> 3) Make the coin usable for local advertising or by local vendors. This is the WORK the community has to do (not us) same as VISA and Mastercard network had to do!!
Is anyone doing that? How far along are they, compared to VISA and Mastercard (or even just other crypto)?
If sufficiently large communities released their own coins, if enough people in each community decided to engage with it - and you know that crypto reputation is not the best - and they decided to put enough work into making it usable locally, if there was a large enough market... GP could use it to pay for their bills.
As it stands, though, this just reads like "draw the rest of the owl".
Are you proud that Big Tech and Big Banks were the only ones able to build the infrastructure and get a large network effect? You like monopolies and cartels?
VISA was simply a project of Bank of America. They did the work. They got the merchants to accept it.
The CCP helped WeChat get all merchants to accept payments with WeChat. Maybe you like all your monetary policy being centrally controlled, by the Fed? Perhaps you’ll be welcome the new CBDC and National ID, that’s coming, knowing that the central planners have your best interests in mind…
HN is irrationally against Web3, thus many knee-jerk hate on decentralized networks. And they have never heard of communities having their own currency and being able to run their own monetary policy.
If our government had the guts to institute Pigovian taxes, then the Fed wouldn’t have to step in and use the only lever they have — interest rates - to squadh inflation. And all these banks wouldn’t be going belly up. This is just one example.
Personally, I see that the world isn’t HN. And with all these banks going belly up, they’ll gladly latch onto something else. Now if we don’t do anything, it’ll be CBDCs and National IDs.
We are at least trying to build a viable alternative that’s by the people. Historically Hackers were anti-establishment and against bootlickers. They very much support cypherpunks like Phil Zimmerman and other “crypto bros” as you call them. Maybe the “Hacker” ethos in Hacker News will shine through in the future, and you’ll realize that squashing self-sovereignty and welcoming more consolidation and centralization is not the way. Stop trying to ride the “cool” bandwagon of VCs that give you money to build a monopoly, and embrace the real hacker ethos of open source alternatives that are BY the people, not just FOR the people by the elites.
Touché. Although, to be a bit pedantic — downvotes don’t actually give currency to the downvoter any more than you can simply slice off a few ether from another account balance
Is anyone doing that? How far along are they, compared to VISA and Mastercard (or even just other crypto)?
If sufficiently large communities released their own coins, if enough people in each community decided to engage with it - and you know that crypto reputation is not the best - and they decided to put enough work into making it usable locally, if there was a large enough market... GP could use it to pay for their bills.
As it stands, though, this just reads like "draw the rest of the owl".