Why the world needs 1 euro EFL
Why the world needs 1 euro EFL
In my previous text I explained how the lightning network will make Bitcoin lose its function as a digital peer-to-peer cash system. Government regulations like Mica will cause an ever shrinking amount of service providers to comply with the abolishment of the ability to use cryptomoney anonymously and rising on-chain fees will make everyday use impossible.
I am Liberlander Yoshi Livo. Liberland is a micronation between Serbia and Croatia and Yoshi Livo stands for Your Children Livo On, which is my addition to YOLO, You Only Live Once.
When I joined the crypto community I had high hopes that we could abolish debt currency and free the world from monetary apartheid. Today, little of this hope remains. Early adopters of crypto seem to be too busy spending their coins in low wage countries, taking optimal benefit from the privileged position they created for themselves. Often born in countries with a stable government and reliable and cost efficient financial service providers, in combination with relative cheap resources compared to an average income and the availability of high speed internet, they have isolated themselves with likeminded hodlers that travel the world to luxurious tourist locations where the party never stops and pretty ladies can easily be picked up if you feed their family for a couple of days. Their ability to benefit from the hyperinflating debt currencies globally is not seen as a privilege by those early adopters of course, they took the risk by investing in a speculative asset in the early days and therefore have earned the right to spend their money freely in the way they see fit. How is most of that money spent? Very simple, just use some VISA, or MASTERCARD like service so you can spend your coins in any location that is connected to traditional finance. Why care about those couple of % you lose on a transaction, your needs are fulfilled and you are able to enjoy your wealth without having to think about the reality that 99% of the world lives in today.
The reason why I am so passionate about this topic, is because in the not too distant past, I was living the same kind of lifestyle, with my own private driver / bodyguard that took me to any place I wanted to be. Every night I bought dinner for my peers at a restaurant and groups of up to 20 people could order what they wanted. I would pay the bill at the end of the night. I made various donations of which my investment in Liberland was one of the biggest. Liberland has a merit system and I made it all the way to the top 5 of biggest investors of the project. Life was great and by living in a narrow social bubble, I never really experienced a lot of the misery that so many people on this planet have to deal with on a daily basis. That reality changed abruptly once I chose a different path than the one that people expected from me. I started to figure out how Liberland was not becoming the free new country I had hoped for, but instead is used as a blueprint to develop a totalitarian control system that the likes of Klaus Schwab dream about. I have changed my vision over time and understand today that freedom should not end at your fence. The only way humanity can really set itself free from the monetary apartheid that has ruled the world for centuries is by educating people about the money they use. That kind of education is not in the interest of the people I used to surrounded myself with, because they aspire to benefit from the ignorance of others and since my influence was never that big, it has been quite an easy task to control the narrative around my persona.
I am called an unwanted person, or persona non grata, by those that I was hoping to be my friends. I always speak out about my doubts and this has made it very easy to spread the notion that you are better off to simply ignore me and not to do any business with me. I lost all trust from the people around me and today I feel like I am fighting a lonely fight. The reason why I write this down today, is because of the uprising tension in the Kosovo region. I still live near Liberland, and this is my biggest gain of everything I have done until today. This location is amazing and because the people have been sanctioned by NATO in the past 20 years, they have established a very autonomous lifestyle that I believe shows a true form of freedom. I do not need to lock my bike when I go to the supermarket and I have not heard about any armed robbery taking place since I live here, just to give a couple of examples. How different from the place where I was born, the Netherlands, where your bike can get stolen even if you lock it twice and you only walk inside to your house because you forgot to bring your wallet, or where you risk getting thrown a punch, just for looking at somebody in the wrong way.
Yes, the Netherlands, adored by so many people for all the wrong reasons. Did you know that smoking a joint on the street has been made illegal in Amsterdam, just a couple of weeks ago and that the city is trying to remove the red-light district from the old center of town? The world is changing rapidly, but little people pay attention to it, too much caught up with the current thing that the media dictates them to think about. In the past couple of years I have come to realize that it's not guns that give you power, nor is it the amount of money you can spend. True power comes from the ability to control the narrative and the ability to make people believe whatever it is you want them to believe. Exactly how big of a power that is can be seen in so many examples, but since the covid plandemic I like to refer to the ability to have up to 90% of citizens of certain countries inject themselves with experimental MRNA therapy. The promises of almost all heads of European states to never get involved in a debt union were easily thrown out of the window with the installment of the 750 billion euro covid recovery fund, of which 30% has to be spend on diversity and equality, or better said, the chemical castration of insecure children with toxins that previously were only given to castrate sex-offenders.
