Crowdaction to sustain the euro liquidity in the faircoop ecosystem.

  • 05/02/2017 στις 19:10 #12809
    Φωτογραφία του/της Enric DuranEnric Duran
    Keymaster

    Crowdaction to sustain the euro liquidity in the faircoop ecosystem.

    Economic context

    We need to growth in 6000 eur monthly the exchanges in getfaircoin from euros to faircoin, in order to support the stability of the faircoop ecosystem.

    The middle incomes has been on the last 3 months is still less than 3000 eur monthly and this is not enough for cover the faircoop expenses and after that feel secure related the need of producers to change to euros together. As can be seen in the 4 quarter of 2016 numbers, (/groups/economic-management/forum/topic/faircoop-global-accounting-of-4-quarter-2016/ the amount of euro needed was covered without any liquidity saving. Both the incomes in euros and the needs of the producers are not something stable and liquidity needs can change based in specific decisions of producers to change to euros.

    At any moment that the real faircoin economy growth it can have short term consecuence of faircoin savers, moving the faircoins to merchants, and they needing to change more amounts to euros, so this growth of use, needs to be acompagned with a growth in exchange to faircoin to cover it.

    Which are the needs?

    Currently for a very healty situation we should have around 9000 eur.

    This amount would be useful for:

    – Give more security to producers and merchants

    – Distribute more incomes to people contributing in priorities of the faircoop ecosystem.

    – Cover especific needs of development, which requires extra funding.

    – buyup in bittrex contributing to the global stability of the ecosystem.

    More than look for big partners and create a dependence to them, we could make our ecosystem stronger botton up if we crowdact taking profit of the community that we already are, where few hundreds of people is affordable to get.

    This timing is important for the fairpay launch, as this commitment will give a clear answer to the questions that any producer or merchant could have to join.

    So, to achieve this goal with the commitment of the community will give an strong missatge of support to the many that could be looking on faircoin and faircoop without being secure of get any commitment, too.

    Goal: 6000 eur / month commitment

    So, the proposal is suggest to the faircoop community to participate in a process where as a goal 200 people commit with a middle reference of 30 eur each for month, until likely the fluent participation of more and more people, could make unnecessary a specific commitment in the future.

    This methodology of crowdact is a very important tool, as many times the people not feels ready to do something if they will feel are the only that does, but will be happy to do if they can be part of a community of people who does the same.

    How to do it

    If we agree to dinamize this process. we could fill the commitment using a getfaircoin.net specific section for this. And share on the telegram groups, on the fairnetwork, mailing list, social media and local nodes.

    Then we could personalize the way of payment case by case:

    → to make a bank transfer each month for the given amount.

    → to make the contribution quarterly or anually.

    – to pay using exchange office in local node,

    – ….

  • 05/02/2017 στις 19:35 #12812
    Φωτογραφία του/της Enric DuranEnric Duran
    Keymaster

    Spanish version of the document here:  /docs/crowdaction-para-sostener-la-liquidez-de-euros-en-el-ecosistema-de-faircoop/

    Version en castellano de este documento aqui:  /docs/crowdaction-para-sostener-la-liquidez-de-euros-en-el-ecosistema-de-faircoop/

  • 05/02/2017 στις 22:14 #12813
    Φωτογραφία του/της MichalisMichalis
    Participant

    Interesting proposal, but what I see as more interesting is to make a more sustainable economic plan in whole and in long term. I will try to write down a small analysis the way I perceive these things and hopefully we can have more on that subject which may end up discussing in a specific economic assembly. As far as I understand we can separate FairCoop economics in three parts:

    A) FC-to-Euro and Euro-to-FC. These economic transactions are going through services like getfaircoin.net or FairPay (soon)

    B) FC and Euro as income. The only source of real income that is mentioned is FreedomCoop.

    C) FC and Euro as expenses. Salaries to people working for FairCoop and other expenses.

    In the first part (A), it is obviously better to have more Euros coming in the ecosystem than FairCoin, but at some point we need to have a balanced flow because neither currency is indefinite. Although, if in the future we have a huge demand in FC that we cannot manage, we could think of reevaluating FC at a higher price.

