Get Paid for Exercising! Mine with Your Body using this Democratic system

ridertiger (40)in #cryptocurrency • 6 years ago (edited)

This is a different platform compared to other cryptocurrency solutions not only because it involves exercising, but also it has a different mining algorithm that promotes health as opposed to consuming electricity or holding currencies. This is called Proof of Exercise versus the bitcoin’s proof of work or Ethereum's upcoming proof of stake. You could definitely call this proof of Steak :) Instead of having large corporations or countries like China or North Korea mining a lot of money, you can, by yourself, can mine this currency using only your mobile phone. This way, the true potential of cryptocurrency in terms of being the most democratic financial system is realized. You can also have some basic income and do not need to be dependent on other entities for your basic necessities as long as you do your exercise, eat healthily and avoid luxury items. It is in a way, the dream of having everyone free from mandatory work and instead, work to improve themselves and the society. As stated by an author in the odysseyonline “The idea behind basic income is that everybody would be granted a livable stipend, no strings attached, for the purpose of stimulating and empowering individuals to contribute in new ways to the economy and betterment of society.” This is bringing us closer to a hopeful future like Star Trek, as opposed to a doom and gloom future like the Terminator. In addition to Proof of Exercise (POE), the platform includes heart rate monitoring, a cryptocurrency wallet, tokens and smart contracts.
Here is a music video explaining the platform and I find it very entertaining:

GYM Rewards (GYM coins) will be given to people who exercise by the patent-pending app. You will be able to redeem these coins at the participating gymnasiums to benefit from their perks, or better yet, you will be able to sell these in participating exchanges for real money. Well, first for Ethereum then the real money. The app basically tracks you exercising and your coins using your phone’s sensors. It is an all stop shop for the Gymnasium needs and you will not only be able to track yourself but also trade on the market. It keeps a record of your exercises on the blockchain so that it cannot be manipulated, it cannot be hacked, or it cannot be changed or stolen. It will be as private as it gets if you want that is, thanks to the blockchain. This system is a little different than your classic proof of work, so I will leave it at that. If you start exercising at the beginning of the program, you will earn more because later on, more people exercising will mean more tokens to be produced, and the law of supply and demand states that if something is produced more, or even if something exists in plentiful quantities, its value will be low. Therefore, people starting with this program early will have higher earnings. If you are reading this in early ICO, you are in luck, though you are getting a higher risk. Here are some initial estimates from the platform itself:
Running 10 minutes: .1666667 GYMs per Minute.
Running 1 hour: 10 GYMs per hour.
The platform will feature social networking similar to facebook so that you can use your social skills to find buddies to exercise with. The usual referral features will be present as well to give you rewards but this is a little different as you can report athletic events for rewards and have people download the app using your QRCode, which will earn you 0.5% off all participants and will keep earning as they exercise. You can also submit your local Gymnasium make money from all the exercise and mining they have on that specific Gym.
Here are some pictures of the app: