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Yes, thanks. I know it is not cryptocurrency. I know it was just a currency to be used inside the taler system. But my thinking was about the exchange. I, as a

by p2hari 5y ago

Yes, thanks. I know it is not cryptocurrency. I know it was just a currency to be used inside the taler system. But my thinking was about the exchange. I, as a buyer, will upload some EUR to my wallet, the exchange then converts it into KUDOS, and I use that to pay the merchant. Now if the merchant has set up the product prices in USD and accepts USD, somehow the KUDOS will need to match the USD. right? So my question was related to that. If that is the case, I see some ways of abusing the system. Maybe set up both merchant and buyer accounts and convert EUR to USD at rates better than the market..

bratwurst3000 5y ago
I think the kudos is only the „container“ for the value in dollars you transferred to it. So one kudos could be one dollar or 100 dollar. Its written down in the kudos. Did I get that right?
- deleted 5y ago
  [deleted]
- wizzwizz4 5y ago
  That's my understanding of it. Kudos is like a gift card.
- p2hari 5y ago
  That is what the document says, but it does not detail in how it is actually done. If I transfer 100 USD, then it should somehow fluctuate to market conditions. So, the question is does GNU taler also vary the kudos to match FOrex rates? If not then how is currency exchange happening in this system.
  - summm 5y ago
    There is no currency exchange in this system. You just setup the system for each existing currency separately. The kudos is really just for development and demonstrating the system.
  - bratwurst3000 5y ago
    No as someone stated its a gift card. A voucher that your bank is giving someone N dollars or whatever. So if the value of dollar decreases the value of your gift card is also decreasing but it is still the same amount of dollars but with less purchasing power Edit: its an anonymous check
- bennnnn 5y ago
  No, Kudos is not a real currency. It was an example for the explanation. Basically it seems the goal here is a sender-agnostic (or currency-agnostic I cant really tell which comes first) payment system which is pretty awesome
summm 5y ago
No, in a real deployment, the denomination will not be KUDOS, but USD, or EUR. You just pay 100 EUR to the bank, the bank issues you, for example, 100 digital coins of 1 EUR each. And you pay with these coins (simplified, there are different sized coins and a mechanism for giving change) It's more like paypal or visa than like bitcoin in this regard.

by p2hari 5y ago

bratwurst3000 5y ago

I think the kudos is only the „container“ for the value in dollars you transferred to it. So one kudos could be one dollar or 100 dollar. Its written down in the kudos. Did I get that right?

deleted 5y ago
[deleted]
wizzwizz4 5y ago
That's my understanding of it. Kudos is like a gift card.
p2hari 5y ago
That is what the document says, but it does not detail in how it is actually done. If I transfer 100 USD, then it should somehow fluctuate to market conditions. So, the question is does GNU taler also vary the kudos to match FOrex rates? If not then how is currency exchange happening in this system.
- summm 5y ago
  There is no currency exchange in this system. You just setup the system for each existing currency separately. The kudos is really just for development and demonstrating the system.
- bratwurst3000 5y ago
  No as someone stated its a gift card. A voucher that your bank is giving someone N dollars or whatever. So if the value of dollar decreases the value of your gift card is also decreasing but it is still the same amount of dollars but with less purchasing power Edit: its an anonymous check
bennnnn 5y ago
No, Kudos is not a real currency. It was an example for the explanation. Basically it seems the goal here is a sender-agnostic (or currency-agnostic I cant really tell which comes first) payment system which is pretty awesome

summm 5y ago

No, in a real deployment, the denomination will not be KUDOS, but USD, or EUR. You just pay 100 EUR to the bank, the bank issues you, for example, 100 digital coins of 1 EUR each. And you pay with these coins (simplified, there are different sized coins and a mechanism for giving change) It's more like paypal or visa than like bitcoin in this regard.