Why (and how) your empowr coin MUST succeed By Johnny Cash on April 6, 2018 | |
Why (and how) your empowr coin MUST succeed My fellow empowrians, As you know, ten days from today -- Sunday April 15th -- will be a historic day. On that day, the empowr community will begin the (totally free) distribution of 100% of the initial supply of its new cryptocurrency – 500 million coins - to the people of the world. This is an unprecedented and record-breaking event – not just in the history of blockchain and cryptocurrency industries – but in the history of money, companies and product launches. In preparation for this critically important day, today we need to discuss: 1. WHY your empowr coin must succeed 2. WHAT we can do, together, to help it succeed 3. Exactly what YOU can do, to receive a VERY LARGE PORTION of the 500M coin distribution (airdrop) We have lots to cover today, so let’s get started. 1. WHY your empowr coin must succeed As many of you know, the empowr community has invested 6 months of incredibly limited resources into the launch of this singular “product feature” -- the empowr coin: · -- Even before the community announcement titled “A giant leap forward”, empowr’s management, employees and engineers put everything else aside, to work on ensuring all layers of the platform are reengineered to be compatible with the empowr coin. · -- Since that time, empowr’s citizens (users, success coaches, employees and advisors) have all sacrificed compensation and cash outs, so that the limited cash could be utilized for everything coin-related including attorneys, consultants, external engineers, advisors and other expenses. When the empowr coins succeeds The success of the coin -- in my humble opinion – may represent the successful insertion of the final large missing piece in the massive 18-year puzzle we’ve been completing together. The coin is the oxygen – the fuel -- that makes the rest of the empowr platform – everything we’ve built together -- come alive. As a reminder, the empowr community has always been working towards the goal of helping half the world – 4 billion people – by the year 2025:  In the above graph, notice that we’re wanting to grow the number of empowr citizens by a factor of 4,000 in the next 7 years (IE: by the year 2025). To accomplish that goal – to serve that many people -- we’ll need a lot more empowr coins:  In the above graph, notice that the supply of empowr coins will grow from 500M (initial supply) to 6 billion by the year 2025 – a twelve (12) times growth factor. Wait a minute! How can we expect to serve 4,000 times more people -- with only 12 times more coins? How do we explain the 300+ times (4,000 / 12) difference between those numbers? The answer is that, over that 7 year period, together we must grow the value (price) of the empowr coins, in approximately the following way:  As you can see, the successful accomplishment of the empowr mission and overarching goal... ... very much depend on the success of the empowr coin. Therefore, together, we must do everything in our power for the empowr coin to succeed. But if the empowr coin fails If our new coin fails, this process -- and the last half-year -- will have been a enormous waste of time, resources and opportunity. Just imagine all the things that, together, we could have accomplished if we had not diverted all our attention and resources to the coin for all of this time. And of course it’s not difficult to imagine what you – on a personal level -- could and would do with the cash you would have received – if empowr wasn’t spending all available cash on the launch of the empowr coin. Perhaps even more importantly: The failure of the coin would represent a gigantic missed opportunity to use cryptocurrency as a tool... ... to further ensure the success of the empowr mission and, in the process, empower billions of people with opportunity, hope and influence. Let’s agree that we MUST NOT let our coin fail In fact, let’s -- each of us -- agree to do everything in our personal power to help ensure the coin succeeds. 2. WHAT we can do, together, to help it succeed The good news – scratch that – the AMAZING NEWS is that – after inventing virtual currency (= coins)... ... together we have spent 18 years working on the challenge of how to get virtual currency (= coins) to succeed. Remember, a coin’s success depends largely on its supply and demand factors. Since the supply of our coin will be limited - growing to only 6B coins by the year 2025... ... the success of our coins will depend on how demand is created and retained. If you think about it for a moment, you’ll conclude that virtually everything we have built together, has an objective of creating and retaining demand for our coins: · The empowr marketplace ensures our coins are utilized for goods and services. Utilization = demand · Our social network focuses our citizens on the selling, distribution and consumption of goods and services using empowr coins (as opposed to the sale of advertising and data to outside corporations like Facebook and all virtually all other social media platforms do). · Our educational system – comprised of hundreds of success coaches around the world – teaches our citizens how to become productive citizens in our economy – which perhaps is simply another way of