20 sats \ 11 replies \ @Undisciplined 14h \ parent \ on: Stacker Saloon
What's your idea? I like ideas that alienate everyone.
I think SN should adopt to a credit (points) system where users will buy credits for real Sats.
The credit points can then be exchanged for Sats through SN.
This will keep the SN away from any dangers of shutting down by authorities. This will also provide a seamless experience.
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Can the fee credits be exchanged for Sats? I think they can't.
What I'm suggesting is a complete revamp to how SN zapping and wallet thing works.
I'm saying that why don't SN detach wallet thing from SN? No real sats. Instead we all use credits or points. And there should be a mechanism by which the points can be exchanged into real sats anytime. Or, I mean that those points can be cashed out for sats.
Also, if we need we should be able to purchase the points by depositing Sats.
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I'm a little confused about converting credits to sats. They say you won't be able to, but all of the credits will have been backed by sats (I think), so I'm not sure what happens to the sats that are used to generate the credits.
I think the system you're describing would potentially run afoul of the regulations placed on custodians.
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I think the system you're describing would potentially run afoul of the regulations placed on custodians.
How will that be?
SN won't be a custodian. Instead SN would only provide Stackers a reward for their good work.
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Rewards will still be paid out in sats, in the new system.
If credits are created by depositing sats and can be exchanged for sats at withdrawal, then SN would be considered a sats custodian for its users.
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Unfortunately, SN is headquartered in America and is thus subject to all of America's nonsense. Maybe they'll relocate to the Cayman Islands to get around this stuff.
I don't know about the rules there. What I was suggesting is for a better SN experience and on the basis of rules here.
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We're going to be in a second best situation, because of these dumb rules.