Wednesday, September 13, 2017

VirtaCoinPlus' Latest Buzz!

VirtacoinPlus (XVP) is a modern cryptocurrency that is wholly owned by the Global Community spread all over the world and enjoying its impeccable technical features. It doesn’t depend on a single investor or developer who decides at his will what will happen to the currency.
VirtacoinPlus is owned, administered and managed by the entire Community, each member contributing with his/her skills, abilities and knowledge to its development.
VirtacoinPlus has a fair distribution within the community so that no holder can manipulate the XVP currency. However, there are moments in the life of a coin when important decisions have to be taken and responsibility for doing so assumed by someone.

A member of the community came up with the idea of organizing on a democratic basis, an “Organisation Centre” where the most remarkable ideas and suggestions of community members can be drawn up and put into practice. The struggle for supremacy in the crypto world is cruel and lasting. There are many needs that require covering by a collective effort so that the XVP currency can spread even more around the Globe, which would increase its value and, implicitly, raise the living standards of those who own it. Let's just mention a few of them: the need for promotion (advertising), the need to be listed on bigger and well-known Exchange Websites, the need for maintenance, or the need to increase its usability.
Each of these needs bears certain costs, which can sometimes be very high. As long as there is not a Warren Buffett within the community to handle all of these issues, how can we solve the need for XVP coin development so we can keep the reputation of "The People's Coin"?

The same member came up with the idea of setting up an Investment Fund by acceding members to decision-making on the future of the XVP currency. In other words, by participating into this course of action now, will affect XVP in a positive manner for many years to come.

There is an older practice whereby a developer asks for help from the community by creating a donation fund, but there is a small problem: when you make donations, you don’t really know what will happen to your money. At VirtacoinPlus, an XVP Investment Fund is proposed, and those who will participate in the Fund will automatically get a decision-making power over how the money will be used, depending on how much he will contribute. It seems reasonable for us that a person who contributes more money should benefit from more decision-making power than one who contributes less.

The Investment Fund will be created and managed by the members of the community, and decisions on it will be taken by vote of a ‘Board of Governors’. Anyone can contribute to the Fund, but only those who will participate with a minimum of 500 XVP will be part of this Board and will be invested of a vote in the Board and - as a result - of a small decision-making power. Those who participate with 1,000 XVP at the Fund will have 2 votes, as a result, a higher decision power. Those who will participate with 1,500 XVP, even greater power, 3 votes, and so on. E.g. A participation of 10,000 XVP will empower to 20 votes. In other words, the weight of a person's vote will be even greater as he invests more in the Fund.

Imagine yourself an important and powerful investor. Let's say you're seeking for a cryptocoin to invest about $20,000 by buying coins. Would you invest in XVP as long as you don’t know who decides on its future and you’re not going to be part of the decision-making process within the community?

In order to avoid the situation where someone could have a very large power of decision within the Board (by holding a very large number of votes) an additional condition was introduced. A specific proposal for the use of the Fund may be put to the vote only if it meets at least 40% of the Board members. In other words, that person cannot impose any decision without the acceptance of 40% of the total members (they need to be supported by others). Let's take an example: let's say the Board is made up of 10 members. They have the following number of votes: Investor1 = 30 votes; Investor2 = 9 votes; Investor3 = 8 votes; Investor4 = 7 votes; Investor5 = 6 votes; Investor6 = 5 votes; Investor7 = 4 votes; Investor8 = 3 votes; Investor9 = 2 votes; Investor10 = 1 vote. Let's say Investor2 joins the Investor1 so that together they have 39 votes. The rest of the members have a total of 36 votes. Theoretically, the two should impose their point of view, but they will not be able to, because they together account for 20% of the Board's total, so that any proposal from them is unsuccessful (they need at least another 2 members to support them to achieve the 40% required).

If someone decides to invest in XVP development, but for some reason he wants to remain anonymous (he doesn’t want to be part of the Board), then that's his right, but we need as many people as possible having different skill backgrounds to invest and participate in the decision-making process.
The collecting process will remain opened, at anytime, anyone can join or another one can invest more and purchase even more votes and power.
The Fund will be used for the purposes mentioned above. When the ideas of community members appear, the Board meets, analyzes and decides accordingly. Weekly meetings of the Board will be held (if necessary), which will analyze the proposals that appeared in the past week. Time: it will be announced. Place: preferably Zoom Platform. Emeka Okoli will be the host. If a proposal meets the number of votes required to be approved, then it will be put into practice.

Let’s go through a few concrete examples:

1. Let's say a member of the community proposes listing XVP at a bigger and well-known Exchange Website. He will bring arguments in support of his proposal, and the total cost of listing would be 3 BTC. On the following Saturday, the board meets, analyzes, and if the proposal proves to be acceptable, then it’s put into the vote, and if it meets the majority, then the proposal is approved and is being fulfilled (the mandatory condition is that sufficient funds are gathered already in The Fund). As a result, XVP will be listed on a bigger and better-known exchange website.

2. Supposing someone proposes a promotion campaign by employing a marketing and promotional specialized Company and bringing as many arguments as possible. Cost = $1000. Likewise, the Board meets and decides. If approved, then the XVP Investment Fund is called for that campaign.

3. Supposing we need a professional specialized page for news, a blog, a contact page or whatever. Visit the analysis here: and you’ll find out how many things should quickly put in place on the move in order to attend the 100% score. The Investment Fund will be called when we need it.

The cashier, who will be responsible for collecting the money and sending it to the designated person to handle various projects, must be well known in the community and a trusted person. The community has already chosen Gina Robichaud (a respectable Canadian) to take care of it. As well, those who will be appointed to implement the Board's decisions, because they will handle our money. The XVP address (along with the other well-known coins addresses – like bitcoin, litecoin, ethereum), where the money will be collected, are public and the funds collected there can be easily verified by anyone through the Explorer. We have paypal and payza payment gateways at your disposal.

To avoid speculation about the number of votes you deserve in the Board, an email address has been created. Once you have submitted your contribution to the Fund (using one of the variants available), you are invited to send an email to specifying the amount sent, currency, the number of votes you think you deserve, and the details of the payment made, attached. A total of 4 people from 4 different countries have access to this email address and will check every email you send. You will receive a reply with the acknowledgment of receipt and the number of votes you will have in the Board (if, for example, your contribution will be in dollars, we will have to make a small calculation). Everything will be counted by Viorel Baldigau, Gina Robichaud, Williams Amos and George Coffie. All well-known in the community members. Please allow us 24 hrs to respond because only one person can check the incomings - the cashier.

Also, once the Board is set up, a Democratic vote will choose a Leadership Team that will represent us in the various situations that will emerge in the future. We will have a dedicated Leadership page with names, contact addresses, etc. The tech developer has shown his willingness to join the team.

Very important: funds collected will not be traded on the market, in order not to influence the free market by selling a large quantity of XVP. Emeka Okoli will take care of exchanging XVP to bitcoins or dollars as needed. Also, the price rate for selling XVP to reach our goals will be determined by ‘The Board’.

We need determination, sophistication, timing and punctuality.
So folks, this is the vision of the community at the suggestion of a member. Read carefully, judge and act accordingly. New channels have been created through which each of you has the opportunity to get involved.

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