Bitcoin Goes Down, Liracoin Rises Up

Zurich, Switzerland – 2018 showed terror in the crypto world. Bitcoin lost 80% of its value, and so for the most part, altcoins followed in this fall.

In this scene, a cryptocurrency entered the market in March 2018, making a lot of noise among converts to cryptocurrencies: Liracoin.

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Liracoin (LIC) is one of the 10 cryptocurrencies with the highest growth in 2018, with an increase in LIC/BTC of 720% (from 0.0001 BTC to 0.00072 BTC) and an increase in LIC/USD of 400% (from $0.60  to $3.2). requested a call interview with one of the members of a the Liracoin’s DAMO (Decentralized Autonomous Meritocratic Organization) to ask how it was possible to maintain values in a crisis period of cryptocurrencies, as users of the currency have increased, appearing as the first business they accept as a means of payment. Everyone asks as soon as they discover the project: who are the creators?

DAMO: Liracoin is an organization managed and distributed in a blockchain, managed by a DAMO, the first decentralized autonomous meritocratic organization.

The DAMO was founded by 20 members who financed the creation of the Liracoin infrastructure, with the aim of creating a new blockchain management model.

A decentralized autonomous meritocratic organization has the ability to use blockchain technology to provide a secure and digital ledger that tracks financial interactions on the internet, using its strength to prevent counterfeiting, thanks to the concept of “timestamp”, so that every DAMO participant can check.

To access the DAMO, there are different requirements including the amount of financed money, participation, meritocracy, community, and technological support. This implies that decision-making power is in the hands of an untold number of people that will increase over time, right?

DAMO: Following the interests of users is essential. A currency (whether digital or traditional) has no value without its users, so the focus is on the person from the beginning, how the project can be an instrument to improve his/her life. Even the dollar would have no value if nobody used it, but it, like all traditional currencies, is imposed on the people; Liracoin will be chosen.

Every user has value. In the meritocratic system of Liracoin, users who register more merits have a stronger voice that reaches the project management body. By “merits”, we mean: quantity of Liracoin owned, people with whom the user shared the Liracoin with, and the training service held in the community. It is not just about economic availability (as in the DAO structures); Liracoin wants to give value to those who can support the communities. Bitcoin has scared many investors and users in recent months. From the numbers, it seems Liracoin has not recorded deep oscillations despite its value is linked to Bitcoin; how was that possible?

DAMO: Thanks to our community. The trust every person has towards Liracoin is the power that allows it to remain stable in value and continuous growth. This trust is possible thanks to the sharing of information and training regarding cryptocurrencies and blockchain. Ignorance is the greatest source of fear. Liracoin shares the community’s training material constantly in order to better understand the nature of cryptocurrencies and Liracoin’s message. We are not investors; we are adopters and ambassadors. What is expected in 2019 for Liracoin?

DAMO: An extraordinary spread. The community has understood that the key is to make Liracoin a means of payment between people and business. When it is no longer necessary to exchange Liracoin with other currencies to buy what you want, we will have realized the beginning of our economy. Liracoin is now accepted by about 200 different businesses worldwide (mainly restaurants and telephony stores). If we managed to reach this goal in less than a year, 2019 will be a show.

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