DotFAQs

Frequently Asked Questions

1What is Dot Money?
Dot Money is a new kind of virtual currency that builds on the successful features of BitCoin and community currencies like the Brixton Pound, but with an expanded set of capabilities and features that are specifically designed to help solve the major problems in the world. Dot Money is a powerful private sector solution created by people around the world that will provide every person in the world who qualifies with a monthly minimum living allowance, help to solve the problems of poverty, global economic instability, onerous taxation, the solvency of governments and inefficient welfare programs.

Dot Money is a real world implementation of the ideas put forth in the 2014 book “Dot Money” by Eric Majors.
2What are the units of Dot money?
One unit of Dot Money is called one “Dot” which is not created and backed by debt but is created and valued based on the value of the exchange of tangible capital and human willpower and, more specifically, by the desire to use Dot Money in exchange for goods and services, in support of a stable global economy. You can think of the value of one Dot as equal to the purchasing power of one U.S. Dollar on December 1st, 2014.
3What is the Global Currency Reserve (GCR)?
The Global Currency Reserve (GCR) is the administrator of Dot Money. It is an international organization with representatives from various international governments, businesses and individuals.
4Were can we spend Dot Money?
Dot Money can be spent where people and businesses accept Dot Money. Dot Money can be exchanged with all GCR eligible currencies listed as "Primary" in the GCR's website www.GlobalCurrencyReserve.Com

Dot Money is also unrolling a unique method of point of sale payment system that will enable people to make retail purchases at store without having to carry any paper money, checks or credit cards. Users will simply be able to provide certain numbers to the cashier and the payment will be effectuated. In this way Dot Money will be reduce financial crime and fraud and will be safer to use than carrying other forms of payment.

As an incentive for vendors to use Dot Money, Dot Money administrators will eventually pay the sales tax and vat on Dot Money transactions.
5Is Dot Money a replacement for existing currencies?
Dot Money has many more features than ordinary money. Dot Money is not a replacement for the currencies of the world but can be used to support the value of all currencies of the world. Dot Money does not have a debt based creation system that is needed and provided by local governments and their respective banks, in their own currencies, for lending and temporary expansion of the global money supply. Dot Money provides a critical tool for the creation of money in a way that will be necessary for the governments of the world to solve the problems facing them. Dot Money works to strengthen the currencies of the world by making a market for all currencies within tightly fixed ranges of the rates of exchange. Dot Money does not tamper with the existing systems of global currency exchange, but Dot Money adds to the world a valuable and necessary tool.
6What is the difference between Dot Money and BitCoin?
The Dot Money record keeping software system uses technology derived from the BitCoin, however, Dot Money is specifically designed to help achieve certain constructive goals that were never contemplated by the designers of BitCoin.

Some of the fundamental differences between BitCoin and Dot Money are as follows, Dot Money is:
1. Created and acquired from the GCR and participating banks, exchanges and retail outlets.
2. Uses permanently bounded rates of exchange with all GCR eligible currencies in order to stabilize the global economy.
3. Users can vote on implementations.
4. Can be used with or without the internet.
5. Will have backup record keeping capability designed to survive technology and electricity failures.
6. Has Time Release features allowing anyone to profit from its use.
7. Conditional spending features allow for automated escrow.
8. Administrative body works with law enforcement.
9. Plans to pay sales taxes associate with its transactions.
10. Plans to pay a monthly living allowance to all peaceful individuals in the world.
7What are the ideals and goals of Dot Money?
The ideals and goals of Dot Money include:
1. End Poverty.
2. Provide support for governments.
3. Help stabilize the global economy.
4. Help businesses to save money and lower costs.
5. Help reduce the necessity for governments to collect income taxes.
6. Help mitigate, lower or completely eliminate the national debts.
7. Provide a tool for ordinary people, businesses, institutions and governments to protect the value of the money they've earned.
8. Implement the Dot Master human based backup system to survive technology failures and hacking attempts.
9. Provide for use in the most remote locations on Earth and beyond.
10. Help facilitate all means of global barter exchanges.
8How do I get some Dot Money?
Dot Money will become available after the launch of Dot Money and may be obtained in the following ways:
1. By working for the GCR.
2. Directly Purchase Dot Money from the GCR or at reduced rates from banks and currency exchanges around the world.
3. Become a Liquidity Provider.
4. Accept Dot Money as payment.
5. Use Dot Money as a hedge for currency speculation.
6. Sign up for, qualify and receive the Monthly living allowance (about $1,600 USD net per month).
9When will the Dot Money system be released?
Dot Money is being rolled out in several Phases on a schedule that can be changed in order to best facilitate the growth of the system. The initial launch of Dot Money will occur when the Global Currency Reserve (GCR) offers Dot Money and Time Coded Dot Money for sale. The launch date can be found on the Dot Money website www.DotMoney.Cash. The current phases of Dot Money and their tentative times to be achieved are as follows:

Phase 1: Development, Pre-Registration & Crowd Funding.
a. Initial partners, businesses, banks, exchanges and liquidity providers are integrated.
b. Software is built and integrated.
c. Individuals and organizations can pre-register to use Dot Money.
d. Individuals and organizations can help crowd-fund Dot Money.
e. Dot Money Agencies (Dot Masters) and participating banks and merchants are solicited.
f. The Global Currency Reserve (GCR) works with governments to finalize the initial list of countries whose currencies are eligible to be exchanged for Dot Money by the GCR and the specific rates of exchange for each eligible currency. This list of GCR eligible countries that don’t restrain the use of Dot Money will be expanded as and when other countries agree to allow Dot Money to be used within their borders.

