Wealthcoin.com Review

Based on looking at the website Wealthcoin.com, it appears to be a conceptual exploration of a decentralized, wealth-backed monetary system rather than an operational platform offering immediate financial services or products.

The site delves into complex ideas about currency design, critiquing existing fiat systems and proposing an alternative where currency value is tied to real wealth and managed by individuals, not central banks.

The content is highly theoretical and academic, focusing on the technical and economic principles behind such a system, including discussions on cryptography, automation, and commodity-backed currency.

Here’s an overall review summary:

• Purpose: Primarily an academic paper and conceptual framework for a new monetary system.
• Operational Status: Not an active financial service or product. It’s a detailed theoretical proposal.
• Key Concepts: Decentralized, wealth-backed currency, anti-usury principles though it mentions lending at interest if the owner wishes, transparency, anonymity in transactions, and resilience against central planning.
• Pros: Deep dive into monetary theory, critiques of existing financial systems, emphasis on individual wealth creation, and transparency.
• Cons: Highly theoretical, not a tangible product or service, extremely complex concepts, and direct application for the average user is non-existent. The discussion of “lending at interest if the owner of the credit wishes” also raises concerns for those adhering to strict Islamic finance principles which prohibit riba interest in all forms.
• Ethical Stance Islam: While it aims to counter central bank usury-based systems, the explicit mention of lending at interest even if optional for the credit owner means it does not fully align with the fundamental Islamic prohibition of riba. The concept of dynamically stable currencies backed by commodities could be interesting from an Islamic perspective, but the allowance of interest is a significant red flag.

The website presents a detailed intellectual endeavor, exploring the possibility of a monetary system immune to debasement and central control.

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It critiques the current global fiat credit system, attributing its failures to central planning and human greed.

The proposed “Wealth Coin” system aims to link currency value mathematically to widely traded physical commodities, allowing individuals who create wealth to also create credit.

This is an intriguing concept, advocating for a shift in power from central authorities to individual wealth owners.

However, for those seeking practical, Sharia-compliant financial solutions, Wealthcoin.com, in its current form, is a theoretical framework and not a ready-to-use platform.

Its mention of optional interest-based lending contradicts a core principle of Islamic finance, making it problematic for those seeking fully ethical alternatives.

Given that Wealthcoin.com is a conceptual paper and not an active financial service or product, direct alternatives in the same vein are difficult to pinpoint. However, for individuals seeking ethical and Sharia-compliant financial solutions, especially those interested in wealth management, ethical investments, and alternative financial structures that avoid interest riba, here are some of the best alternatives:

• Amanah Ventures: A platform focused on ethical, Sharia-compliant investments, offering opportunities in real estate and other asset-backed ventures. It emphasizes tangible assets and profit-sharing models.
  • Key Features: Sharia-compliant real estate investments, diversification, ethical screening.
  • Price: Varies by investment opportunity.
  • Pros: Direct investment in real assets, avoids interest, focuses on ethical growth.
  • Cons: Investment opportunities may be less liquid, requires understanding of real estate market.
• Wahed Invest: An automated investment platform robo-advisor that exclusively offers Sharia-compliant portfolios. It diversifies investments across Sukuk Islamic bonds, global equities, and real estate.
  • Key Features: Fully Sharia-compliant portfolios, automated rebalancing, low minimums.
  • Price: Management fees typically range from 0.49% to 0.99% annually depending on account size.
  • Pros: Easy to use, accessible for various investment sizes, strong ethical screening.
  • Cons: Limited customization of portfolios, fees can add up over time.
• Fasset: A digital asset exchange focused on ethical and Sharia-compliant digital assets. While still in a developing space, it aims to connect traditional finance with the digital economy in a permissible way.
  • Key Features: Sharia-compliant digital assets, focus on emerging markets, secure trading environment.
  • Price: Transaction fees vary.
  • Pros: Innovative approach to digital assets, potential for high growth in a new market.
• Islamic Finance Guru IFG: While not a direct financial service, IFG is a leading resource for Sharia-compliant financial advice, products, and investment opportunities. They review and recommend various ethical platforms.
  • Key Features: Comprehensive guides, product reviews, community forums, ethical investment insights.
  • Price: Free access to most content. some premium resources or courses may have a fee.
  • Cons: Not a direct financial service provider, requires self-directed learning.
• Saturna Capital: Managers of the Amana Funds, which are among the oldest and largest Islamic mutual funds in the United States. They offer various equity and income funds screened for Sharia compliance.
  • Key Features: Long track record, diverse Sharia-compliant mutual funds, professional management.
  • Price: Expense ratios for mutual funds vary, typically ranging from 0.70% to 1.10% annually.
  • Pros: Established and reputable, offers diversification through mutual funds, strong ethical screening.
  • Cons: Higher expense ratios compared to some ETFs, requires traditional brokerage account.
• Islamic Coin ISLM: A digital currency project aiming to adhere strictly to Islamic financial principles, including a commitment to avoiding riba and investing in ethical ventures. It’s a cryptocurrency built on its own blockchain HAQQ network.
  • Key Features: Sharia-compliant digital currency, deflationary mechanism, community-governed.
  • Price: Volatile, like other cryptocurrencies. market price fluctuates.
  • Pros: Innovative approach to Sharia-compliant digital finance, strong ethical framework.
  • Cons: High volatility inherent in cryptocurrencies, still in early stages of adoption, complex for new users.
• Zoya App: A mobile application designed for Muslim investors to screen stocks for Sharia compliance. It provides a quick and easy way to check if a stock is permissible to invest in.
  • Key Features: Real-time Sharia screening, portfolio tracking, market insights.
  • Price: Free tier available. premium features for a subscription fee e.g., $9.99/month or $99.99/year.
  • Pros: Empowers individual investors, user-friendly interface, comprehensive screening criteria.
  • Cons: Primarily a screening tool, not an investment platform itself, relies on third-party brokerages.

