Bitcoin Forum
December 05, 2016, 02:41:32 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: new!? digital currency pegged to USD, called Kurrenci  (Read 4010 times)
wrend
Member
**
Offline Offline

Activity: 76


View Profile
June 24, 2012, 06:37:11 AM
 #1

Kurrenci

http://www.makeuseof.com/tag/money-digital-age-called-kurrenci-updates/

I do not have any detailed understanding of Kurrenci.

The reason I'm posting this here is that some forum visitors might find it relevant and would be interested in reading comments from bitcoin community about Kurrenci.
1480905692
Hero Member
*
Offline Offline

Posts: 1480905692

View Profile Personal Message (Offline)

Ignore
1480905692
Reply with quote  #2

1480905692
Report to moderator
1480905692
Hero Member
*
Offline Offline

Posts: 1480905692

View Profile Personal Message (Offline)

Ignore
1480905692
Reply with quote  #2

1480905692
Report to moderator
1480905692
Hero Member
*
Offline Offline

Posts: 1480905692

View Profile Personal Message (Offline)

Ignore
1480905692
Reply with quote  #2

1480905692
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480905692
Hero Member
*
Offline Offline

Posts: 1480905692

View Profile Personal Message (Offline)

Ignore
1480905692
Reply with quote  #2

1480905692
Report to moderator
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 700


Wat


View Profile WWW
June 24, 2012, 06:44:18 AM
 #2

I contacted them on twitter about bitcoin last week and I am hopeful they will accept btc for it in future.

Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 24, 2012, 06:47:40 AM
 #3

I asked some questions in their chat box, but nobody's gotten back to me yet.

The "Earn" section makes me think it is Bitcoin related, although they have nothing there yet.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
MoonShadow
Legendary
*
Offline Offline

Activity: 1666



View Profile
June 24, 2012, 06:48:26 AM
 #4

Paypal competitor fail.

Commenter knowledge fail.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
benjamindees
Legendary
*
Offline Offline

Activity: 1288


View Profile
June 24, 2012, 06:49:13 AM
 #5

Another one of these pops up every year or so -- e-Gold, Liberty Reserve, Dwolla, Pecunix, etc.

None of them ever end up being actual currencies.  Besides, currencies that are pegged to other currencies are not really true currencies either.

Civil Liberty Through Complex Mathematics
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 24, 2012, 06:56:29 AM
 #6

Another one of these pops up every year or so -- e-Gold, Liberty Reserve, Dwolla, Pecunix, etc.

None of them are ever end up being actual currencies.  Besides, currencies that are pegged to other currencies are not really true currencies either.

But if they make transferring currency more efficient, then why not?

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
benjamindees
Legendary
*
Offline Offline

Activity: 1288


View Profile
June 24, 2012, 07:01:49 AM
 #7

But if they make transferring currency more efficient, then why not?

Well, it's fraudulent for one.  Advertising a "currency" and then delivering a "payment processing system" is fraud.  Look at the clusterfuck that Dwolla created, for instance.

Civil Liberty Through Complex Mathematics
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 24, 2012, 07:11:33 AM
 #8

But if they make transferring currency more efficient, then why not?

Well, it's fraudulent for one.  Advertising a "currency" and then delivering a "payment processing system" is fraud.  Look at the clusterfuck that Dwolla created, for instance.

Yeah I have $180 tied up in there...

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
June 24, 2012, 12:12:58 PM
 #9

Apparently they can't even do basic math:

Quote
How does the exchange rate work? Kurrenci says you take the purchase price and divide it by the store’s exchange rate. For example, if a shirt you want costs $50 and the exchange rate is $1.25, then you pay just 40 Kurrenci. You save $10.

 Roll Eyes

EDIT: or I guess it's the author of this article, Bakari Chavanu, that can't do math?

EDIT2: Ah no, it's taken directly from their FAQ https://kurrenci.com/public/FAQ so it's actually them that can't do the math.

Basically they claim the merchant will be able to save on transactions fees which will allow him to offer a lower price which will be the only reason for a positive exchange rate.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
Yankee (BitInstant)
Legendary
*
Offline Offline

Activity: 1078


Charlie 'Van Bitcoin' Shrem


View Profile WWW
June 24, 2012, 12:15:51 PM
 #10

The CEO and founder, Mosheh, is a friend of mine from the early days and we went to college together.

We have spoken many times about Bitcoin and Kurrenci and he plans to integrate with Bitinstant to allow for Bitcoin deposits as well as our other methods.

Will keep everyone updated.

