Visit the Dailycoin website for more information.
How does Dailycoin really work?
You already understand the mechanics behind the XDL cryptocurrency. And now you are wondering:
- For what exactly are my XDL tokens? What I am supposed to do with them?
- How do I actually use the XDL token?
- What is the XDL token actually worth?
- How does this help advance the Universal Basic Income (UBI) cause?
- How does this actually implement a Universal Basic Income system?
- What is the actual hard capital that backs the value (e.g. price) of the XDL cryptocurrency?
Dailycoin is, at its core, a Very Simple Wealth Sharing System. And so, fundamentally, there are only two things (operations) you can do with XDL.
- Buy XDL
- Sell XDL
When you buy XDL in the Free Market, the price of XDL goes up.
When you sell XDL in the Free Market, the price of XDL goes down.
You buy XDL when you want to share your wealth. That is, donate your capital to the network itself, which gives a UBI of tokens to every other user.
XDL always provides an unconditional income of tokens. Through its community of buyers, that is, of volunteer donors or backers, the self-distributing XDL token system becomes a system of self-distributing capital, that is, of actual trade value.
XDL is a worldwide, scalable, cheap, and pseudonymous method of monetary distribution. It is a 1-to-N Hawala system, where 'N' is the total number of registered users.
You sell XDL when you need wealth. If you run out of money that you can spend to buy the necessities of life, and you have XDL, you can sell XDL, and let the network of Dailycoin backers to help you out.
You do not have to ever buy XDL. Nobody is obligated to buy XDL. XDL provides a service to people who want to share their wealth, but do not like the existing methods available for them to do so.
Dailycoin allows multi-billionaires that claim to care about people's well-being to directly feed millions of people by simply buying the XDL currency with their billions, and thus proving that they actually care about people, with zero excuses of the "but there is no effective or practical way for me to meaningfully share my billions!! :-((("
Thus, the backing capital of Dailycoin is the influx of donated capital provided voluntarily by backers.
The price of one Dailycoin is whatever price level the backers are willing to keep it at. And the price level a backer is willing to maintain is determined in part by the price level at which they are not comfortable with people who they do not consider to be "in need" will be selling the currency at.
And this concept of "need" is important to be unpacked. Everyone needs a UBI, even if they have enough capital to survive. The UBI does not only feed people materially, but it also feeds them psychologically and spiritually. Dailycoin recipients that sell XDL for profit will be gradually converted into the UBI worldview. They are being paid to become aware of UBI and to let the concept of UBI transform them. If a UBI is to be a true UBI, then it must be made available to all persons that want to participate, without any sort of discrimination.
I am confident we can set a collective target of 1 XDL = 1 USD, for starters. Everyone should be OK giving 1 USD day, or 365 USD a year, to everyone, regardless of whether they economically need that dollar a day to help them survive or not.
Thus, we implement an actual Universal Basic Income system to the extent we can keep the inflow and outflow of capital balanced. Dailycoin allows capital to be shared among a planetary tribe, ideally to the extent that it allows everyone to stay away from economic poverty.
And even while we fail to achieve a sufficient price level or membership dissemination for Dailycoin, we are helping advance the cause of UBI by raising awareness, educating people, and forcing the corporate-state to talk about it and explain why it has not yet implemented it worldwide to eradicate poverty (they haven't because global Wage Slavery and colonialism is much more profitable for them, and they don't care about individual humans and poverty).