Community Announcements
Hello everyone!
Today, the community must make some decisions that involve everyone’s coins.
In a moment, we’ll ask for your vote.
But first, some background information. As always, we’ll start from 30,000 feet and drill down
- The empowr mission is to empower people by enabling opportunity, hope and influence for the masses.
Our goal is to serve half the world’s population – including those currently living on $2 or less per day -- by the year 2025:
- To serve that many people, we must grow our coin supply as follows:
- To successfully serve 4 billion people with the limited coin supply as shown above, we’ll want to grow the value of our coin approximately like this:
Have you noticed how stable the “empowr coin value” line looks?
Have you wondered how we are planning to keep the price growing in such a stable manner – when other cryptocurrencies have shown extremely volatile prices?
For example, look at how volatile Bitcoin is:
Or look at Ethereum – this graph shows how volatile the price has been in just the last 24 hours – dropping 15% -- from over $700 to $600: (the green line show ETH to USD):
So, how is it that we’re hoping – and working -- to have a very stable coin, when other cryptocurrencies experience so much volatility?
The answer is that, unlike most coins, together we have been building an entire economy behind our currency, meaning our currency has real use -- utility -- today.
Most coins only have speculation behind them, meaning people are only buying the coins because other people are buying the coins!
In other words, everyone is simply hoping that the price of those coins will go up, so when there’s even a hint of bad news, everyone rushes to sell because there’s simply no other reason (other than to make profits) for them to own those coins.
(If you’re worried that others will want to sell, you rush to sell before they do. That’s what is causing so much volatility).
In empowr, however, in the future if/when there’s ‘bad news’, there are many things that would stop everyone from freaking out and rushing to sell, including their marketplace sales and purchases that are in motion, the maturation of everyone’s coins in the empowr wallets, and a whole lot more.
To learn about the empowr community’s innovations around stabilizing the price of the coin, you can watch this video.
Why does stability matter so much?
Having a stable coin price (that’s not going up and down by 20% or more every day like Bitcoin and Ethereum often do) allows our community to FOCUS.
In a very recent post, we discussed the importance of focusing on building the empowr economy and our personal networks in empowr.
If the price of our coin is going up and down by a lot all day long, it will make it harder for some our citizens to focus.
And it will certainly make it more difficult to know how to price our products and services that we all list to sell in the marketplace.
And that’s why stability is so important to the success of our mission.
OK, so our coin has been live on the exchange for 6 days.
So, how’s the stability been going so far?
We’re off to a good start.
The first day was volatile, because our citizens were buying and selling a lot of coins, as we all set out to create some volume on the exchange. Nice work again on that day, everyone.
As the first day settled down, the coin ended up at 26 cents per coin.
Every day since, we've seen a nice and stable increase:
So, what are the goals?
We’ve already discussed a community goal of $1,000 per coin for the year 2025.
But what about shorter-term goals for, say, 2018?
Or for next month (May)?
Or even for the end of this month (April)?
Our goal is to continue to grow the price of the coin smoothly every day and week, keeping it as stable as possible, with the following targets:
· We would like to grow the value of our coin by about 33% (from yesterday’s price of $0.40) to around $0.53 by the last day of this month (April) – 4 days from now.
· Our goal for the end of next month (May) is to be above $1 per coin. Yes, that’s more than double from where it is now.
· We want to close this year (2018) above $5 per coin – over 12 times more than the current price.
We’ve built a lot of technologies and systems meant to stabilize the coin price.
Is there anything else we can all do to stabilize the price of the coins?
For example, can the empowr community sell more coins if the price starts to go up too high above our targets? (Remember, we don’t want volatility – up or down).
Yes, that’s exactly the idea. empowr has purposely ensured that it will have a lot of coins to use in exactly that way.
But what if the coin prices go too low?
Can the empowr community (including the company) buy coins to reduce supply and bring the price back up?
Yes, exactly. We all benefit from buying coins when its price is down.
How do we benefit?
Not only will we all benefit by protecting the price and stability of the coin, but we also benefit individually by buying when the price is low and selling the coins when the price is higher.
Is this legal to do?
Absolutely. We have been very up front and transparent about our need to mint more coins, and exactly how we will be using those coins.
There is nothing wrong with attempting to stabilize the price of our coins:
We can and should sell coins strategically, so that we’re not selling too many and pushing its price down below our targets.
And there’s also nothing wrong with buying coins back to increase its price.
Does empowr guarantee that the price of the coin will grow by 33% by 4 days from now, and more than double to $1 by the end of next month?
empowr can make no such guarantees. As a community, all we can do is use some of our coin supply, resources, and efforts to keep the coin’s price stable and growing per our goals.