Phase 2: Release.
a. Dot Money is available to be purchased by subscribers to the system.
b. Any rewards for those who helped to crowd-fund the Dot Money Project will be announced.
c. Dot Money can be used to purchase goods and services from participating vendors and can also be purchased by any currency speculators, traders or funds managers who want to use Dot Money to create hedges in their trading.
d. Dot Money can be converted into other GCR eligible currencies within the rates established by the GCR by buying and selling Dot Money at eligible Dot Money exchanges.
e. Dot Money will work with banks and governments to install identification verification systems at locations around the world that will enable people to sign up to receive the Basic Monthly Income (BMI).

Phase 3: Government Assistance.
a. Administrators of Dot Money will begin to pay the sales taxes to respective governments for any transactions being conducted using Dot Money.
b. Individuals and users of Dot Money from all over the world will be able to register with Dot Money in order to receive a minimum monthly income payment, where Dot Money will also pay any income taxes associated with these payments to the respective governments of each of the individual recipients (if necessary).

Phase 4: Individual Basic Income (BMI) Integrity Tests.
a. Once enough qualifying people have signed up for a minimum monthly payment then Dot Money administrators will begin to pay people each month with Dot Money. This can help ensure that nobody in the world needs to fall below a minimum level of existence.
b. The payments will start out at low levels in order to test to make sure that the integrity of the system holds up.
c. Income taxes associated with these monthly BMI payments will be paid by Dot Money to respective governments of Dot Money recipients (if required).

Phase 5: Individual Basic Income is Increased and Adjusted.
a. Based on system integrity tests from Phase 4, minimum monthly payment amounts will be increased each month accordingly until a subsistence level monthly payment is reached.
b. The goal of the Dot Money system is to provide every qualifying person in the world with a minimum monthly net payment (after taxes) of at least $1,600 USD based on a valuation of purchasing power as of December 1, 2014, with all associated income taxes paid to the respective governments of the individual recipients.

Phase 6: Expansion of benefits and establish Dot Money supply controls.
a. Eventually direct payments by Dot Money administrators to service providers (insurance companies) or governments will be expanded in order to provide basic medical care for people.
b. Implementation of methodologies to provide for the expansion and contraction of the Dot Money supply, based on the population of the world, will be implemented (i.e. life insurance policies or monthly deductions from supply based on the population of Dot Money subscribers).

For more detailed information about Dot Money please refer to the book, “Dot Money” by Eric Majors.
10How can I enter into a partnership with Dot Money or get a job working for the GCR?
Please go to the GCR's website www.GlobalCurrencyReserve.Com and click on the "Partnership Applications" main menu item and then locate the tab that best describes what you would like to do.
11How can an individual help support the launch of Dot Money?
But if you like the goals of Dot Money and want to really do something to help then here is what we recommend:

1. Crowd Funding. We strongly encourage you to participate in our crowd funding program. By making a (non-tax-deductible) donation to our project you are showing support for the Dot Money ideals and helping to keep the project under the control of ordinary people from around the world. Rest assured that Dot Money will look for ways to reward people who make donations to the cause of Dot Money whenever opportunities arise.

2. Purchase Dot Money products. Dot Money has an online store where it sells the Dot Money book, publications of Dot Money as well as T-shirts and other items. Purchasing any of the items from the Dot Money store helps with the Dot Money Project.

3. Take the Dot Money online polls. From time to time Dot Money creates polls and asks people to cast their votes either for or against certain ideas, including the idea of Dot Money itself. These polls are used by Dot Money in order to help develop the project and to provide politicians from various countries information about the ratio of people that support Dot Money. These polls can be very influential. Just as people pay to cast their votes for their favorite artists on popular televised contests, we believe that it just as important for people to also express their vote on the important world changing business of Dot Money. In addition, charging people some small fee to submit their opinions also helps to ensure that we are getting real votes from real people and not automatically computer generated chaff.

4. Volunteer. Dot Money has an enormous global mission which includes ending poverty. The Dot Money mission involves work in countries all over the world. We welcome help from anyone who believes in what we are doing. If you would like to volunteer to work for Dot Money please go to the website of the GlobalCurrency Reserve.com and click on Partnership Applications and then on Individuals in order to volunteer and to find paying jobs when they are offered by the GCR and Dot Money.

5. New and Events. Please pay attention to the news and events that are being held in relation to Dot Money and the Global Currency Reserve and please sign up and attend these events and stay informed.

6. Make some noise. Register for Dot Money at the website of www.DotMoney.Cash. If you can afford to buy a Dot Money shirt then ware it in public, tell your friends to help support us. From time to time we run awareness campaigns to help inform everyone from politicians, bankers, businesses and ordinary people. Please register for Dot Money and call your representatives in government to encourage them to continue to support Dot Money and the Global Currency Reserve. We may organize some events and ask you to attend in order to show your support for the concepts of Dot Money. Please help support us in any way you can. And please do inform others. Request and send emails to business owners encouraging them to accept Dot Money as soon as it becomes available.

7. Buy and use and hold Dot Money. Obviously, when Dot Money launches and becomes available for purchase, we encourage you to do so.
12Where can I find more specific information about Dot Money?
More specific information about Dot Money can be obtained by purchasing the following publications:

1. Dot Money the Global Currency Reserve, Questions & Answers 2015 edition.

2. The book Dot Money.

3. There are also several free videos about Dot Money that provide more detailed information. You can view these videos by clicking on the Dot Money TV button. Most of the videos are available in several foreign languages.

The books are also available in many different foreign languages from our bookstore and in major outlets such as Amazon, CreateSpace and most major book stores.

Purchases of any of these books and any of the merchandise from the Dot Money Store help the further the Dot Money project.

Dot Money Questions & Answers

Dot Money Questions & Answers is a comprehensive document explaining the reasons why Dot Money will change the world.