Funding the Party

#1

The party seems to be new, and likely doesn’t have much in the way of income or tangible assets. One thing I am sure of is that every member here does have a computer, or access to a computer. With this in mind I propose adopting cryptocurrencys as a source of income for the party. We could set up a general fund, and perhaps eventually create our own coin. If you have never heard of cryptocurrencys look up Bitcoin or Dogecoin. Currently Dogecoin looks like the best long term investment in the cryptocurrency world. Unfortunately it has just reached the point of becoming basically unmineable without a large initial investment in hardware and power consumption costs. Luckily there are many other altcoins that can still be mined, though there tangibility for profit in the future is more uncertain. I personally am investing in Dogecoin, and have just stopped mining due to the rising difficulty. I am currently mining Pandacoin now. Anyway the opportunity cost of these investments is quite good (especially if you compare it to any other) currently, and as an example I have invested around $1200 in Dogecoin, if you consider hardware and raw funds used to purchase the coins. Currently I have almost 2 million Dogecoin accumulated in only three months. If the value of Dogecoin goes up in the near future (1-3 years) say around 50 cents per coin, then I could be looking at around one million dollars worth of Dogecoin. If the value per coin reaches only ten cents my total profit would be around two hundred thousand dollars. I’m sure you can see the viability of this method to produce sizable returns that could be used to fund the party. Anyway I encourage you to research cryptocurrencys further if your interested. I’m open to any questions.

Currently the best investment right now would be to purchase sizable quantities of Dogecoin and hold them for the future. Pandacoin seems to be the next best viable alternative in my opinion.


1 Like
#2

I would say a new party needs funding. Is there anybody out there who is wealthy and wants to support this party with money, no strings at all attached? After all, a party can’t grow big without going on the road. This will cost money.

Edit: This post was moved from another similar topic. - Roberto

#3

We’ve requested donations in the past to fund the cost of our servers. There’s a pending update regarding this, due to upgrades, new stuff and to keep people abreast of where donations are going etc. Anyone interested in donating is welcome to do so over here: http://meritocracyparty.org/donate/ (PayPal or BitCoin)

In regards to funding in general for Meritocracy Parties, the main sources of income I foresee for an individual party are membership fees, donations, legacies, merchandise and subsidies. This last one is something party’s will have to discuss and decide upon, as it has pros and cons. The main consideration with subsidies is that you end up dependent on state funding, but that’s not necessarily bad, it depends on the country and the way that party wants to run itself. For example, it could accept the subsidy and use it exclusively on social programmes that further Equal Opportunity for Every Child, and not on its own finances.

Another way we can generate income on a broad level, is starting up meritocratic businesses that donate, for example, their profits to a particular party or to an international Meritocracy Foundation which then spends it on programmes to further Meritocratic Democracy and/or distributes it to party’s in need. In case it’s not clear, profits refers to anything that’s left over after paying for its operational costs (material, salaries) and budgets. This is a big topic though which is deserving of its own category “Meritocracy in Business”. If more people are interested in this, I’ll set it up. But by interested I mean anyone who understands that a business is a model that generates income, and that to be viable you just have to be better than your competitors (and -not- invent the latest greatest gizmo, although that’s cool too if you have the resources/talent to do so).

In regards to cryptocurrencies, I don’t see them viable in the long-term when compared to other alternatives such as mutual credit clearing https://en.wikipedia.org/wiki/Mutual_credit. Also see http://www.amazon.com/The-End-Money-Future-Civilization/dp/1603580786 for the full, practical picture of what I mean.

That’s not to say, they won’t be viable, but I have a very hard time picturing them satisfying mainstream needs as they’re produced in limited quantities and their valued is pegged to existing legal tender (which is pegged to its own value). One big question with currency is the need for an objective unit of account. That’s the “thing” or “things” that measure the value of currencies. In the past it was gold and silver, but in today’s day and age there are proposals such as a “basket” of the most highly traded commodities - real stuff that has value (I’ve never understood the gold/silver obsession, it has industrial uses and is limited in supply, but other than that, it’s no good as a basis for currency).

@McScrad If you think cryptocurrencies are viable in the long-term, or that they can at least generate a profit if invested in, then I wish you the best in the endeavour. You’ve for sure studied it a lot more than I have, I just have my reservations about its long-term future (aka 20, 50, 100, 500 years). And if you end up making buckloads of money that can be invested in Meritocratic Democracy, then that’d be awesome of course.

To anyone thinking about investing in cryptocurrencies, make sure you read your stuff and treat it as any other investment. E.g. look at BitCoin as they started the trend, read its history, what’s been happening lately and so forth.

2 Likes
#4

Thanks for the advice! Yes, for me it is a short term investment (2-3 years).

1 Like
#5

I would be interested in a Meritocracy in Business category. It has a lot of the same qualities a social enterprise which is a field I am currently involved in. I understand business and the need to generate an income based on the merit of your product/service.

#6

I see funds for M organizations being meager for quite some time into the forseeable future. By the very nature of our platform, those hardboring mainstream sensibilities (i.e. those who hold the purse strings), will be totally turned off by our central message. On top of that, I wonder how many of us here either come from well-to-do families or work high-paying professional jobs… :wink:

Anyway, if any interesting creative ideas for fundraising schemes happen to arise I’ll be sure to share them here.

#7

Has the community here considered crowd source funding for the Meritocracy Movement? This may be a practical way to raise thousands of dollars. It’s also a project that this community could easily collaborate on to ensure the pitch and representation of Meritocracy is dialectically refined to maximize appeal. @Roberto @Neo @Anoymous

#8

I don’t think we’re at the stage yet where we can launch a crowdfunding campaign. We need to develop our vision, test it in the field, refine and so on. We need an existing, sizable, audience for it to be successful in my opinion.