    Regarding the above proposal of a crowd-act, it is a regular exchange of Euro-to-FC made by people dedicated or inspired by FairCoop. Resembles a sort of crowdfunding campaign, like the one we did for FairPay lately, or others made in past. Obviously, this is not something that could go on forever and for sure doesn’t offer stability nor certainty to people that may want to participate or invest.

    Nevertheless, in the long term, I believe sustainability is mainly decided upon the 2 other economic parts of (B) and (C), incomes and expenses. Regarding incomes, we could think of fees but is something we are not keen doing, especially now that we want FC to expand. This limits down our options a lot, but is crucial to come up with more ideas and plans which will truly offer incomes to the ecosystem.

    As for expenses, we should think of ways to make them more sustainable also. For example, we could agree that salaries needs to be partly in FC e.g. 30% or find business partners that accept FC or are willing to invest back in FairCoop.

    Anyway, these are mainly my thoughts and the way I see FairCoop economics until now. I believe other members can contribute more into that and start a deep and collective discussion regarding the economic management of FairCoop.

    For sure the 2 new evolutions that are on the way (FairPay and FairCoin2) could play a vital role in lifting up FC economy and maybe the above figures and analysis is obsolete, but I believe that in the long term sustainability and balance will always be crucial and worth to have in mind.

  • 06/02/2017 στις 01:39 #12815
    Φωτογραφία του/της Enric DuranEnric Duran
    Keymaster

    Related the proposal you say:  «Obviously, this is not something that could go on forever and for sure doesn’t offer stability nor certainty to people that may want to participate or invest»

    Im not sure if you understood, that this proposal is not a punctual campaign for one month, but a campaign to get a sustained commitment of 200 people with 30 eur exchange to fair each month, at least for one year (and if needed could be renewed, etc..). So, is in this sense that truely the proposal if accomplished will offer stability for the needs of the merchants that just need to do the exchange in the other way.

    This proposal is not related with the balance between incomes and expenses which should go in other discussion.  And for sure Freedomcoop have a lot to say on that (remember that CIC just with this, get 500.000 eur per year)

  • 14/02/2017 στις 17:39 #12873
    Φωτογραφία του/της JoseJose
    Μέλος

    So how many members are currently active and contributing in euros?

  • 14/02/2017 στις 19:18 #12876
    Φωτογραφία του/της Enric DuranEnric Duran
    Keymaster

    This project has been presented to be decided thursday on the assembly. Then will begin if approved, so still there is not a list of people with this commitment.  You can look the public numbers in general for incomes and expenses here:  /groups/economic-management/forum/topic/faircoop-global-accounting-of-4-quarter-2016/

  • 29/03/2017 στις 03:28 #13082
    Φωτογραφία του/της Enric DuranEnric Duran
    Keymaster

    Here it is the poll to help for continue designing the crowdaction: /crowdaction-for-faircoin-real-economy-poll-to-the-faircoop-participants/

    Please fill it, from now until wednesday 5 of april

  • 23/04/2017 στις 18:58 #13175
    Φωτογραφία του/της MichalisMichalis
    Participant

    Do we have a certain day of month up to which all faircoin orders should be sent? e.g. last day of each month?

    Personally I’ve set a monthly bank transfer of 50€ on 1st of every month, but I still wait for April’s transaction of faircoins to come.

    I would say that there should be a schedule (more as a proposal) to existing and future contributors. For example suggest that all euro contributions should come up to 15th of each month if it is to be fulfilled by the end of that month, otherwise they will go to the next one.

    Furthermore, I understand it is tricky also to count how much each one has contributed. Especially if we are to implement the proposals that are put on the poll.

  • 28/04/2017 στις 16:52 #13196
    Φωτογραφία του/της MichalisMichalis
    Participant

    Just canceled my monthly bank transfer… been waiting for a month to receive Faircoins for April and still counting. I’ll probably reactivate that after an automatized process has been set up.

    I am afraid it would be hard to keep collecting the desired crowdaction amount if we don’t show more consistency and reliability, especially to new people who would like to join Faircoin economy.

     

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