Discuss the Palai digital currency and payment platform, and related subjects.
1 of 1- tzahnke
- Administrator
Offline - Registered: 9/10/2021
- Posts: 33
Predictions for the first place where Palai will be widely used
Hello! I've been a Palai user since January 2019, and the question that has been on my mind since that very first day is, what kind of business do you think will popularize Palai? Yes, several websites take Palai already; DSB has an entire section in Palai, yet it seems to only be used once in a while other than as a place for people to sell the Palai they have collected. Also, a German job search site called jobfin.de takes Palai, the HARP's German-language philosophy magazine Narthex takes Palai, and a music events website called Veranstaltungsportales takes donations in Palai as well; in fact, as far as donations go, it may be even more common; the American website Crypto UBI, a site dedicated to advocating for universal basic income through the power of digital currency, has donation addresses for a number of currencies, Palai being one of them. However, all of these examples appear to be at a fairly small scale. Where do you think the first large Palai usage will happen? I'm talking a big example, where tens of thousands, if not hundreds of thousands or maybe millions of people will hear about Palai. I'm not asking you to name a company, I'm asking you to name an industry. Some people think that, since Palai is trying to get currency into the hands of the unbanked, with rich and poor being equal, that Palai should be used to buy things that people need, such as food and clothing. Other people associate digital currencies with a digital world, so some people think Palai will be used in online gaming, maybe to buy in-game items, trade for an in-game currency, or sent to the winner of a multiplayer match; in fact, when I first heard about the ever-popular digital currency Bitcoin, I thought it was mostly a gaming thing; had no idea it would become a serious investment worth thousands of dollars. Some people think that Palai will be used to keep people connected with the latest information, so mobile phone and Internet providers will accept Palai. What do you think the first popular use of Palai will be? As a simple gaming token, or as a currency for purchasing things people need, or something I haven't thought of yet? Maybe it will catch on with creative artists (musicians, photographers, digital graphics artists, writers, etc.) to sell their content; as a musician, I had actually thought of this at one time; maybe the first big use of Palai will be at a virtual concert with many people attending, and there will be a Palai link for people to tip the musician. What do you think the first big use case will be, the one that will probably double Palai's user base in a short period of time? Even if it's something like a currency trading website, where people just put all their Palai there and trade it for another currency, even if it's a dollar or euro.
- makeBlockchainHistory
- New member
Offline
- Registered: 12/06/2021
- Posts: 5
Re: Predictions for the first place where Palai will be widely used
I think as long as we dream, we can continue not to live the dreams. It must begin in each of us to live the palai as a symbolic value and to be able to offer it appropriately to another merchant. As long as you can find even one on the Internet who has a huge number of pieces and also only prices them for 1 euro or 1.1 dollars, it will remain so in the future. With Bitcoin, we have had a different approach. There was a costly effort to produce it, which had to be covered in the form of electricity. The value that is created or must be created out of necessity or sense must represent the same effect. 10,000 Bitcoins were used to buy 2 pizzas. The close connection or friendship made it possible. This historical event made Bitcoin famous. Palai is a basic income concept. I don't think anything needs to change about it. Palai needs to take the next step. And this is called BrightID. Similar projects have already taken this step. Example: Manna or H4H
Here the source Web brightid.gitbook.io/brightid/
Here is an article: web hedgeforhumanity.medium.com/the-second-dawn-of-manna-part-2-b7b9282fe5de
- makeBlockchainHistory
- New member
Offline
- Registered: 12/06/2021
- Posts: 5
Re: Predictions for the first place where Palai will be widely used
i am startet 2018-12-03 21:23:00 UTC
my first Transaktion #23786
my donations receiving address
grundeinkommen777+89b8b208d-bf27-42d0-a674-39e905a6b467
my invitation link
Last edited by makeBlockchainHistory (12/06/2021 7:19 pm)
- tzahnke
- Administrator
Offline
- Registered: 9/10/2021
- Posts: 33
Re: Predictions for the first place where Palai will be widely used
It sounds like an okay idea. I've seen BrightID being used. But to be honest, I think Palai thinks their verification is more universal; whether it works better than BrightID, I'm guessing neither they nor I don't know yet, but perhaps Palai thinks theirs is more accessible than BrightID. I wouldn't push for it; yes, BrightID is great, but maybe Palai is trying out a different way.
