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I do not fundamentally understand this. They seem to just jump straight to the outcome: "Everyone get's a dollar a day" without worry about the details. It see

by anm89 5y ago

I do not fundamentally understand this. They seem to just jump straight to the outcome: "Everyone get's a dollar a day" without worry about the details. It seems like the plan of this coin is to print 8 billion a day indefinitely. What's the incentive for anybody to hold it or for vendors to accept it given that it's stated goal is to print itself into oblivion? Maybe this is like Sam Altman's thing where the real game is to create some kind of global surveilance database for every human buy handing them a dollar? Is this actually that same project? It's going to be revolutionary when we can sell targeted ads to some tribal person in Kenya or Laos to convince them to spend the $ someone just handed them on some online casino mobile game.

glocoin 5y ago
> Maybe this is like Sam Altman's thing...Is this actually that same project? No, that project is called Worldcoin. We share the goal of trying to create a UBI, but have a different approach. For starters, we're a non-profit and our token has no pre-mine. We believe that that is the correct model for a project like this (for various reasons, see draft whitepaper [1]). Second, as far as we currently know Worldcoin doesn't aim for their token to be stable/slightly inflationary in value like GLO. We think a continuous, weekly income that won't go up in value per token is a better fit for a UBI that tries to alleviate poverty. Poorer people have a more urgent need to spend, so they can't hodl. Third, Worldcoin is tech. We are an economic model carrying a monetary policy, which could be implemented on any (or multiple) networks / blockchains. We're looking to develop as little tech as possible ourselves. More extensive comparison between Worldcoin and Global Income Coin in the whitepaper: [1] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfoSniHI8Ri_3gRYYoWXi0/edit https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...

by anm89 5y ago

glocoin 5y ago

> Maybe this is like Sam Altman's thing...Is this actually that same project? No, that project is called Worldcoin. We share the goal of trying to create a UBI, but have a different approach. For starters, we're a non-profit and our token has no pre-mine. We believe that that is the correct model for a project like this (for various reasons, see draft whitepaper [1]). Second, as far as we currently know Worldcoin doesn't aim for their token to be stable/slightly inflationary in value like GLO. We think a continuous, weekly income that won't go up in value per token is a better fit for a UBI that tries to alleviate poverty. Poorer people have a more urgent need to spend, so they can't hodl. Third, Worldcoin is tech. We are an economic model carrying a monetary policy, which could be implemented on any (or multiple) networks / blockchains. We're looking to develop as little tech as possible ourselves. More extensive comparison between Worldcoin and Global Income Coin in the whitepaper: [1] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfoSniHI8Ri_3gRYYoWXi0/edit https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...