Call me a narcissist for believing that I have the ability to change the global narrative, but even before I invented the name Yoshi Livo and traveled to Liberland I had the feeling I was able to do exactly that. I was too young and naïve to notice that the current Liberland administration did not intend to create something new but instead wants to become part of the old boys network and that the little support I received only was handed to me because people thought I would be some useful idiot that could help them to roll out the 2030 agenda. The narrow window of opportunity that is still active goes both ways and the invention of Bitcoin is currently being used to develop the most sophisticated control system in the history of the world. Sure, for a couple of hodlers the freedom they manage to achieve will be great, but the majority of people will get stuck in a social credit system once the CBDC's are rolled out globally. If we don't act today it will be too late at some point and thousands of people are needed to not only keep bitcoin a viable option as cash money, but also to explain to the other billions of people exactly why we need a different form of money than the option that governments present to us. Freedom can only be achieved through education, or else we will forever have to build a wall to protect ourselves from the unknowing masses.
The case for 1 euro EFL is one that I often make and I will once again point out exactly how I believe people can make money on my proposal. Even if you don't care about my intentions and the goals I have set, there is a real opportunity to make money on the manipulation that has been taking place for years now. All that is needed is to grow the community of EFL, and while that might sound like a difficult task, I believe it can become a reality with the following steps.
The first step is to understand that within e-Gulden EFL, there is a pre-mine that is used to be handed out in small amounts of EFL to everybody that becomes a friend of EFL. The foundation that maintains these funds is only established to one day be abolished as soon as the community of EFL is large enough to maintain the coin themselves. This moment will occur when over 3 million EFL have been handed out in portions of 10 EFL per new friend, that is about 300.000 users and out of those new users, the majority will most likely only use their reward to sell it for a different form of crypto, but some will also see the benefit of having a community coin with a lower transaction fee than Bitcoin that expands the Bitcoin network and offsets some of the transaction volume so that Bitcoin can remain to operate as a digital peer-to-peer cash system. In the past 8 years, around 500 users have found their way and became friend by themselves. With a current market value of around 300 satoshi per EFL, which relates to around 10 eurocents per coin, the reward of 10 EFL amounts to a value of around 1 euro and this has not proven to be enough to trigger people. One solution might be to increase the total amount of EFL's that one friend will receive, but it is not the intention to lure people in with a bonus that they will sell, just so they can make a quick buck out of it. If we visit the most liquid centralized market of EFL today on freiexchange we can see that the total amount of EFL for sale below 20.000 satoshi is around 50.000 EFL. The total bitcoin value of the cumulative sell orders is around 2 bitcoin. I understand that nobody is eager to buy the price up to that price level, that is why I have opened an order on the decentralized EFL/BTC market on Komodo's Atomic Dex. I am currently offering 250.000 EFL for a total value of 2.5 BTC. With the proceeds of this transaction, I will then execute those orders on freiexchange myself. I will lose around 200.000 EFL in this transaction, but I will write that off as a marketing cost. What matters to me is that for a brief moment the price of EFL will increase about 100 times from the current price level, reaching close to 10 euro per EFL. This information is then used to spread around and let the people know that becoming a friend of EFL now pays around a 100 euro value in EFL. I believe such an amount will generate a lot of attention and cause an inflow of new Dutch users. Ofcourse, these new users will not all have the ability to sell their coins right away for the amount of 10 euro per EFL and I believe this will cause them to educate themselves into how to use EFL in their daily lives.
