5 ms·

But if you had a way to easily create value, why would you give it away? If philanthropy is the answer, why all the fuss about crypto anyways? You can just give

But if you had a way to easily create value, why would you give it away? If philanthropy is the answer, why all the fuss about crypto anyways? You can just give away actual useful money instead.

randomhodler84 5y ago
Sats are the easiest, cheapest thing to send to people globally. Lightning network is the only cryptocurrency construction that would permit such global payments. Launching an erc20 on eth is super dumb. You will destroy most of the value just sending it to folks, and they will need to then buy expensive eth to spend it. Makes no sense.
- glocoin 5y ago
  > Sats are the easiest, cheapest thing to send to people globally Global Income Coin is an economic model carrying a monetary policy: the bottom-up distribution of newly created money. The economy currently mostly runs on inflationary currencies. This means a massive amount of new money is created each year. Taking that as a fact, we propose to distribute this directly and more fairly; Global Income Coin is the implementation of that idea. Sats can't carry that monetary policy since they're non-inflationary by design. So we can't use sats. > Lightning network is the only cryptocurrency construction that would permit such global payments We _could_ use Lightning, and we might indeed in the future if that's the tried and tested best solution. We're not married to any particular platform. We don't need global scale on day one. We're starting on Polygon (so transaction costs won't destroy all of the value)
glocoin 5y ago
That would be direct cash transfers funded by charitable donations, which we think is another great way to alleviate poverty. (If Global Income Coin succeeds it could be the network to carry these transfers.) What we're aiming to unlock is a donation-independent component in addition to that.

5 ms·

But if you had a way to easily create value, why would you give it away? If philanthropy is the answer, why all the fuss about crypto anyways? You can just give

by cuteboy19 5y ago

But if you had a way to easily create value, why would you give it away? If philanthropy is the answer, why all the fuss about crypto anyways? You can just give away actual useful money instead.

randomhodler84 5y ago
Sats are the easiest, cheapest thing to send to people globally. Lightning network is the only cryptocurrency construction that would permit such global payments. Launching an erc20 on eth is super dumb. You will destroy most of the value just sending it to folks, and they will need to then buy expensive eth to spend it. Makes no sense.
- glocoin 5y ago
  > Sats are the easiest, cheapest thing to send to people globally Global Income Coin is an economic model carrying a monetary policy: the bottom-up distribution of newly created money. The economy currently mostly runs on inflationary currencies. This means a massive amount of new money is created each year. Taking that as a fact, we propose to distribute this directly and more fairly; Global Income Coin is the implementation of that idea. Sats can't carry that monetary policy since they're non-inflationary by design. So we can't use sats. > Lightning network is the only cryptocurrency construction that would permit such global payments We _could_ use Lightning, and we might indeed in the future if that's the tried and tested best solution. We're not married to any particular platform. We don't need global scale on day one. We're starting on Polygon (so transaction costs won't destroy all of the value)
glocoin 5y ago
That would be direct cash transfers funded by charitable donations, which we think is another great way to alleviate poverty. (If Global Income Coin succeeds it could be the network to carry these transfers.) What we're aiming to unlock is a donation-independent component in addition to that.