Quote from: rockethead on September 12, 2014, 04:44:37 PM

Quote from: Wulfcastle on September 12, 2014, 04:19:39 PM

Quote from: Chaos514 on September 12, 2014, 03:24:33 PM

Yesterday, I've read that Paypal is considering accepting Bitcoin. I know it's now for tomorrow, but imagine if we could make an alliance with Braintree to including NEM as a payment option with Paypal. This would be fantastic.

http://www.theguardian.com/technology/2014/sep/11/paypal-bitcoin-braintree-overstock-reddit

I'm a supporter NEM, but seriously that is the dumbest thing I've read all week.

Do you really expect PayPal, to include NEM when it hasn't even integrated Bitcoin yet? If Bitcoin proves to be a successful integration with PayPal (which it most likely will), PayPal will probably only ever add another crypto-currency if it rivals Bitcoin, and I'm not talking in features alone, but in popularity and use, unless the become pro-crypto-currencies and start openly supporting crypto-currencies in it's entirety (which likely will not happen).

In the event that PayPal do become "pro"-crypto-currencies or if NEM surpasses Bitcoin, you are looking at this 3-4 years down the line. There is no way PayPal is going to add NEM overnight, or even within a year of it launching. You have to remember that PayPal is not some small business that you can simply persuade into accepting NEM, they are a multi-Billion, multi-National business, you can't just send them an e-mail explaining why NEM is "X" times better than Bitcoin and expect them to add NEM.

NEM has to outright surpass Bitcoin in every aspect, including community numbers, for it to stand any chance of gaining the type of adoption that Bitcoin receives, and that will be an extremely tough challenge. Than again if NEM achieves what it set out to do, then we won't need payment processors like PayPal anyway.

You may like to know that NEM is not just a coin. NEM is a platform and an ecosystem. NEM purports itself to be a transaction enabler and not a medium of exchange (like fiat or bitcoin).

NEM facilitates a medium of exchange (like fiat or bitcoin). NEM coins are incidental to being an enabler, i.e., the NEM coin is a fuel to enable transactions.

Therefore, there is a fundamental difference between NEM and altcoins and the community should understand the implications of what NEM as a platform and ecosystem can do.

Hence, the power of NEM makes Paypal a subset of what NEM can do. How is it going to overtake this billion dollar company is obviously a billion dollar question in itself. It needs us as a community to plough it through.

So, once NEM is a proven system, Paypals of the world will want to make use of it to enhance their business, including accepting Bitcoins using NEM. And how do we transact Bitcoin (or fiat) over NEM?

That's what AltNemo is working on to give NEM a holistic solution. NEM as a decentralized solution platform provides a very strong foundation for a partly centralized system like AltNemo's to provide for the greater use of the NEM platform and ecosystem.

IMHO, it is my vision and hope that in the final outcome, a critical mass from 99.9% of the world's population adopt NEM as a platform to do their commerce, trade and finance, migrating from a wholly centralized ecosystem (i.e., fiat world economy) to a wholly decentralized ecosystem (i.e., NEM) via a bridge and catalyst (i.e., AltNemo). Of course this is going to take a long time, if ever. But still, it is a vision and hope.

That is a grand vision. I like it.