Wednesday, April 2, 2014

AfriCoin Trading Guide

The AfriCoin Network has launched it's AFC trading site. The following information will express our trading goals and provide you with a step-by-step guide to getting setup and ready for trading.

Industry Issues:
By now most of you have heard about the Mt. Gox heist. You may also notice that new trading sites are entering the ring and boasting about their safe, sophisticated and secure trading technology. In the opinion of AfriCoin, the theft taking place in this new space, has nothing to do with secure technology. The problem at hand is plain and simple; site owners and employees working for the site owners can't help themselves.

In the world of fiat money, when a banking institution is robbed, there is FDIC insurance to recover your loss. Keep in mind, fiat money is printed by the government when they feel like it. With digital currency, there is no such recourse. The result, is you are responsible for the safe keeping of your digital coins.

Our AfriCoin trading site is a bare bones structure, designed with no bells and whistles. This was done on purpose. No one should become comfortable or feel safe and secure inside of any trading site. Get in, make your trades and get out.

With AfriCoin, we recommend a simple process. After your account is setup and your online wallet is created, the following should be the way you handle your transactions:

1. Plan your trading activity on paper before you transfer funds or coins to your account wallet.

2. Right before transferring coins to your account, make sure to generate a new wallet address. This should be done for each trading session.

3. Transfer your coins and execute your planned trades.

4. After completing your trades, immediately transfer your online wallet contents back to your personal desktop wallet.

Keep in mind that the steps listed above is for trading on the official AFC trading site.

AfriCoin trading concept and goal:

Acquire, hold and spend; sell in emergencies 

Acquire - Stage 1. The first step in making an investment in AfriCoin, is to acquire AFC. This can be done in three ways; purchasing via the AFC trading site with bitcoin, purchasing AFC via the AfriCoin Shopping Network and mining.

Hold - Stage 2. Cryptocurrency is a new innovation in computer science and software engineering. Just like early investors of IBM, Apple and Microsoft; you are betting on cryptocurrency becoming the biggest hit since the internet. When examining the Bitcoin block-chain,  its clear that many early adopters that still have their coins are now millionaires.

With AfriCoin, we are suggesting that you hold your investment as long as possible. Fiat currency is unsustainable and cryptocurrency is the wave of the future.

Spend -Stage 3 is where you begin to spend AFC on goods and services with participating merchants. Remember, once you reach this stage, you will want to achieve a favorable balance of trade. That means that you want to earn more AFC than you spend.

Sell - During the first two stages: acquire and hold; you only want to sell if you are in a state of emergency. Keep in mind the goal for AfriCoin is to establish a financial ecosystem. So be strong in holding your position. You want to "hold" until employers and merchants in your life, are paying with; and accepting AFC.

Strategic Investment Path - (SIP)
What we know is key:
  • Supply
  • Supply Rate
  • Trading Cycle
  • Starting Trade Value
  • Investment Goal Agreement (IGA)

Supply - AfriCoin has a maximum coin production of 17 million AFC; to be minted over a 140 year period.

Supply Rate - AfriCoin AFC will be released on a scheduled basis. The initial phase of production is, 50 AFC released per every 10 minutes. For the sake of the 24 hour trading cycle, the initial supply rate is 7,200 AFC per day.

Trading Cycle - 24 hour day.

Starting Trade Value (STV) - After monitoring the cryptocurrency market, AfriCoin has carefully set the starting AFC trading price at $10 per AFC.

Investment Goal Agreement (IGA) - An IGA is a non-binding agreement between AfriCoin AFC investors and the AfriCoin Open Source Society (AOSS). IGA functions as an agreed upon stated plan of action; for acquiring, holding, spending and selling AFC; for the purpose of sound investing, designed to minimize the effects of value volatility.

Basics of Supply and Demand
With a supply rate of 7,200 coins per 24 hour trading cycle; an STV of $10; and, a demand of 7,200 coins within the trading cycle, means that the supply has met the demand. The result is that the trading price will stay at $10 per coin.

If the demand doubles in the next trading cycle, so will the trading price. The same would be true if the demand was cut in half; the trading price would drop down to $5 per coin.

So with AfriCoin, you now know that 7,200 is the number to base your trading decision on. Do you see in the future, that the demand for AFC will exceed this mark? If so, acquire your coins on a regular basis and hold. Your job during this stage is to acquire, hold and spread the word! The only way to reach and surpass 7,200 is that a lot of people have to know about it and get in. 

AfriCoin is a new cryptocurrency and part of the investment goal agreement, is to acquire AFC at the starting trade value and hold, hold, hold. Unless you're in a state of emergency, don't sell your AFC for less than the STV. The potential and possibility of acquiring AFC now and then 30 million people come in after you, is great! But first, we have to secure our bets.

Do to the new IRS rules and regulations, the AfriCoin trading platform will be unavailable until the 1st of May 2014. Both mining and trading of AFC or any cryptocurrency has been greatly effected by this legal development. AfriCoin Network want's to make sure that we all stay in complete legal compliance. CLICK ON THE LINK BELOW:

One of the most important question concerning taxation and cryptocurrency has been answered by the office of Associate Chief Counsel (Income Tax & Accounting).  

If you have any questions about our AFC trading process or view point, leave your posts below.

Thank you!