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Wealthcoin.com Review & First Look

When you first land on Wealthcoin.com, it’s immediately clear that this isn’t your typical financial services website.

There’s no flashy call to action for signing up, no “invest now” buttons, and no direct product offerings.

Instead, you’re greeted with a dense, academic-style paper titled “Owner Credit / Wealth Coin.” This isn’t a platform.

It’s a profound conceptual exploration of a radically different monetary system.

What is Wealthcoin.com’s Core Proposition?

The site, authored by Perry Kundert, proposes a secure, distributed method for creating dynamically stable monetary systems. Fitoes.sg Review

The fundamental idea is that each unit of currency would be defined and created by the ownership of real wealth, in stark contrast to the current fiat credit systems managed by central banks.

It’s a critique of the global financial order, suggesting that human greed inherent in central planning leads to instability and exploitation.

• Critique of Fiat Currency: The author asserts that the global fiat credit system has “imploded” and that its inherent flaws, particularly usury interest-based systems and central control, lead to inflation and the devaluation of wealth for citizens.
• Wealth-Backed Currency: The core innovation is a currency whose value is mathematically related to the intrinsic value of physical, widely traded commodities. Imagine currency units tied to a basket of commodities like electrical power, gold, or cereal grains.
• Decentralized Credit Creation: Unlike current systems where banks create credit, Wealth Coin envisions credit being created by those who generate actual underlying wealth. This shifts power and control away from traditional financial institutions.

The Problem with Usury and Central Banks

The paper directly addresses the historical and ongoing issues with usury-based central bank monetary systems. It highlights how these systems enable the “constant drain of wealth from the economy toward the central and commercial banks caused by the payment of interest on credit creation.” This perspective resonates with Islamic finance principles, which strictly prohibit riba interest due to its exploitative nature and its tendency to concentrate wealth.

• Elimination of Interest Drain: A significant claim is that the proposed system would eliminate the wealth drain caused by interest payments, thereby benefiting wealth creators directly.
• Empowering Citizens: The system aims to disempower figures like Robert Mugabe and central bank heads, making them “powerless against the sheer defensive force of wealth created and wielded by their own citizens.” This is a bold statement about financial sovereignty.
• Multigenerational Wealth Transfer: The paper suggests that units of credit in this new system could be stored and passed down across generations without loss of value, a critical feature that the author argues is impossible with current usury-based systems.

Wealthcoin.com’s Proposed Features

Wealthcoin.com details a fascinating blueprint for a monetary system that seeks to fundamentally alter how currency is created, valued, and transacted.

While it doesn’t offer a live platform, the conceptual features outlined are highly technical and ambitious. Maternityinsoles.com Review

Dynamically Stable Currencies

The cornerstone of the Wealth Coin proposal is the concept of a dynamically stable currency.

