We have launched a 0% Fee Mining Pool at pool.smartcash.cc! Thank you so much (self.smartcash). How to protect my money (self.smartcash).

We have launched a 0% Fee Mining Pool at pool.smartcash.cc! What is SmartCash? SmartCash is a community governance, cooperation & growth focused blockchain based currency & economy. In a traditional crypto currencies such as Bitcoin, the block reward was intended for the miners. But with SmartCash we have turned this upside down, and will be using 70% of the block reward to fund not only the community projects, but also the growth & development of SmartCash. With SmartCash we have placed a huge focus on the community.

We highly encourage anyone with the skills to help grow SmartCash to get involved in the community and bring your best creative ideas with you. Resources • • • • • Wallets • • • • • • Get Involved • • • • • • Smarthive • • • • Exchanges • • • • • • Mining • • • •. I just came across this today and think that there are some cool ideas specifically with regards to the SmartHive but I am skeptical of the current program.

• The SmartRewards system sounds great for someone who buys in early but this rewards holding in two ways that I'm not sure are positive. First, you're highly incentivising hoarding so people will be less inclined to spend.

This one I will concede is debatable. The second and more important point is that this is a system that rapidly makes the rich richer for simply having money. I've been looking for an honest analysis of the SmartRewards idea but all I see are people getting excited about the $$ they're going to make for buying in early without thinking about how ridiculous the wealth distribution winds up long term. Please explain why I'm wrong.

• To take things one step further, the SmartHive is a cool idea but I'm not so sure about the 1 SMART = 1 Vote system. Again, this skews power in favor of the wealthy. In a time where we the people see our voices heavily drowned out by lobbies with big money, how is this system any better? The idea of a community voting is awesome but if 5% of the SmartCoin holders own 51% of the coins then they can essentially use the 'community funds' to further push agendas that serve themselves and not the majority of the community.

Please don't take this the wrong way, I'm not trying to shoot down the idea, I'm just trying to make sure that I have a solid understanding of the implications of a system like this. What am I missing? 1.) First, SmartRewards are not an investment. We cannot control if anybody speculates thinking how much money they are going o make. 2.) Hoarding/Holding is not highly incentivized. Block rewards have started declining past block # 143500 and so will the SmartRewards distribution because it is in direct relation with the same. SmartRewards are nothing less than a price stabilization mechanism and a way to distribute block rewards to the community.

People are free to speculate but the truth is SmartRewards is all about distribution to the community. 3.) The idea of having 1SMART=1VOTE is to allow everyone to have a say at the voting platform. There are no 5% holding 51% of the coins. Also, if SMARTCASH wants to essentially use the community funds to further push agendas that sereve themselves then SmartCash would not be involved in community engagement. Remember it is easy to become a pump and dump coin.

We are not that type of crypto-currency. Please don't take this the wrong way, I'm not trying to shoot down your question, I'm just trying to make sure that you will have a solid understanding of the implications of a system like this • • • • • •. Thanks for the reply.

• Can you clarify this statement? I'm not sure I understand. • I definitely understand the price stabilization mechanism for the short term and I love the idea of distribution of block rewards to the community. My main concern is the proportionality of it. Since SmartRewards are distributed in proportion to your holdings then that means that over time, as people's holdings are further diluted by the mining, the distribution of the dilution negatively affects those who can't afford to hold. It's like being paid interest for holding your money when you aren't making any contribution to the economy since you're not even lending the money. Why would you when you make money holding it?

Miners provide a service so it makes sense that they get rewarded since they expend energy and provide value to the economy. Those with less who need to live off of the money may not be able to afford holding their coins since they need to spend to live. So over time, those who can afford to hold gain more and more and those who can't (living paycheck to paycheck) find that over time, their money is worth less and less since the newly minted coins dilute their value quicker than for those who hold. Siacoin SC Mined on this page. Again, I'm thinking long term as in if this becomes a system that the economy of a country adopts. • I wasn't saying that SmartCash is a pump and dump nor that they themselves are the ones pushing any alterior agenda. I'm just saying that the 1 SMART = 1 Vote system means that those who are more wealthy get their voice 'heard' more than those who aren't.

Just look at the wealth distribution in the USA. If 1 dollar = 1 vote then that means that even if the majority of the country voted on something, that the small minority who owns the majority of the wealth gets their way. That's not democratic. Point is, those who have a lot of coins have a lot of influence and those who have a lot of influence get to push agendas that further enrich themselves and maintain that influence. I get that you're taking a company shares approach to this but I'm not sure that's a positive thing to scale to an economy. How does this system ensure that haves don't just trample the have nots?

