Update on the empowr cryptocurrency coin By Johnny Cash on December 10, 2017 | |
Update on the empowr cryptocurrency coin Hello everyone, In the last post -- posted two weeks ago -- we discussed that empowr is working towards launching its own cryptocurrency coins - which we suggest that we call "empowrs". Thank you for your comments and overwhelming support. You have clearly given us the green light to move forward and -- as a result -- we’re now focused 100% on this effort. As a reminder, by launching our own coin, among many potential benefits, it appears that: 1. Community citizens could be compensated a lot more than before – many times more -- by giving them empowrs (coins) – which they shop with, or sell on an open exchange -- or save so they can benefit from the coin’s value potentially increasing over time. 2. empowr would now have much more resources to improve the empowr products – without taking money from investors. 3. empowr could now have much more resources to spend on marketing and user acquisition – in order to grow the community and further build demand for the coin and drive up its price. 4. empowr citizens that do not have credit cards or PayPal -- or are located in countries where PayPal doesn't operate - will FINALLY have a way to truly participate in the empowr economy. I cannot stress how important that last point is. After our most difficult challenge (lack of cash due to our desire to block investors) this has been the 2nd most difficult aspect of empowr for many of our citizens -- especially those living in Nigeria, Pakistan, Ukraine and several other countries. No longer will empowr and its citizens be victims of bad policies put in place by the government of one single country or a small number of U.S. banks and financial entities.
In addition, in that last post, we spoke about how it would be really good if we could find a way to reward our incredible community members… … many of which have been working so hard and for so long… … with empowr coins -- at no cost to them -- based on their past contributions to the empowr mission, community and economy. If you haven’t read that post, if I were you I would invest the time to read it carefully as it was carefully written to make conversations like today’s easier. ------------ OK, so I promised we would keep you posted with each step we take, to ensure everyone in the community is learning at the same pace… … and everyone has a chance to provide feedback and guidance so that we’re making the best decisions together. We have continued to speak with many of the important people in the world of cryptocurrency and blockchain. A summary of our latest findings and thoughts:
A. The majority of Initial Coin offerings (ICOs) appear to be scams As discussed, there are hundreds of ICOs happening, many raising millions of dollars. (An ICO is when a company begins to sell its coin to the public). Here’s their dirty little secret: First, they invite “whales” to buy their coin. Whales are what the crypto enthusiasts are calling big investors (that often invest millions). The whales are given first access to buy the coin, at a heavily discounted price – quite often up to 90% off the price that everyone else will pay. The whales often invest millions into the company doing the ICO -- and that fact is publicized, creating a sense of demand – and excitement -- in the consumer Sally. Sally then rushes to buy the coin, as she doesn’t want to miss out! Then, right when consumers rush to buy the coin, the whales start selling their coins. This is called “pump and dump”. The result will be that: 1. The company raises millions 2. The whales got out fast with millions in profits 3. Sally is holding the coin which has already depreciated in value This is common practice Virtually everyone in the industry we are talking to, is well-aware of this approach and actively participating in it -- showing little shame for this approach and its impact on the average (non-whale) consumer. It is the hush hush dirty little secret. Along with the whales, there is a whole set of others that are playing their part in this scamish approach. To see an example, check out this agreement (sent to empowr) from one of the famous “advisors” in ICOs – who (as you can see below) gets compensated very nicely for simply introducing the “whales” to companies: Compensation Schedule.
