PUTI is coming to life


In a few weeks it should be a stable price, once everyone starts to see it. PUTI was created in Nov/Dec, so it has been being distributed to Steemit users since then.

So until the past few days it was just a blank empty value in the wallet, and as of the moment of this being written, they are over a penny.

And we now have enough Soap making materials to fill up a pallet of finished Soap, stacked up high, so Soap for Crypto coming soon.

These Specs set PUTI up to be very valuable soon.

I will start this next section with Sweatcoin as PoC, it is a great example for various reasons. 1, a simple Scot Bot would make it all real (if they never got on a blockchain, I am not sure), but Sweatcoin had a great launch and people earned it everywhere, but Sweatcoin was not a Cryptocurrency.

Sweatcoin was created as more like a Game Token, like Points in a video game. The best way to understand what a Cryptocurrency should not be is by understanding that Points are in concept Infinite, they, similarly to Cryptocurrency, could technically be limited, I could create a Points system with limited points. I could create a game map with 500 gemstones, but that game map has no regulatory body there is no Gravity to the Points system like Cryptocurrency.

Cryptocurrency, both Tokens and Coins, are Blockchain based, meaning there are nodes, and a Ledger, an Ledger that can not be gone back through and edited, and while a True Cryptocurrency (meaning the Prime native Currency earned in the Blocks of a Blockchain as you mine it, PoW, PoS, or DPoS) should not have a function where the creator can manifest new Coins, a True Cryptocurrency will come from a Blockchain. Any large mass of Coins owned by the creator should be on a ledger and not manifestible later, CryptoNotes have no ledger but still operate on this basic principle that the Nodes are a Ledger, and the Coin is not Owned by a Central body that Issues new ones, but a Blockchain.

Crypto Tokens, are usually Smart Contracts. First conceptualized as Bitshares Assets from what I know, and Mastercoin, CounterParty somewhere and then ERC20, then all the SMTs, etc came from ERC20 Smart Contracts. But the Contract may allow the Creator to issue new Tokens. A Token is on a Blockchain, moving Transactions on top of whatever Blockchain. Mastercoin and Counterparty are on Bitcoin, there were also Colored Coins. Then Steem-Engine is on STEEM, a Graphene chain. Hive-Engine is on HIVE. ERC20 is Ethereum, TRC20 is TRON, and on and on.


So now to Use cases

A Studio Booth Token as example of Access Credit, earned by listening and sharing Music from the Studio. If you have a Recording Booth, and you want to earn more. You can host a Blockchain from the Studio, that people can mine from anywhere, or a Token they can earn on a certain Blockchain. This Token could be earned on your Website as either a custom thing (GitHub has good resources, people have tons of good stuff to fork) or on Steemit or HIVE, so they then have a World Wide community earning by interacting with their music, recorded by them, and anyone who wants to can bring it in and get recording time, so it creates a larger community. People will buy things from each other outside of your knowledge, someone might trade a pair of shoes for 6 hours of recording time. It creates a whole new way to interact with your business outside of direct service or sales of any kind.

An Access Credit Currency should be named in a way that makes it clearly recognizable by a newcomer, there could be one Currency Brand from a Studio in NY or Miami called "Hours", maybe they are associated with a big label and they sell $5,000 each on the market, and people hold them like Bitcoin, maybe there is even a 2 year wait list when you redeem. They could be NY Hours, Miami Hours, Jay Z Hours, whatever brand they are associated with. And a smaller Studio, or any big Studio, could sell Minutes. A Cryptocurreny could be called MINUTES or NYMIN and MIAMIN, etc. Then there could be the LAMIN, or LAHR come out, and it could even be Studio to Studio Label names on the Minutes. Someone could come out with Seconds, and these would all range in value based on the Studio, the rate of Pay for those earning, etc, etc.

The benefits of getting deep into planning is DAOs as an example, a DAO is a Decentralized Autonomous Organization (DAO) which can best be compared to a massive board of Directors made up of each and every person holding a Currency. A DAO gives users the ability to Vote and shape the future of a Currency or Blickchain by weighting their input to the organization to their Cryptocurrency holdings. So if people are earning Studio Currencies like NYMIN, LAMIN, MIAMIN, etc, the people who don't spend them can help shape the future of the currency, because it will grow and people will use it outside of your Studio, outside of your DAO, they will create ways for people to spend it.