No need to worry about shooting down my question, I appreciate the open dialog and you taking the time to help me understand this. • • • • • • •. SmartRewards) My personal take on SmartRewards is that the% will dilute over time and be more comparable to a savings account level of interest(maybe 7% over the course of a year). In a sense people are rewarded for keeping the price stable which is important as a currency rather than a commodity. In the web wallet people have 3 accounts some for saving and other for spending.

Although maybe something along the lines that the smart rewards go into the spending accounts or% of the account can be spent without affecting rewards instead of disqualifying the whole wallet. Voting) I think this is a much more progressive voting system than anything else out there in the world of crypto currency where as a holder you have no voice at all.

• • • • • • •. I can see the positive impact of SmartRewards on price stability in the near term but I don't see it as a concern long term. As the market cap saturates, you achieve price stability. I'd be cool with SmartRewards as a short term price stabilizing mechanism that maybe decreases to 0 over time as the price stabilizes. If this is a deflationary currency then people will already be incentivised to hold onto their extra wealth so I don't see a need to further reward that. I'm honestly torn on the voting scheme. On the one hand, I get wanting to give holders a say in the development of the technology.

I just worry about the long term impact of economic policy being dictated by those that have the most wealth. I admit that I don't have a better solution in mind. • • • • • • •. If it really does get wide adoption the rewards will shrink significantly. The fact that coin comes out slower over time and more wallets will be collecting smart rewards the number is going down. At least with voting it's very transparent, requires multiple discussions and then voting.

Also the currency doesn't seem to have a super users with 5 ppl with majority of the coin it's fairly spread out. Short of making a democratic republic I'm not sure what would work better. One wallet = one vote could also have problems. Btw I enjoy the discussion. It's heathy in the future for the coin. Btw I'm just a supporter with my own opinions but I see lots of potential in the coin.

• • • • • • •. I think your concerns are valid. I raised the exact same concerns. For example, initial adopters of SMART received 400% returns on SMART rewards from initial investment in the first month when the price was abysmally low, and after that receive compound interest on this crazy number. Therefore the early adopters have an insane amount of leverage and rewards from getting involve early. However, to be devils advocate any coin that starts will always have those who reap the most rewards at the beginning. It's just the way the system has to work.

However, it does have the effect of short dumps after rewards day but if you look at the price (outside of the October masternode saga) it's actually caused a very consistent steady appreciation, which will be good for investors and merchants. I always felt that adopting a pool of SMART and returning a set percentage for a set time i.e. 20% of the pool per month would have been a much better system for stability. The voting scheme, again, had the exact same concerns. In fact, it does put me off being involved in it sometimes.

But if you look there are many times small players like myself can actually make the final decision on proposals as they were quite split. That is the power you have.

Also, proposals need to be benefitting the community anyway otherwise they will not pass the pre-proposal normally. The fact that their smartrnode is only 10k SMART is going to be a game changer IMO. The rewards won't be particularly high as so many will become involved, but it will cause: 1) multiple people to continue to hold the currency as they have to stake their 10k 2) massive amounts of nodes mean quick transaction times and increased adoption, with true decentralisation 3) Those who use the nodes also get Smartrewards on top if they leave the wallets alone So even if you're a lil guy like me, getting set up with a node will be good for you, just as much as it would for a whale. Ultimately I feel exactly the same you do and have done since I became involved, however I do feel that the project despite these concerns is fantastic, and I become involved in community coins like this as I believe in them.

• • • • • • •. 1.) Yes, I can clarify that for you. Anyone who is getting involved with SmartCash thinking that they will make a fortune by accumulating SmartRewards, then they should just sell their SmartCash right away. SmartCash is not paying any interest nor this a dividend. 2.) For people who cannot afford to hold why will it be that their money will be worth less over time?

If they cannot afford to hold it in the first place then that means they are either selling it or using it for commerce/trade straight away. If they are not doing that then that means they are holding, which implies that they can afford to hold. 3.) Transparency ensures haves don't just trample the have nots. And No, we are not taking a company shares approach like ownership in a stock. SmartRewards/SmartVoting and ownership in a stock are two completely different things. Lets not mix them together as it will confuse others or give an impression which is not true.

• • • • • • •. I think that your response just shows more weaknesses of a system like this. The Federal Reserve was exalted for solving the run on the bank problems in the early 1900s but that doesn't mean that it was a great solution for the people.

