Funny,
first time you will hear about this and last time.
I'm curious how those companies have budget for playing around and why they believe they will be relevant enough to have any impact on daily life for anyone at all?
EU NGI TALER will bring private and secure online payments to the Eurozone
101–110 of 146 posts
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#102If I could rig my browser to pay 1 cent for every newspaper article I read, I would happily do so. The biggest issue with paying for news is that you are reduced to a small handful of sources. I would like to read a couple of articles from a hundred sources, not a hundred articles from one source. Not sure this platform solves the problem, but it would be a game changer if it did.
Yeah, it's weird that no one ever made that model work. I think it was tried?
Not hard enough. The problem with this model is that it would be vendor agnostic and no one wants to be the "dumb pipe". Everyone wants to own the entire system, ergo, proprietary payment systems (Google/Apple/Samsung/Microsoft/... Pay).
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#103Earlier quoted context omitted.
You can still convert old DM into Euros at the initial rate in Germany ( https://www.bundesbank.de/de/aufgaben/bargeld/dm-banknoten-u... .)
The majority of EU member set a limit date: https://www.ecb.europa.eu/euro/exchange/html/index.en.html
I don't think the majority in that list has set a limit for bills, only for coins
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#104Another one? Europe already has multiple private and secure online payments: for example https://en.wikipedia.org/wiki/Blik
How is that one private? It is coupled to your bank account so your purchases can be nicely tracked, and to add insult, you also need to use your bank's crappy online banking app
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#105Earlier quoted context omitted.
4. the central bank gets to decide how much "cash" each individual deserves to have at any given point in time. All of the proposals I've heard set that limit at less than one month's apartment rent in most EU cities. Therefore, this scheme is not competing with any form of money or payment besides coins-and-banknotes. 5. this "cash" has an expiration date, which is chosen at the whim of the central bank. If you stuf…
> 4. the central bank gets to decide how much "cash" each individual deserves to have at any given point in time. Taler is a payment system, it has nothing to do with central banks at all. > 5. this "cash" has an expiration date, which is chosen at the whim of the central bank. If you stuff it in your mattress like paper cash, it becomes worthless. Therefore, this scheme is a massive step backwards in terms of centra…
Like a lot of conspiracy theory, there's a core of truth. All you have to do is ask the question "is this system going to be allowed to be used for crime on a huge scale", receive the obvious answer "no", and infer that there will be some control built into the system.
Where it leaps into conspiracy is the question of when and whom this will be used against. But it's fairly obvious that measures will be taken against drug sellers, sex workers, banned political parties and so on.
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#106If I could rig my browser to pay 1 cent for every newspaper article I read, I would happily do so. The biggest issue with paying for news is that you are reduced to a small handful of sources. I would like to read a couple of articles from a hundred sources, not a hundred articles from one source. Not sure this platform solves the problem, but it would be a game changer if it did.
My standard reply to this: https://github.com/pjc50/misc-personal.github.io/blob/master...
> If I could rig my browser to pay 1 cent for every newspaper article I read
Define "read". And "article". Should you get charged for every link preview you scroll past on Twitter? (see lawsuits! the publishers think you should, or at least that this is copyright infringement)
Can I build a page with one "article" plus one thousand hidden iframes each of which also contains a one-cent "article"?
Who polices fraud in this system? How much does it cost?
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#107Earlier quoted context omitted.
The majority of EU member set a limit date: https://www.ecb.europa.eu/euro/exchange/html/index.en.html
I don't think the majority in that list has set a limit for bills, only for coins
Uhm, i guess you are right. (9 vs 11). Sorry I guess I didn't pay enough attention.
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#108Earlier quoted context omitted.
I don't think the majority in that list has set a limit for bills, only for coins
Uhm, i guess you are right. (9 vs 11). Sorry I guess I didn't pay enough attention.
No worries, you were right that a majority put time limits on at least some exchanges into Euro.
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#109Where is the balance in my wallet stored? Your wallet stores digital coins and thus ultimately your computer holds your balance. The exchange keeps funds matching all unspent coins in a settlement account. What if my wallet is lost? Since the digital coins of value in your wallet are anonymized, the exchange can not assist you in recovering a lost or stolen wallet. Just like with a physical wallet for cash, you are r…
Also reminiscent of Mondex, from the same year. https://en.wikipedia.org/wiki/Mondex
Also sounds like Chipknip, in the Netherlands, launched somewhat later (which also never took off): https://en.wikipedia.org/wiki/Chipknip
Re: EU NGI TALER will bring private and secure online payments to the Eurozone
#110Earlier quoted context omitted.
Only unstable third-world countries do that. The Bank of England honors all of its old banknotes: "There is no deadline to exchange old banknotes with the Bank of England." https://www.bankofengland.co.uk/banknotes/exchanging-old-ban... The United States has never demonetized any of its coins or banknotes. All of them are honored and are in fact still legal tender to this day -- even the $100,000 bill! https://en.wik…
In contrast, all of Europe has demonetized its old currencies (Deutschmark, French Francs, Italian Lira, etc.) when switching to Euros, and a few times before that. I've just looked it up and one Napoleon Franc is currently worth ~20€. So, it's not that uncommon.
Europe is an unstable third world country, haven't you heard?