saying “how to earn and utilize coins by producing, distributing and consuming”. · Our maturation system helps ensure anyone that has a product or service to sell, finds many consumers that are able and willing to purchase their goods using empowr coins. The maturation system also helps keep much of the supply of coins in the empowr economy and off the blockchain, thus decreasing actual circulating supply (and pushing up the price of the coin). · The trust flow ensures everyone’s profile and marketplace items receive a steady supply of customers that have coins to spend. · The empowr democratic political system helps ensure the platform will more quickly move in the direction that the community needs it to, ensuring that – over time -- the platform will keep improving and stay relevant to its coin holders. And so on and so forth. For more on the reasons behind launching the empowr coin, and a simple guide to blockchain and cryptocurrency, read the post A Giant Leap Forward. To watch how empowr creates and retains demand for the currency, watch this video. Fact Together we’ve already done the hardest part – successfully building all of the above and more – without a single penny from investors so that we can ensure the platform can ultimately belong to – and be controlled by – its citizens. Great! Does that mean that our currency will now definitely succeed? No, it does not mean that. Of course there can never be any 'guarantees' or 'definites'. There will always be forces outside our control. But if work hard and do our best - if we continue to take on challenges as they appear -- we can help increase the odds for success, of course. A specific challenge Today, I want to talk to you about a challenge – an opportunity – a very specific bridge that together we must very carefully cross -- to help ensure the ‘coin train’ stays on the tracks. I’ll now use an example – a story – to help everyone understand the challenge ahead of us... ... and then we’ll discuss a possible solution – one that can actually pour a lot more coins into the wallets of empowr citizens. Example: A new internet chat system For our example, let’s imagine a company that is building technology to provide a new and superior chat platform. After spending more than a year to build the technology, the company is ready to launch its new chat system. On the launch day, at the moment their new chat technology is launched, no one will be in the platform chatting, of course. Eventually, one person (let’s call her “Sally”) comes into the chat room, hoping for some fun and stimulating conversation. Sally says: Hello? Of course no one is in the chat room to respond. So, Sally leaves the chat room, of course. A couple hours later, someone else comes into the chat room. His name is Bob. Bob says: “Hey everyone!” No one is there to respond. (Of course the employees are all busy, doing their various jobs. They have no time to hang out inside the chat room, and chat). So, Bob leaves the chat room, never to return. Of course the company wants the chat room to succeed, so it begins spending money on advertising, to bring more people to the chat room, so customers will have others to chat with. Thanks to their advertising budget, on average every hour or so, someone new comes to the chat room, looking for some stimulating conversation! Each time a new customer arrives, it only takes them about 10 or 20 seconds to realize that there’s no one there – and they leave the chat room – never to return after that not-very-rewarding (chat-free) experience. What can the chat company do? They have an idea: Increase their advertising budget. Look, they’ve spent a lot of money building this world class chat platform – and therefore they’re very determined to make sure their chat room succeeds. So, they make a decision to increase their advertising budget by 10 times! Now, instead of once every 60 minutes, on average every 6 minutes someone new is coming to the chat room. Fantastic! But those new customers also only take a moment or two to realize that no one else is there – and they soon leave – never to return again. L The days pass. A few weeks go by. The company has now spent most of its cash reserves on advertising, and still doesn’t have a chat room where any actual chatting is happening. In their desperation, they double their advertising budget (which they had already increased by ten times) – hoping to bring enough people to their chat room. Now, on average, every 3 minutes someone new is coming (from the ads) to their chat room! But still, there is no one for them to chat with, and within just 10 or 20 seconds, they leave the chat room. After a couple more weeks at this pace, the company runs out of money. It is forced to shut down the business. The chat company has failed. L It’s a sad moment for the company and for the industry. Their technology was quite advanced, and the world will miss out. What, if anything, could the company have done differently? Let’s take a look. Let’s go back to the launch date. Imagine if, at the time of launch, if all the employees and their friends, dropped everything else they were doing, and went into the chat room. When the first person (Sally) came into the chat room, and said “Hello?” – one of the employees (perhaps Jim) would say: “Hey Sally! How are