Just got one of those Viva crown things, Am I a King or a sucker?
(Images obtained online..)
So Steemit, and I a sucker or a King? To be honest I feel more like a sucker, but we'll see where this goes.
Things I know:
Viva crowns are very limited and only one crown will be made per week by worker nodes solving the Traveling Salesman problem
Crown holders are sort of analogous to Steem witness in that they can make important decisions regarding money printing and awards and other things
There is a block chain in there somewhere that uses Hyperledger fabric, which is not a blockchain but more of a blockgraph or blockweb. This is the part that fascinates me the most. The thought of having 2D block structures is pretty mind blowing.
Viva makes the promise to pay retirees a living wage. Yea I'm pretty skeptical on this point.
I read the white paper, but I'll freely admit I'm very fuzzy on how this whole thing is going to work.
This pretty much sums up my investment strategy.
I'm quit tracking this a while ago. Every day at least one new coin or project. In my opinion this is not good for crypto space. It'll be so many failed coins and people will not trust even existing ones any more. It's very time consuming to keep track and research all of them. And where to get money? Better just buy steem and power up.
Quite to the contrary. Think of each one like it's own little experiment. It's exciting to see what everyone comes up with. This is the first time in the history of the world we've been able to democratize money and wrest back the power from the 1%
I welcome everyone that's making a sincere effort to change the world in a positive manner. Whether you invest in VIVA or not, consider looking at some of these great little projects and evaluating them on their merits. You might find one that just "clicks" for you.
Steem is good too, but don't keep all of your eggs in one basket.
I'm kind of old fashion guy. Will see how it'll play out. I'll take a risk and stick with steem. I have just one egg.
Steem is good, I like steem. I just wonder what happens to it when Dan announces his next big thing.
Do you also wonder what happened to bitshares when Dan announced Steem? Cause not much happened and according to the price BTS is thriving.
Agreed, but the point was about all eggs in one basket and bts is more like a several. Anyways, it's an honest question. Dan's gotta have something up his sleeve. I'm planning to jump on that bandwagon and buy some. @oldtimer says he's happy with just his Steem. So the question cut two ways there.
Yeah, I agree its never good to have everything in one basket - although I myself have been the same way the last year and had most of my assets in Steem I wish I had been able to diversify it now looking at recent pumps, even to have been able to put it all back into Steem now it would have been a smarter decision to do.
He's genius, but people are disappointed with him leaving steemit. They not gonna just jump on his new project that easy. He could abandon it any time. He did it twice already. People are not stupid.
Good to see you here, can you please explain the benefit of the VIVA CROWN, and what is the difference to the other Viva coins? I still don't get it so far, thanks.
VIVA is not just a new type of crypto-currency to ride the Bitcoin wave, but something much, much better. Money is power and VIVA is an entire digital economy meant to give power back to the people.
VIVA is set up to be a stable economy. In this economy are three tiers to the VIVA currency: VIVA Crowns, VIVA Coins and VIVAx.
Every 90 days a VIVA Crown will produce a Treasury Right (TR). The TR gives a VIVA Mint the right to mint a certain number of VIVA Coins. The amount of Coins will be determined by the consensus of the Crown Holders and based upon the market.
VIVA Coins are the currency which will be intended to trade at a target value -/+ 10% and can be held for retirement in the VIP (Viva Investment Pool). This target value is intended to represent 1 hour of a living wage in a first world country. Currently the average annual living wage is approximately $48,180. This is divided by 365 days of the year and then by 24 hours in a day to reach $5.50 USD. As the living wage fluctuates, so will the target price of VIVA Coins.
VIVAx is the currency which will be pegged to and used like fiat in the physical world. Once VIVA Coins are sold for VIVAx, they hold the same value of x until sold or spent. The x can be US Dollars, Mexican Pesos, or other fiat which may be included in the VIVAconomy.
VIVA Coins can also be placed in the VIVA Investment Pool (VIP). The VIP has two settings: compound mode and retirement mode. While in compound mode, you can deposit VIVA Coins and it receives dividends, based upon how much stake you have in the pool. When you have grown your stake in the VIP to a level you wish it to be, you can put it in 'retirement' mode and you will draw the equivalent of a living wage (24 VIVA Coins) from it every day until it is either exhausted, or you switch it back into 'compound' mode.
When your bank charges you a fee, do you get any of that back - even if the bank makes a profit? Probably not. VIVA has very small transaction fees - and gives it back to share in the form of dividends to the VIP.
VIVA also has debit cards for your VIVA account. You can buy your groceries, order online, or even pay your taxes with your VIVA debit card!
Without getting too technical - I think that is it in a nutshell.
Please feel free to contact me with any further questions. You can also learn so much at http://www.vivaco.in , and by following @vivacoin and @williambanks, @badassbarbie and others like me who are part of this great project.
I also invite you to come to our chat at http://chat.vivaco.in and see what it is all about. Look for me there: moondancer762
Thanks for the answer, sounds very interesting. Two question's: So with a Crown i get some kind of dividends every 90 days, did I understand that right? And Viva coins in compound mode produce dividends as well? Sounds all a bit complex so far, I like to understand it in full before I am going to invest, thanks.Is there any Video which explains it?
