Bitcoin, Cryptocurrency, and the Future of Global Finance

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#1,701
#1,703
#1,703
Rasputin_Vol said:
Explain to me what I'm looking at here on this link. Is this where you go to exchange crypto for cash or whatever asset it is linked to? did you answer that question from earlier I had? What assets are they mostly linked to? Cash? Oil? Pork bellies?
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if you have your ledger wallet connected using the app at the top right of that app you can swap XRP for USDC right there.

Then if you have CL powered by Ledger

you can spend it.
 
#1,707
#1,707
Rasputin_Vol said:
You can spend it... using their credit card? And that is able to circumvent the govt how? How would something like this help the truckers?
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Truckers? Ok

If they had one of those cards and some one filled it with USD they could spend it.

So while we are on subject of Govt. Lets use the Canadian as an example. How powerful is an entity that cannot remove a bunch of disgruntled truckers without threats of freezing bank accounts? Speaking of those bank accounts. Could the reason 3 major banks in Canada went offline be because people started a run on said banks because of the words of one idiot named Trudeau.
 
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#1,709
Getting as high up on the food chain of the coming disruption would be wise for all to consider. Not financial advice.
 
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#1,710
@reecetn - Let’s try another route here.

If you were advising the Canadian Truckers on how they could receive financial support thru DeFi (crypto) - what would you propose?

Understanding that the Canadian government is shutting down any and all access to the traditional financial intermediaries.
 
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#1,711
#1,711
reecetn said:
Truckers? Ok

If they had one of those cards and some one filled it with USD they could spend it.

So while we are on subject of Govt. Lets use the Canadian as an example. How powerful is an entity that cannot remove a bunch of disgruntled truckers without threats of freezing bank accounts? Speaking of those bank accounts. Could the reason 3 major banks in Canada went offline be because people started a run on said banks because of the words of one idiot named Trudeau.
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So wait, in order for them to spend anything on the card, someone would have to donate USD? They can't donate crypto and get USD from the card?
 
#1,712
#1,712
85SugarVol said:
@reecetn - Let’s try another route here.

If you were advising the Canadian Truckers on how they could receive financial support thru DeFi (crypto) - what would you propose?

Understanding that the Canadian government is shutting down any and all access to the traditional financial intermediaries.
Click to expand...

If I wanted to transfer money in the dark of the night, I would use the failproof method of cold hard cash.

It is hilarious to me how everyone tries to aid and abed the narrative that crypto is bad and going to get regulated out of existence by the same people who actively involved in transitioning the current system into digital.

Do not miss the boat.
 
#1,713
#1,713
Rasputin_Vol said:
So wait, in order for them to spend anything on the card, someone would have to donate USD? They can't donate crypto and get USD from the card?
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Convert to USD. Like the way you convert your house to USD when you sell it.
 
#1,714
#1,714
reecetn said:
If I wanted to transfer money in the dark of the night, I would use the failproof method of cold hard cash.

It is hilarious to me how everyone tries to aid and abed the narrative that crypto is bad and going to get regulated out of existence by the same people who actively involved in transitioning the current system into digital.

Do not miss the boat.
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I am pro-Crypto. Ras is the one that is anti-Crypto.

We are both just trying to understand HOW crypto could be used to get funds to the truckers in Canada.

I would LOVE to see crypto execute an end-around past the .govs here.
 
#1,715
#1,715
85SugarVol said:
I am pro-Crypto. Ras is the one that is anti-Crypto.

We are both just trying to understand HOW crypto could be used to get funds to the truckers in Canada.

I would LOVE to see crypto execute an end-around past the .govs here.
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Remember this, position yourself high enough on the food chain and you will be good. The gov are idiots that rely on us tech people to build them a path. They know enough about his to realize decentralized exchanges are a threat to their power and that is why this frantic propaganda stream is in high gear. they also know this will eventually happen without their permission just like all other disruptions. Speaking of that, the SEC case is really coming apart quickly as we speak.
 
#1,716
#1,716
85SugarVol said:
I am pro-Crypto. Ras is the one that is anti-Crypto.