- •
Thread Starter- makeBlockchainHistory
- New member
Offline
- Registered: 12/06/2021
- Posts: 5
Re: Predictions for the first place where Palai will be widely used
Your answer was really fast. In Germany it's already 1:50 AM, thanks for your feedback. I am really curious how it goes on
- Polosuse
- New member
Offline
- Registered: 10/22/2022
- Posts: 7
Re: Predictions for the first place where Palai will be widely used
It will still be a long way until then and it will probably not all go so smoothly, we have to wait and be patient
- knotwork
- New member
Offline
- Registered: 5/12/2024
- Posts: 3
Re: Predictions for the first place where Palai will be widely used
I think it would help a LOT to all work together to get it a recognised value.
Often sites that try to show the value of various assets obtain the value displayed by looking at the highest buy offer, so in general it seems that one of the main ways to make an asset show up as having value is to build a very strong buy-side for it on order-books.
That provides a highest buy offer for outside publications to refer to, a value they can show as current apparent value.
Admittedly some places do seem at least sometimes to show the price as of the last trade known to have happened, but that method is susceptible to wash trading, where someone buys from themself to try to "establish" a value.
So I suspect it is more usual to use current highest buy offer.
Of course to do this we need a venue of order-books to post our buy and sell offers at.
For that I suggest the STELLAR (XLM) platform.
The original idea, called Ripple, was a person to person IOU-tracker where individuals could issue IOUs and choose how many, of whose, IOUs they themselves were willing to accept.
Someone bought the name and idea, and came up with the currently high in market cap rank Ripple (XRP), but that project seemed to sell out to "big bother" as it were, even stopping having private wallets one could run for oneself at home, so its creator created Stellar, much the same concept but hopefully so far not so "sold out" to "big brother".
Currently still on Stellar individuals can at almost no cost issue IOUs, so it would be trivial even for each and every person interested in establishing trade in Palai to issue an IOU named Palai, and to choose which if any other accounts' Palai tokens to "trust".
More likely to succeed though might be for the issuers of Palai itself to issue Palai tokens on the Stellar platform, since everyone already seems to have to trust them in order for any of the Palai currency to ever have any value at all, inasmuch as they seem to "hold the keys" to the whole thing.
I have been thinking of how to handle issuing such IOUs myself, as I already issue a lot of assets on that platform for the Galactic Milieu project, largely because the cost of issuing there is so very trivial.
The way to issue there is weird, anyone can make up any name for a something they are willing to "trust" your account for, and you don't even get told anyone did so!
So once you have a Stellar account, anyone could set their own account to trust yours for x number of anything, any name they make up, beer or BEER or Palai or PaLaI or any string of text as a name, and you do not even get informed, unless they manually inform you themselves, that your account now has the ability to issue that many of that name to the account that set up the "trust line".
Thus the way I issue on Stellar is to set up an issuer account AND an issued-to account, and set the number the issued-to account trusts the issuing account for to the number I intend to issue, since another quirk of the system is the issuing account seems to show no record of how many it issued.
Thus I use the size of the trust-line that I set up at the issued-to account to the number issued, and issue that many to it, then request that users wanting to send the things back send them to the issued-to account rather than to the issuing account (which is the one they need to "trust" for x number of the thing in order to be able to accept that account's version of the thing from anyone).
There, I now have two posts, so next post I can presumably start providing links. 
-MarkM- (aka Knotwork, Makemoney Knotwork etc)
Last edited by knotwork (5/12/2024 4:59 am)
Support the Unofficial Palai Forum by donating some Palai to the current administrator.