The first site like @blurt or hive, steemit or any other.
To have integrated payment systems, will bring down the monetary system of corruption via government.
It will require taking ownership of payments, in and out, and not taking any notice of the almost dead governments.
Yes the old system is collapsing, the first site that makes a payment in and out, without large fees like digifinex take, not only them, coinbase do the same, Bittrex, in fact they all do, the first site that takes self ownership of money in, money out will be the ultimate winner.
There is not one single site you can buy into on the site, and cash out on on the same site, you have to jump through multiple leach hoops, be it iononomy, be it Bittrex, Digifinex, coinbase the lot, they are all blood sucking drains.
Will @blurt lead the way, be brave, be a first?
I will offer up 100 blurt for any comments with regards to this idea, to 10 people, the best 10 ideas get 10 blurt, at my discretion.
Anyone willing to make such a site, crypto based, I will put 50k in GBP into it, if you make it.
What says you?
Have a superb evening or day, I will throw in a few motorbikes too, if you make it happen.
When the IMF and World bank are worried about crypto, like they are, I want to double down!
https://www.cnbc.com/2021/12/24/cryptocurrencies-why-the-imf-is-concerned.html
https://businesshala.com/three-reasons-the-imf-is-worried-about-cryptocurrencies/
Come on people, we can do this, beat them at their own game, make a card payment system too, like wirex. All in one solution, you getting it yet?
BLURT can be transferred between users. What you mean is owning the exchange rate. That's what Hive-Engine does. Even if there was a Blurt-Engine, it would work in a similar way. Somebody has to take the risk of the trades and somebody has to fund the existence and security of the platform.
Having some official exchange bureau means the economy takes the economic hit - rather like closed commie countries having fixed exchange rates. It can be done, but that would also means no external markets, coz once you open a market then those prices may deviate from your fixed exchange. Again, that may not matter - we have experience of this in some Hive-Engine tokens that have a fixed rate and then also a market rate.
Lots of issues around losing a ton of money :-)
I don't believe Hive Engine is what is meant here. To my knowledge unless something changed one can't enter and exit Hive Engine with currency.
My understanding of this post is something I've been calling for since Steemit.
A direct buy in and buy out with currency into and out of the project.
Design the solution - then you'll see why nobody does it ;-)
The whole process, not just the idea.
Ringfenced "freedom".
Yes, as one who has seen most exchanges ban my presence I get that. But seems like there could be a workaround. A market something like localbitcoins only Blurt centered, where users sell it amongst ourselves.
Or perhaps a partnership with an existing model that allows for fiat to crypto via debits and such.
The point that was made is valid, the first chain to brave that frontier will see an astronomical growth if it becomes as easy to buy the token as say buying worthless Fakebook game tokens or Reddit gold packages etc.
I have no doubt if this had ever been implemented there would have been many times over the years I would have bought 10.00 here and 20.00 there, which adds up over time.
Right, I was gonna say that that is far more likely done by an exchange that issues a coin rather than by a coin that constructs an exchange... and, we already have one = Binance BNB!!
The point I was making is that somewhere along the chain one either needs a licence or contract with a bank or, as u said P2P, which requires huge trust. or much better live escrow systems, similar to bridges.
Binance BNB is no different, as it offers no fiat buying which is the heart of this topic.
Binance accepts credit cards for crypto purchases.
I'm dead to Binance, they are dead to me.
The real Binance cut me off quite some time ago because I'm in the U.S., and their fake U.S. company quickly gained a reputation for theft that it took Coinbase some time to build.
Like Coinbase, they are getting Trustpilot to delete a huge amount of bad reviews and they still have a horrible rating of 1.2 out of 5.
https://www.trustpilot.com/review/binance.us
As much as the regulators here in the U.S. keep claiming to regulate for the safety of us citizens, they have turned a blind eye for years on these exchanges simply keeping your money and with their silence sending a clear message to fuck off, they aren't giving you the money back.
There are backdoor ways of doing it, like hive do via steemmonsters, you can buy tokens via there then exchange them for hive on h-v. (paypal)
Right, but can you in the end come back to fiat?
I don't like paypal much and they also seem to have ringfenced their crypto wallet. having said that, I havent tried to use it as I'm not sure how long my account will last (usual expat issues).
"Right, but can you in the end come back to fiat?" That would have to be done via exchanges or an inbuilt on site mechanism.
When I lived in Pattaya I was selling all the gear around Pattaya, paintings, clothes, hi-fi and so on, when I first arrived I had paypal problems, emailed them some documents, never had a problem with them again.