But given that the empowr community can sell millions of coins (thus helping ensure the price of the coin doesn’t go or stay above the goal)...
... and can also buy back supply (thus ensuring the price of the coin doesn’t fall or stay below the goal)...
... doesn’t that mean that empowr has 100% full control over the coin’s price?
No, because the resources available to empowr (coins to sell -- or funds to buy back coins) will never be unlimited.
That’s one main reason we will never absolutely 100% guarantee the price of the coin will grow exactly along the goal line.
So, you mentioned that we had decisions we need to make. What are they?
Now that a starting price has been established (26 cents ending price on launch date) and therefore it is now possible to set a daily goal by drawing a line from the starting price to the $1,000 per coin goal, we can now more closely analyze the supply and demand factors.
Let’s take a look:
As a reminder, as a way to say “Thank You!” for bringing empowr this far, the community decided to give away -- for free -- hundreds of millions of empowr “founder” coins to everyone involved (citizens, success coaches, employees and advisors).
Those coins will soon begin pouring into the circulating supply.
Analyzing those numbers, and looking at the coin’s current price and goals, we feel confident that we’ll be able to achieve our stability goals, if the community agrees to the following suggestions.
(Note: These are just suggestions. If the community decides against these suggestions, we will NOT go forward with them).
We suggest:
- We suggest that dormant accounts that were given founder coins, will need to have 1-year maturation.
In other words, for our members that are no longer active, but showed up just to get their free founder coins, we think asking them to wait one year is a very fair request.
Why?
Because it benefits them (as well as everyone else) because if they don’t agree to doing that, and the price of the coin collapses to near-nothing, there’s much less benefit to them in having these coins anyway.
We can define dormant accounts as those that are inactive, meaning not hitting their daily goals the majority (over 50%) of the time, causing their power level to drop.
We also suggest a 2.9% monthly fee on coins and pre-coins on dormant accounts. This is to encourage everyone to be productive members of the empowr economy. Taxes collected will be used to increase the size of prizes on the mission wheel, further rewarding the citizens that are productive.
- In the short term, we suggest placing a cap on the total number of coins that vest monthly – but only for the top 1% of the top 1% of our citizens – the ones that received the absolute most coins for free.
Here again, these are the citizens that have the most to gain (or lose) by the coin’s value rising to high prices (or sinking to low prices).
It does them no good if everyone rushes to “transfer out” their coins, only to see the price of their coins collapse to the floor.
Specifically, we are suggesting:
A. For May 2018, placing a cap of 500 coins per month for Founder Coin vesting
Because founder coins vest at 1% monthly, this 500 coin monthly cap only applies to the top 1% of the top 1% of empowr citizens by founder coin ownership: Those that own 50,000 or more founder coins.
If you have less than 50,000 coins, then this cap has no effect on your vesting.
B. Placing a cap of 500 coins per month on the other (non-founder) coins that were provided as part of the 1 to 15 coin conversion.
Those citizens with less than 500 (non-founder) coins in their wallets would not be affected, obviously
So, as an example, if someone has 1,000 (non-founder coins) those coins would all be vested in only 2 months (May and June).
C. Those two (2) 500 coins caps would increase each month going forward. We suggest that the caps be raised by 100 coins each month, in perpetuity. That means that June’s caps would be 600 coins; July 700 coins; August 800 coins; etc.
So, if you are subject to both caps, you could vest 1,000 coins in May, growing to 2,000 coins each month by October (1,000 coins for each of the 2 caps) and further up each month.
Of course if there’s an opportunity to increase those caps more quickly (if the coin price and supply are showing that it’s OK to do that) we will do that. Conversely, if we see a need to lower the caps (for the same reasons) we’ll always discuss that with you before taking any such action.
To absolutely ensure we are very strong on the supply front, the numbers strongly suggest that vested coins must go through maturation. This will make a world of difference in the number of coins that get consumed in the marketplace by everyone buying each other’s products and services.
Again, the objective of all these suggestions is to have our very best shot at growing the value of the coins in a very stable manner, to maximize the value of your coins for both the short and long-term.
And to be super clear: If the community agrees to these suggestions, these rules will only apply to founder coins as well as coins that got the 15 times “Thank you” multiplier.
Going forward, ALL new coins earned in every possible way would have no limits, caps, vesting or any other such rules outside of normal maturation.
Again, these suggestions only came about due to the nearly 1 billion coins that are going to the community -- mostly for free – so they only apply to the past.