Return to AfriCoin.Info

AfriCoin Cryptos

21st Century Investment Product! An effective way of securing your investment in AfriCoin cryptocurrency, is to hedge your bet by backing your AFC with real .999 silver. The AfriCoin Open Source Society is proud to introduce:

AfriCoin Cryptos

AFC backed by real .999 silver rounds. AfriCoin Cryptos is, 1 AFC connected via a serial number to 1 Troy oz of .999 real silver rounds. This fine product can be secured in your safe or can be deposited into an IRA account. 

How Is This Possible?
Did you know that precious metals such as gold, silver, platinum and palladium are eligible to be placed into an IRA?

Not all silver and gold products can be placed in an IRA investment account, and it is important you know the requirements set by the Internal Revenue Service (IRS).

Below you can view some of the more popular silver products that are IRA approved: 

Approved IRA Silver Products:
  • American Silver Eagle coins
  • Australian Silver Kookaburra coins
  • Austrian Silver Philharmonic coins 
  • Canadian Silver Maple Leaf coins
  • Mexican Silver Libertad coins, and
  • Bars & Rounds with a purity of at least .999 fine Silver, produced by a manufacturer that is ISO 9000 Certified. (AfriCoin Cryptos is produced by an ISO 9000 Certified manufacturer).
AfriCoin Cryptos will be available for "pre-order" purchase by Tuesday, April 15th 2014. Check back here for updates and new information. Each Cryptos coin will include the silver spot price, manufacturing cost and AFC price.

Why AfriCoin Is Saying, "Silver Is The New Gold." 

Potentially The Greatest Investment In Human History!

If you have the stomach for it, the video below gives you the big picture of what we as humanity have created, developed and nurtured. We are now moving into the next evolutionary stage of financial systems. We as humans create with good intentions; however, we are soon compromised by our physical needs and psychological needs for power.

Survive The Financial Crisis Crash - Buy Vat-free / Vat-free Silver

If you have any questions, post them below and we will try and answer your questions to the best of our ability.

Return to AfriCoin.Info

Sunday, March 30, 2014


The Internal Revenue Service (IRS) is aware that “virtual currency” may be used to pay for goods or services, or held for investment. Virtual currency is a digital representation of value that functions as a medium of
exchange, a unit of account, and/or a store of value.
In some environments, it operates like “real” currency -- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance -- but it does not have legal tender status in any jurisdiction.
Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as “convertible” virtual currency. Bitcoin is one example of a convertible virtual currency. Bitcoin can be digitally traded between users and can be purchased for, or exchanged into, U.S. dollars, Euros, and other real or virtual currencies. 

For a more comprehensive description of convertible virtual currencies to date, see Financial Crimes Enforcement Network (FinCEN) Guidance on
the Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies
(FIN-2013-G001, March 18, 2013).

Any questions or comments? Enter below:

Click here for SECTION 3 (not ready yet)

IRS Notice 2014-21

To get started, you should get your own copy of IRS Notice 2014-21. You can do that now by clicking here.

Now that you have your own copy, lets move forward with covering the Q&A. Each section will be posted and open for questions and feedback. AfriCoin will submit your questions to the right party listed in SECTION 5. DRAFTING INFORMATION. Once we receive the answers, they will be posted where the question was asked. There will be some of you that have a great deal of knowledge in this area. I say, move on to a section that's more interesting or stay and help others that need your input.

Notice 2014-21 
This notice describes how existing general tax principles apply to transactions using virtual currency. The notice provides this guidance in the form of answers to frequently asked questions.

There it is. Does anyone have any questions or comments about section 1? This is important stuff and it will be of great benefit to stay ahead of the curve.

Click here for SECTION 2. BACKGROUND

AfriCoin Wallet QT


Welcome to AfriCoin, the Open Source Society


AfriCoin QT (Desktop Digital Wallet)

The AfriCoin QT is a digital wallet and allows you to make financial transactions with other AfriCoin Society users. The AfriCoin wallet provides you with the ability to store your AFC and keep track of your balance, so that you can send and receive AfriCoin AFC. It's as easy as sending and receiving email. Before you get started, you will want to read some important information first. AfriCoin was developed from the cryptocurrency trail blazer, Bitcoin! 

Bitcoin is here to stay and AfriCoin leverages Bitcoin technology to provide its services. If you are new to cryptocurrency and have little to no knowledge of the program, click here to gain the important knowledge you will need. While you are learning about the Bitcoin wallet and  how it works, follow their steps, download the Bitcoin QT and install.

This is important because AfriCoin trading transactions are accomplished by trading Bitcoin for AfriCoin. By learning from the creators of Bitcoin, you will have no problem in comprehending AfriCoin.

If you are already versed in Bitcoin, you may click the link below to reach and download your AfriCoin QT wallet.

AfriCoin QT

AfriCoin Source Code

 Welcome to AfriCoin, the Open Source Society

The AfriCoin developers used Bitcoin to create AfriCoin. Two years ago, a developer in Africa created the first form of AfriCoin and for whatever reason, did not complete it. Five month ago, the AfriCoin developers recreated new code for the coin and its now available.

We welcome you to join in on creating new applications for AfriCoin. Wallets, ATM machines, cold storage devices; whatever your heart desires and mind creates, we can't do it without you.

Immediate Needs:

  • Wallet QT for the Mac
  • Mining client for the Mac 
  • Smart Phone wallet

 Click Here For AfriCoin Source Code