Introducing: Coin of Jake ($JAKE)

I have created a cryptocurrency. Naturally, it is called Coin of Jake. The currency’s symbol is $JAKE.

$JAKE is for me and the community I am building with your help through this blog, my podcast, my Twitter, and perhaps other means in the future.

The concept of creating a currency is quite novel, so I expect people will have a number of questions about what it is and how it works. I cannot answer all of them at this extremely early stage, but I can address a few things up front.

Just as Bitcoin has a finite maximum supply of 21 million BTC, Coin of Jake has a finite maximum supply of 10 million $JAKE. That is to say, there will never be more than 10 million $JAKE in the world. It has a certain scarcity by definition, which tends to be a valuable intrinsic characteristic.

While there is currently no means by which one can buy $JAKE, there are and will continue to be many opportunities to earn it. Because Twitter is better suited for the purpose of facilitating opportunities to make $JAKE at this point in time, the majority of these opportunities in the beginning will be offered by me there.

In the near future, $JAKE will be listed on Uniswap, a decentralized exchange where people can go to buy, sell, and trade various cryptocurrencies, soon including $JAKE. After it is listed, the market will determine the value of a $JAKE. In the beginning, I am thinking about $JAKEs like dollars but ones which I have a lot more of than actual dollars, enabling me to incentivize some value-creating earn opportunities among a number of other actions by people who want to make $JAKE. The tweet below was one of the very first examples of this from yesterday. If you read through the replies, the quality and quantity of them tells me that this was a great first step. One could learn a surprising amount simply by reading all of the responses to this tweet and the articles which people linked to along with them. Fundamentally, I do not think the responses would have been of nearly as high quality nor quantity without $JAKE, and so it is already creating value which would not otherwise exist.

I have always been interested in discovering undiscovered talent. To some degree, some of my earliest supporters believe that I currently fit that description. My intentions with $JAKE are to reward these people for their early belief in and support of all that I am doing, and to use this currency to create value for those people, for the world at large, and for myself.

Since this would be somewhat of an unprecedented accomplishment if done in the long-run, I of course cannot make any promises. I certainly do not want people to go buy a bunch of $JAKE and lose money which of course is always possible with any asset, especially one as speculative as this will be in the earliest days of its evolution. I want to be clear that I cannot guarantee that this will work by any means, but I sincerely believe that it will. I believe in myself, and although it will be as much up to all of you as it will be up to me, I will do my best to make $JAKE a success.

The link below will allow you to own a stake in $JAKE. Consider it a literal token of my appreciation, a small piece of equity in this community. (If you are reading this past a certain point in time, all $JAKE will already have been claimed via this link. Email me or send me a DM on Twitter and I will give you your first $JAKE.)

Your first $JAKE is free to redeem and will be held in the wallet of the account that you will create on Roll. For those who are more familiar with crypto or plan to be in the future, $JAKE can be transferred off of Roll to any ETH Wallet as you please. For those who have already claimed their first $JAKE from my original introduction on Twitter or one of the opportunities to make $JAKE that has been offered thus far, you can still use the link above to add to your balance. Let’s just say it pays to both follow me on Twitter and subscribe to my blog.

Already, well over 100 people own a stake in $JAKE. Soon there will be more than 1,000. I believe there is great potential in the possibilities for this growing community, and I am excited to see what happens. This is only just the beginning. As always, I appreciate your ongoing support.

– Jake