This directly addresses the instability perceived in fiat currencies.

• Commodity Basket Linkage: Unlike fiat currencies, which are not backed by physical commodities, Wealth Coin currency units would be mathematically linked to a basket of physical, widely traded commodities. This could include anything from kilowatt-hours of electrical power to kilograms of gold.
• Real-time Value Adjustment: The value of the currency unit would be held dynamically stable by varying a “credit factor K.” This factor adjusts continuously—potentially sub-second—based on the real-time pricing of the commodity basket. The author mentions using an “industrial process-control feedback damping control algorithm called a PID control loop” for this, indicating a highly sophisticated, automated mechanism.
• Transparency: All factors influencing the currency’s value—commodity prices, inflation/deflation, and the credit factor K—would be transparent. This transparency aims to empower individual wealth creators to issue or redeem credit for their own benefit, not for central planners.

Decentralized Credit Creation and Ownership

The proposed system fundamentally redefines the role of banks and individuals in credit creation.

• Individual Wealth Conversion to Credit: The ownership of wealth by individuals would be immediately convertible to credit in the currency, proportional to the credit factor K. This means your physical assets could directly generate currency units.
• Banks as Aggregators: Traditional banks, usually the “creators” of credit, would be relegated to the “menial role of ‘aggregators’ of credit.” Credit would originate from those who create the actual underlying wealth. This is a dramatic shift in power dynamics.
• Proportional Credit Creation: New credit would be created proportionally to the creation of new wealth and the ebb and flow of liquid credit. If prices decline deflation, K increases, allowing more credit to be created to purchase under-priced wealth. Conversely, if prices increase inflation, K decreases, encouraging the selling of wealth for credit, which drives excess liquidity from the economy.

Transactional Transparency and Anonymity

The system attempts to balance public visibility with individual privacy.

• Universally Visible & Completely Anonymous Transactions: This is a bold claim, suggesting that while every transaction is universally visible on the system, the parties involved remain anonymous. This balance is often sought in decentralized systems, with a focus on cryptographic security.
• Provably Valid Accounts & Accounting Balance: Every transaction would be provably between owners of two valid credit accounts, and the system would maintain accounting balance before and after every transaction. This ensures no credit is created or lost until it’s redeemed by un-pledging the wealth it was created from.
• Cryptographically Secured: Transactions are described as “cryptographically secured,” allowing either party to choose to prove or reveal their part in a transaction if desired. This aligns with modern blockchain and distributed ledger technologies.

Wealthcoin.com Pros & Cons

Given that Wealthcoin.com presents a highly theoretical framework rather than a live product, its “pros” and “cons” are evaluated from an academic and conceptual standpoint, especially concerning its alignment with ethical financial principles. Daretodate.com Review

Conceptual Pros

The intellectual depth and ambitious scope of the Wealth Coin concept offer several potential advantages, particularly for those critical of existing financial systems.

• Addresses Root Causes of Financial Instability: The proposal directly targets what it identifies as fundamental flaws in fiat, usury-based monetary systems: central control, inflation, and wealth concentration. It offers a systemic solution.
• Focus on Real Wealth Backing: By pegging currency value to a basket of real commodities, the system aims to create a more stable and intrinsically valuable currency, potentially insulating it from political manipulation and speculative bubbles. This contrasts sharply with fiat currencies, which derive value from government decree.
• Empowerment of Individual Wealth Creators: Shifting credit creation from central banks to individual wealth owners is a revolutionary concept. It promises to give individuals greater control over their financial destiny and directly link their productive efforts to economic power.
• Transparency and Auditability: The commitment to transparent factors commodity prices, K factor and auditable transactions though anonymous builds trust and reduces the potential for hidden manipulation, which is a significant concern in current opaque financial systems.
• Elimination of Interest Partially: The explicit goal of eliminating the “constant drain of wealth… caused by the payment of interest on credit creation” is a major conceptual pro, particularly from an Islamic finance perspective. This aims to foster economic activity free from the burden of riba.

Conceptual Cons

Despite its ambitious vision, the Wealth Coin concept, as presented, has significant conceptual and practical challenges, especially concerning its alignment with strict Islamic finance principles.