You make a good point about rich holders just gaming the system if weights were skewed. I wasn't suggesting skewing weights to 'socialize' the system. I was just showing how rewards negatively affects the poor more than a no community rewards system would. It seems to me that the rewards are really there to just disincentivise pumping and dumping but I'm not sure that short term price stability is worth the long term implications of rewards.

Your last point is also a good argument against voting with the currency at all as there isn't really a way to prevent the rich holders from dominating the direction of the economy. I get that the rich get richer no matter what but I see crypto currency as a way for the people to be able to have a more fair shot at the economy. Setting up a system that basically guarantees more power to economic policy for those with the most holdings doesn't seem like it gets us a system that's much better than the current fiat systems. Again, I'm not trying to bash this idea - I'm trying to understand its value proposition and ensure that there are satisfying answers/solutions to the sorts of questions I'm raising. • • • • • • •. Your line of reasoning makes sense for ownership in a stock but not for decision making in an economy.

Everyone is affected by the policies of an economy no matter how much currency they hold. Rephrase your statement to 'if you have less wealth, you don't care about the outcome as much' and now it doesn't seem so fair.

My main point here is that this system is a good system for ownership in an investment vehicle where people are choosing investments. I'm less interested in cryptocurrencies as investments and more as viable long term alternatives to the current economic systems.

• • • • • • •. Your first comment is like saying if you have more money in a bank account you should get a lower interest rate. In fact, most banks pay more when you have deposits over a certain amount. SmartCash isn't doing a progressive scale like a bank that would be favoring the wealthy, it is basically paying each smart the same% of the rewards. If you owned 99% of a company stock, would you expect to have a 99% say in what happens with the company? Similar to voting.

The more you own the more you risk losing your investment with bad decisions. And the contrary, the more you own the more you can gain by making good decisions. The incentive is aligned with the risk. Change your statement to the voting system skews the power in favor of those that risk the most.wait that actually sounds fair now. When you earn interest in a bank account, you're being paid for making your savings available for use by others in the form of a loan. It's a reward for providing the economy the use of your funds.

The SmartRewards system is more like if you were to earn interest for holding cash in your house. You are not providing value to the system (aside from the short-term price stability in the early days).

Again with the stock market analogies. I agree that this voting scheme makes sense for investment in stocks but owning a stock is not the same as having a certain amount of wealth. If I'm living paycheck to paycheck and you're a wealthy person from a wealthy family who has a lot of disposable income then do I have less to lose on bad decisions? You can afford a loss because of the cushion of wealth but someone who needs every penny to count can be devastated by bad decisions. Just look at the banking crisis in the US in 2008. The bankers tanked the economy with their terrible decisions but who did those decisions affect more?

The people on Wall Street got by without a scrape and actually benefited from it overtime while those on Main Street had their lives turned upside down. The fallacy in your line of thinking is implying that those who have more wealth are risking more than those who have little. In terms of quantity of currency, sure, but in real practical terms, the have littles have a lot more at risk. • • • • • • •. I am having hard time to certify Smartcash is a fair. Does not make sense. To me it sounds like early steemit days.

If you are there early that means you will hold steemit power and influence for long time. This does not feel like a fair system To make the early distribution well, I think one needs to be sure to use a method like airdrop. Checkout Deeponion for such thing. YOu can see that the distribution occurs to the people. And the wise restrictions and distributory limits allow price appreciation.

But later the stability models helps a ton.

Fellow Steemians, Since there is so much that we have learned together about SmartCash and still a lot left to explore. I decided to do a quick 'How to?' Guide to inform everyone about one peculiar feature of SmartCash, which is also the one of most rewarding feature as well, called SmartRewards. What are Smart Rewards? SmartRewards are a price stabilization mechanism and a way to encourage long term holding. Long term holders are key to the project’s success since the SmartHive treasury needs SmartCash to appreciate in value in order to fund meaningful 3rd party proposals and help grow SmartCash into a successful global crypto-currency. All users need to move funds into addresses larger than 1000 SMART before the 25th of ongoing month till 25th of next month to be counted.

How does it work? Each wallet address holding more then above mentioned amount of SMART in their wallet will get paid every month after an initial 30-day period of holding starting from 25th of ongoing month till 25th of next upcoming month, from the SmartReward block reward allocation of 15%. These payments will occur on 25th of each month. To shed some light on the same, I would like to share a hypothetical instance here.