In exchange for introduction to ICO Whales, Advisor will earn compensation as follows: I) 3% of all coins sold on referral from Advisor is earned in cash by Advisor in as soon as funds are received. II) In addition, 3% of all coins sold on referral from Advisor during is earned in coins by Advisor in ICO coins as soon as funds are received III) Advisory Board Member shall earn $12,000 per month with two months paid at signature. IV) Advisor also earns the higher of A) 0.8% of all coins planned to be sold; or b) $100,000 in Company coins. This compensation is earned and vested at signature of this Agreement and coins are released unlocked and unrestricted when any buyer receives coins. V) Advisor shall have the option to purchase up to $6 million of coins with a bonus or discount that is 20% larger than the highest discount offered previously. If we sign this agreement, empowr will bring in millions - that is very clear. But please pay close attention: The above “advisor” is getting paid 5 different ways – just to introduce the company to the “whales” that – on top of this advisor’s crazy compensation -- will want as much as a 90% discount off the price the consumer will be paying. (And this "advisor" will get an additional 20% discount on top of the massive discount the whales receive). So, who will ultimately pay for all those costs and discounts? The consumer buying the coin. This is just an example of how an entire industry is popping up to quietly rip off the consumer -- who is unsuspecting of what is really happening behind the scenes. This is a scam. Why is that a scam? The bottom line is that consumer Sally bought the coin because of a falsely created sense of demand that left her economically harmed. Therefore, it is a scam. Should empowr go down this road? Now that we all understand what is happening, do you still think empowr should do an ICO? Should we quietly sign agreements like the above – and easily bring in millions from the whale investors to create a big splash and excitement – and then sell coins to unsuspecting consumers? Of course not. But wait: Think of what we can accomplish together with millions of dollars. If empowr can raise millions in this way, it can use those funds to improve the product and compensate citizens, and pay for marketing (user acquisition) as discussed. OK, but if we do, then what happens to the trust we’ve built for each other in the community? Our trust in each other is priceless. It’s the basis for everything we do -- and something that we should be absolutely unwilling to compromise at any cost. Without all of us trusting each other, empowr has virtually nothing -- and together we have little chance of accomplishing the mission – regardless of how much money we raise. Which means all our years of hard work and efforts building this platform together will have been for virtually nothing. If this isn’t as clear to you, as it is to us, then please say so and we can discuss it further. The bottom line This approach is a non-starter for us. If we wanted to compromise our values in exchange for millions, we would have done it a long time ago… … by accepting any of the big offers that come our way. We’re the same people that said No to investors many times; and nothing has changed. Actually, that’s not quite true: A lot has changed. Our community (you!) have invested A LOT into this effort and into each other. Slowly but surely, we’ve invented one important piece after another that’s needed to build an economy. We grew our success coach team from 4 people… to 750 today… … while driving up the quality and speed of our work. We’ve launched hundreds of new features… … many of which were innovative breakthroughs not seen anywhere else. We now know how to build demand for virtual currency better than anyone else. We’re a lot closer to succeeding in the biggest of ways.
Yes, we’re the same people that said NO to investors. But our community and platform is many, many times stronger -- and more advanced -- than before. Therefore, we should be stronger than ever in our resolve – to stick to our values and not sell out. All we need to EXPLODE right now… is access to capital. There must be another way to do this There has got to be a way to participate in the benefits of blockchain and ICOs without creating false narratives or bringing in whales. WTATWTAW As many of you know, one of the empowr community’s core values is called “WTAWTAW” which is pronounced W – Taw – Taw. That stands for Where’s There’s a Will, There’s a Way. It means that we don’t just give up when an obstacle shows up. We work hard to find a way. The question The main question we need to answer is: How can we accomplish our goals with cryptocurrency, but not run a typical ICO in a way that hurts new or old community members? Our proposed solution We’ve been thinking hard about this. Here’s our suggested path forward: 1. Total coin supply empowr will create a total of 10 billion coins. (Trever McGhee, thanks for your thoughts and guidance on this. As you can see here, we went with your approach). 2. The empowr community gets coins for free 10% of those coins (1 billion coins) will go to empowr community members for free: A. Coin amount would be based on Mission Points: The amount that goes to each citizen will be based on their all-time mission points: Specifically: Each member will receive 1.1 coin for each all-time mission
point they have earned. These coins shall be called founder coins, because you are the founders