you today?” Sally might say: Fine! What’s going on? Jim Says: Oh, we’re just excited about this new chat room we just launched. What do you like about chatting? Sally says: I like meeting new people, and hearing their stories. I also like telling them my story. It beats watching TV. .... Jim and Sally are carrying on with their conversation, when a new customer Bob arrives and says “Hey everyone!” A friend of one of the employees (Martha) replies: Hey Bob! Where do you live? Bob says: I live in the Philippines. Love it here. Been here for 5 years. Martha says: Oh yeah? What are your favorite things about the Philippines? And Bob and Martha continue on with their chatting. As the launch day progresses, and more people show up, eventually there are 30 people chatting. Little by little, the employees, their friends and family members begin to get tired and need to think about leaving the chat room. They are worried, however, that if they leave, the customers will all leave. But they soon realize that it would be OK of they trickled out, because all the customers have become quite busy talking to each other. The customers don’t even notice, as the employees and their friends sign out of the chat room. For example, Sally became fascinated by Bob’s story, and soon after that, Mohammed, Mark and Olga got into a conversation comparing life in the Philippines to life where they live. All the customers were having so much fun, that they hardly wanted to leave! And when they eventually did leave, they couldn’t wait to come back the next day, to see their new friends and continue on with the great chat experience they were having. The customers also told their friends about the new chat system they had found, full of interesting and friendly people – and even mentioned some of the great new chat features in the platform, that they hadn’t seen before. Interestingly, the company had no need to increase its advertising budget. When new customers showed up, there were always people there to speak to them. Sometimes people would break away from the main chat room and start a new chat room. Eventually, there were hundreds of topics (chat rooms) happening at the same time. There was a topic for everyone! The chat company was a great success! Wow! What a big difference between the first story and the second story! In the first story, the company and platform failed. In the second story, the company and platform succeeded marvelously. The technology in the two stories was the same. The advertising budget was actually much smaller in the second story. So, what made the difference? The magic formula The entire difference came down to how the company’s community (employees, friends and family) handled the launch day. By ensuring the chat room had lots of people in it, during the first (launch) day, each customer that showed up had a massively different experience in the second story than they did in the first story. Instead of people leaving in 10 seconds, never to return again, everyone that visited the chat room was always greeted by someone friendly, that was ready to chat with them. On average, customers stayed in the chat room for over two hours in the second story. The important difference boiled down to a simple concept. It is something that the management professors and business books refer to by name. The concept is called critical mass. They big difference was that, during the launch date, there was always more than enough people (that is, there was more than a critical number – or mass -- of people) in the chat room to ensure that new people coming to try the new chat room always had someone to chat with. There are a lot of names for this magical moment in the adoption of any platform. Along with critical mass, the business books and professors also refer to this concept as the moment a product reaches its ‘boiling point’, or its ‘inflection point’.
Critical mass was the difference The entire success or failure of the chat room and company – seems to have boiled down to one single day and a single question: Was there (or was there not) a critical mass of chatters available to ensure that each and every new arrival had an awesome experience? Now, another story. Stay with me. I promise I’ll make it quick. Imagine that instead of a chat room, another new company has built some exciting new marketplace technology. It is their launch day. When people arrived to the new marketplace on launch day, the experience they were seeking, was to find things to buy – or people to sell things to. Similar to the chat room, if the buyers or sellers find nothing or no one to buy/sell from, they will leave and never return. And the new marketplace technology and company will fail. Hmmmm... Do you think the new company’s community of employees and their friends could help, similar to what happened with the successful chat room? Imagine if on the launch date, the community dropped everything else they were doing, and placed for sale anything they had, that they were willing to sell. Imagine that they even bought things ahead of time – just to sell on the platform on the launch date. And when a new customer showed up to sell something, the company’s community placed bids to buy those things. By doing this, similar to the chat room, the buyers and sellers would now have