• Allowance for Lending at Interest: This is the most critical conceptual flaw from an Islamic perspective. The text explicitly states: “Credit could be used – spent, traded, given, stored, lent – without usury. Of course, it could be lent at interest if the owner of the credit wishes eg. to companies, strangers.” This directly contradicts the categorical prohibition of riba interest in all its forms within Islamic finance. While the system aims to remove the systemic usury of central banks, its optional allowance for interest means it is not a fully Sharia-compliant solution.
• Highly Theoretical and Complex: The system relies on advanced concepts like “PID control loops” for real-time adjustments and intricate cryptographic proofs. Its implementation would be extraordinarily complex and likely face immense technical and logistical hurdles.
• Lack of Practical Implementation Details for Mass Adoption: The paper is a theoretical treatise, not a roadmap for a functioning global currency. It doesn’t detail how millions of individuals would “attest” their wealth, how disputes would be resolved, or how a global network of commodity pricing and real-time adjustments would be built and maintained securely and efficiently.
• Regulatory Challenges: Even if technically feasible, any system attempting to replace or compete with established fiat currencies would face insurmountable regulatory and governmental opposition globally. The author acknowledges this, stating, “Any successful attempt would be short lived, as the native monetary system’s authorities and beneficiaries simply cannot abide a successful competitor.”
• Commodity Volatility and Definition: While tying currency to commodities provides intrinsic value, commodity prices are inherently volatile. Managing a “basket” that truly represents “true ‘value’” across diverse economies and ensuring fair valuation on a sub-second basis for items like “live chickens” presents immense practical challenges and potential for manipulation.
• Security and Centralization Risk Even if Distributed: Despite claims of decentralization, any complex system requires governance. Ensuring truly decentralized “attestators” and “re-insurers” without creating new forms of centralized power or vulnerability would be extremely difficult.

Wealthcoin.com Alternatives

Given that Wealthcoin.com is a highly theoretical exploration of a new monetary system rather than a functional financial service, direct “alternatives” in the traditional sense are not applicable. It’s not a platform you can sign up for or a product you can buy. However, if one is drawn to Wealthcoin.com’s critique of the current financial system, particularly its concerns about usury riba and centralized control, and is seeking ethical, Sharia-compliant financial alternatives, then the focus shifts to legitimate Islamic finance products and services.

The critical point from an Islamic perspective is that while Wealthcoin.com discusses eliminating systemic usury from central banks, it explicitly states, “Credit could be used – spent, traded, given, stored, lent – without usury. Of course, it could be lent at interest if the owner of the credit wishes eg. to companies, strangers.” This allowance for interest, even if optional for the individual, fundamentally contradicts the absolute prohibition of riba in Islam. Therefore, Wealthcoin.com, despite its intellectual ambition, is not a fully Sharia-compliant solution.

For those genuinely seeking ethical, interest-free, and socially responsible financial alternatives, the following categories and specific products/services offer viable and Sharia-compliant pathways: Infinityrealtyguam.com Review

1. Halal Investment Platforms & Funds

These platforms and funds strictly adhere to Sharia principles, avoiding interest, gambling, alcohol, tobacco, non-halal food, and other prohibited activities.

• Wahed Invest: A leading robo-advisor for Sharia-compliant investing.
  • Key Features: Automated portfolio management, global diversification across Sukuk, equities, and real estate, low minimums.
  • Why it’s an alternative: Provides a practical, accessible way for individuals to invest ethically without engaging in riba.
• Amanah Ventures: Focuses on ethical real estate and asset-backed investments.
  • Key Features: Direct investment in tangible assets, profit-sharing models, aligns with real wealth creation.
  • Why it’s an alternative: Offers opportunities for asset-backed investments that avoid interest, resonating with Wealthcoin’s focus on real wealth.
• Saturna Capital Amana Funds: Offers professionally managed Islamic mutual funds.
  • Key Features: Long track record, diversified portfolios screened for Sharia compliance.
  • Why it’s an alternative: A traditional, reliable option for investing in Sharia-compliant public equities and Sukuk.

2. Sharia-Compliant Stock Screening Tools

For those who prefer self-directed investing, these tools help ensure individual stock choices are permissible.

• Zoya App: A mobile app for real-time Sharia screening of stocks.
  • Key Features: Comprehensive screening criteria, portfolio tracking, market insights.
  • Why it’s an alternative: Empowers individuals to ensure their investments are free from prohibited elements, aligning with the spirit of ethical financial autonomy.
• Islamicly App: Similar to Zoya, providing stock screening and analysis from an Islamic perspective.
  • Key Features: Global stock screening, Sharia-compliant company reports, news.
  • Why it’s an alternative: Offers another robust option for individuals to make informed, Sharia-compliant investment decisions.