Would these suggested rules apply to everyone?
If we agree to these terms, would the rules apply to everyone, or would there be an exception made for anyone -- such as for empowr success coaches, advisors, employees or founders?
Of course not. As always, we’re all in this together, and the success coaches, advisors, employees and management would not suggest anything to you that they are not willing to do themselves.
What else can everyone do to help stabilize the coins?
It depends on how much you believe in this community.
If you believe in the future of the coins, and have the ability, buy coins!
The more you buy, the more you benefit, especially as (if) we hit the goals stated above.
The more people that buy our coins, the better. Why?
The more people that buy our coins, the easier it is to stabilize the coins, as we’ll have more funds to buy back coins when needed.
And the more stable the coin, the more people will want to buy it. Who doesn’t want to grow their money in a stable, stress-free way?
That means that people buying coins leads to stability; and stability leads to people buying coins...
... a beautiful self-solidifying upward cycle that takes us all the way to accomplishing our short-term, long-term and over-arching goals -- and mission.
Tell your friends
So tell your friends that have money, to buy empowr coins. I’ll bet that they would love to double their money by the end of May, or grow their funds by 12-fold by the end of this year – but again, that is not guaranteed.
Again, to reiterate, there can be no guarantees, and I hope that, by now (after all our discussions) you’re aware of the risks. Please make sure that they too, like yourself, know that they should never purchase coins with money that they cannot afford to lose.
But now that, in this post we have published our short-term (April, May and end-of-year 2018) goals for everyone to see, we should all be rushing to tell our friends about this opportunity.
Why should they rush?
Because the coin price growth rate (as set by our goals) will of course be slowing down in the weeks, months and years to come – meaning (If you believe we will accomplish our goals) the best time to buy the coins is right now – before the coin price is hopefully higher -- much higher.
I understand that empowr cannot guarantee any future price for the coin.
But how confident do you feel that, for example, the price of the coin will rise to, say, $1 (more than double the current price) by the end of next month (May)?
We feel confident that, given the low supply of coins currently in circulation and the resources currently available to empowr (to buy back coins if the price sinks below targets) that we can hit the $1 price.
To be clear, as many of you are witnessing on the exchange, the vast majority of offers to sell coins are already priced well above $1. It has been taking a lot of selling coins (by empowr) to keep the coin’s price on the target line.
(That fact says a lot about you and this community, by the way. It says a lot about your belief in empowr and the coin).
And congratulations to those of you that have been buying coins starting at the end of day 1 ($0.26)... you’ve already seen your coins appreciate by 50% in less than a week.
(Of course many people bought a lot on launch day and are receiving a whole lot of founder coins, which helps drive down their overall blended price. A big thank you again for your belief and contributions to the mission and health of the coin)!
The future is bright
According to Coinmarketcap.com, assuming the goals mentioned above are achieved:
By the end of next month (May 2018): the empowr coin will be the 35th most valuable coin
By the end of this year: the empowr coin will be a top 10 coin
By next summer: the empowr coin will be a top 5 coin
And in less than 2 years: the empowr coin will be the 3rd most valuable coin after Bitcoin and Ethereum.
That's comparing their current value to what ours will be as we achieve the goals mentioned above, taking into consideration the circulating supply of the empowr coin on those dates.
Keep in mind that, by those dates, the value of those other coins will be going up or down; if you ask me, it will be down for Bitcoin given the technical (lack of scalability) and logistics challenges (such as the transaction fees) in front of it and the fact that there is no company responsible for addressing those issues.
And there's nothing stopping us from revising our goals upwards as we succeed by successfully exploiting the decade and a half lead we have over those coins in building the technological elements, success coaching program, community and political system required to foster a cohesive and comprehensive democratic social economy.
As discussed in the post "The empowr coin is live - now what?" our success will depend on our ability to get and stay focused.
Summary
Our coin is live and off to a great start.
Everyone should be very proud of how the community came together to ensure the coin had a great launch day, and your efforts to push the price of the coin higher and higher are very clear on the exchange.
In analyzing the millions of coins that have previously been (fairly, and in a well-deserved manner) provided to our mighty citizens, it’s clear that – to maintain the stability of the coin over the weeks and months ahead – we all need to make some decisions as suggested above.
As mentioned earlier, we are in no way forced to follow these suggestions. If the will of the community is to not be as concerned about stability and supply and demand – especially as the millions of founder coins begin to pour into circulation, then we will do exactly as you wish.
Again, we are all in this together, so let’s all vote and agree to go forward with the majority sentiment.
In the comments below, please let us know your vote, as well as any questions you may have.