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Topic: NFTs exist to shore up fiat. (Read 25 times)

legendary
Activity: 3766
Merit: 1368
March 20, 2022, 12:16:25 PM
#1
NFTs exist to keep fiat from collapsing.

How does it work? Making NFTs the focus, keeps everybody - all the Mom and Pop businesses to giants like AT&T and Google, and everybody in between - from looking at the great business gift they have in crypto-tokens.

Take Starbucks coffee as an example of how fast something might grow. Starbucks starts a token called Coffeecoin. It doesn't have miners or mining. Rather, it's based on coffee customers buying coffee.

Every purchase by a customer is given its own crypto address, which is placed into a bar code or a QR code on the receipt. The customer has the option of scanning the address so that he gets coffeecoins. How many coffeecoins (CC) does he get? One CC for every full dollar in the purchase of Starbucks products.

In the beginning, these CCs aren't worth anything... but they don't cost anything, either, ever. Because they work through the CC app, they can't be manipulated or faked, the blockchain for them having been designed to protect from double spends, and forgeries. In the app, CCs can never drop below a dollar in value, but they can rise in value... the sky is the limit.

Because of the size of Starbucks, it won't take long for millions of CCs to come into existence. This number will become noticed by the exchanges, and they will add CCs to their list of tradable coins... or Starbucks can start their own exchange.

So, you stop in at a Starbuck's and get a $5 coffee. You also scan your receipt barcode/address into your CC app, thereby getting 5 CCs.  Instant $500, because by now, coffeecoin tokens have risen in value to $100 each. Guess where you will go for coffee from now on?

Starbucks will have to figure out ways to limit your daily purchase amounts. Can be done. Necessary, to keep CCs from becoming a Ponzi.

If many business do this, their competition will fail until they make their own token, just like those that do.

If they add a Private Membership Association (PMA) to each purchase (gifting of tokens), they will be able to take the process out from under government control... according to the 1st, 4th, and 5th Amendments, plus 70 strong Supreme Court cases that say that it is outside governmental jurisdiction when it's a PMA.

Imagine, just imagine the failing of the fiat systems, which will be replaced by private tokens. This is what NFTs are trying to prevent by taking the focus off the many coffeecoin like tokens that will come into existence when people simply realize they can do it.

Cool
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