So, if i was a kid and you had to explain intercoin to me and how it is different from the other cryptos that are already publicly trading, what would you say?!
How would i explain what specifically intercoin does that other coins can not do?
How soon can it go public?!
A kid would not understand what going public means!
If you’re talking about the interoperability interchangeably exchangeability of more than 10,000 different crypto currencies and assets no child would understand it.
But if you gave the child ThoughtWare which could instantly transfer the ability to process big data at a rate of a quadrillion bits per second to each child, perhaps InterCoin would become a viable public offering!
Is it listed on CoinBase?
You can say intercoin is made for people to buy and sell things with while most other crypto is made to only go up in price.
Not listed on coinbase yet but we are planning some smaller exchanges by end of month
To a kid that doesn’t understand as much technology or even crypto I would explain it in this way.
Your mom is giving you $$ to pay for your lunch and get a drink at your school cafeteria. But you can end up buying bad food or chocolate instead.
Chocolate is not good food for you and your stomach would hurt so in order to protect you, your mommy sets some rules and says: “Instead of $20, I will give you 20 ITR in your phone app, and you can buy anything in the cafeteria that I have put as allowance, you just show them the code to scan in your phone”
This way you can buy food, water, but if you tried to purchase chocolate, you would not be able to buy that with ITRs. Mommy loves you and I want you to eat healthy food and not have cavities in your teeth from eating chocolate.
Is is too obvious I am a mom??? HAhaha…
But bottom line, you can’t buy food right now with Bitcoin or other cryptos as the fees are to expensive an you would wait so long to get it approved because of how big the communities are. With Intercoin, any community if it is a city, a school/university, a company, non profit, can issue their own currency and set rules on what people can and can’t do with it, so money circulates within that community to boost the economy. If you earned money in NY, but than you end up spending all your money in Florida, you are not helping boost NY’s economy. But if you had vendors and rewards to purchase local, everyone wins.
Hope this was helpful?
To answer better your question in details, this video can help as well.
Also this is an animation explanatory video about Intercoin, what is all about and what is trying to solve that some of the big cryptos out there lack.
Absolutely love your explanation @Marsi.
And hopefully that will eliminate some useless questions from people who like to pretend that they would help the Intercoin project to solve financial hardships in the post-covid world.
Intercoin hype video is out guys
Is it correct to say that most crypto is made to only go up in price? If that is what it truly did, it would likely be stable in some way for payments between buyers and sellers. crypto’s volatility is what is preventing it from becoming a reliable transactional instrument, perhaps that is what you mean.
Under certain conditions, it is possible to have a digital currency that is both stable for buy and sell transactions (if you buy $20 in the asset, it is always worth $20 in the asset), has a secondary marketplace where agents could “win all or lose some, but not lose all” by selling the assets plus or minus a premium, and another marketplace where the asset can only go up over time.
Interesting comment @Rome as for me it’s sounds like a description of the ITR token idea but only with different words.
I’m not sure if you have seen already an overview presentation of Intercoin that is here
I know I am really interested in comparing notes! From what little I know about the ITR coin, it appears that it is a whole system coin, where the community pays back into the coin, giving it continual replenishing resource, which is what our digital asset does as well. Like ITR, our asset can also interact with any other type of currency or any asset period. In someways, it also can act like a bank account in a limited way, immediately can be cashed out, and because there is no blockchain, no fees, no delays and very energy efficient, no more energy than sending the equivalent of a text message. Our asset is national/global. Would not work in a local community setting, which is what it appears ITR is designed for.
In some parts you are correct but not all of it.
Please use this link to explore some of our documents before our meeting tomorrow and we with @Greg would be happy to answer any of your questions.
Hi elena thank you for your facilitation, I’ve set a meeting for tmrw and will review this am. Cheers
It is writ large correct minus stablecoins and yes the volatility makes it a suboptimal form of money