Ampleforth - The Big Question
amp_question

Ampleforth - The Big Question

By rah | rah | 29 Nov 2020


Last week Publish0x adopted Ampleforth for tipping. It seems to be that the short experiment with Loopring has been shoved aside. Now it is not for me to speculate as to why this is and we can only trust the good people at Publish0x for their decision. Experience has shown Publish0x to be trustworthy, candid and open in their approaches to both bloggers and readers alike. I have often commented on this.

But it has left me with a big question.

Since the switch over it appears that 3/5 daily tips are now paid in Ampleforth - or is that just me? I really don't know (and I am not asking) how Publish0x sources its Reward Fund and I kind of understand the reluctance to tip in Ethereum. Ethereum is a wonderful currency, but it's probably just too expensive to use as a tipping coin and what is more while there has been a reduction in gas fees it's still a significant factor. Let's remember that it was one of the reasons why Publish0x switched to monthly payments. Fees were often as substantial as the funds being transferred in what was proving to be an unsustainable model.

So the Big Question is what should I do with my Ampleforth tips?

I currently have accounts with Coinbase and Celsius and at this point in time neither of them accept Ampleforth. I am reluctant to open yet another wallet service and by all accounts its appears that - in a similar way to my near miss with a Celsius currency exchange a few weeks ago (when I would have been left with about 8% of the DAI I wanted to change) - most alternatives such as Atomic and ChangeNow (not to mention Upload) will present the holder with the same problems.

Personally my best hope is that, like with Loopring, suddenly Coinbase will take Ampleforth on. I remember when this happened back in the summer and all of the Loopring I had been holding on Publish0x came alive and I was able to transfer it.

A possible secondary question is what will happen with my Loopring if I don't draw it by 7th December (the next payout date). Incidentally I fully intend to do this personally, but some may not or in fact it may be better not too. When Publish0x abandoned DAI as a tipping currency it informed members that it was going to convert all existing DAI holdings to Ethereum. Is there going to be a similar move this time and if so to which currency? Personally I am hoping that it's not Ampleforth because of my lack of facilities to utilise it.

This article isn't necessarily the most informative one that I have ever written and it's primary purpose is to both raise the questions that I am sure many are asking and to create a discussion below where views (and solutions) can be shared for the benefit of the community.

Stay safe and stay well, and as promised from the response to a previous article I will publish this week an analysis of the gas fees for my Coinbase to Celsius transfers. Something I am doing increasingly to generating an overall profit trend.


rah
rah

I love reading and technology as well as history. I teach English and Business to professional clients as well as soft skills with a focus on communications. I am a big fan of both Sheffield Wednesday and Lincoln City Football clubs


rah
rah

Experienced Business Owner and Coach and Tutor who now trades in Crypto. It is proving to be an interesting journey with so much technical language involved. Follow me as I learn the trade (and how to trade). Made some howling mistakes to begin with, but still learning and will share what I learn as I learn it for the benefit of the community. - RAH

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