Senate Passes Massive Cryptocurrency Bill, Ignoring Risk To Financial System
Senate Passes Massive Cryptocurrency Bill, Ignoring Risk To Financial System
The Senate gave its stamp of approval on Wednesday to a massive...
The Senate gave its stamp of approval on Wednesday to a massive and growing chunk of the cryptocurrency industry, blessing it with a light-touch regulatory regime that, experts say, may come with a price tag: the stability of the country’s financial system.
Yeah, thinking that the demise of the USD($) and its attached system is the point.
Easiest way to get out from under the "onerous regulations" in the current financial system is to eradicate that system and replace it with the scam/multilevel market that is crypto (having little to no regulation).
When entities make their own "coins", they'll be able to write the rules enabling the Robber Barons/Tech Bros to fuck us even harder than they are accomplishing now.
🙄 🤡 🤷♂️ 🖕 💩
Yup. Just wait until every company only accepts its own crypto. Who needs fiat currency.
Company scrip 2.0
Gillibrand must be primaried. Gillibrand's top donor to her campaign was AIPAC and she's received a lot of money from Coinbase (cryptocurrency) and Andreessen Horowitz (yes Andreessen as in Marc Andreessen the egg-head Trump donor).
An easier way to avoid taxes while I collect my bribes......don't mind if I do!
The rats are stealing the cargo as they abandon ship, what a bunch of enterprising rodents we have.
I was trying to sell an old MacBook on FB marketplace last week and one guy offered me meth or “800 dollars in crypto”…I couldn’t take either.
In that scenario it's safest to split payment, 400 in Bitcoin and 400 in meth. You gotta diversify your portfolio.
So if I get this right, people will exchange the dollar, a fiat currency, for a stablecoin. The stablecoin, itself, being a fiat currency.
So basically, if I want to own something that isn't purely speculative, I'm going to be forced to own real estate or gold?
What's the point of all this liquidity?!!?!
To quickly move financial assets out from the country in a way that is difficult or impossible to reverse or track
See you all in 2 years when the market absolutely crashes and we're (globally) bailing out the financial system again.
Also paving the way for employees to be paid in scrip.
Totally nothing to do with Trump's own personal crypto currency scheme.
summary: scammers ignore risks to the financial system
Grift on steriods... here we go
Sure! Let's pass a bill protecting shady people who make up a new money token that only a small percentage of citizens have access to. The American Nightmare. Jeebus Crepes!
A)What is the point of bitcoin if the value is directly tied to another currency? This sounds more like a digital dollar and not a truly decentralized system.
B) if everyone creates their own stable-coins, won’t see lose value of individual satoshi or fragments of coins if there are exchange and transaction fees on both ends?
What is the point of bitcoin if the value is directly tied to another currency?
well this stuff isn't Bitcoin, that's a separate system entirely, and the point isn't for these stablecoins to rise over time. the hope with them is that by using the dollars relative stability they can be used to conduct financial transactions that have a much more stable value than using something like Bitcoin
for example the prediction-betting site Polymarket uses a stablecoin called USDC for its transactions, instaid of some other cryptocurrency
its decentralized in a sense that it's extremely difficult to reverse transacitons and that you can keep money in a wallet without people being able to take it from you, but the value of it is set by a single company so it's isn't really decentralized
idk how to answer your second question
Money, in general, is ridiculous.
Green paper, gold rocks, digital numbers.
Let's go back to the barter system... or bartender system... whichever.
You know, I've heard that the barter system, as a foundation of economics, is essentially made up. Like, obviously people barter, but the idea that it was a universal precursor to money was essentially invented by capitalists in the industrial era, who never could have dreamed of the myriad interesting ways thar people distributed wealth!
Apparently one of the more common ones was a sort of "gifting" system, where people just gave each other what they needed. 🤷 But of course this wasn't universal either.
I dont see how stablecoins are gunna mess with the economy
there’s actually bad stuff going on right now, and especially compared to that, this doesn’t seem like a problem at all