to all could be. According to mainstream capitalist economic theory, maximum prices are charged, which flow back to consumers and investors, partly, in the form of dividends, charity and debt. According to Intequinism, the foundation of Africahead and Divided Party, the dividends, charity and debt parts, included in maximum prices, will be excluded from Africahead's prices. Prices charged, will therefore be lower than maximum prices. According to Intequinism's economic theory, the Africahead brand value should appreciate, because of minimum prices. Mainstream capitalist economic theory, correlates maximum prices and brand values positively. Maximalist prices are kept in place by the idolatry of some non-profit charity organisations, because the donations they receive, are dependent on maximalism. According to Intequinism, the charitable organisations, maximalist organisations fund, should be the responsibility of governments, which instituted freedom-of-speech. There are too many vagrants in the current system and philosophy shows they are often people who contribute much to society with good ideas. Socrates called people with good ideas, "gods" and "goddesses", which influenced the Eucharist and Mass, for example. Some of the non-profit organisations, due to freedom of religion, are effectively allowed, to interfere with freedom-of-speech, via modern ostracism in the form of gangstalking and censorship. Ostracism and censorship are idolatry. White Paper The White Paper for Africahead Ipparts (AFA) ( https://www.africahead.co.za/Africahead/RaisingCapital_files/AfricaheadWhitePaper9.pdf) refers to MIM, as a project for the future. The funds raised with MIM will be used to supply goods and services to consumers, according to the economic theory of Intequinism. Basically, that means, maximum prices will not be charged, because, in order to maximise the value of the Africahead brand, according to Intequinism, prices of goods and services should be the minimum. Intequinism does not correlate profits and brand values positively. No White Paper exists for MIM. The reason is, issuing money is a developing science, and nothing more can be said, than already written here and in the White Paper for AFA. How MIM tokens enter the market, is developing. Fiat currencies are issued by banks in a well-developed system, which, because of failures, are getting opposition from cryptocurrencies. It is currently foreseen that interest will never be charged on MIM and MIM will not be lent. A new concept called intequity will be applied when MIM is issued without receiving payment. It will only be possible when MIM has a value and enough liquidity on Exchanges. The word intequity was "coined" by the current founder/owner of Africahead and is partly explained in the whitepaper for AFA. If any interest is relevant, in reality, users must discount it into the price of MIM. Africahead plans to issue MIM tokens in an intequible way, to not disadvantage earlier buyers. Intequinism is capitalist philosophy, therefore, people who agree and see potential early, should benefit later on, with capital appreciation of MIM. Questions can be asked in the chatrooms, below, formed to answer questions about Africahead Ipparts (AFA). Contact details: Tel: +27(0)824477125 Email: africahead2@gmail.com or mdpienaar@africahead.co.za. Chat: Telegram Chat Group at: https://t.me/joinchat/IBJxVg-zUeFtoxe6GGAdsg. A reply will be given soon. Telegram News - not for chatting. |
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Apart from Africahead's brand token, called Africahead Ipparts (AFA), Africahead started issuing a utility token, called Moyom (MYM). The idea for MYM is to develop into a "universal" token, used by developers of any website, using Erc20. Ethereum infrastructure. The Ethereum network has already, made possible, payments for goods and services with Erc20 tokens. MYM can also be used on the hardware, which makes provision for Erc20 tokens. Africahead is not a developer of websites and DApps. Africahead's role in issuing MYM, is that of a financial corporation, making liquidity available, for wealth creation. The more developers and consumers use MYM, the better. Africahead does not commit itself to a specific way of issuing MYM. Intequinism, the foundation of Africahead, currently, does not approve of interest. If users think interest is relevant they should discount it into the price of MYM. Moyom (MYM) Webpage: https://africahead.github.io/Africahead/Moyom.html |
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Africahead Ipparts (AFA) over the counter ICO (Terms are subject to change until the first sale takes place) Africahead started an over the counter Initial Coin Offering (ICO) of AFA on 14 August 2018. To date (10 October 2018) no AFA has been sold. The positive side to no sales is, the White Paper can be improved and changed, because the ICO agreement in the White Paper will only take effect after the first sale. The idea used for Africahead Ipparts (AFA) is a new idea as far as i know. The idea relates partly to philosophy behind cryptocurrency. My philosophy called Intequinism explains partly why cryptocurrencies came into being. Intequinism is partly about "gods" and "goddesses", which are words, best used in inverted commas, to show the historical nature of the words. Socrates said "gods" and "goddesses" have good ideas. His philosophy influenced utilitarian Abrahamic religions and utilitarian philosophy a lot. The Eucharist, for example is understood in context of Socrates's views. Hence, the relevance of philosophy when Altcoins, like AFA, represent Intellectual Property. Currently internally generated Intellectual Property may not be capitalized on balance sheets, unless it was bought. A logical way thus to get the assets capitalized, is to sell it in the form of Altcoins. Attributes of AFA tokens and the ICO: Token Type: Ethereum Erc20 Name of Tokens: Africahead Ipparts Abbreviation: AFA Authorised Number of Tokens: 480'000.00 Total Indivisible Units: 48'000'000 ipparts Decimals: 2 Time of ICO: The ICO started on 14 August 2018 and will close when "the event" occurs. Refer to the explanation. AFA Contract Address: 0xfB48E0DEa837f9438309a7e9F0cFe7EE3353A84e ICO webpage: https://www.africahead.co.za/Africahead/RaisingCapital.htmlHighlights of the ICO: Capital to raise: 500'000 USD. Tokens to issue: 25'000 AFA = 2'500'000 ipparts. Price per token: 25 USD/AFA = 0.25 USD per ippart. Planned use of capital raised:
(1) Repay around 615'000 ZAR, founding capital to founder.
