Topic: [ANN] BAGUETTE EGALITE ($BLE) - reality-based currency, and cursor of value [BSC (Read 73 times)

Purposes

Baguette-égalité token will serve two purposes and both goals can be attained independantly, and also strengthen each other:
-Become an actual currency, that people won't be afraid to spend
-Become a cursor of value for other crypto, like a reality-backed stable coin, independant from geopolitical or economical threats

A third purpose also emerges; The token is a provider of stability on consumer prices. It severely impedes inflation.



Circulation
We set the initial (and hopefully final) supply of the coin by a simple multiplication.
We consider around ten billion people on earth and we give each one of them the opportunity to buy ten baguettes of bread each(or the equivalent amount in varied food ).
Then we took this number and multiplied it by two for security.

How it came to be
The value of crypto currencies have quickly become a topic of dispute, over the short decade that they have existed.
The patriarch BTCitcoin  has come to be dubbed "the coin you can never sell" by some people, due to the uncertainty of how high a value it could reach in dollars (after you've sold it).
It is notorious that in the past, BTC owners have sold their coins at less than $0.01 a unit, and it was once common to use it to buy subscriptions to porn websites, or to tip "performers" (for several bitcoins at once!)
Now that BTC is worth above 40 thousand dollars per unit, you can  bet several people regret their purchases from back then (or don't regret....hopefully some of them don't regret)


More recently, in January 2022, elon Musk decided that you could buy Tesla accessories using Doge coins.
My first thought was "wow, that's great, the price of $DOGE will skyrocket! And even if it's just accessories, it's great that crypto currency finally gets a real life value as a currency..."
The price did indeed experience a short-lived pump but quickly dropped back to its averages. Then the though dawned on me that if the price did indeed go ballistic then either TESLA motors would have to constantly revise their accessory prices in DOGE to follow the DOGE value, or the accessory buyers would stop buying overpriced accessories. In any case they would be sure to experience great buyer's remorse once DOGE went from $0.17 to, say $2000.


All these considerations cemented the idea that crypto currencies were not mature enough, not totally usable as an actual currency in real life. Something was missing...


Here are the problems that were identified:

• Crypto prices keep increasing with adoption and nobody can say what is the actual ceiling for any given crypto. BTC went from zero to pennies to tens of thousands. If it is to become the next gold standard then its actual value could become actually infinite. Great as an asset of power to exchange between banks, countries, or shadowy NWO organizations, but very impractical to use to buy bread or a coffee.
• Therefore...what is actually the worth of a given coin? How to decide the final value??? At what price will $DOGE stabilize itself? Nobody can answer that.
• There needs to be a mechanism to actually set a value for crypto currencies
• Crypto currencies are valued in fiat money therefore reinforcing the predominence of FIAT money as a cursor of value. Crypto currencies need to occupy that function!
• Most crypto enthusiasts ask "how much dollars is worth my Bitcoin", we need to switch to a paradigm where people ask "how much BITCOIN is worth my dollars?"
• "-your what?"
• the mechanism to set the value of crypto currency should be independant of FIAT currencies. Especially when some countries are prone to use their currency as a weapon, decide that they can freeze all of it anywhere in the world, decide to make fiat-pegged coins illegal on a whim, or again decide to print so much of their own currency that it becomes as valuable as toilet paper in the span of just one year.
• Most crypto adopters, the large majority of them, use their crypto asset as purely speculative tools (HODL) with no real life usage except to exchange it back for fiat money. The mass media is further cementing this concept in minds and enforcing the paradox of "coins that you can never sell"
• Meanwhile dishonest people are using this off-ground speculative nature of the crypto environment, as well as the greed of crypto adopters, to create all kinds of scams...removing legitimity from the concept of crypto currency altogether
• Nothing in the universe is stable. Nothing has an actual stable value against anything else, stability could only be attained temporarily by intellectual consensus, philosophical or logical, and then enforced by the very people who need to use this stability

Enter the baguette

For more than sixty years, the price of the baguette has been monitored in france, looked as a barometer for inflation it has been steadily recorded, year after year, and suddenly, this appeared as the thing we were looking for!
And....well, I'll make it short because I've already written a lot, we created a reverse barometer for crypto, and what better symbol than the traditional french baguette.
It's a mainstream staple food in many european countries, simple, easy to break and divide,its low price can help generate a high-volume low-price economy to jumpstart the token with full confidence.