-Charlie

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
Coinabul
Hero Member
*****
Offline Offline

Activity: 588


Coinabul - Gold Unbarred


View Profile WWW
June 24, 2012, 12:18:04 PM
 #11

The CEO and founder, Mosheh, is a friend of mine from the early days and we went to college together.

We have spoken many times about Bitcoin and Kurrenci and he plans to integrate with Bitinstant to allow for Bitcoin deposits as well as our other methods.

Will keep everyone updated.

-Charlie
Have I mentioned that you rock, Charlie!

Sidenote, I talked to these guys on twitter, it seems like they process chargebacks.

Coinabul.com - Gold Unbarred
Website owners, let me put my ads on your site! PM me!
rjk
Sr. Member
****
Offline Offline

Activity: 420


1ngldh


View Profile
June 24, 2012, 12:19:31 PM
 #12

Hey at least they didn't pull a dwolla by saying that they are chargeback-able from the beginning.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
Coinabul
Hero Member
*****
Offline Offline

Activity: 588


Coinabul - Gold Unbarred


View Profile WWW
June 24, 2012, 12:23:50 PM
 #13

Apparently they can't even do basic math:

Quote
How does the exchange rate work? Kurrenci says you take the purchase price and divide it by the store’s exchange rate. For example, if a shirt you want costs $50 and the exchange rate is $1.25, then you pay just 40 Kurrenci. You save $10.

 Roll Eyes

EDIT: or I guess it's the author of this article, Bakari Chavanu, that can't do math?

EDIT2: Ah no, it's taken directly from their FAQ https://kurrenci.com/public/FAQ so it's actually them that can't do the math.

Basically they claim the merchant will be able to save on transactions fees which will allow him to offer a lower price which will be the only reason for a positive exchange rate.

I thought that merchants would be doing a higher exchange rate to lure buyers in. It's a very abstract idea that I seriously doubt will work.

Coinabul.com - Gold Unbarred
Website owners, let me put my ads on your site! PM me!
hazek
Legendary
*
Offline Offline

Activity: 1078


View Profile
June 24, 2012, 12:25:39 PM
 #14

Yeah I'm highly skeptical this will work. I don't see how they're going to save merchants money and make a profit and offer 1:1 exchange rate and make money.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
Gabi
Legendary
*
Offline Offline

Activity: 1050


View Profile
June 24, 2012, 12:30:24 PM
 #15

I've read the FAQ, it's so much fail, so much fail.  Undecided
Spekulatius
Legendary
*
Offline Offline

Activity: 1022



View Profile
June 24, 2012, 12:50:45 PM
 #16

I asked some questions in their chat box, but nobody's gotten back to me yet.

The "Earn" section makes me think it is Bitcoin related, although they have nothing there yet.

Hi Garret! I can seee youuu!

Spekulatius
Legendary
*
Offline Offline

Activity: 1022



View Profile
June 24, 2012, 01:00:29 PM
 #17

Has anyone wathced that "explainatory" video?
http://www.youtube.com/watch?v=8igl34Ip0Gg&feature=player_embedded

I think they estimate their audience being complete infantile retards for making such a dummy cartoon!
Really, it explains nothing and that woman narrator seems like just out of daycare.

Spekulatius
Legendary
*
Offline Offline

Activity: 1022



View Profile
June 24, 2012, 01:02:57 PM
 #18

Another one of these pops up every year or so -- e-Gold, Liberty Reserve, Dwolla, Pecunix, etc.

None of them ever end up being actual currencies.  Besides, currencies that are pegged to other currencies are not really true currencies either.

Hang on, does that mean I cannot speculate on it, except I want to speculate on the Dollar itself!?

Dammed!
Steve
Hero Member
*****
Offline Offline

Activity: 868



View Profile WWW
June 24, 2012, 09:51:26 PM
 #19

Another one of these pops up every year or so -- e-Gold, Liberty Reserve, Dwolla, Pecunix, etc.

None of them ever end up being actual currencies.  Besides, currencies that are pegged to other currencies are not really true currencies either.

Hang on, does that mean I cannot speculate on it, except I want to speculate on the Dollar itself!?

Dammed!
LOL…I think people underestimate how important this will prove to be in Bitcoin's success.  As Bitcoin's price grinds higher, it's going to become very difficult for people to ignore.

(gasteve on IRC) Does your website accept cash? https://bitpay.com
Raoul Duke
aka psy
Legendary
*
Offline Offline

Activity: 1442



View Profile
June 24, 2012, 10:04:36 PM
 #20

OMFG!
http://www.youtube.com/watch?v=F29PYXSZhqc

And they say Bitcoin is too volatile for commerce... Kurrenci is volatocoin in person as you never now how much it's worth. You just know the minimum value of it.
Are these guys for real?

Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!