create account

RE: Week 3 - WeTrust (TRST) -$100 a week on low-cap coins +FREE TRST by joebloggs

View this thread on: hive.blogpeakd.comecency.com

Viewing a response to: @oregonpop/re-joebloggs-re-oregonpop-week-3-wetrust-trst-usd100-a-week-on-low-cap-coins-free-trst-20170718t070347913z

· @joebloggs ·
**I wanted to post this the other day, but my "bandwidth was exceeded."

The exact mechanics are unclear from the white paper.  People need to buy TRST coins on the open market to pay fees for the ROSCA manager.  The fees are held in escrow but the currency used could be bitcoin, ethereum, or a stablecoin like tether.  How will they get unbanked people frequently in rural areas to exchange fiat for crypto?  Most exchanges nowadays require identification and other verifications that are more stringent than banks.  This point is addressed in their roadmap as something that needs to be overcome in order to achieve mass adoption.  

Can't wait to see what comes of this and am adding coins every month.  Also adding Civic.
properties (22)
authorjoebloggs
permlinkre-oregonpop-re-joebloggs-re-oregonpop-week-3-wetrust-trst-usd100-a-week-on-low-cap-coins-free-trst-20170721t150652177z
categoryaltcoin
json_metadata{"tags":["altcoin"],"app":"steemit/0.1"}
created2017-07-21 15:07:06
last_update2017-07-21 15:07:06
depth3
children2
last_payout2017-07-28 15:07:06
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length726
author_reputation3,557,428,805
root_title"Week 3 - WeTrust (TRST) -$100 a week on low-cap coins +FREE TRST"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id9,204,738
net_rshares0
@oregonpop ·
When I was reading the whitepaper this is one of the first things I thought of.  If people have no access to banks then getting cryptocurrency isn't always easy.  There are places like Wall of Coins where you can go to a Western Union type money service center and deposit fiat to a specified bank account and receive your coins that way, but people in 3rd world countries aren't likely to do that.

I got the impression that WeTrust will primarily be used in smaller financial markets in already developed areas and as a "fun" way to save among a group of friends.  We are still very early and who knows how widespread and easy all of this stuff will become.  We're only a year into this whole cryptocurrency popularity boom and the sky, or moon if you will, is within the realm of possibility for many of these coins with good ideas behind them!
👍  ,
properties (23)
authororegonpop
permlinkre-joebloggs-re-oregonpop-re-joebloggs-re-oregonpop-week-3-wetrust-trst-usd100-a-week-on-low-cap-coins-free-trst-20170721t215236296z
categoryaltcoin
json_metadata{"tags":["altcoin"],"app":"steemit/0.1"}
created2017-07-21 21:52:36
last_update2017-07-21 21:52:36
depth4
children1
last_payout2017-07-28 21:52:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length847
author_reputation913,525,057,862
root_title"Week 3 - WeTrust (TRST) -$100 a week on low-cap coins +FREE TRST"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id9,241,446
net_rshares1,411,221,274
author_curate_reward""
vote details (2)
@joebloggs ·
As I understand it, there are many people in the 3rd World that lack basic identity documents like a birth certificate.  Even in these failed states, however, life goes on somehow.  People somehow get remittances from abroad and use cell phone minutes for currency, etc.

I could see ATMs and black markets providing the crypto in some developing countries. We'll see what happens.
properties (22)
authorjoebloggs
permlinkre-oregonpop-re-joebloggs-re-oregonpop-re-joebloggs-re-oregonpop-week-3-wetrust-trst-usd100-a-week-on-low-cap-coins-free-trst-20170724t134203065z
categoryaltcoin
json_metadata{"tags":["altcoin"],"app":"steemit/0.1"}
created2017-07-24 13:42:21
last_update2017-07-24 13:42:21
depth5
children0
last_payout2017-07-31 13:42:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length381
author_reputation3,557,428,805
root_title"Week 3 - WeTrust (TRST) -$100 a week on low-cap coins +FREE TRST"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id9,537,301
net_rshares0