The baguette is an elegant model to set value and prices, it is a simple object, made from few raw materials, but it also involves a bit of human workmanship. It is also sold in very high volumes in france and other countries and resistant to market turbulences.

There is a "moral contract" that must be accepted by all entities who start to use $BLE as a currency for the sale/purchase of physical goods. I insist on the notion of "physical goods" as there are no supplementary rules for the purely financial trading of $BLE (on crypto exchanges for example). Any kind of financial speculation is allowed because devoid of consequences on the long-term existence of this token. The following rules only apply once the currency is used for real-life trade of physical goods.

These rules have been stored in the token's smart contract as nine string variables (simple comments would have been removed during compilation) and can be retrieved by code from another contract (by a simple "emit" command for example). They don't really serve any purpose in the code but remain embedded there forever, as a reminder and authority.

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"The usage of baguette-egalite coin as a currency to sell or purchase real physical goods is only authorized under the following conditions:

• -One baguette-egalite coin is the exact price to buy one traditional french baguette of bread of 250 grams, such a the kind routinely sold in France
• -The costs associated with the production of the actual baguette (or other item sold), including raw materials, energy, and wages are included into one baguette coin as a ratio of it
• -The merchant's profit on one baguette is also considered to be included into one baguette-egalite coin
• -One actual bread baguette should be sold for exactly one baguette-egalite coin, no more and no less
• -Other pastry or bakery articles should be sold in multiples or fractions of a baguette coin that are reasonably  proportional to the proportional value of these items when compared to the value of a physical bread baguette.
• -Other physical articles of any kind should be sold when possible, using the same assesment of their value in relation to the value of one actual bread baguette to determine the value in baguette-egalite coin
• -Following these rules, the price of all physical articles must be established as a consensus between seller and buyer, using common sense and good faith to reach an agreement on the price of these articles in baguette-egalite coins.
• -Purely financial trades of this token on exchanges, such as for example, buying or selling the coin against another currency, lending, stacking, etc...  are not subject to any regulations other than the laws of the market.

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It's a "moral contract" and there is no physical authority to enforce it, therefore the adequate usage of this token relies on the good-faith agreement of both seller and buyer, in what I call an "intellectual consensus". Both parties must be watchful and fall into agreement on the price of the articles exchanged before finalizing the sale. It should be a trivial matter in most cases, and in case of disagreement they should refuse the transaction.
For example, I assume that per traditional usage the seller should have the authority to set the price, and the buyer should have the authority to accept or refuse it.

As I said there are no rules for the financial trading of this token against other crypto or FIAT currencies. This bears strong consequences, notably in price variability on the exchanges.
We have considered the possibility that this token could reach prices notably different from the price of an actual bread baguette. For example it could sell for one hundredth of a dollar or, on the other extreme, for one thousand BITCOINS.
We have come to the conclusions that this purely financial price variability will become irrelevant in the long term. And that if the coin becomes adopted as a common currency, arbittrage market forces will slowly, over time, level it to adequate values.
Of course this financial stabilization will only happens over time, so there could be chaotic value shifts in the value of this token during the first few years. Maybe some cutthroat speculation from outside forces, anything is possible...
For this reason, we also do not recomend to use this coin as a speculative asset. Baguette égalité token was created for the real-life use-case, and this real-life usage could be detrimental to the expected financial profits (appreciation or depreciation) from financial speculators.

The $BLE smart contract doesn't do anything fancy. It's a dumb passive coin, and except for the aforementioned strings, it follows the standard BEP20 code from Binance. It can be audited by anybody on BSCSCAN.

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