About The Honest Money
Ever since the financial crisis of 2008 the inflation (measured in tradition fiat currencies – USD, EUR, GBP, CHF and others) is at level of approximately 8-12 % per year (cumulative!) and simple look at the increase in monetary base confirms this assumption. As such it can’t be really considered as honest money anymore:
Just to be clear – this is not some conspiracy theory, this is an official Federal Reserve (FED) statistics – see the references below.
Most small businesses don’t have access to all this new cheap credit – unlike large corporations that even pay out dividends to shareholders using this cheap money – this is just mind boggling.
itcoin and other cryptocurrencies is honest money and we like honest, as such we decided to provide incentives for our customers to use cryptocurrencies through gifting additional credit if they decide to use this as payment method. Any product purchased from us gets you 15% extra for the service renewal.
Example: You paid US200 for the website design (3 pages) and US$60 for the hosting service.
Year #2 comes up and the service is due for renewal and we will give you discount of US$39 (15%*($200+$60)= $39), therefore you pay only US$21 this year (S$60-$39=$21).
Year #3 and the following years it’s 15% on of the original hosting amount (US$60) therefore you pay only US$51 (15%*($60)=$9).
As explained above the World is drowning in high inflation and we believe one way how to avoid this rigged game is to use cryptocurrencies. Just to be clear this does not mean not paying taxes – we chose a region where the taxes are really low and service provided by the local government is very good – we chose Hong Kong. We are more than happy to pay the local taxes as necessary and we still remain very competitive.
On a side note we would totally accept physical Gold (and probably Silver too) however it’s quite inconvenient to ship precious metals and it’s divisibility is complicated. Besides we are Internet based business so cryptocurrency it is at least for now – unless you wish to meet us in Hong Kong in person then payment in Gold is fine.
What is Bitcoin? Please read CNN article “What is Bitcoin?”
Article: Mises: Honest Money.
Article: BusinessInsider.com: If people knew the actual inflation rate, it would implode the entire system
Article: Forbes.com: Is Chevron’s Debt-Funded 4.5% Yield Really Worth 70x P/E, 300% Payout?
Statistics: Federal Reserve Bank of St. Louis: Monetary Base; Total
Statistics: ShadowStats.com: Alternate Inflation Charts
Statistics: ChapwoodIndex.com: The Real Cost Of Living Increase Index