a massively better experience on their first day: · Instead of finding a marketplace with nothing for sale, people found many great things to bid on and/or buy. · And they found people eager to bid on the things they listed for sale. And therefore, instead of leaving in just seconds after they arrived, customers found themselves having fun and getting engaged – staying on the platform for hours – bidding on things and listing things to sell. Eventually, at the end of the long launch date, the employees and their family members needed to leave and get some rest. But the community of buyers and sellers that had formed, didn’t even notice. The number of customers had grown and now exceeded the small community of employees and their friends. The new customers had decided that the marketplace was awesome and had become quite busy and focused on their own buying and selling to even notice the slow departure of the company’s community of employees and family members. The customers would be sure to come back the next day – the day after the launch date -- to check on the things they had bid on and the things they had listed. And they couldn’t wait to be the first to tell their friends about this fantastic new and fun marketplace they had found. Wow. What a difference a single day made. The entire success or failure of the new marketplace the company – again boiled down to that single (launch) day. It all came down to whether or not a critical mass of buyers and sellers already existed when new customers arrived on the launch date. OK, so what do these two stories have to do with the empowr coin? Next week, the empowr engineers will be running special software that they have built, to scan the entire blockchain. Each and every time they find an active wallet, they’ll drop a tiny number of coins into the wallet – for free. Active means there’s at least a little bit of money in there – at least 0.10 Ethereum -- so that they’re not dropping money into many millions of wallets that were created and forgotten about. That process is called an airdrop. Why is it called an airdrop? Because it’s like money dropping out of the sky into people’s wallets!  Why in the world would empowr do this? An airdrop will introduce new people -- individuals that are already familiar with cryptocurrency – to the empowr story and coin. Performing an airdrop is less expensive and more effective than buying targeted advertising. Our objective is to introduce lots of new people to the empowr story and coin. To succeed, empowr coins need a critical mass For our coins to succeed, we must have a critical mass of people buying and selling our coins on the currency exchange -- beginning on our launch date. This is exactly the same concept as discussed in our chat room and marketplace examples. Everyone that received an airdrop will be able to earn more coins by signing up for empowr, and by performing other tasks such as watching videos and taking a quick exam afterwards (to prove they paid attention), hit their first daily goal, uploaded their profile photo, and more. After doing that, many people will go to the exchange to buy more coins, or sell some coins. Our coin and company might succeed – or fail – based on our success – or failure – to ensure a critical mass of buyers and sellers are ready to provide a great experience to the new people arriving to buy or sell empowr coins. So, what do we need to do? What we must do, is exactly the same thing as what I’m going to discuss in the next section. It’s exactly what you can do – personally – to ensure a massive amount of the airdropped coins go to yourself and your family. 3. Exactly what YOU can do, to receive a VERY LARGE PORTION of the airdrop On the date of the launch – April 15th -- let’s all put aside everything else, and spend our time on one of the currency exchanges. Let’s ensure that as new people arrive, they find lots of people eager to buy and sell coins to and from them. If the empowr community rises to the occasion, and ensures there are a critical mass of buyers and sellers available, our coins are much more likely to succeed. We must create a critical mass! We must ensure that people have a great experience buying and selling their empowr coins... ... and after we’ve moved back to our other responsibilities... ... they will hardly notice as they stay busy buying and selling coins to each other... ... and they’ll be many times more likely to their friends about the empowr coin, story and platform. And that is what we must do, together, to ensure the coin succeeds. We must ensure that, from the moment the exchange opens, there are a ton of people eager to buy and sell empowr coins. And like we often try to do, when something big needs to happen, let’s make we the launch date both FUN and REWARDING for ourselves! Let’s use a lot of our coins to reward our citizens that do the most to create a critical mass of buying and selling. The plan On April 15th, at 7am PST (2pm UTC) let’s all go to YouTube and join our president (Brian Woosley) for a Q & A video live stream telethon. 1. The telethon will continue all day long. 2. At 8am PST (3pm UTC) the exchange will open. 3. We’ll all go to the exchange and place our offers to buy and sell empowr coins. 