Many people are asking me about Manna and why I am so high on it. My bullishness stems from a similar point as STEEM; Manna is Cryptocurrency 2.0.
What is Manna?
In simplest terms, Manna is a token that was designed simply to give to people. I call this "Proof of Breathing". People do not need to buy in nor do is anything. They simply sign up to receive the tokens. Think of it as an airdrop on a weekly basis.
To sign up and get the tokens you are entitled:
Many feel this falls under the basic income category but, as I wrote about yesterday, tokens themselves are going to be a basic income for people. Tokenized incentives will exist everywhere. Manna simply is a token that establishes a baseline where everyone is guaranteed tokens.
For that article:
In my view, this is a central premise of Cryptocurrency 2.0. Getting tokens into the hands of people who are not going to buy them will ensure the exponential growth and revolutionary impact that blockchain technology will bring. Cryptocurrencies are App 1.0 on the blockchain, similar to how Email was the first widespread app on the Internet.
Like all blockchain tokens, the pool of tokens released is fixed in the blockchain. It is akin to the reward pool on STEEM, the amount of SP doled out daily is determined by the blockchain. Hence, in both of these situations, the only question is how many people the tokens are distributed to.
Before going any further, I must explain Metcalfe's Law. In simple terms, it basically says the value of a technology rises in proportion to the number of users embracing said technology. Actually, the observation was actually applied to communication devices but I find it works well for cryptocurrencies too. In short, the more wallets out there, the more valuable a cryptocurrency.
So, with Manna, the basic factor in determining how high it will go, in the quest to achieve the goal of poverty elimination, is how many people are receiving the currency. Remember, the distribution plan is set; the same number of tokens are being doled out. Therefore, the more people who sign up for this program, the greater the success it will be.
That said, why am I so bullish on this token?
To start, I really believe in the project. However, from a more practical aspect, it simply comes down to understanding how people relate to currency. This all starts with the question why do people in the United States use the Dollar as compared to those in Europe using the Euro? The answer to that is because people use what they have. In the US, people are paid in USD while those in Europe (minus the UK) are paid in Euros.
Therefore, I foresee a future where people have Manna coins. Since they are given out universally and freely, people all over the world will be in the distribution pool. Eventually there will be 50M-100M wallets all getting tokens on a weekly basis (that is the goal). Therefore, we should see an incredible appreciation in the price of the token.
For those who are unaware, this project is a couple years old. It went through a pilot phase where over $100K (at $.002; it is now $.0107) was distributed during the year+ it was in effect. This past September, the pilot program was shut down so that alterations could be made. Originally called Grantcoin, this was traded under the symbol GRT (you can still see it on coinmarketcap.com) and is now being renamed Manna. This website was totally rebuilt showing the updated path of where the organization and token is going. Finally, new wallets are going in place using the latest peer-to-peer wallet system.
If you want a bit of information on the history of this program, you can read up on grantcoin.org.
Now we are at the point where distribution is about to start. In the next couple weeks you will see:
The full signup and verification process for receiving Manna UBI on Mannabase.
Our new white paper, which is nearly 30 pages long.
New Manna-branded desktop wallets, completing the name change of the currency.
Our first educational video about cryptocurrency and Manna.
http://www.grantcoin.org/2017/12/30/exciting-times-a-year-end-message-from-our-founder/
When we start to put crytocurrency in the hands of the average person, that is when we will see this entire arena absolutely explode. Manna, like STEEM, is a token that people do not have to buy in. I cannot stress that enough as a determining factor of success going forward. Since achievement is only determined by getting the token in the hands of people, since we know they will use it once they have it, in my view, success is almost assured. Over the next year, we will see the developers create a series of advancements which will make cryptocurrencies a lot friendlier and flexible for the regular Joe/Jane. This works out very well for Manna since it will already be in their wallets.
Finally, the most wonderful aspect of all this is that, along with the crypto market in general, we will see the end of worldwide poverty. People are going to have a lot more options when we put currency in their hands.
So join my on this journey...together we can make this as big a success as STEEM will be.
To be receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following:
Pictures by Google Images