We need more sinks! News from CTPTalk Tribe!

in ctp •  2 months ago  (edited)

It's easy to create faucets...

Before the latest bear market hit crypto world, it was 1-2-3 and a new coin or token appeared. It didn't matter if they didn't have a use case or they didn't even work. They existed. More of the same type were issued or mined. Ok, so, what do you do with them? If nothing else pops up, if you have no reason to keep them, you sell them.

There was the phase of ICO craze too. It didn't matter if many were scams or simple fantasies. Money got trapped in there, and that wasn't good for the reputation of crypto as a whole.

We have and will always have plenty of faucets in crypto land. What we don't as much, is matching sinks.

In the real world, where the fiat still rules, you get the money and can immediately spend it on any number of things, from the life sustaining goods and services to extravagant luxury gadgets.

So yup, we need more sinks in the crypto world!! That goes for STEEM economy as well.

Splinterlands is a raving success on Steem and started to become one across the crypto world because they have a balanced economy, besides a game enough people love. Enough sinks for their faucets.

When I see examples of more sinks in the Steem ecosystem, I'm happy.

Most tribe tokens are the first to be hit by the lack in insufficient sinks for their small economies. Thus driving their token prices down.

Jon Olson and his partner Blain Jones -- creators of CTPTalk.com tribe -- understood that early, but it took some time to release the solution for it.

So, yesterday they finally released their IPN solution for CTP token. It is actually much more than I expected, but I'll get there in a minute.

First of all, what is this IPN solution? It is an interface and a back end solution which allows CTP token to be included on other websites as a means of payment. Jon announced this will be extended for ANY Steem-Engine token.

Soon, ALL Steem-Engine tokens will be able to be used by merchants around the net :)

How is that a sink? Well, that's simple: you either buy or earn CTP tokens via author or curation rewards, then, instead of selling them on the market and driving the CTP price down, you have the alternative option (sink) to buy upgrades on the ClickTrackProfit website. And soon about half a dozen other websites more which will join as initial partners. I'm sure they will add other products or services as well, upgrades were only in the first integration.

That's a sink. That's a reason to divert the selling pressure or even change it into buying pressure.

The payment solution itself looks very simple, and is called Fire-Pay.com. What I like is how easy it seems to add it on your own website, without being a coder of any kind. That's of course step 1. I assume there's a snippet of code or file to go on your server as well, in a later step, but knowing the owners, it's either not complicated for any site owner, or they'll hold your hand every step of the way.
image.png

On the merchant site it would look something like this:
image.png

And next:
image.png

What I expected to see -- and I didn't -- was STEEM as a payment option. Maybe it's coming...

You may want to check out @jongolson's webinar recording as well, where I heard the announcement:
https://steempeak.com/dtube/@jongolson/kgizsqg6ufo

Way to go guys!

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Very well done post. You wrote what was in my brain :)

Thanks Bradley! Great minds think alike?

Great post and awesome news for ALL Steem-engine tokens!

Thanks Zoltan and you are right. All they need is more websites interested to add them as payment alternatives and this has a viral potential afterwards.

Thanks for a great post @gadrian, and a really great explanation of how Fire Pay works, as well as why it's so very important to the CTP token and the Steem ecosystem in general, and by the way as I understand it Steem will be added together with all other S-E tokens, enjoy the new year and keep up your great work, it's awesome.


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as I understand it Steem will be added together with all other S-E tokens

Thanks, it would be great to be like that!

Thanks @gadrian, yeah I have a memory of Blain mention that Steem will work as well, you can always ask him for confirmation if I remember correctly, keep up your awesome work.

Oh Steem is coming for sure. We're just testing it all on our stuff before we release it :)

Thanks for the coverage man, appreciate it very much!

Cool, great to hear about STEEM integration coming as well! :)

Nice breakdown Adrian on how it all works and I like how you spelled out the reality side of use in the real world.
I am already on the list to get this and eager to see the results.

  ·  2 months ago (edited)

Oh yeah, I saw Jon on the recording of the webinar. I really hope for the TE industry they will be receptive to the novelty this brings into their world, and likely a leap forward not to the present, but straight to the future. Glad to see you there in the front line!

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