3. Islamic Crowdfunding & Peer-to-Peer Platforms

These platforms facilitate ethical financing by connecting investors directly with businesses or projects on a profit-and-loss sharing basis, avoiding conventional interest.

• LaunchGood: While primarily for social and charitable causes, it represents a model of community-driven, ethical finance.
  • Key Features: Global platform for funding Muslim-led projects and causes, transparent campaigns.
  • Why it’s an alternative: Demonstrates a model of finance based on collective good and direct support, rather than interest-based lending.
• Funding Souq UAE-based, but conceptual: Note: Direct link for US may vary, but the concept is relevant An Islamic peer-to-peer lending platform focusing on SMEs, structured on Murabaha cost-plus-profit or Musharaka profit-and-loss sharing principles.
  • Key Features: Direct funding for businesses, Sharia-compliant contracts, supports real economic activity.
  • Why it’s an alternative: Offers an interest-free alternative for lending and borrowing, directly addressing the riba concern.

4. Islamic Banking & Financial Institutions

Traditional banks that offer fully Sharia-compliant services, including deposits, financing, and mortgages.

• Guidance Residential: A leading provider of Sharia-compliant home financing in the US.
  • Key Features: Non-interest-based home financing e.g., Murabaha, Musharaka models, ethical and transparent.
  • Why it’s an alternative: Provides a practical, interest-free solution for major financial needs like home ownership, in direct contrast to conventional interest-based loans.
• American Finance House LARIBA: Another established institution offering Sharia-compliant financing.
  • Key Features: Various ethical financial products, adherence to Islamic scholarly guidance.
  • Why it’s an alternative: Offers a broad range of ethical financial services that avoid riba.

5. Ethical Digital Currencies Conceptual & Emerging

While Wealthcoin.com is a conceptual paper, the idea of digital currencies that address ethical concerns is emerging. Raydersgoods.com Review

• Islamic Coin ISLM: A project aiming to build a Sharia-compliant digital currency and ecosystem.
  • Key Features: Focus on ethical investment, riba-free transactions, community governance.
  • Why it’s an alternative: While still nascent and volatile like all cryptocurrencies, it represents an attempt to build a digital financial system aligned with Islamic principles, similar to Wealthcoin’s ambition but with a clearer Sharia focus.

These alternatives provide tangible, operational solutions for individuals seeking to manage their wealth and engage in financial transactions in a manner that aligns with Islamic principles, specifically by avoiding riba and promoting ethical, asset-backed economic activity. They offer a practical path forward for those who find the theoretical framework of Wealthcoin.com intriguing but need real-world, Sharia-compliant applications.

How to Cancel Wealthcoin.com Subscription

It’s important to clarify that Wealthcoin.com is not a service or platform that offers subscriptions, memberships, or any form of paid access. Based on the entirety of the website’s content, it functions purely as an academic or theoretical paper detailing a conceptual monetary system. There are no “subscribe” buttons, no user accounts, and no paid features mentioned anywhere on the site.

Therefore, there is no subscription to cancel for Wealthcoin.com.

What the Website Does Offer

The website primarily hosts a detailed article/paper titled “Owner Credit / Wealth Coin,” authored by Perry Kundert.

This document outlines a complex theoretical framework for a new type of monetary system based on real wealth backing, rather than a functional financial product. Namehostbd.com Review

• Content Access: All content on Wealthcoin.com, including the main paper and related discussions, appears to be freely accessible to anyone visiting the site. There are no paywalls or login requirements.
• Purpose: The site’s purpose is to share ideas, research, and critiques of existing financial systems, along with a proposed alternative. It serves as a repository for the author’s thoughts on monetary system design, cryptography, and automation.
• No Commercial Transactions: There are no e-commerce functionalities, no service sign-ups, and no financial transactions facilitated directly on the Wealthcoin.com website.

What to Do If You’ve Encountered a Scam

If you have somehow been led to believe you have a “subscription” or have made a payment related to “Wealthcoin.com” through another channel, it is highly likely that you have encountered a scam or a misleading third-party service that is fraudulently using the “Wealthcoin” name.

