Unofficial FAQ to practical (social, non-highly-technical, noob) questions

Warning: this is something experimental that is trying (somehow) to organize relevant (or important) informations, give more exposure to them, and reduce the work associated with the creation (or referencing) of them.

The main purpose is to (unofficially) centralize basic questions (and answers) about the basics of uCoin (or Cutecoin, Meta_Brouzouf, etc).

The secondary purpose is to find good questions and answers to put in official and more visible places (like the website’s FAQ, and/or the Wiki).

Preliminary instructions:

  • Preferably, read these first: Presentation, Theoretical, Official FAQ, RTM (French).
  • Preferably, read (and follow) the whole Topic.
  • Make only questions and/or answers.
  • Make one question per “Reply”.
  • Ask questions related to uCoin (Cutecoin, Meta_Brouzouf, etc).
  • Do not engage in discussions. If doubts persist, do another different question.
  • When answering, cite the question to which the answer refers.
  • If you have a question with an answer, feel free to post them here too.
  • If you’ve seen a question and/or an answer elsewhere, feel free to copy it (and/or reference it) here.
  • Redundant questions is not ideal, but it’s fine.
  • Redundant answers are great, feel free to answer again something that has already been answered.
  • Don’t feel shy to ask.
  • Don’t feel obligated to answer.

(suggestions - and English corrections - are welcome. Please contact me directly)

Good initiative. You can take a look at the discussions on the forum to fill its content. I’m pinning this. :slight_smile:

  • Universal Dividend is, exactly, what? A division of money created out of nothing?
  • Is there the concept of inflation (devaluation of money, floating value)? If not, which feature guarantees it?
  • Can exist stock market (financial speculation) in the uCoin model?
  • Since uCoin does not guarantee a specific minimum gain, what is the simple mathematical calculation that defines how much the poorest member will surely receive? In other words, what characteristics directly influence the amount of money that the most “basic” member will receive?
  • A member can get incredibly rich? if yes, this affects other members? Negatively or positively?
  • The uCoin model is able to prevent or reduce social inequality? If yes, how?
  • It is OK for (much) money to not be spent (remain stored) for a long time?
  • The total money in uCoin is a representation of what all the members are able to produce? If yes, it also is (or includes) something else? If not, it is what, then?
  • How industries heavily based in automation (high production, few employees) fit in this model? They still get commercial advantage? They affect society in some way? If yes, positive or negative?
  • Early adopters have some sort of advantage? If not, what guarantees? If yes, what allows?
  • The operation of uCoin is (explicitly) divided between client software and server software? If yes, blockchain is stored on the client, the server, or both?
  • There are anticipated problems related to the eventual size of the blockchain after a much long time of intense use by tons of users?
  • What is the expected time for the completion of a money transfer?
  • It is (or it will be) possible to cancel (or reverse) transfers?

UDt+1 = Max(UDt;c*Mt/Nt+1) where Mt is the whole monetary mass at “t” date, and Nt the number of members of the money community at “t” time, and I will assume now a value for the constant c = 10% / year. Most of the time it is UD = 10% / year of Monetary Mass per member. UD is the co-production of the money in space and time that implies any present or future member will co-produce the same RELATIVE amount of money (% of money) in his whole life (any member will produce 99% of M/N in 40 years). All that is fully explained and demonstrated in the Relative Theory of Money you can find (or contribute to) a translation here.

Relative money theory demonstrate inflation is a false notion, you have fair (libre) money and not libre money, some people produce more of common unit of value, and some people not in not-libre (not fair) money systems. Because in a libre (fair) money you have UD = 10%/year M/N, so you will have always M/N = 10 UD, and so never more 10 DU within the money, and so no inflation possible due to money. Economical values and prices can change, but this is not due to asymetrical money producion.

This is out of the money. A common money is one thing, other rules about economy or society are other things.

Everybody co-produce in the present, and in the future, always, 10% / year of the money per member in a fair money, with not other money production. Money is so based on the men (and produce something by men is not “out of nothing” since men are not “nothing”).

