In the previous article, "Swallowing the Bitter Pill: Part One," we discussed revising the membership logic for our coin valuation mechanism, emphasizing the need to protect the value of our coin. Today, we will address how to correct the shortcomings in our previous coin distribution and liquidity strategy.

Correcting the Shortcomings in Our Coin Distribution and Liquidity Strategy

The Ancient Coin project was strategically designed to operate based on trust in humanity, systematic projects, and gold, rather than relying solely on fiscal liquidity, which can often lead to volatility, control by the wealthy, and deflation. Fundamentally, the true value of money lies in trust.

As Xavier Lavayssière from Programmable Finance puts it: "The essence of money is trust. It occupies a unique role as the ultimate form of liquidity. With no intrinsic value, money represents trust in the future ability to use it to settle monetary obligations. However, this trust cannot simply be declared. Each individual must trust the money, its institutions, and its technical design."

Surprisingly, none of the global currencies, including USD and USDT Tether, have liquidity backing. They are considered valuable primarily because users are legally compelled to use them, which is why most fiat currencies have no value or utility outside their jurisdictions. Some currencies, like the U.S. Dollar, British Pound Sterling, and Euro, have gained global trust because they were once backed by gold, banks, institutions, oil, and military power. This historical backing made them internationally accepted. Today, these currencies are printed on regular paper without any backing.

Building Trust with Secure Backings for Ancient Coin Sustainability

Before a currency gains international trust, it must have some form of backing to serve as proof of security and to gain users' confidence. This is why Ancient Coin has established the following as its backings:

1. Ancient Coin is Backed by the People
   Humanity is the most valuable and non-depreciating asset in the world. Humans give value to everything around us. Without people, most things would be worthless. Recognizing the importance of digital currency, the Ancient Society decided to back its coin with humanity—the people who acknowledge and use it. For every new community member, 0.003 grains of gold are added to the coin’s value.

   
    

2. Ancient Coin is Pegged to Gold
   Gold is considered the natural currency of the universe. It was the basic unit of trade in ancient times before fiat currencies were introduced. Gold has maintained its value over centuries without depreciation. Even today, countries and institutions value its utility. To manage volatility and promote growth, the Ancient Coin is pegged to gold.

   

3. Ancient Coin is Supported by Institutional Systems
   The Ancient Coin is designed for perpetual cash flow, necessitating sustainable systems to back its liquidity. This is why we are taking the time to develop such systems, including:
4. The Ancient Media
5. The Ancient Mall
6. The Ancient Meet
7. The Ancient Flip
8. The Ancient Chat
9. Gadget Manufacturing
10. Robotics, and more
11. These systems aim to protect the cash flow and enhance user confidence. Imagine a currency backed by equivalents of Facebook, Amazon, Zoom, TikTok, and WhatsApp. Such backing would make a currency highly valuable, secure, and global. A currency with all these supports wouldn't be concerned with fiscal liquidity; it would be as powerful as digital gold, akin to the U.S. dollar before the Bretton Woods declaration in 1971.

4. Ancient Coin is Backed by Fiscal Liquidity (Cashable ANC)
Initially, fiscal liquidity wasn't part of the Ancient Coin concept. We believed that people would trust the coin, just as they trust the U.S. dollar, which has no liquidity backing. However, we have realized that gaining trust in ANC, especially while our intended supporting systems are still under development, will take time.

We've recognized that people need to be able to exchange or swap Ancient Coin into different asset forms for various reasons. Therefore, strong fiscal liquidity has become necessary, leading to the creation of the Cashable Ancient Coin (Ancient Coin backed by the first three principles and fiscal liquidity stored in the Admin Trust at purchase).

Building a project like this requires time and substantial funding. It takes individuals with strong beliefs and courage to develop it, which is why it has taken nearly three years to produce tangible results. Those driven by fear, impatience, or a "get rich quick" mentality are not suited to build or follow such a project.

