Thanks

Table of Contents

• Thanks
  • Value
  • Creation
    • Income for children and adults
    • Creation amounts
    • Balance projection

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 (see universal income):

• P4: One ThankToken for person income

• C3: One ThankToken for community income of his Region

• C2: One ThankToken for community income of his Area

• C1: One ThankToken for community income of his Sector

• C0: One ThankToken for community income for the world

• S3: One ThankToken for sustainability income of his Region

• S2: One ThankToken for sustainability income of his Area

• S1: One ThankToken for sustainability income of his Sector

• S0: One ThankToken for sustainability income of the world

With this approach every person is valuable and continuously 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 as 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 natural decay) 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 diligence, earning and having more value. There will still be free markets and prices according to supply and demand.

Income for children and adults

Not only adults but also children (persons under 18 years) can generate ThankTokens per day. Unless a 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, this is only good to a certain degree. We do have a problem of overpopulation and if children would immediately get the same income as adults this could create too much incentive for getting many children. Therefore children can only generate less value.

Creation amounts

The amounts for the different income is defined by the following table:

	Amount (Adults)			Amount (Children)
Target	/day	/30 days	/365 days	/day	/30 days	/365 days
P4	32	0960	11680	16	0480	05840
C3	16	0480	05840	08	0240	02920
C2	09	0240	02920	04	0120	01460
C1	04	0120	01460	02	0060	00730
C0	02	0060	00730	01	0030	00365
S3	16	0480	05840	08	0240	02920
S2	09	0240	02920	04	0120	01460
S1	04	0120	01460	02	0060	00730
S0	02	0060	00730	01	0030	00365
total	92	2760	33580	46	1380	16790

So roughly every adult can generate an amount of almost 1000 Thanks per month (960 in 30 days and 992 in 31 days). Also he generates a similar amount of Thanks per month as community income as well as for the sustainability income.

Balance projection

To get an idea of the balance for the income of the different levels we draw a projection if every human would already participate in the system. In average we have a ration of 1:2 from children to adults on our overall population of 7.500.000.000 people on our planet. Hence the balances are estimated (excluding natural decay for simplification) as following:

• C3/S3: 4.927.500.000 Thanks in total per year for a (crowded) region with 500.000 inhabitants

• C2/S2: 87.600.000.000 Thanks in total per year for a (crowded) area with 20.000.000 inhabitants

• C1/S1: 219.000.000.000 Thanks in total per year for a sector with 100.000.000 inhabitants

• C0/S0: 4.562.500.000.000 Thanks in total per year for the entire world

• P4: 73.000.000.000.000 Thanks in total per year (all people of the world together)