Hyperactive About Crypto

in crypto •  3 months ago 

AMC gets ‘hyperactive’ about crypto, CEO says it may issue its own coin

The AMC boss said that there are many reasons why the company could issue its own cryptocurrency.

This is one huge area of growth. We see the start of it with fan NFTs - remember, NFTs do not have to be crappy art, they can be whatever is encoded in the contract.

Corporate crypto coins expand massively their use cases compared to just holding shares. Corporations can then monitor their customers' behaviour and reward good citizenship while seducing them with an ever-expanding menu of must-have add-ons that are exclusively available only through their crypto.

Take this one step further. You could have a whole mass of people who are able to participate in controlled activities by virtue of the crypto they hold, without actually having any money whatsoever.

Now, doesn't that make you hyper too?

[Where's the Xanax?]

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I've mentioned for years that

Corporations can then monitor their customers' behaviour and reward good citizenship while seducing them with an ever-expanding menu of must-have add-ons that are exclusively available only through their crypto.

In many ways one could view something like the Fakebook game tokens as a watered down version of this. Less regulation though as it is designed to always fleece the purchaser who then uses the add on game specials for a one time use. If one can navigate through the punishing regulations involved once it can monetarily benefit the consumer it will be a game changer.

I've said that for years about Steem, then Hive and now Blurt. If a way could be found that would enable folks to just outright buy Blurt without jumping through the shark infested exchanges who are renowned for stealing ones crypto under the banner of KYC non existent customer service it would be a real game changer for the chain to do so.

Supermarket coupons have always had, in tiny writing, a nominal value so that they could not become a form of money - those days are long gone. lol.

I don't understand what you mean about buying crypto - how much easier can it be than hive-engine? You mean like a shop? ENG and BEE were sold at a fixed price; one could use the market if it was cheaper.

There is a way, just create tokens on other chains and sell them! ;-) But where would those tokens come from and what would happen to the money gained, which may just be another coin. lol.

When I talked of buying, I meant with actual fiat. I have no desire to send money to Coinbase after jumping through their KYC verification hoops, praying I'm not oen of the untold thousands they take the money no problem, but when it comes time to send my crypto to another exchange costing me fees they suddenly can't get me verified no matter how much one complies. Looks like many bad reviews have been scrubbed now.


Even with that they still have over 6000 reviews and a 1.6 out of 5 rating. The main complaint being they have no issue with deposits, but don't like to let you withdraw and play a circular game on ID verification.

But, if one passes through that hoop, then it costs you to send to another exchange, where one will again pay another fee for trading, then another fee for withdrawing the coin one wanted the entire time.

Add in the multiple James Bond procedures one need take to safeguard several passwords so long they are impossible to remember, and it is probably the top reason there isn't more investment into crypto by average people.

I always found it telling that institutions who say this is all necessary for KYC never seem to have any legal issues with all the theft they perform not releasing peoples assets.

I used to recommend both on Steem and Hive that they should figure out a way to sell the coin directly, it would immediately create more demand erasing the need for the buy in middlemen. I even speculated on the possible loophole of front ends selling it as a bonus included in some form of subscription, where it wasn't (wink wink) what was being sold. Because for some reason when I go to make purchases online for normal everyday items I'm not required to jump through all these KYC hassles.

But you already did the KYC - it's a credit card!! ;-) or a digital wallet, like Alipay etc.

Accepting credit cards for crypto kinda sucks as the fees are high for the merchant, hence they will be passed on in some way. Also, direct sales is a solicitation to buy something that looks a lot like stock. ;-)

But you already did the KYC - it's a credit card!! ;-) or a digital wallet, like Alipay etc.

This is why the KYC hoops seem to be a scam to me. If I use my debit/credit card, a bank account or Paypal etc, I already went through some form of KYC, and never to the ridiculous extent the exchanges seem to want. I've never had to hold up my ID and take a selfie.

Many years ago I got a credit card solely by applying online. I never had to jump through the ridiculous hoops these exchanges seem to need once you wish to withdraw from them. Then you read the complaints on refusing to allow one to withdraw because no amount of ID or selfies seem to satisfy them. They are little more than government sanctioned thieves who never get punished while pretending to make this so difficult and stealing from one under the false banner of consumer protection.

All of that seeming simplicity is because all the background checks happen in ... the background. The info is all accessed via computers. In contrast, here you often need pages of notarised crap to get anything done - just coz the computer systems are garbage and are not trusted. Same with so-called exchanges - they have zero access to your data. Sure, some are scams - others are just training for the digital prison eg Coinbase and now Binance.

BTW I don't disagree about the scammy nature of many exchanges, but they are pretending to be legit coz they have no access - or won't pay for it - to credit rating agencies; also in many countries those agencies don't even work.

Anyway, prob a long discussion about freedoms, but seems to me most people want freedom from responsibility and consequences.

The real insight is that it's the "legit" scammers who really suck! Welcome to the City of London offshore jurisdictions ;-)

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