You are viewing a single comment's thread from:
RE: Manna Update: The Time Is Almost Here
While I like the idea, it annoys me that there are referrals and that you post a referral link. If you start out with 100x the amount of basic income than everyone else I feel like it kind of defeats the purpose don't you think? Also, how will this be different from SwiftDemand?
Swiftdemand is also centralized, which they claim is a good thing, but I fail to see what the point is. They could have started such a platform years ago. No, just seems like jumping on a coin bandwagon. I'll admit to certain things being easier when it's centralized but that's just not something I can put my trust into.
At least with a decentralized setup, we don't have one point of failure.
And about referrals. I'm going to be referring for sure. I am pretty excited about the concept of this coin.
Ok, makes sense for it to be decentralized instead of centralized, but what is happening with SwiftDemand is that the money doesn't really have true value. How will Manna get its value? Its said that it is a "traded token", but it is only on one exchange and has a marketcap of $500,000. If they start giving it away to everyone, I imagine that is going to drop pretty quick. Then it's all over.
Depends. Plenty of other tokens have a set amount of inflation. I'm not sure how this one is expected to bootstrap its value so that is a good question. It needs to build incentives for money to go into the system. My guess is that it would attract money from people wishing to donate to charities, since that appears to be the focus. But I don't know.
Or perhaps it has good enough properties as a standalone coin.
It is different from swiftdemand in that it is already a traded token....it is already a blockchain of with 1M blocks, and there was already $400K distributed over a year and a half period.
As for the referrals, how would you like them to spread the word. And the bonus paid on referrals is only for one year on a direct sign up.....
So I take it you arent going to use your link to refer anyone to the program?
In my opinion, they don't need referrals because they are literally giving away free money. What worries me about referrals is that it means that everyone isn't on even footing. Referrals in this case undermine the idea of universal basic income. I understand that you are just trying to get the word out, but I disagree with the developers on this referral bonus promise.