Cryptocurrencies

[rayray]

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/guide...hange.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

[Roadmap2Retire]

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.

[Roadmap2Retire]

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.