In such a scenario, here are critical steps you should take:

1. Do Not Provide More Information: Avoid giving out any more personal or financial information to the entity claiming to be Wealthcoin.com or its affiliates.
2. Contact Your Bank/Payment Provider: Immediately contact your bank, credit card company, or whatever payment service you used to make the “subscription” payment. Explain that you believe you have been defrauded and request a chargeback.
3. Report the Scam:
   • Federal Trade Commission FTC: File a complaint with the FTC at ReportFraud.ftc.gov. This helps the authorities track and investigate scams.
   • Internet Crime Complaint Center IC3: For internet-related scams, report to the FBI’s IC3 at www.ic3.gov.
   • Your State Attorney General: You can also report scams to your state’s Attorney General’s office.
4. Monitor Your Accounts: Keep a close eye on your bank statements and credit card activity for any unauthorized transactions.
5. Change Passwords: If you used any sensitive information like passwords with the fraudulent site, change those passwords immediately on all other accounts where you might have used them.

In summary, Wealthcoin.com itself does not offer any services that require cancellation.

Any mention of a subscription or payment tied to this specific domain should be treated with extreme caution as a potential scam.

Wealthcoin.com Pricing

Just as with subscriptions, it’s essential to reiterate that Wealthcoin.com does not have any pricing structure for services, products, or features. The website serves as a repository for a conceptual paper and related academic discussions about a theoretical monetary system. It is not an e-commerce platform, a financial service provider, or a software-as-a-service SaaS business. Reddishwindows.com Review

Therefore, you will not find any pricing tiers, subscription fees, transaction costs, or investment minimums on Wealthcoin.com because it offers no commercial services.

What You Get for “Free” Public Access

The entire content of Wealthcoin.com, including the detailed paper “Owner Credit / Wealth Coin,” the author’s thoughts on distributed systems, and critiques of current financial models, is completely free to access and read.

• No Hidden Costs: There are no hidden fees, premium content sections, or paywalls. All information is openly available to any visitor.
• Open-Source References: The website links to the author’s GitHub repository for a prototype cryptocurrency from 2008, further indicating a non-commercial, open-source-like approach to sharing ideas and code.
• Educational / Research Focus: The site’s primary function is educational and research-oriented. It aims to present complex economic and cryptographic ideas to a wider audience interested in alternative monetary systems.

What This Means for Users

For anyone visiting Wealthcoin.com, the lack of pricing means:

• No Financial Commitment: You are not required to spend any money or enter any financial details to access the information.
• No Investment Opportunity: Crucially, this means Wealthcoin.com is not a platform where you can invest money. It’s a theoretical discussion, not a real-world investment vehicle or a cryptocurrency exchange.
• Beware of Imposters: If you encounter any website, individual, or service claiming to be “Wealthcoin.com” and asking for money, investment, or personal financial details, it is a scam. The legitimate Wealthcoin.com does not conduct any financial transactions.

What if I’m Looking for “Wealthcoin” as a Cryptocurrency?

The document on Wealthcoin.com mentions a “Wealth Coin” as a concept for a dynamically stable, wealth-backed currency system. It is not referring to an existing, tradable cryptocurrency. The author references a prototype he wrote in 2008 called “Owner Credit” on GitHub, but this is a historical prototype, not a currently live or actively traded cryptocurrency.

• No Official “Wealth Coin” Cryptocurrency: As of this review, there is no widely recognized or actively traded cryptocurrency known as “Wealth Coin” directly associated with the concepts proposed on Wealthcoin.com. Any claims of trading a “Wealth Coin” cryptocurrency from a third party should be met with extreme skepticism.
• Focus on the Idea, Not a Product: The website’s primary value is in its theoretical framework and critique of existing financial systems, not as a source for buying or selling a digital asset.

In summary, Wealthcoin.com operates outside the traditional commercial model. Avawilliam.com Review

It’s a free intellectual resource, not a paid service or investment platform.

Wealthcoin.com vs. Mainstream Financial Systems

Wealthcoin.com fundamentally positions itself as an antithesis to mainstream financial systems, particularly the global fiat credit system and central banking.

The comparison isn’t about feature-sets or competitive pricing. it’s a stark ideological and structural contrast.

Critique of Mainstream Finance

The core argument of Wealthcoin.com is that mainstream financial systems, dominated by central banks and fiat currencies, are inherently flawed, unstable, and exploitative.