DeFi is an entire concept where coins other people invented or cloned, are pumped through Smart Contracts in a way that technically multiplies them as they are locked in Bank type investment Contracts, with Loans taken out on the Contract to pay for more Investment on Bank type contracts, to take out more and more loans. The creators of the Currencies never planned it.

There is an App for Temporary workers called JobStack that does with the company PeopleReady, and you go on and look for Jobs. Someone like Veryable or other companies could compete (or they could use it) to get more jobs and workers by having a Currency that pays workers, to be available or working and diminishes if you refuse specific jobs after claiming availability. Or if you are just doing it to earn. These could also then be used to pay for projects, turning workers into Employers, and helping existing Employers have a way to maybe buy Low and cash out High on Labor speculation. The Minutes could end up being used in many places.

Tokens for Museums, Zoos, Wildlife and Security Cameras could be used the same way. The Government and others could pay people to watch cameras and report things. It would be like a game to help with Security. People love watching certain Pandas, or Dolphins, and they could have earnings to show for it. Someone might say "Participation Trophies", and sure, but you can buy everyone's up and drive up the price if you want. It is a Currency, a Current. The Tax Law in the U.S. Amendments can best help you understand Currency, it says that The Governent may Tax "Income from any source derived",

US Constitution 16th Amendment:
"The Congress shall have power to lay and collect taxes on incomes, from  whatever source derived, without apportionment among the several States,  and without regard to any census or enumeration."

Eisner V Macomber:
https://supreme.justia.com/cases/federal/us/252/189/case.html

"The fundamental relation of "capital" to  "income" has been much discussed by economists, the former being likened  to the tree or the land, the latter to the fruit or the crop; the  former depicted as a reservoir supplied from springs, the latter as the  outlet stream, to be measured by its flow during a period of time.  For  the present purpose, we require only a clear definition of the term  "income,"   as used in common speech, in order to  determine its meaning in the amendment, and, having formed also a  correct judgment as to the nature of a stock dividend, we shall find it  easy to decide the matter at issue. After examining dictionaries in common use (Bouv. L.D.; Standard  Dict.; Webster's Internat. Dict.; Century Dict.), we find little to add  to the succinct definition adopted in two cases arising under the  Corporation Tax Act of 1909 (Stratton's Independence v. Howbert, 231 U. S. 399,  231 U. S. 415; Doyle v. Mitchell Bros. Co., 247 U. S. 179,  247 U. S. 185),  "Income may be defined as the gain derived from capital, from labor, or  from both combined," provided it be understood to include profit gained  through a sale or conversion of capital assets, to which it was applied  in the Doyle case, pp.  247 U. S. 183-185. Brief as it is, it indicates the characteristic and distinguishing  attribute of income essential for a correct solution of the present  controversy.  The government, although basing its argument upon the  definition as quoted, placed chief emphasis upon the word "gain," which  was extended to include a variety of meanings; while the significance of  the next three words was either overlooked or misconceived.  "Derived from capital;" "the gain derived from capital," etc.  Here, we have the essential matter:  not a gain accruing to capital; not a growth or increment of value in the investment; but a gain, a profit, something of exchangeable value, proceeding from the property, severed from the capital, however invested or employed, and coming in, being "derived" -- that is, received or drawn by the recipient (the taxpayer) for his separate use, benefit and disposal -- that is income derived from property.  Nothing else answers the description.  The same fundamental conception is clearly set forth in the Sixteenth Amendment -- "incomes, from whatever source derived"-- the essential thought being expressed with a conciseness and lucidity entirely in harmony with the form and style of the Constitution. "

 "It is manifest that the stock dividend in question cannot be reached by the Income Tax Act and could not, even  though Congress expressly declared it to be taxable as income, unless it  is in fact income."

 "Gibbons v. Mahon, 136 U. S. 549,  136 U. S. 559-560.  In short, the corporation is no poorer and the stockholder is no richer than they were before."

"And if, for the reasons thus expressed, such a  dividend is not to be regarded as "income" or "dividends" within the  meaning of the Act of 1913, we are unable to see how it can be brought  within the meaning of "incomes" in the Sixteenth Amendment, it being  very clear that Congress intended in that act to exert its power to the  extent permitted by the amendment."

