re: Official CryptoTalk Thread

I think use and functionality will determine a lot going forward. Staking mechanisms produce solid returns with very little effort, and would be another area institutional investors could eventually look once you can develop insurance models to deal with certain DeFi features. It's clear that a scarcity model token doesn't work when you need that token to be used. Going forward, I think it will become clear that a coin cannot function as both a security and as a currency, which is also a major regulator issue at hand.

But DeFi is already a multi-trillion dollar market where PoW tokens aren't really used unless they are wrapped, which isn't insurmountable, but is also both annoying and a hindrance to their use in that area.

I've given synopses of what it is at a high level. Their primary goal that started it: remittances. User A can send FIAT to their Telcoin wallet and send money to anyone in the world in their local currency, and User B can receive the money in their local currency, and for MUCH cheaper than current remittance systems (current systems run ~7%, Telcoins goal is 2.5%).. This applies for commerce as well.


They are partnering with cellular providers across the world, allowing the users to be able to send money by SMS and tying their wallets to their cell phones so you don't have to know everyone's wallet address.

Only these mobility telecoms can run nodes and stake TEL to incentivize them to adopt. In addition, half of all Telcoin supply will be set aside for mobile network issuance at a linear rate of five percent annually.


As for the bull case, I think This Medium article lays it out pretty well.

Essentially, they're going to be disrupting that industry across the globe, and there's lots of money on the table. Currently, remittance is very expensive, slow, cumbersome. Think money wiring. Massive pain in the arse.

In the long term they also want to become yet another exchange and get into the defi space. Once the exchange is live, users will also be able to stake TEL.



ETA


They only have one channel set up now, from Canada to Philippines, but are trying to rapidly expand that.

They also helped pass a new law in Nebraska that will allow them to set themselves up as an actual digital bank in that state.


I'm not into telling people what they should do with their money, but I think it's still a slam dunk hold despite my not liking how centralized it will be. It could see $1 one day.

As a small followup to that post, one very bearish things about Telcoin:


Ethereum gas fees. As it currently stands, sending money is gonna be expensive as hell. So part of being bullish on TEL involves being bullish on ETH and its long term outlook on gas.

Thoughts on biden's comments on crypto last night?

How badly will this effect the market?

ah 10-4. Yeah I heard the administration saying something about that not long ago.

frick em

quote:

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man this market is being sus as hell

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I've lost like 100 today in cardano and polygon.

I think i'm cursed. Much better luck with actual stocks

feel like we just have to weather a storm right now

smells like whalish games

more china FUD - how much longer is crap like this going to be effective?

so many bitches in cyrpto and the fact that i know that makes me a bitch too i guess because im not going to hodl while everyone else is selling with every random China or energy or elon fud

silver lining is that we have another 4 years to stack i guess?

That one share of Coinbase stock I bought the day it started trading has taken a beating.