The largest issue that EFL has today, is that hardly anybody knows about its existence, but this is also its biggest advantage, as it allows for incredible growth in its userbase. Over the years, EFL has seen a lot of different service providers and exchanges, but because hardly anybody makes use of the coin they all ceased operations after some time, because the cost of the services simply does not outweigh the benefits at this moment in time. If EFL can establish itself as the Bitcoin of the Netherlands, I'm sure that a variety of businesses will start to offer their services again, all that is needed is the notion that money can be made and the free market will do the rest. I would like to emphasize that EFL is not going to replace Bitcoin, it will merely be an extension of it, so that transaction fees of Bitcoin will be lower and Bitcoin can maintain its purpose as digital peer-to-peer cash. This is in the interest of everybody that wants to see Bitcoin succeed. The lightning network in itself will not increase the amount of data that is available in the Bitcoin blockchain, and with the implementation of replace-by-fee, lightning bitcoins might forever remain stuck on the second layer as IOU to layer 1 coins. Average users will not be able to ever own their bitcoins on layer one of the protocol, simply because the cost of using the network become so high that only large financial institutions or very wealthy early adopter can afford to pay the transaction fee required to broadcast a transaction. Instead of connecting Bitcoin to traditional finance and holding on to a dollar standard in the world, we have the option of making Bitcoin the new global financial standard, but only if we admit that Bitcoin by itself will not be sufficient to provide the world with all its financial needs. Bitcoin maximalists aim for more regulation and believe that large financial institutions will be the bigger fool to provide them with a debt currency profit, but if we can build a network of community coins and build a digital peer-to-peer cash system, there will no longer be any need to exchange your crypto to fiat, because all of your needs will be available to buy for crypto directly. Using a VISA, or MASTERCARD like service that make use of traditional financial infrastructure is nothing more and nothing less than showing your distrust in crypto and is a way of losing your financial privacy. It is also not real crypto adoption as those merchants will never own any crypto and it does also not lead to more understanding about hwat money is by the global population. We need to step away from the idea that we need government regulations to make crypto safe and have faith in the self regulatory ability of blockchain and the power of a free market that will decide about which solution works best.
Over the past couple of years, we have seen that crypto markets are heavily manipulated. Especially those people that have not done anything but hodl their Bitcoins are the current winners and therefore believe in the notion that they are right. Again, it is all about the future you want to build. Would you like to keep the masses stupid and offer them a lightning network so they can look at the dollar value of their satoshi's, then the option I have laid out here is not for you, but if you want to educate the global population about money and believe, like me, that the only real way to freedom is to make people understand about the power that money holds, then we need 1000's of people like me to educate them about the options that are available today. With projects like Liberland and e-Gulden EFL, I believe I'm a great candidate to speak out about a new reality, that is in my opinion exactly why so many people try to censor me from speaking out. The majority of people that understand this information have a benefit from keeping the people stupid, so they can benefit from the ignorance of others, but if EFL manages to reach a value of over 1 euro each, the words I speak will have a much larger audience then today and can no longer be silenced.
I have asked ChatGPT about it's opinion on the proposal I make, and this is the result:
As you can read in the chat conversation, the largest risks that ChatGPT recognizes are liquidity, security, market acceptance, volatility, regulatory risk, and a limited ecosystem. As the final part of this text, lets go over them 1 by 1.
Liquidity: The Netherlands belongs to one of the most wealthy nations on this planet today. One of the largest oil companies in the world, Shell, is 51% owned by the Dutch royal family. For decades the proceeds of this company have made Dutch citizens amongst the wealthiest people on the planet. The recent earthquake in Turkye has shown that the Dutch population can crowdfund almost 100 million dollars in 24 hours time. Yes, liquidity is a risk, but because EFL aims to be the Bitcoin of the Netherlands, the amount of liquidity available amongst its potential user base is significantly higher than your average country.
Market acceptance: Market acceptance will increase once the user base will grow, just like it does with Bitcoin. When I started to invest in Bitcoin the only thing it was good for was to buy alpaca socks with it, yet it didn't hold me back to see its potential and understand that over time, when more people would understand the workings of the protocol, the acceptance would grow. I am much more worried about the large companies like Microsoft that have stopped accepting Bitcoin because of the high transaction fees then I am about people not accepting EFL. If EFL becomes too popular and the transaction fees become too high, it is time to decentralize even further and create a community coin that serves an even smaller community. The free market will decide which option is best, everybody can let their creativity make the best proposal that they believe will turn out to become a winning strategy to offer a global peer-to-peer cash system with Bitcoin as the new global standard.
volatility: Yes, crypto markets are volatile, The most important reason for it, is that the growth of users and the chosen emission scheme cause for large fluctuations. In a timespan of the next 100's of years, all crypto coins that will survive will trade more and more towards their fair value, for Litecoin this value means 4 to 1 to Bitcoin, for EFL this means 1 to 1. The reason why crypto coins are so far away from their fair value today is because of the period of hyperinflation that we are still in. Another reason is the limited adoption of crypto, hardly 1 % of the world is using any form of crypto, let alone a community coin initiative that is more focused on educating people for a better world then it is to provide a return on investment for speculators. The velocity of crypto money is very low and because new coins are still created on a daily basis, a very small group of people understands that coins will have to be sold for fiat if you want to use them in the real world. Once we have established a global crypto standard with Bitcoin at its core, and the user base has grown to over 50% of the world population, the need to exchange crypto to fiat will diminish and coins will start to trade closer to their fair value.
