[ANN] [SDR] Solidar fka WorldLeadCurrency a Freigeld coin for a basic income

[iTradeChips]

another thing. i get the idea of reduction of 20% balance per year to distribute to others true to the principle of UBI and i think thats good. but technically how does it work? does the deduction happen at the last day of the year or does it happen throughout the year continuously? because if users know for example that the deduction will happen every 31st of december, they will just dump everything before that date to avoid loss.

[rik8119]

Hi the accounts are calculated every block (COINS * 0.999996185 ** (age of the transaction in blocks)). So it makes no sense to dump the coin for demurrage reasons (you have to pay the rate anyway). So after 10 Blocks 1 WLC degenerates to 0.99996185. And after 52560 blocks (~1 year) 0.81830775 WLCs are left.

To yobit: Yes it is definitively on my list. But the project is not profitable at the moment, so i can only try a free listing right now (what i have done ritght now ;-). I keep it updated if anything new comes up.

EDIT: There is a special exchange for Freicoin and WLC in development by the Freicoin community.

[iTradeChips]

Hi the accounts are calculated every block (COINS * 0.999996185 ** (age of the transaction in blocks)). So it makes no sense to dump the coin for demurrage reasons (you have to pay the rate anyway). So after 10 Blocks 1 WLC degenerates to 0.99996185. And after 52560 blocks (~1 year) 0.81830775 WLCs are left.

To yobit: Yes it is definitively on my list. But the project is not profitable at the moment, so i can only try a free listing right now (what i have done ritght now ;-). I keep it updated if anything new comes up.

EDIT: There is a special exchange for Freicoin and WLC in development by the Freicoin community.

okay sorry i was too lazy to read the technical description. good to hear about the development. i am glad some people in cryptoworld put an effort into UBI. i really like the idea. cryptocurrencies are the shit!

[Apriand]

You are special one of coin dev rik,,, still active here and answer any question. I like that... and i hope this coin still listed at c-cex.

[rik8119]

Me too, by the way opening post is now available in malaisian language: https://bitcointalk.org/index.php?topic=1411798.0

[iTradeChips]

hi rik i created an account it says pending approval. another question, what if many users join and create account and they dont invest and just hope for the benefit of redistribution? and why would those with lots of resources invest knowing that they will be taxed more?

[rik8119]

hi rik i created an account it says pending approval. another question, what if many users join and create account and they dont invest and just hope for the benefit of redistribution? and why would those with lots of resources invest knowing that they will be taxed more?

Hi

Q: what if many users join and create account and they dont invest and just hope for the benefit of redistribution?

A: This is the general question behind basic income: What happens if people get an income without conditions? Many polls and field experiments suggest that people invest more time in education and spend more time with their friends and family. And as the rules of supply and demand suggest the more people that are cashing out the lower the price. So it is more about acceptance and trust than about simple generation of short time profits. Beyond a certain point, like in Bitcoin some people will ask themself, ok now we have that innovation what else can we do with it? And they start do develop businessideas what keeps the money in circulation and decreases the motivation to cash out.

Q: why would those with lots of resources invest knowing that they will be taxed more?

A: That is the brilliant thing about demurrage currencies /(and to some point to all alternative currencies): There is no need for big investors. As stated above at a certain point of acceptance and trust people start playing around and some will find a way to earn money with their ideas (developing mining farms for mining bitcoins/litecoins) and they become the big players without any need of investors.

IMO the important questions are: Is the currency to be trusted and can we trust each other? - If one can earn a lot of money with WLC, paying some coins back is not a big deal and keeps the system stable (money in circulation). - The taxes from today are the earnings from tomorrow.. So much for the theory.

Rik

[rik8119]

Hi everybody,

i found that some transactions are taking a very long time to be included into a block. The problem seems to be that the demurrage is used as a transaction fee. Although this never was a problem during my testruns, there seem to be used some mining setups for WLC ming that dont support this kind of transaction fee. So i modified the client to include at least 10 satoshi as transaction fee. Windows wallet is also updated and can be downloaded from winc-ev.org.

