Today your online world is a mirror image of your offline world. Connecting with your family and friends through
work, hobbies, and other social groups helps create and define your “Social Freedom” – freedom to share important or unimportant aspects
of your life.
Imagine this “Social Freedom” making its way into your work life and/or your personal time – making it possible to earn and spend money digitally without third-party boundaries or country borders?
For example, consider the online 3D game Second Life and its digital game currency, the Linden Dollar. This digital currency has not only defined the way the game is played, but it has found a new home on specific social networks.
Another interesting development is Bitcoin and similar currencies, often referred to as ‘math’ currencies. These digital currencies are decentralized from government issue. They are completely free to move from person to person – social network to social network – with nearly zero cost.
All these forms of digital currencies are here to stay. They present themselves as viable options to an exchange of something more valuable – at little or no expense to exchange. What we will see is the ability for social networks and social freedoms to choose each other more easily without friction. New network economies will develop. New areas of virtual capitalism will use micro-payments for specialized e-business opportunities. Social digital currencies are going to change the way you work and socialize.
Whether your goal is to purchase your first Bitcoin – or leave one social digital currency for another – our exchange can help you. Dedicated to your social freedom of choice, our number one priority is offering you an exchange solution that is safe, secure … and easy to use.
Remember that these forms of money are just the beginning of social digital currencies. Embrace them now and open your world to what could be your greatest freedom. While we are still in private beta, please use the ‘Contact Us’ form below if you have questions about our service or would like to be notified when we go live.
WHAT IS THE BOLT?
The Bolt is a digital medium of exchange – an online social currency designed to explore the boundaries of our social freedoms.
The Bolt follows all legal parameters, yet ventures into the unknown by facilitating new dimensions in commerce through the digital exchange of real value.
Value that is disconnected from current online payment systems.
Bolts are not designed to eliminate national currency created or supported by its central bank. They are digital currency that gain their financial backing through the regression theory of value based on our current monetary system. Bolts hold this store of value online, while offering the freedom of movement between any two parties – with no additional cost.
Two key factors in the conversion process of government-issued currency (GIC) into the Bolt, is that once it is completed, the number or initial value of your currency cannot be lost. Second, once you convert your GIC into the Bolt, your purchasing power is tied to the purchasing power of the "Special Drawing Right" (SDR) of the International Monetary Fund (IMF) and its value against other international currencies. In other words, it has moved from a real world measure of domestic value to one that is now completely digital and measured globally.
For general questions regarding the Bolt, please see our FAQ section. For more specific questions or to inquire about GIC conversion, please click on the 'Contact Us' link.
Is there any fees or costs associated with Bolt payments or transfers?
No. Fees are not incurred when using the Bolt as a form of payment.
Can I exchange or sell Bolts for 'Government Issued Currency' (GIC) on this exchange or another?
No. Once you have converted your GIC into Bolts, they cannot be exchanged or sold back into hard currency.
Then is it possible to take my holdings of Bolts offline?
Yes. When your account has reached a minimum value based on the SDR, you may opt to have your funds transfered to your selected banking facility. As the U.S. financial regulations settle on virtual currencies our system will adapt and offer the best available options.
Can I accept Bolts if my business transactions are offline, online, or both?
Yes. Our authentication process allows for quick payment processing.
Can I make micro-payments with Bolts?
Yes. Bolts are a perfect way to make micro-payments. We encourage the practice for e-work and other forms of e-commerce where small or micro denominations are needed.
As a qualified business, can my Bolts be sold and the proceeds transferred to my business checking account?
Yes. Qualified businesses can sell Bolts for hard currency and accept direct deposit into U.S. based financial institutions. FinCEN, MSB and IRS laws apply.
Can Bolts be stolen?
No. Due to the authentication process the ability to lose or have Bolts stolen is impossible.
What is the verification process?
User authentication and receiver authentication processes Bolt transfers. This authentication process also gaurantees that no Bolt can ever be duplicated or spent twice.
Are Bolts divisible and by how many?
Yes. Divisible to 1/100th of a Bolt.
Is GIC conversion available outside the United States Dollar?
No. Currently it is not. International options are being explored.
Does the U.S. government regulate Bolts or its transactions?
No. But specific FinCEN, MSB and IRS laws and regulations apply. If you have a specific question, please contact your tax advisor.
This FAQ section is a broad list of important concerns. A complete FAQ will be available with our live beta.
Is funnymoney.com like other digital currency exchanges?
Yes in the services we offer, and we want to offer more, but on how you will interact with the site, no. The issue behind current exchanges is how they are designed. Some are better then others but most are very difficult to use. We are taking a unique approach to our user interface so that viewing your account balances and the movement from one social digital currency to another is as easy as looking at your online bankstatement.
Does the Bolt compete with Bitcoin or other social digital currencies?
No. The bolt has a more centralized core where the Bitcoin platform is completely decentralized. The freedom to choose which online digital currency you feel protects your personal needs is key. Our service supports Bitcoin along with 99% of other online currencies as well as offering another option: the Bolt.
How will I purchase Bolts and is there a bank fee?
Currently, due to regulatory issues in the U.S. regarding virtual currencies, all options are being explored; both domestic and international. There is no fee when purchasing Bolts.
How quickly do Bolts transfer between parties?
The transfer of Bolts happens instantly. The speed it takes to send or receive a text message is the standard measure of time.
Is the value of the Bolt stable?
Yes. Bolts possess specific monetary traits that insure their stability and gaurantee the benefits of time preference.
What financial backing supports the value of a Bolt?
The unit of account, 'Special Drawing Right' (SDR) used by the International Monetary Fund (IMF) in international settlements. The SDR derives its value from strict percentages, based on a basket of four fiat currencies (January 1, 2011: U.S. dollar 41.9%, Euro 37.4%, Pound sterling 11.3%, Japanese yen 9.4%). Two of the most important aspects of the IMF's 'SDR' is its ability to hold a stable comparative unit of measure against the most widely used currencies within international trade and also hold the trust of the world's central banks.
Can buying Bolts help avoid fiat currency devaluation?
Yes and no. Because the Bolt's value is determined by the current SDR rate, it is possible to protect your online purchasing power. By its very design, the SDR is a buffer against major currency fluctuations. The issue on the no side, is that its value is also determined by a basket of fiat currencies. The important point is that these currencies are the most highly traded currencies within international trade and that velocity of currency movement is where the real value lies. This makes the SDR a perfect reserve currency to base the Bolt's value on.