Difference between revisions of "Why Dailycoin?"

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Revision as of 15:11, 1 August 2020

Dailycoin, at its core, is not UX/XDL, that is, the cryptocurrency that is known as Dailycoin (XDL) that is deployed on the blockchain known as UX Network. Dailycoin is, above all, an idea, an ideal, a quest, a mission, a template, a principle, a strategy, a worldview. The UX/XDL crypto-currency system is one implementation of that ideal.

The crypto-currency Dailycoin (UX/XDL or, simply, XDL) was created to implement the ideal of Dailycoin, which is to allow a community of arbitrary size to coordinate worldwide to actually help create, through actions and through practice, a true and concrete Universal Basic Income institution.

Thus, the Dailycoin idea has the following lineage:

Democracy -> Economic Democracy -> The Universal Basic Income movement-> Crypto UBI -> Dailycoin -> UX/XDL

Dailycoin is also a descendant of Anarchism (a.k.a. "Left-Libertarianism"). That is key to understanding that Dailycoin aims to create a people-owned, actually-democratic institution. Anarchism and Left-Libertarianism understand that the ideal of Democracy is achieved only by creating structures that are actually and directly owned and controlled by people, and not by pleading for representation or voice before a higher social class. Either we have the democracy, and operate it directly, or we don't.

Dailycoin is the idea that, in a trade-based society, everyone must receive money every day, and that money must be sufficient to liberate that person from oppression from other humans that would otherwise be able to control, abuse, exploit them for their lack of money. Dailycoin is the idea that we must do that ourselves, by giving each other money, in such a way that those who have more trade value are able to quickly and easily transfer that value to those who have less. The Dailycoin strategy is to create tools, such as crypto-currencies, that facilitate that value transfer.

There are many millions of people in the world today that can be emancipated for life with a one-time $1,000 investment. In other words, the typical interest earned on a financial application of a principal of $1,000, can generate a lifetime Basic Income Guarantee (to the extent that the global monetary system itself can be guaranteed to function for private citizens) that will profoundly transform the life of one person. That is scientifically proven by the Quatinga Velho Basic Income Pilot. That is not an opinion. That is an actually-scientific, internationally-published result.

The wealth of the world belongs to us, to everyone, to the "99%". We have been claiming since forever that "We have all the power" and that all that we have to do is see it, and decide to use it for good, instead of letting us be controlled and exploited by a system that impoverished and exploits us, to maintain a hierarchical society. Well, with great power, comes great responsibility. Thus, if we have the power, we have the responsibility. So it is our responsibility to implement the institution of Universal Basic Income, from "the ground up". We will "finance" it ourselves. The capital that will back the Universal Basic Income that is ours and that is democratic, is our capital.

Thus, the Dailycoin worldview is a subset of the UBI and Crypto UBI worldviews, because it is additionally infused with Anarchism and Left-Libertarianism. It rejects "Libertarian" (Proprietarian, Right-Libertarian) and Neoliberal "Free Market" essentialism, in that it rejects the idea that the value of a currency is magically determined by an "outside force" (even if it is called an "emergent" phenomenon).

The Dailycoin ideal is strictly non-Neoliberal. We do not see humans as the Neoliberal "Individual". We do not see humans as fundamentally atomized beings that respond to behaviorist equations. Rather, we see the atomization and the alienation of people as a consequence of internalized Neoliberal ideology. That ideology has been violently forced on people. It does not model what humans are, or what they are capable of. Thus, Dailycoin is not backed by "economic theories" that assume people are Neoliberal zombies. Rather, Dailycoin is a tool that invites people to change their subjectivity, to break free from the behavior predicted by Neoliberal economic theories, and to prove to these economic fascists that we are alive, and that we have each others' backs, and that we are not afraid of them and of their "models".

Thus, the Dailycoin movement is about creating monetary spaces where this new "economic" understanding of the world can be practiced. All Dailycoin-compatible crypto-currencies contribute to building a collective and decentralized program of real economic liberation that is predicated on solidarity. All currencies that adhere to this definition of "Dailycoin" are creating a space of buyers, sellers and holders of the currency, that can know that they are sharing a specific tool that is used by people who want to subjectively change. In other words, "Dailycoin" currencies have communities of users, of people, who are using those currencies precisely because they want to think, feel and be different, to liberate each other's minds from Neoliberal domination, and hold each other into that space of liberation.

Any Crypto-UBI crypto-currency that is used by a community that understands this, is a "Dailycoin-compatible" crypto-currency.

A Crypto-UBI crypto-currency is built to distribute money and trade value to everyone. A Dailycoin-compatible Crypto-UBI crypto-currency does so with the understanding that the backers of UBI are the recipients of the UBI. We back each other, and in doing so, we are free from oppression and exploitation by hierarchical class structures.

The "Dailycoin" movement is a mind-transformation, subjectivity-transmutation, mass-meditation movement, above all. Money is the most powerful story ever created by humanity. We want to subvert the current hierarchical and mystified understanding of money. We want to re-signify money as a tool for good, and a tool for economic democracy, and a tool that helps us be generous and to coordinate in connecting to each other, instead of a tool that actively blocks us from doing those things. To do so, we must completely change how the tool functions, and what our relationship to the tool should be, which is predicated on what is our story, what is our explanation for the tool, and on our explanation of what people are and what they want to do.

Thus, we have created UX/XDL as a tool. The Dailycoin token, hosted on the UX Network, is a tool that functions in a way that is compatible with that goal. It is a simple monetary policy program that is programmed to issue one token per day to every person, forever, and all it needs, in addition to that simple ruleset, is a community of people who want to understand, to discover how to correctly use that tool to actually practice and implement an actual Universal Basic Income system.

