August 18, 2019, 07:41:11 pm

Author Topic: WorldCoin allowing direct purchases?  (Read 2325 times)

0 Members and 1 Guest are viewing this topic.


Offline Stouse49

  • Gold Engineer
  • DevTeam
  • *****
  • Posts: 711
  • Karma: +66/-0
    • View Profile
Re: WorldCoin allowing direct purchases?
« Reply #1 on: December 20, 2013, 09:06:09 pm »
Scharmbeck Worldcoin Financial Services will be a "CoinBase" for WorldCoin.
GLD: E1A6WogjpqU3KjjoRUD63f7kofrFozmyfg

Offline Armis

  • Prospector
  • ***
  • Posts: 82
  • Karma: +6/-0
    • View Profile
    • Armis
Re: WorldCoin allowing direct purchases?
« Reply #2 on: January 23, 2014, 12:59:02 pm »
This is great news, however having just read a forum post at Cryptsy about a host of member clients reporting their 'negative balances', most getting corrected, but some not, it tempers my enthusiasm.

The fact of the matter is these guys are not banks and a single bad employee could really crush an individual company and even hurt the industry 

www.ArmisGame.com
Where Wisdom Always Wins

Offline Hillbilly

  • Newbie
  • *
  • Posts: 9
  • Karma: +1/-0
    • View Profile
Re: WorldCoin allowing direct purchases?
« Reply #3 on: January 23, 2014, 07:03:08 pm »
The fact of the matter is these guys are not banks and a single bad employee could really crush an individual company and even hurt the industry

This.  That holds true of any fiduciary business with cryptocurrenncy. As cryptos become more mainstream the tendency will be for more and more regulation and centralization. Look at the problems with Mt Gox (aside from the Magic the Gathering trading design), UNOCS, and now with Sharmbeck (albeit in its infancy).  I am not sure that this is avoidable.  I have argued from the beginning that cryptocurrency should be treated as a tradeable commodity currency rather than a strict currency.  I am of the opinion that a currency needs to be backed by value and I feel this is proven by the failure of every fiat. So, for cryptocurrencies to succeed the need to have intrinsic value like precious metals.  The beauty of cryptos is that you don't need to worry about purity or weight the block chain does that for you.  One of the reasons I think GLD has a future is that as more less tech savvy people become involved they will identify with the idea of GOLD.  We need to find ways to link GLD to real value. The idea of exchanges and trusts are strong but they must be secure with out giving up autonomy.  I have been seeing more and more articles about marketing this coin or that proving I my mind that we are dealing with a tangible commodity that is being traded for fiat in most instances, even when it is exchanged for goods most merchants are then converting it to fiat. What we must find is a method of value retention. And no, I don't have any solutions. I entered this game as a trader and speculator and I am now starting to hold GLD and WDC as I think they have the best chance to survive against BTC. 

Sorry for the ramble, just my thoughts.

MODERATOR EDIT:  fix quote tag for better formatting.
« Last Edit: January 25, 2014, 10:08:26 am by Stouse49 »

Offline Armis

  • Prospector
  • ***
  • Posts: 82
  • Karma: +6/-0
    • View Profile
    • Armis
Re: WorldCoin allowing direct purchases?
« Reply #4 on: January 24, 2014, 03:21:34 pm »
The fact of the matter is these guys are not banks and a single bad employee could really crush an individual company and even hurt the industry

This.  That holds true of any fiduciary business with cryptocurrenncy. As cryptos become more mainstream the tendency will be for more and more regulation and centralization. Look at the problems with Mt Gox (aside from the Magic the Gathering trading design), UNOCS, and now with Sharmbeck (albeit in its infancy).  I am not sure that this is avoidable.  I have argued from the beginning that cryptocurrency should be treated as a tradeable commodity currency rather than a strict currency.  I am of the opinion that a currency needs to be backed by value and I feel this is proven by the failure of every fiat. So, for cryptocurrencies to succeed the need to have intrinsic value like precious metals.  The beauty of cryptos is that you don't need to worry about purity or weight the block chain does that for you.  One of the reasons I think GLD has a future is that as more less tech savvy people become involved they will identify with the idea of GOLD.  We need to find ways to link GLD to real value. The idea of exchanges and trusts are strong but they must be secure with out giving up autonomy.  I have been seeing more and more articles about marketing this coin or that proving I my mind that we are dealing with a tangible commodity that is being traded for fiat in most instances, even when it is exchanged for goods most merchants are then converting it to fiat. What we must find is a method of value retention. And no, I don't have any solutions. I entered this game as a trader and speculator and I am now starting to hold GLD and WDC as I think they have the best chance to survive against BTC. 

Sorry for the ramble, just my thoughts.


I applaud the statement.   

The great way to securely move any currency along is to support it in a real and common way, it should be fundamental grounded within a stable and reliable system.    I believe the currency needs to have a genuine purpose, more specifically that that purpose be simple, common, and everyday.  Speculation is cool, but should be seen as the cherry not the ice cream or the banana; the turbo not the drive train.

My intro to coin in general was to reduce the enormous fees that I currently pay to paypal and other processors, that's real, common, and everyday -- I will save money each time a customer pays with coin. 

For any of the 'altcoins' to break out they could take the traditional 'I'm bigger, stronger, faster, and/or better' approach, or carve out their own niche. 

I think a good target would be those businesses who have a loyal (stable and reliable) client base where the trust factor is secure, in this way they could see how to reduce costs and make everyday life easier. 

MODERATOR EDIT:  fix quote tag for better formatting.
« Last Edit: January 25, 2014, 10:09:24 am by Stouse49 »
www.ArmisGame.com
Where Wisdom Always Wins