Before I get into explaining this new fee, I’d like to talk about the Tester program on the Bank Fiat Exchange. My Bank Partner and I are both surprised that with the current number of members being in the hundreds of thousands and the amount of time that has passed since we open the door to become a tester that at this time only 7,523 people have stepped up to become a tester. Qualifying to become one of the 10,000 testers couldn’t be easier! All you have to do is pay the annual fee of $10 in Bitcoin for your Kringle Cash Back-office. The slowness of the TBC community to take full advantage of such a wonderful opportunity to become a Tester is alarming and has made us question the business model we are using for the ongoing expansion of the TBC community. Paying for a useful back office in Kringle Cash is an indirect way of gathering revenue to cover the costs of expanding the TBC coin network, while also promoting the TBC/Kringle coin.
At this time, we have 373,950 Verified Members and 321,065 of them have received the gift of 100,000 Kringles from the Kringle Cash Giveaway. Yet there are now 555,092 TBC wallets from tbc004.net. We have had quite a bad backlog on TBC transactions and we have almost completed recoding the software to allow multiple daemons to run simultaneously to make scaling the network up possible. That should eliminate the backlog once it is running on the new code. These are not small numbers and we need to be able to cover the expenses of these. Members need support from time to time, and that support costs money. Expanding the servers on the TBC coin to keep up with the number of daily transactions is critically important and that is not cheap to do. Developing the education and information sites also costs money.
Why are there 30% more wallets than members? Well, a group of TBC discounters have been playing cat and mouse with Admin and they keep their TBC coins on the move to avoid being suspended. This strategy only works temporarily until we recognize the pattern and then we suspend all of the wallets branching out of the discounter’s wallets. These silly games also cost Admin to police and enforce.
As you can see by all the facts presented above, Admin needs a direct way to raise revenue ongoing to cover these necessary expenses. Our Bank Partner does not want to put TBC on the Asset side of their books if the risk of Admin becoming insolvent is high. We are centralized for now to grow the community to 1 Billion Members (It’s the only sure way to get to a Billion.) But we will decentralize the whole community once we get there as a long-term way to secure the network of the 1st “Abundance-Based” currency. No, we are not going to follow the roadmaps that other crypto-currencies have taken—too many pitfalls are apparent.
So, if anyone feels the need to directly go to the tbc004.net wallet server to set up a new wallet, they will be asked to pay $10 at that time. All existing members will be given 30 days to pay their $10 Lifetime Wallet Fee. If people use the proper channel, they are getting a wallet by opening a Kringle Cash account and then they have a 30-day trail period before they pay for their back-office/wallet. CERTAINLY, DISCOUNTERS WILL NOT WANT TO PAY THIS EXPENSE AND THAT SHOULD GIVE OUR TBC COIN NETWORK SOME RELIEF AS THEY STOP ABUSING THE WALLET SYSTEM WITH THEIR CAT AND MOUSE GAMES. Some people are going to get upset that we as a centralized currency are charging a $10 Lifetime Wallet Fee. Well, these people have a couple of weeks before the code is finished on attaching the payment processor to the wallet system, and 30 days for the existing members to sell off their TBC and get out before they have to pay this fee. The 1st thing you should know before joining TBC is that we are a private group of people, and no one is forced to join us. Therefore, if you don’t like our policies, or an update in our procedures, you are welcome to leave our community at any time. The rest of you I’m sure are wondering why we weren’t charging this fee in the 1st place, because it is only logical that you have to “Pay to Play.”