Crypto Oligarchs | Table O Contents
Most fledgling crypto currencies of any worth fall quickly into the financial Dynasty Trap …
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First Subtitle
Hint. The block chain is a form of Distributed Ledger Technology that facilitates incorruptible transactions between disparate parties irrespective of what product or service the parties have decided to consummate.
More to come …
Two Coins
One of the coins expected to hit the market in 2025 via Initial Coin Offering or ICO is our Medcoin™ Tangerine Copper coin patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge.
Tangerine Copper
Gold Badge
The other coin expected to hit the market in the year 2025 is our Medcoin™ Gold coin also patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge, as well.
As follows,
Medcoin Gold
More to come …
Payment Processing
How many bitcoins does it really take to reconcile a block of transactions?
And, that is by way of stripping the “artificial difficulty” that has been baked into the Bitcoin platform from day one.
Solve a puzzle, get a bitcoin.
But, that puzzle keeps getting harder and harder, not to mention more energy intensive, while the price of a bitcoin skyrockets or crashes.
People who engage as payment processing intermediaries are at risk until the block that a miner is working on that contains the transaction that is making the payment processor loose his or her hair, is reconciled, settled, and added to the block chain.
What is the rational for delaying, rather than speeding up the reconciliation process?
To make the miners compete against one another for the single bitcoin treat available, yet at the same time verify each others results when not the recipient of the single bitcoin treat.
Bitcoins, therefore, come into existence through the efforts of successful miners who then cash in their hard fought bitcoin treat for yuan granting further price appreciation ( or, price depreciation ) to the recipient of the bitcoin treat.
Mining Delays
When a vendor submits his or her bitcoins received to a 3rd party intermediary payment processor, the customer cannot receive their merchandise to be delivered until the ecosystem that mines the coin releases the finished block of transactions as part of the now expanded block chain.
With demand for crypto currency transactions hitting the wall of worry, the customer must tender an inflated troll compensation to the payment processor as an incentive to the ecosystem miners to place the transaction into the next block of transactions to be worked on.
The days of tendering a bitcoin to pay for a product or service without an effective troll compensation are over.
Miners will not touch a transaction that is not prioritized until a lull in traffic over the next (24) hour presents itself ( maybe )!
This is a fault in the bitcoin infrastructure.
Transactions should be reconciled swiftly, without delay for no additional cost other than what the vendor pays monthly for the privilege of conducting his or her sales in Medcoin™.
Mechanical Bingo
Bingo! is shouted out when by pure random pullings YOU have solved the puzzle.
Congratulations! YOU get a reward.
But, everyone else who has “paid-to-play” earns zip, zero, nada.
In bingo, as in crypto currencies that rely on “Proof of Work” to solve algorithms, the more “cards” you play, the better your odds.
Today, in China, you are competing with modern day Bingo Players replete with stacks and stacks of servers stuffed with the fastest GPUs that “out-compute” the competition and gain 99% of all single bitcoin rewards tendered by the platform.
Did I mention the electricity it takes to run a server farm 24/7 is generated by steam turbines that exhaust coal fumes and coal dust directly into the atmosphere north and west of the Chinese capital of Beijing?
Still want to use a bitcoin to purchase that inconvenient truth?
The fact is “Proof of Work” is one of the most wasteful uses of electricity in the world.
Not to mention the size of the carbon footprint that is emitted just to reconcile a simple ledger of transactions.
Meanwhile, our payment processor continues to “sweat-it-out” as consensus remains elusive.
Alternative Consensus Models
Consensus is the Holy Grail of all crypto currencies.
Achieve consensus through the forging of a block of transactions with minimal costs to both the miners and the platform, and your coin will become successful.
The world will beat a pathway to your door if by abstracting the logic from the consensus process used by the “Proof of Work” cryptos you are able in turn to build a better mousetrap that tames the consensus process at less cost to the miners, and by extension, to the environment, as well.
Transparency
A lack of transparency at the level of a crypto currency invites capture by the dynasty regime.
