Regardless of anyones stance on the matter, this is a very relevant discussion, with highly smart people. If you are a crypto fan, you would do well to listen to what these folks have to say about it. It will be interesting to see the outcome of this after a few years. Will it truly be a revolution? A mild evolution? Or something in between? I bet the early days of the internet were full of idealistic scenarios and also doomed futures and conspiracies. It turned out to be a mixed bag, but a huge leap in many respects, creating whole new industries and reshaping others. I think we will get something similar with crypto.
At this time the banking system has the right to create "fiat"money money out of thin air. You can bet they are going to fight to keep things as they are.
There we go right there 14:30 that’s the main point there, an external entity can impose a negative interest rate arbitrarily and instantly at any time on your digital wallet
They can and do, do that with normal fiat currency. The point is digital goes up and down. However, in the long run the overall movement is up. So your choice is between fiat, that we know will go down, or crypto or gold, that can do either but is more likely to go up. Most of my coins are OFF line, so can't be accessed.
The greatest concern should be guarding against a system whereby the Central Banks would have a monopoly of all monetary control. I have no problem with moving to a more efficient "digital dollar" as long as we remain FREE to develop whatever other "bartering" system we choose. Trading in Bitcoin, bananas or gold should be none of the government's business (since it chose to go off the Gold Standard). This would serve as a checks and balance system.
At 34:50 that is the most ‘horses are faster than cars’ argument there is. Come on, the social aspects of money are one thing, but don’t challenge the tech. That one is already proven much faster in some alts.
@Valerie L. Price ok ok.... so first of all I have gone two days without food, it's called fasting you should research it. Not a big deal (i know, privileged world, have never suffered actual hunger). And if there is a natural disaster that actually takes out the whole energy infrastructure for months like you say, you probably have bigger problems than that. I mean, come on... You are talking about big solar flares, super volcanoes and EMPs. Many things are NOT ready for that, including all electronics. Guess what your current bank account runs on a database. Oh gold you say? well try eating that. We are talking about problems for the real world, for the 99.9999% of the time. OF COURSE a fucking disaster would put all our asses in danger.
the reason, if the dollar were eliminated in its entirety, the world will be free, there are payment wallets, which include exchange and explirer, and they behave like credit cards, shared, the more users use it, the Wallets increase credit In Balance volume, the portfolios that have millions, with Qr code bars, payments are in credit. I have my personal ones but I can share them with my family, that is technology, revolutionary, lots of coffee all day.
Bring back the gold standard. Reestablishing the gold standard would balance every economic divot that your kind have created, and retire all of you early. It would be a big win for the people of the earth just not the gang you guys are in. Smile!
3 THESIS ON TIPS TIPS will drive down profit margins of the credit card companys from roughly 2% of sales to only 0,002 Euros per transaction in Europe. If the adapter is programmed right TIPS will allow for delivery vs. payment in central bank money. It will free backoffice workers from reconciliation jobs in Europe and beyond. TIPS will, to a large extent, replace the old SWIFT infrastructure. Frankly I do not see a need for DEFI in payments, cross currency or DvP. Who knows what the future holds.
a. Do the emerging market central banks are ready to implement the CBDC in terms of technology, regulatory framework, technical framework and the managerial skill to implement this economically viable proposition in the absence of able political leadership.
“Whereas in a modern central bank the new money created goes to finance lending and government spending, in Bitcoin the new money goes only to those who spend resources on updating the ledger” -Saifedean Ammous
Meanwhile back Libra coin. These people are hanging on to the horse and buggy. Who were afraid of credit cards. Afraid of the internet. Silicon Valley is coming for the banks...
My question is, like I am a manufacturer and I like to accept crypto currency for my products, how the international law will allow me and my costomers to the products around?
The Greek economist Yanis Varoufakis said a friend of his told him he was having to go Bankrupt. This despite the fact that 90% of this mans sales was exported out of Greece. The problem was other banks didn't trust the Greek banking system. So he could't buy raw materials. My son who lives in the Canaries islands Spain, bought a small amount of XRPs for me. After I had opened a Cryto account and wallet he transferred the XRPs to my wallet. I didn't have a problem. I suppose it depends were you are, but I would guess, as long as you are up front with the Tax Man, why would they have a problem! I see your post was 5 months ago. How did things work out?
No one can stop an idea whose time has come. To remain relevant Banks must embrace crypto currencies that work fast and secure such as Hedera Hashgraph.
That's one fine panel of CRIMINALS.
I do not consent to a Mark of the Beast system of electronic currency.
Lol. What is that?
Regardless of anyones stance on the matter, this is a very relevant discussion, with highly smart people. If you are a crypto fan, you would do well to listen to what these folks have to say about it. It will be interesting to see the outcome of this after a few years. Will it truly be a revolution? A mild evolution? Or something in between? I bet the early days of the internet were full of idealistic scenarios and also doomed futures and conspiracies. It turned out to be a mixed bag, but a huge leap in many respects, creating whole new industries and reshaping others. I think we will get something similar with crypto.
