Phore may become a very big deal in cryptos and a Libertarian’s paradise
Phore is new and tiny at the moment. It’s a very old-school-launched coin done without fanfare and run by a small team of committed developers. There was no grand ICO, no hyped-up airdrop or bounty campaign. Just a simple coinswap for people who held KTK (Kryptcoin).
Running its operations out of the team’s Discord, there’s very much an indie feel about this one. In a short space of time the project has picked up grassroots support from a community of people all over the globe who are united in wanting to see Phore succeed.
And it will. I don’t think I’ve ever been more-certain that a coin will rise from nowhere to prominence in a big way as I am about Phore. Phore will have a very good year in 2018, and the reason is because if all goes as planned, it solves a lot of problems. Perhaps unbeknownst even to the developers themselves. More importantly it will likely solve them before anyone else.
The decentralized P2P marketplace
So what is the number 1 problem with cryptos?
Forget outrageous fees, hacks, ICO-mania, exit-scams, looming government legislation and volatility. The main problem has always been getting your fancy internet money into the real world. In fact I’d say it’s a huge contributing factor to Bitcoin hitting $12,000 today, because it’s such a bloody hassle to actually spend it.
Up until now this has been tried with exchanges, credit cards, payment processors and other methods, all with hefty fees and “Know Your Customer” requirements. But I’d argue that these all take a wrong-headed approach. These approaches have thus far; relied on converting crypto to fiat.
Instead more focus should have been spent on bypassing the middle-man and just spending our ones and zeroes on actual real-world items. Without any need for Coinbase, banks or fiat at all.
There have been a few half-hearted attempts at this, but mostly they’ve amounted to going cap-in-hand to retailers and begging to be allowed to buy their items. And we play their game. We jump for joy that Amazon might one day let us buy their tat, we cream our undies because Burger King made a Waves shit-token. That’s not how you do it. If they ever did allow us to spend our cryptos it would be on their terms. It would be expensive and would obliterate our privacy. There’s no way that Amazon will ever let you buy anything anonymously. They will extract as much data as they can get and pretty soon this will creep in across the cryptosphere. You’ll require I.D just to send a transaction.
The way to do it is not to go begging to them, but leave them out in the cold. Wealth is leaving fiat for crypto over the next decade, and if retailers want to be a part of it they can damn well come to us and trade on our terms. Or they can be replaced.
We do this by creating our own marketplace, decentralized and above all; private. OpenBazaar got very close to doing this, but didn’t really make a splash because:
- There was no cryptocurrency of its own to excite investors and provide money for growth
- It uses Bitcoin and Shapeshift, neither of which are private
Here’s where I shill you on Phore
This is where Phore comes in. Starting life as a simple, low-inflation, low-supply masternode coin, it’s developers are very close to integrating OpenBazaar’s open-source code into the Phore client. Forked from PivX (itself a fork of Dash) the coin will allow buyers and sellers to transact privately from the comfort and convenience of their wallet.
Phore is not the only coin aiming to do this, but they’ll likely beat their much better funded and much more expensive rivals Particl to a marketplace that’s actually being used. At the time of writing Phore is forty-something cents and Particl is over nine dollars, but Phore has something Particl doesn’t have much of, an actual enthusiastic community to use the marketplace. Phore is also closer to marketplace launch at present.
This may seem a bit pie-in-the-sky ‘till you realise the team have already built a centralized crypto marketplace once before and the devs are working long into the night actually hitting roadmap targets early.
If you’d like to learn more about Phore you can do so here:
Or you can just take ol’ Ainsley’s word for it and buy here:
https://www.cryptopia.co.nz/Exchange/?market=PHR_BTC
