+- Dividend Growth Forum (http://DividendGrowthForum.com)
+-- Forum: Other Dividend Growth Forum Stuff (http://DividendGrowthForum.com/forumdisplay.php?fid=18)
+--- Forum: Off Topic (http://DividendGrowthForum.com/forumdisplay.php?fid=24)
+--- Thread: Cryptocurrencies (/showthread.php?tid=1735)
RE: Cryptocurrencies - rayray - 01-16-2018
Preferred currency
Because cross-asset payments are so simple with Stellar, users can keep their money in whatever asset they prefer to hold. Preferred currency creates a very flexible, open system.
Imagine a world where, anytime you travel, you never have to exchange currency except at the point of sale. A world where you can choose to keep all your assets in, for example, Google stock, cashing out small amounts as you need to pay for things. Cross-asset payments make this world possible.
https://www.stellar.org/developers/guides/concepts/exchange.html
I found this interesting, it's from the above link. I wonder, if some day possible how would this would affect your taxes? Because, obviously if you used, for example, Google, Amazon, Markel or any other stock as a value of payment you'd be triggering a taxable event. Using the Stellar Network, you can use anything of value, because, it doesn't care what that value is, it can be fiat, stock, a crypto, whatever because the system doesn't care. Now, if the end recipient cares and will only accept their own currency that's when Lumens (Stellar cryptocurrency) acts as a bridge before those "Google Shares" are exchanged for "Euros" The sender sends "GOOGL"-----"Lumens"-----"Euros" received
There's a lot to this....gives me a headache
RE: Cryptocurrencies - Roadmap2Retire - 01-18-2018
Thats a really cool application. I have read some similar concepts being tried out by other groups too -- which want a common platform where you can exchange any asset.
Btw rayray, most of the community works on the open-source non-profit model and isnt unique to Stellar. Still...I like the cross-asset exchange.
RE: Cryptocurrencies - Roadmap2Retire - 01-18-2018
kinda along the same lines....GoldMoney (previously BitGold) has a Mastercard that ties everything to the price of gold. Its a great way to hedge against currency conversion issues, esp if you are traveling. All transactions get converted to the equivalent of gold price used as a reference point, whether you are in shopping in US, Euro or any other currency worldwide. Pretty neat idea.
I dont have the Mastercard with them, but hold some bullion through them.