(For immediate release, allowed to reprint this article unlimited but only without changes.)
Ever dreamed to have an infinite amount of money?
Now you can do and can do easily (and for free). Well, there is a catch: You must agree that the money will be used only for a certain nonprofit project. They say that soon everybody will have his own currency. Not sure about everybody, but every nonprofit project should have its own currency.
Also you can list links to other fundraisers of your project (or for example to paypal.me) at our website, you can also accept BitCoin directly to your wallet.
To have an infinite amount of money you simply issue your own money (like as US Reserve publishes dollars), but you don’t need to buy expensive money presses because of modern Internet technology.
It is quite easy now: You just register as a user of this site and then enter your nonprofit project info at add project page. After this you click Submit button, wait a few seconds and you have your own currency! You can even create several currencies for several projects (however, it is recommended to make one currency for several projects if these projects are related with each other).
Technically your brand new currency is implemented as Ethereum tokens. So your currency will be referred below as tokens.
You have an infinite amount of money now, but (the world is not perfect) you need to exchange it for something more liquid. For example your currency may be exchanged for Ether. Ether is an electronic currency (think of it as a more advanced version of BitCoin). The magic of this site is that it creates (when you clicked Submit) a smart contract for you. This kind of smart contract is a wallet holding the Ether which you should earn in the process. Anyone can send any amount of Ether to your contract and your contract will automatically send him some tokens (see below for the formula). You can withdraw Ether from your smart contract to your personal or corporate wallet using the site.
Why anyone may want to send Ether to you? There are two possible reasons: 1. He may want to support your nonprofit project. 2. He is after receiving your tokens (I remind that when he sends his Ether to your smart contract, he receives tokens automatically.) He may hope to sell your tokens at higher price than the price he purchased it.
But why we hope that our tokens will increase in price? The reason is the following: Some users will want to make good, therefore they will use such currencies, what will lead to increasing exchange rates for such currencies, what will lead more users what in turn will increase the exchange rate. This is a virtuous circle of increasing the exchange rate. This may make the cryptocurrencies associated with projects even more profitable that regular cryptocurrencies.
Note that as the market grows the price of the token grows, it may probably become more profitable to buy our tokens at an exchange than by sending Ether to the contract address. The formula for the price may limit only the upper bound of the price, as exchanges may probably sell our tokens cheaper. Thus we expect that for good nonprofit projects the tokens will be listed by major cryptoexchanges.
The smart contract (the thing you created when pressed Submit button) holds a very big amount of money, 1024 tokens. Satisfied with this amount of money? But it was lied to you: It only appears to be 1024 when displayed in a wallet, but in fact it is an infinite amount of money! It means, when you withdraw it, it remains 1024 (does not decrease). If somebody (probably for his stupidity) sends the tokens to your contract, it remains 1024 (does not increase). So it is just… infinite. This project after all is created after the dream: what if I’d have an infinite amount of money.
There is also calculated total amount of your token in the Net. Your 1024 are not counted in the total amount. So when you withdraw tokens from your account, the total amount of your tokens in the Net increases (and it decreases if somebody will (stupidly) send tokens to your account).
Now the information for traders: Let remind that the smart contracts (at least these which are created by our site) send you the tokens when you send your Ether to a contract address. The formula is: The amount of tokens sent back is calculated by the formula e2/(T+e) where T is the total amount of Ether received to this token before the purchase and e is the amount of Ether sent in this transaction. Note that this formula offers huge discounts to big (wholesale) transactions. Be sure to be among the firsts to buy! You could sell back at a higher price.
As the price grows, if you have a big amount of money you can do cheap wholesale purchase and then sell tokens to other traders who don’t own enough money for a big purchase, thus setting the price for them above the price you purchased for.
While price is yet low, purchasing even a small amount (and big too) of tokens may turn out to be profitable.
The website is released open source. Among other things need to add search and categorization, as well as better Web design.
Maybe even governments will use currencies of CryptoNGO as theirs.
Contact information: Victor Porton, firstname.lastname@example.org