Those in charge of maintaining the status quo, no matter how egregious that status quo may appear, consider anything remotely egalitarian as suspect.
See. [Etherdelta]
Zonies
As we have no claim to the name of Medcoin™ outside of the State of Arizona, other than the USPTO logo badge, this project is forced to consider intrastate commerce only with a provision to hook into other zones when allowed at the Federal level.
On a zone-by-zone basis, where are the transactions occurring?
No doubt California, Texas, and New York together outweigh the balance of the USA zones.
If we stitched simply those three zones mentioned with the zone of Arizona’s transactions, would we reach critical mass sufficient to justify the needed cost structure to truly democratize the block chain method deep into the demographic strata of all?
At a sharing arrangement of 15 cents for the Miner per transaction, given a block of ten (10) transactions = $1.50 USD based on a “hard” read of $15 USD delivered in denominations of 1/100th of a coin per transaction, would the government Treasurer be pleased enough with a corresponding 85 cents per transaction to make up for the loss of our nation’s $2 Trillion USD of tax revenue currently being taken in annually via the Federal Income Tax?
The Federal Income Tax was created in the “nineteen teens” as a then trade-off amendment to compensate the Federal government for the loss in revenue that was about to occur with the advent of alcohol prohibition, itself another subsequent amendment to our constitution.
Why then can we not advocate for the proposed block chain transaction tax as a replacement to the Federal Income Tax by repealing the amendment from the “nineteen teens” that original authorized a tax on income “from whatever source derived”?
And, with a subsequent amendment … install the block chain transaction tax regime upon the country.
SEC
Dear Mr. Weber:
Thank you for contacting the U.S. Securities and Exchange Commission (SEC).
Please note that the SEC does not have a registration “kit.” Your question regarding registering your offering is best addressed by the SEC’s Office of Small Business Policy in the Division of Corporation Finance. You may contact that office directly at (202) 551-3460 or submit a Request Form for Interpretive and Other Assistance at https://tts.sec.gov/cgi-bin/corp_fin_interpretive. If you submit the webform, please provide a telephone number so that a staff member may respond to your inquiry by phone.
In the interim, you may wish to review our publication “Small Business and the SEC,” available at https://www.sec.gov/info/smallbus/qasbsec.htm.
For general information about virtual currencies, you may wish to review our investor alert entitled “Bitcoin and Other Virtual Currency-Related Investments” (available at http://investor.gov/news-alerts/investor-alerts/investor-alert-bitcoin-other-virtual-currency-related-investments) and our investor alert entitled “Ponzi Schemes Using Virtual Currencies” (available at http://www.sec.gov/investor/alerts/ia_virtualcurrencies.pdf). For information on Initial Coin Offerings, please see https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings.
As a federal agency, we are unable to provide specific legal advice to members of the public. Questions about how the federal securities laws apply to particular circumstances should be addressed by consulting with a private securities lawyer. If you need help finding a lawyer, please visit our Lawyer Referrals page at http://www.sec.gov/answers/lawref.htm.
Sincerely,
Kathleen Kim Special Counsel Office of Investor Education and Advocacy U.S. Securities and Exchange Commission (800) 732-0330 http://www.sec.gov www.investor.gov www.twitter.com/SEC_Investor_Ed
File Attachment: Correspondent Name: Mr. Robert Weber Create Date: 12/4/2017 Origin: Web File #: HO::~00639685~::HO Description: Hello: Please send me the kit to register our Medcoin™ symbol MDC Cryptocurrency offering with the SEC. Whether or not the offering can be considered to be a security is not an issue. Complying prior to any public offering of any crypto token or currency is. It is the judgment of our Board of Directors to initiate the necessary paperwork to properly register our ICO offering with the SEC prior to engaging the public. Please forward the kit at your earliest convenience, or provide the link where a proper registration may be engaged. Thank you, Robert. ref:_00D30JxQy._500t08D9KQ:ref
Last Subtitle
More to come …
Note. The above synopsis was derived from an article written by Kevin Lawton [1].
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