4. Every time you buy coins, empowr will reward you with more coins – a LOT MORE coins – totally free -- to make the process fun and rewarding. 5. How much more coins? A lot more. We’ll start with 10 times the number of coins you buy - provided to you for free – and the number will go up and down as the day progresses. More details in a moment. 6. When I buy coins on the exchange, can I turn around and immediately sell the coins? Yes! You can sell the coins immediately, if you like, or hold onto them. 7. This sounds almost too good to be true. How does this make any sense for the empowr community? Look, if we are willing to airdrop – meaning give away for free – hundreds of millions of coins to the general public that have invested little to none of their time into empowr like we all have.... ... why not reserve millions of those coins for the empowr community, and reward everyone for their willingness to work hard on April 15th to ensure the success of the coins? Yes, I know lots of people in empowr have already received lots of founder coins in consideration for their past contributions. And therefore, it is to everyone’s interest to ensure the coin succeeds. If the coin does not succeed, everyone’s coins will be worthless. But what about the empowr citizens that did not receive lots of founder coins – such as many of our newest citizens? And what about the people that did receive coins, but have even bigger ambitions for their lives (and want more coins)? Why not reserve a lot of coins for them – and give millions of coins to the people that work the hardest – on the coin launch date -- to ensure the coin is successful? I hope you can now see how important this (April 15th) launch date is – to the future of the coin, platform and mission... ... and therefore why it makes sense to give away millions of free coins to the people that work the hardest – on launch date – to ensure the coin takes off. What you’ll want to do A. First, you need to get yourself an Ethereum wallet. Instructions provided by our president here B. Add your public key to your empowr account settings. Instructions also in that same post C. Notice that I just said “public” key. NEVER, EVER give anyone your private key. empowr will never ask for your private key. If someone asks you for your private key, they are trying to steal your money. D. Did I mention that empowr will never ask for your private key? If you think empowr is asking for it, you are wrong. Check your URL in the browser. Scammers have already purchased URLs such as empowr.io and empowrCoin.com – getting ready to scam you. Only trust www.empowr.com. Every other site is an imposter and they are probably preparing to scam you. Watch out: They’ll add pages that look exactly like empowr. And never give anyone your private key, not even if you think you’re giving it to empowr. empowr will never, ever, ask for your private key. E. Next, you need to get some Ethereum into your wallet. (Instructions also in the post linked to above). Remember, empowr will airdrop millions of coins into Ethereum wallets that have at least 0.1 Ethereum in them. To receive your airdrop, make sure to have more than 0.1 Ethereum in your wallet at least 5 or 6 days before April 15th – as that’s when empowr will start scanning the blockchain. If I were you, if you can, I would buy more Ethereum than 0.1 so you can easily buy and sell a lot more coins – and earn a lot more free coins. More on this in a moment. F. How many free coins will empowr give me? A lot more. In the video live stream, the reward will be mentioned – and it will change constantly – starting at 10 times more coins -- and going up and down, as will be communicated in the live stream. When we need more trades to reach critical mass, the rewards will go up. G. How high can the rewards go? As high as it needs to. We will start it at ten (10) times to make sure the earliest bidders are rewarded very, VERY nicely. Example: If you buy 100 coins, empowr will add 1,000 coins to your empowr balance. The reward rate will start at 10 times and will go up and down, and even higher than 10, as needed. H. After I buy coins on the exchange, can I sell them? Yes! You can hang onto your coins for the future, or turn around immediately and sell them. By selling your empowr coins after you buy them, you’re accomplishing two things: · You’re making the coins available to someone that wants to buy them – helping to create a critical mass of buyers and sellers. · You’ll have new funds that you can use, again, to buy more coins and receive even more free coins from empowr I. What price for coins should I ask for, when buying or selling coins? It doesn’t matter. Through this process, we’re not trying to control the price. We are only seeking to ensure that there are a critical mass of buyers and sellers available. Therefore, we suggest that you buy coins at whatever the current price seems to be, and you can immediately turn around and sell the coins for a similar (or different) price -- and then use your funds to buy more coins (earning yourself even more rewards)! J. Why it makes sense to NOT overthink the price You’re receiving a lot more coins for free – so don’t slow your coin purchases and sales down by holding out for the best price. Any difference in coins is far made up for, by the multiples (free coins) you’ll be receiving. K. Don’t