SoLCerts is an example of using a token to represent a portion of the 1 trillion SSS Sollar bond fund. 10,000,000 SSS Sollar bonds will be represented through this (SoLCerts) token.
http://newmoney.sollars.com/new-money-funding-series-part-4-solcerts/
So these 10 million SolCerts represent 0.001% of a total 1 trillion bond fund?
(I don't understand bonds very well, to someone more familiar with limited crypto tokens, this pre-sale seems to be for a very small amount of future supply?)
Thanks for diving deep. Yes 1 SoLCert essentially equals one future Sollar through the Sollar Bond. But that is too complicated to explain to most people. At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin as we are trying to be a currency with it and not a commodity like Bitcoin or Bitshares. Our commodity is SOLCERTS and Sollar Bonds. That is more like Bitshares or a speculative asset. One can use SoLCerts/Sollar Bonds to speculate on the value of the future Sollar against the future Dollar. If you believe the Dollar will be here forever then no need to follow this project. If you dont then consider the vision and roadmap of our project. Read part 3 of that series.
Check out our General FAQs section too: https://medium.com/@sollarsandsense/new-money-faqs-2d5e8e730caf#.y7lew7tfa
Whether Sollars supply gets to 1 Trillion or 60 Trillion like the Dollars market cap will all depend on adoption of the currency by regular everyday consumers. It is my 10 year goal to get it to 1 Trillion. And to start on that path is with SOLCERTS and Millennials. We are issuing assets the same way Bitcoin, the US government and Bitshares issued assets to fund itself out of thin air. This is no different except that we are creating a mainstream alternative with a brand to actually take on the Dollar. So if you believe in a stable alternative to the Dollar then believe in this... or not. Either way people participating in our pre-sale are essentially buying into that mainstream currency supply now through SOLCERTS. And if we are successful you are going to be glad you did. Hope this info helps.
Thanks, I appreciate the explanation.
At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin
Given that a SOLCERT is a future Sollar and Sollars will be unlimited in supply, I'm still uncertain how the value of my investment will dramatically increase through adoption but I will look into it more at the links provided & hopefully understand it better.
The closest model to what you are offering via Solcerts that we have in crypto at the moment is Nubits. (Nubits, like Sollars and Sense are a stable unlimited supply coin, in their case pegged to the value of USD. https://nubits.com/)
The issuance of NuBits is controlled by NuShares shareholders. https://nubits.com/nushares/introduction
Most traditional investors (crypto or otherwise) would be much more interested in investing in and owning the underlying company, that issues Sollars, while mainstream would be more interested in owning & using NuBits/Sollars (Which a SolCert entitles you too.)
How does someone become a shareholder in the underlying company behind New Money?
(How does someone besides you get to have a say in the issuance of new Sollar bonds and what the received funds are spent on?)
Or will that come later? Thanks.
This is a hundred times worse than anything else I have ever seen*.
1.At least Nubits did not start by selling Nubits first and keeping all the actual shares NuShares (fed chairs) by a single person.
2. At least Nubits did not aim for selling 500K Nushares at different prices (different prices for a stable currency…. But hey this is just one of many inovations in the ‘new money’).
3. At least Nubits did not hide the fact what you are buying, well buried in the sale's pitch.
4.At least Nubits founders had a clear idea and reasoning (be it backed by a wrong theory) behind their model.
5. At least Nubits were not let by a film maker who believes that having a vision and a dream is all that one needs to call himself "Vitalik and ByteMaster" and the best man to lead a tech project as a result of that.
My utter disappointment is not with this project though. My disappointment will be if BM does not come and say something AT LEAST as soft as - "Guys you should seriously reconsider putting this on a more solid ground". Unless he does so he would have lost total respect by me, for being soft indecisive leader. One might even call him 2 faced when it comes to project on his platform as opposed by somewhere else. This has all the writings to be a total train rack and him expressing some caution regarding it is the least he can do to prevent bitshares being a collateral damage in this.
PS
Well,
at least my conscious is clear now . I put it here, you read it and you are warned. The rest is up to you.
I have been wrong more times in my life than I have been correct…. But this thing is such a utter nonsense that I simply cannot be wrong… unless I have been moved to a new parallel reality where the nonsense is the only thing that actually makes sense.
PSS
Since writing this response several days ago I have run into several other things that boggle my mind….
So the “worse than anything else I have ever seen” statement has a good rival now, fighting for the number one spot in my list.
PSSS
BTW Emperical + 1 on all of your later posts after the one quoted. My mind is so overwhelmed by enormity of the illogicality of this thing that it literally stops me in my tracks when trying to explain the 200 ways it makes no sense what so ever. I am glad you have the mind to calmly handle such a giant yarn (what yarn stupid tonyk… it is not a yarn it is a not -interconnected pile) of BS.