• Usury-Based Riba: The website identifies “usury-based central bank monetary systems” as the primary culprit for wealth depletion and economic instability. It argues that the “constant drain of wealth from the economy toward the central and commercial banks caused by the payment of interest on credit creation would be eliminated” in its proposed system. This aligns strongly with the Islamic prohibition of riba interest.
• Central Planning & Greed: The author asserts that “central planners have proven themselves unworthy of ‘managing’ currencies, probably due to the fact that these groups are composed of people, and people are subject to greed.” This leads to corruption, inflation, and ultimately, the “implosion” of the system.
• Lack of Real Wealth Backing: Mainstream fiat currencies are not backed by tangible assets, making their value susceptible to political decisions, economic policies, and speculative forces. Wealthcoin.com argues this leads to arbitrary value fluctuations and a lack of intrinsic worth.
• Opacity: While some aspects of mainstream finance are regulated, the underlying mechanisms of money creation, liquidity injection, and central bank decision-making can be opaque to the average citizen, fostering mistrust.

The Wealth Coin Vision: A Radical Alternative

In contrast, Wealthcoin.com proposes a system designed to circumvent these perceived flaws. Linked-assist.com Review

• Decentralized Power: Instead of central banks, credit creation would be driven by individuals who create real wealth. This shifts power and control directly to the producers and asset owners.
• Intrinsic Value Commodity-Backed: By mathematically linking currency units to a basket of widely traded physical commodities, Wealth Coin aims to provide a stable, intrinsically valued currency, immune to arbitrary government printing or manipulation.
• Transparency by Design: All factors influencing the currency’s value commodity prices, credit factor K would be transparent, allowing individuals to understand and benefit from the system directly.
• Interest-Free by Default with a caveat: The system aims to function “without usury” regarding systemic credit creation. However, as noted in the “Cons” section, the text allows for optional lending at interest by individual credit owners, which is a critical divergence from strict Islamic finance principles.
• Resilience Against Attacks: The paper outlines mechanisms to counter attempts to “corner the market” on commodities, leveraging the collective wealth of the economy to resist such attacks.

Practical Implications and Differences

Feature	Mainstream Financial Systems e.g., USD, EUR	Wealthcoin.com Conceptual
Currency Backing	Fiat government decree, trust in the issuer	Real physical commodities dynamically stable
Credit Creation	Central banks & commercial banks often interest-based	Individual wealth owners from attested real wealth
Interest Riba	Integral to lending, borrowing, and growth of monetary base	Systematically eliminated from central issuance. optional for individuals
Control	Centralized governments, central banks, large institutions	Decentralized distributed among wealth owners
Value Stability	Managed by monetary policy. susceptible to inflation/deflation	Mathematically linked to commodity basket, real-time adjustment
Access & Function	Established, regulated, widely accessible services	Theoretical, conceptual. no live platform or services available
Regulatory Burden	High, extensive regulations e.g., KYC, AML	Aims to bypass or operate outside traditional regulatory bodies
Ethical Alignment	Interest-based, often lacking specific ethical screening	Aims for greater fairness and stability, but permits interest

In essence, Wealthcoin.com presents a profound academic challenge to the status quo, envisioning a world where finance is fundamentally restructured to be more transparent, stable, and less prone to central manipulation and usury.

While its practical implementation faces immense hurdles and its allowance for optional interest is a concern for strict Islamic finance, its theoretical underpinnings offer a compelling vision for a different kind of financial future.

FAQ

What is Wealthcoin.com?

Wealthcoin.com is a website hosting a detailed theoretical paper titled “Owner Credit / Wealth Coin,” which proposes a new, decentralized monetary system where currency value is directly tied to real wealth and not controlled by central banks.

It is not an operational financial service or product.

Is Wealthcoin.com a real cryptocurrency?

No, “Wealth Coin” as discussed on Wealthcoin.com is a conceptual framework for a new monetary system and a hypothetical currency unit. Wedocontracts.com Review

It is not an existing, actively traded cryptocurrency that you can buy or sell.

Can I invest my money on Wealthcoin.com?

No, Wealthcoin.com is purely an academic and theoretical website.

It does not offer any investment opportunities, financial services, or platforms for trading cryptocurrencies.

Is Wealthcoin.com a scam?

Wealthcoin.com itself is not a scam.

