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Jörg Hohwiller edited this page Feb 23, 2020 · 36 revisions

Thanks

Thanks is the default currency of ThankToken. It has the following aspects:

  • Its value decreases over time

  • Each person can continuously create tokens according to strict rules.

Value

Value that serves the people rather than money that rules the world!

The actual value of a ThankToken in Thanks is not fixed but decreases over time (natural decay). The current value is calculated by a fixed formula influenced by the time elapsed since the ThankToken was created and the number of transactions that have been performed. For Thanks the formula looks as following:

value(token) = token.header.amount*(retain^age(token.header.timestamp))-(txfee*token.transactions.size)

With the following parameters:

  • token.header.amount is the initial amount of the ThankToken.

  • retain is the daily retain factor (1-natural decay) what is 0,9995 (see e.g. here).

  • token.header.timestamp is the creation timestamp of the ThankToken.

  • age(token.header.timestamp) is a function that determines the age of the token in days from its timestamp and the current date in UTC (stripping the date by truncating the time).

  • txfee is 0.00000001 (the minimum value that can be represented)

  • token.transactions.size is the number of transactions that have been performed on the token.

If you want a metaphor for this you can think of a ThankToken as a coin that erodes so its value decreases over time. So after one year (365 days) a ThankToken with the initial amount of 1 Thanks is worth 0.83314661 Thanks.

Creation

Each person creates new ThankTokens per day (see universal income):

With this approach every person is valuable and continuously generates value. Because of person income there is no more need for things such as unemployment benefit with all its complex regulations. As also other value is generated, this forms a potential earning for everyone what will result in jobs and additional earnings for everybody willing and able to work for it. The community income can be used for all kind of infrastructure and governmental projects. It is value from the community for the community. There is no need for VAT or income tax. As the value of Thanks slowly decreases over time (see natural decay) there is no need for wealth tax or estate duties. While everyone can still put effot to maximize his amount of Thanks and be potentially the one with the highes balance over time Thanks will slowly level out such inequality. However, unlike in communism, you will still directly benefit from diligence, earning and having more value. There will still be free markets and prices according to supply and demand.

Income

Every participating person can generate ThankTokens per day. A child can be represented by its parents or a person may be represented by a banking service company (that can generate the income). This income also replaces things like child benefit and honors one of the most important jobs of our society: upbringing of children. However, this is only good to a certain degree. We do have a problem of overpopulation and if children would immediately get the same income as adults this could create too much incentive for getting many children. Therefore children can only generate less value. Also adults joining from external (the current monetary system with Dollars, etc.) will start with less income. This is also a protection preventing joining externals exploiting the growing community without really participating.

Therefore each participant has a belongig that is a positive factor less or equal to 1, where 1 means you can generate 100% of the defined income (see below) and e.g. 0.1 means you can only generate 10% of it. This factor is not related to your performance but to your belonging and commitment to the community of ThankToken. The belonging is stored with his person identity so the income creation can easily be validated. It gets adopted every year when this identity is renewed. For simplicity you can assume that the belonging increases by 0.05 per year that you are part of the ThankToken community. However, it also relates how much you are still bound outside (owning land, traditional money, or other possession that you did not bring into the community).

Creation amounts

The amounts for the different income is defined by the following table:

Target /day /30 days /365 days

person income (P4)

32

0960

11680

region income (C3)

16

0480

05840

area income (C2)

09

0240

02920

sector income (C1)

04

0120

01460

world income (C0)

02

0060

00730

total

64

1952

23360

So roughly every participant wiht a belonging of 1 can generate an amount of 960 Thanks per 30 days (roughly 1000 Thanks/month). Also he generates a similar amount of Thanks per month as community income.

Balance projection

To get an idea of the balance for the income of the different levels we draw a projection if every human would already participate with full belonging to ThankToken. In average we assume a ration of 1:2 from children to adults with an overall population of 7.500.000.000 people on our planet. Hence the balances are estimated (excluding natural decay for simplification) by the following examples:

  • C3: 4.927.500.000 Thanks in total per year for a (crowded) region with 500.000 inhabitants

  • C2: 87.600.000.000 Thanks in total per year for a (crowded) area with 20.000.000 inhabitants

  • C1: 219.000.000.000 Thanks in total per year for a sector with 100.000.000 inhabitants

  • C0: 4.562.500.000.000 Thanks in total per year for the entire world

  • P4: 73.000.000.000.000 Thanks in total per year (all people of the world together)

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