of empowr, as it is an alpha mode project. B. Reaching out to old community members: empowr will do its best to reach out to community members (citizens, SCs and employees) that are no longer involved, to give them their founder coins, based on any mission points they may have earned By the way, we were strongly leaning to providing 100 million coins to the community for free – selling the rest to investors and “whales” – to bring in cash into empowr. But now, after fully grasping the impact that approach might have on our community… … meaning that if we went that route, the investors would be walking away with profits that rightfully belong to you… … we have decided that the community should get those coins – not the investors. That means that each of you will get exactly ten times the coins you were going to get – at no cost – and that will happen with a time-based release schedule as I’ll detail below. 3. Objective of empowr’s coins The other 90% (9 billion coins) will be held by empowr, which it will use to continue to build the empowr economy, in the following ways: A. Reward empowr citizens daily: Now, finally, empowr will have the ability to significantly increase the rewards given to citizens daily for all their activities in building the economy. This is by far the most exciting aspect in our minds - and the very best use of empowr's coins. B. Marketing (new user acquisition): A lot more new citizens coming into empowr means more buyers for your products and services, and it also means building demand for the currency – which should naturally drive up the price of the currency. Watch how together we build demand and value for the currency C. Maintaining and improving the empowr product: Just imagine what will happen to the quality of the empowr platform and products as we add more engineers and other workers, and focus them on your top ideas and complaints about the product. 4. The community’s objective Together, our objective should be to push up the value of the coin. That is the best thing we can do for the mission… ... and that is the best thing we can do for yourself and your family. Why should the value of the empowr coin not exceed that of bitcoin – which just surpassed $16,000 per coin for the first time today: 
Not bad for a coin that was just $0.08 per coin a few years ago. And bitcoin didn’t even have an entire community, company and economy behind it – working hard to build an economy around it – which is how demand is built and its price goes up. Imagine what we can accomplish, if together we set a goal to make our coin worth $10,000 within 24 months (2 years) from now? Remember, after inventing virtual currency, we now have an 18-year lead in working on building everything needed to drive up the price of a virtual currency. Our objective should be to do everything we can to protect and grow the price of the coin. 5. Release schedule If the market is flooded with too many coins at once, its price will drop hard. To ensure the market is not flooded with too many coins… … anyone that receives founder coins (citizens and the company) will have 1% of their coins released each month. When a coin is released, it can continue to be held; or sold for local currency; or used to buy things in the marketplace. This release schedule is an important point that everyone needs to understand: Given how many founder coins (1 billion) we are giving to the community, if we don’t have a release schedule, and enough people move to sell their founder coins, the value of the coins will drop to the floor. In turn, that would mean ALL our objectives with the cryptocurrency will not be met. We won’t be able to nicely reward citizens (with something of value) going forward -- or pay for operations or marketing. Which would mean all of this would be for nothing. Your coins will be worthless. That’s why we need to decide to either: Give less founder coins to empowr citizens OR Give more founder coins to citizens but enforce a release schedule We prefer to give 10 (ten) times more founder coins to our citizens. But we must do it in a manner that makes it easier for the community to succeed as – together – we work to keep pushing the value of the coin up and up and up. empowr (the company) and its community (citizens, success coaches and employees) will all have the same release schedule: 12% per year = 1% per month. The main way that empowr will release its 1%, of course, will be by simply paying community members coins for their work and results in empowr. 6. Reaching out to old community members As mentioned in step 2 above, empowr and this community will do its best to reach out to old community members, to give them their founder coins. However, it is conceivable that not all of them will be reached. Sadly, we know that some of them are no longer alive. Therefore, it is highly likely that empowr will be left with some unallocated (unclaimed) coins. After exhausting our efforts to reach out to these old members, we will auction off the remaining unclaimed supply of founder coins. 7. Active community members get first access Active community members (you) will get first access to the remaining (unclaimed) supply of founder coins, of course. Each active community member will be able to place a bid.
Here’s how the auction might work:
In their bid, the bidder will simply state: A) what’s the highest price they are willing to pay (per coin) and B) if they end up winning coins at that price or less, what’s the total amount they wish to spend Then, when the auction ends, the list of bidders will be sorted by highest to lowest (per coin) max bid price. Starting at the top of that sorted list, each bidder’s order will be filled until the inventory of unclaimed coins is totally sold. The last person to have their order fulfilled (the one with the lowest price) sets the price for everyone above them. In that manner: ● -- Everyone in the community gets the same price. No whales. ● -- The price for everyone is set by the lowest (per coin) price by the last person that won coins ● -- 99% of people will get a lower price than their max bid. (Only the last person will pay exactly their max bid per coin). With this approach, everyone’s strategy should be to bid the highest price (per coin) that they’re willing to pay – but not more -- to push themselves further to the front of the line and ensure they’re not left out. By doing that, if they win coins, their final price will almost certainly be below the price they were willing to pay. And of course, they’ll pay nothing (and get no coins) if the final price ends up being higher than they were willing to pay. Hold, sell or utilize purchased coins immediately Unlike free coins received (which have a release schedule) 100% of coins purchased in the auction will be holdable, spendable and sellable immediately when the auction ends and the exchange opens. That means that you’ll be able to utilize those purchased coins to shop or exchange them for local currency in an open exchange. What about non-community members buying coin? One thing we have learned while doing our research, is that many investors outside of empowr will want to buy empowr’s coin. Why? empowr stands out among ICOs, in that we actually have a working product and technology, patents, know-how, community