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Telegram plans multi-billion dollar ICO for chat cryptocurrency

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Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#32
post #19
post #8

Earlier quoted context omitted.

Isn’t Apple only seeking a cut of sales of digital goods? You can sell physical merchandise like a real book, but you can’t sell an ebook without cutting them in.

I thought surely you can buy ebooks on the Kindle app for iOS. But a quick search and you are right - nope, you cannot buy books on the Kindle app for iOS. The option just isn't there.

And you can't even present a link to purchase digital goods through a browser... You can open Mobile Safari and search Amazon for a Kindle book, but you can't use an Amazon app of any sort to do part of it.

Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#34
post #30

What's the value of the in-app currency being a cryptocurrency (putting aside hype/pr), vs calling it a virtual currency, a Mysql database with a API on top? Dropping to a technical level, if the miners are all run by Telegram, then I think it's just a pointless overhead over Mysql. On the other hand, if anybody can run miners, I don't comprehend what value that adds, what it means.

>What's the value of the in-app currency being a cryptocurrency

In a word -- decentralization -- is the key difference between a virtual currency described by some SQL tables and an API and one described by a blockchain.

A gov if it wants can take down a server if it is physically hosted in that country. A blockchain unless you've gargantuan CPU power is nigh on impossible to take down.

Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#35
post #34
post #30

What's the value of the in-app currency being a cryptocurrency (putting aside hype/pr), vs calling it a virtual currency, a Mysql database with a API on top? Dropping to a technical level, if the miners are all run by Telegram, then I think it's just a pointless overhead over Mysql. On the other hand, if anybody can run miners, I don't comprehend what value that adds, what it means.

>What's the value of the in-app currency being a cryptocurrency In a word -- decentralization -- is the key difference between a virtual currency described by some SQL tables and an API and one described by a blockchain. A gov if it wants can take down a server if it is physically hosted in that country. A blockchain unless you've gargantuan CPU power is nigh on impossible to take down.

It's not decentralized if one organization owns 52% of it.

Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#36
post #30

What's the value of the in-app currency being a cryptocurrency (putting aside hype/pr), vs calling it a virtual currency, a Mysql database with a API on top? Dropping to a technical level, if the miners are all run by Telegram, then I think it's just a pointless overhead over Mysql. On the other hand, if anybody can run miners, I don't comprehend what value that adds, what it means.

They can't make a cool 500 million from adding a row in their Users table for currency.

Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#37
post #32
post #19

Earlier quoted context omitted.

I thought surely you can buy ebooks on the Kindle app for iOS. But a quick search and you are right - nope, you cannot buy books on the Kindle app for iOS. The option just isn't there.

And you can't even present a link to purchase digital goods through a browser... You can open Mobile Safari and search Amazon for a Kindle book, but you can't use an Amazon app of any sort to do part of it.

That part really blew my mind. I spent a good 20min trying to find out how to buy audiobooks on audible

Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#38
post #2

I don't understand: Wouldn't Apple just remove their app from the app once they touch payments? Someone will be bitten by compliance, and if Telegram is able to circumvent that then the bucket stops with Apple. This is what has stopped me from doing payment in my apps until now - you never know when some apple or google employee decides to smash you in the face with the ban hammer.

It is also opening them to regulation from a lot more than Apple. It is hard enough for a large tech company to deal with conflicting demands of various governments over privacy & censorship. Create a currency and now you can add financial demands as well.

Why are they doing this? Because companies are raising vastly more money and at a faster speed than going the traditional VC or even IPO route right now. The strategy: Make up any reason and do it.

I think the decentralized, semi-anonymous, open source development route can benefit from this approach better in the long term than a centralized for profit company can.

Games may also end up being some of the biggest success stories. When you can actually prove that something is rare, and even potentially decentralize the gameplay, it presents interesting options for anti-cheating and proof of value. What is dumber: crypto kitties or con artists making hundreds of millions of dollars off sloppy copy and pasted documents?

Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#39
post #15
post #11

Earlier quoted context omitted.

I suspect that once you get big enough, Apple is reluctant to touch you. Remember, Uber broken Apple's app rules, and were not banned, merely threatened[1]. If Apple removes the app, then who will people blame? The app or Apple? I suspect Telegram might be betting on that. [1] https://www.usatoday.com/story/tech/news/2017/04/24/ubers-ka...

Telegram still concedes to Apple. You cant join Telegram chats marked as NSFW on iOS devices.

You can (for now?) do that with the official Telegram X app though (https://itunes.apple.com/us/app/telegram-x/id898228810?mt=8)

Re: Telegram plans multi-billion dollar ICO for chat cryptocurrency

#40
post #6

I fail to see why this is valuable in any way. Why would this raise even a million, let alone half a billion?

Because people are crazy about icos right now. Just in the last week, Crypterium has raised $45M, EOS has raised several bilions etc.

There are around 1 million people who are big into altcoins that are constantly ogling icos to get in early for the cryptocurrency to go 100x or 1000x.

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