Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ethereum’s Vitalik Buterin Touts New ‘Robinhood’ Crypto From Occupy Wall Street Co-Founder

by Daily Hodl Staff
September 13, 2019
in Ethereum

Ethereum creator Vitalik Buterin is spotlighting a new cryptocurrency from the co-founder of Occupy Wall Street, the socio-economic movement that swept across the US in 2011 in response to wealth inequality.

According to creator and social activist Micah White, Sparkle is the world’s first redistributive currency. It aims to solve the same problems that Occupy Wall Street attempted to tackle by using Ethereum. Billed as a “better money”, White says, “When the rich spend Sparkle, the poor receive their share.”

Writes White,

“Here’s how Sparkle works: every time Sparkle is bought or transferred, 2% is taxed and redistributed to the entire economy.

This 2% tax is a transaction tax reminiscent of the Tobin Tax or Robin Hood Tax with one key distinction: the proceeds of the tax are redistributed proportionally to everyone in the economy. The system does not penalize being wealthy — after all, the wealthy will receive a greater share of the transaction tax — and still it rewards the poor.

Imagine if we all benefited from the luxury consumption of the elite.”

Responding to White, Buterin supports the main idea of Sparkle but suggests different ways to distribute the 2% tax.

“I actually like this! My main issue with redistributing the tax to hodlers is that in practice wealth inequality tends to be higher than income/consumption inequality so this could backfire. I have some other ideas for where I think the funds from the tax pot should go.”

“Particularly I agree with E. Glen Weyl @glenweyl that more egalitarian ethereum applications do need to bite the bullet and find a good way to represent people and not just coins.

In general I’ve always found the idea of having a “tip” enforced by social norms that goes to fund public goods in some way a really cool idea.

Ideas of where the tax pot should go: The “obvious default” is per-person UBI [universal basic income]. But I actually think quadratic funding (see https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3243656… and https://medium.com/@RhysLindmark/a-visual-representation-of-liberal-radicalism-d99b0a70c8b8…) is even more interesting and cooler.”

Sparkle lists its critical advantages and key features.

  • Autonomous
    Sparkle has no kill switch or pause function.
  • Immutable
    Sparkle cannot be broken, changed or modified.
  • Adversarial
    Sparkle is a protest that offers an alternative.
  • Experimental
    Sparkle enacts new economic laws that could form the basis for a better society.
  • Anti-Speculative
    Sparkle’s design fights currency speculation and is backed by a verifiable reserve of ETH that guarantees a minimum value.
  • Actually Exists
    Sparkle is real and exists right now.

White says he was invited by the Ethereum Foundation and that he’ll be speaking at DevCon, the upcoming Ethereum conference for developers and researchers.

Buterin says he’s interested in exploring the new cryptocurrency.

“Would love to chat more in person at some point.”

[the_ad id="42537"] [the_ad id="42536"]
 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Kriptomat Makes Automated Trading Available to All
    May 24, 2022
  • Spritz Finance Raises $2.5 Million in Pre-Seed Funding
    May 24, 2022
  • Bored.Ai Opens Text2Art Minting for the First Time
    May 24, 2022
  • Nitro League Releases Updated Roadmap To Launch Its Racing Metaverse
    May 24, 2022
  • Crypto Derivative Traders Can Access TradingView With Broker Eightcap
    May 24, 2022
  • DeFiChain Forms Technical Committee To Further Decentralize the Consensus Code Governance
    May 23, 2022
  • LongHash Ventures Partners With Protocol Labs To Launch the Third LongHashX Accelerator Filecoin Cohort
    May 23, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,799.00
$29,799.00
0.97%
Ethereum
$1,942.81
$1,942.81
3.06%
Cardano
$0.513406
$0.513406
2.13%
XRP
$0.408429
$0.408429
0.42%
Dogecoin
$0.083626
$0.083626
0.1%

Spotlight

  • Crypto Analyst Benjamin Cowen Warns Bitcoin (BTC) Traders Should Be Prepared for More Bear Market Action
    May 18, 2022
  • Here’s a Realistic Cardano (ADA) Forecast if Crypto Bear Market Continues, According to Analyst Benjamin Cowen
    May 22, 2022
  • Attorney Jeremy Hogan Says Ripple Lawsuit Reaching ‘Endgame’ – Here’s Why
    May 25, 2022
  • Crypto Analyst Predicts ‘Brutal’ Bitcoin (BTC) Rally Catches Bears off Guard – Here’s His Target
    May 19, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl