Intro to Sparks
What are Sparks?
Sparks are the denomination of a new virtual currency from the team at SparkMoney. As a virtual currency, Sparks are the cornerstone of a new, worldwide virtual economy.
Why would you give away Sparks for free?
Simply put, the create a worldwide economy from scratch, one must have economic participants... and they need currency to buy and spend. The greatest challenge we face is adoption and acceptance of the new currency. Thus, our goal from the very beginning has been to put Sparks into the hands of millions of people.
Is Spark a cryptocurrency?
No. Cryptocurrencies can be bought and sold via online exchanges. This means that cryptocurrencies are not easy to acquire, manage, or spend. Moreover, they are prone to wild swings in value, with nearly all activity fueled by speculation. Spark is different. Spark is not for sale. Spark is not available via online token exchanges. There will be no Spark ICO.
Will Sparks have value?
Yes. Sparks will soon gain value because they are useful (albeit in a limited capacity) as a form of currency. Spark has many of the characteristics of money (durability, scarcity, divisibility, and recognizability) based on the properties of economics and mathematics (rather than relying on physical commodities like gold and silver) or trust in central authorities (as per Dollars, Pounds or Euros). With these attributes in place, all that is required for a form of money to hold value is trust and adoption. In the case of Spark, we are currently building both trust and adoption via a massive giveaway of billions of Sparks. As we grow the base of Spark owners, Spark's future value comes (primarily) from Spark owners' willingness to both spend and accept it as payment.
What is the Spark Economy?
Imagine if Amazon, eBay or Etsy operated using their own proprietary, internal currency. That's a pretty good approximation of the model for the Spark economy. We are giving away Sparks to 250 million people around the world as the first step towards building a vast, multi-billion dollar online ecosystem where members can buy and sell from one another using Sparks instead of dollars. To "prime the pump" we are giving away billions of Sparks.
How big can the Spark Economy become?
There is a wide range of possibilities. But with positive momentum and adoption, plus a few years of growth and development, there's no reason we can't exceed $500 billion in annual activity, putting Spark on par with the economies of Spain, Mexico, Switzerland and Sweden.
Will there be a finite amount of Sparks?
Our current plan includes the creation and distribution of 625 billion Sparks. That's a lot of Sparks. However, our Economic Committee will address this subject later this year. But even if we limit Spark generation to 625 billion, Sparks can be demoninated into smaller units. Currently Sparks can be divided to 2 decimal places (0.01), in the same way dollars divide into pennies.
What is the benefit of being an early adopter?
Early adopters are given a significantly larger amount of Sparks. As we build the Spark community, future Spark owners will receive fewer Sparks at signup.
Signing Up
What do I need to join Spark?
Two things: your name and your email address. That's literally all you need.
What does it cost?
Signing up is free. Membership is free. Claiming your Sparks is free. You can even earn more Sparks (by completing simple and easy tasks) for free. We will never try to sell you Sparks.
Why should I join Spark?
Spark is an opportunity for anyone to claim a significant financial windfall in what may become a major global digital currency. Even if you don't share our vision or even believe we will be successful, there is nothing to lose in claiming your Sparks now. If we do succeed, everyone involved will enjoy the rewards and benefits.
Why should I invite friends?
The most important aspect of Spark is the community which surrounds it. By inviting friends and family, you are actually helping increase the chances of success by raising awareness and bringing more people just like you into the ecosystem. (Once you register an account, your dashboard will display your personal invitation link. Simply share this link with friends and family or post it online. Anytime someone clicks on your link and joins Spark, you earn thousands more Sparks.)
Safety & Security
Is this safe?
Membership is completely safe. All you need to join is your name and email address. We don't ask for personal information or payment information. We do not send unsolicited spam or sell member data.
Is this some kind of scam?
We don’t ask for your money or credit card information, so there’s really no way for Sparks to be a scam. Sparks are not for sale. We ask only for your name and email address so that we can stay in contact with you.
Is Spark a Ponzi scheme?
