The CEO and founder, Mosheh, is a friend of mine from the early days and we went to college together.
We have spoken many times about Bitcoin and Kurrenci and he plans to integrate with Bitinstant to allow for Bitcoin deposits as well as our other methods.
Will keep everyone updated.
-Charlie
Topic: new!? digital currency pegged to USD, called Kurrenci - page 2. (Read 4291 times)
Apparently they can't even do basic math:
EDIT: or I guess it's the author of this article, Bakari Chavanu, that can't do math?
EDIT2: Ah no, it's taken directly from their FAQ https://kurrenci.com/public/FAQ so it's actually them that can't do the math.
Basically they claim the merchant will be able to save on transactions fees which will allow him to offer a lower price which will be the only reason for a positive exchange rate.
Quote
How does the exchange rate work? Kurrenci says you take the purchase price and divide it by the store’s exchange rate. For example, if a shirt you want costs $50 and the exchange rate is $1.25, then you pay just 40 Kurrenci. You save $10.
EDIT: or I guess it's the author of this article, Bakari Chavanu, that can't do math?
EDIT2: Ah no, it's taken directly from their FAQ https://kurrenci.com/public/FAQ so it's actually them that can't do the math.
Basically they claim the merchant will be able to save on transactions fees which will allow him to offer a lower price which will be the only reason for a positive exchange rate.
But if they make transferring currency more efficient, then why not?
Well, it's fraudulent for one. Advertising a "currency" and then delivering a "payment processing system" is fraud. Look at the clusterfuck that Dwolla created, for instance.
Yeah I have $180 tied up in there...
But if they make transferring currency more efficient, then why not?
Well, it's fraudulent for one. Advertising a "currency" and then delivering a "payment processing system" is fraud. Look at the clusterfuck that Dwolla created, for instance.
Another one of these pops up every year or so -- e-Gold, Liberty Reserve, Dwolla, Pecunix, etc.
None of them are ever end up being actual currencies. Besides, currencies that are pegged to other currencies are not really true currencies either.
None of them are ever end up being actual currencies. Besides, currencies that are pegged to other currencies are not really true currencies either.
But if they make transferring currency more efficient, then why not?
Another one of these pops up every year or so -- e-Gold, Liberty Reserve, Dwolla, Pecunix, etc.
None of them ever end up being actual currencies. Besides, currencies that are pegged to other currencies are not really true currencies either.
None of them ever end up being actual currencies. Besides, currencies that are pegged to other currencies are not really true currencies either.
Paypal competitor fail.
Commenter knowledge fail.
Commenter knowledge fail.
I asked some questions in their chat box, but nobody's gotten back to me yet.
The "Earn" section makes me think it is Bitcoin related, although they have nothing there yet.
The "Earn" section makes me think it is Bitcoin related, although they have nothing there yet.
I contacted them on twitter about bitcoin last week and I am hopeful they will accept btc for it in future.
Kurrenci
http://www.makeuseof.com/tag/money-digital-age-called-kurrenci-updates/
I do not have any detailed understanding of Kurrenci.
The reason I'm posting this here is that some forum visitors might find it relevant and would be interested in reading comments from bitcoin community about Kurrenci.
http://www.makeuseof.com/tag/money-digital-age-called-kurrenci-updates/
I do not have any detailed understanding of Kurrenci.
The reason I'm posting this here is that some forum visitors might find it relevant and would be interested in reading comments from bitcoin community about Kurrenci.
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