You are correct, @elyaque, VIVA is very interesting.
The VIVA Crown produces a Treasury Right (TR) which gives a VIVA Mint the authority to mint VIVA Coins. A Crown Holder (a person who owns a VIVA Crown) can choose to run a VIVA Mint, to sell or lease TRs to VIVA Mints, or to do nothing with the TR.
If you, as a Crown Holder, decide to run a VIVA Mint, you can mint VIVA Coins which are to be used to settle between mints, or for paying worker nodes, etc. A VIVA Mint must be attached to a business, however.
If you, as a Crown Holder, don't want to run a VIVA Mint, you can lease or sell your TRs to a mint. You make money whenever a mint purchases/leases your TR.
If you do nothing with the TR, when it expires after the 90-day period, all of the VIVA which would have been produced by that TR will be placed into your VIP (VIVA Investment Account) - the retirement account - , and your VIVA Crown will produce another TR for the next 90 days.
Dividends are paid upon the VIVA Coins held in your VIP account. This is separate from TRs and anyone with a VIP account - Crown Holder or not - receives dividends.
True, VIVAconomy can be somewhat complex; but what economy isn't. This is one which is geared to give back to the people, not to make a small handful of people rich. This is a completely new concept from what we've all been used to. I can understand the confusion many people have.
Please, feel free to ask as many questions as you like. I would truly like to help you - and everyone - to understand.
Ok, so far I understood, two questions:
Lets say I buy 1 Crown and don't use it, how many VIVA coins I will have after 90 days in my VIP account ?
How many dividends you get for the VIVA coins per month?
Your answer lies in the market at that time.
If a TR authorizes 1000 VIVA Coins to be minted, then that many will go into your account at the end of 90 days; if 5000 are to be minted per TR, then that many will go into your account. It depends upon how many VIVA Coins are needed in the market to keep it within the target price.
The same with the dividends. If many transactions exist, more transaction fees are put toward dividends, for this is from where the dividends are paid. The healthier the VIVAconomy, the larger the dividends.
One idea of VIVA is that money is useless unless it is put to work. If someone put $1000 USD under a mattress in 1970, that same $1000 would be worth about $350 - in comparison to what it would buy. It would have been best to have invested or spent that money then than to have hoarded it.
Who works 365 days a year or works 24 hours a day for that matter? The average number of business days in a calendar year is 261 so
$48,180/261= $184.59/8= $23.07/hr living wage.
$5.50x8= $44x261= $11,484/yr not living wage
Poverty level is around 15K/yr
New coins are interesting to me..so long as they actually do something technically interesting and different. Just copying an existing coin and then branding with a cute animal, that sort of thing I can't stand.
I agree with you. I never see one in action yet, just a lot of talking.But I don't know nothing about this stuff. Just follow the common sense.
I gt one yesterday as reward for social media specialist work before the ICO. Now waiting for the TR to pop u pin July.
Wow @neoxian congratulations on joining on this! Welcome aboard!
I just gone in.
Am I a sucker now?
Feeling skeptical and fuzzy is fine! I just had this discussion with @stellabelle on Twitter a minute ago! Nothing is a sure thing and the crypto markets are not rational, that's what makes it exciting to research and get into, with money you can afford to lose.
https://twitter.com/KennyCrane/status/858702494217719808
My advice, which is my opinion and I am not a financial adviser - go to https://www.tradeqwik.com and get a little VIVA and VIP (Viva Investment Pool) tokens which earn interest. Diversify! Many of us have a bunch of coins and its time to rebalance with some new things with potential.
I'm glad you did decide to get in, welcome to the Crownholders club!
Disclaimer: I am just a bot trying to be helpful.
How much do they currently cost?
Pretty much near to a full bitcoin, so not cheap.
That's a bit pricey for me. Good luck
A crown or a clown .
Someone told me all in.
Better be good
Wow that was almost a haiku.
You are King!
Congrats for the crown ! I see a lot of posts about this VIVA but not really convinsed yet about :)
Your is the best @neoxian
Cool post, Resteem
I guess you are an risk taker with an eye to interesting developments. That is more closer to King than Sucker.
If you would have the knowledge to run nodes, and I would have the funds available, I may have bought one of those Crowns as well.
What I see as positive aspects of the story of VIVA:
Something to follow for sure.
Yea a risk taker. I like the sound of that.
Interesting to see who joins Viva from people I trust from here - however I do not really get how this will work to be honest.
In what sense?
In every sense :-)
They have BIG plans, they will have challenges with the 1.000 ATMs. They state they have deal with Mastercard, so they have debitcard. Blogging site a little less issue now Steemit is open source; They could take that source code but need to re-write part of it since they plan to implement a different coin distribution; Exchange, they already have. Yes, a lot to do for them! But maybe they can pull it of, I don't know indeed :)
So very much still in planning? I joined a coin some years ago - they had BIG plans too, they even flew in a lot people from Europe to Asia for meetings etc - in the end they f...ed us all and my money was gone. They are telling an interesting story.... but I am not a Believer yet if you know what I mean.
I'm the same, I think they will have tremendous challenges. For me not a coin to invest in at this point in time :)
Yeah - the people driving and supporting it seem all good people - we will see and watch :-)