"Just as we deem the legislative intent  manifest to tax the stockholder with respect to such accumulations only  if and when, and to the extent that, his interest in them comes to  fruition as income, that is, in dividends declared, so we can perceive  no constitutional obstacle that stands in the way of carrying out this  intent"

"[The 16th Amendment]  did not extend the taxing power to new  subjects, but merely removed the necessity which otherwise might exist  for an apportionment among the states of taxes laid on income.  Brushaber v. Union Pacific R. Co., 240 U. S. 1,  240 U. S. 17-19; Stanton v. Baltic Mining Co., 240 U. S. 103,  240 U. S. 112 et seq.; Peck & Co. v. Lowe, 247 U. S. 165,  247 U. S. 172-173. "

"In order, therefore, that the clauses cited  from Article I of the Constitution may have proper force and effect,  save only as modified by the amendment, and that the latter also may  have proper effect, it becomes essential to distinguish between what is  and what is not "income," as the term is there used, and to apply the  distinction, as cases arise, according to truth and substance, without  regard to form. Congress cannot by any definition it may adopt conclude  the matter, since it cannot by legislation alter the Constitution, from  which alone it derives its power to legislate, and within whose  limitations alone that power can be lawfully exercised."

 "We are clear that not only does a stock  dividend really take nothing from the property of the corporation and  add nothing to that of the shareholder, but that the antecedent  accumulation of profits evidenced thereby, while indicating that the  shareholder is the richer because of an increase of his capital, at the  same time shows he has not realized or received any income in the  transaction."

"It is equally true that, if he does sell, and  in doing so realizes a profit, such profit, like any other, is income,  and, so far as it may have arisen since the Sixteenth Amendment, is  taxable by Congress without apportionment."

 "Thus, the government contends that the tax "is  levied on income derived from corporate earnings," when in truth the  stockholder has "derived" nothing except paper certificates, which, so  far as they have any effect, deny him present participation in such  earnings.  It contends that the tax may be laid when earnings "are  received by the stockholder," whereas he has received none; that the  profits are "distributed by means of a stock dividend," although a stock  dividend distributes no profits; that, under the Act of 1916, "the tax  is on the stockholder's share in corporate earnings," when in truth a  stockholder has no such share, and receives none in a stock dividend;  that "the profits are segregated from his former capital, and he has a  separate certificate representing his invested profits or gains," "

"We cannot disregard the essential truth  disclosed, ignore the substantial difference between corporation and  stockholder, treat the entire organization as unreal, look upon  stockholders as partners when they are not such, treat them as having in  equity a right to a partition of the corporate assets when they have  none, and indulge the fiction that they have received and realized a  share of the profits of the company which in truth they have neither  received nor realized."

"Thus, from every point of view, we are brought  irresistibly to the conclusion that neither under the Sixteenth  Amendment nor otherwise has Congress power to tax without apportionment a  true stock dividend made lawfully and in good faith, or the accumulated  profits behind it, as income of the stockholder.  The Revenue Act of  1916, insofar as it imposes a tax upon the stockholder because of such  dividend, contravenes the provisions of Article I, § 2, cl. 3, and  Article I, § 9, cl. 4, of the Constitution, and to this extent is  invalid notwithstanding the Sixteenth Amendment."

Rewards Points, Game Tokens like in individual games or as in an arcade, as well as Augmented Reality Access Credits (Decentraland, ex), and Tokens that are a game like Gradients (CryptoKitties), or dynamic like a hot potato with PoS qualities. Tokens may also work as Keys in the Access Credits model, but could be used to Unlock things as in Kerberos. Decentraland is a Virtual Reality space that sold property and has a Currency, and from my understanding of the original concept they intend it to be freely selected by the people, but for each area to be different. Like where you can go to different styles of places, or like time period themes, or maybe games v. social, etc. So this same concept can be used at Festivals, or like someone could do it at a Theme Park in place of the E-Z pass, or on top of. The E-Z pass people could probably make a very very successful currency. The Bitshares Asset concept was originally meant to be like Concert tickets, Coupons, etc. But they are like Brownie Points now, but they are the same type of thing IBM uses for their NFTs.

Continued soon...

This has been delayed because of Corona Virus Economy issues, and the State of Texas, but soon we will be:

Expanding on the Punic Tokens,
Punic Metals and Gemstones,

Some will then be Blockchains instead of Tokens.

Early on we will get the Mining Pools going to Mine other Coins, then we can add ours.

We will have Witnesses on the Steemit Clone Chains.

We will have an ETH Clone called Akasha, and then a Temple Coin. We will also Clone DeFi Projects, and make a DAO to issue Coins and Tokens for the DeFi Projects.

We will be focused on then getting other People making City and State or Religious Currencies, as well as Corporate Coins, etc.