Suppose if a new user or even an existing user of SmartCash wants to take benefit of SmartRewards feature, in order to do so a user needs to make sure that he/she is holding or have accumulated more than aforementioned SMART in their SmartCash Wallet before 25th of ongoing month and have to make sure they DO NOT Move funds Out Of Their Wallets or SPEND THEM until 25th of next upcoming month. On 25th of next month user will get their SmartRewards credited to his/her wallet. At this point, User is free to choose to spend the entire amount of SmartCash available in his/her wallet or move them out. When you spend funds they move to a new address. If you spend after the new cycle starts, it will not be paid. If you want to allow spending smaller amounts in the future just split up your funds into a few addresses.

What is the Pay-Out? Currently 15% of the total Block Reward is reserved for SmartRewards distribution among Users each month depending on how much are they holding. How to start earning SmartRewards?

In order to start earning SmartRewards, first of all a user has to set-up his/her SmartCash Wallet. • Go to • Download smartcash-qt suitable for your Operating System by simply clicking on suitable link. SmartCash Wallet setup guide on Mac platform can be found here: Steps for SmartCash wallet setup on Windows are as follows: • File which is been downloaded from:, should be in a.zip format on windows. • Unzip it using: • Place the SmartCash-qt folder in your 'C:' drive and launch it by double-clicking smartcash-qt icon • Once wallet is been launched, It will start synchronizing with SmartCash network and depending on your processor's speed and internet connection's speed, it may take a while. • Once synchronization is complete, then a user's wallet is ready to Send/Receive SmartCash.

All that is needed to be done now, is for the user to make sure that he/she is consolidating mining rewards or small transactions into addresses with more than a total amount of 1000 SMART in their wallet and reap the benefit of SmartRewards (provided that they do pay attention to the fact which is **Not To Move Funds Out Of Their Wallet Address nor SPEND THEM ** during an initial 30-day period of holding starting from 25th of ongoing month till 25th of next month). The most important thing to pay attention to here is the User-Friendliness of SmartCash's - SmartRewards program, that a non-tech(y) user need not to setup any confusing configuration or compile a technical node or anything of such sort. Just simply buy SmartCash from an exchange and then transfer it to your wallet and just leave it simply and earn SmartRewards. What if Someone has multiple public address on a single wallet? How to consolidate balance(s) together? Step-by-Step Guide to consolidate your balance(s) at one address.

Step 1: Launch the wallet and go to 'Receive' tab and Create a New Address for consolidation. Step 2: Copy your newly created address and then, go to 'Send' tab.

Step 3: Click on 'Inputs' and then following window should appear: Step 4: As one can see, that in given example there are a lot of 250 SMART in individual addresses that are NOT Eligible for SmartRewards. Your goal is to select these amounts, consolidate them to your liking, and send it to one of your 'other' addresses which you created at Step 1. After you have selected them, click OK. Part of the reason of going through this step is to make sure you don't accidentally spend SMART in those accounts for you to hold. Step 5: Simply Paste the address that you created and copied @ step 1. Fill in the amount, press send, and then go back to the 'Input' box on 'Send' tab.

Step 6: You can now see that your funds are consolidated into the addresses of your choosing. In this example, both of these accounts are eligible for SmartRewards. Now, sit back and relax and watch your money earn money for you. And all of this, is just the tip of the iceberg like I have mentioned earlier as well. Bitcore BTX Mining Future there.

Anyone who will download SmartCash Wallet, Set it Up and tweets about SmartCash, gets to earn extra SmartCash for their efforts to spread awareness as an ongoing promotion by SmartCash Hive's Outreach Team. To know more about it one can simply refer to this guide by: (Please Do not confuse Twitter Campaign with SmartRewards features, there is no similarity or familiarity between them) For quick mining guide check out: This is not all about it, there's more. There are tons of Smart Secrets this crypto-currency has, all of which you and I will be exploring together in my next blog tomorrow. Hence don't forget to follow for more interesting and informative Crypto-Updates. If you believe in changing the world around you, then visit and check-out SmartCash's official website: Download SmartCash's Official Wallet: Join on Slack: Buy From an Exchange: Currently on:, Cryptopia & CoinExchange.io SmartCash's Official Mining Pool: SmartRewards Official Guide: SmartCash's Official Twitter: SmartCash's Official Instagram: SmartCash's Official Facebook: If you find this content useful and informative and would like to Tip SmartCash (Donation Address): SNfKb17BNfkviwaXuCkEWrUFkEXV2vpCur reference.