Regulatory Risk: The largest risk for all of crypto is the regulatory risk. The biggest reason for that is the limited understanding of the world population about what money is and their unlimited trust in central authorities. Instead of looking for acceptance from a debt slave system of monetary apartheid that benefits from the ignorance of people, we have to invest in educating the masses about the power that is hidden within money. You vote with your wallet and as long as we choose to use VISA and MASTERCARD like services to transact without coins, we allow regulators to impose a risk on the value proposition of crypto. Once we can change the global narrative that we need a government to keep us safe, the regulatory risk will diminish and by speaking out as Yoshi Livo from Liberland, I believe I can be a great addition to help to reduce that risk for all of crypto.
Limited ecosystem: The ecosystem of EFL will always be smaller than that of BTC, simply because it focuses on a smaller territory. However, I want to make the case that Bitcoin itself has only a limited ecosystem itself and that this ecosystem is not really growing. The lightning network is only an IOU of bitcoin, if transaction fees of Bitcoin will rise too high, the anonymity will slowly disappear because an ever smaller amount of service providers will see an increase of regulatory requirements to offer their services. KYC and AML requirements will make it impossible for a large audience to use crypto in the way that Satoshi Nakamoto intended it. Keeping Bitcoin available as a peer-to-peer electronic cash system will require constant effort and will not be solved with a centralized solution around one single coin. In order to decentralize Bitcoin, we need to expand the network and increase the data that is available for potential users so that the amount of fees that is required to perform a single transaction competes over a variety of different networks. Lightning might turn out to be less cost efficient than a lot of maximalists believe today, because the reservation of liquidity and fulfillment of regulatory requirements might be much more expensive then what people today believe it is going to be.
Another argument that ChatGPT has made is the following: "The idea of a multitude of "community coins" might work in theory, but in practice, it could lead to a fragmented ecosystem and confusion among users" try to read fragmented as decentralized and add the word uneducated before users. Lighting proponents want to centralize themselves around one single coin that can easily be controlled by imposing regulations. They do not care about freedom, but instead want to see financial gains so they can travel the world and benefit from their investment. They do not have the intention to make the world more free by educating the world population about the theft of their energy through the money they are allowed to use, but instead want to benefit from the lack of understanding amongst their peers so they can stack more sats as cheap as possible. The proposal of Satoshi Nakamoto is to build a digital peer-to-peer cash system, but those that propose lightning as a solution for high transaction fees fail to see that a Lightning Bitcoin is not a cash bitcoin, but instead an IOU on layer two that can only be claimed after paying a transaction fee to the bitcoin network. If we centralize ourselves around one single Bitcoin blockchain, those transaction fees will only be affordable for large financial institutions performing multimillion dollar transactions. To keep Bitcoin functional as a peer-to-peer cash system requires constant attention and an incredible amount of blockchains that will add available transaction data to be able to service the incredibly complex problem of money for the entire globe.
I believe my story of Liberlander Yoshi Livo, Your Children Live On, can change the global narrative. Wars can only be fought if people are willing to fire a gun. If we explain the way how our money system works I believe people are going to make different life decisions. Those that understand the power of money and guns have build a global narrative that the majority of people is happy to follow. Instead of reacting to whatever current thing the media presents us with, we need to create our own narrative and give an alternative solution so that people see there is a different option then a choice between left or right. If we allow the strategy of divide and conquer to reign over us, the invention of Bitcoin will be used to build a digital control system that will create a dystopian future that will enslave humanity to an even further extent then what it has been until today. The option of which direction we go is ours, if you support this message, vote with your wallet and buy some EFL, either on the centralized exchange or directly from me on the decentralized atomic dex of Komodo and if you believe my assessment is incorrect, I would also love to hear back from you. I've been explaining my vision and line of thought for over 10 years and until today, nobody, including chatGPT, has given me arguments as to why I am not correct. I would love to be proven wrong and always keep an open mind, I will be the first to adjust my line of thinking and change my ways, but until today the only argument I get is that people tell me they don't believe the words I speak, for example because other people tell them I am not trustworthy. The only result that I get is that people just stop talking to me and ignore me, because they get tired of hearing the same story over and over again. Emails that I send to newspapers or journalists are not responded to, because my words have not yet proven themselves. With EFL on the value of 1 euro each, those words can no longer be ignored and I would love to dedicate my life to explain to the people of the world about the different values that I believe will make this world a better place in the present time, and for future generations to come. My Telegram channel is always open and you are invited to join one of the many livestreams I host on Twitch. The time to act is now, I am ready.