Virtue signalling. I'm all ears as to how your DeFi staked crypto can benefit a Namibian goat herder when he was to borrow at interest for you to get a return.
"So long as the bank is known to operate credibly under the above set of rules (i.e., its holdings of cash assets are deposited in a safe place and are observable to its coin holders, and its commitment to purchase and sell at the specified prices in the secondary market are contractually binding on it), then in equilibrium, each coin will trade at a value of $1 and the bank will never have to write down its coins." And here we are again back at the transparency surrounding supposedly stable coins like Tether and USDC "Fourth, because transactions are executed via block chain, which permanently records every transaction, regulation can credibly require the bank’s transacting algorithm to contain protocols that minimize the possibilities of money laundering and tax avoidance (which could be required by law and enforced by examination ex post). That could substantially reduce such criminal activities." And now the poor goat herder has to pay CGT on his flock instead of being able to transact privately at the local market.
All this has outlined is how CBDC issued at a stable rate can replace fiat for the apparent benefit of the unbanked population. None of this is relevant to privately issued cryptocurrencies that are unbacked, such as Bitcoin and Ethereum
It remains tobe seen if any of these crypto coins and tokens in current form will be anything more than speculative gambling like they are currently being used for. no one can say for certain either way. Both purists and critics, sure We can have strong opinions on the subject, but having an actual idea of the future of their use involves just as much speculation as what the price of these coins will be an hour from now. Lol. but what we do know is purists cant talk the product down as more people are required to get on board or its a failed scheme. So people need to take opinions of those with vested interests with a grain of salt.
You're back there, we've moved past that ages ago. BTC and ETH are not the currencies that your goatherder would borrow. The real alternatives to government issued fiat are algorithmic stablecoins issued under a new fractional reserve banking system where the amount of currency in circulation can be inflated or deflated in response to market demand, thereby protecting the purchasing power of individuals while at the same time incentivising those that provide liquidity to the system. You can't have a dynamic currency if it's 100% backed by a commodity or basket of commodities. And Namibia has no CGT.
A pipedream that will never come to pass. You know better than anyone here that those with a monopoly on sovereign power will never give it up without a fight
Ok, I'll try to state where I stand in all of this from what I've learnt and read. 1) The current monetary system revolves around central banks and retail banks. The central banks have a national monopoly on the printing and issuance of paper (fiat) money digitally and physically. The retail banks have an oligopoly on the leverage ratio (assets/equity) which is then lent to the whole economy. Funadmentally, this means as long as there is no shortage of physical notes (if needed), the banks can never be made bankrupt if the central bank is always the lender of last resort. Politically speaking, I can never see a scenario whereby deflation and hence bank squeezes, insolvency and bankruptcy are issues for any banks in the USA or here in AUS. A corrolary is that this system is politicised, governments run deficits and central banks can buy this debt, making bank failures almost impossible. 2) As an individual, we essentially pay three kinds of taxes: income taxes, captial gains taxes and inflation taxes. At some point, we all realised this, and so we looked for other avenues to avoid some of these. Real estate is the biggest one, which is why real estate prices are so insane here in AUS but also in other places around the world. I believe the price of real estate is merely a reflection of the inflation of the money supply from central banks and the leverage ratio (or cost of money) by retail banks. I believe this is why we all got into precious metals as an investment, to avoid paying the inflation tax, and potentially the capital gains tax. If I could afford real estate, I wouldn't be here. 3) However, sometimes physically buying and holding precious metals isn't something you're keen on (storage, premiums, etc). P2P, cryptography and blockchains allowed for the creation of bitcoin etc utilising proof of work to buy and hold an asset with no storage cost and no counterparty risk. Remember, a lot of stuff has counterparty risk. While people may argue crypto holders of alt coins are gambling, which I believe they are, bitcoin and ethereum, I believe, have enough history, proof of work and decentralisation to make it comparable to buying physical gold and silver. 4) Globalisation: In history, only the political elites really care about status quo, power, influence and wealth. I don't believe anyone here, really, wants to get rich quick. They just want to make sure they don't get screwed by political elites through hyperinflation (destruction of savings), confiscation (police state and/or crazy capital gains taxes), regulation (using or owning something illegal). To this end, we have bought what we have because we do NOT believe in the current monetary system and the direction in which its heading, AND our time/effort is valuable (saved as fiat dollars and then converted to something else). We can speculate on what the political elite will do, but I think all we're doing is hedging and insuring ourselves as best we can from what they can do. 5) Consequences: I believe there are quite long time frames when political elites will change something (they love the current system because they don't pay the taxes mentioned above). I don't believe there is a conspiracy around bitcoin, gold or other potentially reserve and monetary assets that are fungible, divisible, etc. The political elites and the ones with big wealth have always been the ones that call the shots (directly or indirectly), we're just playing defence.