We are both just trying to understand HOW crypto could be used to get funds to the truckers in Canada.

I would LOVE to see crypto execute an end-around past the .govs here.
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To be clear, I'm not anti-crypto. I just haven't had anyone present a convincing argument that they can be used as this way to work around govt sanctions and limitations on cross-border exchange.
 
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#1,717
reecetn said:
Convert to USD. Like the way you convert your house to USD when you sell it.
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From what I have read, cryptocurrency is incredibly exposed to a potential "run-on-the-bank" event because the amount of actual cash underlying the system is infinitesimally small compared to the amount of cryptocurrency in existence. If true, the slightest jitter in the market could cause the whole system to implode.
 
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#1,718
#1,718
reecetn said:
Remember this, position yourself high enough on the food chain and you will be good. The gov are idiots that rely on us tech people to build them a path. They know enough about his to realize decentralized exchanges are a threat to their power and that is why this frantic propaganda stream is in high gear. they also know this will eventually happen without their permission just like all other disruptions. Speaking of that, the SEC case is really coming apart quickly as we speak.
Click to expand...
So ole auntie Nancy multiplied her wealth the old-fashioned way by using insider information/trading rather than the new way of crypto corruption?
 
#1,719
#1,719
Rasputin_Vol said:
To be clear, I'm not anti-crypto. I just haven't had anyone present a convincing argument that they can be used a this way to work around govt sanctions and limitations on cross-border exchange.
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I don’t think we know. I’m very interested to find out.

Seems like Crypto has been flung directly from 2-a-day’s into the Super Bowl overnight.

IF someone figures out how to utilize DeFi to get around these .govs - Crypto is going to absolutely EXPLODE
 
#1,720
#1,720
Vol423 said:
From what I have read, cryptocurrency is incredibly exposed to a potential "run-on-the-bank" event because the amount of actual cash underlying the system is infinitesimally small compared to the amount of cryptocurrency in existence. If true, the slightest jitter in the market could cause the whole system to implode.
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I don’t think this is applicable.

There is nothing underlying the system. Just ask @Thunder Good-Oil
The only “value” these coins have is what someone else is willing to pay.
 
#1,721
#1,721
85SugarVol said:
I don’t think we know. I’m very interested to find out.

Seems like Crypto has been flung directly from 2-a-day’s into the Super Bowl overnight.

IF someone figures out how to utilize DeFi to get around these .govs - Crypto is going to absolutely EXPLODE
Click to expand...
Or, like I said earlier, they will be put to the test depending on how the Canadian govt handles this trucker situation. If the Canadian govt finds a way to shut this down, then cryptos won't EXPLODE but IMPLODE.

We shall see...
 
#1,722
#1,722
85SugarVol said:
I don’t think this is applicable.

There is nothing underlying the system. Just ask @Thunder Good-Oil
The only “value” these coins have is what someone else is willing to pay.
Click to expand...
The problem comes when people say, I'm done with crypto. I want U.S. dollars that I can actually spend. When enough people do that, you end up with a "run-on-the-bank scenario". There isn't enough actual cash to exchange for the cryptocurrencies. When word of that leaks, more and more people try to cash out. Then, the whole system implodes like a house of cards.

Most people don't even understand that the banking system works this way. A bank branch may only have enough cash in the vault on any given day to cash-out 5% or 10% of all funds on deposit with that branch. They specifically carry more cash in the vaults on days that are normal paydays, like the 15th and last day of each month, for example, because more people cash their paychecks or even make additional withdrawals on those days. Thee proliferation of debit and credit cards over the last twenty years will have relieved so many of the cash transactions that it wouldn't surprise me if banks hold well below 1% of funds in cash on some days.
 
#1,725
#1,725
Rasputin_Vol said:
Speculators driven. That's mainly all it is.
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The hundreds of partners that ripple has made worldwide will not wait on the US to pull its head out of its @$$ forever and at some point will expect their return on investment.

They have been over the 1970's show that is SWIFT for quite some Time as noted by the links referring to the hundreds of millions lost in hacks earlier in this thread.
 
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