(2) Salaries to form a team.
(3) Developing a decentralized Ipparts Exchange on the Ethereum network, using the economic theory of Intequinism, to help raise capital for startup businesses, in a similar way AFA is used currently to raise capital for Africahead.
(4) Improving the websites of Africahead. africahead.co.za, fonetones.co.za, sastrust.org.
(5) Marketing Africahead and its products, especially the philosophy Intequinism.
(6) Financing Divided Party (DiP) for the 2019 general elections in South Africa with the amount of 1'000'000 ZAR for marketing, and the election deposit for at least one candidate on the national ballot paper. Explanation and objectives: The ICO is an over the counter procedure, partly because different currencies can be used to buy AFA and because of a low budget. The bulk of the funding will probably be raised in ETH because offering AFA happens on decentralised Exchange Counters, dealing in Erc20 tokens. The only necessary requirement to own AFA is an Ethereum address, where AFA can be sent to. Transactions however can be concluded in any fiat currency, BTC and ETH, by negotiating via email, telephone or meeting face to face. Payments can also be done with Paypal. AFA is an asset backed token. It is backed by 48% of the Africahead brand. The Africahead brand consists of primarily goodwill and copyrights. The brand value may not be capitalized on the balance sheet, unless it is sold, because International Accounting Standards prohibit the capitalization of internally generated Intellectual Property, unless it is bought. Usually only purchased "Intellectual" Property appears on balance sheets. That is partly the reason of large differences between market capitalization of companies listed on stock exchanges and net asset values on their balance sheets. The copyrights consist primarily of copyrights on the Africahead transacting mark and Intequinism. The mark consists of the map image of Africa and the word Africahead. Intequinism consists of published books and other writings not published. The deal is, all copyrights I can claim, will be ceded to Moiom Close Corporation t/a Africahead when the first AFA ippart is sold, because then a third party is relevant. 25'000.00 AFA is available for the ICO. 5'000 AFA may be used for paying expenses. No other significant amount of another currency is available to pay for expenses. Therefore the ICO can be called low budget. Low budget ICOs could be good value-for-money, when logic "all"-in-one is relevant. The ICO has partly the purpose of financing a future team, because i cannot on my own make the business succeed. When 25'000.00 AFA will have been issued or 500'000 USD value will have been raised, whichever happens first (the event) the ICO will close, and 48% of the brand will back the issued AFA. Unissued AFA, which is currently all the authorised AFA, is held in trust in Africahead accounts and Exchange Counter accounts. During future issues of AFA, current holders at the time will have first option to buy AFA. Value: The brand was valued arbitrarily on about 1 million USD. That means, 48% of the uncapitalized brand, which is being sold with the ICO, is valued at around 500'000 USD. The ICO should therefore raise about 500'000 USD. At Africahead, the quantity theory of money and the supply and demand theory are regarded to value AFA. Supply and demand theory is temporary and quantity theory longterm. Using quantity theory, the USD/AFA exchange rate, should be `48% X Africahead brand value in USD / 25'000 AFA`. Other matters: The White Paper also refers to a private placing of equity:intequity, which will decrease my equity holding. This explanation is not complete. Any person interested in the offer should read the White Paper and the webpage where the ICO is hosted. From the time the first AFA is sold, about 25'000 AFA (2'500'000 ipparts) will represent 48% of the Africahead brand, and the 48% will "never" be for sale again in another form than AFA. Sincerely Marquard Dirk Pienaar, B.Acc (Hon), MPhil (Philosophy). Founder and current owner of Africahead |
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