#5 August/2020 - Random toots thread..
#4 July/2020 thread (83 toots)
"Prime Minister Narendra Modi prostration: PM Narendra Modi today prostrated Lord Shri Ram in Ramlala as he was seated before laying the foundation of Ram temple construction.
On reaching Parliament for the first time in 2014, the PM also worshiped the stairs of Parliament."
Yeah, I remember he did that to Nityananda too
-- User deposits currency notes to this machine
-- Machine checks notes aren't fake, shreds it into pieces, mints equivalent in stablecoins, credits it to the QR code shown by user
Less insulting idea;
-- Read currency note serial number
-- Mark it as "converted"
-- Keep a record of this number in mint transaction; Coinbase to user address
Tagging #bitcoin, because it could be potential on-ramp / gateway drug
@freakazoid conversation back to fiat is possible in both shredding & non-shredding methods
There's no difficulty involved here.. only bottleneck is amount of fiat notes the machine can handle
This kind of stablecoin is decentralized, and it isn't affected by inflation
@vjy To be a stablecoin, conversion needs to be at a fixed exchange rate in both directions. In order to be able to support conversion back to fiat at a fixed rate, you have to keep the fiat in reserve. You can't destroy it. Unless you're a central bank of course.
@freakazoid this idea is better than fiat.. so, it's going to be valued more than fiat
It's stablecoin like coin.. if you call it bettercoin / superiorcoin, I don't mind :)
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