miss out. Given the importance of this event, I believe more coins will be handed out to empowr citizens – on this one day – April 15th -- than ever was or likely will be – ever again. If you ever thought that it would be nice to own more empowr coins, well, this is your day. L. So, how much money (Ethereum) should I have handy in my wallet? It depends on how many free coins you want. The more coins you’re able to buy and sell at once, the more free coins you’ll earn. To maximize your ability to do many trades at once, try and load up your wallet with as much Ethereum as you’re able to, so you don’t have to wait for your purchases and sales to complete, before being able to buy or sell more coins. One bit of good news is that the price of Ethereum has fallen by a lot in the last few weeks, so (if the price stays the same or even drops some more) you should be able to buy Ethereum at a much lower price than you would have been able to, just a month ago. M. Are there any transaction fees for buying and selling coins? Every transaction on Ethereum costs a little bit of money – usually much less than $1 – around $0.10 to $0.30. And depending on the exchange we’ll end up using, there may also charge a very small fee charged by the exchange. Summary: Together, we’ve pulled off what many have said was impossible: Built a democratic social economy – from the ground up – without taking a penny from investors. And now, in only ten days from today, we’re launching the empowr coin: From that point forward, the currency (empowr coins) you’re earning in empowr will be available for you to spend in empowr, take outside of empowr, and/or save for your future. In our 18-year push, we’ve had a number of great moments The big date coming up -- April 15th -- will clearly be a day we’ll look back at as one of the community’s most important moments and events. Along with being historic in a number of ways (including the largest airdrop in the history of blockchain and cryptocurrency) the (April 15th) date is also a critical one: An immediate critical mass – or lack of – may forever define the future of the empowr coin. Therefore, the empowr community is called on to rise up and help ensure the long-term success of the coin. To reward citizens that choose to participate, every empowr coin purchased on the exchange will be rewarded with anywhere with matching free coins – all the way up to 10 times more coins. To read up on the empowr coin and project, check out the empowr whitepaper. A big “Thank you” As the final preparations are made for April 15th, I cannot even begin to tell you how hopeful – how incredibly excited -- everyone is at the empowr headquarters. I want to take a moment to thank you for everything you have done to make this day possible. Whether you’ve been working hard for the success of the mission for all 18 years.... ... or whether you just joined empowr yesterday... ... please accept this heartfelt thank you from the employees and management of empowr -- for your belief, positive energy, patience and efforts. Talk is cheap The empowr community has tried to strike a balance between 1) thanking everyone by giving away all the coins for free, and 2) ensuring there are performance-related requirements built in... ... such as the millions of coins that will be going out as rewards for helping achieve critical mass.... ... so as to maximize the ultimate chances for the success of the empowr mission and overarching goal. With this historic airdrop of 500 million empowr coins... ... totally free instead of selling it to already-wealthy investors like virtually ALL other cryptocurrencies are doing... ... I hope you’ll agree that the empowr community (of users, success coaches, employees and advisors) is continuing to put its money where its mouth is. With this Thank You, as always, your action talks louder than words. And finally, a big “Congratulations!” You, we, all of us placed a bet on the community and its ability to not just survive -- given our insistence to never accept a penny from investors... ... but to keep marching forward and keep improving. You placed a bet that the world would need what we’re building, by the time we’re done building it. As the empowr community launches the empowr coin – in April 2018 – it looks like the world is absolutely wanting – begging – for the solution you placed your bet on: From the populations of democracies around the world -- seemingly looking to tear down their governments – demanding a better democracy with more justice and equality... ... to the millions of people using today’s leading social networks – coming to the realization that they are being abused by Silicon Valley and Wall Street... ... to the emergence of blockchain and cryptocurrencies like Bitcoin... ... the stars seem to be lining up for exactly what you placed your bet on. There's never the perfect moment to stop and congratulate each other -- and we absolutely still have a lot to accomplish -- but this is as good and important a milestone moment, to say: Congratulations. Any questions? We’re here for you. And be sure to join our President, Brian Woosley, on the empowr YouTube channel -- tomorrow (April 6th) at 8am PST (3pm UTC) -- for a live stream Q & A session! (more) ►
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