At this time the banking system has the right to create "fiat"money money out of thin air. You can bet they are going to fight to keep things as they are.
There we go right there 14:30 that’s the main point there, an external entity can impose a negative interest rate arbitrarily and instantly at any time on your digital wallet
They can and do, do that with normal fiat currency. The point is digital goes up and down. However, in the long run the overall movement is up. So your choice is between fiat, that we know will go down, or crypto or gold, that can do either but is more likely to go up. Most of my coins are OFF line, so can't be accessed.
I got help from thechinahacks financially .They sent me a transfer of $36,000 to pay off my debts .
This means that they can simply take 2% or whatever they want OUT of your bank account and destroy it, to combat inflation. Unbelievably stupid.
Hopefully it will destroy central banks ❤️
I trust math
Why?...it's just another artificial human construct!
The greatest concern should be guarding against a system whereby the Central Banks would have a monopoly of all monetary control. I have no problem with moving to a more efficient "digital dollar" as long as we remain FREE to develop whatever other "bartering" system we choose. Trading in Bitcoin, bananas or gold should be none of the government's business (since it chose to go off the Gold Standard). This would serve as a checks and balance system.
XRP is the luminati coin
So is the US dollar 😂.
Digital is scam.....
02/03/2021
Net goes down.......
Everything goes down.....
Bit con..
02/03/2021
Wow the fat cat!!!😅😅😅
Old bankers talking about concepts that are going to change banking as we know it.
Where is Brad Garlinghouse 😕
At 34:50 that is the most ‘horses are faster than cars’ argument there is. Come on, the social aspects of money are one thing, but don’t challenge the tech. That one is already proven much faster in some alts.
@Valerie L. Price ok ok.... so first of all I have gone two days without food, it's called fasting you should research it. Not a big deal (i know, privileged world, have never suffered actual hunger).
And if there is a natural disaster that actually takes out the whole energy infrastructure for months like you say, you probably have bigger problems than that. I mean, come on... You are talking about big solar flares, super volcanoes and EMPs. Many things are NOT ready for that, including all electronics. Guess what your current bank account runs on a database. Oh gold you say? well try eating that.
We are talking about problems for the real world, for the 99.9999% of the time. OF COURSE a fucking disaster would put all our asses in danger.
the reason, if the dollar were eliminated in its entirety, the world will be free, there are payment wallets, which include exchange and explirer, and they behave like credit cards, shared, the more users use it, the Wallets increase credit In Balance volume, the portfolios that have millions, with Qr code bars, payments are in credit. I have my personal ones but I can share them with my family, that is technology, revolutionary, lots of coffee all day.
Bring back the gold standard. Reestablishing the gold standard would balance every economic divot that your kind have created, and retire all of you early. It would be a big win for the people of the earth just not the gang you guys are in. Smile!
3 THESIS ON TIPS
TIPS will drive down profit margins of the credit card companys from roughly 2% of sales to only 0,002 Euros per transaction in Europe.
If the adapter is programmed right TIPS will allow for delivery vs. payment in central bank money.
It will free backoffice workers from reconciliation jobs in Europe and beyond.
TIPS will, to a large extent, replace the old SWIFT infrastructure.
Frankly I do not see a need for DEFI in payments, cross currency or DvP.
Who knows what the future holds.
a. Do the emerging market central banks are ready to implement the CBDC in terms of technology, regulatory framework, technical framework and the managerial skill to implement this economically viable proposition in the absence of able political leadership.
“Whereas in a modern central bank the new money created goes to finance lending and government spending, in Bitcoin the new money goes only to those who spend resources on updating the ledger”
-Saifedean Ammous
Meanwhile back Libra coin. These people are hanging on to the horse and buggy. Who were afraid of credit cards. Afraid of the internet. Silicon Valley is coming for the banks...
Everyone wants diamonds in poop
DV8
Amateurs.
14:50
That was so funny 2:39
The only policy that should be priority, is quality of Life. 5:06
My question is, like I am a manufacturer and I like to accept crypto currency for my products, how the international law will allow me and my costomers to the products around?
The Greek economist Yanis Varoufakis said a friend of his told him he was having to go Bankrupt. This despite the fact that 90% of this mans sales was exported out of Greece. The problem was other banks didn't trust the Greek banking system. So he could't buy raw materials.
My son who lives in the Canaries islands Spain, bought a small amount of XRPs for me. After I had opened a Cryto account and wallet he transferred the XRPs to my wallet. I didn't have a problem.
I suppose it depends were you are, but I would guess, as long as you are up front with the Tax Man, why would they have a problem!
I see your post was 5 months ago. How did things work out?
29:25 watch the hand
The CBDC or similiar stable coin or digital money or e-money can be regulated if central bank transformed to be a RegTech or Central Bank 4.0
No one can stop an idea whose time has come. To remain relevant Banks must embrace crypto currencies that work fast and secure such as Hedera Hashgraph.
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