A Ponzi scheme is a fraudulent investment scheme that pays returns to its investors from their own money, or the money of subsequent investors. Thus, Ponzi schemes require financial investment. Sparks are free. We expressly avoid selling Sparks and never ask for your payment information in exchange for Sparks.
Why do I need to confirm my email?
Email confirmation is an industry standard best-practice for any online membership or ecommerce account. Confirming member email accounts helps eliminate bots and swindlers from our ecosystem.
What are the risks in signing up? What will you do with the data I provide?
There are no risks. We do not ask you for money or payment information. We only need a name and an email address to stay in contact with you. We store your personal data securely and we don’t sell or share it with anyone. If at some point in the future Spark is no longer viable, SparkMoney will permanently delete all member data.
Using Sparks
How can I use my Sparks?
Real world transactions between two individuals can be completed using the "Transfer Sparks" functionality on your Spark dashboard. All Spark holders may transfer funds from one account to another at any time. Spark transfers are instantaneous and the transaction is visible on both party's dashboard.
Can I use my Sparks in stores?
No. Admittedly, this is a long-term goal for us. But to be completely transparent, this would likely require a massive transition from digital currency to crytocurrency. We have no plans to transition to a cryptocurrency at this time.
Can I use my Sparks online?
Soon! We are busy at work building Version 1.0 of the Spark Marketplace, where all members will be able to purchase digital goods and services using Sparks. In the future, we will create the Spark Ecosystem, where members will be able to buy and sell goods and services directly from one another.
Can I transfer funds to a friend or family member?
Absolutely! From your dashboard, click "Transfer Sparks." Simply enter the transfer amount, the recipient's email address, and confirm the transaction. The Sparks will be transfered immediately, in real-time.
Are my Sparks really worth $25,000?
There are a number of economic forces and processes which will determine the exact value of Sparks in the future -- supply vs demand, for example. Your Spark holdings could be significantly less than $25k or significantly higher. $25k is an estimation based on existing economic models. There is more information in our Terms of Use.
I signed up but didn't receive $25,000. What's up?
Per our Terms of Use, new members receive 30% of your Sparks up front. You then earn the rest by inviting three friends. After your balance reaches $25,000, you may continue to earn more Sparks by inviting more friends and participating in our various Spark-generating activities.
If I want more Sparks, can I buy them?
No. Sparks are not for sale and we have no plans to sell them in the future. But there are several ways to earn and otherwise acquire Sparks via your network of friends and family.
How can I earn more Sparks?
The fastest way to earn Sparks is to invite friends and family using your personal invitation link. Everytime someone signs up using your link you earn thousands of Sparks. Members also earn Sparks by answering daily brain teaser questions from the SparkMoney staff. These questions appear on your dashboard. We are also currently developing new methods by which our registered Spark owners can increase their holdings by playing games or completing simple tasks.
Regarding Cryptocurrencies
Is Spark a cryptocurrency?
No. Cryptocurrencies must be bought and sold via online exchanges. This means that cryptocurrencies are not easy to acquire, manage, or spend. Moreover, they are prone to wild swings in value, with nearly all activity fueled by speculation. Spark is different. Spark is not for sale. Spark is not available via online token exchanges. There will be no Spark ICO.
Is this an ICO (Initial Coin Offering)?
No. An ICO is the cryptocurrency version of an IPO (Initial public offering) for stocks. In an ICO, the public purchases new cryptocurrency coins. Our vision is entirely different. We want to enable millions of people to participate in the growth of Sparks, which will not happen if they are required to pay. Therefore, we are distributing over $500 billion in Sparks for free.
How is this different from an “air drop”?
'Air drop' is a term describing the free distribution of cryptocurrencies. Yes, Sparks will be distributed for free, however the vast majority of 'air drop' currencies are really trying to entice people to purchase further coins. Sparks are not for sale. Moreover, Sparks are not a cryptocurrency.
Will Sparks become a cryptocurrency in the future?
Admittedly, we are intriuged by this possibility. But to be completely transparent, we have not yet surveyed the legal and regulatory landscape for such a transition. But if the Spark economy succeeds with millions of users, we may very well attempt to convert everyone's Sparks into a real currency in the future. For the time being, we have no plans along these lines.