For all of our members that missed it, let’s recap our AMA with Altcoin Buzz, featuring our co-founder Sean Rach and Shash from The Altcoin Buzz Army on everything happening and coming, here at hi.
- What is hi? What are the products you have built with hi?
- How does hi work on social media?
- The hi Dollar
- Earning with hi Referrals
- hi CashHash and Roadmap
Q1. What is hi? What products have you built with hi?
Hopefully, this video sets up the issue and the top-line solution.
Many of the original financial services firms were member-owned/powered. Credit Unions and Mutual Aid Societies (insurance) were formed to offer services to members on a not-for-profit basis. Though they were constrained by their membership base (geographic or employers), any profits were used for the benefit of the members either with improved rates or other member benefits.
In the current financial system, the people with less money pay more for financial services. Hard-earned income is eroded by fees – from remittances and wire costs to overdraft and ATM charges – while payday loans and finance charges are usurious. They (Banks) make money off you, not for you.
Altcoin Buzz Shash:
My family is a little orthodox Indian. I don’t think I can go to my mom and say ‘let’s get hi together’
How do you expect mass adoption?
Ha. Yes, we try not to take things too seriously… COVID has taught us all that.
We believe that global, open, instant, and low/no-cost movement of money will create immense economic opportunity. That everyone has a right to access financial services and to control their money. That the financial services infrastructure should be designed and governed as a public good and advance financial inclusion.
We believe that sending money should be as easy as sending a text and have worked to make that a reality. A reality where hi is focused on maximizing member value, not profits.
Q2. How does hi work on social media?
I couldn’t stop talking about hi on this chat when I first transferred hi Dollars on WhatsApp. I still don’t get how it works and if it’s real. Can you tell me more about WhatsApp and Telegram bots?
There are no guarantees in life and especially not in crypto but we feel we are at just the beginning. With an addressable market of 3.8B (Smartphones) we are seeking to onboard 100M+ members in the first 18 months.
Yes, agree that once people try it, the switch flips and they get it.
But the pillars of
1) being not-for-profit
2) having a 2-second onboarding over major chat apps – already on your phone
3) and rewarding members for engaging and referring.
Sure, the capability has been there. Libra/Diem/…. talked about it. But it wasn’t built.
So we built it
We are different in many ways. (we feel that “different” is better than “better”)
We have a working product prior to our token creation.
Sending crypto on WhatsApp!! you deserve the support for just trying this IMO!! and I always support exciting and innovative working products so this with your leadership was a no-brainer.
In crypto, being similar can be better also. It really depends on the brand IMO.
Q3. The hi Dollar
So when I do WhatsApp transfer, it’s not on the chain obviously. When does it get on the chain?
So the current hi Dollars are closed-loop prior to our Token event no later than 1 August.
Yes, hi Dollars will be an ERC-20 token initially with likely migration to our own chain in time
The community may get fired up with this:
No later than 1 AUG.
Interesting. Shows max supply as zero. What is the max supply?
I will also include a question (from – Hi id – biden) – what is the total circulating supply of Hi? how to guarantee the scarcity we need?
In fact, today I was filming some new videos to help the community get prepared for what a Token creation means. More coming next week.
Yes, this is another point of difference for us. We are laser-focused on membership. We will be minting tokens based on our membership base (the tokens earned for daily rewards and referrals). As the base grows, we feel that the network becomes more valuable.
Next week I will share the details of the initial minting and then our plan going forward.
We will continue to offer real-time information on the number of hi members and the total number of HI in circulation on our website.
I found the pre-valued tokens a little strange system and hard to explain for ‘old’ crypto people. Can you explain what’s up with that?
Sure. We are in the pre-sale. Based on our membership size, the price has been adjusted. Ultimately, it will be freely traded but we have seen an increase in the price as we have gotten closer to token generation.
Some projects do tranches of tokens with decreasing discounts… not that dissimilar.
Q4. Earning with hi Referrals
By doing referrals, Altcoin Buzz has gathered a couple of grand USD worth of hi Dollars in value. Can the value of these tokens go down below the price I see? Why should people believe that the hi dollar will go up rather than go down?
Thanks for your support.
Q5. hi CashHash and Roadmap
Send and Cashhash are just the beginning. We have shared a roadmap of developments on our site and whitepaper
Sure, the tokenomics have a number of gamifications to drive us forward.
The simple idea of driving mass adoption by giving people their first crypto is an important one not to miss.
Check out the full breakdown of the discussion on Altcoin Buzz here: https://www.altcoinbuzz.io/cryptocurrency-news/spotlight/hi-ama-session-with-co-founder-sean-rach/