and success coaches, experienced employees, revenues -- and all of us (citizens, SCs and employees) together have the most years of experience in doing the exact things that build demand for virtual currency. Almost all ICOs don’t even have a real team yet. Most haven’t even started building their product yet. And they have virtually no community. That means that empowr’s coin is probably the lowest risk / highest reward coin that most of these investors that are looking to bet on new coins, can find. What about Bitcoin? At this point Bitcoin is probably higher risk / lower reward than the empowr coin because: 1. Bitcoin has no focused company and community behind it. 2. Very few places accept it for payment. Its price is going up only because people are hoping it will be worth more in the future 3. Its price has risen from just a few pennies to $16,000 per coin, so even in the best case scenario, if its price continues to rise, its value has probably already seen most of the appreciation it will have. 4. And in the worst case scenario, as more and more people become aware of the empowr coin and everything we have built to create and sustain demand for our coin and drive up its price -- the price of Bitcoin could crash. Of course it could also crash for other reasons too. My point is that, based on many conversations that we have had, I believe: 1. Many investors will want to buy our coin of course, and 2. It benefits our goals (of driving up the price of our coin) to let them buy it Our community (you) are the whale. Our promise: 1. We will not let outsiders into the auction until you’ve had a chance to place your bid. 2. Outsiders will need to pay more. Here’s how that might work: When the auction begins, at first only our empowr community members will be allowed to bid. Those bids will get a substantial discount that will not be available to outsiders. (Think of it as our “whale” discount). In this manner, of course you get your founder coins… … which you truly deserve because of all your hard work and sacrifices…. … but you also receive a large discount on any unclaimed coins before any outside investors are allowed to buy the coin. That means YOU are the whale. How does it feel to be the whale? Good. We’re glad. You earned and deserve it. Let's not forget the sacrifices that you made. Let's not forget all the people that called us names: They told us we were silly to not accept investor capital. They told us we were senseless dreamers. They said we were all stupid to believe. Despite all of that, you stood by your guns You didn't stop believing. You stayed focused and kept working. Brick by brick, your courage and hard work created this opportunity: As a result, you deserve everything good this world has to offer. 8. Timing The process will need to stay open until – together -- we are confident that we have done everything we can to give old community members their founder coins. Why? Because once their (unclaimed) coins are given to someone else, those coins are gone forever, of course. We suggest that, at the moment that it has been 72 hours since no founder coins have been claimed by the community, we will close the auction. We are shooting for empowr’s currency being completely moved to the blockchain and open exchanges by sometime in March, and possibly sooner: Approximate dates: Next week: Launch: Coin wallet, founder coin distribution and auction
Sometime next month (72 hours since no old community members have claimed coins): Coin distribution and auction ends
March 2018: empowr blockchain cryptocurrency becomes tradeable on exchanges Rest assured that our engineering team will be working fast and furiously to beat that March date.
Cash is as tight as ever
And, as we mentioned in the previous posts, as expected this process is creating a ton of expenses for empowr -- legal, technical and more -- which of course is why cash outs are way behind. In the meantime, we have asked employees to give up their paychecks, and most vendors to expect no payments from empowr. What this means to everyone in the community (not just employees but citizens and success coaches) is to have very low expectations for cash outs, unfortunately, while we're pushing this process of launching our coin as fast as possible and with as little risk as possible. Even with a freeze on payroll, cash outs and payments to vendors, I can tell you that there is still not enough cash to pay for this process of launching our coin, so we're having difficulty in moving the ball forward. However, like we have always done together, we will find a way. We always do and this is no different. Thank for your patience. The promise we are hereby making to everyone (employees not included) is that empowr will compensate everyone who has waited for their cash outs with cash or empowr coins, as soon as it is able to do either one. 9. Next steps The next step is for you to communicate your thoughts. Does the above approach seem both fair for citizens and optimal for our mission and goals? What, if anything, should be changed? To be clear, it is never too late to stop and/or change course. Stopping this process or changing course is better than making big mistakes. (And at any minute we decide to stop this process, cash outs and payroll will bounce back to life, as we'll instantly stop payments to all coin-related activities and vendors). Let’s ensure we’re in agreement before moving forward. After we fine-tune the details based on your feedback, and we’re in agreement on a final approach, we’ll start distributing your founder coins to you. The team is working in shifts around the clock with a goal of making that happen as early as next week. In the meantime… …. let’s double or triple our efforts in building the empowr economy so we can drive the price of the coin up into the sky. Driving up the price of the coin is the best thing we can do… … for the mission and all the people we want to help… … as well as for your family and loved ones. Ladies and gentlemen – we too can absolutely do this: 
Starting at a penny per Bitcoin just a little while ago, Bitcoin's price will continue to go up – a lot ... ... and it will also GO DOWN – by a lot. It will surely have many corrections as people realize that there's still no economy behind it, and no company and community hyper-focused on ensuring it succeeds, like empowr's currency has.