RTM refutes positive or negative values, “rich” and “poor”, since it applies the principe of relativity in its

3rd economical freedom : Any man is free to estimate and produce any sort of value.

You are not allowed as a man, or even as whole group of men to define for other men, what is value and what it is not, and so :

  • Values are relative to the single man who estimate it
  • Prices are relative to the single man who estimate it
  • Values and prices are relative also in time by the men(t) who estimate them.

So RTM refutes any man point of view who pretend define for other man in space and time what is value and what is not value. RTM also integrate individual men live a limited average time period of ev = 80 years and demonstrate so that due to relativity principle c = ln(ev/2) / (ev/2) = 10% / year leads to any man will produce 99% of relative money during an average 1/2 life, independently of the time he was born, and independently of what he estimates is a value or not.

Principle of Relativity implies you CAN NOT define for others what is “production” and what is not “production”. When men define a money model where what is production and what is not production are defined to design the money, then RTM demonstrates that those men deny the relativity principle and pretend define for other men in present and future what is value and what is not, denying their 2nd and 3rd economical freedom.

Due to relativity principle this is out of the money, because you cannot define for other men what is “automation”, what is “high production” what is “low production”, what is “production” what it “no production” etc… You can define it for you but not for others without denying them their freedom.

No man has any advantage. neither in space nor in time. Any man co-produce money in the same way, thru a Universal Dividend that is a % of money not depending in time, so new born will have the same relative amount than dead prople had.

Other questions are much more technical ones, they are about what is uCoin P2P implementation of fair (libre) money, and so I let the software main contributors give full and precise answer.

Yes, uCoin architecture is divided between clients and nodes (servers). Blockchain is stored on server side. Clients only take needed informations from the blockchain.

The curent Metab_brouzouf testing money last 160 years in almost 6 months. uCoin softwares (uCoin node and CuteCoin) will be tested with high traffic (many users, many transactions, many certifications…etc) to look if it can hold a high charge.

It depends on the monetary system parameter avgGenTime. Which means it can be changed for an other money. For meta_brouzouf testing money, we set the parameter avgGenTime to 10 minutes expected time.

It is actually not possible to revoke money transfers. Do you think it is a great think if we are allowed to revoke a transfer?

  • Relative Theory of the Money (RTM) is a must read to understand uCoin?
  • The amount of money created at a given moment in time is directly proportional to the amount of existing members at that same moment in time?

You could say there is money creation, but because “c” is a constant you will always have M/N = 1/c DU, and so no, there is never money creation; there are always same amount M/N = 1/c DU.

So you cannot say “there is money creation” because in UD units M/N = 1/c UD and there is no creation at all. You cannot say too “there is not money creation” because in the referential of quantity units there is always UD = c*M/N creation.

This is about relativity principle. You cannot say “that object is moving” because in the referential of that object it is YOU who move. And in other referential both the object and you are moving, and so you cannot say too “that object is not moving”.

And then, because there is absolutely no absolute referential at all, you cannot say something else than : a libre money is a relative money.

Since ucoin was developed because of the RTM, its an important text yes. We hope to finish it’s translations for the end of the year.

If you don’t want to wait, you can read Galuel explanations on the forum. You could get a grasp on the basis of the RTM. (Galuel is the one who created the RTM)

Since there is not, exactly, a money creation concept; what there is, then, is a slow release of a predetermined total?

To be short, if you look at the money from a quantitative point of view, we are creating money at an exponential rate. But if you look at the money from a relative point of view, relatively to the Universal Dividend, no money is created. It’s only redistribution.

It’s only distribution (no need of “re”)

Relative point of view is made of transfers. Transfer is more a redistribution mechanism to me.

Distribution is more a quantitative concept.

uCoin guarantees privacy? How?

What are the cases that a person will lose its money?

uCoin does not care about privacy. All actions, transactions, certifications can be accessible to everyone. uCoin project is mainly focused on creating a fair monetary system first. Anonymous transactions will come later with an upper layer or other projects…

People can lose their money by loosing their account access key. uCoin can have bugs.