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> Actual uses that are not gambling, speculation on crypto itself, or scams. Flatcoins seem interesting to me. A stablecoin that moves in line with inflation.

> Actual uses that are not gambling, speculation on crypto itself, or scams. Flatcoins seem interesting to me. A stablecoin that moves in line with inflation. https://decrypt.co/155775/flatcoins-new-thing-on-the-horizon-coinbase-ceo-brian-armstrong https://decrypt.co/155775/flatcoins-new-thing-on-the-horizon... IMO we need financial alternatives. If you see what happened in Argentina, Turkey, Lebanon...people's life savings being stolen overnight. There is a problem that needs solving. Whether thats a problem that can be solved with technology or not, IDK. I doubt it.

toomuchtodo 3y ago
Issue them digital wallets to enable holding global reserve currencies. It is an AML/KYC problem. Imagine if, just for the sake of argument, any of these unbanked folks in countries you mentioned could install something like TransferWise (which app doesn’t matter, but the ability to tie your identity to your account holding various value stores) and hold whichever currency they wanted digitally. No stablecoin, CBDC, or blockchain required.
- hanniabu 3y ago
  Maybe they'd rather have censorship resistant funds, rather than a wallet that a government can freeze at any time.
  - toomuchtodo 3y ago
    Good point, crypto never gets stolen or lost, very secure. https://web3isgoinggreat.com/charts/top https://web3isgoinggreat.com/charts/top (“$68,004,906,103 has been lost to hacks, scams, fraud, and other disasters since January 1, 2021.”)
    - LeeroyWasHere 3y ago
      We only know this because we can track it. Would love to see how much money PayPal and stripe freeze on a yearly basis.
      - toomuchtodo 3y ago
        Somehow I doubt it’s ~$20B/year, which would put it at parity with crypto losses.
        kikimora 3y ago
        One country recently seized 300B of funds of another country. Not necessarily a bad thing but still…
      - dale_glass 3y ago
        By the same token, exchanges will also freeze funds. If you want to avoid that you have to follow the original Bitcoin vision where everyone had their own node, but I don't think anybody actually works like that these days, to a very small rounding error. Everything interacts with some sort of very centralized service that can screw you over.
        everfree 3y ago
        Centralized node services cannot screw you over other than refusing to provide service. Even when using a centralized node, your wallet still manages its own keys.
        dale_glass 3y ago
        Exchanges can keep your money. NFT marketplaces like Opensea can refuse to sell your stuff or refuse to give the author royalties. Yeah, you can theoretically operate without any of that. Just pretty much nobody does.
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yyyk 3y ago
>A stablecoin that moves in line with inflation. Who measures inflation? Why, the same central bankers crypto people inveigh against. This coin will give them a lovely arbitrage opportunity against all the holders.
stouset 3y ago
> IMO we need financial alternatives. If you see what happened in Argentina, Turkey, Lebanon...people's life savings being stolen overnight. And we see the same happen with cryptocurrencies with astonishing regularity.
throwaway02y 3y ago
> life savings being stolen overnight. Sounds like crypto to me.

toomuchtodo 3y ago

Issue them digital wallets to enable holding global reserve currencies. It is an AML/KYC problem. Imagine if, just for the sake of argument, any of these unbanked folks in countries you mentioned could install something like TransferWise (which app doesn’t matter, but the ability to tie your identity to your account holding various value stores) and hold whichever currency they wanted digitally. No stablecoin, CBDC, or blockchain required.

hanniabu 3y ago
Maybe they'd rather have censorship resistant funds, rather than a wallet that a government can freeze at any time.
- toomuchtodo 3y ago
  Good point, crypto never gets stolen or lost, very secure. https://web3isgoinggreat.com/charts/top https://web3isgoinggreat.com/charts/top (“$68,004,906,103 has been lost to hacks, scams, fraud, and other disasters since January 1, 2021.”)
  - LeeroyWasHere 3y ago
    We only know this because we can track it. Would love to see how much money PayPal and stripe freeze on a yearly basis.
    - toomuchtodo 3y ago
      Somehow I doubt it’s ~$20B/year, which would put it at parity with crypto losses.
      - kikimora 3y ago
        One country recently seized 300B of funds of another country. Not necessarily a bad thing but still…
    - dale_glass 3y ago
      By the same token, exchanges will also freeze funds. If you want to avoid that you have to follow the original Bitcoin vision where everyone had their own node, but I don't think anybody actually works like that these days, to a very small rounding error. Everything interacts with some sort of very centralized service that can screw you over.
      - everfree 3y ago
        Centralized node services cannot screw you over other than refusing to provide service. Even when using a centralized node, your wallet still manages its own keys.
        dale_glass 3y ago
        Exchanges can keep your money. NFT marketplaces like Opensea can refuse to sell your stuff or refuse to give the author royalties. Yeah, you can theoretically operate without any of that. Just pretty much nobody does.
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yyyk 3y ago

>A stablecoin that moves in line with inflation. Who measures inflation? Why, the same central bankers crypto people inveigh against. This coin will give them a lovely arbitrage opportunity against all the holders.

stouset 3y ago

> IMO we need financial alternatives. If you see what happened in Argentina, Turkey, Lebanon...people's life savings being stolen overnight. And we see the same happen with cryptocurrencies with astonishing regularity.

throwaway02y 3y ago

> life savings being stolen overnight. Sounds like crypto to me.