Happy Basic income eastern everybody..  Rik

[iTradeChips]

rik my account has been approved now. i requested for a new password then an email sent me a link for password reset. then i land on a page to reset my new password but it still asks for the old password which i already forgot. what should i do? thanks

[benedictonathan]

A very interesting concept. Will definitely check this out! Thank you for sharing.

BenedictoNathan
ORA ET LABORA

[rik8119]

rik my account has been approved now. i requested for a new password then an email sent me a link for password reset. then i land on a page to reset my new password but it still asks for the old password which i already forgot. what should i do? thanks

Hi iTradeChips, sorry for the delay. There were a few other users that had reported that problem. But i can not recap the problem, so i can only guess whats missing. I see you have managed to enter your address. Have you used another browser or what had you done to enter the page?

Thanks Rik

[rik8119]

Hello World,

the block creation is slow at the moment because the mining power increased for a short time driving the difficulty up. The difficulty will decrease at block 53248 which will last quite some time if hashpower is not increased.

Rik

[iTradeChips]

hey rik how come my wallet dont receive any basic income until now? i joined since last month.

[rik8119]

Hi,

WLC basic income is always payed at the beginning of each month. What counts is the date of setting up your WLC-Address in your account. Many users set up an account, but do not fill their WLC-Address, so i check only once the first day in each month which WLC addresses are there. And i can not pay the income for month in the past.

But of course your case was different, cause there were technical issues so i send you the WLC

Txid: 9f810a016d89f6f3ef8610e65561ccaac49a9460f7ee0a87c4e15fd31a063e06

Greetings Rik

Additional Note: I believe C-CEX is using the standard wallet settings to send transactions. As described earlier that prevents the transaction to be included inside a block. I tried to send them a personal message but i do not receive an answer. As soon as i clear this case i write again.

[iTradeChips]

Hi,

WLC basic income is always payed at the beginning of each month. What counts is the date of setting up your WLC-Address in your account. Many users set up an account, but do not fill their WLC-Address, so i check only once the first day in each month which WLC addresses are there. And i can not pay the income for month in the past.

But of course your case was different, cause there were technical issues so i send you the WLC

Txid: 9f810a016d89f6f3ef8610e65561ccaac49a9460f7ee0a87c4e15fd31a063e06

Greetings Rik

Additional Note: I believe C-CEX is using the standard wallet settings to send transactions. As described earlier that prevents the transaction to be included inside a block. I tried to send them a personal message but i do not receive an answer. As soon as i clear this case i write again.

How come i only got 1 WLC? your website says Basic income is 1000?

[rik8119]

Hi iTradeChips,

its 1000 mWLC, so 1 WLC is correct. Can you please post a link where i wrote the amount?

Thanks Rik

EDIT: C-Cex answered they added some tx fee, so withdrawals should work without problems.

[rik8119]

Hello world,

as mentioned earlier there are some transactions not included in a block.

So i put a small bounty out for the miner that include the block.

The transactions are:

d3d6b738da12464f795c7e3159c942250fcc587e56f59a2d8a09530f04cb16c9

2aee2b1cc083387d39c6d086eceb85a4c9170e79b0559e29b7c392b192a4a3d6

I think there are more, but i think that including those two will include the others too.

I suppose 500 NXT and 5 WLC for the miner that includes the transactions.

Rik.

[rik8119]

Hello world basic income for may is payed, have fun.

txid: 50623e5ec6d3e5d18a35603ba403688691393f14ce5e2bb7764ca148a983aae6

[rik8119]

Update:
I set up a blog for WLC where i will post news and additional Informations @ wincev.wordpress.com and a bounty post to summarize the open bountys.
Many greetings Rik

[rik8119]

Hello World,

IMPORTANT NOTE: WLC will get delisted at C-Cex.com.

I asked the C-Cex support what it would cost to keep the exchange running. The cost will be at 0.72 BTC/year (0.06 BTC/month) in trading fees. That seems too much for me alone to pay for a service that only a few are actively using.

Alternatives right now are:

1. The Freicoin community is already testing a small exchange for FRC/WLC/BTC. So the idea is to spend time to get it online ASAP.
2. Not excluding the first, but if there is the need for an exchange i could pay Yobit for adding WLC.

What are you thinking about the issue?

Rik