So i went to mexico recently on vacation. I had to buy pesos (weill i didn’t need to … i barely used them) but it was a perfect example of when crypto currency would have been ideal.
I think for a long time now people have realized that the real problem with crypto currency is its volatile. the price moves too much to hold and expect the “sandwiches worth” of feather coin to be worth a sandwich later. maybe it’ll be worth 2! or maybe a half. but the point is if its worth half. you get upset and if its worth two you kinda dont want to spend it.
So I think the solution might be to approach this like credit cards do. they do the exchange in real time. so basically someone sets up an exchange that will fill orders on an as needed basis. you need 100 pesos it takes your fiat currency buys the feathercoin at market price (100 pesos worth) sends it and you are done. The customer could do the same in reverse if they like to put it in their bank. and unless the market is moving like crazy it should be stable for a transaction. a sandwich’s worth is a sandwhich’s worth and there is no lag or down time.
in order for this to work though I think you would have to use custom wallet/software to make it happen. in short they would payout of a wallet address they own and have authorized a payment amount from to another address. so you would never actually have a wallet just their software which did all the necessary work. their wallet they keep filled so there is very little if no lag time between the exchange. they simply look up what it costs them to fill the order. take that much fiat currency buy it from the market and then send from their real wallet over the amount needed to pay the bill.
it does kinda take the crypto currency out of the transaction as far as the user is concerned… and really the exchange its up working like a prepaid credit card, but it does fix the problem of fluctuating currencies and dealing with international borders… but then so does a credit card.
(i’m just spit balling here)
One of the key features of blockchain technology which truly sets it apart from every other means of transacting is the fact that all transactions are “absolutely private”. This is what we have been led to believe down the years due to our ignorance. We only need look at the manner in which people can see all the contents of our cryptocurrency wallets and monitor all our transactions simply by having our wallet address. To put it simply, transactions are not truly private. Yes, there have been projects which have been targeted at getting rid of this issues for good but there hasn’t really been a resounding success story till date.
Have you heard about Veil?
The [Veil](https://veil-project.com/![alt text](image url)) platform is aimed at revolutionizing the entire cryptosphere by bringing top notch privacy and anonymity to the fore in all operations. The motto “Privacy without Compromise” just further reiterates this fact. A question you should be asking right now is “What sets Veil apart from the competition?”. You will get your answers by reading a little bit further.
Always on Privacy & Security
The veil project is aware of the vulnerabilities in the current system and wants to correct them. For this reason, the platform that uses the Zerocoin protocol and RingCT technologies wants to build a completely invincible firewall for users. This is to maximize the experience of the architectural blockchain created by Veil.
Anonymous Passive Income Opportunity
For now, it is possible to have a passive income on many platforms. However, the veil project wants to take this one step further. You earn the awards in the veil project anonymously. That means no one knows how much you win and when you win. Even if you leave your wallet open, you can take advantage of the stack rewards.
The veil project does not require any third-party company or stock exchange to maintain its continuity. Thanks to the consensus created by the veil project, users confirm the accuracy of their blocks and thus no third parties are needed. Because the project is completely user-oriented. As a result, the wallet is user-friendly and has a simple interface and design that makes it easy for users to work with…
So, at this point, what do you think about Veil?. Do you foresee any downsides to this project?. You can air your opinions in the comment section.
The p2pool node p2pool.feathercoin.com was down from Jun 7th 18:00 MEST to Jun 8th 11:30 MEST.
Root cause of the downtime was a problem with the hosting system.
The problem was resolved by the hosting provider and everything should be back to normal again.
I’m sorry for the inconvenience.
Since you were interested in UFO in the past - I’m glad to say that project is alive and under development.
Lasted progress upgrade from the team is available at https://bitcointalk.org/index.php?topic=5139845