Bitcoin is Digital Apartheid
Bitcoin is the largest cryptocurrency in the world, with all the bitcoin in circulation being worth over $110 billion. Unfortunately, Black People, Indigenous People, and People of Color have been left out. We believe that over 99% of bitcoin ever mined remains in the hands of white men. Sadly, the bitcoin project has compounded the wealth gap between Blacks and whites. This is clearly a white supremacist currency.
Why BIPOCoin?
BIPOCoin ($BPC) is the reparations currency. BIPOCoin is the first digital token which is designed explicitly to center Black People, Indigenous People, and People of Color in its wealth creation engine. We created this project because we see the Digital Apartheid of bitcoin and cannot accept it. No equity, no peace!
The US Government could make us all equal tomorrow simply by creating more dollars and providing those to Black People, Indigenous People, and People of Color. However, they will not do it because that would jeopardize the historical privileges of white men, who have maintained ownership of the vast majority of financial and other assets. So, we have launched BPC as a digital token to address these historical inequities.
How does BIPOCoin actually help?
There are 16.19 million BPC.
Of these BPC, we have reserved 50% of the $BPC for a one-time grant to a single institution most committed to financial freedom and equity for Blacks, Indigenous People, and People of Color. That is over 8 million $BPC. If the price of $BPC reaches just 12 dollars per coin, this grant will be worth over $1 billion dollars. Keep in mind that the price of each bitcoin (btc) is over $11,000 at the time of BIPOCoin launch. So, there really isn’t an exact limit as to how expensive $BPC could become. Once the price reaches $12, we will reach out to the institution to provide them all of these coins. Our plan is to seek a community vote on the institutional recipient.
Also, we are offering ‘Individual Equity Grants’ to BIPOC influencers, thinkers, activists, artists, and entrepreneurs. Each Equity Grant will be worth 1,000 BPC. Allies who are white will be eligible for Equity Grants too. However, their grants will be worth 500 BPC, with 500 BPC of the grant taken as a ‘tax’ on white privilege and reserved for BIPOC.
In addition to Individual Equity Grants, we are also seeking to provide ‘Movement Equity Grants’ to BIPOC-led organizations. These grants are not in a fixed amount but we envision a range of 2,500 BPC to up to 50,000 BPC for each Movement Equity Grant.
How will this help Black, Indigenous and people of color?
The value in cryptocurrencies like bitcoin is that their price rises as individual investors seek to purchase the coin and hold it as savings for future spending requirements. This is like saving in a bank, except you do not need to deal with any bank in order to hold the asset. BIPOC have been largely frozen out of inherently white supremacist coins like bitcoin, so that as the price rose from $1 to $1,000 to $10,000 per coin, nearly all the wealth gained by holding bitcoin accrued to white men. We are seeking to offer the same wealth-building opportunity to BIPOC with this new BIPOCoin by ensuring its distribution is equitable up front.
What is the future of BPC?
If BPC becomes widely adopted by BIPOC communities everywhere then the wealth that will be created by the rising value of BPC will be retained by those communities.
Should white people buy BPC?
Allies should buy and transact in $BPC. Every day the price of $BPC rises, BIPOC, who are the core equity holders of $BPC will gain in wealth and this will help to address the historical inequality and systemic oppression which afflict a world still healing from the wounds of hundreds of years of white supremacy.
How will you decide who to give Equity Grants to?
We are seeking applications.
Nominees should meet the following criteria:
- BIPOC and select white Allies
- Have a social media presence with some significance / public presence
- Already know how to use digital tokens such as $BPC (which runs on the Ethereum network)
- Have a history of influencing / advocating for one or more progressive causes, such as:
-Defunding the police
-Prison abolition
-Equal rights, including housing, medical care, retirement, child-care, etc
-Equity of representation in every single profession and level in society
-Reparations for slavery perpetrated by whites throughout history and reparations for the theft of land by white settlers
-Anti-fascism / anti-Trumpism
-Banning Nazis and white supremacists from the internet - For ‘Movement Equity Grant’ applicants / nominees, we would want to understand their plan for ensuring that their entire community or membership is benefiting from the equity we provide them.
Recipients of the Equity Grants do not need to do anything for the BIPOCoin project or advertise its use.
Getting a grant of 1000 $BPC sounds too good to be true. Is this a scam?
The Equity Grants are not a scam. We will send the $BPC to each recipient in exchange for nothing. We will never ask recipients of the Equity Grant to pay us for the BIPOCoin or to provide any personal details, including bank account details, to us.
Equity Grant recipients need to have an Ethereum address (ETH) that they share with us in order to receive the BPC tokens into. Beyond that, we do not request anything of the Equity Grant recipient.
If someone does contact you claiming to be affiliated with $BPC, and asking you to pay them $BPC or other currencies, that may be a scam and you should be careful in dealing with that person.
How do I know the value will go up?
We cannot be sure what the future value of BPC will be. The value depends upon what users are willing to buy and sell it for in the future. This coin may be worth 1 dollar each, 10 dollars each, 1000 dollars each – or maybe nothing at all. That said, we really think BIPOCoin could one day be worth thousands of dollars each, or even more than bitcoin. BIPOC-centered assets can be worth as much as a white supremacist coin like bitcoin, if not far more.