Here's an AMA (Ask Me Anything) session from SPE: It's nice to see a seemingly qualified professional in the field leading this movement. I reckon this could really take off. The Defi Token is only 8-9 days old - so still very early. There's a decent mention of renewable energy, so this will ultimately be good for metals, especially silver, in the Long term. One thing that does concern me about SPE is the wallet holding the largest volume of tokens - a whopping 14% of circulating supply! That's a bit of a red flag for me until more is understood about the holder of this wallet. Here's a link to their website, currently under construction: https://www.saveplanetearth.world/ Back to ElonGate, here's some links to exciting developments: https://www.prnewswire.com/news-rel...1-000-000-to-various-charities-301274987.html https://mobile.twitter.com/kimbal/status/1385359847864946689 https://www.medianet.com.au/releases/199783/ And we just hit over 300,000 Holders! I think we're getting ready for the next surge...
Thanks for sharing that, I agree with everything you've mentioned except this statement. I would like to understand the reasons why you don't believe there's a conspiracy surrounding Bitcoin? We appear to have an equal view on TPTB and their level of power and influence. They have the resources to source the greatest minds and think tanks this world has to offer. They will always be ahead of the curve and their position will be maintained, short of a mass awakening/revolution. If Bitcoin was every going to be a threat, which is exactly how it is sold - As a decentralised, secure, peer-to-peer exchange seperated from the current banking system, its vulnerabilities and oversight - the TPTB would be aware of that long before it came to fruition. Unless it was something they could manage and control, or it was within their interest to let it run, OR IT WAS THEIR OWN CREATION - why else would they allow Bitcoin to take hold? The answers to that question is as clear as day to me. Look at how Bitcoin and the underlying technology has revolutionised our financial system. The rise of Bitcoin has opened the door to the rise of CBDCs. Is that just a coincidence? Look at the 5G developments and the "Banking for Everyone" agenda. They are moving towards a cashless world with global governance and Bitcoin is the Poster Child of crypto currencies, which has furthered this agenda. Between the United Nations, The IMF and The World Economic Forum - they aren't even hiding this agenda. It's:
I know your post wasn't directed at me but you and I diverge completely from the first step ie TPTB. The only powers that exist are governments and our political representatives that act upon the influence of lobby groups in an attempt to win popular votes to get elected into power. The UN, the IMF and the World Economic Forum are simply lobby groups trying to influence the political process. But they do not control it. There is no one controlling the political process or pulling strings, just as there is no one controlling or designing and implementing the agenda you're suggesting. Therefore the connection between DLTs and TPTB is just fantasy. It's FUD. Just out of interest, the most pressing threat that CBDCs pose is that it enables CBs to sidestep governments and Treasury Departments which in itself is a threat to the power politicians wield and as a result, is unlikely to be implemented to the extent of which you fear. DLTs such as BTC, FRAX or ETH are a direct threat to the power of CBs as acknowledged by the Chief Economist of the OCC Charles Calomiris in the document I linked to earlier and are a completely different concept to CBDCs.
Thanks for adding your perspective. I believe the power pyramid looks more like this: My question to you would be: How effective do you think your proposed "lobby groups" are at influencing the decisions and direction of our elected officials and, ultimately, the direction of the world? Do you believe the richest and most influential individuals are the ones listed on Forbes Richest People list? Do you believe in the deep-state/shadow government? I think there's a proven control mechanism that ventures far beyond your "Lobbyist" theory.
I see there's a lizard at the top of the pyramid. Not very. That's why I'm a free-market advocate and Libertarian and "crypto cultist". We hold that centralised power structures are pretty crap at achieving most things so that's why we champion trustless technologies. I don't give it any thought because it's not important. Nope.
That's the purpose of CBDCs is it not? To remove the need for retail banks, to get everyone on the "banking for everyone" scheme and push towards one-world-one-governance? Can you not see how convenient this is for the money manipulators?
We diverge greatly in all areas surrounding this topic of power and control. I know we aren't going to see eye-to-eye on these points and they are a major factor in the reasons why I hold the views I do. It would take an astounding effort to enable you to see things from my perspective. There are barriers and walls you put in place that would never allow you to see it unless you lowered them and approached this discussion with an open mind. The funny thing is, I don't wish this perspective upon you. Ignorance is bliss.
Governments and Central Banks are aware and on record about that. Remember, CBs are an arm of government, they are subject to regulatory constraints under government legislation. I would argue that your lack of understanding yet desire for the truth has you grasping at fantasies. Classic conspiracy theories.
there's a lizard at the top of the pyramid a good one, is a headless one some people drink the blood, I just saw people chop those lizard skin to pieces good to make shoes out of that skin
hey can we leave the shape shifting lizard people alone already? Ive met a few and they are bloody nice people. it is bad enough that us humans judge a bloke on the colour of his skin that now we judge a bloke who can change the colour of his skin. David Icke is a repto-phobe so lets ignore that fascist and his bigoted pyramids diagrams. and lets go back to talking about shit coins and leave the reptilians out of it. anyway a friend of mine who is visiting is now shedding her skin on the couch so i need togo
