DTP And Cryptocurrency
This is not financial advise. There are no crypto gurus here. This is just the ongoing discussion centered around cryptocurrencies and how we use them here.
Related post on Shing Community
From a business perspective, I can say that the regulatory shenanigans and uncertainty surrounding cryptocurrency ("Bitcoin") have had impacts on Shing/DTP both positive and negative over time. The regulatory uncertainty (and constant bickering) is the reason the HandCash wallet had to freeze top-up again. And, look at the timing. All of this is happening just as the crypto markets receive some favorable news and experience a large recovery/upturn in activity and value.
I'm not going to analyze that. I'm not going to look for meaning in it. I just see what I see and think what I think about it. There is simply a small tribe of people on this planet...the jews...who can't stand to see a market go unmanipulated. This is literally why I do NOT encourage people to invest in it. Cryptocurrencies are, right now, a battleground where a literal war is taking place over the freedom of your money, your wealth, and how you choose to use it (especially online).
HandCash And Challenges
🚨 We are temporarily halting our fiat ramps and gift card services while we work on getting our compliance standards up to date.
— HandCash (@handcashapp) June 16, 2023
We apologize for any inconvenience this may cause.
When it works...when HandCash is able to provide a top-up and cash-out service...it is wonderful. And, it's wonderful for many reasons. Transactions are usually very fast (recent problems aside). And, with BSV, the fees are incredibly low. The HandCash wallet and API exactly fit the Shing/DTP business use case of small-amount tipping, membership purchases, and soon probably also features like Pay Per View for live streams, "Join channel" to commit monthly support to your favorite channels in exchange for exclusive content beyond Subscribe, and more.
We need one currency that "acts right" and for "the globalist bankers" to stop messing around. The "mysticle" that is Craig S. Wright is what it is, but BSV otherwise gets it very right. And that is why the "globalist bankers" are trying to destroy our nice things. They're not happy about getting **shoved** out of the fee structure. I'm on this tech to help **shove** them out of the fee structure. So it's going to be a bumpy ride.
I appreciate your patience as HandCash goes through these various growing pains as an idea and as a company. The recent updates to their website are incredible if you haven't seen it in a while. And, I'm just going to remain hopeful that they can get top-up and cash-out working again quickly.
Negative Impacts
- The difficulties that HandCash is having keeping their top-up and cash-out services alive.
Positive Impacts
- Cryptocurrency enables Shing to offer commerce features
- BSV's low fees mean it just makes sense to leave a $2 or $5 tip in the stream chat if you're enjoying the show
- Streamerns (and soon other content creators and vendors) can monetize their work and earn a living
- As close as possible in the digital domain, it works exactly like cash
- No one has to ask anyone for permission to use it
Going Forward
We don't seek to innovate in the crypto space, we seek to integrate the innovation that's happening now. HandCash is/was the first wallet tech integrated into Shing/DTP. We have experienced success with it and, as the climate surrounding crypto continues to mature and things settle down, currencies like Bitcoin SV (BSV), Bitcoin (BTC), Litecoin (LTC), and Monero (XMR) will only become more useful and more prolific. More people will understand how they work, how they can work to enable online commerce, and why they can be very beneficial to use online isntead of a credit, ATM, or debit card.
One of the challenges is: "Do you accept [cryptocurrency name]?" because there are very many of them. And it has been recommended that we explore the integration of the WalletConnect API, and integrate it into Shing and DTP. WalletConnect would enable the use of any compatible wallet (not just HandCash) to make payments on the platform, tip, and more. So, we're excited about getting WalletConnect integrated as quickly as possible to enable people to shop and pay for things in ways that work best for them.
Cryptocurrencies can be good for online commerce. They need to mature into the use case a little more, and there are several great initiatives happening in that direction right now. Paper money and FIAT systems were created to solve older problems, systems have become corrupted, and people's needs have evolved. Plus, online businesses and online commerce have different problems from what is solved by paper and FIAT.
Cryptocurrencies were created to operate exclusively online with resilient models for conducting digital commerce. It makes good business sense for Shing and DTP to be participating in that. So we do and will continue to do so.
