Thanks

Table of Contents

• Thanks
  • Value
  • Creation
    • Creation for adults
    • Creation for children

Thanks

Thanks is the default currency of ThankToken. It has the following aspects:

• Its value decreases over time

• Each person can continuously create tokens according to strict rules.

Value

The actual value of a ThankToken in Thanks is not fixed but decreases over time (natural decay). The current value is calculated by a fixed formula influenced by the time elapsed since the ThankToken was created and the number of transactions that have been performed. For Thanks the formula looks as following:

value(token) = token.header.amount*(retain^age(token.header.timestamp))-(txfee*token.transactions.size)

With the following parameters:

• token.header.amount is the initial amount of the ThankToken.

• retain is the daily retain factor (1-natural decay) what is 0,9995 (see e.g. here).

• token.header.timestamp is the creation timestamp of the ThankToken.

• age(token.header.timestamp) is a function that determines the age of the token in days from its timestamp and the current date in UTC (stripping the date by truncating the time).

• txfee is 0.00000001 (the minimum value that can be represented)

• token.transactions.size is the number of transactions that has been performed on the token.

If you want a metaphor for this you can think of a ThankToken as a coin that erodes so its value decreases over time. So after one year (365 days) a ThankToken with the initial amount of 1 Thanks is worth 0.83314661 Thanks.

Creation

Each person creates new ThankTokens per day:

• P3: One ThankToken for person income

• C0: One ThankToken for community income of his Region

• C1: One ThankToken for community income of his Area

• C2: One ThankToken for community income of his Sector

• S0: One ThankToken for sustainability income of his Region

• S1: One ThankToken for sustainability income of his Area

• S2: One ThankToken for sustainability income of his Sector

Creation for adults

The amount of these tokens is defined by the following table for an adult (person of the age of at least 18 years):

Target	Amount/day	Amount/30 days	Amount/365 days
P3	33.33333333	999.99999999	12166,66666545
C0	11.11111111	333.33333333	4055,55555515
C1	11.11111111	333.33333333	4055,55555515
C2	11.11111111	333.33333333	4055,55555515
S0	11.11111111	333.33333333	4055,55555515
S1	11.11111111	333.33333333	4055,55555515
S2	11.11111111	333.33333333	4055,55555515
total	99.99999999	2999,99999997	36499,99999635

So roughly every adult can generate an amount of ~1000 Thanks per month. Also he generates an amount of ~1000 Thanks per month as community income for his region. He generates another ~1000 Thanks for the sustainability funds of his region.

With this approach every person is valuable and generates value. Because of person income there is no more need for things such as unemployment benefit with all its complex regulations. As also other value is generated, this forms a potential earning for everyone what will result in jobs and additional earnings for everybody willing and able to work for it. The community income can be used for all kind of infrastructure and governmental projects. It is value from the community for the community. There is no need for VAT or income tax. As the same huge value is also generated for sustainability income there is no excuse anymore not to save our planet and rescue nature and species. As the value of Thanks slowly decreases over time (see value) there is no need for wealth tax or estate duties. While everyone can still put effot to maximize his amount of Thanks and be potentially the one with the highes balance over time Thanks will slowly level out such inequality. However, unlike in communism, you will still directly benefit from earning and having more value. There will still be free markets and prices according to supply and demand.

Creation for children

Also every child (person under 18 years) can generate ThankTokens per day just like an adult. Unless the child is old enough it can be represented by their parents (that can generate and manage the income). This also replaces things like child benefit and honors one of the most important jobs of our society: upbringing of children. However, we do have a problem of overpopulation and in a system with natural decay one of the best ways to get more income is getting children. This is only good to a certain degree. If children would immediately get the same income as adults this would create too much incentive to get many children. Therefore children can only generate less value as defined by the following table:

Table 1. Income for children

Target	Amount/day	Amount/30 days	Amount/365 days
P3	16.66666666	499,99999980	6083,33333090
C0	5.55555555	166,66666650	2027,77777575
C1	5.55555555	166,66666650	2027,77777575
C2	5.55555555	166,66666650	2027,77777575
S0	5.55555555	166,66666650	2027,77777575
S1	5.55555555	166,66666650	2027,77777575
S2	5.55555555	166,66666650	2027,77777575
total	49,99999996	1499,99999880	18249,99998540