The XDL currency is, mechanically, just like any other cryptocurrency. It can be issued, bought, sold, used (transferred), held and destroyed. The issuance rate is an "immutable" rule, that is, you can only break it if you can break the UX blockchain itself, and it causes O(N) (linear) inflation of the token supply, where N is the number of persons that have registered as users in the UX blockchain. Any user can choose to destroy (or merely hold) any amount of their own currency if they think that is going to help increase the value of the Basic Income of tokens that is provided by the network to all users. Any user can sell any amount of the token as they want, which will probably decrease the market value of the token. And any user can transfer any amount of XDL to any other user, at any time, for any reason, with a transaction cost of approximately zero.

And, finally, anyone can buy XDL in circulation with the kind of money we use every day (the US Dollars, the Euros, etc.), likely raising the unit price of the token in the currency markets, in real-time. And that is the sensitive operation, and where Crypto UBI tokens differentiate from all other Crypto tokens, and that is also where Dailycoin may differ from other Crypto UBI tokens in general.

Cryptocurrencies like Bitcoin have been sold as an "investment asset," like a digital form of gold -- given that physical gold has culturally been sold as an investment asset as well. The idea is that you buy the token to enrich yourself and to "protect" yourself. You buy them for yourself. You are not really concerned with others, which is why you don't want your "Bitcoin" to be diluted or redistributed to everyone else. This "accumulation asset" culture of Crypto in general is not compatible with the Universal Basic Income movement.

Crypto UBI tokens, on the other hand, subvert this egotistical logic that's behind the mentality of digital and physical "gold", and instead predicate economic development on social security. Instead of pitching people against each other for a scarce representation of economic rights, Crypto UBI aims to distribute tokens that represent those economic rights, to everyone, universally and unconditionally. But after it is all said and done with respect to the income distribution operation of Crypto UBI tokens -- after the tokens are given to people -- then the story of that token is no different than the story of every other speculative asset. That is, it is a good asset if the "Free Market" decides its value should go up, and it is a bad asset if the "Free Market" decides its value should go down.

The token holder is a consumer. They are a spectator of a predefined behaviorist economic model. The user of the crypto-currency, of the token, is a victim of a process that they do not consider to be any of their responsibility. They do not see themselves as one of many agents that are responsible to maintain that value. The value happens to the currency, and if the value magically goes away, then it means the currency is not working, and there is nothing they can do about it.

Dailycoin (XDL), and all Dailycoin-compatible Crypto-UBI crypto-currencies, are built to serve a community that understands that the "central bank" and the guarantor capital behind a Universal Basic Income program of any sort, or any mutual social security system of any sort, is their responsibility. There is no one else to pay a UBI to all if not the all itself. We are the payers and the recipients. It is our responsibility, and our benefit, and our institution. This world is ours. And the currency is merely a vehicle that allows us to build that reality.

Dailycoin is not built to be speculated on by a Neoliberal, egoic, isolated, atomized individual. It is a tool that allows us to serve the whole, to help create the world that we want to see and that we know is not only possible but absolutely normal, necessary, and inevitable. It is not a tool that allows an external process to provide economic security to everyone, but a tool that allows everyone, including every single user, to provide economic security to everyone. It is an entirely liquid, pseudonymous, technically secure, and globally-scalable system of mutual social security.

The users of Dailycoin are people whose goal in life is to work to increase the value (price) of the currency, in the understanding that this value is used for people all over the world to redeem a Basic Income of money that, although small, may be sufficient to save their lives, or the lives of people they care about, that can receive that money from them as a Dailycoin donation. A "Dailycoinist" is someone who understands that their personal responsibility is to think collectively. As individuals, we are weak, but when we support each other, we are strong. As individuals, we cannot stabilize the value of a global currency, but we can if we understand ourselves as a collective of individuals, instead of a bunch of alienated, isolated, and propagandized individuals.

Thus, the purchasing of Dailycoin is a serious operation, to be carried out only by adults. It is perfectly safe to use Dailycoin in all ways, except buying Dailycoin with "real" money. To purchase Dailycoin with other money is to be a guarantor, it is to work for the construction of a global social security system. It is to donate some of yourself to those who need what you are giving more than you need it. And thus, it must be done by adults, that understand the implications. Dailycoin should not be bought by people who approach it with the typical "Crypto" mindset, which is an extension of the hegemonic Neoliberal mindset and of the "Libertarian" (Proprietarian, Right-Libertarian) mindset.

Again, Dailycoin does not exist to "save" the individual "investor". It is not personal investment. It is a collective investment. You buy it to save the "all," in which you are included. But you must know what you're doing, because the current, existing world, is unforgiving with those who run out of "real money", of tradeable capital. And it is not yet guaranteed that Dailycoin (XDL) or some other UBI system will be there to have your back. Only donate to the Dailycoin system what you would be able to donate to any other cause, without compromising your own survival. Stabilize yourself first, so that you may be a stronger guarantor of the system in the long term.

And finally, although Dailycoin is not primarily built to be a "currency" or "real money," that is, to be price-stable, if it works as intended then it will inevitably become one. The price of the Dailycoin asset is bound to stabilize at some UBI level that can be naturally maintained by its community if the required subjective transformation happens across the entire user base and XDL spreads to a large user base. And, being price-stable, and being backed by a collective will, by a collective consensus on its value, the token can then be widely used as currency (money), which will directly connect the underlying real economy to it, allowing prices to be denominated in XDL with not too much inconvenience.

Thus, we can liberate this world from economic oppression by monetary deprivation, $1000 at a time. You can invest those $1000 yourself, and share the interest through the Dailycoin ecosystem. Every $10 you spend on buying Dailycoin in a given month is one Basic Income that is concretely transforming the life of one person, somewhere, for that month.