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Author Topic: Making local community currencies liquid and bringing them on-chain  (Read 48 times)
Richurd
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June 25, 2018, 03:40:00 PM
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Bancor recently launched their initiative to alleviate poverty through blockchain. What are your thoughts on this?

https://venturebeat.com/2018/06/18/bancor-launches-blockchain-platform-in-kenya-to-enable-community-currencies/
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June 25, 2018, 05:52:13 PM
 #2

Bancor recently launched their initiative to alleviate poverty through blockchain. What are your thoughts on this?

https://venturebeat.com/2018/06/18/bancor-launches-blockchain-platform-in-kenya-to-enable-community-currencies/

I wish we could see africa rising and evolving out of what is certainly a shithole currently, specially in places like Ghana. A global currency would bring them into the global economy, but it must be affordable for them to use it. On-chain transactions in Bitcoin are too expensive for poor people, but thanks to Lightning Network, they will be able to participate.

I think we don't need further blockchains or tokens, just BTC with LN will be able to make BTC usable for poor people too. They will be able to sell their scrapyard resources all over the world for better deals, they just need someone smart to set it up in there for them and there is always someone smart that will find about it, even if living in a hellhole like Ghana (go watch Ghana scrapyard documentaries in Youtube).
etron
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June 25, 2018, 06:15:09 PM
 #3

Bancor recently launched their initiative to alleviate poverty through blockchain. What are your thoughts on this?

https://venturebeat.com/2018/06/18/bancor-launches-blockchain-platform-in-kenya-to-enable-community-currencies/
it's very good that kenya country wants its people to rise from its downturn, I strongly support the program because this will strengthen bitcoin price.
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June 26, 2018, 09:00:21 AM
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Wait what? Kenyan communities can create their own money? And that's legal? Lol. If this is true, then it's probably a good idea, considering the success of this service:

https://www.cnbc.com/2013/11/11/cashless-africa-kenyas-smash-success-with-mobile-money.html

I'm still quite surprised that their government is on board with this though. They probably have a large degree of control over the blockchain itself. It'll also be the first instance of legal tender being tokenized (I could be wrong though), so it'll serve as a nice proof of concept.

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June 26, 2018, 01:56:50 PM
 #5

Anyway speaking of bancor, is that thing even viable? the price has been tanking since day 1. It's been one of the worst performing ICO's of all time. It seriously looks bad, look at the all time chart:

https://coinmarketcap.com/currencies/bancor/

It was basically crashing ever since it launched in june 22 2017 to december 09 2017... that was a hell of a bear market to start the project. Let's see if they can ever reach ATH.
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June 26, 2018, 02:11:09 PM
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Anyway speaking of bancor, is that thing even viable? the price has been tanking since day 1. It's been one of the worst performing ICO's of all time. It seriously looks bad, look at the all time chart:

https://coinmarketcap.com/currencies/bancor/

It was basically crashing ever since it launched in june 22 2017 to december 09 2017... that was a hell of a bear market to start the project. Let's see if they can ever reach ATH.
I dont know that much about Bcancor, but according to my technical analysis, its not on bear / bull market. It's stabil, but have potential to going entering bull market soon or later.

Because it seems already hit the buttom.
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June 26, 2018, 02:46:57 PM
 #7

Anyway speaking of bancor, is that thing even viable? the price has been tanking since day 1. It's been one of the worst performing ICO's of all time. It seriously looks bad, look at the all time chart:

https://coinmarketcap.com/currencies/bancor/

It was basically crashing ever since it launched in june 22 2017 to december 09 2017... that was a hell of a bear market to start the project. Let's see if they can ever reach ATH.
I dont know that much about Bcancor, but according to my technical analysis, its not on bear / bull market. It's stabil, but have potential to going entering bull market soon or later.

Because it seems already hit the buttom.

With crypto you never know. It may seem like a steal, a perfect entry point, and it may end up being another trap into continued stagnation. I honestly do not understand Bancor. As far as I can tell, this is a project that aims to inject liquidity into all the tokens or create new ones with instant liquidity. I do not understand how they can do that in a decentralized, secure way safe from attacks that will plummet the thing to 0.
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June 26, 2018, 02:58:17 PM
 #8

Anyway speaking of bancor, is that thing even viable? the price has been tanking since day 1. It's been one of the worst performing ICO's of all time. It seriously looks bad, look at the all time chart:

https://coinmarketcap.com/currencies/bancor/

It was basically crashing ever since it launched in june 22 2017 to december 09 2017... that was a hell of a bear market to start the project. Let's see if they can ever reach ATH.
I dont know that much about Bcancor, but according to my technical analysis, its not on bear / bull market. It's stabil, but have potential to going entering bull market soon or later.

Because it seems already hit the buttom.
You cant say that it do already hit the bottom. Price stability or on accumulation or sideways movement wont really able for you to find out or able to identify about resistance and its support. Ive seen bancor back in previous years when it comes to its price it do really still tanking as of even on todays. Ive known their projected plans but it wont really be that easy.


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jseverson
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June 27, 2018, 06:50:09 AM
 #9

Anyway speaking of bancor, is that thing even viable? the price has been tanking since day 1. It's been one of the worst performing ICO's of all time. It seriously looks bad, look at the all time chart:

https://coinmarketcap.com/currencies/bancor/

It was basically crashing ever since it launched in june 22 2017 to december 09 2017... that was a hell of a bear market to start the project. Let's see if they can ever reach ATH.

A project like this may just be what they need. I'll certainly have a much higher opinion of them if they make this work. If nothing else, it'll be far better than most coins in terms of utility, because it will actually have real world usage. Prices should be based on utility rather than hype in my opinion.

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