Please pay close attention:
Bitcoin's price going up or down does not matter to us.
What does matter is that virtual currency – our invention – is here to stay – and those people and companies that have already spent years painstakingly investing and building the technologies, product, team, relationships, community and knowledge required to build demand and value for their currency will NOW be rewarded. And in empowr's case, along with ourselves and our loved ones -- the people of the world will be rewarded because we’ve done all of this primarily for the mission and the betterment of humankind... ... as opposed to doing it to simply create a few more millionaires and billionaires.
What the bitcoin surge shows is that
the world is ready
for everything we have been building Just imagine…. ... based only on what we have already accomplished starting with ZERO… ... what we will do together now that we will be properly capitalized… … so we’ll actually be able to reward citizens greatly for their efforts each day… … and actually pay employees a market wage… … and pay for marketing to create explosive new demand for our coin. Since we built everything we have, without a single $0.01 penny from the outside... Just imagine what we can and will do now. Question: Do you think you can effectively answer this question: How does the empowr community uniquely build value for its cryptocurrency? If not, I recommend that you carefully re-watch the following 2 videos to understand this community’s approach and many inventions that are focused on building demand and value for our currency: Video 1 (play >): The empowr community's vision and capabilities: 
Video 2 (play >): How the empowr community builds demand for its crypctocurrency coin:
 The world's top currency Let’s commit to doing everything we can to make the empowr currency the world’s top currency by 2025… … used not just within the empowr platform… … but in virtually every point-of-sale cash register, in every store and every place in the world wherre business is conducted. Hint: We have already secretly tested a program that enables success coaches to sign up local businesses in their area, bringing: -- those businesses new customers and revenues
-- empowr citizens the products and services from local businesses
-- success coaches a very nice on-going (long-term) stream of compensation
The secret program was a success: The twelve (12) success coaches that secretly participated easily signed up many local businesses... ... and we quietly parked the program so that we wouldn't bring more attention to it until we had the ability to properly go after it. As soon as we launch our coin, we'll be ready to unleash our nearly 1,000 success coaches on a global basis... ... allowing them to easily sign up thousands -- and eventually millions -- of local shops, restaurants and businesses so they can provide their goods and services to empowr citizens via the empowr platform and marketplace.
There is simply no better time than now to become a success coach... ... because SCs will soon have the opportunity to start coaching local businesses too... ... and get very nicely rewarded for doing so. To learn how to become an SC, simply speak with your success coach. You can have full confidence ... that we will be doing everything possible to make the empowr coin the world's top currency in 7 years... ... utilized by more people than the U.S. dollar or Chinese Yuan... ... as that is the goal we set many years ago for the year 2025.
By accomplishing that goal, from among our community members that continue to give everything to this mission and effort... ... it is easy to see how many hundreds or thousands of millionaires -- and even a few billionaires -- will emerge.
But more importantly: As a result of those same efforts... ... you will accomplish the overarching goal of helping half the world's population (4 billion people) to pull themselves out of extreme poverty. Which means ultimately you will live with the peace of mind that many of today's millionaires and billionaires lack... ... which is the peace of mind that comes with knowing -- with all your heart and soul -- that you absolutely earned and deserve everything good that comes your way from these efforts, because of all the people's lives you uplifted in the most positive and impactful of ways.
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Together, we have done the hard work, painstakingly building everything, brick by brick, preparing for this moment. The time for us to explode onto the global scene is NOW We are looking forward to your feedback... ... making any adjustments to any or all of the above... ... and then charging forward into empowr's next chapter together, beginning next week. Yours truly, JC
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