Stripe launches into the crypto-currency game with launch of Stellar.
- Thread starter Kiopa_Matt
- Start date
D'oh! The oldest altcoin salespitch I know.
PoW will always be the best model because it's the most secure. When moving all the world's wealth onto one system, you kinda need to care about security.
Altcoins may stick around as curiosities, school fundraising coins, and testing platforms, but they will never be money again. Only bitcoin will be money.
Even this guy who often writes positively about altcoins on Coindesk understands this:
Why We Need All The Altcoins We Can Get
Here's the reason why:
The Coming Demise of the Altcoins (And What You Can Do to Hasten It) | Satoshi Nakamoto Institute
New bitcoins are being mined until the year 2140, and if you understand what scarcity over time means to the price of bitcoin, you will see that Satoshi was a genius who made a system that can't fail. (And that you'd be a fool not to hold units in.)
I'm saying Steller is superfluous. It offers nothing that Ripple doesnt' already do better, minus that PoS integration.
I admit the PoS device is a welcome advancement, but it doesn't overtake Ripples' thousands of established gateways, which are all afraid to sell you any bit-dollars to trade with because the real problem here is still uncle sam.
Stellar doesn't evade this problem any more than ripple did, so I honestly don't see what they bring to the table.
Meanwhile, their unit of account can never be money, because bitcoin.
Great devs are often sidelined by poor understanding in economics. These days more than ever.
At this point I'd better stop saying yay or nay to rumors because there are more of you who can guess than there are Caribbean countries.
It is not Panama, it is an island. <---Very last clue.
Who are you in contact with at Coinapult?
Ok, is it a poorer nation? I'm assuming so, since you praised it for having 3G.
Assuming it is, do they have any idea what type of demographic they're distributing all this bitcoin to? Have the organizers ever wandered around the small towns / villages, sat around and had dinner, drank some beer, maybe smoked a joint with the locals, and got to know them, etc.?
More than likely, many of these people's largest investment is a goat, or maybe a cow if they're lucky. They view bottle collecting as a viable source of extra income, and goat shit as a valuable resource to create fertilizer so they can grow their crops to feed their family. Many are struck out on fishing boats 12 - 16 hours a day to make almost nothing.
And you expect them to give a shit about bitcoin? Obviously, because you guys are about to spam the entire island with SMS messages, letting everyone know they have $5 in BTC waiting for them, or whatever piddly amount will get handed out to each person.
Actually, the more I think about this, the more it pisses me off. So I'll just stop typing, before I end up on a tirade.