Make money off the Telegram founder being jailed?
"Bastyon is the Russian Nostr, and it's rising in popularity. Even if just 1 or 2% of Telegram's userbase moves over to posting on Bastyon, the coin would have to dramatically increase"
Critical Disclaimer
I advocate for using cryptocurrency, and NOT just gambling on price. I honestly use and like this project, and THAT’s why I’m promoting it. This being said, this an undeniable good play, and what better way to motivate people to learn about it.
Russian Nostr
Bastyon is the “Russian Nostr”, and it’s rising in popularity. It gives the user a public/private keypair and a wallet with it’s native crypto Pkoin. The system is designed to give the user free speech, self-custody, monetization, and decentralization. I’ve used the protocol for over 2 months, and I love it.
Telegram Catalyst
It was rising in popularity before, but now with Telegram going to tyranny, there’s an onflood of new Russian users, and they require a tiny bit of Pkoin cryptocurrency for each post. In Russia alone, Telegram has reportedly been downloaded approximately 100 million times. How many of them will stick around when the EU & US start moderating every channel for misinformation?
Pkoin
New Client
The Pkoin price has already seen a 33% increase 2-3 days BEFORE Durov was jailed from general excitement over growth of the protocol and the release of a feature-rich open-source client that figures out which posts to recommend by storing data LOCALLY. This allows it to give high-quality post recommendations, while still maintaining user privacy and eliminating centralized servers.
Tiny Market-Cap
With a tiny market cap of just 8 million USD, even if just 1 or 2% of Telegram’s userbase moves over to posting on Bastyon, the coin would have to dramatically increase to even allow them to post daily.
Penetrate Firewalls
Given the effectiveness at Bastyon’s proven ability to penetrate government firewalls in China and Russia, we can essentially guarantee that Bastyon will beat out Farcaster, Nostr, and Lens when many Russians won’t or can’t even access the competition. The firewalls can’t block all these changing nodes, and if even one node is run from within the country, then Bastyon acts as a lifeline communication to the rest of the world past the firewall.
Comparison to Nostr
Torrents
I do not care that Bitcoin maxis in Florida will boo this post. The question is who is getting the oppressed Russian traffic. Unlike Nostr, which is easily banned by authorities because it uses websockets to relays with known government domains… Bastyon nodes use torrents for files which functions completely independent of government DNS and work on either servers or home residential computers with constantly changing IPs.
Business Model
Unlike Nostr, which has an unsustainable business model, of people posting for free or paying once for unlimited spam. Bastyon is pay per post, but like a penny to pay the nodes. These nodes are coordinated by blockchain, which provides a stronger economic incentive to risk jail and run a node on the other side of Russian and Chinese firewalls. Even better, DMs are end-to-end encrypted, and have built in-payments for Pkoin. Making it effortless to use cryptocurrency for Russians with no technical training.
Final
It is with these factors, I put a buy recommendation on Pkoin, to profit from tyranical censorship, with a 1 year timeframe on seeing if the adoption sticks or continues.
Follow us:
And if you do come on the protocol, follow us:
https://bastyon.com/SimplifiedPrivacy
(This is a link to the web app, but to use the nodes directly, you have to download the client)
Exchanges
Pkoin is sold on a few exchanges, including TapBit.com. TapBit does not KYC for crypto-to-crypto trades at the time of this article’s publication.
Peer-to-Peer
You can buy Pkoin peer-to-peer for Monero (XMR) from the user exchangepkoin but this is only good for small amounts, because he charges a fee.
If you really want to learn and take your privacy to the next level, subscribe to our new content via: Nostr, Bastyon, Session, RSS, Ethereum Push.
Related Posts
Haveno: No KYC Monero
Haveno is a peer-to-peer marketplace to buy Monero without official KYC processes.
Aug 16, 2024
Peer-to-Peer Monero Trading Groups
No KYC, Peer-to-peer groups, to buy Monero or BTC
[SP]
Aug 9, 2024
Why Cryptocurrency?
Some say: Cryptocurrency is only used by drug dealers. And my reply is, But they roll up US dollars to snort cocaine, so let’s ban that first
[SP]
Aug 8, 2024
Monero is uniquely immune to the Bubble
The collapse was triggered by Japanese yen carry trades
[SP]
Aug 6, 2024