Most cryptocurrencies in the market today are backed by liquidity, often in dollar values. When people buy these coins, their prices rise; when they sell, prices fall. Backing a cryptocurrency with fiat is like asking your imperialist for a gun to shoot him, knowing full well he controls the guns. The controllers of fiat currency will never allow a competing asset to thrive as intended, which is why the crypto market is so volatile.

The long-term goal of Ancient Coin is to serve the people of Africa without geographical, cultural, religious, or political barriers. Therefore, Ancient Coin cannot follow the volatile pattern of most cryptocurrencies. Why should a poor African widow suffer the depreciation of her hard-earned assets when a wealthy individual withdraws funds from their wallet? If crypto is indeed money, then it should embody all the attributes of money, such as being fungible, divisible, stable, exchangeable, malleable, durable, acceptable, and serving as a store of value, unit of account, limited supply, anonymity, scarcity, and being counterfeit-resistant.

We should not relinquish such a valuable asset as money into the hands of a few wealthy individuals capable of manipulating the market, as seen in today's crypto market.

Our Previous Distribution and Liquidity Strategy

At the start of the project, to achieve rapid virality, we adopted a distribution system that provided coins at $0.4 and later at $1.00 to the pioneers who supported the project's development. This approach aimed to establish a base for the dispersal of Ancient Coin. However, it resulted in pioneers accumulating large amounts of coins. Approximately one million (1,000,000) ANC was distributed during this period out of the 200,000,000 ANC minted.

The initial purpose of this distribution was not to provide more coins to people from the outset, but rather to encourage redistribution to the masses and request more during the second phase of distribution. The pioneers' failure to redistribute led to them retaining these coins, limiting the popularity of Ancient Coin despite its value.

Moving forward, we have recognized the challenges some people face in holding on until the appropriate systems are established. We observe the desire among people to cash out, swap, or buy goods with the coin. We have remained quiet as the administration of this project, not out of neglect, but because we are striving to magically convert the $0.4 or $1.00 deposited during distribution into $360, as it stands today. It would have been easier if we had sold the coins at the actual price. Even then, people should understand that it would have been volatile, benefiting some while causing losses to others, as is common with every cryptocurrency. Nonetheless, we have a few who are confident and willing to push through until we succeed.

Introduction of the Quick Swap

Considering the analysis from the beginning to this point, I hope you agree that Ancient Coin has a promising future. However, not everyone sees it that way; even some top leaders still doubt the validity of the Ancient Project.

Given this, we propose the introduction of a quick swap to allow people to convert their Regular Ancient Coin into Cashable Ancient Coin, which can be easily exchanged for fiat currency. To achieve this, we will first seek potential investors to inject liquidity into the project. We are currently targeting one million dollars so that the base swapping ratio does not fall below $1. It is important to note that the swapping ratio will strictly depend on the available liquidity.

Those who still believe in the project and wish to retain their regular Ancient Coin can do so until we reach a stage of stability where no cashable concept is needed. These individuals should understand that patience and hard work are required to make this happen as soon as possible. Special arrangements for cashing out will be made for long-term holders as the project progresses.

We need to implement this swap to prevent bad faith and negativity during our growth and publicity phase to attract the masses. We will soon launch a massive publicity campaign across the countries where we have a strong presence, and we must put our house in order before we begin.

Once those coins enter the Admin Trust, they will not be released until we determine the next distribution method that will not undermine user confidence.

Fellow Nobles and Matriarchs, these are the types of systems Africa has been unable to build for centuries, which has indirectly rendered us global beggars. Let's endure and make this happen once and for all. When we succeed, we can establish strong institutions and cooperation to safeguard the continent and the black race at large. I believe we are connected to this project at this time for a reason. Let's make it happen.

We are releasing this article now to prepare for brainstorming and deliberation on the best way forward. As always, leaders will be on the ground to lead and coordinate discussions leading to a future poll that will determine the best conclusion.

Ancient: Everyone deserves the best!
Ancient: Back to our roots!