Other people left when paypal locked their accounts, all they had to do was talk to them.
I just seen that Serey.io does half the market - it will direct sell their coins for crypto (BCH in their case), but note they will not buyback their own coins!! That's what I was saying, that turning into a market is a huge risk for such a site - they could easily run out of BCH to buy those coins back.
However, it does remain useful to quickly buy in and join, instead of the contortions of joining Blurt - this is a proof of STAKE, not proof of begging, as many newbs seem to think.
None of which once again touches the topic of fiat buy in.
This part really confused me. I would never equate one desiring to buy in using cash they earned elsewhere as one begging, not sure of the logic one would use to arrive at that conclusion.
It is what it is. I've begged no one for anything here, simply acknowledged what is indeed a truth, and offer myself as an example to support the truth posited here. I definitely would have invested more than I have if it were easier to do so. No begging, just fact.
The ref was the current really awkward way to join Blurt - that difficulty has led to IMO far too many free accounts, many of which are skammers, rather than users having at least a minimal stake in the game. hence the method seems to encourage the beggars. That's all. I'm fine with people bringing in friends, but that is only a small part of the onboarding.
Maybe should look at how splinterlands accepts credit/debit cards. That's the only way but that still wouldn't go in the other direction, for all the same reasons of risk of losses.
Yes, I debated (with myself) the Splinterlands idea before I left Hive. But I'm not a gamer type person and coupled with the losses that must occur that way sometimes I opted not to.
I often wondered if instead of selling Blurt, if a different product was offered that was less regulated and "free" Blurt was given along with the item would be feasible. Perhaps a special membership for something.
Indeed, you get my point 100%, it is a logical solution to jumping through multiple hoops via various exchanges.
Take hive as a for instance, to cash hive I have to send it to bittrex as coinbase does not accept hive, I have to change it for BTC, bittrex take a cut, then I have to send btc to coinbase, both take a cut, then change it for euro and again lose a cut, then send it to my bank and again get charged by coinbase and my bank, if it is/was only $50 I end up with $14 after all of that. A buy in direct from Fiat, a cash out even via a card like wirex, a solution.
I would be buying every day on here if I could cut out all the middlemen/exchanges.
Why are you using such an expensive coin such as BTC for the trade? ETH is even worse.
Or find a better fiat/crypto exchanger.
You're gonna hate this - you will - I pay under $1 for a transfer to fiat - but is a local national exchange - there must be some in Europe!
The funny part is I can go to Warsaw, Krakow etc and buy crypto from ATM's explicitly for crytpo purchases, but can not find one Polish exchange online.
$1 grrrr, yes, that does make my blood boil, we get crippled here with charges, but other people in other countries have to pay massive tax on crypto. A good read here if you have time one day https://www.scribd.com/document/514231949/Baron-David-Ward-Affidavit-Statement
You may need to investigate your own sneaky way thru the system.
Yeah, seen that before - takes some balls to stand up in a court (assuming you need to be there) and tell the judge, in the politest terms, to fuck off. ;-)
Sadly he is dead now, he went to hospital and like oh so many more he never came back out.
I was watching a convo on facebook with new adopters to crypto talking about trust issues with coinbase, Bittrex etc and charges last night, and it sprang to mind. Unsure about costs etc, but coinbase from experience rinses you from minute 1, they take a cut when you deposit, they take a fee when you exchange, they take another fee when you withdraw.
The Bittrex came up, people find it overly complicated. And you can not withdraw to your bank.
Digifinex has high fees to withdraw, so anything under $500 is not worth taking out. Ionomy I am unsure about, I only use that for buying.
There has to be a better solution than them, has there not?
Just thinking out loud. :-)
I got lucky with Coinbase - they don't give a crap about expats - very naughty taking a cut on deposits! nobody does that!! I mean, you may a fee from where the coins originated.
Or do you mean fiat trades?
erm... nobody can send money to your bank without a contract with the bank and a licence to do so. That's how they cripple crypto - I said so years ago.
I send BTC from Bittrex and they take a cut, when it lands in coinbase they take a bit as the amounts never match in monetary value, then changing it to Euro costs, the sending the Euro to the bank costs, then the bank charges as it is in euro not GBP, you can start off with $200 in BTC and end up with $120, everyone taking a cut all the way to the bank.
The $30 to withdraw on digifinex is also a nice money spinner, for someone, not me.
10 blurt sent.