It is an academic website presenting a theoretical paper. Lamaisonvalmont.com Review

However, if any third party approaches you claiming to represent “Wealthcoin.com” and asking for money or investments, that would likely be a scam, as the actual website does not offer commercial services.

What is the main idea behind Wealthcoin.com’s proposed system?

The main idea is to create a monetary system where currency units are dynamically stable, mathematically related to a basket of widely traded physical commodities, and credit is created directly by individuals who own real wealth, thereby eliminating central bank control and usury.

Does Wealthcoin.com charge any fees or subscriptions?

No, Wealthcoin.com is completely free to access.

There are no fees, subscriptions, or any form of commercial transaction associated with the website.

Is the Wealth Coin system proposed on Wealthcoin.com Sharia-compliant?

While the Wealth Coin system aims to eliminate systemic usury from central banks, it explicitly states that credit “could be lent at interest if the owner of the credit wishes.” This allowance for interest means it is not fully Sharia-compliant, as Islamic finance strictly prohibits riba interest in all forms. Codertalent.io Review

How does Wealthcoin.com propose to create currency without central banks?

The system proposes that new credit would be created proportionally to the creation of new wealth by individuals, with its value dynamically linked to a basket of commodities.

Banks would act as “aggregators” rather than “creators” of credit.

What is the author’s critique of current financial systems?

The author, Perry Kundert, criticizes current global fiat credit systems for being usury-based, prone to central planning and greed, leading to inflation, and ultimately causing wealth to be drained from citizens towards central and commercial banks.

How would the value of the Wealth Coin currency be kept stable?

The value would be kept dynamically stable by varying a “credit factor K” in real-time, based on the price fluctuations of an underlying basket of commodities, using an industrial process-control feedback algorithm.

What is “Owner Credit” mentioned on Wealthcoin.com?

“Owner Credit” is a prototype for a currency basket denominated value-stable mutual credit cryptocurrency that the author, Perry Kundert, wrote in 2008, predating Bitcoin. It’s a foundational concept for “Wealth Coin.” Enzohonore.com Review

Does Wealthcoin.com offer any contact information?

Yes, the website has a “Contact” link wealthcoin.com/contact which typically provides ways to reach the author, Perry Kundert.

Is there a whitepaper or technical document for Wealth Coin?

The entire website essentially serves as a detailed whitepaper, with the main content being the comprehensive article “Owner Credit / Wealth Coin,” which delves into the technical and theoretical aspects of the proposed system.

What kind of “wealth” would back the proposed currency?

The paper suggests a “basket of commodities” like kilowatt-hours of electrical power, kilograms of gold, tonnes of cereal grains, or even live chickens, demonstrating a focus on widely traded physical assets.

How does Wealthcoin.com address privacy in transactions?

The system proposes that all transactions would be “universally visible and completely anonymous,” and “cryptographically secured,” allowing parties to prove their involvement if they choose, while maintaining privacy.

What are the challenges of implementing the Wealth Coin system?

The challenges include immense technical complexity real-time commodity pricing, cryptographic proofs, significant regulatory and governmental opposition as it challenges existing monetary systems, and practical hurdles in establishing a global, decentralized network for wealth attestation. Agia.com Review

Does Wealthcoin.com endorse specific investments or financial products?

No, Wealthcoin.com does not endorse any specific investments or financial products.

Its content is purely theoretical and does not offer financial advice or recommendations.

What is Sweetbridge Liquidity Protocol, and how is it related to Wealthcoin.com?

Sweetbridge Liquidity Protocol is a prior art project that Wealthcoin.com’s author reviews and critiques.

It proposed a system to attach locked collateral assets to generate interest-free loans, which the author found mathematically impressive but ultimately flawed in its approach to legal authority and reliance on USD.

Are there any real-world applications of the Wealth Coin concept today?

No, the Wealth Coin concept remains a theoretical proposal. Easyincome.xyz Review

While there are cryptocurrencies and blockchain projects that explore asset-backed tokens or decentralized finance, Wealth Coin itself is not a live application.

If Wealthcoin.com is not a service, what can I gain from visiting the site?

Visiting Wealthcoin.com allows you to engage with a deep intellectual critique of mainstream finance, explore an innovative theoretical framework for a decentralized, wealth-backed monetary system, and consider alternative approaches to economic stability and individual financial sovereignty.